Unsettled Economy & The Bailout

[matapule]

Re: Unsettled Economy & The Bailout

A speedy tanking and recovery is the best of alternatives. I don't think a long, drawn out, festering financial system like Japan's bubble collapse is a good model to follow. The devil is in the unknown specifics. If, with this $700 billion, we buy securities at distressed market prices, then we may make a killing when they are sold after the market has resumed normal functioning. However, if we pay more than they're worth, we're hosed. I can only hope for the best. Raising account insurance to $250K looks like a plum thrown to the wealthy (us po' fo'k ain't even got $100K in da bank), among the other pork inclusions.

In general I agree with what Ed said, It is so important I quoted in entirety. I rarely agree with Ed but we are ohana (famili) here even when we disagree.

WE ARE SO HOSED WITH THIS BAILOUT BILL.

[GregLee]

Re: Unsettled Economy & The Bailout

In addition, tack on a ridiculously high annual fee to EVERY card. ...

So judgmental. So ready to make rules for everyone else to follow. If a credit card company is willing to extend credit and a consumer decides to take the deal, what business is it of yours to tell them they can't deal with each other, or to impose some special fees or rules to make their lives difficult? Where do you get off? Sometimes as I read these threads where you guys want to regulate every aspect of others' financial dealings, I just wonder whether I'm the only one left who believes in a free market, or in freedom, for that matter.

[matapule]

Re: Unsettled Economy & The Bailout

So judgmental. So ready to make rules for everyone else to follow. If a credit card company is willing to extend credit and a consumer decides to take the deal, what business is it of yours to tell them they can't deal with each other, or to impose some special fees or rules to make their lives difficult? Where do you get off?

Greg, Greg, Greg stop to think if you might be the one who is being judgemental. It only matters to me if I will be asked to BAILOUT the credit card companies. The average consumer is like an alcoholic addicted to credit. Screw the credit card companies and their irresponsible lending practices. I WILL NOT BAIL THEM OUT!

Lay off of Tutu, she is not a threat to you. If you want to criticize then bring it on to the matapule. I get off on wacking bullies.

For the second time, what line of business are you in? I'm retired. I have no agenda other than to live out my life with some sort of dignity, without being a burden to you. What is your agenda?

[tutusue]

Re: Unsettled Economy & The Bailout

[...]
No, the solution is to put a credit limit on your card that is a formula based on your ability to repay, i.e. a function of income, net worth, and credit history. I agree it is called REGULATION.

I don't why I care so much about this, because my financial house is in order.

Yes, I completely agree with a credit limit based on the criteria you listed...as long as lenders (credit cards and mortgages) strictly adhere to tough guidelines. Still, the more I think about it, the more I feel that the PRIVILEGE of credit cards should come at a hefty cost to make people think twice before they either apply or charge something they don't need.

I clearly remember obtaining my first mortgage on a $27,000. house, circa 1965. My ex and I both had decent jobs in the film industry in L.A.; a good income for that era...and no kids at that time, either! We had to jump thru hoops to qualify even with the mandatory 20% down and a monthly payment of $132.!!! The banks had no idea that we borrowed half of that down payment from my dad! That was hush-hush!!! My, how times have changed.

I think having your financial house in order, matapule, enables you to clearly see how important that is. Maybe that's why you care so much.

[tutusue]

Re: Unsettled Economy & The Bailout

So judgmental. So ready to make rules for everyone else to follow. If a credit card company is willing to extend credit and a consumer decides to take the deal, what business is it of yours to tell them they can't deal with each other, or to impose some special fees or rules to make their lives difficult? Where do you get off? Sometimes as I read these threads where you guys want to regulate every aspect of others' financial dealings, I just wonder whether I'm the only one left who believes in a free market, or in freedom, for that matter.

[...]
Lay off of Tutu, she is not a threat to you. If you want to criticize then bring it on to the matapule. I get off on wacking bullies. [...]

Thanks, matapule, but I can take...and give...the whacks!!! <bow to Auntie!>

Greg, I obviously pressed your button. I don't apologize for that because, to quote myself:

And, no, I've not put much thought into this idea. Just throwing it out there.

Sorry you're having such a bad day. That, however, is not my fault. A few deep breaths and a good night's sleep might help to dissipate your misplaced anger.

[matapule]

Re: Unsettled Economy &amp; The Bailout

I clearly remember obtaining my first mortgage on a $27,000. house, circa 1965. My ex and I both had decent jobs in the film industry in L.A.; a good income for that era...and no kids at that time, either! We had to jump thru hoops to qualify even with the mandatory 20% down and a monthly payment of $132.!!! The banks had no idea that we borrowed half of that down payment from my dad! That was hush-hush!!! My, how times have changed.that's why you care so much.

