That 47 million includes 11 million illegals.
Forget the auto execs...there's one thing about this whole mess that is beginning to absolutely fry me. A news story was on about a woman whose Bank of America credit card's interest rate was increased from 7% to 24% when another bank, who was in difficulty, reduced her credit limit. This reduction reduced her credit score and that's when our buddies at B of A, who advertised to give credit cards to those without social security numbers (i.e., illegals) credit cards. Now, is BofA among those receiving taxpayer largesse from this bailout?
Taxpayer money used to keep BofA afloat while they stick it to...wait for it...those same taxpayers. I'm sure our buddies in the congress won't be affected by any of this, though. And what's even more infuriating is the Fed has reduced the interest rate to right at zero. ZERO!!!
This daily adds to the list of people who need to be attached to trees by rope.
Taxpayer money used to keep BofA afloat while they stick it to...wait for it...those same taxpayers. I'm sure our buddies in the congress won't be affected by any of this, though. And what's even more infuriating is the Fed has reduced the interest rate to right at zero. ZERO!!!
This daily adds to the list of people who need to be attached to trees by rope.
All the more reason why you should never own a credit card.
Banks are going to find every way they can to get extra cash out of you after the bail out. New hidden charges, fees, penalties, and fine print are going to raise your credit card bills.
The best thing you can do is shred all of your credit cards, pay them off smallest to largest, and use cash or debit cards for your purchases. It's like giving the finger to the banks and increases your spending and saving power by having less bills to pay every month.
Banks are going to find every way they can to get extra cash out of you after the bail out. New hidden charges, fees, penalties, and fine print are going to raise your credit card bills.
The best thing you can do is shred all of your credit cards, pay them off smallest to largest, and use cash or debit cards for your purchases. It's like giving the finger to the banks and increases your spending and saving power by having less bills to pay every month.
quote:Originally posted by NashBama:
All the more reason why you should never own a credit card.
Banks are going to find every way they can to get extra cash out of you after the bail out. New hidden charges, fees, penalties, and fine print are going to raise your credit card bills.
The best thing you can do is shred all of your credit cards, pay them off smallest to largest, and use cash or debit cards for your purchases. It's like giving the finger to the banks and increases your spending and saving power by having less bills to pay every month.
Absolutely. This economy is a good time to become debt-free where ever possible.
Zip....
Forget the auto execs...there's one thing about this whole mess that is beginning to absolutely fry me. A news story was on about a woman whose Bank of America credit card's interest rate was increased from 7% to 24% when another bank, who was in difficulty, reduced her credit limit. This reduction reduced her credit score and that's when our buddies at B of A, who advertised to give credit cards to those without social security numbers (i.e., illegals) credit cards. Now, is BofA among those receiving taxpayer largesse from this bailout?
Taxpayer money used to keep BofA afloat while they stick it to...wait for it...those same taxpayers. I'm sure our buddies in the congress won't be affected by any of this, though. And what's even more infuriating is the Fed has reduced the interest rate to right at zero. ZERO!!!
This daily adds to the list of people who need to be attached to trees by rope.
_________________________________________________________________________________________
Banks handed out Credit Cards like candy because they profit from our debt. They handed them out almost without regard of a person's ability to afford it. It was reckless and careless lending yet we are bailing them out. And they wanted it all ways because they changed the bankruptcies laws so most people have to work out a payment plan. We have "Debt Slavery," something the Founding Fathers opposed.
Buying things on credit can be helpul but over 70% of our economy was built on consumerism, which was fueld by credit. People turned to using credit because wages did not keep in line with costs.
It's only the beginning and only one way Corporations control our lives. Welcome to Corporate Globalizastion, sweatshop Labor and Debt Slavery.
We will be back in "16 tons and what do you get, another day older and deeper in debt...." ERA, The Robber Barons are Back.
