pokerfied.com
Promoting poker discussions.

Main
Date: 06 Dec 2008 03:46:27
From: Arlo-Payne
Subject: Please hold on to yur cash
Yes folks we are heading straight into a depression.

As example I read the banks were planning on closing 1 trillon credit card
accounts (about half of all cards out there)
Well I saw the first hit yesterday. I had one card I only used for online
stuff. It had a small limit around $700. I figured by using it the most
I could get burned for if someone else used it was a few hundred. Well I
just got notice it is now closed. Trust me if they close one of my
accounts they will close anyones. My credit rating well lets just say it
is over 750.

People unless you are 150% sure you will not lose your job cut back on
your spending of your money. Last month over 500,000 people were laid off
due to no fault of their own.

As another example we just had to take some land back. Sold it to a
doctor with a good rating.
We worked with him and carried the paper for a year with the understanding
he would get alaon on the land after a year. He had apartments up for
sell and needed to clear those payments before getting a land loan. Well
he sold the apartments but whne he went to the bank they were just flat
out not loaning money to anyone for land. He told us even the old
standard 80% loans were now very hard to get.

Anyway hold onto your money things might get reall real bad.

_______________________________________________________________________
looking for a better newsgroup-reader? - www.recgroups.com






 
Date: 06 Dec 2008 20:26:54
From: FangBanger
Subject: Re: Please hold on to yur cash
On Dec 6 2008 5:46 AM, Arlo-Payne wrote:

> Yes folks we are heading straight into a depression.
>
> As example I read the banks were planning on closing 1 trillon credit card
> accounts (about half of all cards out there)
> Well I saw the first hit yesterday. I had one card I only used for online
> stuff. It had a small limit around $700. I figured by using it the most
> I could get burned for if someone else used it was a few hundred. Well I
> just got notice it is now closed. Trust me if they close one of my
> accounts they will close anyones. My credit rating well lets just say it
> is over 750.
>
> People unless you are 150% sure you will not lose your job cut back on
> your spending of your money. Last month over 500,000 people were laid off
> due to no fault of their own.
>
> As another example we just had to take some land back. Sold it to a
> doctor with a good rating.
> We worked with him and carried the paper for a year with the understanding
> he would get alaon on the land after a year. He had apartments up for
> sell and needed to clear those payments before getting a land loan. Well
> he sold the apartments but whne he went to the bank they were just flat
> out not loaning money to anyone for land. He told us even the old
> standard 80% loans were now very hard to get.
>
> Anyway hold onto your money things might get reall real bad.

THIS CRAP WILL MAKE YOU FOLD ACES PREFLOP!! oh wait nope !!


Those who can make you believe absurdities can make you commit atrocities.
Voltaire

_____________________________________________________________________
* kill-files, watch-lists, favorites, and more.. www.recgroups.com



 
Date: 06 Dec 2008 16:45:36
From: Schmedley
Subject: Re: Please hold on to yur cash

"Arlo-Payne" <arlo_payne@hotmail.com > wrote in message
news:j95q06x3tp.ln2@recgroups.com...
> Yes folks we are heading straight into a depression.
>
> As example I read the banks were planning on closing 1 trillon credit card
> accounts (about half of all cards out there)
> Well I saw the first hit yesterday. I had one card I only used for online
> stuff. It had a small limit around $700. I figured by using it the most
> I could get burned for if someone else used it was a few hundred. Well I
> just got notice it is now closed. Trust me if they close one of my
> accounts they will close anyones. My credit rating well lets just say it
> is over 750.
>

Here are two articles that reference this:

http://www.creditcards.com/credit-card-news/issuers-closing-dormant-inactive-credit-card-accounts-1267.php

http://www.reuters.com/article/wtMostRead/idUSTRE4B01HI20081201?pageNumber=2&virtualBrandChannel=0

From this it seems the issuers are concentrating on the dormant account and
small line nuisance accounts (like your $700 line). there was a time when
issuers like Capital One opened a huge number of these kind of accounts.
One of the marketing ideas was to get marginally qualified applicants to
open one of the accounts, trap them with killer rates and overdraft fees,
then bail them out with a new small line. Then repeat. Of course, this is
not your story, with a 750 FICO.

If you have more accounts like this it might be time to close them out "at
your request," as it supposedly looks better on your report. I don't know
the answer to your ID theft concern, except to moniter the account you use
on line religiously. And never use your MAC for online purchases.

At some point I am sure they will come for those who have some of the
really obscenly high lines.



 
Date: 06 Dec 2008 13:04:18
From: XaQ Morphy
Subject: Re: Please hold on to yur cash
On Dec 6 2008 5:46 AM, Arlo-Payne wrote:

> Anyway hold onto your money things might get reall real bad.

WTF Arlo, first you tell us to go out and spend all our money on some
hairbrained get rich quick scheme, and now we're not supposed to spend it?
What are we supposed to do with all this cash we're swimming in now?

Ooh wait nevermind, the 200/400 PLO game on FTP is filling up, gotta go!

---
Morphy
xaqmorphy@donkeymanifesto.com
http://www.donkeymanifesto.com
"SHUT UP IDIOT" --The Great Patholio

______________________________________________________________________
RecGroups : the community-oriented newsreader : www.recgroups.com




 
Date: 06 Dec 2008 10:12:07
From: johnny_t
Subject: Re: Please hold on to yur cash
Arlo-Payne wrote:
> Yes folks we are heading straight into a depression.

Dammit, I just bought a new A4. It is so pretty. And anyways it is by
far the best Iphone accessory out there.

At anyrate, I don't think so. Yes credit supply is tightening up. But
now that we are going to put entire industries on the dole, and we have
no idea how to say no. We are all going to hell in a handbasket. But
it will take about 15 years. And it will be DEEP. But if Eris does
us in, I don't think it will matter much. And at least the new toy will
keep back some of the tears.


  
Date: 06 Dec 2008 15:28:51
From: Bill T
Subject: Re: Please hold on to yur cash
On 12/6/2008 10:12, johnny_t wrote:
> Arlo-Payne wrote:
>> Yes folks we are heading straight into a depression.
>
> Dammit, I just bought a new A4. It is so pretty. And anyways it is by
> far the best Iphone accessory out there.
>


Congrats! I had an A4 earlier and now have an A3. They are great cars
- smooth, sporty, and great-looking. Plus, they aren't as ostentatious
as BMW's or Mercedes.


