Comments on: Celebrate your debt! http://online.worldmag.com/2008/08/12/celebrate-your-debt/ A forum for discussion of news that arises at the intersection of Christianity and culture. Sat, 21 Nov 2009 15:12:29 -0500 http://wordpress.org/?v=2.8.4 hourly 1 By: KI http://online.worldmag.com/2008/08/12/celebrate-your-debt/comment-page-1/#comment-330946 KI Wed, 13 Aug 2008 15:06:36 +0000 http://www.worldontheweb.com/2008/08/12/celebrate-your-debt/#comment-330946 I don't believe God prohibited all usuary,MIM. I don’t believe God prohibited all usuary,MIM.

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]]> By: Make it Man http://online.worldmag.com/2008/08/12/celebrate-your-debt/comment-page-1/#comment-330912 Make it Man Wed, 13 Aug 2008 13:41:58 +0000 http://www.worldontheweb.com/2008/08/12/celebrate-your-debt/#comment-330912 May I remind everyone that God <i>specifically</i> prohibited usury? And yet our whole economy is built around it. If we did not allow loans with interest none of these problems would have happened would it? This bears thinking about for the Christians on this blog. May I remind everyone that God specifically prohibited usury? And yet our whole economy is built around it. If we did not allow loans with interest none of these problems would have happened would it?

This bears thinking about for the Christians on this blog.

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]]> By: arcadia http://online.worldmag.com/2008/08/12/celebrate-your-debt/comment-page-1/#comment-330800 arcadia Tue, 12 Aug 2008 23:44:55 +0000 http://www.worldontheweb.com/2008/08/12/celebrate-your-debt/#comment-330800 <i>Criminals and frauds created the credit crisis. They should be in jail. Instead we bailed them out and forgave all of their sins.</i> The day llama starts <b>really</b> calling for large numbers of bank executives to go to jail, will be the day the Arctic re-freezes over. And as for the bail-outs, the plain truth is that unfettered, unregulated capitalism is what allowed these institutions to become "too big to fail". These financial earthquakes, and the necessity for the US to essentially guarantee trillions in loans have threatened the solvency (already suspect) of our government and, of course, created more debts which our children and grandchildren will have to pay. So yes, I think some folks should go to jail. Starting with the CEO's of Countrywide, Wells Fargo, Chase, and few other banks. Not to mention the CEO's of Goldman, Merrill and others institutions which simply made up numbers when auctioning and selling these debt packages. One of the magical secrets of the American system is that executives are NEVER held accountable for decisions made by their institutions. Oh, by the way llama, don't you agree that much more heavy regulation of the mortgage and debt industries is now called for? Or haven't the S=L crisis and the current crisis yet convinced you that without serious, effective regulation, the entire country is placed in financial peril. Criminals and frauds created the credit crisis. They should be in jail. Instead we bailed them out and forgave all of their sins.

The day llama starts really calling for large numbers of bank executives to go to jail, will be the day the Arctic re-freezes over.

And as for the bail-outs, the plain truth is that unfettered, unregulated capitalism is what allowed these institutions to become “too big to fail”.

These financial earthquakes, and the necessity for the US to essentially guarantee trillions in loans have threatened the solvency (already suspect) of our government and, of course, created more debts which our children and grandchildren will have to pay.

So yes, I think some folks should go to jail. Starting with the CEO’s of Countrywide, Wells Fargo, Chase, and few other banks. Not to mention the CEO’s of Goldman, Merrill and others institutions which simply made up numbers when auctioning and selling these debt packages.

One of the magical secrets of the American system is that executives are NEVER held accountable for decisions made by their institutions.

Oh, by the way llama, don’t you agree that much more heavy regulation of the mortgage and debt industries is now called for? Or haven’t the S=L crisis and the current crisis yet convinced you that without serious, effective regulation, the entire country is placed in financial peril.

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]]> By: randeg http://online.worldmag.com/2008/08/12/celebrate-your-debt/comment-page-1/#comment-330773 randeg Tue, 12 Aug 2008 21:48:30 +0000 http://www.worldontheweb.com/2008/08/12/celebrate-your-debt/#comment-330773 This is an interesting way of looking at debts. It is positive for one thing. I am with you, the pundits keep on spinning this topic leaving us all cowering in fear. That said, we still have to face the fact that some people are deep in debt and need our help. Evelyn Guzman <a href="http://www.debtchallenges.com" rel="nofollow">Debt Challenger</a> This is an interesting way of looking at debts. It is positive for one thing. I am with you, the pundits keep on spinning this topic leaving us all cowering in fear. That said, we still have to face the fact that some people are deep in debt and need our help.

Evelyn Guzman
Debt Challenger

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]]> By: Make it Man http://online.worldmag.com/2008/08/12/celebrate-your-debt/comment-page-1/#comment-330763 Make it Man Tue, 12 Aug 2008 21:20:44 +0000 http://www.worldontheweb.com/2008/08/12/celebrate-your-debt/#comment-330763 A virtual mortgage burning? I guess so. I hadn't thought of doing that actually. A virtual mortgage burning? I guess so. I hadn’t thought of doing that actually.

