Can we legally cut the banks out of things?
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01-11-2012, 05:50 PM
Can we legally cut the banks out of things?
I was thinking about the whole housing problem and people losing their homes. My thought is that I am pretty poor however, even I would not miss a dollar. Who knows, I might even be able to contribute more for the right cause. The majority of people have balloon mortgages among other problems. If there were a group of people that got together and contributed money to a single account let's say a hundred dollars for now. If there enough people, we could pay off a house a week or maybe month. Let's say we have a thousand contributors. 100 dollars a month from each would be 100000. My wife and I only owe 80k on ours. There are a lot of others out there that owe less than that and obviously people that owe a lot more. If after your house is paid off we up the amount per month to 200 dollars, we could pay off larger places quicker. Within a few years, we could have everyone paid off and the banks have no authority. If it worked out, we could expand the group maybe even to the whole country. Instead of the banks having all of us by the balls in ten years, we could have the banks by the balls. If this became a large enough group, we could even buy someone we choose into government. Just a thought. I would like to get opinions on this, so take it and run with it. I have work in a few hours, so I will be on to see what everyone said in a couple hours.
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01-11-2012, 06:25 PM
RE: Can we legally cut the banks out of things?
I'll let you know why this is a stupid idea after my exam.

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01-11-2012, 06:33 PM
RE: Can we legally cut the banks out of things?
(01-11-2012 06:25 PM)earmuffs Wrote:  I'll let you know why this is a stupid idea after my exam.

Tread carefully for you tread on his dreams!

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01-11-2012, 06:40 PM
RE: Can we legally cut the banks out of things?
(01-11-2012 06:33 PM)DLJ Wrote:  
(01-11-2012 06:25 PM)earmuffs Wrote:  I'll let you know why this is a stupid idea after my exam.

Tread carefully for you tread on his dreams!

meh.

Crushing peoples dream with the hard cold truth of reality is a specialty of mine.

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01-11-2012, 08:42 PM
RE: Can we legally cut the banks out of things?
(01-11-2012 06:40 PM)earmuffs Wrote:  
(01-11-2012 06:33 PM)DLJ Wrote:  Tread carefully for you tread on his dreams!
meh.
Crushing peoples dream with the hard cold truth of reality is a specialty of mine.

May I introduce you to a friend of mine?
Earmuffs meet Constructive Criticism...
Constructive Criticism meet Earmuffs.

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01-11-2012, 09:26 PM
RE: Can we legally cut the banks out of things?
(01-11-2012 08:42 PM)DLJ Wrote:  
(01-11-2012 06:40 PM)earmuffs Wrote:  meh.
Crushing peoples dream with the hard cold truth of reality is a specialty of mine.

May I introduce you to a friend of mine?
Earmuffs meet Constructive Criticism...
Constructive Criticism meet Earmuffs.

Your friend sounds like a fucktard.

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01-11-2012, 09:29 PM
RE: Can we legally cut the banks out of things?
Fuckin earmuffs.

So many cats, so few good recipes.
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01-11-2012, 09:47 PM
RE: Can we legally cut the banks out of things?
You can legally do anything, all you have to do is change the laws. Legality is a man-made construct. You can legally kill tens of millions of people for being Jewish, laws are not a reflection of what is right, or what should be done, they are a reflection of what people with power want to be done.

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01-11-2012, 10:28 PM
RE: Can we legally cut the banks out of things?
I was mainly asking if there was a way to do this. I guess nobody recognizes genius when they see it. Drinking Beverage
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01-11-2012, 10:44 PM (This post was last modified: 01-11-2012 11:07 PM by kingschosen.)
RE: Can we legally cut the banks out of things?
Why this is a bad idea:

Let's just say the average owed amount is 150K.

1000 people paying $100 a month.

1.5 months to pay off the average debt for one person.
1500 months to pay off all the debt.
That's 125 years.
~30% of the investors would have their houses paid off in 30 years.
Less than 50% in 50 years.
About 35-40% wouldn't see their debt paid off in their lifetime.
And, this is under the assumption that everyone will continue to pay $100 a month for 125 years... which is, of course, ludicrous.

Who decides who gets the money first?
What's to make people keep paying once they are paid off? With no legal bindings, who's to make them pay once they're out of debt?
If you do make a legal binding contract, you are no better than the banks - just poorer and in 125 years of debt.
There is nothing fair or logical about this system.

This system only benefits ~10% of the people involved.

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