Quote:
Originally Posted by Dan.Linehan  Perhaps you should try working somewhere that actually does something positive for people, rather than continue to support a failed banking system that that creates fictitious money out of thin air using a bogus, ponzi style, fractional reserve system, and drives up commodity prices, while funneling money and assets towards the rich from the working class. |
But Dan, I don't work (1) in the US, nor (2) in an American bank.
This is one of the things that Americans often don't realise. Your financial system is quite different from most parts of the world.
For instance, I understand that in the US, if you fail to pay up on your mortgage, all the bank can do is seize your home. Elsewhere in the world, however, the bank will not only seize your home, but (if the market value of the home at that time does not fully cover the loan amount at that time) proceed to sue you for the remainder, garnish your salary and bank accounts, possibly making you a bankrupt etc etc.
This is why elsewhere in the world, people are much more careful about borrowing money to buy a home. A subprime mortgage crisis can really only happen in the US (unfortunately, the implications are worldwide).