Nasty articles on Wraps in "The Age"

[Peter_Tersteeg]

There's a few articles in todays Age newspaper bagging wraps. The articles are very one sided and don't show how wraps can benifit some people.

http://www.theage.com.au/articles/2003/10/28/1067233172671.html

http://www.theage.com.au/articles/2003/10/28/1067233173214.html

http://www.theage.com.au/articles/2003/10/28/1067233173220.html

What these articles don't address is that the techniques used in wraps are exactly the same techniques that banks use when selling loans, and that the wrapee had plenty of opertunity to get their own indepentant legal advise and do their own due diligence.

Whilst I think that there are wrappers out there with more generous terms than those described in these articles, I don't think that the wrapper actaully did anything wrong.

 

[duncan_m]

Originally posted by PT_Bear


What these articles don't address is that the techniques used in wraps are exactly the same techniques that banks use when selling loans,

Well not quite.. when the banks lend money:

1. The ownership changes hand.

2. The banks are regulated.

3. The rates are within a few percentage points of the prevaling cash rate..

4. If the bank goes broke there' no chance you'll be evicted from the home.

5. You buy your home at the current market rate, not an inflated one.

Save me the bleeding heart, aussie battler comebacks thanks..

 

[Aceyducey]

Originally posted by PT_Bear
There's a few articles in todays Age newspaper bagging wraps. The articles are very one sided and don't show how wraps can benifit some people.

Well, when the media bags the banks it gets sued, but when they bag wrappers, the wrappers can't afford to sue

I think, as always, you need to look further than the press when assessing investment strategies.

Cheers,

Aceyducey