Bill


   
Date: 06 Dec 2008 17:06:17
From: johnny_t
Subject: Re: Please hold on to yur cash
Bill T wrote:

> Congrats! I had an A4 earlier and now have an A3. They are great cars
> - smooth, sporty, and great-looking. Plus, they aren't as ostentatious
> as BMW's or Mercedes.

Thanks! I just spent the day doing our part to bring on Peak Oil. Jeez
she runs smooth!

My wife will enjoy it.


   
Date: 06 Dec 2008 16:15:26
From: XaQ Morphy
Subject: Re: Please hold on to yur cash
On Dec 6 2008 5:28 PM, Bill T wrote:

> Congrats! I had an A4 earlier and now have an A3.

I usually fold both A4 and A3. Generally speaking of course.

---
Morphy
xaqmorphy@donkeymanifesto.com
http://www.donkeymanifesto.com
"SHUT UP IDIOT" --The Great Patholio

______________________________________________________________________
: the next generation of web-newsreaders : http://www.recgroups.com



    
Date: 06 Dec 2008 17:08:32
From: johnny_t
Subject: Re: Please hold on to yur cash
XaQ Morphy wrote:

>
> I usually fold both A4 and A3. Generally speaking of course.

It was funny the first few times. You do know that the research on
Poker Room has both of these suited as being positive EV in position right?


    
Date: 06 Dec 2008 16:32:03
From: Bill T
Subject: Re: Please hold on to yur cash
On 12/6/2008 16:15, XaQ Morphy wrote:
> On Dec 6 2008 5:28 PM, Bill T wrote:
>
>> Congrats! I had an A4 earlier and now have an A3.
>
> I usually fold both A4 and A3. Generally speaking of course.


Heh. Smart move.



  
Date: 06 Dec 2008 13:31:24
From: DELETETHIS
Subject: Re: Please hold on to yur cash
looked at an A8 not long ago - damn fine looking car but just too much
money. I saw an A4 while I was there but did not look at is closely but
seemed pretty nice for a small car. I guess I will just stay with my Yugo

johnny_t wrote:
> Arlo-Payne wrote:
>> Yes folks we are heading straight into a depression.
>
> Dammit, I just bought a new A4. It is so pretty. And anyways it is by
> far the best Iphone accessory out there.
>
> At anyrate, I don't think so. Yes credit supply is tightening up. But
> now that we are going to put entire industries on the dole, and we have
> no idea how to say no. We are all going to hell in a handbasket. But
> it will take about 15 years. And it will be DEEP. But if Eris does
> us in, I don't think it will matter much. And at least the new toy will
> keep back some of the tears.


   
Date: 06 Dec 2008 14:35:23
From: A Man Beaten by Jacks
Subject: Re: Please hold on to yur cash
On Sat, 06 Dec 2008 13:31:24 -0600, DELETETHIS
<"minus200(DELETETHIS)"@bellsouth.net > wrote:

>looked at an A8 not long ago - damn fine looking car but just too much
>money. I saw an A4 while I was there but did not look at is closely but
>seemed pretty nice for a small car. I guess I will just stay with my Yugo

Wouldn't want to crash an A4 into an A8. You're dominated and your
only chance to survive is if you hit your kicker.


    
Date: 06 Dec 2008 12:10:28
From: Jason Pawloski
Subject: Re: Please hold on to yur cash
On Dec 6 2008 12:35 PM, A Man Beaten by Jacks wrote:

> On Sat, 06 Dec 2008 13:31:24 -0600, DELETETHIS
> <"minus200(DELETETHIS)"@bellsouth.net> wrote:
>
> >looked at an A8 not long ago - damn fine looking car but just too much
> >money. I saw an A4 while I was there but did not look at is closely but
> >seemed pretty nice for a small car. I guess I will just stay with my Yugo
>
> Wouldn't want to crash an A4 into an A8. You're dominated and your
> only chance to survive is if you hit your kicker.

But that A4 has straight possibilities!

--
"Actually, I will read Jason's posts too. He's smart also." - Paul
Popinjay, 10/21/2007 (http://tinyurl.com/4bggyp)

________________________________________________________________________
RecGroups : the community-oriented newsreader : www.recgroups.com




 
Date: 06 Dec 2008 09:22:41
From: risky biz
Subject: Re: Please hold on to yur cash
On Dec 6 2008 4:46 AM, Arlo-Payne wrote:

> Yes folks we are heading straight into a depression.
>
> As example I read the banks were planning on closing 1 trillon credit card
> accounts (about half of all cards out there)
> Well I saw the first hit yesterday. I had one card I only used for online
> stuff. It had a small limit around $700. I figured by using it the most
> I could get burned for if someone else used it was a few hundred. Well I
> just got notice it is now closed. Trust me if they close one of my
> accounts they will close anyones. My credit rating well lets just say it
> is over 750.
>
> People unless you are 150% sure you will not lose your job cut back on
> your spending of your money. Last month over 500,000 people were laid off
> due to no fault of their own.
>
> As another example we just had to take some land back. Sold it to a
> doctor with a good rating.
> We worked with him and carried the paper for a year with the understanding
> he would get alaon on the land after a year. He had apartments up for
> sell and needed to clear those payments before getting a land loan. Well
> he sold the apartments but whne he went to the bank they were just flat
> out not loaning money to anyone for land. He told us even the old
> standard 80% loans were now very hard to get.
>
> Anyway hold onto your money things might get reall real bad.

I'm not worried about it. I put everything in AIG.