Forget the auto execs...there's one thing about this whole mess that is beginning to absolutely fry me. A news story was on about a woman whose Bank of America credit card's interest rate was increased from 7% to 24% when another bank, who was in difficulty, reduced her credit limit. This reduction reduced her credit score and that's when our buddies at B of A, who advertised to give credit cards to those without social security numbers (i.e., illegals) credit cards. Now, is BofA among those receiving taxpayer largesse from this bailout?
Taxpayer money used to keep BofA afloat while they stick it to...wait for it...those same taxpayers. I'm sure our buddies in the congress won't be affected by any of this, though. And what's even more infuriating is the Fed has reduced the interest rate to right at zero. ZERO!!!
This daily adds to the list of people who need to be attached to trees by rope.
_________________________________________________________________________________________
Banks handed out Credit Cards like candy because they profit from our debt. They handed them out almost without regard of a person's ability to afford it. It was reckless and careless lending yet we are bailing them out. And they wanted it all ways because they changed the bankruptcies laws so most people have to work out a payment plan. We have "Debt Slavery," something the Founding Fathers opposed.
Buying things on credit can be helpul but over 70% of our economy was built on consumerism, which was fueld by credit. People turned to using credit because wages did not keep in line with costs.
It's only the beginning and only one way Corporations control our lives. Welcome to Corporate Globalizastion, sweatshop Labor and Debt Slavery.
We will be back in "16 tons and what do you get, another day older and deeper in debt...." ERA, The Robber Barons are Back.
quote:Banks handed out Credit Cards like candy because they profit from our debt. They handed them out almost without regard of a person's ability to afford it. It was reckless and careless lending yet we are bailing them out. And they wanted it all ways because they changed the bankruptcies laws so most people have to work out a payment plan. We have "Debt Slavery," something the Founding Fathers opposed.
Buying things on credit can be helpul but over 70% of our economy was built on consumerism, which was fueld by credit. People turned to using credit because wages did not keep in line with costs.
It's only the beginning and only one way Corporations control our lives. Welcome to Corporate Globalizastion, sweatshop Labor and Debt Slavery.
We will be back in "16 tons and what do you get, another day older and deeper in debt...." ERA, The Robber Barons are Back.
So now you're saying the banks did loan to unqualified people. You can't make up your mind, which is it?
Buying things on credit cards are never, every helpful in any way. They are completely unnecessary. They are appealing because you can buy things you can't afford immediately instead of saving up and paying cash later.
The cost for having something now instead of later is piles of bills every month reducing your cash flow. The less cash you have, the hard it is to save for things, so you use your credit card more and get deeper in debt. It's a cycle that just gets worse as long as you have that stupid card in your possession.
People make a choice to go into debt, no one forces them. Wages do keep up with costs, but when half of your income goes out to credit card bills, it's not the income that's the problem, it's the person's spending habits.
I've never used a credit card in my life, even when I was in college, living on my own, and supporting myself on $9,000 a year. What kept food in the fridge and a roof over my head was the lack of a credit card bill draining my funds.
If you have a credit card, call right now and cancel it, then chop it up and never use one again. You'll be much better off without it.
Only thing worthwhile about a credit card is that it makes it easier to rent a car and make hotel reservations. Period.
Mine are on their way to being paid off. My objective is to go into retirement more-or-less debt free.
Mine are on their way to being paid off. My objective is to go into retirement more-or-less debt free.
quote:Only thing worthwhile about a credit card is that it makes it easier to rent a car and make hotel reservations. Period.
You can use a debit card for all of that. I've stayed in hotels in Denver, Chicago, Disney World, rented a cabin in Pigeon Forge, even stayed at the Opryland Hotel here in Nashville for my honeymoon. I've also rented cars and had no trouble doing so. All without ever owning a credit card in my life. I can't think of a single reason why anyone should own a credit card.
It's awesome that you're almost debt free. Keep working at it and you'll make it.
Your line that the Government forced Banks through the CRA to loan to unqualified "minorities" and they defaulted and caused the melt down is just the usual lies and nonsense we expect from the Right Wing.
