Author Topic: It's pretty scary that Bernie can't distinguish between secured/unsecured loans  (Read 1568 times)

0 Members and 1 Guest are viewing this topic.

Offline Patriot Guard Rider

  • Hero Member
  • *****
  • Posts: 2651
  • Reputation: +650/-18
  • Yes, really. Liberals DO disgust me.
http://www.democraticunderground.com/1251953218

Quote
Bernie's recent tweet:

You have families out there paying 6, 8, 10 percent on student debt but you can refinance your homes at 3 percent. What sense is that?


This is a profoundly uninformed statement and it's pretty scary when you realize it's coming from a presidential candidate.

The reason why homeowners can refinance at lower interest rates is because the loans are secured by collateral (the home). This means less risk to the lender and they will therefore charge lower interest rates.

Student loans, on the other hand, are unsecured loans which means they aren't backed by collateral. Lenders cannot recover assets in case of default. This means more risk to the lender and they will therefore charge higher interest rates for unsecured loans.

Bernie really needs to educate himself.

Quote
SoLeftIAmRight (1,540 posts)
1. WOW -government secured - no out for bankruptcy - some kettle talking to the pot

???

Quote
Star Member Nitram (2,427 posts)
15. A meme? That's what you are calling straightforward FACTS these days?

Dude, your spin is making me dizzy.

Quote
randys1 (14,043 posts)
3. You really think he doesn't know the difference? Or do you think he is trying to make a point.

Like payday loan companies, education debt is outrageous and we simply should no longer tolerate it being done to us.

How have we become so fractured that good Democrats and liberals like yourself are taking these kind of shots at Bernie, someone we all desperately NEED if we want to win this election ESPECIALLY if he is NOT the nominee.

Do NOT believe what he said, believe what I said he said. Look randys1, education debt is high, but if you major in womens studies, playground design or in african-american architecture with an emphasis on transgendered subterranean buildings, chances are you will not earn enough to move out of your moms basement and won't be able to pay the loan back.

Quote
1StrongBlackMan (25,850 posts)
30. I'm pretty sure he is attempting to make a point (and knows the difference) ...

he's just using facially simplistic language to make that point.

Then again, maybe he's a idiot and really doesn't. Again, don't believe what he said, believe what I said he said.

Quote
Star Member aikoaiko (23,105 posts)
9. Another failed attempt to slam Bernie. Let me introduce you to Guaranteed Student Loans


Did you ever wonder why Student Loans are sometimes called Guaranteed Student Loans? Talk about secured loans.

It's pretty scary the HRC supporters don't even understand student loans.

You might want to do some reading: http://www.collegescholarships.org/loans/guaranteed.htm

Quote
MohRokTah (11,344 posts)
16. It's even scarier when you stop to think his entire reason for running is the economy.

Based upon his understanding of global finance, I wouldn't give the world 9 months of his proposals being enacted before complete global economic collapse

Fortunately, Democrats in Congress aren't stupid enough to attempt to enact his pie in the sky proposals.

Here is a hint DUmmie. He will NOT be nominated. She who will be coronated will make sure of that. That and something called "superdelegates". The crash, and bern at DU, will be epic.
« Last Edit: December 28, 2015, 02:31:27 PM by Patriot Guard Rider »
Liberals disgust me. (Now I don't have to remember to put it on each post).

Because only the left goes searching for that which is not there in a desperate attempt to be offended about something.

"If ye love wealth better than liberty, the tranquility of servitude better than the animating contest of freedom, go home from us in peace. We ask not your counsels or your arms. Crouch down and lick the hands which feed you. May your chains set lightly upon you, and may posterity forget that you were our countrymen." - Samuel Adams

Many people do not see evil until the gas is flowing into the chamber. That is why they get on the trains in the first place.

Offline obumazombie

  • Siege engine to lib fortresses
  • Hero Member
  • *****
  • Posts: 21814
  • Reputation: +1661/-578
  • Last of the great minorities
http://conservativecave.com/index.php?topic=105854.0


Add Bernie's gaffe to the long list of lib gaffes that never get any coverage by the establishment media.
There were only two options for gender. At last count there are at least 12, according to libs. By that standard, I'm a male lesbian.

Offline SVPete

  • Hero Member
  • *****
  • Posts: 29445
  • Reputation: +3257/-248
Quote
randys1 (14,043 posts)
3. You really think he doesn't know the difference? Or do you think he is trying to make a point.

Like payday loan companies, education debt is outrageous and we simply should no longer tolerate it being done to us.

I can give you all a very simple solution, rr1. Don't ask for or take the student loan or payday loan money. Voila'! No student loan debt, and no payday loan debt.