________________________________________________________________________
: the next generation of web-newsreaders : http://www.recgroups.com



  
Date: 06 Dec 2008 15:27:53
From: ChrisRobin
Subject: Re: Please hold on to yur cash
On Dec 6 2008 12:22 PM, risky biz wrote:

> On Dec 6 2008 4:46 AM, Arlo-Payne wrote:
>
> > Yes folks we are heading straight into a depression.
> >
> > As example I read the banks were planning on closing 1 trillon credit card
> > accounts (about half of all cards out there)
> > Well I saw the first hit yesterday. I had one card I only used for online
> > stuff. It had a small limit around $700. I figured by using it the most
> > I could get burned for if someone else used it was a few hundred. Well I
> > just got notice it is now closed. Trust me if they close one of my
> > accounts they will close anyones. My credit rating well lets just say it
> > is over 750.
> >
> > People unless you are 150% sure you will not lose your job cut back on
> > your spending of your money. Last month over 500,000 people were laid off
> > due to no fault of their own.
> >
> > As another example we just had to take some land back. Sold it to a
> > doctor with a good rating.
> > We worked with him and carried the paper for a year with the understanding
> > he would get alaon on the land after a year. He had apartments up for
> > sell and needed to clear those payments before getting a land loan. Well
> > he sold the apartments but whne he went to the bank they were just flat
> > out not loaning money to anyone for land. He told us even the old
> > standard 80% loans were now very hard to get.
> >
> > Anyway hold onto your money things might get reall real bad.
>
> I'm not worried about it. I put everything in AIG.

Heh. You beat me to the punch.

--------
: the next generation of web-newsreaders : http://www.recgroups.com



  
Date: 06 Dec 2008 10:31:27
From: johnny_t
Subject: Re: Please hold on to yur cash
risky biz wrote:

> I'm not worried about it. I put everything in AIG.

I think it is only 10 more months to go, and you'll be swimming in WSOP
entries! Don't peak at your bank statement until then though.


   
Date: 06 Dec 2008 22:17:55
From: Ernie Lazlo
Subject: Re: Please hold on to yur cash
johnny_t <nobodyis@home.com > wrote in news:0026a1fc$0$12327$c3e8da3
@news.astraweb.com:

> risky biz wrote:
>
>> I'm not worried about it. I put everything in AIG.
>
> I think it is only 10 more months to go, and you'll be swimming in WSOP
> entries! Don't peak at your bank statement until then though.

Some Nigerian guy is trying to get money out of his country and will pay me
a lot for my help. KA-CHING!!!

Ernie


 
Date: 06 Dec 2008 11:16:20
From: Irish Mike
Subject: Re: Please hold on to yur cash

"Arlo-Payne" <arlo_payne@hotmail.com > wrote in message
news:j95q06x3tp.ln2@recgroups.com...
> Yes folks we are heading straight into a depression.

We're already in a recession. However, it is no where near as bad as the
"great depression" of the 1930's.
>
> As example I read the banks were planning on closing 1 trillon credit card
> accounts (about half of all cards out there)

And it's about time! This whole financial mess started with banks getting
greedy and making loans and giving mortgages to people who shouldn't have
qualified for a pup tent!

> Well I saw the first hit yesterday. I had one card I only used for online
> stuff. It had a small limit around $700. I figured by using it the most
> I could get burned for if someone else used it was a few hundred. Well I
> just got notice it is now closed. Trust me if they close one of my
> accounts they will close anyones. My credit rating well lets just say it
> is over 750.

Not bragging but my credit rating is extremely high. Not only is my credit
card account not being closed, I got an offer in the mail yesterday to raise
my limit. However, I'm one of those old fashioned, out of date guys who
pays off any credit card balance every month and never pay any interest.
The only difference I've noticed is that I'm not getting two or three
unsolicited offers each week to open new "pre-approved" credit card
accounts.
>
> People unless you are 150% sure you will not lose your job cut back on
> your spending of your money. Last month over 500,000 people were laid off
> due to no fault of their own.

The curent national unemployment rate is about 7%, and of those some are
chronic welfare cases who wouldn't take a job if it was offered. By
comparison, during the "great depression" of the 1930s, the national
unemployment rate was around 25%. However, no doubt there are a lot of hard
working people out there who have lost their jobs and really need to find a
new one. The best way to address that issue is for Obama to announce no new
tax increases, lower business and corporate taxes and cut the capital gains
tax to zero - at least for the next three years.
>
> As another example we just had to take some land back. Sold it to a
> doctor with a good rating.
> We worked with him and carried the paper for a year with the understanding
> he would get alaon on the land after a year. He had apartments up for
> sell and needed to clear those payments before getting a land loan. Well
> he sold the apartments but whne he went to the bank they were just flat
> out not loaning money to anyone for land. He told us even the old
> standard 80% loans were now very hard to get.
>
> Anyway hold onto your money things might get reall real bad.

Yeah, people might also try not buying any thing they can't pay cash for. I
realize I'm "old school" but that's the way my immigrant parents lived and
that's the way they taught me to manage my money. It's only in times like
these when you realize what good advice that really is. Keep the faith
bucko, this too shall pass and the sun will shine again.

Irish Mike




  
Date: 07 Dec 2008 02:07:33
From: Pepe Papon
Subject: Re: Please hold on to yur cash
On Sat, 6 Dec 2008 11:16:20 -0500, "Irish Mike"
<mjostar@ameritech.net > wrote:

>The curent national unemployment rate is about 7%, and of those some are
>chronic welfare cases who wouldn't take a job if it was offered.

Mike's right on top of things as usual. The unemployment rate
measure the number of people who are actively looking for a job.
People who are not actively seeking employment are not factored into
the unemployment rate.


  
Date: 06 Dec 2008 15:27:14
From: ChrisRobin
Subject: Re: Please hold on to yur cash
On Dec 6 2008 11:16 AM, Irish Mike wrote:

> "Arlo-Payne" <arlo_payne@hotmail.com> wrote in message
> news:j95q06x3tp.ln2@recgroups.com...
> > Yes folks we are heading straight into a depression.
>
> We're already in a recession. However, it is no where near as bad as the
> "great depression" of the 1930's.

Right now, it's not. But it will be. The worst of it is still to come.

> > As example I read the banks were planning on closing 1 trillon credit card
> > accounts (about half of all cards out there)
>
> And it's about time! This whole financial mess started with banks getting
> greedy and making loans and giving mortgages to people who shouldn't have
> qualified for a pup tent!

