excuses excuses, page-54

warnie

you are getting totally derailed now

why are you going on about subprime in Australia for? its not an issue. and no one is talking about it. so god knows why you want to argue about a AU subprime?

secondly, yes you can walk away from a loan in the US and not AU. however, if you have no money to pay out your loan when you default. the bank still has to pay credit on the money it lent you from its lender!!!!

if this happens in large volume, banks lose profit on loans, and the cost of debt to borrowers goes up to balance it out.


again "Whether the broker gets paid more commission or not is irrelevant." what the hell are you on about there? - having another argument with your self?

and yes, i know the US was lending money to people wiht no jobs and assets.. it was called subprime.. that what the big deal with the "Credit crunch" and why stock markets are so poor and banks are losing money.. HELLO this is old news it all came to light in august.