What the fuck? WHAT THE FUCKITY FUCK!?! (Paulson wants to give bail money to CC companies)

[Aviation Pro]

Listen up you bald-headed motherfucker, we are paying usurus interest rates to these thieves and I will be goddamned if I'm going to give these jerkoffs any of my tax payer dollars. You can add yourself to the criminal shit list that President Obama's Justice Department will be looking into.

Link here: http://www.washingtonpost.com/wp-dyn/content/article/2008/11/12/AR2008111201124_pf.html


Federal Bailout May Include Credit Card, Loan Companies

By Howard Schneider
Washington Post Staff Writer
Wednesday, November 12, 2008; 12:55 PM

U.S. Treasury Secretary Henry M. Paulson Jr. said he wants to expand the government's $700 billion bailout program to include credit card, student loan and car loan companies, part of an effort to ensure that households and businesses have access to a broad array of borrowing options.

[eleny]

1. Yup, that was the next shoe to drop

[youthere]

2. Start screaming to your congresspeople NOW.

It isn't going to matter with THIS bailout package, but you can be damn sure it's going to get some consideration for the next one...and there will be a next one.

[kirby]

3. If you thought people were pissed before!

Of all the industries...Bailing out the credit card companies seems like playing with fire.

You can kind of rationalize that mortgage companies (not the sub-prime one) are taking a beating since they loaned money at a low interest rate. But credit card companies loan with high interest rates. They have done little to reduce credit card fraud via security measures. They give cards to dogs. They rape their customers with outrageous fees, etc.

[jpak]

4. Initiate Plan 9!

Looks like Paulsen is going to make all this stuff up on the fly.

Obama needs to show him the door.

[AtomTan]

14. Actually, I'm thinking this plan has been in place for a long time.

[madrchsod]

5. student loan companies..?

those fuckers will steal the pennies off your eyes if you die before you pay them. you can`t get rid off those debts through bankruptcy so they own you till the day you die or you pay them off.

[Aviation Pro]

12. Here's what President Obama's team should do....

...with respect to student loans. Create a program for those who out of necessity had to take out these loans where there is a means assessment tied to a loan repayment schedule. Then supplement the payees loan with bailout funds for the duration of the loan. For example:

Student A
Loan: $40,000
Current Income: $40,000
Current Loan Monthly Payment: $500/month
Supplement from bailout money: $250/month (paid directly to note holder)
Total responsiblities of student A: $250.00

This would be reasonable and would give Student A an extra $3000.00 year in discretionary income for his/her use.

[aquart]

23. They do me. You?

[madrchsod]

28. yup...about 8000 on our son`s college tuition

[liberalmuse]

6. Prison.

He needs to go to prison, and so does Bush. I'm furious! Yet another Republican rip-off scam. I wish there was a hell, so these people could burn in it.

[dkofos]

7. I'm so glad the bailout/ handout passed!!

:sarcasm:
:sarcasm:
:sarcasm:
:sarcasm:
:sarcasm:

[SammyWinstonJack]

15. Yeah no kidding!

:puke: Where do the bailout cheerleaders stand on this? Are they still singing praises for the bailout, even now?

[JackRiddler]

8. While agreeing, I fear you're fooling yourself about this:

"You can add yourself to the criminal shit list that President Obama's Justice Department will be looking into."

Not unless he gets caught with a live boy or a dead woman, as the old saying goes. Justice is very unlikely to be done.

[Glorfindel]

9. Oh, hell, no. Anybody but those foul creatures

It's bad enough that the banks are using bailout money for bonuses and dividends instead of lending it. "Helping" the credit card companies would surely - SURELY - start a righteous mutiny.

[jtrockville]

10. So the 30% interest rates they charge us aren't ENOUGH?

[file83]

30. Have some sympathy, SIR!!!

Those marketing offers filled with brochures, fake cards, and letters you get 3 times a day cost A LOT OF MONEY!!!!

