/biz/ - Business & Finance

[Anonymous No.16893398]

Why are the banks blamed but also not the idiots taking loans they could not pay off?

[Anonymous No.16893414]

Because banks don't have feelings.

[Anonymous No.16893415]

>>16893398
Protip: the entire movie is propaganda

[Anonymous No.16893418]

>>16893398
banks created the financial products in the first place. If they had not existed then it wouldn't have happened

[Anonymous No.16893431]

>>16893398
Did this movie even name the Jews?

[Anonymous No.16893432]

>>16893415
Is the book?
>>16893418
What about all the idiots taking loans though?

[Anonymous No.16893441]

>>16893415
Thankfully it inspired a bunch of retards to short the market and lose money

[Anonymous No.16893448]

>>16893431
No.

[Anonymous No.16893451]

>>16893432
they are idiots, misinformed and thought they were doing what is normal.
Normies are a herd and the banks were the sheepdogs

[Anonymous No.16893457]

>>16893451
Can we blame the banks then?

[Anonymous No.16893462]

because nobody would go to the movie
but yeah I had a simmilar sentiment to OP after watching, the big short. nobody criticized the greed of an average murican. it's like the director assumed that people are inherently retarded and banks should take responsibility for not facilitating ways for said retards to financially hurt themselves. that may very well be true though.

[Anonymous No.16893465]

>>16893415
> The entire movie that's budget was funded by big banks and is propaganda skewed against big banks so that people will get angry at banks.
Give this anon a round of applause

[Anonymous No.16893471]

>>16893432
The banks are supposed to do due diligence and assess individual cases on their merit when approving loan applications. If some retard walks into a bank and asks for $500,000 to buy a shack in shitsville, is the bank not the bigger retard for giving it to him?

[Anonymous No.16893472]

>>16893432
Its all propaganda bro.
Why do you think the movie or book was made?
To forcefeed a certain narrative down normalfags throats.

>>16893441
kek

[Anonymous No.16893488]

>>16893415
How so? Not american, so I don't know the specifica.

this movie made me invest in stocks lmao

[Anonymous No.16893490]

>>16893465
When you are angry at banks you are not angry about the jews who actually did it

[Anonymous No.16893495]

>>16893398

Because lending money is supposed to carry an implicit risk of default on behalf of the borrower which is taken into consideration when assessing the creditworthiness of the borrower and assists in the given interest rate.

It is the onus of the lender to assess this risk as correctly as possible on behalf of the stakeholders in the lending institution to which the loan originators and underwriters have a fiduciary duty.


All this was thrown out the window prior to the 2008 crisis as mortgages were assumed to be too important for people to risk default on; which didn't take into account that "keeping ahead of the jones" is a thing and Americans are high on the economic success of the 80s and 90s.

[Anonymous No.16893505]

>>16893490
My hatred for grifters transcends my hatred for Semites.

[Anonymous No.16893512]

>>16893415
the message the movie is that these are real lives and about the people who are getting effected

[Anonymous No.16893513]

>>16893495
Good poast.

[Anonymous No.16893521]

>>16893488
>How so?

All of the subprime loans in question were given to illiterate Mexican immigrants, who naturally didn't pay them. The movie sandpapers over this.

[Anonymous No.16893535]

Because they are retards, hence why they have credit scores to help lenders determine whether they'll actually be able to pay off their loans

[Anonymous No.16893549]

>>16893495
I understand the banks are hugely to blame. But they weren't loaning to sheep. But people why are people who also benefited for a while, not blamed.

[Anonymous No.16893576]

I am an actual cutthroat capitalist. I don't care if others get burned by what I do because they're NPCs easily replaceable by anyone. It truly is a doggy dog world and the unwashed masses are a diamond dozen. People don't have inherent value. You gotta make something out of yourself and earn value.
Any questions?

[Anonymous No.16893589]

>>16893471
If they make off with money, no.

[Anonymous No.16893640]

>>16893549
Because stupid people will do stupid things, You're not going to stop that. They got what they deserved in the end for being stupid, but I wouldn't blame them for taking out mortgages they couldn't pay, I'd blame the banks who gave them mortgages knowing they couldn't pay, and caused the financial crises as a result of this widespread practice.

[Anonymous No.16893662]

>>16893398
It was the government's fault.

[Anonymous No.16893671]

>>16893471
>What is FISA?
The government essentially forced banks to loan to degenerates as long as they met the ((broad)) qualifications

[Anonymous No.16893695]

I don't think we can blame them from a point of a systematic society. As a social issue, of course it was their fault. You can't sit down with every retard and explain the subtleties of mortages to them so they can come to their own conclusion, it's up to them to take control of their own level of knowledge and control in their own life so they can develop a fully formed opinion. Society is built around systems though, so it's pretty much a pre-req for corporations to define what their absolute bottom of the barrel, least intelligent least engaged customer looks like and build their processes around that. Clearly the banks did not do that since these people obviously found ways to default on their loans, so the only conclusion you can come to is the banks either A. Did not do their due diligence and underestimated the support their customers required, or B. The banks knowingly lowered their requirements below a level that could be sustainably supported.

