Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: CalculatedRisk who wrote (4002)	4/8/2004 10:10:16 PM
From: Tommaso	Respond to of 116555

Yes standards are absurdly low for credit. When I first opened a savings account, I had to give 30 days' notice to withdraw my own savings. When I got a mortgage, I was closely examined and had to come up with 40% equity. To keep an overdraft account at the bank I had to submit a detailed annual report of my financial position. My borrowing limit was set at about 10% of my net worth, or lower. About a year ago, just for fun, I applied for a home equity line of credit naming what seemed to me a huge figure. The paperwork arrived almost overnight. All I had to do was sign. But maybe because they had spelled my name incorrectly I decided not to set up the account.