Does Anyone feel like Bailing

[sugarpop]

Originally Posted by tw

Interest rates are ridiculously low. You may not realize that interest rates this low for this long was almost never seen....

Not with credit cards. Rates are going up.

[tw]

Originally Posted by sugarpop

Not with credit cards. Rates are going up.

And you have not yet seen how high they may go. 22% interest rates were typical in the 1970s. The rates are going up and are still low.

[sugarpop]

Originally Posted by tw

And you have not yet seen how high they may go. 22% interest rates were typical in the 1970s. The rates are going up and are still low.

Some people have higher rates than that. Much higher. I know one person whose rate went up to 49.5%. WTF?

[sugarpop]

Merc, some jobs have been created and have already started. Maybe not a lot yet, but don't act is if none have, because that isn't so. MANY have been saved, and more will start up as time goes on.

classic, the terminology was changed because the job loss grew much faster than anyone predicted, so saving jobs became synonomous with creating jobs.

Redux, there hasn't been much transparency yet, especially with regard to the banks. And speaking of banks, I think this administration isn't putting the regulations we had back in place NOT because of republicans, but because they are too buddy-buddy with banks and Wall Street execs. Just look at the double standard that is being used for those who shower before work, and those who shower after. They should not be afraid of Wall Street execs, they should be afraid of the people. But you know, politicians will always favor where the money flows.

tw, banks AREN"T lending like they should be, or refinancing mortgages, and they are not being transparent AT ALL about the money they've received. I wish Obama would hang a few of those Wall Street execs, like they did Wagoner. Maybe then they would get the message. So far, I don't think they have gotten anything, except their own way.

[TheMercenary]

Originally Posted by sugarpop

Merc, some jobs have been created and have already started. Maybe not a lot yet, but don't act is if none have, because that isn't so. MANY have been saved, and more will start up as time goes on.

When you compare the amount of money spent by congress to "stimulate the economy" and look at how many jobs have been directly created for the money spent, it is criminal. Where are the "millions of jobs"?

[sugarpop]

Originally Posted by TheMercenary

When you compare the amount of money spent by congress to "stimulate the economy" and look at how many jobs have been directly created for the money spent, it is criminal. Where are the "millions of jobs"?

I'm starting to agree with you, not about the stimulus, but the money being spent on banks and fiancial institutions.

[classicman]

Originally Posted by Redux

In the case of the infrastructure funds, as an example, nearly all the funds go through the states.

I know engineers in two states who told me what I posted earlier. They are and have been directly involved in getting these projects started. Just passin along what those involved told me. You may now do with it as you will. Kinda like statistics.

[piercehawkeye45]

Originally Posted by classicman

I know engineers in two states who told me what I posted earlier. They are and have been directly involved in getting these projects started. Just passin along what those involved told me. You may now do with it as you will. Kinda like statistics.

I thought the money came through subsidies? I don't know what you posted earlier so it might be the same, might not.

Originally Posted by sugarpop

Redux.....speaking of banks, I think this administration isn't putting the regulations we had back in place NOT because of republicans, but because they are too buddy-buddy with banks and Wall Street execs. Just look at the double standard that is being used for those who shower before work, and those who shower after. They should not be afraid of Wall Street execs, they should be afraid of the people. But you know, politicians will always favor where the money flows.

I understand the anger at the banks.

I dont understand the suggestion that Obama isnt putting new regs in place on banks/financial services because of his contributions from "buddies in the industry"....when in fact, he proposed sweeping regulations last week despite the opposition of those buddies.

In order for the regs to be adopted, they will need to be approved in legislation by Congress and the Republicans are certainly not jumping on board, to say the least.

Originally Posted by sugarpop

No I didn't, but this pisses me off. "Senate Democrats are making a new stab at limiting credit card interest rates -- fueling bankers’ threats that the measure will further reduce consumers’ access to credit..."

So we give them billions of dollars and they hold us hostage with our own money. Fucking bankers. I wish they would all die.

IMO, the bill voted out of Dodd's committee yesterday (on a party line vote) to ban abusive credit practices and enhance consumer disclosures, Credit Card Accountability Responsibility and Disclosure Act of 2009 is a good first step.

Again, its hard for me to understand how this is Dodd sucking up to his contributors (as some here suggest repeatedly), when they oppose it.

[TheMercenary]

Originally Posted by sugarpop

Not with credit cards. Rates are going up.

Did you see this in the news today?

http://latimesblogs.latimes.com/mone...kers-thre.html


http://money.cnn.com/news/newsfeeds/...0_FORTUNE5.htm

http://www.infozine.com/news/stories...iew/sid/35049/

[sugarpop]

Originally Posted by TheMercenary

Did you see this in the news today?

http://latimesblogs.latimes.com/mone...kers-thre.html


http://money.cnn.com/news/newsfeeds/...0_FORTUNE5.htm

http://www.infozine.com/news/stories...iew/sid/35049/

No I didn't, but this pisses me off. "Senate Democrats are making a new stab at limiting credit card interest rates -- fueling bankers’ threats that the measure will further reduce consumers’ access to credit..."

So we give them billions of dollars and they hold us hostage with our own money. Fucking bankers. I wish they would all die.