ANCYL slates SA's banks

[Kosmik]

And that's the fault of the banks ? Sounds more like a lack of education ! Mainly by the parents, and the schools - I thought that LO was compulsory !

Must be Apartheid's fault !

Actually to most of us it was common sense, LO is for the OBE generation

 

[Jola]

Actually to most of us it was common sense, LO is for the OBE generation

Think that I must go and teach LO - I can guarantee you, the only debts that my pupils will ever have will be a house mortgage !

 

[czc]

White people that borrow from the bank also have to pay it back so whats the trouble?

You can't pay don't buy.

 

[Jola]

You can't pay don't buy.

You have it ! Applies especially to cars !

 

[daveza]

I'm seriously beginning to think the entire ancyl are on hourly doses of crack.

Do they have any vague idea about economics ?

 

[Alan]

And that's the fault of the banks ? Sounds more like a lack of education ! Mainly by the parents, and the schools - I thought that LO was compulsory !

Must be Apartheid's fault !

To a degree yes. This is a nation with a borderline retard average IQ after all.

 

[FlatspinZA]

The all-consuming materialism of the shallow bunch.

In his book, Moeletsi Mbeki mentions this as a kind of ironic burden - that the new political elite end up imitating the lifestyle of the "colonisers/former enemies" they so despised.

White people that borrow from the bank also have to pay it back so whats the trouble?

You can't pay don't buy.

Welcome to the world of "white privilege" Floyd. You guys seem to think that whitey just had a house and a car given to him in the past - whitey was also in debt to the hilt, it just wasn't so obvious.

I'm seriously beginning to think the entire ancyl are on hourly doses of crack.

Do they have any vague idea about economics ?

Crack? More like Mandrax.

 

[Jola]

Welcome to the world of "white privilege" Floyd. You guys seem to think that whitey just had a house and a car given to him in the past - whitey was also in debt to the hilt, it just wasn't so obvious..

Partly because whitey drove a Mazda or a Datsun, not a Black X5.

 

[davemc]

I love the idea of a government run bank, prioritised to invest in things that would beneficiate and industrialise SA's resources, whilst financing import substitution.

Perhaps that way we can get rid of the useless organisations already in place that are being paid to do exactly that.

Good idea ANCYL!

Now, what are the people currently employed by the Small Business Development Corporation / Industrial Development Corporation / Provincial branches of the National Development Corporation Umbrella / [the list goes on ...] going to do for their money-for-nothing?

 

[zulgin]

The all-consuming materialism of the shallow bunch.

In his book, Moeletsi Mbeki mentions this as a kind of ironic burden - that the new political elite end up imitating the lifestyle of the "colonisers/former enemies" they so despised.

A bit OT: What is the name of that book? I have always enjoyed Moeletsi's critics especially that of his brother.

 

[Ronjay]

I see. So if you are a black man and want to buy a car, and you don't have money, all you do is go to the bank and borrow the money. So far I'm not seeing any hidden discriminatory issues. We whites do the exact same thing. How do these morons think that borrowing money from a bank is an issue that is unfair to black people? If it's unfair for black people, surely then it is unfair to everyone else as well?

Nobody is making black people go into banks and ask for loans to buy fancy cars and massive houses. If the government had educated the people properly in the first place about economics, then there wouldn't be so many problems. It's simple, if you spend more money then you earn then you are going to owe money out. How does you acting like a moron and spending money that is not yours make it anyone's fault but your own?

I've gotten a headache just reading the crap. I mean, these are supposed to be future leaders of the country. All I can say is if any of the current ANCYL morons get any real power, i.e Presidency, then I'm getting out of here.

 

[D.B.Cooper]

ANCYL filled with dumb****s: News at 11! Seriously, by this point they must have negative credibility. Showing their complete lack of wits every time one of their "leaders" opens their traps, making extravagant promises to the needy (and leaving it up to others to fulfil those promises), having a leader that's an out-and-out crooked scumbag... the list goes on and on. Why they are still quoted in the media I'll never understand.

And no, they are not the future leaders of this country. I refuse to believe that the masses are really that stupid. At least, I hope not. Heaven help us, otherwise!

Edit: Whoops, how did my post end up here? Should have appeared on that Dusi Canoe Marathon deal. Eh, the sentiment is applicable here as well

 

[Ronjay]

ANCYL filled with dumb****s: News at 11! Seriously, by this point they must have negative credibility. Showing their complete lack of wits every time one of their "leaders" opens their traps, making extravagant promises to the needy (and leaving it up to others to fulfil those promises), having a leader that's an out-and-out crooked scumbag... the list goes on and on. Why they are still quoted in the media I'll never understand.

