This Thursday the House of Representatives passed a bill that would limit the amount of interest a credit card company would be able to charge a consumer. If the Democrats in the house want to really help the American people they would pass a law mandating CREDIT EDUCATION in our schools, not dictating to adults what penalties to expect when they charge too much and do not pay their bills. ...<< MORE >>
This Thursday the House of Representatives passed a bill that would limit the amount of interest a credit card company would be able to charge a consumer.
If the Democrats in the house want to really help the American people they would pass a law mandating CREDIT EDUCATION in our schools, not dictating to adults what penalties to expect when they charge too much and do not pay their bills.
...<< MORE >>
I for one am not a fan of bailing out any company for any reason. One only has to look at the auto makers, and the airlines for proof it does not work.
No, letting the free market devour its own weak, and idiotic seems a better way to go. I am tickled to find a Nobel Prize winning economist, and Newt Gingrich agree with me as well. Plus 700 BILLION will not cover the cost of what has happened; take that to the bank my friends. By the way, if they are wrong about that number, it is even worse than doing nothing.
It is also humorous to listen to how many people “saw this coming”. I would congratulate them if they had shared the information with anyone. It sure seemed like a surprise to the Treasury Secretary last night on 60 minutes. (If that interview did not scare you NOTHING will) I was fired from my job for pointing this out and my friends avoided the subject at all cost of being bored.
Listen, we are in for some very hard times “bailout” or not, get your credit in order now. Not that you will be doing any borrowing anytime soon, but there are many other reasons to have an excellent credit rating detailed in my book. Plus, if you think I.D Theft was bad before, buckle up. (Check out the blog on I.D.Theft for a recent horror story, I will update it later. It is an amazing story).
I will be speaking at my church in the next week or so, and am invited to speak at another in the coming weeks. I am very happy that Pastors are this concerned about the financial well being of their congregations, and am providing copies of the book to those that attend.
I will plead with those groups to secure their credit, and the reports of their children. I will ask them to limit the inquiries, and shop for the best companies to do business with. (Might not be the lowest rate; buy the book find out why) I am urging you to do the same. We need to be looking out for one another, that is what Americans do best. Share your thoughts…
If you have not done so check out our new YouTube Channel. Judging by the comments and book sales, people in 38 countries are enjoying this information.
Either way the vote goes; there will be a very large number of people whose candidate will lose. Business owners and consumers on both sides of the political aisle will feel real apprehension that their interests will not be served.
Republicans will feel dissatisfaction with Barack Obama as their leader, and Democrats, will be dissatisfied with John McCain.
The one thing that will not change continues to be the horrendous toll the Mortgage and Financial Industry have had on the nation’s economy. This is a train wreck that will not be stopped by any election.
When either of these gentlemen takes office in January they will inherit the worst financial disaster in recorded history, bar none. Assuming that both of these candidates know the severity of the collapse is presumptuous to say the least. Neither John McCain, nor his opponent Barack Obama have shown any indication that they are aware of, or have any plan for, the coming ramifications of the next phase of the disaster.
Plugging a leaky dam with one’s finger does nothing to stop the rising water on the other side. This “Bailout” as it is called, has not addressed the remaining loans that will re-cast sooner than later. How much more will we be asked for, and how will the markets react at that time?
One idea that is gaining traction is imposing a toll on every U.S. Highway to pay for the current damage, and “Bailout” those who are still in foreclosure. I guess this would be considered good news to those able to hang on until then, but for those that were not affected by this crisis….not so much. The idea here is that each area would pay for it’s citizen’s portion of the damage.
This disaster has done something that no natural disaster has ever done, that is making this number of people virtually homeless. The number of victims from both Ike and Katrina combined, pales in comparison to the magnitude of this man made disaster. By the way, we were warned YEARS ago that this was coming and our leaders let it happen. Actually it gets worse… Several of those that sounded the earliest warnings were ridiculed, and silenced.
An excellent video on YouTube showing Rep Maxine Waters and Rep Barney Frank, defending what was going on. Not to mention the painful ridiculing of an investigator testifying before Congress under oath about what was to come, by Rep Gregory Weeks.
Plenty of blame in this case to go around to be sure, gutless Republicans in both houses stood almost silent and watched this happen. Worse still was watching the industry I served in for over 15 years; sell its soul and self destruct under horrible leadership.
Upon reflection however I only mourn for those whose dreams were smashed. For reasons I have already mentioned I find the consumer blameless. I still do not think taking advantage of those whose dreams of homeownership overrode their bank account should erode the responsibility of the elected leadership to protect them from what they did not know. I thought that was what government was for.
I have written a book, as part of my "Credit Control Kit" that has become very popular with those wanting to protect thier credit, and understand the system we live under. People in 38 Countries so far have purchased the book, and free extras. They have been wonderful in thier praise and congratulations, and I am humbled. Even more are enjoying my free videos.