The Financial Crisis Support Group
This community is dedicated to discussing the financial crisis of 2007-2008, which has had a worldwide impact on wealth, jobs and personal security. Our hope is that this community will focus on positive thoughts, real advice for adjusting your expenses and investments based on these changes, and support for one another as we go through this painful period.
We were told that the $700 bailout was an emergency measure to stop the financial decline in our country. We were also told that our tax dollars that are paying for this bailout were safe because we were essentially "investing" in the companies that were being bailed out.
The billions, that have been distributed so far, have been to banks with absolutely no restrictions as to how those funds are used. The banks have used the funds to start buying up other failing banks. Paulson arranged for a change in the IRS rules, while we were all paying attention to the bailout . The IRS rules now provide these banks with a huge tax deduction for buying up the failing banks.
There we go again - the rich get richer - and we the taxpayers of the middle class pick of the tab - because as their taxes go down - ours eventually go up.
And while this is going on companies all over the country are failing - DHL has just let go of 9500 + employees - literally destroying an entire town. The jobless rate has just hit 6.5 % in our country. This is getting scary.
Write to your congress person - please - let them know we expect more from them than they' are doing.
This is crazy.
The billions, that have been distributed so far, have been to banks with absolutely no restrictions as to how those funds are used. The banks have used the funds to start buying up other failing banks. Paulson arranged for a change in the IRS rules, while we were all paying attention to the bailout . The IRS rules now provide these banks with a huge tax deduction for buying up the failing banks.
There we go again - the rich get richer - and we the taxpayers of the middle class pick of the tab - because as their taxes go down - ours eventually go up.
And while this is going on companies all over the country are failing - DHL has just let go of 9500 + employees - literally destroying an entire town. The jobless rate has just hit 6.5 % in our country. This is getting scary.
Write to your congress person - please - let them know we expect more from them than they' are doing.
This is crazy.
REALITY CHECK, they do not care if you loose your job. As long as the rich keep getting richer, everything is fine. If they keep making money and unemployment goes to 90% it does not matter.
Look what we have been doing. We been letting a certain percentage of people die for the lack of health insurance, so they can maximize their profit margins. They only want us to have just enough money to by their crappy products. Like me, they want everybody that has money to work 82hrs a day, 7 days a week for it. They don't care. They use fear to control us, fear of terrorism, fear of poverty, fear of poor health with no insurance, fear of loosing our jobs, to walk the line they want us in. Now, they are going to use fear of economics.
I am deeply sorry to say this. They will not do what is right, until they are afraid of what we might do. I don't like that, but that may be where we are headed for.
There is new workers rights legislation pending. It was filibustered in the past. They are going to try to pass it again. NO ONE better get in the way of that legislation, this time. The working people will make demands, one way or another. I hope it is done peaceful.
What are you willing to do if a child or grand child is dying of hunger? Will you say, things are really good, because the rich just got richer?
AIG went and had another executive party. Good times on Wall Street. Main Street can burn, for all they care.
One of the biggest contributors to Obama's campaign was Goldman Saks. Obama's economic adviser is an ex- Goldman Saks executive, that had worked with the Clintons.
Bush and McCain were brain dead, but I fear Obama is going to sleep under the spells and potions of Wall Street. If someone does not wake him up and keep him awake, it is the end of
America.
Spread the word. The battle is just beginning. If you love this country, we better have massive protests in D.C. to get the Main Street point across to our President and Congress.
This will be our choice. We can protest with signs and banners, now, or we can protest with guns and IEDs, later on.
The Republican are famous for doing horrible things. The Democrats are famous for doing nothing. Nothing is as dangerous for everybody, right now.
Some Ideas would be:
CC interest rates immediately cut in half of what they are currently charging.
Late payment fee reduced to ACTUAL COST.
Customer should have 30 days to pay their statement from the date mailed and ALL corresponance must have a dated postmark.
Plain english in the cardholder agreement and not a loophole if you fart on Friday we can up your interest rate 300% on Saturday with a 7 day notice!
No blanket mailings offering your CC to every breathing thing on earth. You can advertise on TV and in periodicals BUT NO DIRECT MAILINGS.
No granting of credit if you only have a pulse with no visible sign of income.
All stated income on a CC application MUST BE VERIFIED!
Just a few off the top of my peabrain but would at least be a start.
Of course my disclaimer: JMO - Have a great day!