An inflatable gorilla beckoned from the roof of Don Brown Chevrolet in St. Louis, servers doled out free bowls of pasta and a salesman urged potential customers to "come on up under the canopy and put your hands on" a new set of wheels.
1. Comment by Jeffrey H. (flibber)— October 13,2008 @ 2:09AM
Ratings:-4+19
Why couldn't the car lot extend credit themselves? This may become necessary to lubricate business. Owners of real estate may also have to take back morgages to sell their homes, provided they own them outright of course.
3. Comment by Joan T. (roaxle)— October 13,2008 @ 2:41AM
Ratings:-5+34
I wonder if this is a generational thing. My father left the Oklahoma farm to work for the CCC. My mother's immigrant father became a well-to-do businessman in Chicago who, as she tells it, lost it all. (I suspect a bit of hyperbole there; they ate lots of potatoes but never went hungry, and their retirement home was very middle class.)
Growing up, I watched them pay cash for everything, invest sweat equity in the house they built when I was two, and hoard jars and boxes and cans of coins. When I wanted a hi-fi stereo as a teen, they made me save until I had enough to buy it myself.
Those lessons served me well. We boomers didn't do such a good job with our own kids, I guess. Now life will teach the lessons we didn't.
5. Comment by mike o. (thud68)— October 13,2008 @ 4:46AM
Ratings:-1+28
...I see it, I want it, and I want it now no matter what seems to be the battle cry of todays younger generation, and they wonder why we are in a financial crisis...
6. Comment by Woody H. (cwbystache)— October 13,2008 @ 4:53AM
Ratings:-6+33
Which came first, the overcharging dentist, or the poor sap who makes one tenth per hour for the services he gives somebody like that dentist, and who has no alternative but to put that crown on a credit card some bank dangled in front of him?
9. Comment by mount c. (mounty)— October 13,2008 @ 5:35AM
Ratings:-1+25
I'll believe it when I stop getting all those credit card offers in the mail and the clerks at every store stop asking me if I want to open a store credit card.
11. Comment by Evel K. (EvilMike)— October 13,2008 @ 6:18AM
Ratings:-11+17
No one should forget that this whole notion of "easy credit" and the troubles that have mushroomed out of it was born out of government tampering with the marketplace. In an effort to extend the "American Dream" to people who hadn't quite earned their way there, politicians put the squeeze on lenders with the threat of lawsuits and years in courts, if they didin't start opening up lines of credit to poor risk applicants. Whether this was done just to curry favor and buy votes or was done out of a real desire to try and make life better for more people, I'm willing to let others decide, but be clear on this, this can be traced directly to a policy decision made in the 1990's, aided and abetted by the justice dept.
There are folks in Washington who really need to be investigated.
12. Comment by Kathy S. (4593)— October 13,2008 @ 6:29AM
Ratings:-8+13
Woody H. #6.. ".. the overcharging dentist.. "
Think that might have something to do with the proliferation of greedy lawyers filing lawsuits? OB-GYN has been hit hard too, there are less med students willing to go into the field, birthing costs have gone thru the roof.
Mal-practice insurance is what is driving many dentists, MDs and other 'health proffessionals' to increase charges and fees. Why anyone would vote to put a lawyer in the White House us a mystery to me?
13. Comment by ralfie 1. (ralfie12)— October 13,2008 @ 6:31AM
Ratings:-9+15
Credit availability should be race neutral. Credit score should rule the day again. Thanks a lot Frank and Dodd, and Schumer. We are coming for you. Legally and politically. Pack your stuff. You have helped destroy many jobs, and financial institutions.
14. Comment by J T. (Tuttle)— October 13,2008 @ 6:35AM
Ratings:-1+19
The tightening of credit will force American families to cut their spending, mindful of their current paychecks instead of borrowing against future ones, said Frank Badillo, senior economist with TNS Retail Forward, a consulting and market research firm in Columbus, Ohio.
15. Comment by John D. (Lazyandshiftless)— October 13,2008 @ 6:50AM
Ratings:-0+23
I have very good credit and every day I still get 2-3 "junk mail" offers for credit cards. They never make it into my house, since my recycle bin is in the garage. They get torn into halves and tossed in the recycle bin, along with the postcards asking me to vote for Prop. 200 (no way!) and junk mail from AARP, the American Legion, etc. I bet 20 percent of my recycled material consists of torn-up junk mail.
