Raineyb
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Mon Apr-27-09 10:46 AM
Response to Reply #129 |
| 130. They're getting it for significantly cheaper than the |
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18-30% they're charging on their credit cards.
And frankly, the interest rate is so low it's practically free. They'd make profit on a 4% interest loan.
Regards
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| -That's it? Obama wants clear CC bills and no "sudden" rate increases? |
cwcwmack |
Apr-23-09 02:35 PM |
#0 |
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"Retroactive rate ceilings?" |
onetwo |
Apr-23-09 02:44 PM |
#1 |
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Deleted message |
Name removed |
Apr-23-09 02:46 PM |
#3 |
| -
how sweet... |
cwcwmack |
Apr-23-09 02:49 PM |
#5 |
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Credit cards are a luxury. |
onetwo |
Apr-23-09 02:59 PM |
#6 |
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For many they were not a luxury, you musy know that |
jbnow |
Apr-23-09 04:33 PM |
#24 |
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According to what barometer? |
SanchoPanza |
Apr-23-09 11:35 PM |
#50 |
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Yes, to pay for medical expenses, food, utility bills, clothing for your children |
LostinVA |
Apr-24-09 12:23 PM |
#73 |
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Credit cards USED TO BE a luxury |
Raineyb |
Apr-24-09 01:35 PM |
#81 |
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jeez, I will remember to tell that to a friend who uses it to pay for |
roguevalley |
Apr-24-09 04:03 PM |
#87 |
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Umm, people are using CC for things like |
krawhitham |
Apr-25-09 09:01 PM |
#108 |
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Yes...but |
ecstatic |
Apr-28-09 08:22 AM |
#142 |
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You could also define it as usury rather then luxury, and I think that would be more accurate |
digidigido |
Apr-28-09 12:30 AM |
#137 |
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spoken like a true capitalist... n/t |
cwcwmack |
Apr-23-09 02:47 PM |
#4 |
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Properly regulated capitalism is a beautiful thing. |
onetwo |
Apr-23-09 03:07 PM |
#7 |
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LOL "properly regulated capitalism" |
leftstreet |
Apr-23-09 06:07 PM |
#34 |
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LOL! |
onetwo |
Apr-23-09 11:04 PM |
#44 |
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and what, pray tell, do you suggest? redistribution? |
mkultra |
Apr-24-09 11:28 AM |
#67 |
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How about some serious government intervention/regulation |
rpannier |
Apr-24-09 10:19 PM |
#98 |
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our predatory capitalist system isn't working very well either |
avaistheone1 |
Apr-26-09 01:19 AM |
#110 |
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I'm old and I've never seen properly regulated capitalism. |
roguevalley |
Apr-24-09 04:04 PM |
#89 |
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Like America itself, it is still a work-in-progress. The fact of the matter is that |
onetwo |
Apr-26-09 01:17 PM |
#125 |
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Do you think credit cards should be set at 0%? |
Renew Deal |
Apr-23-09 04:08 PM |
#16 |
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Banks are getting taxpayer money for 0%. How dare they charge |
avaistheone1 |
Apr-26-09 01:21 AM |
#111 |
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Banks are not getting the bailout money for free. n/t |
raebrek |
Apr-27-09 10:16 AM |
#129 |
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They're getting it for significantly cheaper than the |
Raineyb |
Apr-27-09 10:46 AM |
#130 |
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Yes |
raebrek |
Apr-28-09 07:49 AM |
#138 |
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horzeshit... |
gmoney |
Apr-23-09 04:47 PM |
#29 |
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For the most part, prime banks become sharks when promises are broken... |
onetwo |
Apr-23-09 05:39 PM |
#32 |
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Well, evidently you've had a reliable income stream your whole life. |
gmoney |
Apr-23-09 06:07 PM |
#33 |
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You're concerned with the penalties. |
onetwo |
Apr-24-09 12:07 AM |
#52 |
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banks can fuck themselves. they are usurious and people are |
roguevalley |
Apr-24-09 04:06 PM |
#90 |
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That assumes you have the potential to do so |
quakerboy |
Apr-24-09 01:36 AM |
#55 |
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Yet here we are with c/c companies changing their rates and rules |
rpannier |
Apr-23-09 11:24 PM |
#47 |
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yeah but the tooth fairy set the price with magic fairy dust |
izzybeans |
Apr-24-09 03:12 PM |
#86 |
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Damned toothfairy |
rpannier |
Apr-24-09 06:39 PM |
