It's irresponsible for banks to loan money, they pay many people salaries for risk assessment before loaning it. Also their loan is insured so even if you don't pay it back they write the loss off.

[–] neonred@lemmy.world 0 points 10 months ago

Indeed. But they want to make money, so they rise the interest rate to make even more money and cut losses on failed debt repayments.

They solely exist to make money by extorting the people in debt. Who would have guessed?

So? Never have debts.

"Consumer" debts should ethically not exist as consumers just consume the money and are therefore not able to pay it back as it is not an "investment" debt, which has the chance to succeed.