[Anonymous No.16893705]

Because modern life is set up to subsidize retards

[Anonymous No.16893716]

>>16893398
Because the idiots taking loans they could not pay off didn't realize they couldn't pay them off.
They saw "0 down, 0% interest for your FIRST 3 YEARS with INSTANT APPROVAL OPTIONS BOI!!!!!!" and thought "Wow, what a deal!". What they didn't realize was that by having no down payment and putting an adjustable rate mortgage they were shooting themselves in the foot. The housing market of massive McMansions at the time didn't help either.... when you extend people a 400k line of credit to buy a house on 60k/yr household income, you KNOW they aren't paying that back, even if they think they can manage the mortgage payments.

At the time the banks realized it was a foreclosure market plan, they just didn't care since it meant they could sell an (on the surface) secure package to the investment traders.

[Anonymous No.16893729]

>>16893398
Because average person is a dumb fuck who doesnt have financial responsibility therefore they are poor fucks who thinks they are smart by trying to buy 3 houses they cant afford Fuck the POOR

[Anonymous No.16893746]

>>16893471
In most cases the loan staff were just blatantly writing down a much higher income on the application and not taking current living expenses into account at all

[Anonymous No.16893780]

>>16893662
This was a huge factor missing from the movie. Big government types we upset that the banks weren't lending to low IQ blacks and wrote all sorts of "equal opportunity lender" horseshit into law. If you look into WHO defaulted in the housing crisis of 2008, it is literally all the people they were trying to "help". This is happening again in the student loan space by the way. Giving minorities undefaultable loans so they have "equal access" to "education", who go on to drop out of college at astronomical rates, but not before becoming a debt slave in the process.

[Anonymous No.16893794]

>>16893549

I put it in the same category as student loans which will be the undoing of the American economy. Do you blame naive 18 year olds for listening to their parents and taking out stupid amounts of debt for worthless degrees crippling them financially for the rest of their lives? Loans which cannot be defaulted on?

Sure you could blame them but the fault really lies with the government securing that debt and the banks going along with the obviously immoral secure-profit scheme.

"Hurr-durr blame stupid people" isnt sufficient. The onus must remain on the lender. When I land my siblings money I treat it as a gift in my mind, regardless if I ever get paid back. I keep the onus on myself for lending the money.

[Anonymous No.16893817]

Retards can't be expected to act in their own self-interest, much less the interests of the greater economy. There's a reason why retards are unable to borrow money they can't pay back in an ideal economy.
>give loans to anyone that wants one
>buy up every other shit loan on the market
>fill up entire mortgage pools of shit loans
>build securities out of the pools of sit loans
>conspire with rating agencies to defraud their value
>sell entire them to unsuspecting customers
>short everything they sold once they're off their books
>WTF POOR PEOPLE HOW COULD YOU DO THIS!!! FUCK!!!!!!!
The entire crisis amounts to criminal racketeering and fraud. Campaign finance deregulation allowed derivatives to become a free-for-all speculative market exactly like a casino. Everything in this country is designed specifically to fuck you.
>>16893662
>>16893780
>implying they weren't compensated for their efforts
The entire thing was engineered top down. The world economy didn't just go "whoopsie!" and almost kill itself.

[Anonymous No.16893823]

>>16893695

Not to mention they also willfully invented diversification schemes which lowered risk on paper, but didn't consider the possibility that the ratings themselves weren't accurate. Lack of due dilligence.

[Anonymous No.16893848]

Retards can't be expected to act in their own self-interest, much less the interests of the greater economy. There's a reason why retards are unable to borrow money they can't pay back in an ideal economy.
>give loans to anyone that wants one
>buy up every other shit loan on the market
>fill up entire mortgage pools of shit loans
>build securities out of the pools of shit loans
>conspire with rating agencies to defraud their value
>sell them to unsuspecting customers
>short everything they sell once they're off their books
>WTF POOR PEOPLE HOW COULD YOU DO THIS!!! FUCK!!!!!!!
The entire crisis amounts to criminal racketeering and fraud. Campaign finance deregulation allowed derivatives to become a free-for-all speculative market and work exactly like a casino. Everything in this country is designed specifically to fuck you.
>>16893662
>>16893780
>implying they weren't compensated for their efforts
The entire thing was engineered top down. The world economy didn't just go "whoopsie!" and almost kill itself.

[Anonymous No.16893853]

>>16893817
Of course, no matter who is getting fucked or how many, you can be assured that the big banks connected with the Federal reserve are going to get their billions of profit.