#95 |
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Banks shouldn't rely on the US taxpayer to guarantee their bad bets. |
Romulox |
Apr-24-09 08:58 AM |
#62 |
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Not true -- price gouging is against the law, and usury used to be |
LostinVA |
Apr-24-09 12:21 PM |
#72 |
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Legally, the government can step in to fight price gouging only during emergencies (eg Katrina) |
onetwo |
Apr-26-09 01:12 PM |
#124 |
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You just broke my bull shit detector. |
avaistheone1 |
Apr-26-09 01:30 AM |
#114 |
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Exactly how did I break it? |
onetwo |
Apr-26-09 01:18 PM |
#126 |
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ok |
cwcwmack |
Apr-23-09 02:46 PM |
#2 |
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one shouldn't have a $999 LCD TV if you can't pay for it cash |
asphalt.jungle |
Apr-23-09 03:10 PM |
#8 |
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Where do you buy a new CRT TV? |
Leftist Agitator |
Apr-23-09 11:26 PM |
#48 |
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i see them in bjs all the time. |
asphalt.jungle |
Apr-24-09 12:25 AM |
#53 |
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How needs a fricken tv anyway |
mkultra |
Apr-24-09 11:31 AM |
#69 |
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some people didn't have credit card problems until the FUCKING |
roguevalley |
Apr-24-09 04:08 PM |
#91 |
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well, far be it for me to come down on the less fortunate |
mkultra |
Apr-24-09 09:40 PM |
#97 |
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so then credit cards just shouldnt exist |
quakerboy |
Apr-24-09 01:41 AM |
#56 |
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So you don't see whining about credit card terms when you CHOOSE to buy luxury items -- |
asphalt.jungle |
Apr-24-09 09:57 AM |
#64 |
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I find the assumption that that is what credit cards have been used for |
quakerboy |
Apr-24-09 12:35 PM |
#77 |
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other scenarios weren't discussed in the post i originally responded to |
asphalt.jungle |
Apr-24-09 12:49 PM |
#79 |
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Who are you to tell peope what kind of TV they should or should not have? |
Freddie Stubbs |
Apr-24-09 11:29 AM |
#68 |
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anyone who must listen to credit card debtors bitch, thats who. |
mkultra |
Apr-24-09 11:32 AM |
#70 |
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if they are going to bitch about how unfair it is that it takes them years to pay it off |
asphalt.jungle |
Apr-24-09 12:31 PM |
#76 |
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Irrelevant ... |
Trajan |
Apr-25-09 06:52 PM |
#102 |
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The problem with arbitrary ceilings is that they are arbitrary. Low ceilings can hurt many of us... |
onetwo |
Apr-23-09 03:29 PM |
#10 |
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And a pony! I WANT A PONY! |
MercutioATC |
Apr-23-09 03:48 PM |
#12 |
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We used to have ceilings they were covered by usury laws. |
Raineyb |
Apr-23-09 04:02 PM |
#14 |
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It's set by state law, but there ARE usury laws... |
MercutioATC |
Apr-23-09 04:09 PM |
#18 |
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There need to be federal usury laws that apply to banks, not just credit unions. (nt) |
w4rma |
Apr-23-09 06:52 PM |
#40 |
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. |
mkultra |
Apr-24-09 11:33 AM |
#71 |
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You're wrong. State usury laws don't mean anything to the credit card companies |
Raineyb |
Apr-24-09 10:13 AM |
#65 |
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wow |
cwcwmack |
Apr-24-09 10:36 AM |
#66 |
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Thanks for that smack down |
Trajan |
Apr-25-09 07:02 PM |
#103 |
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It is more than a bit disconcerting |
Raineyb |
Apr-26-09 02:53 AM |
#117 |
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I agree with this. The usury laws that credit unions have to abide by, banks should have to also. |
w4rma |
Apr-23-09 06:51 PM |
#39 |
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I want mine to be named "Tucker" I asked President Obama for it already. n/t |
vaberella |
Apr-23-09 04:14 PM |
#20 |
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Then the raised rates should not be on people who |
jbnow |
Apr-23-09 04:42 PM |
#27 |
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As per Skinner, "I want a pony" is now against DU rules |
LostinVA |
Apr-24-09 12:27 PM |
#75 |
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It's a good thing that all I want is a tiny horsie! |
Silent3 |
Apr-24-09 02:25 PM |
#83 |
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Yes -- he said it in his big GD thread |
LostinVA |
Apr-24-09 02:45 PM |
#85 |
