Posted by Bret4207 on March 02, 2008 at 09:04:44 from (207.42.20.130):
In Reply to: Haves and Haves Nots posted by Tradititonal Farmer on March 02, 2008 at 01:04:04:
All true. What a lot of folks forget is the "Tech Bubble" of the 90's was financed on credit cards. I recall when no one I knew had a credit card. You couldn't get one unless you HAD money. In a way it was more like todays debit cards. The banks figured out they could make more by issuing cards and collecting the interest. They started handing them out and folks, me included, bought into the easy credit idea. Thats why we're where we are today. The Gov't isn't trying to help out homeowners by bailing out the sub-prime loans, it's trying to help THE BANKS.
We have gotten exactly what we deserve. But I suppose the good news, from what I can find out as long as I keep making some sort of payment on my loans all they can do is down grade my credit rating, (BIG DEAL I have everything I need), and send me nasty mail. I'll keep working to try and dig myself out of this hole.
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