And no, they are not the future leaders of this country. I refuse to believe that the masses are really that stupid. At least, I hope not. Heaven help us, otherwise!

Edit: Whoops, how did my post end up here? Should have appeared on that Dusi Canoe Marathon deal. Eh, the sentiment is applicable here as well

That's just the problem, it seems the masses are really that stupid.

 

[zulgin]

This only tells me that the ANC youth has never worked for anything that the currently owe, Lets be honest now, how many people black or white can simply buy a luxury car or house out of pure cash? We all had to have study loans or whatever financial schemes somewhere along our life to get the assets we currently owe. Its not even economics, its simply logic.

 

[daveza]

How do these morons think that borrowing money from a bank is an issue that is unfair to black people

Perhaps they are whining about the banks not willing to loan money to blacks for flashy cars - but they wouldn't loan me enough for a small bicycle so they must be being racist to blacks and whites.

 

[WilD_CaT]

Ahahahaha. Very funny ANCYL, very funny indeed. Had me going there for a moment. Might as well douse my savings with petrol and set it alight. Same end result either way.



Uh huh. One little problem with that. There is no way in hell we could ever compete with China. COSATU saw to that pretty effectively. Have a word with them if you want SA to be more competitive on the global market.

+1.

 

[Ronjay]

Perhaps they are whining about the banks not willing to loan money to blacks for flashy cars - but they wouldn't loan me enough for a small bicycle so they must be being racist to blacks and whites.

Actually, that's pretty accurate. If I wanted to borrow money as things stand with my finances right now, I'd be the biggest joke between bank managers at their golf day, ever. But some one of a darker skin complexion with an education that Malema would be ashamed of and absolutely no collateral what so ever, all of a sudden is loaning enough money to buy a Benz and a mansion. How does that work?

 

[WilD_CaT]

I think what they are saying is that they want a bank in their pocket (Even the Reserve Bank is privately owned, Zuma can appoint the governor I think). If the state "owns" a bank it can tell the bank to lend money to the state, I.E it allows the goverment to print money directly instead of via the reserve bank.

The reserve bank still has to agree to make loans to the state, and it has its own mandate of curbing inflation etc. to worry about, which is why despite my hatred of central banks, an independent central bank is preferable to a state-owned central bank.

They just want to run the printing press a.k.a Bob Style!

 

[daveza]

They just want to run the printing press a.k.a Bob Style!

And we all know how successful that was.

 

[The_Unbeliever]

I think this fits in with the overall theme of this thread :

This Is Why We’re In A Recession, Part 5
Bank | Ottawa, ON, Canada

Me: “Hi! How can I help you today?”

Customer: “I deposited a cheque in your ATM and wanted cash back, but it won’t let me. I need that money!”

Me: “Alright, let me just pull up your file.”

(I find her in the system and see the deposit’s held as she’s overdue on her credit card payments by several months, which caused her accounts to freeze.)

Me: “Your deposit was definitely completed and is in your account, but unfortunately I cannot give you any cash as your accounts are frozen.”

Customer:”What! No! They can’t do that! That’s my money!”

Me: “Well yes, they can, because you haven’t made a single credit card payment in months.”

Customer: “So?”

Me: “So, you need to pay it back.”

Customer: “I have to pay? Why?”

Me: *blinks* “You didn’t know you had to pay it back?”

Customer: “No one told me!”

Me: “Miss, it’s a credit product, meaning you’re borrowing money from us. We don’t give money away. After you borrow the money, you’re expected to pay it back. All of it’s explained in your Card Agreement.”

Customer: *stares blankly at me*

Me: “The agreement you would’ve received in the mail along with your card.”

Customer: “That sheet full of ‘garbledygook’ that no one ever reads?”

Me: “Just because you didn’t read it doesn’t mean you’re exempt. By using the card, that means you agree to the terms associated with the card.”

Customer: “But I need my money! They can’t do that, it’s my money! I got no job, I have no money!”

Me: “Don’t worry, I’ll call them and speak with someone for you. We’ll figure out a solution together based on your current situation, okay?”

(I call them and discuss with the rep, then they ask to speak to the customer. I hand the phone over, and within seconds she starts yelling.)

Customer: “GIVE ME MY MONEY! You can’t do this! No one told me I have to pay!”

(She slams down the phone, storms off while shouting “They won’t give me my money!” to random people on the way out.)