Thursday, April 14, 2005

Damnit. I just lost a two page long tyrade to the whimsy of the blog system.
Anyway, suffice it to say that I'm still pissed about this:
http://www.nytimes.com/aponline/national/AP-Bankruptcy.html?hp&ex=1113537600&en=24bb2c97b49b0fd3&ei=5094&partner=homepage
and I think that people should go here to voice complaints:
http://www.workingforchange.com/activism/action.cfm?itemid=18843
As I said before, about half of the people filing for bankruptcy in this country are doing so because of unexpected health care costs in a system which leaves them inadequately insured. Furthermore, insurance companies constantly bombard consumers with advertising and direct mail plans designed to entice people into contracting for services which are inappropriate for them and which quickly entice uneducated consumers into credit situations which result in debt problems. Under the current bankruptcy laws, creditors who file for bankruptcy typically start to receive offers for lines of credit from credit card companies (the same companies which want to do away with the bankruptcy safeguards) within a month or two of filing their bankruptcy. Credit card companies want to be able to make money by extending lines of credit without having to take on any of the responsibility or risk which has traditionally come with being a lender. Part of the reason companies have been able to charge interest on their loans is because they are having to shoulder the risk that some of the customers will not be able to pay their loans back.
I'm not saying that creditors shouldn't have penalties for defaulting or that bankruptcy shouldn't be uncomfortable, but to make credit a no lose situation for the credit companies puts an unbearable burden on creditors who face extreme debt. Credit companies should not be in the business of lending money if they are not willing to assume some of the risk for situations where people are truly insolvent (and can demonstrate this fact).
Bottom line: if credit companies were more careful about who they were going to extend credit to in the first place, there wouldn't need to be a change in the bankruptcy laws. Instead, credit companies give credit to people who have no business holding credit cards or lines of credit in the first place (they give credit to people in massive amounts of debt or to peple who have already filed bankruptcy) in order to try to squeeze a profit out of high risk loans, but then they don't want to suffer any consequences for venturing into areas where they shouldn't have been loaning money in the first place. Bankruptcy is not pleasant, and for the consumers who are willing to take that extreme step in the attempt to turn their situation around, I think we need to keep some protections available for the consumer.
Wow. Even I didn't know how much I had to say about that crap.

Going to Houston tomorrow for a wedding, so don't expect a blog, you suckas.
Jeff and Mandy gave me a cold. Bastards. Mandy also gave me some cold medicine that she got from her doctor, which was very nice of her. Jeff gave me nothing. Between the meds and the vitamin C, I should be back to myself in no time.
OK, that's all.
Almost.
What about that law in Wisconsin for hunting cats?
http://www.cnn.com/2005/TECH/science/04/12/killing.wildcats.ap/index.html
Crazy stuff. Jen Shaw is not a big fan of this initiative. I know 'cause I asked her. Here's an idea- instead of fighting over whether or not to hunt these wild cats, maybe cat owners should keep track of their pets so they don't run around outside, especially without a collar. Anyway, it's true that I'm not really a cat lover, but I'm really not up for seeing any animal get shot if it can be avoided.
Laters.

2 comments:

CrackBass said...

we didnt give you shit. you have weakened your immune system with booze and allegra overusage, and general bad-ness. However, if you do have a cold that you contracted without us, i suggest zinc.

secondly, man, do you hate the drug companies. and banks. and credit card companies. quite the downer today steanso. we want more stories about your debaucherous friends (sensat, rami, etc.) and their antics.

The League said...

You better not get me sick, sucker. I'll kick you in the groin if I get a cold.

I simply have never understood why credit card companies don't run credit checks on their own potential clients. What's the average number of cards John Q. American has? 5? 6? 10?

These guys should be experts at assessing whether or not a client is a good risk or not and adjusting their rates accordingly. If someone is a bad risk, then don't issue them a card.

I can empathize with mounting medical costs getting to your wallet. Funny how a group who is so interested in a culture of life doesn't really care if it's a life of poverty thanks to their buddies at the pharmaceutical companies.

At any rate, yeah, this sucks, but why would it surprise you that something this pro-business would pass? Republican or Democrat, these days the mantra is "if it's good for business, it's good for America. Let God sort 'em out."