16. Comment by Mary W. (Mary W)— October 13,2008 @ 6:54AM
Ratings:-1+19
#15 To stop those offers for credit cards, I have taken all the junk inside, written on the form "remove from mail list", stuffed it all back into the postage paid reply envelope and sent it off. I get very few of them now.
17. Comment by Bill B. (#4485)— October 13,2008 @ 7:03AM
Ratings:-1+14
The $1000.00 was up front profit, just like the interest that you pay on a car.. all of it is front loaded! That means they the car seller makes his money first before the pricipal amounts on the car loan come down eveny a penny. That means at the end of the first year of a five year loan.. you've made all the payments on time.. but not one cent has come off the price of car in this loan.. only the interest has been paid.. Land Sharks as a name comes to mind. You are then upside down in the loan just as the folks who are in over their heads with home loans now.. just a smaller scale of exactly the same thing.
18. Comment by Eric O. (ArizonaDude)— October 13,2008 @ 7:05AM
Ratings:-1+17
Cheap credit will be back shortly. People made too much money that way. They are whining now because the gravy train stopped, but think of all the cardboard houses that got sold for 240k when it cost 50 to build. All that money is still floating around out there and it wants more.
19. Comment by bob f. (fischer76)— October 13,2008 @ 7:06AM
Ratings:-1+14
As someone who lends money occasionally on real estate, I couldn't believe it when I spoke with this young guy last week.
He wanted to buy 2 houses, not great deals, however what was funny was that he thought he could get private money, at 12-15%, and not have to put down much.
How much? Well he had $2,000 total!!
He wanted purchase price of $125,000 + $44,000 fix up.
When I asked him how much skin he had in the game he told me $1,000 for each house.
I politely informed him that maybe 2 years ago he could get this, however with a declining market 30% down was required.
To me it seems he just got carlton sheets OPM course.
21. Comment by Ralph A. (6505)— October 13,2008 @ 7:36AM
Ratings:-0+17
Tighten of credit may be good for us. people are going in debt on credit cards. That is one reason our country is in bad shape, along with our country huge debt too. People need to quit buying for awhile and get their debt down.
23. Comment by Felix L. (El Beto Guero)— October 13,2008 @ 8:03AM
Ratings:-1+16
Credit isn't so easy to get anymore. Well, now that the horse has run off, let's fix that gate that wouldn't stay shut. Anyone else think this is about three or four years too late?
24. Comment by Kathy S. (4593)— October 13,2008 @ 8:14AM
Ratings:-0+11
Ralph A. #21.. ".. people are going in debt on credit cards. "
Some people have NO idea how much debt they are in.. When my daughter went to purchase her first car, she found out she was already $3.5 million in debt. Her identity was being used by eight other people. How much of this 'debt' is due to stolen ID and who gave the thieves credit in the first place? How did they get her SS# and BD?
The $3.5 was for homes as well as luxury vehicles and many maxed out CCs.
25. Comment by Tex H. (Tex Hooper)— October 13,2008 @ 8:54AM
Ratings:-4+10
Funny comment #5.
It isn't today's younger generation that has made this economic situation a long time coming. It is the boomers. They've known all along they were living both as individuals and as a nation on deficit spending. They knew the politicians they elected every cycle were only looking out for themselves and would sell the masses any short term promises to stay in office. The boomers have known all along that there is no money in the social security fund -- but have never made a peep because they figure they will be taken care of. The boomers didn't want a war in Vietnam because they might get drafted. But now that they are older the government is taking out loans to let future generations for the war, the boomers sit idly by and say, "well shucks, I don't like it but I support the troops." The boomers have perpetuated the two-party system that is much to blame for the lack of accountability in Congress and will be one of the reasons for America's difficulties in get back on track in the coming decades.
Youth has always had a Me-Now desire. But somehow, your parents taught you to do without when you were all young. But you would be damned if you weren't going to get your way once the banks said you could afford all the things you knew you couldn't. And then when your kids had a Me-Now attitude -- well shuck, looking around at many of my peers -- you went ahead and told them, "sure, no problem."
