- Joined
- Jul 19, 2008
- Messages
- 1,519
If you havent heard there is a MAJOR problem with the banks in us right now.
All the banks started getting people to invest and buy homes when they didn't have the money but...you know the banks they didn't care.
They would give people houses and lend them 125,000 dollars and say well for the first 3 yesrs you only got to pay 800 dollars a month.
I know what your saying 800 a month not to much but then after that it goes to 2,000 - 4,000 dollars a month.
So you had hundreds of people not being able to pay for there houses after 3 years so what did they do????? For close.
This means all that money was on the bank now.
So 5 major banks ( if you have names list them ) went bankrupt because they couldn't pay off all this money.
Also now because theres all these houses on the market you can get a $120,000 house for $80,000.
Thats not all now this effects the whole country which now is losing alot of money.
They can't afford to trade to much now so wahts happens?
Canada, China, Russia and many more countries just lost there #1 trade partner.
So: Us loses bank
Lose money
Trading partners get hit...hard
America owes one TRILLIAN DOLLARS!!!!!!
How can they pay it?
Was big news but for you who dont know:
( im in canada and right now hating america.
All the banks started getting people to invest and buy homes when they didn't have the money but...you know the banks they didn't care.
They would give people houses and lend them 125,000 dollars and say well for the first 3 yesrs you only got to pay 800 dollars a month.
I know what your saying 800 a month not to much but then after that it goes to 2,000 - 4,000 dollars a month.
So you had hundreds of people not being able to pay for there houses after 3 years so what did they do????? For close.
This means all that money was on the bank now.
So 5 major banks ( if you have names list them ) went bankrupt because they couldn't pay off all this money.
Also now because theres all these houses on the market you can get a $120,000 house for $80,000.
Thats not all now this effects the whole country which now is losing alot of money.
They can't afford to trade to much now so wahts happens?
Canada, China, Russia and many more countries just lost there #1 trade partner.
So: Us loses bank
Lose money
Trading partners get hit...hard
America owes one TRILLIAN DOLLARS!!!!!!
How can they pay it?
Was big news but for you who dont know:
( im in canada and right now hating america.
So where'd you hear it?
