Big banks lend to corporations over consumers
Lending was up in the first quarter, but that jump has hidden the fact that individuals are still having a tough time getting loans.
Most people are moving on now.
Credit Scores are just another way for Corrupt Banking Entities and their Elite Masters to become even bigger Parasites off the wages of the Working Poor and Fading Middle-Class. Dumb and Dumber will tell you otherwise.
Individuals with good credit can still get loans.
Nothing controversial here.
This article is really a waste of electrons...
I'm not sure who banks can give loans to now with the new lending laws, post 2008 many people lost their homes claimed bankruptcy and are probably just now figuring out how to make it again. Last I checked banks don't like to lend to those who have claimed bankruptcy, which who can blame them.
Kids coming out of school or college cant find work, or have no credit history, or are buried in student debt, which has killed the new generation of people to lend to while baby boomers hang on as long as they can to hopefully retire making up for the 2008 debacle and devastation of their nest eggs.
Dodd-frank legislation changed the game for consumer lending.
MG states, "A simple rule would have avoid the whole mess. No insured bank may write a mortgage without 20% down payment. This is why Canada avoided any housing meltdown. They have this rule."
First of all, things in Canada are far more Regulated then here in America. Something that the poster making a Case for Canada wants no part of. Yet he wants to praise our Neighbors to the North whom have far tougher Standards across the Board. Don't praise something that you continually fight against, tougher Regulations. Aka bring back Glass Steagall something that was voted on and who and whom voted for it isn't talked about for obvious reasons. Nor the fact that it was a VETO proof Majority Vote.
20 out of the last 21 years, Canada has increased their Crude Oil Products to America going from 1.1Mil Barrels per day to now over 2.5Mil Barrels per Day. 20 years ago, the average price of Gasoline was about $1. Today that average price is fast approaching $4. Any Country that was dumb enough to accept America's toxic Derivative scams PAID a Major Price. Apparently the Canadians had tougher Regulations in place that avoided that. Add in the Spike in Energy prices, by far their biggest Export, that's likely why they avoid many of the issues that others did not.
Some posters love to present a Farce Case to what happen during the Great Recession and why it happened. Their BS has never held up to FACTS. Our FED alone has printed more then TWICE the total Size of Canada's total GDP, that just give a hint of the sheer size of the Problems. The Scam Derivative Market is $500-700Trillion and nothing has been done to exactly solve that problem, only to delay the inevitable.
Dave years ago most Banks in the U.S. (legitimate) required a 15-20% equity or down payment on a home or piece of property...50s-70s...From the average buyer or home purchaser..
FHA and VA may have been structured a little differently..?
Business, and farm loans were also handled in various ways..
Credit Unions became popular in the 50-60s, and members had other standards.
And they functioned under different rules than banks...
There were a lot less defaults with CU's loans back in the day...
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