Homestead mailing list

[bob ford <bobford79 AT yahoo.com>]

Now I see, and agree ....bobford 



----- Original Message ----
From: william Eggers <wce1482 AT yahoo.com>
To: homestead AT lists.ibiblio.org
Sent: Wednesday, September 24, 2008 3:36:08 PM
Subject: Re: [Homestead] Rats jumping ship

The problem is that most people who use credit cards do not own anything.  
They have a car, financed and a house also financed.  The credit card 
companies can get a judgement against them, but it will do no good if they do 
not have anything to attach.  If they want the car or house, they have to 
fight the companies who financed these items.  The credit card companies can 
attach part of the users wages, but if they attach very much, the user will 
quit.  Also as the credit card bubble burst, most of the users will not have 
a job anyway.  So, as I origionally said, the credit card banks will  have 
the take the fall and it will be much larger than the mortgage one was.

--- On Wed, 9/24/08, bob ford <bobford79 AT yahoo.com> wrote:

From: bob ford <bobford79 AT yahoo.com>
Subject: Re: [Homestead] Rats jumping ship
To: homestead AT lists.ibiblio.org
Date: Wednesday, September 24, 2008, 5:25 PM

The new bankruptcy laws (say thanks to the "Senator form MBNA",
Biden), makes it almost impossible to walk on CC debt.  If you own real
property and/or work for  aomeone who writes you checks, you cannot become
asset-proof ....bobford



----- Original Message ----
From: william Eggers <wce1482 AT yahoo.com>
To: homestead AT lists.ibiblio.org
Sent: Wednesday, September 24, 2008 3:13:54 PM
Subject: Re: [Homestead] Rats jumping ship

Actually, I don't think it will make any difference whether the banks are
bailed out or not.  Some big shots will get away with some money, but the real
problem in not what we have now, but what happens when the credit card 
industry
takes its hit.  Credit cards are not secured loans.  That is the card company
has nothing that it can forclose on.  so, when people start to default on the
credit card debt, the banks will be left holding the bag,  and the credit card
debt makes the mortgage problem look small.

--- On Wed, 9/24/08, Lynn Wigglesworth <lynnw1366 AT hotmail.com> wrote:

From: Lynn Wigglesworth <lynnw1366 AT hotmail.com>
Subject: Re: [Homestead] Rats jumping ship
To: homestead AT lists.ibiblio.org
Date: Wednesday, September 24, 2008, 4:46 PM

Mine is not a popular opinion (I don't think) but I think the government 
needs to step back and let the chips fall where they may (I heard 2 
Congress people say that today!). People who participate in risky 
behavior need to take the consequences; our whole economy is a house of 
cards with little real value behind it. It needs to come down; if I had 
money in the system, I'd get it out, too. Come the revolution. I'm 
looking forward to it.

Lynn Wigglesworth
Tioga County, PA


bob ford wrote:
> You've probably heard the old saying about "rats jumping off a
sinking ship", the smart set generally advise ;  "follow the
rats"
> 
> This is unsettling:
> 
> 
> Money-market mutual funds see record withdrawals in week
> 
>
http://www.marketwatch.com/news/story/money-market-mutual-funds-see-record/story.aspx?guid=%7B0CAD8A20%2D0080%2D4847%2DAEC9%2D6C0C6C62B997%7D

> 
> 
>      
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