Posted on 11/09/2008 4:50:29 PM PST by Lorianne
Banks, which are losing billions because many card holders aren't paying anything, seek OK to forgive up to 40% of strapped consumers' debts
(Excerpt) Read more at newsday.com ...
Dang kids, it’s going to be a fantastic Christmas!!! I can smell the plastic burning now.
So — just for giggles, what will the interest rate work out to for the taxpayers who will be funding this massive government give away?
Well, technically they added dozens of 0s. After the first one, they each get a little easier...
I suppose it’s not really funny, but yet I’m LMAO. Beats screaming I guess.
Clue, give the credit card companies an 11% maximum rate.
How many idiots are out there running it up on anticipation?
How about those student loans. I could use a 40% reduction on mine!!! If everyone else is getting a handout..include me too. I dont want to pay for gas, either!
Why didn’t the nanny government send every family $600,000 bucks and every single person $200,000? It would certainly be cheaper than the 1.5 TRILLION they are wasting on bailing out banks, insurance companies and now the auto industry. Just think of how the economy would be roaring along with all that money out there! Of course, if everyone had enough money, there would be no reason to vote for the clowns in D.C., who want voters deprived so they can give them meager payments that keep them dependent on Dems being elected.
Yah. Though I seem to recall they recently dropped a whole bunch of zeros.
(But not the biggest one of all, Robert himself.)
Now the banks are looking at a mountain of bad debt, often because they slammed people who were in a bind with penalties and absurd interest rates.
Then, they gave 900,000,000,000 to the people who caused this to "free up the credit markets, which adds about 12k to the national debt for my family of four. It would have made more sense to drop the money out of helicopters or simply given $3K to everyone with a pulse. They would have paid off a lot of that debt and freed up the credit markets. The banks used it to stabilize their positions but did nothing to unfreeze the credit markets, which was supposed to be the reason they created the bailout.
In Ohio, we limit the maximum rate and number of loans a person can get from Payday loan places. Maybe it’s time to limit the amount of credit a credit card company can issue to its card holders.
Chickens coming home to roost may be more appropriate than we know....I am beginning to think there might be some truth to this claim that Obama is the son of a Cuban...or it could be a complete hoax with someone just purloining the name of a participant in the Bay of Pigs invasion with friends who were CIA operatives.
http://www.amigospais-guaracabuya.org/oagoh001.php
RE :”Write your reps in Congress and say NO”
That cat was let out of bad in September, that bill was a blank check to endless bailouts, as Neil Cavuto warned. Fortunately ALL Republicans stood firm and made the democrats pass it alone, what?? sorry! , I was mistaken, it was a great bill, saved the economy. LOL
We did have some heros in the house.
That was how my brain read it anyway, LOL
You got it!
Now, this, is truly ROFL funny!
Clean up in aisle 5......tea allllllll over.
OMG TYTY, My monitor didn’t need that, but I did.
Perfect!
Looks like I picked a bad time to keep my payments current.
Heh This could be a good one, I bet I could rack up a couple of hundred thousand in Credit Card debt pretty easy : ) I have had my eye on a nice sail boat for a long time.
And because it is a sail boat, that should provide me with Carbon Credits to sell. Maybe I could buy enough sail boats on credit cards and sell the carbon credits to support myself in the style I will be accustomed to : )
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