[Anonymous No.16893884]

Banks gave them the loans knowing they couldn't pay it off
People assume if a bank approves finance then they must be able to afford it

[Anonymous No.16893908]

>>16893521
Well, this doesn't change the narrative this much. Obviously holywood wouldn't bring up anything race/iq related, but the main story remains the same, no?

[Anonymous No.16893928]

>>16893521
Did the banka know who they were giving loans to? Stop being stupid.

[Anonymous No.16893972]

>>16893398
Personally I blame the state and central banking regulation. They're the ones fucking with interest rates so people buy in at high prices low interest to be fucked later by high interest. They're the ones who bought the banks out. They're the ones who didn't hold the banks to their fixed interest rate loans.

[Anonymous No.16893991]

>>16893465
I just want you to know you're a fucking fagtard and you should get off biz. You know nothing of value, you're a info leech and you're never going to make it.

[Anonymous No.16894922]

>>16893465
It IS propaganda but propaganda to make you blame the banks instead of the real culprit, the federal government who backed the banks

[Anonymous No.16895020]

The big short was awesome, and it makes me sad we don't get more financial films.

The opening is pure kino

https://www.youtube.com/watch?v=psCF_AHuLM4


>the banks are the problem!
>no, it was the public for not paying their mortgages!

they were both at fault you spergs

[Anonymous No.16895033]

>>16893505
Then your hatred is confused

[Anonymous No.16895079]

>>16893398
nig ger the banks all defaulted on their loans and got bailed out by tax money and freshly printed money up to this day what the fuck are you talking about.
capitalism failed free market failed everything they make you believe in is a lie obviously easy to see for everyone with a three digit iq

[Anonymous No.16895227]

because the goverment forced the banks to give loans to niggers and spics, even though the banks knew they couldn't afford it and since minorities aren't allowed to be wrong in America...the financial instruments that Wall St. was trying to pass off were complete horseshit as well. So basically it was the (((bankers))), the federal gov't, low iq shitskins, basically everybody except the white middle class.

[Anonymous No.16895363]

>tfw everyone ITT is defending the merchants

interesting change of events

[Anonymous No.16895392]

>>16895363
I know the bankers were greedy but the people are also not faultless. Nor the gov. Wonder why they got off all high on the horses.

[Anonymous No.16895399]

The banks did nothing wrong or did borrowers. Literally nothing illegal happened. They simply acted ina selfish way to make profit which is what they are susposed to do.


The gov and ratings agency lied and covered up shit but really the major moral crime imo is when people who lost money were given it back. That was the actual crime..

[Anonymous No.16895480]

>>16893398
Housing was thought to be too important/big to fail and so the banks started to lend to wider and wider demographics that had no business taking loans. It was all peachy until all those adjusted rate mortgages put everyone over the barrel and nobody but a handful recognized it ahead of time. The irresponsible lending on the side of the banks created the crisis.

[Anonymous No.16895488]

When will the next big crash come?

[Anonymous No.16895511]

>>16893462
>banks should take responsibility for not facilitating ways for said retards to financially hurt themselves
Auto manufacturers are required to hold extremely strict standards and regulations so that retards don’t hurt themselves. Why not banks?

[Anonymous No.16895518]

>>16895488
Whenever they want, not sooner not later.

"The Board of Governors (the Board), as the issuing authority for Federal Reserve notes, approved and submitted its fiscal year (FY) 2020 order for approximately 5.2 billion Federal Reserve notes, valued at $146.4 billion, to the U.S. Treasury Department’s Bureau of Engraving and Printing (BEP) on August 6, 2019

[Anonymous No.16895530]

This is a misleading graph because it doesn't show total value. Anyone have a graph for that? Going back to 1913?

[Anonymous No.16895566]

Well this would take some time in excel to figure out the dollar value for each year.

https://www.moneyfactory.gov/resources/productionannual.html

[Anonymous No.16895595]

Seems like inflation should be higher. Money increased 35% last 5 years

[Anonymous No.16895618]

How much money exists that there are no FED notes for?

[Anonymous No.16895619]

>>16895530
>>16895566
>>16895595
It will crash before 2022

[Anonymous No.16895673]

>>16893451
No. Banks are the wolves that prey on the sheep.

[Anonymous No.16895680]

>>16895619
Anything in particular give you that date?

[Anonymous No.16895691]

>>16895680
Just looking at the charts. Something will happen. Maybe trump will be involved. Maybe he won't get re-elected and it will crash. But something will happen

[Anonymous No.16895749]

>>16895691
Well they used to use inflation to crash economies but I haven't kept up with the methods.

