I don't think the Bailey Building and Loan would work today. Potter would own it all.
Edited on Mon Dec-11-06 03:25 PM by Sapere aude
Imagine people making enough money to save part of it in an account with the Building and Loan and the the institution would make an interest only loan to someone else to buy a house with. Who has money to save now a days?
Today Potter would make you an interest only loan and the rate would go up until you couldn't make the payments and he would take the house back and resell it at a profit.
Check out www.prosper.com if you get a free moment.
Folks pool their resources to make loans to other folks -- the borrowers pay less interest than they would to a bank, and the lenders make more interest than they would get from a bank or even an average mutual fund.
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