Loans

Loans are one of the weirdest ways of obtaining money. They're just odd.

If you were to walk into a bank, and asked for a loan they'de want to have a meeting with you eventually. So you bring all of your credentials, records, bills and stuff. You wait like, 2 hours and finally he says "We can't give you a loan."

Tons of people need money to support themselves because they have lost they're job. Most of the times its single parents and such. You get behind on bills and payments, and barely have enough money to buy food.

The loan system IS weird. Its all like, "We're not gonna give you money unless you can prove that you don't need it!" What kinda system IS that?

That's the Republican Banking system for you....The only way they'll loan you money, is if YOU already have the amount of money you'ld like to borrow..

Thereby further widing the gap between the economic classes.

banks first started when people would put money in a safe house so nothing would happen to it. they would be given a voucher, or reciet, for the amount they put in. eventually these vouchers became money because it is easier to pass around than solid gold. after a while the people who owned the safe houses realized that as long as everyone didn't come to claim their gold all at once they could loan it out. this means they could loan out money that wasn't even theirs. now there are laws that say a bank only has to have 10% of the total amount at any given time. with this law, they can loan out as much as 90% of money that's not even theirs. with every loan they give out, they collect interest on it. so not only are they making money on their money, but they are making money on everyone elses money as well. the further people go into debt, the more money they make on interest.
now, for arguements sake, lets say a bank gives out a loan for 20%. in 5 years the bank has collected as much interest as the loan itself. in 10 years they have collected double, in 20 years, quadrouple... all this money and, if left unpaid, the loan is still there in full!!!! now keep this in mind when you consider that the money they gave out wasn't even theirs to begin with.
most people know a lot of this, but very few realize how detrimental all this can be to those who aren't bankers. i think if people did realize how bad it was, no one would involve themselves in the system. that's just my opnion on banks though.

Rail against the unfairness of the system all you want. Here's a big secret I learned......LIFE AIN'T FAIR!!!!!!!! Of course you aren't going to be loaned money unless you're good for it.

If you want to lend your own money to individuals with no security or legal recourse to enforce repayment, lets meet up for drinks. For a company to do likewise amounts to criminal malpractice.

You might as well say the weather is unfair. Get over it.

Originally posted by thethrall_nb
That's the Republican Banking system for you....The only way they'll loan you money, is if YOU already have the amount of money you'ld like to borrow..

Thereby further widing the gap between the economic classes.

It isn't the Republican banking system, it's the SMART banking system. As said above, no one will loan you money unless their is a good chancce you will be able to pay it back.

Besides, are you honestly going to try to tell us there are no Democratic bank owners, or for that matter that Democrats have a different banking system?

Credit is like a drug. Its a way of getting something you can't afford and Americans are TERRIBLE about it. The American dream is heavily financed and because of this drug it requires both parents to work. Even then people have a hard time paying the bills. Imagine where we would be if it were not for easy credit and two parents working. Would we be that "rich"? Are we really even rich? What do we really own? Most people don't own (outright) their homes, vehicles or many of their belongings. How many have savings accounts? How many have a retirement account? We are all about credit because we aren't all what we think we are. But some day the bills have to get paid.

Also in the Netherlands there are more and more ads on the television
about loaning money. I think it's to easy for people to call and get the
money for a new television or computer becouse the family nxt door
also got a HD wide screen television. We most protect the people how
cant judge on the value of money..... Then there will be a lot less people
with problems.....