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Help, I'm drowning in debt

Americans have debt piled on top of debt. A combination of deregulation, greedy lenders and wishful burrowers equaled the perfect storm. I have written about the sub prime mortgage problem but this is a variation on that. Credit card debt. There is not a day that goes by without at least credit card offer coming in the mail. They offer you Low, LOW, LOW introductory rates. Then they the real rate which usually considerably higher. On top of that they hit you with late fees where in the interest rate can climb to loan shark rates.

Don’t forget the marketing these credit cards on campuses. That’s one of the worst practices.

More here.


From AP:

Americans are falling behind on their credit card payments at an alarming rate, sending delinquencies and defaults surging by double-digit percentages in the last year and prompting warnings of worse to come.

An Associated Press analysis of financial data from the country’s largest card issuers also found that the greatest rise was among accounts more than 90 days in arrears. (more…)

By |2007-12-26T23:17:29-04:00December 26th, 2007|Economy|Comments Off on Help, I'm drowning in debt

Countdown – Gonzo drowning in lies

Oh, it is hard to feel sorry to Alberto. It seems to me that when you go into the lions’ den you should throw the lion a nice big fat steak and leave as fast as you can. Alberto Gonzales has been called into the Lion’s Den for a repeat performance. The only problem is Alberto hasn’t been bring steak. He has been throwing Congress a plastic steak doggy toy. Congress has chewed and chewed the plastic steak and they aren’t happy. So, Alberto should have brought steak but no, he was too clever. The Senate Judiciary committee had nothing to chew on but him. Dems and Republicans took bites. Arlen Spector, who is known for barking loudly in committee hearings, was true to form. Patrick Leahy did his best to take a chunk out of Gonzo’s hide.

Update:  Appears that there are some documents that AP has found that seems to contradict Alberto Gonzales.


From WaPo:

Attorney General Alberto R. Gonzales testified yesterday that top congressional leaders from both parties agreed in March 2004 to continue a classified surveillance activity that Justice Department officials had deemed illegal, a contention immediately disputed by key Democratic lawmakers.

Rep. Nancy Pelosi (Calif.) and Sen. John D. Rockefeller IV (W.Va.), who were briefed on the program at the time, said there was no consensus that it should proceed. Three others who were at the meeting also said the legal underpinnings of the program were never discussed.

“He once again is making something up to protect himself,” Rockefeller said of the embattled attorney general.

The dispute came as Gonzales weathered one of the most contentious and hostile congressional hearings seen during the Bush administration. Democrats and the ranking Republican on the Senate Judiciary Committee accused him of repeatedly misleading them and warned that he could face perjury charges if he lied to the panel.

“I do not find your testimony credible, candidly,” said Sen. Arlen Specter (R-Pa.), who became visibly angry at several points during his exchanges with Gonzales. “The committee’s going to review your testimony very carefully to see if your credibility has been breached to the point of being actionable.” (more…)

By |2007-07-26T21:46:14-04:00July 26th, 2007|Bush Administration, Domestic Spying, Senate|Comments Off on Countdown – Gonzo drowning in lies
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