this post was submitted on 29 Aug 2023
519 points (93.3% liked)
A Boring Dystopia
9720 readers
507 users here now
Pictures, Videos, Articles showing just how boring it is to live in a dystopic society, or with signs of a dystopic society.
Rules (Subject to Change)
--Be a Decent Human Being
--Posting news articles: include the source name and exact title from article in your post title
--Posts must have something to do with the topic
--Zero tolerance for Racism/Sexism/Ableism/etc.
--No NSFW content
--Abide by the rules of lemmy.world
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
Sounds like the crazy lending during the sub prime boom. Not saying you are a bad bet but that seems like a crazy risk.
That's what I'm saying!! When my broker told me that I couldn't believe it. They know my income and banking balance, why on earth would they offer that loan?
But banks aren't stupid. Foreclosures are good for them in the long run and they know it.
When I was younger I worked at a bank (regional office doing loan verification of all things) 2009 ish and I can tell you banks can be and are often stupid, foreclosures are not good or wanted, but most of all the incentives for individuals don't line up with the banks overall best interest.