Were we next door neighbors? First house was in 1972, with two youngin's. I built it myself with the help of my FIL, god rest his soul. All redwood, hippie style and I won a local award for the design. Total cost was $20K of which FIL loaned half which we paid back 2 or 3 years later. It was a beautiful house and a happy home. He was an extremist, evangelical Assembly of God Christian, but he not only talked the talk, he also walked the walk. He helped out many people in his life with no expectation for repayment. He was not perfect, but he was a true Christian.

Tutu, we are fossils, dinosaurs and the next generation is going to have to learn their lessons the hard way. It is called tough love.

[GregLee]

Re: Unsettled Economy &amp; The Bailout

I WILL NOT BAIL THEM OUT!

Then don't. Who asked you?

What is your agenda?

Keeping people like you off my back, or anyone else's.

[GregLee]

Re: Unsettled Economy &amp; The Bailout

Sorry you're having such a bad day. That, however, is not my fault. A few deep breaths and a good night's sleep might help to dissipate your misplaced anger.

I'm not angry with you. I want you to think twice before you start making rules for me and others to follow. Shall I make rules for you to follow?

[matapule]

Re: Unsettled Economy &amp; The Bailout

Sorry you're having such a bad day.

Greg is having a bad day because the stock market tanked despite passage of the bailout bill. Greg, once again, what is your line of work? The economy is hosed and the taxpayer is screwed regardless of Obama/McCain support for this bill. Cudos to the Reps and Dems who opposed this bill.

I would never presume to speak for Tutu, she obviously can take care of herself.

[tutusue]

Re: Unsettled Economy &amp; The Bailout

I'm not angry with you. I want you to think twice before you start making rules for me and others to follow. Shall I make rules for you to follow?

"Making rules"? Surely you jest. Serious question: exactly how can I do that? Possibly we each have different definitions for the words "maybe" and "idea"? How in the world did you manage to misinterpret idea for "making rules"? I really don't feel the need to "think twice" before posting ideas to HT. If you feel the need to ride my okole for that then...have at it. If you want to disagree with me in a mature manner then I'm all ears...or eyes, as the case may be.

Once again and at the risk of redundancy...

And, no, I've not put much thought into this idea. Just throwing it out there.

Now that I've thought about it a little more, I think it's a good IDEA, IOW:
A notion; a fancy, the thought of something

Regardless, I'm flattered that you feel I have the kind of influence that allows you to think I have the ability to "make rules" that would affect you. Dang, I had no idea that I have that kinda power! I learn something new everyday.

And yes, if you had ideas that I thought were worthwhile I wouldn't mind, in the least, getting on board. However, you'd need to be in a position to turn those ideas into "rules". I'm not in that position. Are you? That said, I follow rules every day that other people, people I don't know, have made...whether or not I agree with them. Do they think twice about how I'll react? Not on your life. Welcome to America. BTW, how do you react to those rules?

I sincerely hope tomorrow is a better day for you. Rock on...

[timkona]

Re: Unsettled Economy &amp; The Bailout

No need to regulate a companies dealings with consumers.

And no need to bail out companies who fail to pick the right consumers.

Both of you are right.

[Leo Lakio]

Re: Unsettled Economy &amp; The Bailout

I don't why I care so much about this, because my financial house is in order.

Because you have worked consciously to get it in order, and fear the strong likelihood that your world will be adversely affected by this issue. By "your world," I mean not only your own financial house, but those of your family and friends. You care because you have compassion for the well-being of others.

[matapule]

Re: Unsettled Economy &amp; The Bailout

Then don't. Who asked you?

You have made my point. The governement doesn't give me the choice (yes, I am pro choice) whether to participate in the bailout or not. I have to participate. And it is only a matter of time when the credit card companies will ask for a similar bailout. For those of you who have any money in the stock of companies who provide credit card financing, GET YOUR MONEY OUT NOW. Those companies are going to tank too.

Keeping people like you off my back, or anyone else's.

Ah, now I understand, it is okay for you to get on other people's back but you don't anyone on your back. The classic Internet bully.

[matapule]

Re: Unsettled Economy &amp; The Bailout

No need to regulate a companies dealings with consumers.

Tim, that is what got us into this mess, lack of regulation of companies that deal with consumers.

And no need to bail out companies who fail to pick the right consumers.

But that is exactly what is happening right now, bailing out companies that extended credit to consumers who were not credit worthy for the amount they loaned.

Why should the taxpayer have to bailout out a company because they were stupid? If the government is going to bailout people because they do stupid things, then I will be first in line.

[turtlegirl]

Re: Unsettled Economy &amp; The Bailout

Oh, barf!!! This is soooo retarded!! Not only are we bailing out bad businesses, we're bailing out Hollywood, too!! Someone please tell me that this is a joke! This is repulsive!

"Hollywood would get a little unexpected boost from the proposed $700-billion bailout of the nation's financial system.

The bill wending its way through Congress would provide tax breaks worth more than $470 million over the next decade for movie and TV producers that shoot in the U.S."

Story here and here.

Why in the world should movie and tv production be included in this bailout bill?

STOP THE PORK!!!