Quote:
Originally Posted by Ozy_Flame
I understand, and good points made, but why can't banks provide those red flags? Are they happy to have people default on house payments? I guess they'll do whatever earns them the buck, throwing ethics and social responsibility to the wayside.
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They don't care because at least in Canada, the government has backed those loans with CMHC insurance. In fact they love giving those loans out because they're guaranteed.
The problem isn't necessarily the banks, it's the government which allows and encourages this to happen.