Then you're blind.
Our economy functioned previously under a some credit guidelines. And in the private sector, I would think we did okay.

But now, credit is tightening.
And I don't think you and cnred realize WHAT THAT MEANS...

GM's sales numbers slumped by 36.8% compared with this month last year.
What you dismiss as "can't afford" really boils down to a HUGE ECONOMIC SHIFT in how companies have done business.
You think "36.8%" just comes from people buying what they can't afford???
I would love for you to look up how many people actually default on their loans, but we both know you're not interested in doing that.
Summary judgment and condemnation of "not able to pay" is just so convenient to make without any knowledge of the situation.

This study puts the rate at 2.61%.
I'd say that's fairly low.
It's obviously a lot lower than the 36.8% drop for GM....

WRONG...

The economy was functioning under activists which demanded that people who can't afford credit be given credit because otherwise they will sue them and scream bloody murder...

The Greenlining Institute: Does the financial crisis have its origins in Berkeley?

Do you think banks WANTED to give loans to people they know can't repay them?...

Of course not!...They did because they'd have activist lawyers on their ass with fresh lawsuits...

Anyone wanna guess who one of the lawyers were?...(ssh!!!!...It'll bust your bubble)...

The hell with actual credit ratings...Let's play the RACE CARD!!!...

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"You get the respect that you give" - cnredd

You know, I fully expect that soon we'll be hearing about the need for special mental health services for suburbanites who've had to cut off their 9 year old's cell phone service and the massive trauma that's causing, and the Feds should pass a $300 billion bill to help the middle class fix that life scarring trauma.

When was that? The last bubble got bailed out, under Bush I, and now it's even worse, supposedly. Now you think it will magically work again???? LOL speaking of being blind ...

Oh, it's obvious who doesn't know what it means. This isn't my first rodeo involving bailouts. It's ignorant kids who've never had to live within their means who are having the troubles here.

Yes, well, there was no crisis then. As late as March your heroes were telling us all how sound the economy was, the same people crying wolf now

Everybody around here has at least two cars, most have three. Gee, I wonder what that means ... maybe the words 'Glutted markets'? ...

Obviously it does. The sob story in the OP clearly shows the guy couldn't afford the car, couldn't even afford to kick in another couple of grand for the down. That stuff happens when you fuel an economy on credit and artificial inflation policies and replace decent jobs with **** service jobs. Live with it.


I would love for you to learn what personal financial responsibility means, and why we teach math in schools; apparently you slept through yours. You're obviously from a generation that thinks it's entitled to borrow money it can't afford to pay back and leave it the Feds to cover your debts.

See NAFTA and a host other related problems. Throwing $700 billion at crooked banks will do f--k all to solve this.

Agreed. They need to stop their silly and childish behavior when pointed fingers at each other. Seems like that they can't get along.

I suppose that if I tried to buy a new car now instead of almost four months ago, who knows if I would have succeeded when I financed it through a local credit union.

The bill should be clean. Period. And it should have oversight by a committe of honorable knowledgeable people. And it should not be a 700 billion all at once. Give up a third of that and assess as we go. Wall Street fell 300 more points AFTER the senate plan was announced. There are going to be hardships regardless if the bill is passed or not. Let's not make it worse.

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I did not win the Powerball again!


"When a true genius appears in the world, you may know him by this sign, that the dunces are all in confederacy against him."
--Jonathan Swift