Unsubstantiated Derisive Adjectives
January 19th, 2008
Look out for those.
n+1: “You know what, sub-prime is a really good thing, it’s opening up home ownership to people who couldn’t get it before for reasons that didn’t really have to do with their ability to pay, but had to do with outmoded criteria for thinking about credit.”
They say hindsight is always 20/20. But I do think a lot of people knew something was up with this particular situation. What sets off your bullshit detector in the quote? For me, it was the word outmoded.
January 19th, 2008 at 9:02 pm
Well said. You pinpointed the precise point at which that sentence started to sound problematic.
January 19th, 2008 at 9:02 pm
For bonus points, try this with politics.
January 19th, 2008 at 10:54 pm
Sorry, but the bullshit detector should have been already set off by “for reasons that didn’t really have to do with their ability to pay”. There is someone who hasn’t the ability to pay (no, it’s not about upfront, it’s about being able to pay the loan) over a long time. So, here’s the cause. The “outmoded” just indicated that there are enough people who want to game the “outmoded” system on the back of people who cannot pay the loans under ordinary conditions.
January 19th, 2008 at 11:01 pm
Hmm, I think I disagree with Anonymous #3. A conservative way to put “for reasons that didn’t really have to do with their ability to pay” would be “underbanked”.