Banks are to blame for their own reckless lending

Purple

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Giving her that money was like giving chocolate to a two year old.
And unless she was actually two at the time she is responsible for the decisions she made and should face the full consequences if things go wrong up to and including losing her family home.
 

Gordon Gekko

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There’s very little that someone can do if they lose their job during an economic crisis.

If I’ve borrowed €400k, €500k, or €600k, and I’ve lost my job, I’m goosed either way.

In Ireland we seem to delight in expensive enquiries and navel gazing, when everyone knows that the answer is “it’s complicated”.
 

Leper

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And unless she was actually two at the time she is responsible for the decisions she made and should face the full consequences if things go wrong up to and including losing her family home.
Was your former neighbour not greedy in taking out those loans? You know, to buy things she didn't need with money she didn't have.

Incidentally, we can't see you on the Internet so it's not really possible for us to read your lips!:)
Between the neighbour and the Banks which was the biggest simpleton or were both simpletons.:)


1. I agree with Purple she should be held responsible. Hardly though! The manager of her bank shares responsibility too.
2. Of course she was greedy. So you have greedy banks and greedy clients - there is only one outcome.
3. The Biggest Simpleton is the Irish Taxpayer who with mouth closed and whistling Dixie took on all the debts and paid up without a whimper.
 

Purple

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The Irish taxpayer didn't pay the debt, they funnelled money into the banks to protect the depositors and the bondholders. If they'd paid the debt then people wouldn't still have mortgages.
 

MrEarl

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There’s very little that someone can do if they lose their job during an economic crisis. ....
Very true, and they are the people who deserved assistance.

But that's an entirely different scenario to someone who just decided to borrow more than they could afford to comfortably repay because they wanted to show off to their friends and family about what a big house they had, or what a fancy car they had, or that they owned properties in seven different countries etc. Many of those people continue to blame the Banks, rather than accept responsibility themselves.
 
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