Why do we hate the banks so?
By Numerian posted by Michael Collins
"The deadbeat accusation against defaulters says Americans should have known how much debt they were taking on and what the risks were for themselves if disaster should happen to them. The problem with this argument is that millions of Americans did know and did ask about these risks, but were given false assurances, or their concerns were brushed off by the banker. In some cases the banker outright fraudulently changed the consumer’s application when it came time to process the loan for approval. This was not a process where caveat emptor applied, because the buyer was from the start at a disadvantage to the bank. " Numerian
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