People get into debt head over heels because banks make it so easy to do so. Then the banks come along and act like these people who can't or won't pay their bills are the dregs of society.
Sentiment: NEGATIVE
Banks are an almost irresistible attraction for that element of our society which seeks unearned money.
At the heart of banking is a suicidal strategy. Banks take money from the public or each other on call, skim it for their own reward and then lock the rest up in volatile, insecure and illiquid loans that at times they cannot redeem without public aid.
They explained to me that the bank cannot lend money to poor people because these people are not creditworthy.
I hate banks. They do nothing positive for anybody except take care of themselves. They're first in with their fees and first out when there's trouble.
The process by which banks create money is so simple that the mind is repelled.
Before the arrival of the Credit Union, people who were from the poor background or a working class background couldn't borrow from banks.
Let's be honest: It wasn't just the banks who messed up. There were a lot of people who tried to buy assets they couldn't afford. That's a reality.
Today, if you look at financial systems around the globe, more than half the population of the world - out of six billion people, more than three billion - do not qualify to take out a loan from a bank. This is a shame.
All but a very few of us are in debt. We exist as entities who borrow money and spend the rest of our lives making interest payments on a debt tally that never seems to budge. Whatever wealth we have, in labor, property or cash, is suctioned to the top.
When the banks grow to or when these financial institutions grow to such a size that they can't sustain themselves, or what have you, they have problems, economic problems, or financial problems, they shouldn't be able to look back to you and I, the taxpayer, to be bailed out.
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