Wednesday, March 18, 2009

Psychotic news and other merry maladies

In hitting the headlines this morning have you noticed the change. I'm talking about something I've noticed creeping into the news media for about the last year or so. One headline/article says we're doing well while three headlines down the page it says everything is going to hell in a handbasket. Case at point Ed Liddy the head of AIG. The first article says he is "disgruntled" about the bonuses as if he sides with the American people. The next article says he's defending them (bonuses). My question to him would be: How can you give a retention bonus to somebody who's leaving? Contract or not even baseball players would not get a retention bonus IF THEY DIDN'T STAY TO PLAY. Retention means just that to remain to stay to continue.
Some say we should just let the whole company go down the tubes. Let em fail. No that wouldn't be a good idea. First off because we have $170 billion invested in this mess and secondly if you owned an old say Pontiac that was ready for the scrap yard you'd definitely pull the radio, speakers, and that new battery you just bought before calling the junkman. As for AIG we could break it up. Slap different names on the pieces then put them out on the card table on the front lawn with a 25B sticker on them. Or "as is make offer".

Read an article the other day that just defies any sense of ethics or fair play. Banks are starting to lower their credit limits. You might not think this was such a bad idea and I would agree to a certain extent. Unless you're a business you have no need for a credit card with a $20,000 limit. But what the banks are doing is lowering the credit line to below the current balance, You have a $1500 balance and the bank lowers it to $1000 therby putting you in default and charging over the limit fees. I'm beginning to think loan sharks are kinder people than these guys. I guess when these bankers loose their jobs they go directly to the nearest payday loan office and are hired immediately.


Snave said...
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Snave said...

Good post, D.

I'm just hoping our refinance can happen before the credit jokers try something like that on Mrs. Snave and me. They probably could if they wanted to, and it would be crippler.

Demeur said...

Just make sure you get a fixed rate on that refinance and take some time to read all the fine print. If need be ask to take the documents home overnight before signing.

I'm glad I paid my place off before this mess hit because I see all the extras property taxes etc. going up.

BBC said...

Some say we should just let the whole company go down the tubes. Let em fail.

I agree, others will show up to replace them, that is how it works.

I've never bought a place on anything that wasn't a fixed rate. If the rate goes down you just refinance it.

But guess I got lucky because I never saw the need for that over the years.

As for this place, it was given to me so I figure that a kind of karma was in play there being as I gave three places to women.

I paid the $254.00 in property taxes this morning so I'm good to go for another year.

Meaning it costs me 21 bucks a month to live here.

I know, your taxes are a lot higher, eat your heart out. :-)