vagrant_joe

Even After the Bailouts, Housing is Still a Mess

man, this JasonC guy is nuts. I've seen his posts before. So, when a neighbor doesn't pay his VISA card bill at the end of the month, we should all chip in? Sorry buddy, spew your socialism (for the greater good) crap somewhere else. VISA factors in potential losses -if they do a bad job of this, they might go out of business and people with use AMEX or other companies will pop up instead. In fact, when folks don't pay their credit card bill, VISA (well, via the banks that actually hold the debt) sell that "bad debt" off to collection agencies. Check into it -there's a whole industry out there around bad debt collection. And, guess what, it doesn't involve the debt holder knocking on a few neighbors doors asking them to chip in. I hope that many adamantly oppose both the bailout bill and the whole theory around this anti-capitalistic crap -and specifically harass their elected officials until they get the idea. This is exactly the kind of bailout/price-fixing crap that we imposed sanctions on various Korean electronics over-should the rest of the world now place sanctions on US mortgage backed securities, CDS's, and dealing with the US banking system in general?