Saturday, November 1, 2008

Next up? Credit cards....

Next crisis in the batter's box; credit cards.

I can almost hear Wall Street thinking:

Let's see. The government like totally bailed us out on the 'credit crisis.' Our bonuses are safe! Let's sock all that money away, (what, loan money?) and if any really cheap banks come up, we'll buy them!

Thanks, Uncle Sam!

(What a sucker, heh.)

Where else can we snag some money?

Oh, yeah. The credit cards situation really sucks. Of course, it's sucked for years, but we've kept it on the Q.T. But now?

Hey, Uncle Sam! Look how bad the credit cards are!

Here's what we'll do. We'll lower the credit on the good guys, who will immediately start screaming. We'll keep squeezing the bad credit risks for penalties and late fees, until they crack, but by then we should have more of the luscious federal moola!

Get those P.R. guys crafting some ominous sounding warnings....

Oh, I can't wait!

Merry, Funking Christmas, everyone!


Anonymous said...

City of BEND Bankruptcy 101 - Fiduciary Responsibility

We were low on money this summer 2008, then city council went to a say private law firm and said, we need representation, we're going to be sued for 'failure to act in Fiduciary Responsibility".

The private law firm in Bend replied, "Glad to help you, but it will cost you $400k as a retainer". Sonia (Bend Finance) paid the retainer, where did that money come from? the reserve fund!

Soon we'll be bankrupt, there will be nobody for anybody essential service such as fire, police, water, sewer NADA.

Those lawyers are smart, get the cash up front while you still can. Bend Lawyers, CPA's, everyone knows that Bend will soon have no cash to pay the bills.

Will the US government bail-out Bend, after they go bankrupt?? Will the County have to pickup fire, police, and essential other service?

Where did all the City of Bend cash go??

Unknown said...

If this is true then it should be a front page story. Do you have any evidence?

Call the Oregonian if you have any supporting data that is verifiable.

Duncan, Do you have a take on this? You "published" this statement. Will it bear up to scrutiny?

Duncan McGeary said...

"Duncan, Do you have a take on this? You "published" this statement. Will it bear up to scrutiny?"

It's Bilbo.

You decide.