It was the trigger, but not the root cause.

> > Well I saw the first hit yesterday. I had one card I only used for online
> > stuff. It had a small limit around $700. I figured by using it the most
> > I could get burned for if someone else used it was a few hundred. Well I
> > just got notice it is now closed. Trust me if they close one of my
> > accounts they will close anyones. My credit rating well lets just say it
> > is over 750.
>
> Not bragging but my credit rating is extremely high. Not only is my credit
> card account not being closed, I got an offer in the mail yesterday to raise
> my limit. However, I'm one of those old fashioned, out of date guys who
> pays off any credit card balance every month and never pay any interest.
> The only difference I've noticed is that I'm not getting two or three
> unsolicited offers each week to open new "pre-approved" credit card
> accounts.

My wife and I are the perfect examples of what's happening right now. Like
you, I pay my balance off every month and pay no interest. They just
lowered my interest rate to 4.99% and increased my credit limit by a few
thousand.

My wife, on the other hand, is chipping away at a significant amount of cc
debt ($6,000); she pays well over the minimum every month. She got a
letter from Citi telling her she could opt out of her card, otherwise her
interest rate was going to get jacked up an additional 7%. Of course by
opting out, she would have to pay off the balance immediately. These
fuckers are shameless destroy the economy with their bizarre financial
products, extort billions from the government to bail them out, and then
tighten the screws on consumers. The people running these companies should
be in jail.

> > People unless you are 150% sure you will not lose your job cut back on
> > your spending of your money. Last month over 500,000 people were laid off
> > due to no fault of their own.
>
> The curent national unemployment rate is about 7%, and of those some are
> chronic welfare cases who wouldn't take a job if it was offered. By
> comparison, during the "great depression" of the 1930s, the national
> unemployment rate was around 25%. However, no doubt there are a lot of hard
> working people out there who have lost their jobs and really need to find a
> new one. The best way to address that issue is for Obama to announce no new
> tax increases, lower business and corporate taxes and cut the capital gains
> tax to zero - at least for the next three years.

The government's "official" unemployment rate (U-3) is useless, because it
doesn't measure the number of people who are unemployed and have given up
on finding a job. The actual unemployment rate (U-6), IIRC, is around 12%
and rose by a full percentage point over the last month. The economic
malaise's effects are increasing in speed. It's pretty fucking scary.

> > As another example we just had to take some land back. Sold it to a
> > doctor with a good rating.
> > We worked with him and carried the paper for a year with the understanding
> > he would get alaon on the land after a year. He had apartments up for
> > sell and needed to clear those payments before getting a land loan. Well
> > he sold the apartments but whne he went to the bank they were just flat
> > out not loaning money to anyone for land. He told us even the old
> > standard 80% loans were now very hard to get.
> >
> > Anyway hold onto your money things might get reall real bad.
>
> Yeah, people might also try not buying any thing they can't pay cash for. I
> realize I'm "old school" but that's the way my immigrant parents lived and
> that's the way they taught me to manage my money. It's only in times like
> these when you realize what good advice that really is. Keep the faith
> bucko, this too shall pass and the sun will shine again.

I hope you're right, but I really don't think so. This crisis is more
about "peak oil" energy scarcity than it is about anything. Capitalism
is built on a model of eternal growth. Without increasing the available
energy supplies, the current economic paradigm is doomed. Here's what I
see in our grim future: resource wars (and likely a world war), food
riots, and poverty on a level that surpasses the 1930s. Unless we rebuild
our economy on a sustainability model, the convulsions are going to get
more violent, not less.

I think the powers that be recognized this, and that the current financial
crisis was manufactured to bring about an intentional crash. Demand
destruction is the operative phrase. What we're witnessing is the opening
act in a global play to "thin the herd." Global population control. There
simply isn't enough energy available to support 6 billion people.

______________________________________________________________________
looking for a better newsgroup-reader? - www.recgroups.com




   
Date: 07 Dec 2008 00:41:34
From: Schmedley
Subject: Re: Please hold on to yur cash

"ChrisRobin" <a9dbf1e@webnntp.invalid > wrote in message
news:iber06xrtu.ln2@recgroups.com...
> On Dec 6 2008 11:16 AM, Irish Mike wrote:
>
>
> My wife, on the other hand, is chipping away at a significant amount of cc
> debt ($6,000); she pays well over the minimum every month. She got a
> letter from Citi telling her she could opt out of her card, otherwise her
> interest rate was going to get jacked up an additional 7%. Of course by
> opting out, she would have to pay off the balance immediately.


That is just not correct, at least from the overwhelming number of
authorities I have seen. If you opt out, you don't have to pay the card
off immediately, you get to pay it under the current terms at the old rates.
You just cannot use it anymore. Once you are paid in full, they close the
account.



    
Date: 07 Dec 2008 00:54:48
From: ChrisRobin
Subject: Re: Please hold on to yur cash
On Dec 7 2008 12:41 AM, Schmedley wrote:

> "ChrisRobin" <a9dbf1e@webnntp.invalid> wrote in message
> news:iber06xrtu.ln2@recgroups.com...
> > On Dec 6 2008 11:16 AM, Irish Mike wrote:
> >
> >
> > My wife, on the other hand, is chipping away at a significant amount of cc
> > debt ($6,000); she pays well over the minimum every month. She got a
> > letter from Citi telling her she could opt out of her card, otherwise her
> > interest rate was going to get jacked up an additional 7%. Of course by
> > opting out, she would have to pay off the balance immediately.
>
>
> That is just not correct, at least from the overwhelming number of
> authorities I have seen. If you opt out, you don't have to pay the card
> off immediately, you get to pay it under the current terms at the old rates.
> You just cannot use it anymore. Once you are paid in full, they close the
> account.

