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Credit card relief?
Newsday ^
| November 1, 2008
| AP
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 ...
TOPICS: Business/Economy
KEYWORDS: 111th; bailouts; bho2008; credit; creditcrisis; nextbailout
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To: kittymyrib
Splitting 1.5 trillion by 180 million adults and each person would get $8300. It would need to be a $30 trillion dollar bail out to give every person $200k which couldn't be accomplished without printing and massive inflation.
61
posted on
11/09/2008 9:07:49 PM PST
by
rb22982
To: Lorianne
Why do they need the government’s okay to forgive the debt? Becase they want to do it but not be held liable taxwise for writing it off?
62
posted on
11/09/2008 9:14:52 PM PST
by
informavoracious
(The chasing mutt caught the car. Now what?)
To: autumnraine
yeah - I’m going to run up my credit cards and sign up for my hand out.
To: Lorianne
I see W’s doubling of minimum credit card payments is paying off.
64
posted on
11/10/2008 5:21:50 AM PST
by
quack
("Those Who Sacrifice Liberty For Security Deserve Neither.")
To: Lorianne
Don’t get too excited. They probably will only bailout those cards held by low income folks.
They need those who pay on their cards. In fact, they will probably add some kind of penalty to those who do pay.
65
posted on
11/10/2008 5:27:29 AM PST
by
dforest
(Is there any good idea out there that Obama doesn't lay claim to anymore?)
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