America's credit crisis PART ONE taught us nothing. Instead of trying to rein in individual fiscal responsibility both the Bush administration and Pres. Elect Obama's "Band of Merry Men" want to free up credit markets so individuals can continue to borrow money. What should we expect from an outgoing administration that was clueless on fiscal restraint and the incoming one that says the deficit be damned we've got to bailout everyone?

In my opinion individuals in need of bailout assistance should be required to complete a personal financial management program, Crown Financial is an example of one such program. Individuals should be taught the importance of not living beyond their means and using credit to finance a lifestyle they can never pay for. Once an individual has completed a personal financial management program before they get any assistance they should be required to sign a contract freezing their credit lines at current levels and agreeing to payoff outstanding debt following the guidelines taught in the financial management program. If they take assistance they should not be allowed to get any new credit for 5 years, similar to old bankruptcy law.

Don't Reward irresponsible BONEHEADS with interest rates better than people with FICO scores above 800 can get. There is only so much credit we can extend to individuals and the current crisis shows were are near that limit.

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Present Day Government, along with RobertN, truly and honestly believe that a Socialist, if not Communistic Approach to Fiscal Matters, both Personal and Governmental, need to be ran by the Government as THEY see fit.

In essence, the way Present Day Government and Present Day Generations of young people have either knowingly fed into this trough or have been "slowly boiled into it" by using Time Attrition, to eek it into the Generations born after 1975-80, still lends the same outcome and product, which is Fiscal unable and handicapped citizens.

Government actually perpetuates Fiscal Failure by basing expenditures on "Speculated Incoming Revenues" and when this Revenues Fall Short, unlike Corporations and Individuals, the Government simply passes Law that gives it power to Print More Money and Lend Its Self more of that Value Deflated money and have come to Instruct and Instill into Americans, that it is OK to "Over Spend and Live Way Beyond Your Means".

When married 20+ Year Olds, who have families and have been taught how to Understand and Balance their Checking Accounts, STILL do not take the time to Balance and Rebalance their Checking Accounts according to the Checks that are Out There Waiting to be Cashed and not go off the Number you see on your Bank Statement, yet, they still foolishly use the "Present Balance" they see on their Monthly Checking Account Statement - - - they then cause them selves to Over Spend and Live Beyond Their Means and Funds .... but unlike the Government that TAUGHT them that this is OK Living, these Individual Checking Account Holders have to pay hundreds of dollars in NSF Fees or are prosecuted in the very Same Government Courts of Law that taught them, by Example, that this is an OK Practice !!!!

Why do we Not HOLD our Government to same exact standard we hold our NSF Check Writers Too ???

Schools are so busy teaching Children how to Tolerant of EVERYTHING, they have all but forgotten Reading, 'Riting, and 'Rithmatic [sic]. (The '3' R's)

As long as little Johnny and Janie know that it is OK to be Gay and Married to a Same Sex Partner and that Being a Fanatical Radical Fundamentalist Religious Nut is to be Tolerated, then they have passed and are Ready for College .... because what is College after all ..... College is simply "School Where You Actually Practice What You Learned in 12 Years of Lower Education" ... College is a Microcosmic Earth and a Surreal World filled with more Ideologies than Proper and Necessary Curricula.

It is like in my State ... we have no Auto Theft Law .... if you Steal a Car, you are in Violation of "Unauthorized Use of a Movable" ... WTF does that mean ??? It means anything you can move can be considered Theft and it just waters down Stealing Cars to Stealing a the same status as Stealing a Pepsi from a store cooler or Stealing a Single Rock from your Neighbors Driveway.

I can actually go to my Justice-of-the-Peace and Swear out an Affidavit & Warrant for Theft of a Single Rock from my Driveway and the Courts MUST Hear the Case ... it is just Wasteful and FOOLISH.

We Reap What We Sow and We Get What We Ask For and We Do What We Are Taught.

No More, No Less.

If Government can do it and get away with it, then so can I .... BUT, we can't kill Terrorist who are trying to Murder Us in a Hotel Take-Over, because the Government is Imprisoning the President and putting him to Death for going to Legal War to Protect and Secure the Nation, JUST LIKE HE SWORE TO DO ON JANUARY 20th WITH HIS RIGHT HAND RAISED and the LEFT HAND ON THE BIBLE.

No wonder our society is fooked up in the head ... it is being run by the William Ayers and Ward Churchill's of the World.

What a shame ............

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Tripster Wrote:.


