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Old 07-23-2008, 01:21 PM   #141
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... where he grew up, not far from the house I pointed out.
There's the ER dream. Low-cost housing, and you live off the land.
You told us about the fauna. How's the flora? We need a balanced meal, you know, with some veggie.
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Old 07-23-2008, 01:23 PM   #142
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Isnt that a fried pasta dumpling stuffed with potato?

It's a small, flat bottom boat used to get around in the Louisiana bayous since it won't hang up on anything. Very historical and indigenous to the swamps.
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Old 07-23-2008, 01:25 PM   #143
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the entire mindset that somebody will have to eventually bail them out (stimulus package, interest-free first homebuyer down payment of $10,000, drop interest rates to 2%) that I feel is applied unilaterally.
CA, I respectfully submit that the borrower in the article IS feeling the pain now.. and that the things you list above do not help HER (except minorly the stimulus)..

MORE low interest rates and MORE down-payment assistance only perpetuate the very system/scenario that reeled her in (to everyone's loss). This is the debt pyramid I've been talking about.. they need to go out and find more ingenuous QVC shoppers as grist for the mill.

I don't view the demand as coming from the bottom at all ("customers demanded risky loans so we had to respond!"). I view the demand for more debt and higher rates at the top as a kind of vortex that sucks people (that aren't nailed down financially) up, up into the vacuum.
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Old 07-23-2008, 01:26 PM   #144
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There's the ER dream. Low-cost housing, and you live off the land.
You told us about the fauna. How's the flora? We need a balanced meal, you know, with some veggie.
You get $4 from the State of Louisiana for each nutria tail, too (since they are a pest), so you can go out in your pirogue and shoot nutria for spending money. As for flora, things grow like crazy down here and you will never go hungry (as long as you aren't squeamish!).
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Old 07-23-2008, 01:26 PM   #145
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Before I met Frank, I dated a Creole man who lived down in the bayou where he grew up, not far from the house I pointed out. He got from place to place by pirogue, and was the real deal. He LOVED nutria and kept promising me that we would eat it some time and that I would like it. There is no way I would ever eat nutria, though!! You have to draw the line somewhere.

Don't worry about eating nutria- in Missouri they have muskrats..
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Old 07-23-2008, 01:28 PM   #146
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These folks are just trying to live their lives, taking care of their families. They are trying to do the right thing.
Apparently she persuaded her son to co-sign a loan application and then spent lots of money on home shopping channels (“'Eight weeks in bed by yourself is very dangerous when you have a TV and credit card,' Ms. McLeod said.”). Now her son's credit history has taken a beating, and she is planning to walk away from her obligations by declaring bankruptcy.

That's not taking care of her family, or doing the right thing.
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Old 07-23-2008, 01:29 PM   #147
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In Mongolia they have Marmot--considered real manly food by the wrestlers, they cut off the head, stuff the body full of hot rocks, and left to simmer whole. I took one look at it in the bag, with those little feet sticking up, and said "no way"! They are some sort of ground squirrel, I think. Blech!
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Old 07-23-2008, 01:30 PM   #148
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Don't worry about eating nutria- in Missouri they have muskrats..
Not eating those, either!!

At least Sarah's marmots sound a little exotic, maybe?
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Old 07-23-2008, 01:49 PM   #149
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Apparently she persuaded her son to co-sign a loan application and then spent lots of money on home shopping channels (“'Eight weeks in bed by yourself is very dangerous when you have a TV and credit card,' Ms. McLeod said.”). Now her son's credit history has taken a beating, and she is planning to walk away from her obligations by declaring bankruptcy.

That's not taking care of her family, or doing the right thing.
Her family values could use a little work.
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Old 07-23-2008, 01:51 PM   #150
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In Mongolia they have Marmot--considered real manly food by the wrestlers, they cut off the head, stuff the body full of hot rocks, and left to simmer whole. I took one look at it in the bag, with those little feet sticking up, and said "no way"! They are some sort of ground squirrel, I think. Blech!

