FedEx Freight | Good read on what just happen to YRC

What I just don't understand is how these people are not in legal trouble!

At the very least, since we are at war, and their actions hurt our country, why can't they be charged with treason? Maybe a couple of blue chip investor geniuses being executed would do wonders for our financial institutions!
They've done more damage to our country than even the 9\11 did. Why do we accept that?
 
They've done more damage to our country than even the 9\11 did. Why do we accept that?


Really? They've killed almost 3,000 people? Come on now. Although I rarely agree with you, I will say that you generally have well thought out posts and comments. This is a rare but big exception.

oaf
 
:eck13: This is how the economy went down the toilet in the first place. When all these lending places took out mortgages in the sub-prime market so they could make a quick buck we all got bent when it hit the fan. Now we are getting stuck with higher credit card rates mandated by the government so the bankers will have another way to stick it to us. I have always had excellant credit and was stunned when Capital One raised my interest rates to 15.9 % to make up for their bad investment woes. The same is for GE credit. A lot of washers and dryers have been financed through GE credit over the years but who wants to pay on the average 25% to do so? We are still getting the shaft from the same government that was voted in to make the Change. Well the only change I see is a different strategy to take more money from my pocket every pay day!!
 
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Really? They've killed almost 3,000 people? Come on now. Although I rarely agree with you, I will say that you generally have well thought out posts and comments. This is a rare but big exception.

oaf

I said damage to the country. I meant as a whole. While 9/11 certainly was a violent slap down, and changed this country forever, the continued finanical crisis has affected many more people. It's made our country weaker, and has shown the rest of the world that maybe they would do better than to rely on us so mmuch. And while 9/11 got us into 2 forever wars, those that crafted the meltdown here at home are free to continue to do as they please. I think they've harmed the nation in time of war and should be treated as harshly as someone that gives our secrets to the enemy. They should be in jail.
 
Thanks Franklin. I was very aware on how derivatives work. Derivatives are simply contracts for future contracts. The paper dollar is a derivative so to speak, which is a futures contract on the future production of the American people. A derivative is therefore a risky investment and should be entered into a balance sheet as a liability that gives the holder oportuniy cost, less ability to borrow for other items. Derivatives become fraudulent when entered into a balance sheet as an asset. In this situation, the liability of a derivative can be used as collaterol for borrowing to purchase yet more derivatives (futures contracts). When you use this in a circular fasion it becomes a pyramid/ponzi scheme. So, derivatives need not be banned, but we should stop the fraud of using them as an asset class when infact they are a risky liability. Now, what these Wall Street bankers do is they place bids on your labor so to speak and make huge profits for themselves (that is what they were doing with YRC). If the company that you work for is on the stock exchange and the company offers a pension to there employee's, theres a very good chance that these criminal Wall Street bankers are going to go after your pension money. That is why they wanted YRC bankrupted so they can go after the employee's pensions. What a lot of people don't know is that Goldman and a couple other banks practice what they call flash trading. Goldman basically itercepts the entire Wall Street trading data stream and can see "flashes" of competitive bids on stocks or dirivatives before the rest of the market can, they get to peek at the other players cards in the game without the other players knowing what Goldman is holding. Corruption in trades and in stocks is the best way for the big players to really get rich. The rest of us lose money or get the left over scraps. The whole Wall Street game is a giant casino and the small players lose most of the time. Big players can lose big, but they have friends in the Treasury to bail them out when something goes wrong. America's government has become one big corrupt cesspool of greed. Now, what people don't know is that the derivative market is on the verge of callapse and when that happens we are going to experience hyperinflation and a very bad depression.
 
Any time a credit card company sends you a notice that they are changing your rate you have the right to refuse the change. Just call them up and tell them "no". Your account will be closed,and the current rate will remain in effect until you pay off the balance. Destroy the card because if you use it after that,you have just agreed to the new rate.I have a Capitol One card that had a 2.9% deal until paid off,they tried to change it to 15.9% also. I told them no,and I am still paying 2.9%. You can bet that I will drag that sucker out till the cows come home---SCREW CAPITOL ONE!!!!!!
 
Randy. You must use caution when closing a credit card account (if you decide to go that route) because what these a**holes will do is give you a bad credit rating. The best thing to do is not use that card anymore. Just hang on to it so no harm is done to your credit score. A friend of mine closed his credit card account 2 years ago because the company kept on uping his rates. He got so sick of playing their games that he paid off the balance and then closed the account. The company turned arround and gave him a bad credit rating although he might of paid his bills on time. That is how they screw with you.
 
It's true that the banks were lending money to people who couldn't qualify for a loan. We were riding high on the hog, and everyone was making money. So what happen? No one has mention Mr. Bernard Madoff and his Ponzi scheme lately, and the more than 50 billion dollars lost to investors, which started the recession ball rolling.

Right now the credit card companies are scrambling to make as much money as possible before the law changes. Don't be surprised to see your rates go up even if you have excellent credit. Also don't be surprised to see your credit card canceled if you pay it off. The credit card companies are looking for those people who only pay the minimum payment every month. That's there bread and butter. Something to think about. TP
 
The real Goldman Sachs

A co worker told me to read this very interesting on who actually runs the financial dept of our gov.Inside The Great American Bubble Machine : Rolling Stone

As long as they have the people in government.they will never be prosecuted..
 
Randy. You must use caution when closing a credit card account (if you decide to go that route) because what these a**holes will do is give you a bad credit rating. The best thing to do is not use that card anymore. Just hang on to it so no harm is done to your credit score. A friend of mine closed his credit card account 2 years ago because the company kept on uping his rates. He got so sick of playing their games that he paid off the balance and then closed the account. The company turned arround and gave him a bad credit rating although he might of paid his bills on time. That is how they screw with you.

diesel,
There is actually harm done to your credit score, The more open accounts you have, the less credit score you will have, even if you have a zero balance and have never used the card. Any type of open credit available to you even with zero balances will lower the credit score number, this also includes bank overdraft accounts. The least amount of open credit available to you means a higher credit score.
 
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