How dare the boomers try to place blame anywhere but squarely on themselves. In one generation, this group of people (as a mass, not a collection on individuals) has managed to turn the USA from the envy of the world to a cheap, consuming nation that can't even handle its own pocketbook.
28. Comment by Sam L. (samlig)— October 13,2008 @ 10:51AM
Ratings:-1+12
"'I think we're undergoing a fundamental shift from living on borrowed money to one where living within your means, saving and investing for the future, comes back into vogue,' said Greg McBride, senior analyst at Bankrate.com."
Living within one's means and saving money has always been 'vogue'. It isn't glamorous or pretty or shiny, but it creates financial stability for individuals, families, communities, and even [gasp] nations. Many of us do it because we see the utter foolishness and stupidity of living beyond one's means.
Bankrate.com just lost all credibility with that statement by their senior analyst.
30. Comment by Michael P. (powersmf)— October 13,2008 @ 11:03AM
Ratings:-1+14
Credit should not be "given", it is not a right. If you dont qualify, you dont qualify. It is up to the individual to make himself/herself credit worthy. Why is that so hard to understand!!!
We have become entiltlement society, we expect things that we dont want to work for
31. Comment by T . (#2388)— October 13,2008 @ 11:16AM
Ratings:-2+6
I think poster #6 has a really valid point.
Many people out there have been hit with unexpected expenses that the household budget can't cover; car repair costs, medical/dental, unplanned home repair expenses, etc.
I think it's easy to assume that a lot of our credit woes have been caused by unrestrained spending at Best Buy or the mall, but it's not that black and white.
I've read somewhere that many bankrupcies are caused by stratospheric medical bills incurred by a lengthy illness or accident for people with no health care coverage. This is more a symptom of the horrible wages and health care benefits paid by some employers than it is someone's failure to save up enough to offset $25,000+ in medical bills.
32. Comment by Matt H. (voyage2k)— October 13,2008 @ 11:26AM
Ratings:-8+2
31. Oh, but if you're like certain posters, then you should be able to not only be able to pay for your medical expenses in cash, but have enough material goods to sell to raise even more cash...if it's needed.
33. Comment by Tucson R. (TucsonRat)— October 13,2008 @ 12:21PM
Ratings:-0+9
Can't get a car without a down payment! The nerve -- make a person actually put some of their own money into it.
You really have to wonder that if this guy can't afford a $1,000 down payment, can he afford the insurance? Probably not. He'll get his car and his one month of insurance. Then the rest of us better hope he doesn't stop off for a few beers after work.
His livlihood is at stake and it seems like he hasn't bothered to save a penny for a car. And tell me, what kind of wages can a steam fitter make in St Louis?
34. Comment by Tucson R. (TucsonRat)— October 13,2008 @ 12:30PM
Ratings:-0+7
*31. Comment by T . — I think poster #6 has a really valid point.
Many people out there have been hit with unexpected expenses that the household budget can't cover; car repair costs, medical/dental, unplanned home repair expenses, etc.*
I beg to disagree. None of your above examples are "unexpected." These expenses are ALWAYS expected. You have to know your car will break, something will happen to the house, that you might get sick or hurt. It's that thing called LIFE. It happens.
To not plan for the "unexpected" is ludicrous.
And as for the over-charging dentist -- #6, you could shop around for a lower-cost dentist. I find it surprising that your dentist doesn't set up a payment plan -- most do for regular patients. You have been seeing the dentist regularly, right?
35. Comment by T . (#2388)— October 13,2008 @ 1:06PM
Ratings:-0+5
That's okay-I disagree with your opinion as well.
Yes, life does happen. I'm talking about the times a vehicle needs above and beyond repair work that hasn't been budgeted for, the cancer someone didn't plan to get, you know-the big stuff.
How is someone supposed to plan for the possibility that they might be diagnosed with cancer if health insurance isn't offered by their employer?
36. Comment by francis w. (#6565)— October 13,2008 @ 1:31PM
Ratings:-0+6
What the article is trying to say is "redlining wasn't so bad after all. Requiring people to actually have a good credit history before giving them a loan used to be the normal way to do business until the government stepped in and coerced them into making high risk loans or face the wrath of the federal justice department."
