Robert Kiyosaki is convinced that the guilty party in the world financial crisis stemming from the subprime mortgage market failure in the U.S. is the problematic buyers, and not the banks who provided the bad loans.
According to Kiyosaki, the borrowers are the ones who made the mistake when they thought that they could manage they own finances - and they are guilty.
It is a question of education, of people who took loans and did not know how to manage their assets, who did not understand that they could not pay off the loans, he told TheMarker.
It is like letting a drunk drive a car. It is clear that at some point the driver will have an accident, added Kiyosaki.
When Kiyosaki speaks about these problematic borrowers, there is a clear tone of contempt in his voice without a trace of pity. It seems that he views their plight from the viewpoint of an investor, and not from the human side. "In any case they will lose their houses," he said without a hint of sympathy.
"He is sure that his real estate investment advice will work in Israel too - even though one Israeli investor, Eli, who spoke to Kiyosaki told him of his failure in buting real estate. Kiyosaki accused him of being a lousy investor, and told him to go learn first.
When Eli insisted on getting advice on an alternative investment, Kiyosaki asked Eli if he had read his second book, and when he said no - he told him to read it and learn more before investing.
Kiyosaki said that he has never lost money on his real estate, investments and that he only lost money when he had the wrong partners or poor management. He said he now owns 1,500 apartments - which he has a professional manager run.
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