levin70

When Banks Try to Defend Credit Cards

Takling the other side of the argument....

Banks should be able to charge whatever rate and whatever fees they want. There are thousands of banks issuing credit cards today. Don't like the fees your bank charges you, cancel the card and get another from another bank. Or better yet, cut up the card and don't use it.

Excuse me, but last time I checked the banks were not holding a gun to my head and making me use their credit cards and borrow their money.

You all realize that its the least marginal borrowers who get hurt by these changes? And no, I'm the farthest thing from a marginal borrower as I like most of the people who post here pay their balance in full each month, early, and thus don't incur any of the aformentened fees anyway.

Regards

Why are Banks Playing Hardball with Chrysler?

Why shouldn't the banks play hardball. They lent money to Chrysler, received a first lien security interest in substantially of their assets. I don't remember one article when the gov't gave money to Chrysler that these banks were holding a gun to the Administrations head saying "do it or else". The government has three choices; (1) accept the higher settlment offer from the banks, (2) let chrysler go into BK and let the BK judge sort it out or (3) fire the boards and management of the banks

I guarantee you the worst outcome is #3 as this will lead to a complete stoppage of all banking activity in the US as everyone heads for the exit at the same time.

Regards

The Escalator of Life Is Going Down (Part 2)

If there is one thing I hate its retread without checking what your retreading. I will give one example because thats all the time I have - that nice subprime graph showing the resets coming coming from neg am and other loans. That graph is from a Nov 2007 Deutch Bank presentation. The data is from 2006.

I hate to tell you this, but 2006 data is so old right now in regards to loan resets its rediculous you even included it. Care to bet how many of those loans are gone already, wanna guess?

Please do a better job retreading what other blog writers are writing on other sites. It will save some of us the time we read your articles that we could be doing something far more productive

Regards