You will earn what Obama wants you to earn.

[SciFiBoy]

TheRealMafoo said:

SciFiBoy said:

ok, i take your points about the crisis in the US, i think banks first duty should be to the consumer (public) but obviously they should also try to make a profit, thats why i suggested a better more progressive tax system and that the government buy up unused homes and rent them out to people at an affordable price, covers that 15% your on about, maybe even more, sure they dont own the house, but they have somewhere to live at least, as for small bussiness, we should try to make sure theyre profitable somehow as they employ so many people

For this to work, you would need to live in a socialist country. Things in the US don't work that way. In a capitalist society, business don't look out for consumers, consumers do (and the government is supposed to).

The question becomes tough, what's in the best interest of consumers? In this case, the banks were offering more to the consumer then they should, so it puts the burden on the consumer to not get themselves in trouble.

To say the banks should have had the consumer in mind, means someone at the bank needed to say “well, everything is in order, and the government backed loan you applied for went through, but in looking at how many kids you have, and your job, I just don't think this is a good idea for you. For your best interest, we are not giving you the loan. Please realize we are just looking out for you.”

yea, not sure how well that would have gone over.

my point is that the government should supply affordable housing, that way the consumer dosent need to take out a loan they cant pay back from the bank, and yes it is socialism, but i think socialism is much better than capitalism