[Anonymous No.16895775]

>>16895749
the thing is if inflation rises, the intrest rate will rise and people will take money from the broker accounts and get a safe bank return on their money. So inflation is a possibility, general intrest rise also, which they need to recover from a crash

[Anonymous No.16895841]

I used this movie to redpill my parents on central banks and the Fed on the 2008 crash to help explain what’s happening today. It’s very good for that purpose and it’s easily digestible. I’m working up to the Jews. Baby steps.

[Anonymous No.16895857]

>>16895841
Don't read the Unseen Hand it's the darkest black pill I've ever popped.

Regarding 2008, found this nugget:
It seems obvious that the LPS “Network System” is not organized to assure accuracy and accountability. A study performed in 2007 by Credit Slips own Professor Katie Porter and funded by the National Conference of Bankruptcy Judges found that in 70 percent of the cases studied mortgage servicers claimed homeowners owed an average of $6,309.00 more on their loans that the homeowners believed was owed. Professor Porter also testified before the Congress earlier this year that servicers commonly foreclosure when they do not have the legal right to do so, impose unwarranted or illegal fees or charges to the loan, and miscalculate how much families owe.

[Anonymous No.16895878]

>>16895775
There is only ONE way inflation can occur - increase in money supply. ONE bank controls the money supply - the Fed.

[Anonymous No.16895892]

>>16894922
Fed = Banks
>>16893991
Say my name bitch

[Anonymous No.16895913]

>>16893794
then that's not a loan dummy that's a gift and if you lend to people telling them it's a loan but really it's a gift that's just stupid and kinda rude that you'd even pretend it's "loan"

and if you want to play the "18 y/o can't be responsible" game then let's go ahead and take away their rights to vote and act independently until they are older but even then people will whine that a 20,25 y/o is also too young.

[Anonymous No.16895933]

Banks do whatever the fuck they want

Judge Elizabeth Magner, in McCain v Ocwen, ______________, stated that the evidence adduced in multiple cases involving Ocwen showed that the servicer regularly acted in “bad faith” and engaged in a “systematic abuse” of the bankruptcy process by charging improper fee and attempting to collect bankruptcy-related fees without court approval and after many of the cases had been closed upon the debtor’s successful completion of their Chapter 13 plans.

[Anonymous No.16895942]

>>16893928
the banks didnt care, they were always going to get bought out because it was obama that forced them to loan to retards

[Anonymous No.16895962]

blame the addicts o wait blame the local dealer o wait blame the plant or powder o wait blame...

the jew is laughing all the way to the bank

[Anonymous No.16896131]

>>16895488

Conveniently 3-6 months before the election

[Anonymous No.16896311]

>>16896131
So this summer?

[Anonymous No.16896321]

>>16895857
This makes perfect sense. Imagine the amount of numbers and data without a meat bag's name or identity attached to it?

[Anonymous No.16896365]

>>16895673

The banks lost money though. They (the sheepdogs) herded the sheep to their own slaughter and some of the sheepdogs died as a result.

[Anonymous No.16896375]

>>16895841
except the jews part isn't real.

[Anonymous No.16896393]

>>16896131
conveniently at the end of 2021 so noone suspects anything any the crazy jew conspiracy theorists can suck it.

[Anonymous No.16896724]

>>16893462
That IS true. It's why true libertarianism doesn't work. It's why drugs shouldn't be legalized.

Sure YOU have self accountability but statistics are statistics whereas 5% of the pop will become complete abominations

[Anonymous No.16897376]

Why yes I want to short the US housing market and I'm worried that your puny bank won't be able to pay up when the time comes, how can you tell?

[Anonymous No.16897422]

>>16896375
lol

[Anonymous No.16897458]

>>16893705
So Much this

[Anonymous No.16897550]

>>16893398
A bank should not give massive loans to idiots with no credit history or proof of income.

[Anonymous No.16897569]

Great clip from the movie:
I literally watch it a few times every week.
https://www.youtube.com/watch?v=xAlCbE-yCTw

[Anonymous No.16897574]

>>16897550
If you loaned a literal drooling retard $1000, and he shoved it all up his butthole then shat it down the toilet. Would society honestly blame the retard or the fool who loaned a retard $1000?

[Anonymous No.16897627]

>>16893398
Because people want to feel like victims no matter what.
>Boohoo, look at me. I am such a victim. Now give me your money - or else!

This is why people always blame and hate banks instead of retarded normies taking too much debt.

[Anonymous No.16897665]

>>16895020
Everything is easy to blame on the hapless dullard that takes the loan in hindsight.
At the time though the big advice was to get into homes because why would housing ever pop like it was a bubble or something? Not to mention that banks, despite holding us under their thumb of the (((credit))) system decide to disregard the system entirely when it suits them. Plus no one ever gets told exactly what they're signing up for, its always covered in layers of jewspeak.

[Anonymous No.16897769]

>>16897569

I wonder if lawrence was based on a real guy, and how he felt about Burry after he made him serious bank