NACA – suggesting lowering rates

[jpinpb]

I am so against any assistance. Did we help anyone who was upside-down during that ’90’s r.e. fiasco? How about the ’80’s w/balloon payments. Why now? B/c of magnitude and quantity. Not right to punish all the taxpayers and burden us w/the stupidity of others. Every time I think about it, it infuriates me.

[cr]

Does anyone see why this interest rate thing couldn’t spread to credit card debt, where people rack up massive debt in things they can’t afford and cash advances then say they didn’t know they had to pay even more money back?

Would some lawyer, politician, or liberal fight for them to pay only a portion back?

Sounds ridiculous but that’s exactly what’s happening in housing.

[cr]

Does anyone see why this interest rate thing couldn’t spread to credit card debt, where people rack up massive debt in things they can’t afford and cash advances then say they didn’t know they had to pay even more money back?

Would some lawyer, politician, or liberal fight for them to pay only a portion back?

Sounds ridiculous but that’s exactly what’s happening in housing.

[cr]

Does anyone see why this interest rate thing couldn’t spread to credit card debt, where people rack up massive debt in things they can’t afford and cash advances then say they didn’t know they had to pay even more money back?

Would some lawyer, politician, or liberal fight for them to pay only a portion back?

Sounds ridiculous but that’s exactly what’s happening in housing.

[cr]

Does anyone see why this interest rate thing couldn’t spread to credit card debt, where people rack up massive debt in things they can’t afford and cash advances then say they didn’t know they had to pay even more money back?

Would some lawyer, politician, or liberal fight for them to pay only a portion back?

Sounds ridiculous but that’s exactly what’s happening in housing.

[cr]

Does anyone see why this interest rate thing couldn’t spread to credit card debt, where people rack up massive debt in things they can’t afford and cash advances then say they didn’t know they had to pay even more money back?

Would some lawyer, politician, or liberal fight for them to pay only a portion back?

Sounds ridiculous but that’s exactly what’s happening in housing.

[nostradamus]

jpinpb, I’m also against any bailout but I have an inkling that our banking system may be on the verge of collapse unless something happens. It’s f’d up that the banks made these reckless loans but we all need banks to be solvent.

cooprider, I would not be surprised if there were also talk of some credit card bailout. I was listening to NPR and they were out interviewing people who are indeed racking up massive debt on their credit cards. It was a news report about how popular those “payday advance” check cashing places are… Basically they give you an advance on your paycheck for some outrageous finance charge. The reviewer stated that at times the lines were out the door… And most of the customers are regulars. People were getting paycheck advances in order to make minimum monthly payments on maxed-out credit cards.

[nostradamus]

jpinpb, I’m also against any bailout but I have an inkling that our banking system may be on the verge of collapse unless something happens. It’s f’d up that the banks made these reckless loans but we all need banks to be solvent.

cooprider, I would not be surprised if there were also talk of some credit card bailout. I was listening to NPR and they were out interviewing people who are indeed racking up massive debt on their credit cards. It was a news report about how popular those “payday advance” check cashing places are… Basically they give you an advance on your paycheck for some outrageous finance charge. The reviewer stated that at times the lines were out the door… And most of the customers are regulars. People were getting paycheck advances in order to make minimum monthly payments on maxed-out credit cards.

[nostradamus]

jpinpb, I’m also against any bailout but I have an inkling that our banking system may be on the verge of collapse unless something happens. It’s f’d up that the banks made these reckless loans but we all need banks to be solvent.

cooprider, I would not be surprised if there were also talk of some credit card bailout. I was listening to NPR and they were out interviewing people who are indeed racking up massive debt on their credit cards. It was a news report about how popular those “payday advance” check cashing places are… Basically they give you an advance on your paycheck for some outrageous finance charge. The reviewer stated that at times the lines were out the door… And most of the customers are regulars. People were getting paycheck advances in order to make minimum monthly payments on maxed-out credit cards.

[nostradamus]

jpinpb, I’m also against any bailout but I have an inkling that our banking system may be on the verge of collapse unless something happens. It’s f’d up that the banks made these reckless loans but we all need banks to be solvent.

cooprider, I would not be surprised if there were also talk of some credit card bailout. I was listening to NPR and they were out interviewing people who are indeed racking up massive debt on their credit cards. It was a news report about how popular those “payday advance” check cashing places are… Basically they give you an advance on your paycheck for some outrageous finance charge. The reviewer stated that at times the lines were out the door… And most of the customers are regulars. People were getting paycheck advances in order to make minimum monthly payments on maxed-out credit cards.

[nostradamus]

jpinpb, I’m also against any bailout but I have an inkling that our banking system may be on the verge of collapse unless something happens. It’s f’d up that the banks made these reckless loans but we all need banks to be solvent.

cooprider, I would not be surprised if there were also talk of some credit card bailout. I was listening to NPR and they were out interviewing people who are indeed racking up massive debt on their credit cards. It was a news report about how popular those “payday advance” check cashing places are… Basically they give you an advance on your paycheck for some outrageous finance charge. The reviewer stated that at times the lines were out the door… And most of the customers are regulars. People were getting paycheck advances in order to make minimum monthly payments on maxed-out credit cards.

[Author]

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