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That is not the understanding I got from the thread. n/t |
lumberjack_jeff |
Apr-27-09 10:49 AM |
#132 |
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if people are such a risk cut them off and let them pay the balance |
roguevalley |
Apr-24-09 04:11 PM |
#92 |
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Total payment ceiling = higher minimum payments |
high density |
Apr-23-09 03:49 PM |
#13 |
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The next outrage, coming right up... |
alcibiades_mystery |
Apr-23-09 03:11 PM |
#9 |
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What took it so long? |
FrenchieCat |
Apr-23-09 03:33 PM |
#11 |
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I was just about to say. ~sigh~ n/t |
vaberella |
Apr-23-09 04:11 PM |
#19 |
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Yup... |
jberryhill |
Apr-23-09 06:56 PM |
#41 |
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15 BILLION DOLLARS |
cwcwmack |
Apr-23-09 04:03 PM |
#15 |
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Why are you so angry at people that pay late? |
Renew Deal |
Apr-23-09 04:09 PM |
#17 |
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True, irresponsible borrowers shouldn't get sympathy. However... |
onetwo |
Apr-23-09 04:25 PM |
#23 |
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I think it's wrong. |
cwcwmack |
Apr-23-09 04:33 PM |
#25 |
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Right on |
mvd |
Apr-23-09 04:35 PM |
#26 |
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Yes and no |
joeglow3 |
Apr-23-09 04:44 PM |
#28 |
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I had to fight two late charges, |
Autumn |
Apr-23-09 04:14 PM |
#21 |
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It's a good start. Hopefully not all Obama pushes for |
mvd |
Apr-23-09 04:25 PM |
#22 |
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Imagine if there were a ceiling on auto insurance premiums. |
onetwo |
Apr-23-09 05:16 PM |
#31 |
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I don't agree at all |
mvd |
Apr-23-09 06:41 PM |
#37 |
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If you already have credit and your rates are sky-high, a ceiling sounds like a splendid idea. |
onetwo |
Apr-23-09 11:55 PM |
#51 |
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Hmmm.. sometimes the banks will make you think there's a good deal when there isn't |
mvd |
Apr-24-09 01:08 AM |
#54 |
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Not too long ago 25% interest would be loan sharking. |
The Wielding Truth |
Apr-24-09 04:18 AM |
#61 |
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While your economic logic makes sense, it's a question of the size of each effect |
Hippo_Tron |
Apr-26-09 04:55 AM |
#118 |
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You're right. HOWEVER. (2 points) |
onetwo |
Apr-27-09 01:51 PM |
#135 |
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When limited to the simple supply and demand model price floors and ceilings are inefficient |
Hippo_Tron |
Apr-28-09 12:11 AM |
#136 |
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Same tired old disclosure platitudes |
depakid |
Apr-23-09 05:03 PM |
#30 |
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I am beginning to find the moniker of "New" Democrat very repugnant |
avaistheone1 |
Apr-26-09 01:42 AM |
#115 |
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A reasonable rate ceiling would be great |
andym |
Apr-23-09 06:16 PM |
#35 |
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Retroactive anything is going to be off the table. Retroactive punitive taxes, retroactive pay |
EmilyAnne |
Apr-23-09 06:40 PM |
#36 |
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Congress wants a cap, so that's leverage for better behavior. Still need to make a |
MarjorieG |
Apr-23-09 06:45 PM |
#38 |
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hopefully |
cwcwmack |
Apr-23-09 07:12 PM |
#42 |
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Actually, Obama DID tell them to quit the sudden rate increases |
HopeOverFear |
Apr-23-09 07:29 PM |
#43 |
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Those are two of the main complaints. When they raise rates, they do it so |
Honeycombe8 |
Apr-23-09 11:21 PM |
#45 |
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How about a link? I'm sure I can provide one, but you should, seeing |
babylonsister |
Apr-23-09 11:23 PM |
#46 |
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Do you read your credit card junk mail? I received notices from 2 card |
NoSheep |
Apr-23-09 11:32 PM |
#49 |
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I think Obama should make everything free. If he doesn't, he has betrayed us. |
BlooInBloo |
Apr-24-09 02:59 AM |
#57 |
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How about looking to the prevailing practices prior to deregulation and widespread abuses? |
depakid |
Apr-24-09 03:37 AM |
#58 |
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Ah. I didn't realize there were price ceilings prior to deregulation. Thanks for the info! |
BlooInBloo |
Apr-24-09 03:41 AM |
#59 |
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There were caps to interest- and you didn't see a whole host of exhorbitant late fees |