37. Comment by Tucson R. (TucsonRat)— October 13,2008 @ 1:37PM
Ratings:-1+4
#35 I see. Let's blame it on the employer. I guess the employer was holding a gun to the employee's head to take the job.
Ignorance really isn't bliss, is it. There's this thing called catastrophic health insurance and is quite affordable. You don't need a boss to pay for it. I had it between jobs. It just covers the BIG stuff -- just in case.
Cars break, people get sick -- the cars get totaled and people get cancer. Again, they may be surprising, but they are not surprises.
Hey, you know what else? We're all going to die. Go ahead, start planning now for it.
38. Comment by Tucson R. (TucsonRat)— October 13,2008 @ 2:09PM
Ratings:-0+6
#35 my apologies if I seem insensitive to either you or a loved one who may be battling cancer. It's a struggle, and the last thing you want to worry about is money or getting the care you need. I hope others will take your words as a cautionary tale, because once you get such a tough diagnosis, the health care system really starts to show all its warts.
Personally, I don't believe healthcare should be tied to one's employment (or a loved one's employment), but that seems how our system works for most -- at least until aged 62.
You also have to know that I tend to look at all the possible outcomes in my life. Depending on which side of the family I look at -- I will live to be 100 or will be dead by 50 (I'm almost to 50). I don't know if I need to max out on longterm care insurance and retirement savings or if I should max out on life insurance and do everything NOW because tomorrow may never come.
May you and your loved ones beat this disease and live a long time to continue the discussion.
40. Comment by Bill B. (#4485)— October 13,2008 @ 5:27PM
Ratings:-1+8
I got my first home on the GI Bill, moved in for $650.00 total! This on a $75,000.00 three bedroom, two bath, every room full at the time. No doubt the GI Bill was great! I hope all these repo'd home are first offered to our vets coming home at super low prices, with great terms! Its the perfect addition to the GI bill if you ask me.
42. Comment by S V. (laranchera)— October 13,2008 @ 6:59PM
Ratings:-0+7
I agree with #2.
What I especially resent is now having to pay for this bailout on account of greed and those living beyond their means while I drove a clunker for years to stay within my budget.
43. Comment by Reggie R. (scrappy2)— October 13,2008 @ 7:11PM
Ratings:-0+3
25. Comment by Tex H. (Tex Hooper) — October 13,2008 @ 8:54AM
Ratings: -4 +8
--------------------------------------------------------------------------------------------
Tex;Get a life and cover your own self.
I was born in 1949,served in Vietnam(dec1969-dec1970)My home has been paid for since 1990,I have my own business,married 27 years,raised five children,one operates his own business,two currently in the USMC and two still in school.
I was rasied by a single mother and know what hard times are.
The problem with todays generation which includes my children,is most,not all have been provided everything either by their parents or some government program.
Kids in high school driving new cars,teachers saying kids shouldn't have to work they should spend their time studying.
You can tell the attitude of young people today by who they are voting for,the one making the most monetary promises.
I've never seen the point of sending my money to Washington so they could buy something for me.Because when they get finished with it I find I'm better off to buy it myself including crowns for my teeth.
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Days of easy credit coming to an end
An inflatable gorilla beckoned from the roof of Don Brown Chevrolet in St. Louis, servers doled out free bowls of pasta and a salesman urged potential customers to "come on up under the canopy and put your hands on" a new set of wheels.Why couldn't the car lot extend credit themselves? This may become necessary to lubricate business. Owners of real estate may also have to take back morgages to sell their homes, provided they own them outright of course.
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For some of us, it never went out.
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I wonder if this is a generational thing. My father left the Oklahoma farm to work for the CCC. My mother's immigrant father became a well-to-do businessman in Chicago who, as she tells it, lost it all. (I suspect a bit of hyperbole there; they ate lots of potatoes but never went hungry, and their retirement home was very middle class.)
Growing up, I watched them pay cash for everything, invest sweat equity in the house they built when I was two, and hoard jars and boxes and cans of coins. When I wanted a hi-fi stereo as a teen, they made me save until I had enough to buy it myself.
Those lessons served me well. We boomers didn't do such a good job with our own kids, I guess. Now life will teach the lessons we didn't.
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#2, Joan: Once again you said it better than I.
Couldn't agree more...
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...I see it, I want it, and I want it now no matter what seems to be the battle cry of todays younger generation, and they wonder why we are in a financial crisis...
