do u agree that a person with more money has more power??
• United States
14 Jan 09
An ancient saying.... "He who has the gold, makes the rules"..... quite frankly I have never heard anything more true! I was told this by my boss when I was processing home loans - about 9 years ago. That stupid boss wasn't worth the pot she you-know-what in... but this was the only intelligent thing she ever said. I was supposed to do the "state income" loans. For those of you that don't know what that is, it is part of the reason for the current foreclosure issue today - a borrower just literally states what their income is... and that is what is used to approve the loan! No proof, no verification... literally just them to write it on the 1003 (application) and it was accepted. I couldn't believe this as I know these borrowers were around the $10 an hour wage earners and they put down $50,000 a year EACH!!! I just couldn't make myself do this! It was such a lie! I didn't want my name on the loan or anaythign to do with it. I complained to the boss..... and after a long monolog on my part... her simple explanation was...."the loan company sets the guidelines. Have you qualified these borrowers within or meeting those guidelines?" I had to say yes. And she said, "then you have no say so about it at all." I said "but how can they do this? Surely they aren't stupid enough to think these people really make this much money" (They also had to state their job description), She said again "have you qualified this loan within the loan companys stated guideline?" Again I had to say yes but followed it with a "WHY? WHy can they do this?" SHe said "He who has the gold makes the rules. You just have to follow the rules". They had the money, they had the power. Throw in the fact that even now...all those that had the money and made the rules... STILL have the money and will make new rules as this bail out only transfered ownership of the loan's debt and bailed out those that had the money and made the rules... so they can do it again and not have to pay for their "guidelines" and rules.
14 Jan 09
Yes, definitely agree. But sometimes it depends on a person how will he/she used her/his money. We can be more powerful If we have money but the question is are we happy, maybe the right thing to do If we have a lot of money is we have a power to help people who really needs food and shelter.
14 Jan 09
Hey, Yea I might have to agree with you on that. If you are poor you can't really do anything, even if you went to court, you wouldn't have enough money to get a reasonable lawyer. But yes, I think that a person with more money has more power. Happy MyLotting!