So in an essence, the reserve/central bank were also giving bad loans to the banks who gave bad loans to the customer… domino effect. The federal reserve made a bad investment, thus did the banks and the customers who took the loan also “in an essence” made a bad investment/decision in what they did with the money…

I guess the point of my comment is if the reserve/central bank lent the $ to the banks in the first place… what’s the point of having taxpayers pay the tab when the central bank could just forgive the bad debt, thus banks forgiving the bad debt they gave to customers.. start over, taxpayers are left with the bill… banks clean up their regulations, guidelines and learn from their mistakes.

Just my 2 cents.

However, reasonable sounding plans have done nothing but put the country in debt. I stand by my assertion.

>>That’s point I was making. You seem to think
>>people can’t think for themselves or learn
>>from their mistakes or be responsible for
>>their own actions.

Oh. I get it now. You think someone who has been devastated by cancer or heart disease, or whose job has been offshored to some sweatshop in Mumbai should just suck it in and not go into debt. I see.

If that’s your stance, why cap interest rates at 36%? That’s excessive government interference in the “free market”, don’t you think? How about 50% per day, and if you don’t pay up, guys with baseball bats come to your home?

I don’t consider what I’m promoting to be anything like a “nanny state”, it’s just insuring that predatory f&cks like the credit card companies don’t take unfair advantage of those who are most vulnerable. Which is exactly what they’ve been doing.

I hate to break it to you but we already spend more money on social programs than anything else. Why do you think we’re so broke?

http://tinyurl.com/9e24r

Don’t get me wrong, I am adamantly opposed to the bailout. But I think the reason for opposing it shouldn’t be “for the children” unless it’s because you don’t want them paying for the debt for the next 50 years.

It should be because it’s just wrong to pay for other people’s mistakes in this fashion.

That’s point I was making. You seem to think people can’t think for themselves or learn from their mistakes or be responsible for their own actions.

You think the government should protect them from themselves.

That is a nanny attitude. As every nanny I’ve ever seen was some old lady, I was wondering if you wear a girdle when you get into nanny mode. Understand it now or should I send a picture?

Yep.

>>I’m sure there will be no debt relief for the
>>people on Main street. This is yet another
>>socialist welfare program.

Right. Except, in contrast to regular welfare (which helps people who need help), this is welfare to help keep Financial Titans in 100-foot yachts, second (and third and fourth and fifth….and seventh) homes, etc.

No money for early childhood education or universal health care, but when some Wall Street wankers need to upgrade their 70-foot yacht to a hundred-footer, all of a sudden we’re running the money presses 24/7.

>>35, Do you wear a girdle when you get into
>>your nanny mode

WTF is that supposed to mean? Is it just another one of your endearing non sequiturs, or was there an actual point?

I had 3 points:

1) CC companies are sleazy, and don’t inform card holders in a reasonable way about changes to their acount.

2) Some peoploe have excessive credit card debt because they are spendthrifts

3) Some people have excessive credit card debt due to circumstances beyond their control

and there was a fourth implicit point, one that I have mede explicitly in previous posts: These sleazy bastards need to be regulated up the ass, regulated to the point where they’re crying “Uncle”. All the damage they’ve done to consumers over the years should not go unpunished, and it should CERTAINLY not be allowed to continue.

I’m sure there will be no debt relief for the people on Main street. This is yet another socialist welfare program.

The solution would be to go to the linked article and see the poll for yourself. You did read the linked article, didn’t you?

Yes, I did and my apologies for the way I worded my statement.

I was really trying to figure out was what all was included in the question other that “We want it, we might want it, we don’t want it.” I suppose if no one knew what was in the bill other than talking points, those would be enough.

#35, Do you wear a girdle when you get into your nanny mode?

>>are these individual ppl being bailed out? or
>>are we bailing the banks who still going to
>>sue folks or place judgements.???

Based on current trends, I’d say the latter.

That’s the New Socialism. F&ck the individual people; protect Wall St., banks, etc. The only individual people benefitting from this redistribution of wealth are obscenely-overpaid mega-millionaires.

In other words, has anybody said or is it anywhere that ppl who racked up debt and past paying or now charged off, etc.. now being bailed out??

Seems if that is the case, they just eliminated a ton of collections jobs? Right? Concerning debt and ppl blaming the ppl in it.. well, folks may disagree with me but to me it’s a slippery slope.

Yea.. ppl borrowed that $ and they owe it.. but I know people who are honest, never late on a payment for years, etc etc who just got themselves in total Sh*t situations and the only way they tried to fix or could fix was to charge while trying to recover & pay back but just ended up digging themselves deeper to the point of losing hope and pretty much everything ..

It happens and sure lot of people have a sad story while others are fortunate to make the right decisions everyday and not be in this position. However, these folks who were months behind were still getting CC applications and pre-approved Loan Offers… It’s like the CC’s knew they were in a bad time of life, need $ to pay others and waving this in front of them to take…

I’m sorry but think lot of this happened bc ppl unfortunately got themselves in the scenario of borrowing from Bill to pay John, then borrowing for Henry to pay Bill & so on etc etc. Same thing for banks, they were doing the same exact thing.

Again, it’s a slippery slope for me and everyone’s to blame and of course there is just the deadbeats who had no intention of ever paying a penny.. but the main question is, are these individual ppl being bailed out? or are we bailing the banks who still going to sue folks or place judgements.???

>>…instead of charging them 36 percent
>>interest. I don’t know about you but I’ve
>>never been charged that.

Neither have I. In fact, I haven’t been charged ANYTHING for over 15 years, b/c I always pay my bill off every month. Looking at the mysterious 8-page, single-spaced, double-sided, 6-pt font form letters they send me every now and then with IMPORTANT INFORMATINO ABOUT MY ACCOUNT, I see they have the right to do that. At any time. For almost any reason.

Some people carry a credit card balance because they have no self-restraint, and can’t stay out of the day spa, away from the power-boat dealer, choose to eat filet mignon on a hamburger paycheck, etc. They should get whatever’s coming to them.

Others carry one because some emergency (medical, job loss, etc.) has left them without enough money for basic necessities for their family, or other circumstances beyond their control have made it necessary to borrow money. Credit card companies are a little bit (a very little bit) better than the guys with the broken noses and baseball bats, so that’s where they go. Those people should not be subjected to the virtually regulation-free abuse that credit card companies are capable of inflicting on them. And THEY are the ones who are being charged 36% interest. The ones who are paying $3600/yr on a $10,000 credit card bill.

That should be illegal.

>>every bank customer should be allowed to pay the
>>[credit card] balance automatically, just like a
>>utility bill

How are they going to pay it automatically? Charge it to their credit card? The only other option is to deduct from their checking account, and imagine the fine kettle of fish you’d be in when some bogus $10,000 charge appears on your bill, and all your checks start bouncing. It would take a year to straighten that mess out.

No thanks.

I get my credit card bill, review it for any charges that look suspicious, and then e-pay the bill. I like it better that way.