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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Lee Lichterman III who wrote (85401)	8/21/2007 3:46:12 PM
From: Bid Buster	Read Replies (3) \| Respond to of 110194

<The reason that credit card rates are 33% for some people is they are not trustworthy> Could you explain why Chase would up the credit card interest rate to 25% in a change of terms notice to someone that has a credit score of 780 and no late payments on a $6000 balance? tia.

To: Lee Lichterman III who wrote (85401)	8/22/2007 1:13:18 AM
From: kikogrey	Respond to of 110194

You are right, any talk of bail-out of these poor mortgage holders just sends me into orbit. I listened to a radio station in Los Angeles today that's suggesting the LA city council institute emergency measures to keep people from foreclosing. Amazing those who are homeless or are losing their homes because of lack of medical insurance aren't emergencies, but those who lied on their loan applications and bought plasma tvs are. I work in a poor area, my patients have more "stuff" than you can imagine--always the latest cell phone, camera, cars, etc. Go into a costco in a poor area and look into the carts--electronics, kids playing with toys their parents are buying, etc. The point is it's not only their mortgages that they can't afford, it's virtually every part of their life. "We can't afford it" is not part of their vocabulary. These 'poor mortgage holders' were motivated by one thing--GREED. They didn't care about their liar loans because they were only going to hold the property a short while and sell it to some other fool. But like musical chairs the music stopped and they were more than one chair short. Too bad. The real losers in all this mess are those who lived responsibly and rented. If this whole mess isn't allowed to run its natural course we are dooming a whole generation to being slaves to their mortgage. Upping the limits past $417,000 is insanity--so in California you can overpay for some dump that is worth about 10% of its asking price so another fool can be in debtor's prison forever?