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Which came first, the overcharging dentist, or the poor sap who makes one tenth per hour for the services he gives somebody like that dentist, and who has no alternative but to put that crown on a credit card some bank dangled in front of him?
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#6 Boy does that comment ring a bell,you must visit the same guy I do.
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Here is what I tell myself, "If it is going to be outdated or worthless before you pay it off, you don't need it." Works for me.
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I'll believe it when I stop getting all those credit card offers in the mail and the clerks at every store stop asking me if I want to open a store credit card.
And frankly, I'll be glad.
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Wouldn't it be nice if sense became "common sense" again?
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No one should forget that this whole notion of "easy credit" and the troubles that have mushroomed out of it was born out of government tampering with the marketplace. In an effort to extend the "American Dream" to people who hadn't quite earned their way there, politicians put the squeeze on lenders with the threat of lawsuits and years in courts, if they didin't start opening up lines of credit to poor risk applicants. Whether this was done just to curry favor and buy votes or was done out of a real desire to try and make life better for more people, I'm willing to let others decide, but be clear on this, this can be traced directly to a policy decision made in the 1990's, aided and abetted by the justice dept.
There are folks in Washington who really need to be investigated.
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Woody H. #6.. ".. the overcharging dentist.. "
Think that might have something to do with the proliferation of greedy lawyers filing lawsuits? OB-GYN has been hit hard too, there are less med students willing to go into the field, birthing costs have gone thru the roof.
Mal-practice insurance is what is driving many dentists, MDs and other 'health proffessionals' to increase charges and fees. Why anyone would vote to put a lawyer in the White House us a mystery to me?
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Credit availability should be race neutral. Credit score should rule the day again. Thanks a lot Frank and Dodd, and Schumer. We are coming for you. Legally and politically. Pack your stuff. You have helped destroy many jobs, and financial institutions.
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The tightening of credit will force American families to cut their spending, mindful of their current paychecks instead of borrowing against future ones, said Frank Badillo, senior economist with TNS Retail Forward, a consulting and market research firm in Columbus, Ohio.
In the long run, this will be a good thing.
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I have very good credit and every day I still get 2-3 "junk mail" offers for credit cards. They never make it into my house, since my recycle bin is in the garage. They get torn into halves and tossed in the recycle bin, along with the postcards asking me to vote for Prop. 200 (no way!) and junk mail from AARP, the American Legion, etc. I bet 20 percent of my recycled material consists of torn-up junk mail.
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#15 To stop those offers for credit cards, I have taken all the junk inside, written on the form "remove from mail list", stuffed it all back into the postage paid reply envelope and sent it off. I get very few of them now.
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The $1000.00 was up front profit, just like the interest that you pay on a car.. all of it is front loaded! That means they the car seller makes his money first before the pricipal amounts on the car loan come down eveny a penny. That means at the end of the first year of a five year loan.. you've made all the payments on time.. but not one cent has come off the price of car in this loan.. only the interest has been paid.. Land Sharks as a name comes to mind. You are then upside down in the loan just as the folks who are in over their heads with home loans now.. just a smaller scale of exactly the same thing.
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Cheap credit will be back shortly. People made too much money that way. They are whining now because the gravy train stopped, but think of all the cardboard houses that got sold for 240k when it cost 50 to build. All that money is still floating around out there and it wants more.
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As someone who lends money occasionally on real estate, I couldn't believe it when I spoke with this young guy last week.
He wanted to buy 2 houses, not great deals, however what was funny was that he thought he could get private money, at 12-15%, and not have to put down much.
How much? Well he had $2,000 total!!
He wanted purchase price of $125,000 + $44,000 fix up.
When I asked him how much skin he had in the game he told me $1,000 for each house.
I politely informed him that maybe 2 years ago he could get this, however with a declining market 30% down was required.
To me it seems he just got carlton sheets OPM course.
Not anymore!!
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I think this should be called preditory lending will be ending.
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Tighten of credit may be good for us. people are going in debt on credit cards. That is one reason our country is in bad shape, along with our country huge debt too. People need to quit buying for awhile and get their debt down.
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I am glad that I am not burdened by debt. There are few things in life that I would borrow money for.
