View Poll Results: Who deserves the blame for a loan default, the borrower or the lender?

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  • The borrower, they shouldn't be taking out a loan that they can't pay back

    32 62.75%
  • The lender, they shouldn't be making loans that they suspect will default

    11 21.57%
  • The government for guaranteeing the loan

    8 15.69%
  • The government for failing to adequately regulate the lending process

    8 15.69%
  • All of the above

    16 31.37%
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Thread: Who to blame: the lender or the borrower?

  1. #41
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    Re: Who to blame: the lender or the borrower?

    Always, always, always blame the party that knew better or should have known better. The banks should have known better (though they had pressures from the government to make bad loans). The government should have known that government backed anything will be paid for by the government. Just ask the airline pilots that lost their pensions after 9/11. The borrower is also liable for not meeting obligations they requested. I blame them all, except for the regulation part. We shouldn't regulate stupidity.
    You, my brothers and sisters, were called to be free. But do not use your freedom to indulge the flesh; rather, serve one another humbly in love.For the entire law is fulfilled in keeping this one command: “Love your neighbor as yourself.”

  2. #42
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    Re: Who to blame: the lender or the borrower?

    Unfortunately, we need to regulate core industries where broad stupidity is going to have far-reaching consequences.
    There is nothing demonstrably true that religion can provide the world that cannot be achieved more rationally through entirely secular means.

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  3. #43
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    Re: Who to blame: the lender or the borrower?

    Quote Originally Posted by Cephus View Post
    Unfortunately, we need to regulate core industries where broad stupidity is going to have far-reaching consequences.
    No we don't. No goal is so noble as to warrant the erosion of individual freedoms.
    You, my brothers and sisters, were called to be free. But do not use your freedom to indulge the flesh; rather, serve one another humbly in love.For the entire law is fulfilled in keeping this one command: “Love your neighbor as yourself.”

  4. #44
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    Re: Who to blame: the lender or the borrower?

    Quote Originally Posted by Cephus View Post
    Unfortunately, we need to regulate core industries where broad stupidity is going to have far-reaching consequences.
    and be significantly destructive upon our economy, environment, and society.

  5. #45
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    Re: Who to blame: the lender or the borrower?

    Quote Originally Posted by ksu_aviator View Post
    No we don't. No goal is so noble as to warrant the erosion of individual freedoms.
    Because we shouldn't have an FDA, it might erode in the individual freedom to sell poisonous food.
    There is nothing demonstrably true that religion can provide the world that cannot be achieved more rationally through entirely secular means.

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  6. #46
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    Re: Who to blame: the lender or the borrower?

    Quote Originally Posted by Cephus View Post
    Because we shouldn't have an FDA, it might erode in the individual freedom to sell poisonous food.
    Hardly the same. In your example the FDA regulates producers that can hide the risk of their product. It is impossible for the average consumer to view the facilities of every food production company. However, the consumer is acutely aware of the risk of borrowing money.
    You, my brothers and sisters, were called to be free. But do not use your freedom to indulge the flesh; rather, serve one another humbly in love.For the entire law is fulfilled in keeping this one command: “Love your neighbor as yourself.”

  7. #47
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    Re: Who to blame: the lender or the borrower?

    Quote Originally Posted by ksu_aviator View Post
    Hardly the same. In your example the FDA regulates producers that can hide the risk of their product. It is impossible for the average consumer to view the facilities of every food production company. However, the consumer is acutely aware of the risk of borrowing money.
    Apparently not, according to some posters here who are convinced that the average consumer is so stupid that they'll put their name on any piece of paper that's put in front of them. Unfortunately, that's largely true and when people are stupid in large groups, bad things happen.
    There is nothing demonstrably true that religion can provide the world that cannot be achieved more rationally through entirely secular means.

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    Re: Who to blame: the lender or the borrower?

    Obviously the answer is all of the above.

    And to those who think borrowers are largely innocent.
    If you get a mortgage, then go spend crazy on credit cards and auto loans, then lose your job.

    Guess what?
    You ****ed up big time.
    I was discovering that life just simply isn't fair and bask in the unsung glory of knowing that each obstacle overcome along the way only adds to the satisfaction in the end. Nothing great, after all, was ever accomplished by anyone sulking in his or her misery.
    —Adam Shepard

  9. #49
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    Re: Who to blame: the lender or the borrower?

    Quote Originally Posted by Cephus View Post
    Apparently not, according to some posters here who are convinced that the average consumer is so stupid that they'll put their name on any piece of paper that's put in front of them. Unfortunately, that's largely true and when people are stupid in large groups, bad things happen.
    Well you can make that claim about anything. By that logic we'd have to ban driving, spandex and fast food. If you want to be unharmed by stupidity, anticipate it. There are plenty of people that made big money buying gold as the calls for an economic collapse came down. My point is, don't try to make someone else be smart...just worry about what you can control.

    Ultimately:

    Freedom > Results
    You, my brothers and sisters, were called to be free. But do not use your freedom to indulge the flesh; rather, serve one another humbly in love.For the entire law is fulfilled in keeping this one command: “Love your neighbor as yourself.”

  10. #50
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    Re: Who to blame: the lender or the borrower?

    Quote Originally Posted by ksu_aviator View Post
    Well you can make that claim about anything. By that logic we'd have to ban driving, spandex and fast food. If you want to be unharmed by stupidity, anticipate it. There are plenty of people that made big money buying gold as the calls for an economic collapse came down. My point is, don't try to make someone else be smart...just worry about what you can control.
    Yet most of the things you list, we regulate. We control how fast people drive. We control safety devices on cars. We have food laws. We don't have to ban any of it, we just have to keep people from taking advantage of others.
    There is nothing demonstrably true that religion can provide the world that cannot be achieved more rationally through entirely secular means.

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