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payday loan sharks and auto dealers escape, making for more RePo episodes.
somebody always gets special treatment.
By JIM KUHNHENN and ALAN FRAM, Associated Press Writers Jim Kuhnhenn And Alan Fram, Associated Press Writers – 30 mins ago
WASHINGTON – The toughest financial regulations since the Great Depression are headed for final votes in Congress next week, covering everything from debit card swipes at Starbucks to the most complex securities, in an election-year salve for public anger over the Wall Street risk-taking that cost millions their jobs, homes and nest eggs.
more.....
http://news.yahoo.com/s/ap/us_financ...FuY2lhbG92ZQ--
Last edited by Blake; 06-25-2010 at 04:26 PM.
payday loan sharks and auto dealers escape, making for more RePo episodes.
somebody always gets special treatment.
We're not supposed to run AP stories, y'all.
AP too?
ok, I cut off the bulk.
Who else, Blake?
SA Express News threatened Kori/LJ if anyone posted full EN articles around here.
Thanks, Blake
I wouldn't call it a triumph until it clears the Senate. At 2000 pages theres no telling what got hidden in there that will come to light in the next couple of days. All it will take is a few democrats getting cold feet. They already walked the plank on health care and may not be inclined to follow again.
guess this'll be the last time I try to post a full article from anywhere.Thanks, Blake
Just wait till credit cards start getting cancelled in mass on less than A+ credit borrowers. Take the reward out of the risk equation and banks will do what they have to do to survive. The most visible result of this will be that it will be even harder for the ordinary person to get credit/loans.
Attempting to enact a few, feeble, watered down restrictions on business in the wake an epochal market adjustment triggered by irresponsibly overleveraged risk in certain asset categories( and other "infiduciary" and otherwise fraudulent activities) -- is not walking the plank. Far from it. But you might be right about it not passing eventually.
Business will swallow its medicine and cry all the way to the bank about the horrible new rules. They're a pitiful joke.
I don't see any reason why it should. Kori and Timvp will let us know if we're getting them in trouble.
Did you notice that in 2000 pages there wasn't one mention of Fannie May or Freddie Mac?
hypocritical s...
As I recall, credit card companies used not to extend very much credit to people who don't reliably pay. That sure changed, huh?
I'm not saying thats not a good thing. I'm just saying the guys that constantly carry a balance and pay the minimum every month are about to get a big shock if the government cuts the CC companies fees/interest. The risk/reward ratio won't justify keeping the account open.
I'm not sure thats something you really want to do in a fragile economic recovery. Sometimes the best of intentions can cause unanticipated bad results.
Plus, they supposedly are cutting merchant fees. You guys that pay your bills and use credit cards with rewards/points/airline miles are about to get ed. You can kiss that goodbye. Those rewards are paid from merchant fees.
Personally I like that part of the deal. Cut my merchant fees 100 basic points and all of you rewards guys LOL. I'll take the money I save and pay cash for airline tickets.
I see what you mean. The reform could make high-risk debtors more unattractive to CC companies.
Wasn't it kind of ed up they intentionally chose risky clients with the certain foreknowledge of charging them miles of fees and fines and pushing up their rates usuriously?
Seems to me we had willing buyers and sellers. I'm not saying that the sellers weren't more legally/financially savvy but the buyers wanted it NOW. They got it.
Now they won't.
I knew the fiscally sound world as it should be was coming to an end when I saw "Rent a Tire" centers going up all over town.
Are any of the liberals, in here, the least bit bothered that the Democrats have passed yet another bill that they don't know what it does until it's passed?
Seriously.
Since there are several articles saying what is in the bill, it's probably safe to say you're wrong.
Seriously.
did you read the 2000 pages
House, Senate leaders finalize details of sweeping financial overhaul
I'm reminded..."It's a great moment. I'm proud to have been here," said a teary-eyed Sen. Christopher J. Dodd (D-Conn.), who as chairman of the Senate Banking Committee led the effort in the Senate. "No one will know until this is actually in place how it works. But we believe we've done something that has been needed for a long time."
Pelosi Remarks at the 2010 Legislative Conference for National Association of Counties
So, $1trillion dollars and a couple of hundred bureaucracies later and there is still not one single American receiving Obamacare.“But we have to pass the bill so that you can find out what is in it, away from the fog of the controversy."
Sorry, I think they should know what legislation is going to do before they pass it. God know, the rest of us were telling them Obamacare would be a fiasco.
lol reading comprehension
1 trillion dollars have been spent already?
How did that prediction of yours workout when you claimed the day after the healthcare bill passed that the healthcare companies stocks would nosedive?
how did that workout?
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