Should Banks Give People Loans?

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One of the main causes of the financial crisis happening was the fact that banks lent people too much money. However, there are both negative and positive aspects to this. One positive aspect is that people can start and develop businesses with the help of a bank. Also by lending money the banks can help homeless people get a house and the necesseties that they require. The negative aspects of banks giving out loans are that people might want the money for unnecessary things such as a designer watch. Another reason is because banks would be losing money because not all people pay the interest fees that they should. In my opinion, I think that, despite the fact that loans help people, loans should be given out less because not everyone can be trusted to pay interest fees back to the banks.

Comments (9)

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  • Hi humorous_solution, I loved your post. Like you, I think that banks/bankers should loan people money but after checking their credit rating. This would give them some idea of how reliable this person was, how trustworthy, and if they can probably pay the money back or not. Personally, if I were a banker, I wouldn't give money to a homeless person as if they are homeless, they aren't going to be the most wealthy, or the most likely to pay back money. Also, I don't mean anything by saying this but most homeless people are homeless for a reason. This then means it IS possible for that person to be into drugs or alcohol, making that person the VERY OPPOSITE of what bankers are looking for. I think that this is a reason I wouldn't give money to a homeless person, although it would be BRILLIANT if they found a home. I think, if I were a banker I would think as a Very serious business man and NOT do what is best for actually that person like I normally would, instead I would do what is best for my business or bank. You may think I'm mean but eventually, it will pay off.

  • i disagree with what you are saying due to the fact that when banks give out money people just abuse it and then they buy stuff which they do not necessarily need people who do not abuse money and actually need it use it when needed
    the worst thing about banks giving us money is that us people have to pay more interest back and if people were poor they could not do it
    in a way i do agree just not alot