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Credit isn't so easy to get anymore. Well, now that the horse has run off, let's fix that gate that wouldn't stay shut. Anyone else think this is about three or four years too late?
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Ralph A. #21.. ".. people are going in debt on credit cards. "
Some people have NO idea how much debt they are in.. When my daughter went to purchase her first car, she found out she was already $3.5 million in debt. Her identity was being used by eight other people. How much of this 'debt' is due to stolen ID and who gave the thieves credit in the first place? How did they get her SS# and BD?
The $3.5 was for homes as well as luxury vehicles and many maxed out CCs.
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Funny comment #5.
It isn't today's younger generation that has made this economic situation a long time coming. It is the boomers. They've known all along they were living both as individuals and as a nation on deficit spending. They knew the politicians they elected every cycle were only looking out for themselves and would sell the masses any short term promises to stay in office. The boomers have known all along that there is no money in the social security fund -- but have never made a peep because they figure they will be taken care of. The boomers didn't want a war in Vietnam because they might get drafted. But now that they are older the government is taking out loans to let future generations for the war, the boomers sit idly by and say, "well shucks, I don't like it but I support the troops." The boomers have perpetuated the two-party system that is much to blame for the lack of accountability in Congress and will be one of the reasons for America's difficulties in get back on track in the coming decades.
Youth has always had a Me-Now desire. But somehow, your parents taught you to do without when you were all young. But you would be damned if you weren't going to get your way once the banks said you could afford all the things you knew you couldn't. And then when your kids had a Me-Now attitude -- well shuck, looking around at many of my peers -- you went ahead and told them, "sure, no problem."
How dare the boomers try to place blame anywhere but squarely on themselves. In one generation, this group of people (as a mass, not a collection on individuals) has managed to turn the USA from the envy of the world to a cheap, consuming nation that can't even handle its own pocketbook.
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Is nobody going to comment on the fact that the poster child in the story didn't have $1000 to his name, but expected to buy a new car?
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Does this mean I can now stop feeling un-American for not living beyond my means?
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"'I think we're undergoing a fundamental shift from living on borrowed money to one where living within your means, saving and investing for the future, comes back into vogue,' said Greg McBride, senior analyst at Bankrate.com."
Living within one's means and saving money has always been 'vogue'. It isn't glamorous or pretty or shiny, but it creates financial stability for individuals, families, communities, and even [gasp] nations. Many of us do it because we see the utter foolishness and stupidity of living beyond one's means.
Bankrate.com just lost all credibility with that statement by their senior analyst.
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He was repeatedly turned down for the car loan because he couldn't come up with the $1000 down payment; well DUH!
How is it that anyone should expect to drive away with a car, with $0 invested?
I find it hard to have compassion for that person...
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Credit should not be "given", it is not a right. If you dont qualify, you dont qualify. It is up to the individual to make himself/herself credit worthy. Why is that so hard to understand!!!
We have become entiltlement society, we expect things that we dont want to work for
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I think poster #6 has a really valid point.
Many people out there have been hit with unexpected expenses that the household budget can't cover; car repair costs, medical/dental, unplanned home repair expenses, etc.
I think it's easy to assume that a lot of our credit woes have been caused by unrestrained spending at Best Buy or the mall, but it's not that black and white.
I've read somewhere that many bankrupcies are caused by stratospheric medical bills incurred by a lengthy illness or accident for people with no health care coverage. This is more a symptom of the horrible wages and health care benefits paid by some employers than it is someone's failure to save up enough to offset $25,000+ in medical bills.
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31. Oh, but if you're like certain posters, then you should be able to not only be able to pay for your medical expenses in cash, but have enough material goods to sell to raise even more cash...if it's needed.
Wake me when those folks return to reality. ;)
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Can't get a car without a down payment! The nerve -- make a person actually put some of their own money into it.
You really have to wonder that if this guy can't afford a $1,000 down payment, can he afford the insurance? Probably not. He'll get his car and his one month of insurance. Then the rest of us better hope he doesn't stop off for a few beers after work.
His livlihood is at stake and it seems like he hasn't bothered to save a penny for a car. And tell me, what kind of wages can a steam fitter make in St Louis?
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*31. Comment by T . — I think poster #6 has a really valid point.
