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I know a couple of people that have had to use their credit cards for food and medical. Of course, for my part, I wasn't including necessities in credit card use. I was referring to "luxury" items that if someone had to pay cash upfront for, would clearly be out of their budget. No offense intended, I'm sorry if I did 
Ohhh..it wasn't about what you said. I was just thinking about people that have had no choice but to do that. And..there are those people that did it when they lost their jobs. My cousin's 19 yr. old son almost died and needed surgery and he was out-of-state. No insurance. The parents had to re-finance their home and max out their charge cards. But...once they do these things...it's a horrible cycle to get out of that situation. Yeah, it really is and I feel for those people, I've had to do the same on occasion.
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I know a couple of people that have had to use their credit cards for food and medical. Of course, for my part, I wasn't including necessities in credit card use. I was referring to "luxury" items that if someone had to pay cash upfront for, would clearly be out of their budget. No offense intended, I'm sorry if I did
Ohhh..it wasn't about what you said. I was just thinking about people that have had no choice but to do that. And..there are those people that did it when they lost their jobs. My cousin's 19 yr. old son almost died and needed surgery and he was out-of-state. No insurance. The parents had to re-finance their home and max out their charge cards. But...once they do these things...it's a horrible cycle to get out of that situation. Yeah, it really is and I feel for those people, I've had to do the same on occasion.
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and i came to see what ya had ta say
silly me 
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and i came to see what ya had ta say silly me
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Edited by
Unknow
on
Sat 11/15/08 05:57 PM
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Oh whose to blame? In my area, greedy developers who made A TON of money fast. The "value" of my home tripled in value on paper from the beginning of 2001 till the Collapse of, started going down in 2003. It was value all on paper. The paper collapsed. Now I live around empty foreclosed homes that were sold for $200,000 and now on the market for for $40,000 and cant sell it.Thats just homes in my braket. There are some very NICE homes sitting empty. They are people locally that need to be put in jail. Think of it in a 3 yr time how much money people made. Except the value was all paper. Sorry I don't blame all the people who are foreclosed on. This must not be brushed aside especially here in Florida!!!
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the only ones to blame for the lending crisis is the lenders if they do not qualify do not give them the money granted some are due to free trade agreement job loss but that started way b4 bush but if they did not give money almost anyone this would have never happened i feel it is the plan of the federal reservee to take control of the country and the world hopefully obama and the dems will abolish doing busines with the federal reserve (it is a private entity I think the blame lies with both, with the Lenders giving the loans, cards etc to people who really couldn't afford it (and they knew it) and a lot of the time really downplaying (or even lying about) the risks involved with some of these questionable loans. But, too, most Americans have the "now" mindset, I must have it now. And not only must I have it now, it must be at least as good as my sisters/neighbors/boss/bestfriend, if not better. A lot of people are going to come to very harsh reality of the term "living within your means." A lot of advantage was taken on both parts. And quite frankly, harsh as it sounds, I don't think anyone should be bailed out. Let it all fail, then start over from scratch. It won't kill us and then maybe some lessons will be re-learned. 
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Edited by
Unknow
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Sun 11/16/08 07:04 AM
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"SUPER-INFLATED COSTS" scares the he!! out of me with a dollar thats worth? Our Economy is fine, Greed and down right illegal actions just keeps messing it up.
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There is enough blame to go around but it is funny that we have a credit issue from the top of the Federal Govt. to the smallest of communities. I am not saying we should go back to these times but I have an uncle that is a pretty successful guy--not a rich guy, but he's done OK. He had a rule and with two kids and a wife, I don't know that he's ever broken it. He would only buy a vehicle and a home on credit. Nothing else--no TVs, no entertainment centers, no family vacations, no furniture. He figured that if he could not afford it, he needed to save it.
