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Author Topic: 0% for banks, 79% for Main Street - Banks need to stay healthy...  (Read 1221 times)
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WhiskeyGirl
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« on: January 09, 2010, 04:52:45 AM »

I listened to a guest on Fox yesterday say the banks still need 0% interest to remain healthy.  Why?

I hear every day about folks getting credit card bills with minumum payments tripled overnight, and interest rates of 79%.

Why isn't anyone in Washington worried about keeping Main Street healthy?

What exactly are banks doing with that 0% interest?

Are they loaning that money to Main Street?  I keep reading that small businesses and consumers aren't borrowing any more - consummerism is way down. 

Hmmm...when interest rates jump to 79% overnight, who can afford to buy on credit? 

Whey your minimum payment triples in one month and you haven't added to your debt to own that much more, and your budget cannot take more, who can afford to buy more?

Mr. Obama spoke many times about Americans who were tricked into loans that reset. 

What about credit card interest and payments that go up and up and up without relief?

At one time, interest rates for credit were capped.  In theory banks only extended credit to folks that could afford it and were good risks.

What about today?  Easy mortgages, easy credit, no way for consumers to pay it back.

With consumers not buy and borrowing...what are the banks doing with that 0% interest money?

With consumers paying 79% interest, what are banks doing with that 0% interest money?

Why isn't Obama worried about consumers and Main Street staying healthy?

0% for banks to big to fail, 79% for Main Street

 
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