The Real Cause of the Credit Crisis

March 21, 2020

| general, government, law, Legal, politic

Politicians and other talking heads (and thus the general public) seem to agree that the current credit crisis was caused by lack of governmental oversight of the big bad bankers. In actual fact, it was just the opposite. The cause of the crisis was Government pressure (mostly but not entirely from Democrats in the White House and Congress) imposed on the mortgage lending industry as far back as the beginning of the Clinton era. Semi-government institutions, Freddie Mac and Fannie Mae, caved in to the pressure, and by readily buying ever-increasing numbers of shaky loans, they made it highly profitable for loan originators (mostly local brokers and bankers) and loan "bundlers" ( Wall Street) to willingly go along.

Starting in 1992, a majority-Democratic Congress mandated that Fannie and Freddie increase their purchases of mortgages for low-income and medium-income borrowers. Operating under that requirement, Fannie Mae, in particular, became aggressive and … Read More

Making Money From Credit Card Debt – Where to Find Credit Card Debts Available For Sale

March 21, 2020

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| general, government, law, Legal, politic

The current economic crisis has created a situation where making money from credit card debt is actually an excellent business opportunity.

The following statistics illustrate the magnitude of the problem and potential opportunity. Innovest Strategic Value Advisors, a research company, reports credit card charge-offs were $22.6 billion for all of 2007. That figure rose to $76.9 billion in 2008 and $93.1 billion in 2009.

However, to profit from such a business opportunity you first have to know where you can buy credit card debts and there are three (3) main sources where you can purchase credit card debts:

1. The Government

2. Banks

3. Loan Brokers

Let’s take a brief look at each source.

1. The Government

You can purchase loans from the FDIC (Federal Deposit Insurance Company). Loans for sale are advertised directly on their website. The information that is displayed includes the:

~ Type of loan, e.g. commercial, … Read More

Business Ethics Case Study; Unbelievable Government Credit Card Abuse

March 21, 2020

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| general, government, law, Legal, politic

In business management classes across the country MBA students study business ethics. In fact, there are now MBA degrees available that are called Ethics MBAs. But in the real world how ethical is the business community? How ethical is our own government?

How many business travelers for their corporations charge personal items to their credit cards of their corporations? Corporations watch this very closely to make sure everyone follows the rules. Not everyone follows the rules and often there are people who go to extreme lengths to hide their misdeeds.

From a business ethics standpoint corporations and their workers are much more honest and forthright than those who work in government. In fact government credit card abuse at all levels of government is at an all-time high. It is so bad that the federal government actually had to make another law to try to curb the abuse of government credit … Read More

Credit Debt Bailouts – How To Legally Never Pay Back Your Credit Card Debts

March 21, 2020

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| general, government, law, Legal, politic

Credit debt bailouts are extricating credit card debtors from ultimate failure which they are facing in the shape of drowning in the pools of unsecured liabilities through their bankruptcy. Credit debt bailouts are rescuing not only credit card companies but also debtors because both futures are associated with each other. If debtors fail in meeting with their financial commitments i.e. repayment of unsecured debt than financially disturbed creditors cannot bear such disruption and they may have to move towards foreclosures.

Foreclosures of creditors i.e. credit card companies will certainly negatively impact over the confidence of national and international investors on the financial system and they suck out their billions of dollars investment from it. The federal government doesn’t want this situation to be happened because it will create panic and may collapse whole financial system that’s why it is offering credit debt bailouts.

Credit debt bailouts are actually stimulus packages … Read More

Government Stimulus Grants For Golf Carts – Get a Golf Cart Tax Credit From the Government

March 21, 2020

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| general, government, law, Legal, politic

Don’t you just love golf, except for maybe the adulterous Tiger Woods or the long walks between holes? Well, there is not much that can be done about the Tiger Woods fiasco but as for that walk along the green, you can get government stimulus grants for free golf carts.

The government has put together thousands of different programs that are to benefit the American people, but many people have no idea that these programs exist. And for that reason, much of the money that was earmarked to help the citizens of this great country, gets unused.

But if you are lucky enough to find out about these grants, then you may have a shot at getting some of this cash. For example, the government has first time home buyer grants that can equal upwards of $15,000 in some states. In other states, you can receive upwards of $50,000 for … Read More

Credit Card Debt – The Saddest News You Will Ever Hear About the Card Debt You’re Paying

March 20, 2020

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| general, government, law, Legal, politic

The saddest news you will ever hear about your credit card debt is not your 30% interest rate or even the fact you will be 92 years old when you make that last payment provided of course you don't use the card anymore. It's far worse! You've been suckered into a card game you can never win! Sorry to be the one breaking the news to you but there are some things you can do to get even with those card sharks.

Sometime in the past 30 years you looked forward to getting that first card which announced to the world you had come of age, were trustworthy and could get whatever you wanted for the asking because some large financial institution said they were standing behind you all backed up by a contract with so much fine print you couldn't read it without a magnifying glass.

After the zero … Read More

Bail Me Out – Credit Card Forgiveness Secrets

March 20, 2020

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| general, government, law, Legal, politic

Every week, major corporations across America are receiving huge government checks to erase their bad debts. These companies’ massive debts are wiped clean and we. The taxpayers, are the ones that have to pay for it. With all of these companies being handed billions of dollars, the average consumer is asking: “Where’s My Bailout?”

As large companies continue to scream “Bail Me Out,” the government seems content to give them a free pass on their bad decisions. In contrast, the average family has over $10,000 in credit card debt and no government program to erase their debts. The good news for those families is that there are credit card forgiveness programs available that can completely erase credit card debt. You just have to know how to access them.

How Do I get My Bailout?

Banks and credit card companies have done all they can to keep the credit card forgiveness … Read More

Congress Looks to Avert Eurozone Struggles and Damage to Sterling US Credit Rating

March 20, 2020

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| general, government, law, Legal, politic

This week, President Obama urged congress to reach a compromise on the so-called debt ceiling-the legal ceiling for federal debt-and agree on a new budget that would balance America’s books. Policy wonks and politicos have prophesized that any prolonged, bipartisan stalemate would plunge America into economic turmoil anew. It seems the congressional “Gang of Six, “composed of the top lawmakers on either side of the isle, has finally agreed to move forward with talks to cut nearly 3.7 trillion dollars in federal spending over the next 10 years. Though it is unclear from what programs and jurisdictions this money will come, it is clear that reaching a final version any compromise and subsequent bill, in the bipartisan House and Senate, will be long and anguished.

Credit card bills become a headache for everyone

Much of America will be relieved that the US government isn’t going to shutdown as it threatened … Read More

A Bailout to Eliminate Credit Card Debt

March 20, 2020

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| general, government, law, Legal, politic

It seems like everyday now that we learn about a government sponsored bailout of another major corporation. Many smaller businesses, as well as individual people, are left asking where is their bailout from the unscrupulous lending practices of the banks and credit card companies.

In recent years, consumers have been encouraged to use their credit cards for everyday purchases, including groceries, fast food meals, and even the morning cup of coffee on the way to work. All of these purchases, plus the interest and fees added on, have only built up a vast pile of debt for the average cardholder.

This is not much different than the debt built up by corporations, who now have their hand out, asking for help. And the government seems very willing to provide that help, at the long-term expense of the American taxpayer.

There is however, a bailout of sorts for personal credit card … Read More

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Tag: Credit