No, they are bigger than a ground squirrel- more like a woodchuck. There is a hotel in Spokane, WA with a patio along the river- the marmots will come up and eat peanuts out of your hands.
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Old 07-23-2008, 01:54 PM   #151
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Another thread wrapped up via diversion regarding rodent like creatures.
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Old 07-23-2008, 02:01 PM   #152
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What was this thread about?
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Old 07-23-2008, 02:04 PM   #153
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Not eating those, either!!

At least Sarah's marmots sound a little exotic, maybe?
might make a good avatar... if not an appetizer.
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File Type: jpg marmot1.jpg (3.9 KB, 80 views)
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Old 07-23-2008, 02:07 PM   #154
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Not eating those, either!!

At least Sarah's marmots sound a little exotic, maybe?
I'm trying to resist this--it's just too good a set up, but must be strong!
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Old 07-23-2008, 02:11 PM   #155
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CA, I respectfully submit that the borrower in the article IS feeling the pain now.. and that the things you list above do not help HER (except minorly the stimulus)..

MORE low interest rates and MORE down-payment assistance only perpetuate the very system/scenario that reeled her in (to everyone's loss). This is the debt pyramid I've been talking about.. they need to go out and find more ingenuous QVC shoppers as grist for the mill.

I don't view the demand as coming from the bottom at all ("customers demanded risky loans so we had to respond!"). I view the demand for more debt and higher rates at the top as a kind of vortex that sucks people (that aren't nailed down financially) up, up into the vacuum.
In a way, you are right in that the loans could have been originated at the top, but no matter what you do or package it, these loans NEED to be taken by those at the bottom. In other words, you are kind of suggesting induced demand (has a decent article on wikipedia, more like enough supply creates demand almost).

And, I never said that she ISN'T feeling the pain, if I did I feel I wrote poorly. What I am trying to say is that she SHOULD (as she is). I am not saying this out of spite or anger or contemptuously looking down on her on my high horse, but the fact that based off the agreement that she had with the creditor, she was supposed to pay off the credit card debt. Just, and again it isn't specifically from her but an indictment against many of those in debt's attitude, many of those who want to hang the credit card companies will completely favor a bailout of those in debt.

I stand by the companies and the debtors should be held responsible for their actions (and the stockholders/bondholders). If it causes higher rates, then don't buy the product, or make your own company and try to beat their rates. In other words, the creditors ARE offering a service, no matter how expensive it actually is, it does help people. The problem I see is when the agreement falls out, everyone jumps in to help out (not this case again) the debtor, but not the creditor because of "predatory practices"
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Old 07-23-2008, 02:12 PM   #156
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Hey now, nobody better mess with my marmot! Where's a pancake?
CFB is the king of thread diversions!
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Old 07-23-2008, 02:18 PM   #157
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I'm trying to resist this--it's just too good a set up, but must be strong!

You must be thinking about "hoary marmots"

http://en.wikipedia.org/wiki/Hoary_Marmot
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Old 07-23-2008, 02:35 PM   #158
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One thing I wonder about...there's been a lot of talk about how many (if not Ms. McLeod specifically) are misled by the banks and credit card companies and the advertising agencies and all the other forces of evil in our society. But didn't anyone ever say to her "you're living an unsustainable lifestyle, and you're going to hit bottom eventually"?

I have many friends who live in a manner I consider foolish. I give them my advice (for free ), but they make their own decisions. IMHO people for whatever reasons choose intentionally to make these destructive decisions. I know all of mine were either thought out (at some level) or at least consciously rationalized.

I always try to stop my various destructive behaviors before they do me permanent damage. There may be some truly stupid people out there, but I suspect most are aware of what they are doing to themselves and for some reason refuse to stop until they do hit rock bottom. I just don't understand it.

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Old 07-23-2008, 02:37 PM   #159
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oops, sorry. It took me so long to compose that post I didn't realize that in the meantime the thread had been hijacked.
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Old 07-23-2008, 02:38 PM   #160
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oops, sorry. It took me so long to compose that post I didn't realize that in the meantime the thread had been hijacked.
You can help get us back on track by post by posting pictures of hoary marmots
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