Comments | strawberrychaos: This is a good thing

strawberrychaos

This is a good thing

Sep 29, 2008 12:26

House defeats $700B financial markets bailoutA really good thing. It's pretty much illegal to pay off a credit card debt with another credit card from what I understand and yet, that's exactly what this bailout would be. And I've read from some experts that, despite the scare tactics the Bush admin is trying to use, it's not even close to likely ( Read more... )

Comments 7

ninjabob42 September 29 2008, 19:26:05 UTC

It isnt illeagal to pay off credit card debt with another credit card..

It is called a balance transfer....

strawberrychaos September 29 2008, 19:48:20 UTC

No. It really depends on the amount of the payoff. In many cases, it's illegal.

ninjabob42 September 29 2008, 20:01:40 UTC

I have doubts, for if it were then they couldnt legally offer it

strawberrychaos September 29 2008, 20:02:40 UTC

You're kidding, right?

I have three words for you: toxic home loans.

This is a bad thing trwig September 30 2008, 05:14:30 UTC

Wow. Very bad. Here's hoping the doom talk is bigger than expected. But I think the lack of bank lending to banks, we are going to see a serious lack of liquidity, and the availability of loans are going to be all but non-existent. It will suck for many people.

Re: This is a bad thing strawberrychaos September 30 2008, 12:34:50 UTC

No, a bailout is not good. It's rash and reactionary. Riding the market and actually letting ourselves go through a recession is the best route, while bringing back Congressional-mandated limitations on corporations that expired in 1992. Historically speaking, the House did the right thing.

Re: This is a bad thing strawberrychaos September 30 2008, 12:36:23 UTC

And yes... the doom talk is much bigger than purported in the mainstream press. Check out the site http://www.bloomberg.com/ for real financial news... not sensationalist crap.