Many people out there have been hit with unexpected expenses that the household budget can't cover; car repair costs, medical/dental, unplanned home repair expenses, etc.*
I beg to disagree. None of your above examples are "unexpected." These expenses are ALWAYS expected. You have to know your car will break, something will happen to the house, that you might get sick or hurt. It's that thing called LIFE. It happens.
To not plan for the "unexpected" is ludicrous.
And as for the over-charging dentist -- #6, you could shop around for a lower-cost dentist. I find it surprising that your dentist doesn't set up a payment plan -- most do for regular patients. You have been seeing the dentist regularly, right?
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That's okay-I disagree with your opinion as well.
Yes, life does happen. I'm talking about the times a vehicle needs above and beyond repair work that hasn't been budgeted for, the cancer someone didn't plan to get, you know-the big stuff.
How is someone supposed to plan for the possibility that they might be diagnosed with cancer if health insurance isn't offered by their employer?
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What the article is trying to say is "redlining wasn't so bad after all. Requiring people to actually have a good credit history before giving them a loan used to be the normal way to do business until the government stepped in and coerced them into making high risk loans or face the wrath of the federal justice department."
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#35 I see. Let's blame it on the employer. I guess the employer was holding a gun to the employee's head to take the job.
Ignorance really isn't bliss, is it. There's this thing called catastrophic health insurance and is quite affordable. You don't need a boss to pay for it. I had it between jobs. It just covers the BIG stuff -- just in case.
Cars break, people get sick -- the cars get totaled and people get cancer. Again, they may be surprising, but they are not surprises.
Hey, you know what else? We're all going to die. Go ahead, start planning now for it.
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#35 my apologies if I seem insensitive to either you or a loved one who may be battling cancer. It's a struggle, and the last thing you want to worry about is money or getting the care you need. I hope others will take your words as a cautionary tale, because once you get such a tough diagnosis, the health care system really starts to show all its warts.
Personally, I don't believe healthcare should be tied to one's employment (or a loved one's employment), but that seems how our system works for most -- at least until aged 62.
You also have to know that I tend to look at all the possible outcomes in my life. Depending on which side of the family I look at -- I will live to be 100 or will be dead by 50 (I'm almost to 50). I don't know if I need to max out on longterm care insurance and retirement savings or if I should max out on life insurance and do everything NOW because tomorrow may never come.
May you and your loved ones beat this disease and live a long time to continue the discussion.
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Sometimes you do not need 1000
I was able to purchase a new Truck in june of 07, with marginal credit and no money down
15 months later its paid for on time each and every month (along with the full coverage insurence).
Not everyone has the ability to put money down, and even some of us are not deadbeats either
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I got my first home on the GI Bill, moved in for $650.00 total! This on a $75,000.00 three bedroom, two bath, every room full at the time. No doubt the GI Bill was great! I hope all these repo'd home are first offered to our vets coming home at super low prices, with great terms! Its the perfect addition to the GI bill if you ask me.
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I have some concern about the government getting involved in the banks. How soon before easy credit returns!
Implications of Government Actions
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I agree with #2.
What I especially resent is now having to pay for this bailout on account of greed and those living beyond their means while I drove a clunker for years to stay within my budget.
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25. Comment by Tex H. (Tex Hooper) — October 13,2008 @ 8:54AM
Ratings: -4 +8
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Tex;Get a life and cover your own self.
I was born in 1949,served in Vietnam(dec1969-dec1970)My home has been paid for since 1990,I have my own business,married 27 years,raised five children,one operates his own business,two currently in the USMC and two still in school.
I was rasied by a single mother and know what hard times are.
The problem with todays generation which includes my children,is most,not all have been provided everything either by their parents or some government program.
Kids in high school driving new cars,teachers saying kids shouldn't have to work they should spend their time studying.
You can tell the attitude of young people today by who they are voting for,the one making the most monetary promises.
I've never seen the point of sending my money to Washington so they could buy something for me.Because when they get finished with it I find I'm better off to buy it myself including crowns for my teeth.
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Having a tooth pulled is about a tenth of the cost of acrown or you could go to Mexico.Crowns without root canals are about $150.
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What I find funny is that this guy went to 10 places with the same answer.
Usually they get it after 2 or 3 times.
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Now if we can only get the government to live within its means, a balance budget amendment would be nice.
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