[citation][nom]ap3x[/nom]An you must be naive enough to think that the problem is one or the other. The issue is double-sided. There is an issue with deceptive practices, small print, and lack of disclosure but also there is an issue with people not properly arming themselves with the information required to make and informed decisions on what could be the largest purchase of their lives.Corruption exists because the they feel they can get away with it. How do you make sure you are not taken......inform yourself. The home buying process is an extremely emotional process, it is easy to get caught up in the "this is the house of my dreams" or any of other emotions that effect how you make a serious decision. These 3,5,7,10 variable rate interest only Mortgages are tools and are meant to be used certain ways. Allot of people fell in love with a home, could not afford the monthly on a 30 year fixed but could on a interest only feeling that they would be able to refinance later or afford the adjusted payment and plans fell through. It happens. Some people where not informed or where under informed on what could happen when the loans payments adjusted and where surprised when they did. A number of things goes into impaired judgement especially when making a big decision like a mortgage but at the end of the day people have to do their due diligence and the fact that some Banks (not all) worded things, or under informed some people does not negate the fact that people should be responsible especially when making large life changing financial decisions.If people actually took the time to review all of the print that they are singing onto you will find there would be much less of this kind of thing.How do you keep the rats away.....stop leaving out the cheese. (corny but true 🙂)At the same time, we should have laws in place that define disclosure and insures full disclosure or face penalties. You attack the problem at both sides, that is the only way to stop it. You don't hack their website. That does nothing but make them invest in a better security infrastructure.[/citation]
I'd kind of like it if my bank has a better security infastructure to begin with. If they aren't secure enough to keep out script kiddies, they certainly won't keep out real fraud professionals.
Thing is, if I get sick, I can look up my symptoms on WebMD and make a self diagnosis, but everything serious I would take to a doctor. If the doctor gives me a different diagnosis I would trust the doctor, because he is a professional. It's the same with a bank, people see them as loan professionals. They expect solid advice, especially from larger banks. It is their JOB to assess the capability of loans. They lied to the customers for their own gain, there should be an amount of trust in your bank because they are in business because of your money.
People do need to become more educated though and pay more attention. They support bloodthirsty corporations every day, the corporate media is lying to them constantly, and their government is robbing more of their freedom with each passing week. If it isn't stopped soon, the only way to fix it will be a complete revolution and rebuilding.