Tuesday, March 15, 2005
Robert Scheer
The Bankruptcy Bill: a Tutorial in GreedLesson No. 1 -- Campaign cash is worth more than family values by Robert Scheer
Robert starts off with question and answer:
Question: What is the difference between a loan shark and a banker?
Answer: Not much. The former uses hired thugs to enforce repayment from the debtors; the latter employs the feds as paid muscle.
...This subject is not an academic one for young Americans, because after high school they will become prime targets for predatory lenders, plastic-peddlers who just love to offer easy lines of credit to kids without jobs or even degrees. Once a student has that first shopping spree at the college bookstore, he or she is often off and running in a cycle of unsecured debt that can last a lifetime...
Absolutely. When I was in college, there were ads for credit cards all over the Student Union. It is so easy to get into debt. I paid for all my college education on credit cards. I should have taken out student loans. I figured I was working and could make the credit card payments monthly and would have it paid sooner. I did have it paid sooner. The problem was that my credit limits were so high, a friend had some great ideas for a company that were also put on my credit card. The company didn't fly and I ended up with huge balances that need to be paid.
Robert starts off with question and answer:
Question: What is the difference between a loan shark and a banker?
Answer: Not much. The former uses hired thugs to enforce repayment from the debtors; the latter employs the feds as paid muscle.
...This subject is not an academic one for young Americans, because after high school they will become prime targets for predatory lenders, plastic-peddlers who just love to offer easy lines of credit to kids without jobs or even degrees. Once a student has that first shopping spree at the college bookstore, he or she is often off and running in a cycle of unsecured debt that can last a lifetime...
Absolutely. When I was in college, there were ads for credit cards all over the Student Union. It is so easy to get into debt. I paid for all my college education on credit cards. I should have taken out student loans. I figured I was working and could make the credit card payments monthly and would have it paid sooner. I did have it paid sooner. The problem was that my credit limits were so high, a friend had some great ideas for a company that were also put on my credit card. The company didn't fly and I ended up with huge balances that need to be paid.
Comments:
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I took those student loans; of course I didn't go to college until I was in my late 20's and it was in the late 90's. I owe Uncle Sam a BMW.
Oh, yeah, and now you have to try and pay off that BMW. I always said I paid for my dentist's daughters to go to college, with all the money I paid him for teeth decay:)
OMFG! I got in to make a comment! Only took like 20 minutes, today, too, so it's improving. :)
In case lightning doesn't strike twice today, thanks for the link to the molecularly-deconstructed felis cattus... and, I offered my assistance in downloading a local copy of the video (at my bloggie), since I won't have room to keep it there for more than a week or two, by my estimate.
Don't feel bad, btw -- Modblog took a dump on its ccde last night, and it's actin' all hosey, today, too.
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In case lightning doesn't strike twice today, thanks for the link to the molecularly-deconstructed felis cattus... and, I offered my assistance in downloading a local copy of the video (at my bloggie), since I won't have room to keep it there for more than a week or two, by my estimate.
Don't feel bad, btw -- Modblog took a dump on its ccde last night, and it's actin' all hosey, today, too.
.
# posted by 
: Thursday, March 17, 2005 4:54:00 PM
: Thursday, March 17, 2005 4:54:00 PM
Oh! And I did have a relevant credit card comment, too...
Found out there's a joint in Gnashvegas that will file your Chapter 7 for $39, which, though I'm not proud of it, I will be doing tomorrow. What can I say? 21 months of joblessness, loss of home, savings dwindling... I's fooked, really.
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Found out there's a joint in Gnashvegas that will file your Chapter 7 for $39, which, though I'm not proud of it, I will be doing tomorrow. What can I say? 21 months of joblessness, loss of home, savings dwindling... I's fooked, really.
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# posted by : Thursday, March 17, 2005 4:57:00 PM
: Thursday, March 17, 2005 4:57:00 PM
when i went to college in 1960 no one was giving us credit cards. i was saved frm my own excesses. fast forward to the 90's and i bailed out my oldest from dumb credit card debt. bad move. kid never repaid. out $7 k.
dread pirate roberts
dread pirate roberts
Credit cards sure have made a lot of people unhappy. Of course, it also allowed people to get what they want NOW! No waiting. I'm afraid we've become that type of society. We have very little patience.
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