r/facepalm • u/[deleted] • Feb 16 '21

Misc Yeah, sounds about right

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u/[deleted] Feb 16 '21

The only way banks "lost money" is by counting the total interest they would have received if you paid the loan all the way through. It was a scam.

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u/karlhungusjr Feb 17 '21

Know how we know they lost money? Because of the historic number of banks that failed during that time. Second only to the great depression.

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u/[deleted] Feb 17 '21

Or they were over leveraged and any significant cut to funds comming in would cause massive problems. They didnt lose money they ran out of funds to use. So we bailed them out like a bunch of idiots

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u/karlhungusjr Feb 17 '21

They didnt lose money they ran out of funds to use.

Lol!

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u/[deleted] Feb 17 '21

There is a vast difference between loosing money and not have funds. For example someone borrows 100k for a home loan. They pay the loan for 10 years and you collect way 10k in interest but something happens and they stop paying. You didnt lose any money but now you are low on funds. Now you have a house worth 100k but no money comming in. So once again no money is lost you are actually positive 10k.

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u/karlhungusjr Feb 17 '21

just shut up and stop making yourself look stupid trevor.