I believe that is true, up until the card's expiration date. The hitch is
that her's expires next month. Sorry, neglected detail. :(

_____________________________________________________________________
* kill-files, watch-lists, favorites, and more.. www.recgroups.com



     
Date: 07 Dec 2008 16:40:01
From: Schmedley
Subject: Re: Please hold on to yur cash

"ChrisRobin" <a9dbf1e@webnntp.invalid > wrote in message
news:ojfs06xn02.ln2@recgroups.com...
> On Dec 7 2008 12:41 AM, Schmedley wrote:
>
>> "ChrisRobin" <a9dbf1e@webnntp.invalid> wrote in message
>> news:iber06xrtu.ln2@recgroups.com...
>> > On Dec 6 2008 11:16 AM, Irish Mike wrote:
>> >
>> >
>> > My wife, on the other hand, is chipping away at a significant amount of
>> > cc
>> > debt ($6,000); she pays well over the minimum every month. She got a
>> > letter from Citi telling her she could opt out of her card, otherwise
>> > her
>> > interest rate was going to get jacked up an additional 7%. Of course by
>> > opting out, she would have to pay off the balance immediately.
>>
>>
>> That is just not correct, at least from the overwhelming number of
>> authorities I have seen. If you opt out, you don't have to pay the card
>> off immediately, you get to pay it under the current terms at the old
>> rates.
>> You just cannot use it anymore. Once you are paid in full, they close
>> the
>> account.
>
> I believe that is true, up until the card's expiration date. The hitch is
> that her's expires next month. Sorry, neglected detail. :(
>
>

Hmmm. Here is the Citi language on one I got. This is a little different
than others I have seen:

"If you opt out of these changes, you may use your account under the current
terms until the end of your current membership year or the expiration date
on your card, whichever is later. We will close the account at that time.
You must then repay the balance under the current terms."

Other optouts I have seen froze your card at the time you opted. Then if
you tried to use it, the new terms would take effect on the whole balance
(gotcha). Or sometimes the card would be restricted and no new charges were
allowed.

I would call Citi back and check this, as paying off $6k at once is
something I have never heard of. The Citi language I have cited seems clear
enough that you don't have a balloon payment at the expiration of the
card.

GL dealing with these pirates. And if the entry level calling center dude
is no help, try going to the supervisor. His name is Mr. Singh.



      
Date: 07 Dec 2008 21:44:35
From: johnny_t
Subject: Re: Please hold on to yur cash
Schmedley wrote:

>
> GL dealing with these pirates. And if the entry level calling center
> dude is no help, try going to the supervisor. His name is Mr. Singh.

That is Kenny Singh.


   
Date: 07 Dec 2008 00:36:33
From: Fred
Subject: Re: Please hold on to yur cash
"ChrisRobin" <a9dbf1e@webnntp.invalid > wrote in
news:iber06xrtu.ln2@recgroups.com:

> My wife, on the other hand, is chipping away at a significant amount
> of cc debt ($6,000); she pays well over the minimum every month. She
> got a letter from Citi telling her she could opt out of her card,
> otherwise her interest rate was going to get jacked up an additional
> 7%. Of course by opting out, she would have to pay off the balance
> immediately. These fuckers are shameless destroy the economy with
> their bizarre financial products, extort billions from the government
> to bail them out, and then tighten the screws on consumers. The people
> running these companies should be in jail.

My Wife got the same letter. She called CitiBank to opt-out and was told
that everyone got one of those letters regardless of credit history. Good
way to increase sales, drive away a lot of your customers.

Fred.


    
Date: 06 Dec 2008 16:55:33
From: Bill T
Subject: Re: Please hold on to yur cash
On 12/6/2008 16:36, Fred wrote:
> "ChrisRobin"<a9dbf1e@webnntp.invalid> wrote in
> news:iber06xrtu.ln2@recgroups.com:
>
>> My wife, on the other hand, is chipping away at a significant amount
>> of cc debt ($6,000); she pays well over the minimum every month. She
>> got a letter from Citi telling her she could opt out of her card,
>> otherwise her interest rate was going to get jacked up an additional
>> 7%. Of course by opting out, she would have to pay off the balance
>> immediately. These fuckers are shameless destroy the economy with
>> their bizarre financial products, extort billions from the government
>> to bail them out, and then tighten the screws on consumers. The people
>> running these companies should be in jail.
>
> My Wife got the same letter. She called CitiBank to opt-out and was told
> that everyone got one of those letters regardless of credit history. Good
> way to increase sales, drive away a lot of your customers.
>


This sounds amazing to me. If anyone owes 6000 to a credit card company
that he cannot pay off immediately, then he is screwed. It's not the
economy, the evil finance companies, the world-wide conspiracy - you owe
$6000.




     
Date: 06 Dec 2008 20:44:29
From: ChrisRobin
Subject: Re: Please hold on to yur cash
On Dec 6 2008 7:55 PM, Bill T wrote:

> On 12/6/2008 16:36, Fred wrote:
> > "ChrisRobin"<a9dbf1e@webnntp.invalid> wrote in
> > news:iber06xrtu.ln2@recgroups.com:
> >
> >> My wife, on the other hand, is chipping away at a significant amount
> >> of cc debt ($6,000); she pays well over the minimum every month. She
> >> got a letter from Citi telling her she could opt out of her card,
> >> otherwise her interest rate was going to get jacked up an additional
> >> 7%. Of course by opting out, she would have to pay off the balance
> >> immediately. These fuckers are shameless destroy the economy with
> >> their bizarre financial products, extort billions from the government
> >> to bail them out, and then tighten the screws on consumers. The people
> >> running these companies should be in jail.
> >
> > My Wife got the same letter. She called CitiBank to opt-out and was told
> > that everyone got one of those letters regardless of credit history. Good
> > way to increase sales, drive away a lot of your customers.
> >
>
>
> This sounds amazing to me. If anyone owes 6000 to a credit card company
> that he cannot pay off immediately, then he is screwed. It's not the
> economy, the evil finance companies, the world-wide conspiracy - you owe
> $6000.

No one said it couldn't be paid off immediately, if need be.

______________________________________________________________________
RecGroups : the community-oriented newsreader : www.recgroups.com




      
Date: 06 Dec 2008 20:56:29
From: Bill T
Subject: Re: Please hold on to yur cash
I just asked my Credit card company to increase my limit from $25K to
$35K. They refuse.

Bastards.





