Two Sad Comments On The State of our Country

Comment #13

justxploring — Wed, 22 Aug 2007 04:09:13 GMT

Thank you everyone for your comments. Good stuff!!

Comment #12

jim695 — Tue, 21 Aug 2007 17:39:14 GMT

One problem is that the fed didn't move quickly enough to reduce the sub-prime lending rate. This helped to create a glut in the housing market, which was already oversold. Countrywide wrote more mortgages than they could sell in an already waning market, and now they're stuck with a butt load of home loans they made to people who had no hope of repaying them. Bad credit? No credit? No problem! Oh, wait a minute ... As Rick mentioned below, they target young people and those with faulty... [ More ]

Comment #11

Rick G — Tue, 21 Aug 2007 11:41:39 GMT

Jarasan brought up a good point that I can definitely relate to. Almost every day (no exaggeration) my son gets mail solicitations from Capital One. His gross income last year was $15,000. Why in the world are they spending all this money soliciting a 20 year old kid in a low income bracket? Their offer? A $500 limit credit card with 19.75% interest rate. What a waste of money and paper.

Comment #10

justxploring — Tue, 21 Aug 2007 05:25:34 GMT

Capital One and Countrywide did lend a lot of money, and probably had too many desirable programs that attracted people who shouldn't have qualified. However, that still doesn't have anything to do with the fact that there have been a record number of foreclosures because people can't find jobs, and when they do, the wages are too low to pay their bills. I mean, I'm a single woman and I just bought a quart of milk for $1.69. What does a family of 5 spend on milk every week? At least it... [ More ]

Comment #9

jarasan — Tue, 21 Aug 2007 03:39:41 GMT

The CountryWide and Capital One problems are self induced, IMHO they spent too much time advertising and not enough time properly qualifying the money they were loaning. Capital One would be in the black if they simply had not spent all that postage soliciting me and 150 million other people , and Countrywide would be in the black if they didn't advertise every frinking night for the past 6 years to poorly chosen ad spots. Capital One is culpable on that also. Do you know how many ho... [ More ]

Comment #8

pacattack05 — Tue, 21 Aug 2007 03:04:03 GMT

Wow! I guess sometimes I can be read the wrong way, when I'm sincerely trying to be funny in a good way. I'll just stop doing it I guess. What's the point? I'm not telling you what to do justxploring, but you really should loosen up a bit....but that's just one man's opiness...lol

Comment #7

pacattack05 — Tue, 21 Aug 2007 03:00:16 GMT

P.S. Really expensive kind...lol

Comment #6

justxploring — Tue, 21 Aug 2007 02:57:25 GMT

Are you smoking something funny tonight, Pac? Where did I say I was angry at you? Huh?

Comment #5

pacattack05 — Tue, 21 Aug 2007 02:48:22 GMT

I thought I was sensitive and read into things too much. Geeesh..lol

Comment #4

pacattack05 — Tue, 21 Aug 2007 02:45:44 GMT

I don't understand why you are mad. I was simply trying to recreate a russian accent, which really had nothing to do with the subject at hand, I agree, but there was no making fun or anything. Just something that came to kmind....sorry. I didn't mean any harm.

Comment #3

justxploring — Tue, 21 Aug 2007 02:14:58 GMT

Shame on me! If I am going to be critical, I guess I should proofread my own blogs. I realize it should read "there WAS a record number" but I'm not a professional journalist either. lol

Comment #2

justxploring — Tue, 21 Aug 2007 01:59:52 GMT

I was editing when you commented, Pac. However, I still haven't a clue what you are saying!