Predatory Lending, one of the major reasons for the meltdown, was aimed primarily in Minority Communities. The majority, over 80%, were not CRA related
Wages should be higher then costs but they have basically just keep up or now fall below.
Using credit is OK at times, keeping up on payments also teaches responsibility. Interest rates should be lower. The banks gave out credit cards and loans not because they were forced to by the government but because they were making money. They knew the risks they were taking and wanted it all ways.
There was an article in the NY Times yesterday about Wall Street, Headlined, Wall, the Bonuses, not profits, were real.
Predatory Lending, one of the major reasons for the meltdown, was aimed primarily in Minority Communities. The majority, over 80%, were not CRA related
Wages should be higher then costs but they have basically just keep up or now fall below.
Using credit is OK at times, keeping up on payments also teaches responsibility. Interest rates should be lower. The banks gave out credit cards and loans not because they were forced to by the government but because they were making money. They knew the risks they were taking and wanted it all ways.
There was an article in the NY Times yesterday about Wall Street, Headlined, Wall, the Bonuses, not profits, were real.
quote:Your line that the Government forced Banks through the CRA to loan to unqualified "minorities" and they defaulted and caused the melt down is just the usual lies and nonsense we expect from the Right Wing.
Predatory Lending, one of the major reasons for the meltdown, was aimed primarily in Minority Communities. The majority, over 80%, were not CRA related
Wages should be higher then costs but they have basically just keep up or now fall below.
Using credit is OK at times, keeping up on payments also teaches responsibility. Interest rates should be lower. The banks gave out credit cards and loans not because they were forced to by the government but because they were making money. They knew the risks they were taking and wanted it all ways.
There was an article in the NY Times yesterday about Wall Street, Headlined, Wall, the Bonuses, not profits, were real.
I never said anything about minorities, you did. Are you saying that minorities have bad credit? From my experience, there are people of all races with bad credit and good credit. If a bank loans to someone who won't pay them back, they lose money regardless of their race.
It's funny how the left always spins everything to protecting minorities, as if they can't take care of themselves.
Using credit is rarely okay. Student loans and buying a home are the only times I can think of where it's okay to borrow. Even then, borrow as little as possible. If you want to teach responsibility, teach your kids to stay away from credit cards and be responsible with cash and learn how to save.
No one said that the government forced banks to give out credit cards. They were forced to give out mortgages by the CRA and that's been proven by a number of different sources. Ignoring the facts doesn't make them go away.
quote:Originally posted by NashBama:
Ignoring the facts doesn't make them go away.
It does if you're a moonbat.
"Ignoring the facts will not make them go away" Nash, but still you insist on trying.
Your back peddling, (out right lying) and trying to change the subject is childish and pathetic.
It's nonsense.
The CRA never forced banks to make bad loans, Banks used Predatory Lending Practices and got too greedy. The Majority of the defaults are Not CRA related.
Your back peddling, (out right lying) and trying to change the subject is childish and pathetic.
It's nonsense.
The CRA never forced banks to make bad loans, Banks used Predatory Lending Practices and got too greedy. The Majority of the defaults are Not CRA related.
quote:"Ignoring the facts will not make them go away" Nash, but still you insist on trying.
Your back peddling, (out right lying) and trying to change the subject is childish and pathetic.
It's nonsense.
The CRA never forced banks to make bad loans, Banks used Predatory Lending Practices and got too greedy. The Majority of the defaults are Not CRA related.
I've posted plenty of evidence that proves the CRA does force banks to do just that. Other posters have also provided evidence. You either dismiss it or claim you don't have time to read a paragraph.
There is no lying on my part, it's all been proven. If anyone is lying it's you. You're lying to yourself for believing the government will solve all of our problems if we just give them more power. You're lying to yourself if you believe that banks would ruin themselves by loaning to unqualified borrowers without being forced to. You're lying to yourself if you believe that a communist system will work in our country even though it's failed every where else it's been tried.