       
Date: 07 Dec 2008 01:23:38
From: Irish Mike
Subject: Re: Please hold on to yur cash

"Bill T" <wctom1@pacbell.net > wrote in message
news:493b1d25$0$5551$9a6e19ea@news.newshosting.com...
>I just asked my Credit card company to increase my limit from $25K to $35K.
>They refuse.
>
> Bastards.

Pay your bill, Bill.

Irish Mike




        
Date: 06 Dec 2008 22:40:18
From: Bill T
Subject: Re: Please hold on to yur cash
On 12/6/2008 22:23, Irish Mike wrote:
> "Bill T"<wctom1@pacbell.net> wrote in message
> news:493b1d25$0$5551$9a6e19ea@news.newshosting.com...
>> I just asked my Credit card company to increase my limit from $25K to $35K.
>> They refuse.
>>
>> Bastards.
>
> Pay your bill, Bill.



I pay it all every month. I was just curious as to how much
high-interest, non-collateralized, month-to-month credit I can get.


         
Date: 07 Dec 2008 07:14:08
From: Beldin the Sorcerer
Subject: Re: Please hold on to yur cash

"Bill T" <wctom1@pacbell.net > wrote in message
news:493b357a$0$5546$9a6e19ea@news.newshosting.com...
> On 12/6/2008 22:23, Irish Mike wrote:
>> "Bill T"<wctom1@pacbell.net> wrote in message
>> news:493b1d25$0$5551$9a6e19ea@news.newshosting.com...
>>> I just asked my Credit card company to increase my limit from $25K to
>>> $35K.
>>> They refuse.
>>>
>>> Bastards.
>>
>> Pay your bill, Bill.
>
>
>
> I pay it all every month. I was just curious as to how much
> high-interest, non-collateralized, month-to-month credit I can get.
I've got over 50k in my pocket.

I'd never use it, of course




          
Date: 06 Dec 2008 23:25:11
From: Bill T
Subject: Re: Please hold on to yur cash
On 12/6/2008 23:14, Beldin the Sorcerer wrote:
> "Bill T"<wctom1@pacbell.net> wrote in message
> news:493b357a$0$5546$9a6e19ea@news.newshosting.com...
>> On 12/6/2008 22:23, Irish Mike wrote:
>>> "Bill T"<wctom1@pacbell.net> wrote in message
>>> news:493b1d25$0$5551$9a6e19ea@news.newshosting.com...
>>>> I just asked my Credit card company to increase my limit from $25K to
>>>> $35K.
>>>> They refuse.
>>>>
>>>> Bastards.
>>> Pay your bill, Bill.
>>
>>
>> I pay it all every month. I was just curious as to how much
>> high-interest, non-collateralized, month-to-month credit I can get.
> I've got over 50k in my pocket.
>
> I'd never use it, of course


You got me beat. Right now I have $65.25 in my pocket


           
Date: 07 Dec 2008 09:02:14
From: Beldin the Sorcerer
Subject: Re: Please hold on to yur cash

"Bill T" <wctom1@pacbell.net > wrote in message
news:493b3ffe$0$5538$9a6e19ea@news.newshosting.com...
> On 12/6/2008 23:14, Beldin the Sorcerer wrote:
>> "Bill T"<wctom1@pacbell.net> wrote in message
>> news:493b357a$0$5546$9a6e19ea@news.newshosting.com...
>>> On 12/6/2008 22:23, Irish Mike wrote:
>>>> "Bill T"<wctom1@pacbell.net> wrote in message
>>>> news:493b1d25$0$5551$9a6e19ea@news.newshosting.com...
>>>>> I just asked my Credit card company to increase my limit from $25K to
>>>>> $35K.
>>>>> They refuse.
>>>>>
>>>>> Bastards.
>>>> Pay your bill, Bill.
>>>
>>>
>>> I pay it all every month. I was just curious as to how much
>>> high-interest, non-collateralized, month-to-month credit I can get.
>> I've got over 50k in my pocket.
>>
>> I'd never use it, of course
>
>
> You got me beat. Right now I have $65.25 in my pocket
No, no.
50k in high interest (etc, etc)

Not in cash




       
Date: 06 Dec 2008 21:12:18
From: ChrisRobin
Subject: Re: Please hold on to yur cash
On Dec 6 2008 11:56 PM, Bill T wrote:

> I just asked my Credit card company to increase my limit from $25K to
> $35K. They refuse.
>
> Bastards.

Um, my condolences.

--------
looking for a better newsgroup-reader? - www.recgroups.com




  
Date: 06 Dec 2008 14:59:10
From: MZB
Subject: Re: Please hold on to yur cash
Mike:

Every once in awhile I agree with you.
I have a stellar credit rating and I NEVER have an interest charge on my
credit cards. I pay them off every month.

I think the credit card crisis will be the next major crisis. Within months
that's what we will be reading about (it's overshadowed, currently, by the
auto situation). So, let them close those accounts.

Gee, people might have to adjust to a new concept: if you can't afford it,
don't buy it. Let them pay cash! Of course some will have to relearn the
concept of balancing a checking account, too!

Where I disagree with you, Mike, is your minimalization of the current
crisis. I do think the auto companies will get bailed out. But that might
only delay the inevitable. I hope I'm wrong. But I foresee at least one of
the companies going bankrupt or effectively going bankrupt. The ripple
effect will be tremendous. I see much higher unemployment within a few
months.

Hope I'm wrong. It will take Obama many years to help us recover from the
Bushwacked economy.

