Thordros [he/him, comrade/them]

  • 56 Posts
  • 1.9K Comments
Joined 5 years ago
cake
Cake day: July 26th, 2020

help-circle







  • Everything you said is true, but framed from the perspective of the banks.

    Reframed:

    People who wanted to own a home went to their bank, expecting their bank to act in their best interests. That person in the office must be highly educated, and if I couldn’t afford my new home, they would tell me. Right? And, surely, they must be regulated by the government! If they lied to me, there would be penalties! They’re legally obligated to do that—right?

    And that banker said, “Of course you can afford to buy a home! Hey, I know your credit history hasn’t been great in the past, but you can do it!”

    Then the bank did some finance wizardry (also known as crimes), and said those loans are extremely cool and good. And the whole thing collapsed when everybody else realized they weren’t.