AMEX running scared

[keepmine]

[AngelinaCatHub]

alas Babylon

[Scott50]

The winners so far are the Brad Rocks of America, the bankers who have emerged unscathed, their capital intact and with enough retained earnings to support lending, on their terms. A residential mortgage from Bank of Smithtown requires 20 percent down and clear evidence of adequate income to repay the loan, as well as a good record of paying down debt.

I think if mortgage lender's had practiced stricter lending practices this credit mess that we're currently in could have been avoided.. The days of easy credit are long gone...

[JRScott]

The winners so far are the Brad Rocks of America, the bankers who have emerged unscathed, their capital intact and with enough retained earnings to support lending, on their terms. A residential mortgage from Bank of Smithtown requires 20 percent down and clear evidence of adequate income to repay the loan, as well as a good record of paying down debt.

I think if mortgage lender's had practiced stricter lending practices this credit mess that we're currently in could have been avoided.. The days of easy credit are long gone...

I would agree and they really should never have existed.

I wrote my Senators and Representative in 2005 that the problem was not the bankruptcy laws, but rather that lenders were lending more than they knew people could repay. I urged then that they instead of reforming bankruptcy limit the credit a person could receive based upon real property and wages. I've also written them this week reminding them of the letters I sent in 2005 and asking that they not bail out these companies but to allow them to file bankruptcy as all average Americans have had to do. The law should apply equally to all regardless of income, business, race, sex, creed etc.

It is time we learned to say No to ourselves and our children for their sake because our economy has been a lie for the past few decades. It could never have sustained itself, these bailouts only will delay the inevitable.

I applaud AMEX in lowering credit limits. I hope the other credit cards will follow suit.

[Maximo]

AMEX was so loose with credit...about 5 years ago we went into Costco and my wife applied for a Costco AMEX card. She got approved for 18,500. She didin't even have a job! I was like,wtf???

[AngelinaCatHub]

I would agree and they really should never have existed.

I wrote my Senators and Representative in 2005 that the problem was not the bankruptcy laws, but rather that lenders were lending more than they knew people could repay. I urged then that they instead of reforming bankruptcy limit the credit a person could receive based upon real property and wages. I've also written them this week reminding them of the letters I sent in 2005 and asking that they not bail out these companies but to allow them to file bankruptcy as all average Americans have had to do. The law should apply equally to all regardless of income, business, race, sex, creed etc.

It is time we learned to say No to ourselves and our children for their sake because our economy has been a lie for the past few decades. It could never have sustained itself, these bailouts only will delay the inevitable.

I applaud AMEX in lowering credit limits. I hope the other credit cards will follow suit.

[JRScott]

Oh they'll ignore my letter I'm sure .

However this will not fix the problem, it only compounds the problem. Short term fixes seldom ever fix anything.

That's what they are really afraid of, is that they will have to tell Americans the trutch, because if they can't borrow they'll have to operate with the funds they collect from taxes.

I agree the Senate and House should have term limits, 12 years, no more. (I wrote them that last year to with several other changes in rules for congressman etc).

[Hohuyoo209]

we want to do something

I'm going to bump the tread up.And with this prize that I have received as a Prize of Peace, I am going to try to make the home for many people who have no home. Because I believe that love begins at home, and if we can create a home for the poor I think that more and more love will spread. And we will be able through this understanding love to bring peace be the good news to the poor. The poor in our own family first, in our country and in the world. To be able to do this, our Sisters, our lives have to be wove with prayer. They have to be woven with Christ to be able to understand, to be able to share. Because to be woven with Christ is to be able to understand, to be able to share. Because today there is so much suffering…When I pick up a person from the street, hungry, I give him a plate of rice, a piece of bread, I have satisfied. I have removed that hunger. But a person who is shut out, who feels unwanted, unloved, terrified, the person who has been thrown out from society-that poverty is so full of hurt and so unbearable…And so let us always meet each other with a smile, for the smile is the beginning of love, and once we begin to love each other naturally we want to do something.Come and buy wow gold, Warhammer gold, wow gold, wow power leveling, Warhammer power leveling web .

[fltoo]

This is very weird that a spammer bumped this thread because a friend and I were just talking about Louis Uchitelle, the long time NY Times writer.

As so many "journalists" do, Uchitelle does not report on the economy, but, tries to spread his left wing nonsense. Read his book, The Disposable American, to get a feel for his "economic slant".

Sigh...where have all the real journalists gone?

[JRScott]

Sadly journalism is practically dead. Instead we have political hacks promoting certain agendas acting as journalist most often.

That is the great danger, the 1st Amendment provided for a free press so that it could act as a counter to the government, but when the press is ideologically connected to one extreme or the other we lose the counterweight they are suppose to have provided.

[fltoo]

Well said, but who is at fault when the readership accepts what is said "as is"?

We need to teach the old critical thinking class in high school again.

[Cali]

AMEX looks at household income, so she didn't need a job to apply.
And I've never known of AMEX being loose w/ credit.

AMEX was so loose with credit...about 5 years ago we went into Costco and my wife applied for a Costco AMEX card. She got approved for 18,500. She didin't even have a job! I was like,wtf???