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Predatory lending
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    Posted: 25 March 2013 at 3:38pm
Originally posted by schmikbob schmikbob wrote:

I was wondering what the Islamic position was on loans.  I thought the Quran prohibited usury but not the legal charging of interest.


The interest mentioned in the Qur'an is the INSANE type of lending method, the unregulated. You only can understand this once you see it in action. In some case it is 100% interest. Today the so called Islamic Bank does not charge interest but fees and/or shared profit. The lenders are businesses that making money with their money, just like everybody else.
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Points: 937 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Matt Browne Quote  Post ReplyReply Direct Link To This Post Posted: 12 May 2011 at 5:16am
Predatory lending is unethical in most world views.

We should expose the guilty.
A religion that's intolerant of other religions can't be the world's best religion --Abdel Samad
Great minds discuss ideas. Average minds discuss events. Small minds discuss people--Eleanor Roosevelt
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Points: 336 		Post Options Post Options   Thanks (0) Thanks(0)   Quote IssaEl999 Quote  Post ReplyReply Direct Link To This Post Posted: 23 April 2011 at 4:00pm
How%20a%20foreclosure%20freeze%20could%20heat%20up%20our%20economy
 

How a foreclosure freeze could heat up our economy

By Dr. Wilmer J. Leon III

 

OPINION - In an economy that is still in recession, a rebounding housing market would go a long way towards providing much needed economic stimulus and stability...

> read more
El's Holy Qur'aan , States In Chapter 17 ; 81 , '' And Say ; Truth Has ( Now ) Arrived , And Falsehood Perished ; For Falsehood Is ( By Its Nature ) Bound To Perish (81 ) .
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Points: 469 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Douggg Quote  Post ReplyReply Direct Link To This Post Posted: 22 April 2011 at 9:30pm
Originally posted by Sign*Reader Sign*Reader wrote:

What else is new?
There is no more free lunches, you want desserts too...Tongue
What is so special about the moochers who want free houses?
They are the ones who main agents of the current mess who helped the banksters; it takes two to tangoWink

It is a complicated issue.   The banks made loans they shouldn't have made.  Many people were buying homes with the idea that they would profit big time in a few years, by flipping in a resale, and moving up.   The banks created phoney mortage backed securities CDO's.     Real estate became a speculative game that collapsed in on itself.
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Points: 526 		Post Options Post Options   Thanks (0) Thanks(0)   Quote schmikbob Quote  Post ReplyReply Direct Link To This Post Posted: 21 April 2011 at 9:19pm
Brilliant idea, a foreclosure moretorium.  All those people that are owed the house they are in won't have to make payments at all now.  Someone tell me why a bank would wish to participate in this market given the idiocy that passes for legislation in Washington these days.
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What else is new?
There is no more free lunches, you want desserts too...Tongue
What is so special about the moochers who want free houses?
They are the ones who main agents of the current mess who helped the banksters; it takes two to tangoWink


Edited by Sign*Reader - 22 April 2011 at 12:56am
Kismet Domino: Faith/Courage/Liberty/Abundance/Selfishness/Immorality/Apathy/Bondage or extinction.
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Points: 336 		Post Options Post Options   Thanks (0) Thanks(0)   Quote IssaEl999 Quote  Post ReplyReply Direct Link To This Post Posted: 21 April 2011 at 9:48am
  • Rep.%20Barbara%20Lee:%20Put%20the%20brakes%20on%20home%20foreclosures

    Rep. Barbara Lee: Put the brakes on home foreclosures

    By Rep. Barbara Lee

    8:54 AM on 10/19/2010

    OPINION - It's time for a national foreclosure moratorium -- It's the right thing to do...

    > read more
    • El's Holy Qur'aan , States In Chapter 17 ; 81 , '' And Say ; Truth Has ( Now ) Arrived , And Falsehood Perished ; For Falsehood Is ( By Its Nature ) Bound To Perish (81 ) .
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    Sign*Reader View Drop Down
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    Points: 3352     		Post Options Post Options   Thanks (0) Thanks(0)   Quote Sign*Reader Quote  Post ReplyReply Direct Link To This Post Posted: 19 April 2011 at 11:47pm
    The usury is an obsolete term for interest! They call it interest and than it becomes usurous in some state laws when people don't pay on time!
     The test of a true Islamic state would be the absence of interest; promotion of education, business enterprise and employment of the all able bodied...

    There are dire warnings about the interest based societies who borrow and spend to their destruction and misery!






    Edited by Sign*Reader - 19 April 2011 at 11:53pm
    Kismet Domino: Faith/Courage/Liberty/Abundance/Selfishness/Immorality/Apathy/Bondage or extinction.
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