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]]> By: hrw http://online.worldmag.com/2008/08/12/celebrate-your-debt/comment-page-1/#comment-330701 hrw Tue, 12 Aug 2008 19:23:07 +0000 http://www.worldontheweb.com/2008/08/12/celebrate-your-debt/#comment-330701 Credit card debt is a bad thing? no its just plain stupid. Credit card debt is a bad thing? no its just plain stupid.

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]]> By: NJLawyer http://online.worldmag.com/2008/08/12/celebrate-your-debt/comment-page-1/#comment-330686 NJLawyer Tue, 12 Aug 2008 18:56:32 +0000 http://www.worldontheweb.com/2008/08/12/celebrate-your-debt/#comment-330686 MIM, you'll tell us when that happens so we can have a virtual mortgage burning, right? Llama is right when he says that used properly, debt isn't necessarily a bad thing, but credit card debt -- that's a bad thing and should not be celebrated. MIM, you’ll tell us when that happens so we can have a virtual mortgage burning, right?

Llama is right when he says that used properly, debt isn’t necessarily a bad thing, but credit card debt — that’s a bad thing and should not be celebrated.

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]]> By: Lester http://online.worldmag.com/2008/08/12/celebrate-your-debt/comment-page-1/#comment-330681 Lester Tue, 12 Aug 2008 18:45:41 +0000 http://www.worldontheweb.com/2008/08/12/celebrate-your-debt/#comment-330681 Llama's way of disparaging anyone who disagrees with him is quite like a fascist and/or totalitarian. Rather than debate using facts, he resorts to name-calling. He uses this to cover up his lack of knowledge in any given subject, especially business/economics/finance, where he fancies himself as quite the expert. A Walter Mitty of Wall Street, so to speak. Llama’s way of disparaging anyone who disagrees with him is quite like a fascist and/or totalitarian. Rather than debate using facts, he resorts to name-calling. He uses this to cover up his lack of knowledge in any given subject, especially business/economics/finance, where he fancies himself as quite the expert. A Walter Mitty of Wall Street, so to speak.

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]]> By: hrw http://online.worldmag.com/2008/08/12/celebrate-your-debt/comment-page-1/#comment-330677 hrw Tue, 12 Aug 2008 18:39:50 +0000 http://www.worldontheweb.com/2008/08/12/celebrate-your-debt/#comment-330677 Llama you seem to think anybody who disagrees with you is a leftist whack job. However, most leftist whack jobs, including this one, deplore corporate welfare and quite frankly would be happy to see bad lenders sink into bankruptcy. That's why we have bankruptcy laws and not bail outs. Bankruptcy is an orderly means of taking care of capitalism's failures whereas bail outs are a reward. <i>The future of the hive does not depend on full employment for all the worker bees. In fact, an accident can put many bees out of action without compromising the hive as a whole.</i> That's a cold way of looking at dismembering the redundant workers. Actually quite fascist and totalitarian -- the individual is not important only the borg. Llama you seem to think anybody who disagrees with you is a leftist whack job. However, most leftist whack jobs, including this one, deplore corporate welfare and quite frankly would be happy to see bad lenders sink into bankruptcy. That’s why we have bankruptcy laws and not bail outs. Bankruptcy is an orderly means of taking care of capitalism’s failures whereas bail outs are a reward.

The future of the hive does not depend on full employment for all the worker bees. In fact, an accident can put many bees out of action without compromising the hive as a whole.

That’s a cold way of looking at dismembering the redundant workers. Actually quite fascist and totalitarian — the individual is not important only the borg.

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]]> By: Lester http://online.worldmag.com/2008/08/12/celebrate-your-debt/comment-page-1/#comment-330649 Lester Tue, 12 Aug 2008 17:48:29 +0000 http://www.worldontheweb.com/2008/08/12/celebrate-your-debt/#comment-330649 Llama - why would you take out a new car loan? Cars lose about 20% the minute you take them off the lot. It doesn't make much fiscal sense to pay for such a bad investment with a loan costing you between 4-7%. Of course, I deal with money and that's the way I see it. Some people may see a car as not an investment and/or a financial sink hole but rather just a car. Great. If you're going to keep it for 10-15 years, then buy a new one. But calling me insane is just another bout of name calling from a guy who thought 361 was greater than 369:). You do seem to have trouble with facts and numbers. FYI - the credit crisis bares blame on both sides. I don't recall any republican complaining about the practices of Fannie Mae and Freddie Mac, or calling out mortgage companies undertaking predatory mortgage practices. Nope. Democrats and Republicans were enjoying the ride, just like the rest of Wall Street. Llama – why would you take out a new car loan? Cars lose about 20% the minute you take them off the lot. It doesn’t make much fiscal sense to pay for such a bad investment with a loan costing you between 4-7%.

Of course, I deal with money and that’s the way I see it. Some people may see a car as not an investment and/or a financial sink hole but rather just a car. Great. If you’re going to keep it for 10-15 years, then buy a new one.

But calling me insane is just another bout of name calling from a guy who thought 361 was greater than 369:). You do seem to have trouble with facts and numbers.

FYI – the credit crisis bares blame on both sides. I don’t recall any republican complaining about the practices of Fannie Mae and Freddie Mac, or calling out mortgage companies undertaking predatory mortgage practices. Nope. Democrats and Republicans were enjoying the ride, just like the rest of Wall Street.

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