tag:blogger.com,1999:blog-10635442.post3018062287435252641..comments2023-10-21T03:07:18.017-05:00Comments on Enclave: States Have Options on Fixing the Mortgage Crisis Caused by the Lending IndustryS-townMikehttp://www.blogger.com/profile/05948307051485318061noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-10635442.post-1220462684246526182008-01-16T20:41:00.000-06:002008-01-16T20:41:00.000-06:00Lower class neighorhoods tend to be besieged by pr...Lower class neighorhoods tend to be besieged by predatory lenders who prey on consumers by playing up dire financial situations they find themselves in and "marketing" their product as a low risk answer.<BR/><BR/>I am always amused at how defenders of so-called "free" markets hold consumers more responsible than marketers and lenders as if the whole idea of marketing a product does not involve twisting truths and hiding facts and downplaying risk and lobbying against consumer protection in order to sell something.<BR/><BR/>Predatory advertising (as opposed to honest advertising; you don't mean to argue that all advertising is honest do you?) is an appropriate term for a lot of subprime lending practices in poorer communities. Any one of us might find ourselves at any time drowning and grasping at straws that are pitched to us as life lines. I just believe that if businesses are going to advertise life lines, they shouldn't hocking straws.<BR/><BR/>BTW, encouraging the government to regulate the mortgage industry is caveat emptor by another name.S-townMikehttps://www.blogger.com/profile/05948307051485318061noreply@blogger.comtag:blogger.com,1999:blog-10635442.post-35380799526641166782008-01-16T16:15:00.000-06:002008-01-16T16:15:00.000-06:00Predatory advertising? That's the first time I've ...Predatory advertising? That's the first time I've heard that phrase. Funniest thing I've read today. If you can read the ad, you can read the contract you are signing. If you can't read the contract, don't sign it. If you sign a contract you didn't read, don't come crying to me. Nobody held a gun to your head and made you sign it. No amount of "Predatory Advertising" can force you to sign anything against your will.Anonymousnoreply@blogger.com