Should Greed Be Regulated?
Today America faces a dire problem in the banking system, $1 trillion in adjustable interest rate mortgages are due to increase next year and many homer owners will default on these loans. This could lead to Americans across the nation losing their jobs as capital dries up and the USD loses more value.
This happened because greedy bankers got together with greedy borrowers who wanted more than they could afford.
The home loan industry is different than any other industry in America. In no other instance can greedy businessmen and greedy consumers combine to create financial problems that will effect all Americans.
Given that greed is one of the 7 deadly sins, I am surprised that conservatives, who heavily depend on religious values, don’t see the need to regulate home loans more closely to insure loans can be repaid.
What do you think? Should greed be regulated?
If you enjoyed this post, please consider subscribing to our FHA Mortgage Blog feed and get future articles delivered to your feed reader.
Comments
No comments yet.
Leave a comment