"Americans’ credit scores sinking, firm says" by Eileen AJ Connelly, Associated Press | July 12, 2010
NEW YORK — The credit scores of millions more Americans are sinking to new lows.
It’s unlikely they will be able to get credit cards, auto loans, or mortgages under the tighter lending standards banks now use.
All that loan liquidity bailout loot went right into the pockets of bankers to balance their bottom line and for bonuses, folks.
It was never loaned back to you, even though you will pay interest because the government borrowed it on your behalf.
Because consumers relied so heavily on debt to fuel their spending in recent years, their restricted access to credit is one reason for the slow economic recovery.
The insulting and elitist Amerikan MSM really is something, huh?
Yeah, it is CONSUMERS who are at fault for rolling up debt to fuel spending, etc, etc.
Yup, but when government does it with you as a cosigner that is stimulus!
And here you are out nearly one trillion dollars, net job totals continued to decline the whole time, and you are right back where you were two years ago, America.
Was it worth it?
Was Obama's stimuloot on your credit card worth it?
More are likely to join their ranks. The Labor Department says 26 million people are out of work or underemployed; millions more face foreclosure, which can chop 150 points off a score. Once the damage is done, it could be years before this group can restore their scores, even if they had strong credit histories in the past.
Wasn't that the whole point of this self-created crisis?
Related:
“We still have a large number of foreclosures in the city, which impacts the values of homes,’’ when they sell at lower prices by lenders eager to get out of the real estate business, said Mayor Linda M. Balzotti of Brockton. This is the second cycle of foreclosures the city has endured, she said. The first was caused by sub-prime mortgages. This cycle largely stems from homeowners who have lost their jobs or are underemployed. We still haven’t quite leveled out yet, but I’m hopeful we will shortly’’
I've been told booming recovery for three quarters until the slowdown, blah, blah.
Related: Things Are Tough All Over in Massachusetts
Also see: Boston Globe Takes Care of Business
How much cash you sitting on, reader?
On the positive side, more individuals have cut spending and paid down debt.
Yeah, if you are a usurious bank that is great news.
That is the MSM's positive spin on all this, huh?
But people who were eligible for credit before the meltdown are finding it hard to qualify for affordable loans.
In other words, a whole bunch of people have just been shut out of the economic system.
--more--"
And you had such a gaudy piece of plastic you liked to show off!
"NFL has credit card holders scrambling; Reward program moves to Barclays" by Emily Fredrix, Associated Press | July 6, 2010
NEW YORK — The National Football League’s decision to move its branded credit card business from Bank of America to British banker Barclays is forcing customers to scramble to spend reward points before they expire next month.
On message boards, fans are discussing how they’ll spend their points in Bank of America’s “NFL Extra Points’’ program. They have until the end of August.
Fans can get a one-hour appearance from the
The adolescent Amerikan adult class staring you in the face.
The market for credit cards affiliated with sports teams, universities, or other special-interest ventures has been growing and consolidating amid the financial shakeout. The NFL likes having credit card partners because it gets a cut of the business beyond the initial payment for the rights to the franchise. Credit card companies like the programs because rabid fans don’t need much convincing to sign up.
Yeah, and I spend every Sunday in the fall around s*** heads who care about nothing else.
Americans are getting what they deserve from their government and institutions.
They care more about a football team and millionaires they have never met than they do getting raped by their "public servants."
Care more about their "fantasy" statistics than they do the increased tax bills.
And care far more passionately about whether Brett Favre will play football than any war looting or lying.
Bank of America Corp., based in Charlotte, N.C., won’t say why it and the NFL failed to reach agreement on an extension of a contract it has held since 1995. The NFL, which announced the deal with Barclays last month, declined further comment.
--more--"
Related: You Can't Bank on Bankers' Good Will
Credit Cards Are a Girl's Best Friend
Also see: Credit cards not always clear on penalty rates
Better off leaving it in your pocket, Americans.
Actually, cutting it up with a pair of scissors would be perfect.
