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To: reaper who wrote (163523)	5/2/2002 11:56:50 PM
From: LLCF	Respond to of 436258

Yep, buying pooots tomorrow, the only American thing to do! DAK

To: reaper who wrote (163523)	5/3/2002 2:01:08 AM
From: clochard	Read Replies (1) \| Respond to of 436258

They guys can't go BK because they are hedged against increasing interest rates with synthetic derivative positions. You see, they have all their ducks in a row.. -g- <<I am going to sing a special little song when Household, Americredit, Metris and the rest of the "subprime" lenders go BK. Friggin' unbelievable that our society puts up with these scumbags preying on people that don't know any better and stealing what little chance at wealth building they have.>>

To: reaper who wrote (163523)	5/3/2002 7:53:22 AM
From: Oblomov	Read Replies (2) \| Respond to of 436258

> I frankly have no qualms about legislating that you can't charge over X percent for a loan. > You can NEVER get out from under that burden. Then these loans will never get made. Or, if the government forces a bank to lend (effectively nationalizing the banking system), then good credit borrowers would be forced to pay a much higher rate of interest to effectively fund bad credit and low income borrowers. Is that the type of financial system that you consider ideal? These type of lenders have ALWAYS existed - but previously only as pawn shops or loan sharks. What is new is the securitization of subprime debt. This has allowed the subprime lenders to at least hedge their risk until now. But, we will see how effective the hedge is when it is tested...