Mel


"Irish Mike" <mjostar@ameritech.net > wrote in message
news:rzx_k.10332$ZP4.10279@nlpi067.nbdc.sbc.com...
>
> "Arlo-Payne" <arlo_payne@hotmail.com> wrote in message
> news:j95q06x3tp.ln2@recgroups.com...
>> Yes folks we are heading straight into a depression.
>
> We're already in a recession. However, it is no where near as bad as the
> "great depression" of the 1930's.
>>
>> As example I read the banks were planning on closing 1 trillon credit
>> card
>> accounts (about half of all cards out there)
>
> And it's about time! This whole financial mess started with banks getting
> greedy and making loans and giving mortgages to people who shouldn't have
> qualified for a pup tent!
>
>> Well I saw the first hit yesterday. I had one card I only used for
>> online
>> stuff. It had a small limit around $700. I figured by using it the most
>> I could get burned for if someone else used it was a few hundred. Well I
>> just got notice it is now closed. Trust me if they close one of my
>> accounts they will close anyones. My credit rating well lets just say it
>> is over 750.
>
> Not bragging but my credit rating is extremely high. Not only is my
> credit card account not being closed, I got an offer in the mail yesterday
> to raise my limit. However, I'm one of those old fashioned, out of date
> guys who pays off any credit card balance every month and never pay any
> interest. The only difference I've noticed is that I'm not getting two or
> three unsolicited offers each week to open new "pre-approved" credit card
> accounts.
>>
>> People unless you are 150% sure you will not lose your job cut back on
>> your spending of your money. Last month over 500,000 people were laid
>> off
>> due to no fault of their own.
>
> The curent national unemployment rate is about 7%, and of those some are
> chronic welfare cases who wouldn't take a job if it was offered. By
> comparison, during the "great depression" of the 1930s, the national
> unemployment rate was around 25%. However, no doubt there are a lot of
> hard working people out there who have lost their jobs and really need to
> find a new one. The best way to address that issue is for Obama to
> announce no new tax increases, lower business and corporate taxes and cut
> the capital gains tax to zero - at least for the next three years.
>>
>> As another example we just had to take some land back. Sold it to a
>> doctor with a good rating.
>> We worked with him and carried the paper for a year with the
>> understanding
>> he would get alaon on the land after a year. He had apartments up for
>> sell and needed to clear those payments before getting a land loan. Well
>> he sold the apartments but whne he went to the bank they were just flat
>> out not loaning money to anyone for land. He told us even the old
>> standard 80% loans were now very hard to get.
>>
>> Anyway hold onto your money things might get reall real bad.
>
> Yeah, people might also try not buying any thing they can't pay cash for.
> I realize I'm "old school" but that's the way my immigrant parents lived
> and that's the way they taught me to manage my money. It's only in times
> like these when you realize what good advice that really is. Keep the
> faith bucko, this too shall pass and the sun will shine again.
>
> Irish Mike
>




   
Date: 06 Dec 2008 15:30:52
From: Irish Mike
Subject: Re: Please hold on to yur cash

"MZB" <moo@noway.prudigy.net > wrote in message
news:gQA_k.1924$Xt.1352@newsfe13.iad...
> Mike:
>
> Every once in awhile I agree with you.
> I have a stellar credit rating and I NEVER have an interest charge on my
> credit cards. I pay them off every month.
>
> I think the credit card crisis will be the next major crisis. Within
> months that's what we will be reading about (it's overshadowed, currently,
> by the auto situation). So, let them close those accounts.
>
> Gee, people might have to adjust to a new concept: if you can't afford it,
> don't buy it. Let them pay cash! Of course some will have to relearn the
> concept of balancing a checking account, too!
>
> Where I disagree with you, Mike, is your minimalization of the current
> crisis. I do think the auto companies will get bailed out. But that might
> only delay the inevitable. I hope I'm wrong. But I foresee at least one of
> the companies going bankrupt or effectively going bankrupt. The ripple
> effect will be tremendous. I see much higher unemployment within a few
> months.
>
> Hope I'm wrong. It will take Obama many years to help us recover from the
> Bushwacked economy.
>
> Mel

The current crisis started with Democrats pushing entitlement loans and
requiring that F-MAE and F-MAC have up to half of their entire multi-billion
dollar portfolios made up of high risk subprime mortgages. This contributed
directly to the crash in the housing market. Bush fucked up by not standing
up to this Democrat entitlement insanity. The Democrats will bail out the
auto companies as political pay back to the U.A.W. If one or more of the
big three U.S. auto companies go bankrupt, it does not mean they go totally
out of business. It does mean they'll have to renegotiate all of their
union contracts. The fundamental problem is that a non-union American Honda
or Toyota employee makes about $40 an hour fully loaded. A U.A.W. employee
costs the US auto makers about $72 an hour fully loaded. Factor in union
feather-bedding rules and work stoppages and there's no way the big 3 can
really compete, no matter how good their cars are. The solution is to have
Obama announce no tax increases - period. And to cut business and corporate
taxes and eliminate the capital gains tax - at least for a few years. This
will stimulate business investment, create new jobs and get the economy back
on track. Unfortunately Obama doesn't plan to do any of these things.

Irish Mike

Second, down the banks throas
>
>
> "Irish Mike" <mjostar@ameritech.net> wrote in message
> news:rzx_k.10332$ZP4.10279@nlpi067.nbdc.sbc.com...
>>
>> "Arlo-Payne" <arlo_payne@hotmail.com> wrote in message
>> news:j95q06x3tp.ln2@recgroups.com...
>>> Yes folks we are heading straight into a depression.
>>
>> We're already in a recession. However, it is no where near as bad as the
>> "great depression" of the 1930's.
>>>
>>> As example I read the banks were planning on closing 1 trillon credit
>>> card
>>> accounts (about half of all cards out there)
>>
>> And it's about time! This whole financial mess started with banks
>> getting greedy and making loans and giving mortgages to people who
>> shouldn't have qualified for a pup tent!
>>
>>> Well I saw the first hit yesterday. I had one card I only used for
>>> online
>>> stuff. It had a small limit around $700. I figured by using it the
>>> most
>>> I could get burned for if someone else used it was a few hundred. Well
>>> I
>>> just got notice it is now closed. Trust me if they close one of my
>>> accounts they will close anyones. My credit rating well lets just say it
>>> is over 750.
>>
>> Not bragging but my credit rating is extremely high. Not only is my
>> credit card account not being closed, I got an offer in the mail
>> yesterday to raise my limit. However, I'm one of those old fashioned,
>> out of date guys who pays off any credit card balance every month and
>> never pay any interest. The only difference I've noticed is that I'm not
>> getting two or three unsolicited offers each week to open new
>> "pre-approved" credit card accounts.
>>>
>>> People unless you are 150% sure you will not lose your job cut back on
>>> your spending of your money. Last month over 500,000 people were laid
>>> off
>>> due to no fault of their own.
>>
>> The curent national unemployment rate is about 7%, and of those some are
>> chronic welfare cases who wouldn't take a job if it was offered. By
>> comparison, during the "great depression" of the 1930s, the national
>> unemployment rate was around 25%. However, no doubt there are a lot of
>> hard working people out there who have lost their jobs and really need to
>> find a new one. The best way to address that issue is for Obama to
>> announce no new tax increases, lower business and corporate taxes and cut
>> the capital gains tax to zero - at least for the next three years.
>>>
>>> As another example we just had to take some land back. Sold it to a
>>> doctor with a good rating.
>>> We worked with him and carried the paper for a year with the
>>> understanding
>>> he would get alaon on the land after a year. He had apartments up for
>>> sell and needed to clear those payments before getting a land loan.
>>> Well
>>> he sold the apartments but whne he went to the bank they were just flat
>>> out not loaning money to anyone for land. He told us even the old
>>> standard 80% loans were now very hard to get.
>>>
>>> Anyway hold onto your money things might get reall real bad.
>>
>> Yeah, people might also try not buying any thing they can't pay cash for.
>> I realize I'm "old school" but that's the way my immigrant parents lived
>> and that's the way they taught me to manage my money. It's only in times
>> like these when you realize what good advice that really is. Keep the
>> faith bucko, this too shall pass and the sun will shine again.
>>
>> Irish Mike
>>
>
>




