Originally Posted by
IBPilot
wrong.....most high interest rates are charged so the bank doesn't lose money on high risk loans. And the more people default, the higher the rate goes. or the loans stop. But if they stop people cry unfair. And how much in taxpayer dollars have gone to bank bailouts (or unpaid student loans), whether legit or not? So yes, I pay for your defaults either in interest rates or taxes.
Yes, but if
your credit is good
you don't pay those high interest rates, so how exactly are you subsidizing those with bad credit?
The banks shouldn't have been bailed out. They made their bed (loans they shouldn't have) they should have been allowed to lie in it. It's as much their fault as the people who couldn't repay.