No easy way out of debt

When I read that the U.S. Federal Reserve may allow Wall Street firms to draw emergency loans from the central bank to cover defaulted investments (7/9, Business, “Indexes post gains as favorable news trickles in”), I can’t help but wonder if the government shouldn’t step in to correct the behavior of agencies that promise to consolidate bills. There seems to be no control over the exorbitant interest rates they charge people who have gotten financially strapped.

I heard an ad that promised to consolidate your credit so it would be “unnecessary to change your spending habits.” It seems that it was unwise spending habits that got people into this situation. If they don’t change the way they spend, they will get back into the same fix.

This attitude creates a recurring cycle of debt and consolidation. This is irresponsible and a violation of truth in advertising.

Sheryl M. Bell
Kansas City

Comments

[NoMoreMrNiceGuy]

People that can not pay their bills should be treated equal to fathers that fall into that same rut. Debtors prisons.

[stone]

I think the Budweiser sale could be good for the beer.... as it is, Budweiser and Bud lite are just awful to taste. Maybe InBev will add something much needed to the beers: FLAVOR

[People are Dumb]

There is an easy way for the banks. Get a federal govt bailout. And who bails out the federal govt? YOU. And it wont be easy.

[Pub 17]

Without Rouge I never would have had that picture flash in my head of Iraqis surrendering to the CBS News Crew in the middle of the desert. THAT is Anheuser-Busch and InBev, capitalism surrendering to euro-socialism.

[JayhawkinMO]

Hey, Pub 17, it's nice to see one more Rogue antagonist taking some of his drive-by hits. You'll note that one of his childish hobbies is altering screen names in an attempt to insult—trying to insult someone is his primary default position... when he is stuck without anything intelligent to say... which is much of the time... Oh, regarding the business practices of credit card companies and lending institutions, it clearly points out the need for lean-and-mean regulatory agencies, which, obviously, the Bush administration has gutted in recent years...

[Pub 17]

Does it occur to you that mighty Anheuser-Busch, iconic American symbol of capitalism at its finest and financier of every right-wing survivalist nutcase in the Arkansas woods, selling out to a Belgian beermaker is kind of like the Iraqi "soldiers" in the Gulf War surrendering to a CBS news crew?

[Pub 17]

[EDITED BY MODERATOR, SIGH]

C'est une BUD pour toi, mon cher ami! Mais payer en Euros, s'il vous plait

BWAHAHAHAHAHA....

[Rogue]

Why 17 Pubes, do you worry about the ozone layer? Hell since your head is in it most of the time, I thought that would be one thing you would not be concerned about?

[Pub 17]

For God's sake worry about that little lump on your neck, Sheryl. Worry about the ozone layer. Worry about the depletion of the Equus Beds.

Worrying about people too stupid to control their desire for big-screen TVs is like worrying about people who spend their money on foot-wraps that draw poisons from their bodies. It's just that much less money they can send to the RNC.