Giving Consumers More Credit

[erpowers]

I just watched CBS Nightly News and on this edition of the show there was a report on how the government is trying to put more money into the banking system in order to give more credit to consumers. During one point in the story it was mentioned that a few years ago someone could get a car supposedly with $0 on a $30,000 loan, but currently that same person would probably have to put down $7,500 to buy a car. I really do not see how that is such a bad thing. I would really like for people to be able to buy things, but I do not see what is wrong with making people put money down to buy things. I think it would be better if someone only had to put down 10%, but I am not too upset with people have to put more down to be able to buy things. I just do not see the need to encourage people to go out and buy things on credit. I think people should be encouraged to go out and buy things, but not so much on credit.

[Johonny]

1. It's only a good idea if the change the usury laws

Forcing more Americans to go deeper into debt against credit companies that have outrageous and unregulated interest rates seems to me a very stupid thing.

[question everything]

2. The NINJA loans

That stands for No Income No Job (no) Assets.

Haven't we learned our lesson from the housing market?

And why buy a $30,000 car? What, a used one for half that amount, or even a new one for about $20K is not good enough?

[Robbien]

3. No one asked us if we want more credit. They are mandating that we do.

And are mandating we give them our money so they can give us credit.

What a mixed-up world. Consumers don't need more credit. They need more good paying jobs.

But they are not asking us.

[CoffeeCat]

4. This is so awful, it makes me want to cry...

What in the world are these clowns doing?

They're going to save the world by creating another bubble? That's exactly what they're
doing!

They're perpetrators, turning all of us into financial victims.

If the economy is tanking and people haven't saved a penny and have over extended themselves--what
does our government do? They make it easier for us to be victimized again and again and again
and again. More debt. More money owed to the man. At high interest rates. Keeping us in chains.

Revolting. Awful.

[leftstreet]

5. Aaargghhh!! I'm a CITIZEN not a CONSUMER

I hate this crap!