When married 20+ Year Olds, who have families and have been taught how to Understand and Balance their Checking Accounts, STILL do not take the time to Balance and Rebalance their Checking Accounts according to the Checks that are Out There Waiting to be Cashed and not go off the Number you see on your Bank Statement, yet, they still foolishly use the "Present Balance" they see on their Monthly Checking Account Statement - - - they then cause them selves to Over Spend and Live Beyond Their Means and Funds .... but unlike the Government that TAUGHT them that this is OK Living, these Individual Checking Account Holders have to pay hundreds of dollars in NSF Fees or are prosecuted in the very Same Government Courts of Law that taught them, by Example, that this is an OK Practice !!!!

Why do we Not HOLD our Government to same exact standard we hold our NSF Check Writers Too ???

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I did a study for one of the large banks and found that customers that pay lots of NSF fees are as profitable as customers who maintain high balances, even more profitable than customers than maintain the minimum account standards to avoid monthly fees and never incur an NSF (prior to the study I would have considered those who truly manage their accounts to be the perfect customers).

THE NC Herd Fan Wrote:America's credit crisis PART ONE taught us nothing. Instead of trying to rein in individual fiscal responsibility both the Bush administration and Pres. Elect Obama's "Band of Merry Men" want to free up credit markets so individuals can continue to borrow money. What should we expect from an outgoing administration that was clueless on fiscal restraint and the incoming one that says the deficit be damned we've got to bailout everyone?

In my opinion individuals in need of bailout assistance should be required to complete a personal financial management program, Crown Financial is an example of one such program. Individuals should be taught the importance of not living beyond their means and using credit to finance a lifestyle they can never pay for. Once an individual has completed a personal financial management program before they get any assistance they should be required to sign a contract freezing their credit lines at current levels and agreeing to payoff outstanding debt following the guidelines taught in the financial management program. If they take assistance they should not be allowed to get any new credit for 5 years, similar to old bankruptcy law.

Don't Reward irresponsible BONEHEADS with interest rates better than people with FICO scores above 800 can get. There is only so much credit we can extend to individuals and the current crisis shows were are near that limit.

i like that idea.

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Shoot no .... all these Companies that Act Like they are Angry or Complaining about you being NSF or Late on your Monthly Payments are Laughing all the way to the Bank with "this unearned Free Money" that they had to do NOTHING for.

I have always said that it is a Con & a Sham to add Late Fees and other cost onto a Persons Bill or Monthly Payment ... if they couldn't Pay the Standard Amount on Time, they Surely Can't Afford to Pay Attached Fees that are simply outrageous in present times.

And I agree, it may help to deter the 'Occasional Lapser of Payments' and cause them to rethink & restructure their Budget, but for the Poor who can not afford what they have gotten them selves into, would it not be better to NOT GIVE THEM MORE and MORE Credit or More Chances to NSF Checks every month ?? We teach them one way and treat them another for using what they have been taught by example.

Maybe it's just me, but I would think either Teaching or Forcing People to be Fiscally responsible is the Better Road Traveled.

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THE NC Herd Fan Wrote:In my opinion individuals in need of bailout assistance should be required to complete a personal financial management program, Crown Financial is an example of one such program. Individuals should be taught the importance of not living beyond their means and using credit to finance a lifestyle they can never pay for.

For the last 10 years or so the housing market in So Cal was booming - I mean 5000 home housing tracts were popping up everywhere. You buy a house for $400,000 and 3 years later it's worth $600,000. When you walked into a housing sales office they offered primo deals and the mindset at the time was to buy something with the intent of selling it at a huge profit a few years later and this was thought process was boosted by the sales people. To a lot of people it all made sense because we've been told all our lives that real estate is probably one of the safest investments a person could make.

The big problem with all of this is that people got fooled, didn't read 3 inches of loan docs and took the salesperson's word for everything, the banks were working with the developers and they turned blind eyes in order to get the houses sold and eventually there were more houses than people to live in them. Then all of a sudden ARM loans soar and people got hosed. So, IMO, being cavalier and greedy is what made the local mess worse than the national mess.

smn1256 Wrote:being cavalier and greedy is what made the local mess worse than the national mess.

As was the same problem for the S&L debacle. circa 1985
As was the same problem for Enron, WorldCom ilk, circa 2001

All we learned was how to do it larger and the bad guys to insulate themselves from prosecution. If fact we are giving all the bailout money to the same people who scammed the system for their own greed. Go Figure, they are the smartest ones in the room.