Different interest rates are rather simple, really. If you borrow and use a bank's money, they charge you a fee for using it. The fee is called interest. The particular rate depends on whether the loan is secured or not, and the reliability of the borrower (as demonstrated through credit history). Student loans are unsecured, and made to members of a population know (as a population) to have higher late payment and default rates than the population of borrowers to whom banks are willing to lend for mortgages.

Whether Bern Out is ignorant or dishonest, neither are acceptable in a POTUS.
If The Vaccine is deadly as anti-Covid-vaxxers claim, millions now living would have died.

Online SSG Snuggle Bunny

  • Global Moderator
  • Hero Member
  • *****
  • Posts: 23569
  • Reputation: +2487/-270
  • Voted Rookie-of-the-Year, 3 years running
I say we allow the Proglodytes to use the government to secure their loans.

Then, if they default, we foreclose on their portion of the government.

They can't vote, hold elected office, draw a government salary or welfare or any other benefits.

You lurking assholes ready to make a deal?
According to the Bible, "know" means "yes."

Offline I_B_Perky

  • Hero Member
  • *****
  • Posts: 7532
  • Reputation: +721/-329
I say we allow the Proglodytes to use the government to secure their loans.

Then, if they default, we foreclose on their portion of the government.

They can't vote, hold elected office, draw a government salary or welfare or any other benefits.

You lurking assholes ready to make a deal?

Heh. The dummies are all for government secured loans.  Wait until they find out their tax refund gets confiscated, or their disability check and the debt lasts until either the loan is paid off or the USA collapses.

Personally I am all for it.  The government is gonna get their money and that is a lesson the dummies need to learn.  Only down side is some fool like obumbles gets elected and forgives the debt to get votes.
Living in the Dummies minds rent free since 2009!

Montani Semper Liberi

Offline FiddyBeowulf

  • "Its on, its off, its on, its off." "That is called blinking, boys."
  • Hero Member
  • *****
  • Posts: 5271
  • Reputation: +523/-34
Heh. The dummies are all for government secured loans.  Wait until they find out their tax refund gets confiscated, or their disability check and the debt lasts until either the loan is paid off or the USA collapses.

Personally I am all for it.  The government is gonna get their money and that is a lesson the dummies need to learn.  Only down side is some fool like obumbles gets elected and forgives the debt to get votes.
Maybe take away their ability to vote during national elections as well until the debt is paid.
Fire...BAD!!! - John Fetterman


The policies that are indorsed by this party, that they backer of which are much of the 1 percent, causes a social structure much like the one back before the Revolution.

-Words of wisdom from Lady Freedom Returns

"Arguing with liberals...it's like playing chess with a pigeon; no matter how good I am at chess, the pigeon is just going to knock over the pieces, crap on the board and strut around like it's victorious." -- Anonymous

"A hat should be taken off when you greet a lady and left off for the rest of your life. Nothing looks more stupid than a hat." - P. J. O'Rourke

Offline I_B_Perky

  • Hero Member
  • *****
  • Posts: 7532
  • Reputation: +721/-329
Maybe take away their ability to vote during national elections as well until the debt is paid.

Now that is an idea!!!!   I like the way you think.   :cheersmate:
Living in the Dummies minds rent free since 2009!

Montani Semper Liberi

Offline Duke Nukum

  • Assistant Chair of the Committee on Neighborhood Services
  • Hero Member
  • *****
  • Posts: 8015
  • Reputation: +561/-202
  • O frabjous day! Callooh! Callay!'
I think Bernie is an idiot and truly doesn't understand the difference between a secured loan and a tax-payer guaranteed loan but, assuming he isn't an idiot, then he is a master mind because he knows DUmmies don't understand the difference.
“A man who has been through bitter experiences and travelled far enjoys even his sufferings after a time”
― Homer, The Odyssey

Offline obumazombie

  • Siege engine to lib fortresses
  • Hero Member
  • *****
  • Posts: 21814
  • Reputation: +1661/-578
  • Last of the great minorities
I think Bernie is an idiot and truly doesn't understand the difference between a secured loan and a tax-payer guaranteed loan but, assuming he isn't an idiot, then he is a master mind because he knows DUmmies don't understand the difference.
Maybe both.
Like an Idiot Savant.
There were only two options for gender. At last count there are at least 12, according to libs. By that standard, I'm a male lesbian.

Offline Chris_

  • Little Lebowski Urban Achiever
  • Hero Member
  • *****
  • Posts: 46845
  • Reputation: +2028/-266
I saw my first Bernie sticker in the wild today.

Bitch was all over the road.
If you want to worship an orange pile of garbage with a reckless disregard for everything, get on down to Arbys & try our loaded curly fries.