Houston Mayor wants to pay off people's credit cards

[Razorguns]

OMFG. Just when I thought I heard enough socialism stories. This keeps up, Canada and England sound like nice areas to visit for a couple years.

btw: Is renting really THAT horrible in the united states? Are renters routinely tortured and murdered?

r

Mayor drops plan to pay homebuyers' credit bills | Front page | Chron.com - Houston Chronicle

Mayor Bill White this afternoon announced that a plan for the city to pay off some debts for first-time home buyers has been pulled from tomorrow's City Council agenda.

Council members are now professing their "embarrassment" about the proposal, which has hit the national news circuit, including drudgereport.com., which picked up this morning's Houston Chronicle story about the plan

"This issue has hit a nerve across this country," said Councilwoman Anne Clutterbuck. "Not just here in the city of Houston. Giving people the ability to increase their credit score artificially because we're allowing them to pay off their credit cards is exactly what got us into this (national economic) crisis in the first place."

 

[hanselthecaretaker]

Re: Houston Mayer wants to pay off people's credit cards

OMFG. Just when I thought I heard enough socialism stories. This keeps up, Canada and England sound like nice areas to visit for a couple years.

btw: Is renting really THAT horrible in the united states? Are renters routinely tortured and murdered?

r

Mayor drops plan to pay homebuyers' credit bills | Front page | Chron.com - Houston Chronicle

Mayor Bill White this afternoon announced that a plan for the city to pay off some debts for first-time home buyers has been pulled from tomorrow's City Council agenda.

Council members are now professing their "embarrassment" about the proposal, which has hit the national news circuit, including drudgereport.com., which picked up this morning's Houston Chronicle story about the plan

"This issue has hit a nerve across this country," said Councilwoman Anne Clutterbuck. "Not just here in the city of Houston. Giving people the ability to increase their credit score artificially because we're allowing them to pay off their credit cards is exactly what got us into this (national economic) crisis in the first place."

Home "ownership" is the American dream! We'll do anything to keep it going, even if it means burying the country in a massive financial mess!

 

[Razorguns]

Re: Houston Mayer wants to pay off people's credit cards

Home "ownership" is the American dream! We'll do anything to keep it going, even if it means burying the country in a massive financial mess!

Corporate America to white males:

"if you're white, above 30, and DON'T buy a big house for your soccer mom wife and kids you are a FAILURE. Your in-laws will look down on you, friends, and your spouse. What caucasian PUSSY of a man would dare live in a condo or apartment with a family. Pathetic. If you don't want to be laughed at YOU SHOULD BUY A HOUSE, preferably AN EXPENSIVE ONE!

Here, we'll make it easy for you - by giving you tons of credit. Now go make the wife, in-laws and your family proud of you."

r

 

[nimbus]

Re: Houston Mayer wants to pay off people's credit cards

is that oscar mayer's brother?

 

[galaxy]

Re: Houston Mayer wants to pay off people's credit cards

I actually think all credit card debt should be wiped out. Fuck the banks. They dont even pay there creditors, so why should I? I bet Wachovia isnt gettign harrassing phone calls?

Think about it. You free up peoples credit card debt and now you have that income to be freely put back into the economy.

Lenders were irresponsible and created this mess. People make 20k a year yet could have 30k in credit? Thats fucked and not to the fault of the consumer. They were doing just like the banks. Having a false sense of wealth.

OH! And now that banks have recieved money from the Stimulus, there not lending any money like they were supposed to and there raising interest rates.

I personally think everyone should give the credit card companies a big fuck you and not pay them period.

I also think credit should basically be abolished and simply based on income.

If you make 40k then you should be allowed to have 10k in credit available to you. If you make 60k then 15k available to you and so on.

At least something like that.

How about we talk about adjustable rate mortgages that actually reset and then the lender would re finance for you? Fuck them in the ass!

Pay off my debt or forgive it. I could give a shit about it helping my credit score. Hell even the Jews forgive all debt every 100 yrs.

What these CEO's have done is criminal and they should be fucking put in prison.

Gee lets finance someone who make 24k a year a 500k home. It was being done.

Whole system is fucked.

I know Im all done paying my credit card debt. Fuck em. With the money I save Ill be able to pay cash and save money. I have my mortgage and home and they cant touch it.

Credit cards are unsecured. Shit now Ill just save a month a I can buy a new 4 wheeler cash.

 

[galaxy]

Re: Houston Mayer wants to pay off people's credit cards

"This issue has hit a nerve across this country," said Councilwoman Anne Clutterbuck. "Not just here in the city of Houston. Giving people the ability to increase their credit score artificially because we're allowing them to pay off their credit cards is exactly what got us into this (national economic) crisis in the first place."

This women doesnt even know what the fuck shes talking about.

 

[jnevin]

Re: Houston Mayer wants to pay off people's credit cards

Is this the way private schools teach you how to spell mayor?

 

[galaxy]

Re: Houston Mayer wants to pay off people's credit cards

I assumed it was like Oscar Mayer. Anyway, please stay on point.

 

[jnevin]

Re: Houston Mayer wants to pay off people's credit cards

[/B]


This women doesnt even know what the fuck shes talking about.

She actually does kind of know what she's talking about. When people were draining their homes of their equity and using it to pay all of their debt off it would make their scores almost instantly jump. Then they'd borrow more and spent themselves into the holes they're in now.

 

[galaxy]

Re: Houston Mayer wants to pay off people's credit cards

Due to irresponsible lending. Thats what got us here. I bet they didnt take debt to income ratio into consideration like they are now that they arent being paid. Adjustable rate mortgages that automatically reset and then refinancing said person also got us here. Not some inflated credit score.