Try peer to peer lending instead:
http://news.ycombinator.com/item?id=841484
Who trusts banks these days anyways? When they go bankrupt you lose your home.
http://news.ycombinator.com/item?id=841484
Who trusts banks these days anyways? When they go bankrupt you lose your home.
As a result of the financial crisis many people lost their homes. Maybe that was too complex for you to understand the connection and you still trust your bank. That's OK for you, it's your choice. Still many people don't trust banks anymore with good reason.
I don't have a variable rate on a credit card even though I never go into debt, so why would I want it on a $200,000 up-front debt?
"When disagreeing, please reply to the argument instead of calling names. E.g. "That is an idiotic thing to say; 1 + 1 is 2, not 3" can be shortened to "1 + 1 is 2, not 3.""
"Nothing you said about mortgages appears to be true".
"The root cause for the current crisis seems to be the excessive use of leverage.
To take an example, a company with a net worth of US$ 25 billion borrowed 26 times its net worth and creates leveraged funds of US$ 650 billion to invest or lend them. When a small portion of the company's investments turns bad, as is the norm for the industry, the company's capital is under threat. To put things in perspective a 3.8 percent misjudgment in their books was enough to wipe out their shareholders' capital of $ US 25 billion."
http://economictimes.indiatimes.com/Features/Financial-Times...