I wish I could say that I've always followed my uncle's vision, but alas, that would be a lie. But I've done better. Most make financial mistakes but lenders need to say NO if a person rates a bad credit risk. If a person rates a bad credit risk, umm, well, there is a reason. But the second part of that, at least in my mind, is that people with poor credit need to stop acting as though they are entitled to credit. They aren't. Businesses have a right to deny credit if a person is a bad risk. They don't have a right to refuse credit on the basis of gender or race and should be prosecuted if they do so but come on, in the past few years, credit started to become free and we are now paying the price. Debt--the real American way! -Drew |
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There is enough blame to go around but it is funny that we have a credit issue from the top of the Federal Govt. to the smallest of communities. I am not saying we should go back to these times but I have an uncle that is a pretty successful guy--not a rich guy, but he's done OK. He had a rule and with two kids and a wife, I don't know that he's ever broken it. He would only buy a vehicle and a home on credit. Nothing else--no TVs, no entertainment centers, no family vacations, no furniture. He figured that if he could not afford it, he needed to save it. I wish I could say that I've always followed my uncle's vision, but alas, that would be a lie. But I've done better. Most make financial mistakes but lenders need to say NO if a person rates a bad credit risk. If a person rates a bad credit risk, umm, well, there is a reason. But the second part of that, at least in my mind, is that people with poor credit need to stop acting as though they are entitled to credit. They aren't. Businesses have a right to deny credit if a person is a bad risk. They don't have a right to refuse credit on the basis of gender or race and should be prosecuted if they do so but come on, in the past few years, credit started to become free and we are now paying the price. Debt--the real American way! -Drew |
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He figured that if he could not afford it, he needed to save it. Debt--the real American way! -Drew My brother's wife called me several years ago......Seems she had a cregit card that she kept at the $5,000 limit 
The credit card company notified her that they were raising the interest rate on her card due to the balance remaining at $5,000. She wanted to know if they could do that
"DUHHHHHH.....of course... they are out $5,000 because of you!" 'BUT I make a payment every month,'...."Then WHY is your balance at $5,000?" "Because I go buy somethimg else...."
LINDYY 
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He figured that if he could not afford it, he needed to save it. Debt--the real American way! -Drew My brother's wife called me several years ago......Seems she had a cregit card that she kept at the $5,000 limit
The credit card company notified her that they were raising the interest rate on her card due to the balance remaining at $5,000. She wanted to know if they could do that
"DUHHHHHH.....of course... they are out $5,000 because of you!" 'BUT I make a payment every month,'...."Then WHY is your balance at $5,000?" "Because I go buy somethimg else...."
LINDYY
P.S. I own zero credit cards....that "SALE" that you just "HAD" to have ends up costing MORE than the ORIGINAL selling price
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Edited by
Unknow
on
Sun 11/16/08 08:28 AM
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He figured that if he could not afford it, he needed to save it. Debt--the real American way! -Drew My brother's wife called me several years ago......Seems she had a cregit card that she kept at the $5,000 limit
The credit card company notified her that they were raising the interest rate on her card due to the balance remaining at $5,000. She wanted to know if they could do that
"DUHHHHHH.....of course... they are out $5,000 because of you!" 'BUT I make a payment every month,'...."Then WHY is your balance at $5,000?" "Because I go buy somethimg else...."
LINDYY
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I know a couple of people that have had to use their credit cards for food and medical. Of course, for my part, I wasn't including necessities in credit card use. I was referring to "luxury" items that if someone had to pay cash upfront for, would clearly be out of their budget. No offense intended, I'm sorry if I did
Ohhh..it wasn't about what you said. I was just thinking about people that have had no choice but to do that. And..there are those people that did it when they lost their jobs. My cousin's 19 yr. old son almost died and needed surgery and he was out-of-state. No insurance. The parents had to re-finance their home and max out their charge cards. But...once they do these things...it's a horrible cycle to get out of that situation. Yeah, it really is and I feel for those people, I've had to do the same on occasion.
Why, thank you.
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and i came to see what ya had ta say silly me
You're silly anyway. 
