PRI's Marketplace was just asking, "If CITI Group goes down...What will happen???"

[Up2Late]

That's a truly scary question, because even though I HATE CITI Group, they are the Issuers for probably 95% of all the Visa and MasterCard Credit Cards in this country, If CITI Group fails, that would be a MAJOR F*CKING Problem!!!:banghead: :mad: :rant:

Or am I over reacting here?:freak: :argh: :shrug:

[mike_c]

1. gee-- no visas or mastercards...?

Take it from someone who lives quite happily without consumer credit cards or debt-- life goes on just fine. Better, actually.

[Up2Late]

4. That's fine for you and me, I don't use mine either anymore...

...but think of all the other people who in debt up to their eyeballs... those poor souls would be screwed.

[SoCalDem]

7. they already ARE, and buying MORE on credit won't help them much

We can only hope that the bankruptcy bill is re-done, and that everyone seriously in debt, just bites the bullet and files..and we can get this whole credit mess behind us.. and goinf forward, only truly credit-worthy people get credit.. EZ credit started this whole mess, because bosses quit paying people enough to live on.. That need to be addressed too..

[SoCalDem]

5. Isn;t that the truth..no credit cards here in over 5 years.

and we no longer live paycheck to paycheck.. ONE income family ( I am the lazy stay-at-home wife):evilgrin:...and NO money worries, except for the gutted 401-k :(

we pay cash for everything..even our cars..

[SoCalDem]

2. Maybe big banks going under IS the solution

Their "assets" appear to be over-leveraged and not much more than shit anyway..

Perhaps the real solution is to let them fail, and to go back to SMALL...LOCAL...COMMUNITY banks..like we all USED to use.. banks that KNOW their customers, and protect their deposits, instead of taking them to Wal Street Casino..

[cliffordu]

3. Pay cash. I do. Makes life simple and interest-free.

I love not paying 12-30% interest on credit card debt.

[Up2Late]

6. I'm with you, but think of what this might do to the rest of the economy...

...it's very scary to think about.

[cliffordu]

12. Isn't that the real problem wtih the economy???

Unbridaled greed fulfilled by unlimited speculative credit???

Loans bundled and sold on their future value what, 35 times current value????

Fucking pyramid scheme falling apart, that's all. The people responsible need to be stripped of everything they own and sent to prison.

[rucky]

8. What a crazy radical concept!

[cliffordu]

11. Yep, but I've always been a little nutty.

[aquart]

13. Would you like to be attorney general?

It's just that you have the right attitude.

[cliffordu]

14. Yep. I would.

:bounce:

[SoCalDem]

9. I always laugh at my bargain hound friend.. she'll "stock up"

on stuff on sale 15% off, and then pay 18%+ on finance charges on her credit card..:rofl:

[truedelphi]

10. Those "coupon crazy" types drive me slightly crazy

They'll get in their car and go 80 miles to find some bargains, and then come home bragging about how much they saved.

It's strange.

[AdHocSolver]

15. These corporate monopolies must be broken up, and prevented from getting so huge...

as to dominate the economy.

How big is too big? If people start arguing that a particular corporation is "too big to fail", then it is too big to be allowed to exist.