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jadedragon
Administrator
Canada
3788 Posts |
 Posted - 10/18/2008 : 00:42:34
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And don't pay your credit cards either. Use any spare cash for a vacation or new wardrope. Maybe try buying some cheap silver and hidding it? Interesting and provocitove article.
You must be logged in to see this link.
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moboman
1000+ Penny Miser Member
USA
2555 Posts |
Posted - 10/18/2008 : 10:01:57
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| Sounds like a good plan. But what if there is no bailout for credit cards? |
"99% of all lawyers give the rest of them a bad name" 
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Delawhere Jack
1000+ Penny Miser Member
USA
1680 Posts |
Posted - 10/19/2008 : 15:09:42
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| Peter is getting bitter! |
"Educate and inform the whole mass of the people... They are the only sure reliance for the preservation of our liberty." Thomas Jefferson
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misteroman
Administrator
USA
2565 Posts |
Posted - 10/19/2008 : 21:06:08
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| sweet,my mortage is around $5,200 a mo.Think of all the pennies I can now buy.Works great except I have morals |
Buying CU cents!!!! Paying 1.2 unlimited amounts wanted. Can pick up if near Ohio area. |
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moboman
1000+ Penny Miser Member
USA
2555 Posts |
Posted - 10/19/2008 : 23:01:49
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quote:
Originally posted by misteroman
sweet,my mortage is around $5,200 a mo.Think of all the pennies I can now buy.Works great except I have morals
 Does that include all your investment properties? Must be a nice place. |
"99% of all lawyers give the rest of them a bad name"
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Nickelless
Administrator
USA
5580 Posts |
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Bluegill
1000+ Penny Miser Member
USA
1964 Posts |
Posted - 10/20/2008 : 22:19:10
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And to think I lived within my means, paid cash for everything and was a financially responsible citizen.
Now I found out I could have bought a house I couldn't afford, maxed out a half dozen credit cards and bought a car I couldn't afford, and then just cried victim and have the government bail me out. 
What the hell was I thinking... Be responsible, hah, shame on me...
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NotABigDeal
1000+ Penny Miser Member
USA
3890 Posts |
Posted - 10/21/2008 : 06:16:51
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quote:
Originally posted by Bluegill
And to think I lived within my means, paid cash for everything and was a financially responsible citizen.
Now I found out I could have bought a house I couldn't afford, maxed out a half dozen credit cards and bought a car I couldn't afford, and then just cried victim and have the government bail me out.
What the hell was I thinking... Be responsible, hah, shame on me...
I hear ya. Financial responsibility is rare these days. I don't even have a credit card, probably should, but I don't.
Deal |
Live free or die.
Plain and simple.
"If you love wealth more than liberty, the tranquility of servitude better than the animating contest of freedom, depart from us in peace. We ask not your council or your arms. Crouch down and lick the hand that feeds you. May your chains rest lightly upon you and may posterity forget that you were our countrymen."
- Samuel Adams |
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jadedragon
Administrator
Canada
3788 Posts |
Posted - 10/24/2008 : 03:39:38
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You must be logged in to see this link. is an interesting read. Maybe you really should stop paying that mortgage.
Bair's loan guarantee plan is still being discussed by Treasury Department officials. Treasury officials who are leading the rescue effort have declined to say whether they would move forward with it, how much it would cost or even when they would make a decision.
The rescue legislation approved last month requires the government, as it acquires mortgages or mortgage-backed securities, to "implement a plan" to "maximize assistance for homeowners." The bill also requires the government to encourage lenders to adopt programs that minimize foreclosures. But the exact measures the government will take in that regard have not been disclosed.
Under the program proposed by Bair, a lender would get a government guarantee that troubled loans would be repaid. In exchange, the lender would be required to significantly drop the interest rate, reduce the principal or extend the life of the affected loans.
Banks would apply to the FDIC to participate. A loan would be eligible for new terms if the borrower's income is high enough to meet the revised schedule of payments
and from the next page of the article:
Even the federal regulator in charge of running mortgage finance giants Fannie Mae and Freddie Mac, which together own about $1.5 trillion in mortgages and securities backed by mortgages, acknowledged at yesterday's hearing that the companies haven't done enough to stem foreclosures.
James B. Lockhart III, director of the Federal Housing Finance Agency, said only 49 percent of loans for which foreclosure was likely this year were modified to help the homeowner.
"They have to do a lot more," he said.
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“The reasonable man adapts himself to the world; the unreasonable one persists in trying to adapt the world to himself. Therefore all progress depends on the unreasonable man.” – George Bernard Shaw.
Why Copper Bullion ~~~ Interview with Silver Bullion Producer Market Harmony
Passive Income blog |
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swusc
Penny Hoarding Member
USA
553 Posts |
Posted - 10/24/2008 : 09:19:55
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"When the people find that they can vote themselves money, that will herald the end of the republic." Benjamin Franklin
It is one thing to try and save the financial system as everyone is screwed if it fails. It is something else to bailout the greedy and stupid just because they are greedy and stupid.
Obama tax plan is going to destroy the little guy. The sad part is the little guy is too stupid to see it. He is going to vote for his own destruction.
-SWUSC |
`Everybody is ignorant. Only on different subjects.' Will Rogers
"This is the shabby secret of the welfare statists' tirades against gold. Deficit spending is simply a scheme for the "hidden" confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights. If one grasps this, one has no difficulty in understanding the statists' antagonism toward the gold standard." Alan Greenspan, 1966. |
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Nickelless
Administrator
USA
5580 Posts |
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pencilvanian
1000+ Penny Miser Member
USA
2209 Posts |
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Stop Paying Your Mortgage Now
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