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and i came to see what ya had ta say silly me
You're silly anyway.
but thats a good thing right 
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the only ones to blame for the lending crisis is the lenders if they do not qualify do not give them the money granted some are due to free trade agreement job loss but that started way b4 bush but if they did not give money almost anyone this would have never happened i feel it is the plan of the federal reservee to take control of the country and the world hopefully obama and the dems will abolish doing busines with the federal reserve (it is a private entity well...starting with the Community Reinvestment Act of 1977...which was put on steroids during the Clinton administration...Congress began intimidating banks and other financial institutions into making loans...so called subprime loans...to high risk homebuyers and businesses...the so called carrot offered...was that these high-risk loans would be purchased by the government-sponsored enterprises Fannie Mae and Freddie Mac...just a few short years ago Barney Frank, Chris Dodd, and Maxine Waters all vouched for the soundness of Fannie and Freddie...Dodd actually saying..."riding to the rescue" to help people get home mortgage loans... adding that they "need to do more" to help high-risk borrowers get better loans...the collapse of frannie...and... freddie is not a failure of the free market...( which the Dems keep insisting )..lending institutions in a free market would not have taken on the high-risk loans... they were forced to...by the government....the solution is not a taxpayer bailout...the solution is to let them fail...and...allow the people who invested in them, as well as the people who purchased homes they couldn't afford...suffer the losses...the original poster is absolutely correct...this whole mess all began in the name of Fair Housing...greed, and stupidity...add to that...Democrats trying to make people feel good about themselves...[ the is a Democrat imposed problem ]...so...here we stand today...with a government induced crisis...while being led to believe that we now have a " government solution "...in my opinion...sadly...this is just the tip of the iceberg... |
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Edited by
Unknow
on
Sun 11/16/08 09:01 AM
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and i came to see what ya had ta say silly me
You're silly anyway.
but thats a good thing right
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I know a couple of people that have had to use their credit cards for food and medical. Of course, for my part, I wasn't including necessities in credit card use. I was referring to "luxury" items that if someone had to pay cash upfront for, would clearly be out of their budget. No offense intended, I'm sorry if I did
Ohhh..it wasn't about what you said. I was just thinking about people that have had no choice but to do that. And..there are those people that did it when they lost their jobs. My cousin's 19 yr. old son almost died and needed surgery and he was out-of-state. No insurance. The parents had to re-finance their home and max out their charge cards. But...once they do these things...it's a horrible cycle to get out of that situation. Yeah, it really is and I feel for those people, I've had to do the same on occasion.
Why, thank you.
Anytime winx
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and i came to see what ya had ta say silly me
You're silly anyway.
but thats a good thing right
been there why whats up |
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the only ones to blame for the lending crisis is the lenders if they do not qualify do not give them the money granted some are due to free trade agreement job loss but that started way b4 bush but if they did not give money almost anyone this would have never happened i feel it is the plan of the federal reservee to take control of the country and the world hopefully obama and the dems will abolish doing busines with the federal reserve (it is a private entity well...starting with the Community Reinvestment Act of 1977...which was put on steroids during the Clinton administration...Congress began intimidating banks and other financial institutions into making loans...so called subprime loans...to high risk homebuyers and businesses...the so called carrot offered...was that these high-risk loans would be purchased by the government-sponsored enterprises Fannie Mae and Freddie Mac...just a few short years ago Barney Frank, Chris Dodd, and Maxine Waters all vouched for the soundness of Fannie and Freddie...Dodd actually saying..."riding to the rescue" to help people get home mortgage loans... adding that they "need to do more" to help high-risk borrowers get better loans...the collapse of frannie...and... freddie is not a failure of the free market...( which the Dems keep insisting )..lending institutions in a free market would not have taken on the high-risk loans... they were forced to...by the government....the solution is not a taxpayer bailout...the solution is to let them fail...and...allow the people who invested in them, as well as the people who purchased homes they couldn't afford...suffer the losses...the original poster is absolutely correct...this whole mess all began in the name of Fair Housing...greed, and stupidity...add to that...Democrats trying to make people feel good about themselves...[ the is a Democrat imposed problem ]...so...here we stand today...with a government induced crisis...while being led to believe that we now have a " government solution "...in my opinion...sadly...this is just the tip of the iceberg... and did the federal reserve pressure the govt you jnow the ones making the interest on the 700 billion |
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