Have Gamblers Caused the Financial Downfall?
As we all know we are in the midst of a huge credit crisis and the main reason this has been caused is because of the banks. Over the last decade banks have been giving ridiculous amounts of money away to people that cannot afford to pay it back. This has all led to the demise of the banks and businesses that were relying on them failing too.
I have always had a motto that if you cannot afford something then you should not buy it, why are people getting out huge mortgages that they cannot afford the repayment for? I mean lending huge amounts of money. So this is why banks need to buckle up and start thinking carefully about who they give their money to in the future.
I have listed down a few situations where the banks definitely should not be lending out.
1) People that are on low income, what the banks are forgetting, is that people do not just have their mortgage to pay. They have travel costs, food costs, bills and much more that have to be taken into account. So even a person that is earning around 25k, should not be borrowing huge amounts of money.
2) How long have they been in their jobs? There are a huge amount of people in the world that just hate working and end up getting sacked from every job they get. These lazy people then decide to get back into work after a year and as soon as they get their first wage packet they just go out and get a mortgage and expensive cars on finance. And in a truth, no one can be bothered to tell these people any different, rather the opposite actually, as what the banks do is just hand over the money.
3) One of the more imprtant aspects that the bank should look at is the obsessive habits people have. How many times have gambling addicts got given a mortgage and car and then blow there monthly repayments on playing online poker or roulette. Addicts just will not stop so lending them money would be a huge no no.
For Great Rakeback deals and poker tips
No related posts.