Why do you hate our troops! :rofl:

:sarcasm:

:cry:

[Cleita]

11. I'm with you.

These guys have got to go. I would only approve of this if Congress puts into law that interest rates cannot go above 12% per year like it used to be and they have to make this law permanent. Also, that they be more selective on whom they allow to have credit. This giving people $10,000 credit limits who are earning minimum wage has to stop. My first credit card had a $500 limit and my interest rate was 9% per year, which at that time was considered astronomical. But on my salary then it was affordable and gave me the emergency funds I needed at the times I needed them.

[StreetKnowledge]

13. You've Done Enough F---king Damage, Paulson

Barack, make sure to stop this cold, and when you take over in the oval office, get this fucker on trial for fraud. Bailing out investment banks is bad enough. Credit card and student loan companies? Not a f--king chance!

[ramapo]

16. Didn't you see AmEx's slick move?

They got expedited approval to become a bank. not to be left out, once approved they applied for some billions in bail-out money.

[KamaAina]

17. Hey! Just a cotton-pickin' minute there!

Why "bald-headed" motherfucker? I can assure you that the vast majority of us in the baldo-American community are not involved in shoveling hundreds of billions of dollars into the corporate trough!

:-)

[Aviation Pro]

18. I'm bald too....

...I apply whatever physical feature is most prominent to the motherfucker in question.

[still_one]

19. Changing the rules without Congressional approval. The only bright light

on this outrage is that Congress didn't give these criminals the full 700 billion

half now, and half later under their approval

Congress better haul his ass before them, and stop any further distribution of money

[On the Road]

20. Whether It's a Good Idea or Not,

It's been a part of the deal from Day One, and was discussed at the time by those following the details.

I don't have an opinion yet, although the goal of the plan seems to have migrated. Originally the goal seemed to be to prevent a wave of bankrputcies that could take down the whole financial sector. This program seems to be geared toward providing economic stimulus by pushing more lending through the private sector.

[Julius Civitatus]

21. ROBBERY, THEFT, HEIST, LARCENY, FELONY...

break-in, burglary, caper, embezzlement, hit, holdup*, job, looting, mortal sin, mugging, purse-snatching, stickup, thievery, unlawful act, wrongdoing...

These motherfuckers are RAIDING the Treasure in their way out.

[rvablue]

22. The fucked up part of this is that he could give it to them but then require

them to erase debt of regular people, all under the stipulation that they stop their predatory practices and this would free up people to start spending in stores, restaurants, etc.

I know a lot of people that managed their budgets would be pissed, but at least it wouldn't just go to huge corporations and the rapists that work at them and it would get the economy moving.

No such luck, this "bail out" from the beginning was robbery by Bush Co. before he left office and frankly, while I know we were in a corner due to the presidential election, I'm so pissed at the Dems for letting this happend.

Fucking robbery...

[slipslidingaway]

24. This idea was talked about in September, unless something was

added to the bill to exclude this debt, we should have expected this to happen.

:(

[wroberts189]

25. my god ... 40 bucks for being a day late and now I bail them out? n/t

[8 track mind]

27. exactly! after...

American Express tried to fuck me over they can go belly up as far as i'm concerned.

[Neshanic]

26. Next up...Capital One and Americredit.

[RedCappedBandit]

29. Is it fascism yet? nt

[Oak2004]

31. They're propping up the wrong end of the economy

Trying to avoid collapse by propping up the credit industry, especially the consumer credit industry, is nuts.

The crisis will be resolved the day the people at the bottom earn enough so that they can afford to pay their bills -- and not a day sooner.

[Quantess]

32. ...groan...

[DU GrovelBot]

33. ## PLEASE DONATE TO DEMOCRATIC UNDERGROUND! ##

==================
GROVELBOT.EXE v4.1
==================



This week is our fourth quarter 2008 fund drive. Democratic Underground is
a completely independent website. We depend on donations from our members
to cover our costs. Please take a moment to donate! Thank you!

[Kablooie]

34. Bush is still president, what did you expect?