depakid |
Apr-24-09 03:57 AM |
#60 |
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Yes, that is why we used to have Usury laws to protect the public |
avaistheone1 |
Apr-26-09 01:25 AM |
#112 |
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One fails to realize many things |
Bluenorthwest |
Apr-24-09 09:16 AM |
#63 |
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Very dissappinting -- at the very least, anti-usury laws should have been passed |
LostinVA |
Apr-24-09 12:24 PM |
#74 |
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Agreed - but I never expected Obama to suggest anything so bold. |
Political Heretic |
Apr-24-09 12:36 PM |
#78 |
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True & true! |
LostinVA |
Apr-24-09 01:50 PM |
#82 |
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Hope I'm not naive here, but maybe if he proposed.. |
mvd |
Apr-24-09 02:33 PM |
#84 |
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banks are cutting their own throats making credit debt too hard to |
roguevalley |
Apr-24-09 04:15 PM |
#93 |
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I agree with you |
mvd |
Apr-24-09 04:27 PM |
#94 |
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getting smaller amounts over a reasonable time is better than the defaults |
roguevalley |
Apr-25-09 12:05 AM |
#100 |
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Well at least Obama did say the Wall St bankers were naughty. |
avaistheone1 |
Apr-26-09 01:28 AM |
#113 |
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"Bold" isn't the word I would use. "Sensible" perhaps |
Lorien |
Apr-28-09 08:01 AM |
#139 |
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Deleted message |
Name removed |
Apr-24-09 12:50 PM |
#80 |
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Now we'll know exactly how we're getting reamed. |
rucky |
Apr-24-09 04:03 PM |
#88 |
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how f'ing useless |
nickinSTL |
Apr-24-09 07:30 PM |
#96 |
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Oh, by all means, lets give free money to everyone in debt. yeah, right, spend my money on it. |
NYC_SKP |
Apr-24-09 10:33 PM |
#99 |
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Since when is considering a proposal insufficient to solve a problem considered whining? |
Raineyb |
Apr-25-09 06:25 PM |
#101 |
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. |
NYC_SKP |
Apr-25-09 07:33 PM |
#104 |
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As to the business practices of the credit card companies your complaints are |
Raineyb |
Apr-25-09 08:02 PM |
#105 |
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And I'm not paying for other peoples' mistakes. I am willing to bust the CC companies, however, |
NYC_SKP |
Apr-25-09 08:13 PM |
#106 |
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You're already paying for other people's mistakes |
Raineyb |
Apr-26-09 02:46 AM |
#116 |
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We'll see how long you can keep it up if you lose your job. |
Hello_Kitty |
Apr-25-09 08:49 PM |
#107 |
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Can we wait until we know for sure what was discussed in this meeting... |
Tarheel_Dem |
Apr-26-09 01:16 AM |
#109 |
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Pony? |
cwcwmack |
Apr-27-09 01:17 PM |
#134 |
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We certainly learned our lesson after going bankrupt. Of course, we mainly used the cards |
GreenPartyVoter |
Apr-26-09 08:22 AM |
#122 |
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It is a tough and an awful situation. |
NYC_SKP |
Apr-26-09 10:06 AM |
#123 |
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With financial institutions being one of the top five donors to Obama's campaign |
MadHound |
Apr-26-09 07:24 AM |
#119 |
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What happened to personal responsibility? |
empyreanisles |
Apr-26-09 07:29 AM |
#120 |
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What does this have to do with the credit card companies business practices? |
Raineyb |
Apr-26-09 06:30 PM |
#127 |
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Call me a capitalist, but plenty of people opt out of credit cards |
ecstatic |
Apr-28-09 08:17 AM |
#140 |
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What does that have to do with usuary laws and predatory practices? |
LostinVA |
Apr-27-09 12:30 PM |
#133 |
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exactly. I agree with you and I actually had a situation with my |
ecstatic |
Apr-28-09 08:18 AM |
#141 |
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Cap them at 15% |
harun |
Apr-26-09 07:30 AM |
#121 |
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When there are a lot of typical right wing responses in support of the credit card |
Skwmom |
Apr-27-09 09:23 AM |
#128 |
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It certainly does. |
Raineyb |
Apr-27-09 10:47 AM |
#131 |
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well, they should be able to have rate increases. not 30% though. |
ejpoeta |
Apr-28-09 08:44 AM |
#143 |
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