    
Date: 06 Dec 2008 17:21:56
From: Clave
Subject: Re: Please hold on to yur cash
"Irish Mike" <mjostar@ameritech.net > wrote in message
news:5iB_k.1703$jZ1.1695@flpi144.ffdc.sbc.com...
>
> "MZB" <moo@noway.prudigy.net> wrote in message
> news:gQA_k.1924$Xt.1352@newsfe13.iad...
>> Mike:
>>
>> Every once in awhile I agree with you.
>> I have a stellar credit rating and I NEVER have an interest charge on my
>> credit cards. I pay them off every month.
>>
>> I think the credit card crisis will be the next major crisis. Within
>> months that's what we will be reading about (it's overshadowed,
>> currently, by the auto situation). So, let them close those accounts.
>>
>> Gee, people might have to adjust to a new concept: if you can't afford
>> it, don't buy it. Let them pay cash! Of course some will have to relearn
>> the concept of balancing a checking account, too!
>>
>> Where I disagree with you, Mike, is your minimalization of the current
>> crisis. I do think the auto companies will get bailed out. But that might
>> only delay the inevitable. I hope I'm wrong. But I foresee at least one
>> of the companies going bankrupt or effectively going bankrupt. The ripple
>> effect will be tremendous. I see much higher unemployment within a few
>> months.
>>
>> Hope I'm wrong. It will take Obama many years to help us recover from the
>> Bushwacked economy.
>>
>> Mel
>
> The current crisis started with Democrats...

<...blah, blah, blah... >




    
Date: 06 Dec 2008 14:51:08
From: johnny_t
Subject: Re: Please hold on to yur cash
Its not true.

The same crisis happens if the fed lowers interest rates so low after
9/11 and then waits 6 years to raise them. Whether or NOT any of the
litany of things you list happen or not.

Conversly if the fed had NOT lowered interest rates for so long, and
then raised them the crisis would NOT have happened regardless of the
litany of things that you list.

CDS's are not fundamentally bad. They are only bad if the market moves
dramatically. The fed rates is what did that.

ALL OF THAT happened on W's watch.

Geez, if there was ever a condemnation of Republican economics, it is
the last presidency that turned a giant list of positives about the
economy and world position into the worst economy in 2 generations, and
rumblings about 100 year events.

Sorry, your rambling, and repeating of lies, does NOT make them true,
nor provide cover to the Republican failure.


   
Date: 06 Dec 2008 12:29:00
From: mo_charles
Subject: Re: Please hold on to yur cash
> Hope I'm wrong. It will take Obama many years to help us recover from the
> Bushwacked economy.

how many years will it take for you to realize that the president doesn't
control the business cycle? another liberal looking for mama.

mo_charles

-------
: the next generation of web-newsreaders : http://www.recgroups.com



    
Date: 06 Dec 2008 15:09:18
From: ChrisRobin
Subject: Re: Please hold on to yur cash
On Dec 6 2008 3:29 PM, mo_charles wrote:

> > Hope I'm wrong. It will take Obama many years to help us recover from the
> > Bushwacked economy.
>
> how many years will it take for you to realize that the president doesn't
> control the business cycle? another liberal looking for mama.

Christ mo, you're in the midst of this financial hurricane, you have to
recognize the stupidity of this statement. This mess isn't the result of
anything pertaining to the business cycle. Not even close.

____________________________________________________________________
RecGroups : the community-oriented newsreader : www.recgroups.com




     
Date: 06 Dec 2008 15:32:00
From: mo_charles
Subject: Re: Please hold on to yur cash
> > how many years will it take for you to realize that the president doesn't
> > control the business cycle? another liberal looking for mama.
>
> Christ mo, you're in the midst of this financial hurricane, you have to
> recognize the stupidity of this statement. This mess isn't the result of
> anything pertaining to the business cycle. Not even close.

some magnitude of the problems can be blamed on governmental idiocy
(corruption plays too). the cyclical nature of the economy cannot.

mo_charles

--------
looking for a better newsgroup-reader? - www.recgroups.com




      
Date: 06 Dec 2008 16:03:34
From: ChrisRobin
Subject: Re: Please hold on to yur cash
On Dec 6 2008 6:32 PM, mo_charles wrote:

> > > how many years will it take for you to realize that the president doesn't
> > > control the business cycle? another liberal looking for mama.
> >
> > Christ mo, you're in the midst of this financial hurricane, you have to
> > recognize the stupidity of this statement. This mess isn't the result of
> > anything pertaining to the business cycle. Not even close.
>
> some magnitude of the problems can be blamed on governmental idiocy
> (corruption plays too). the cyclical nature of the economy cannot.

The business cycle is not responsible for unregulated derivatives markets
or the Fed's insane money manpulation/bubble creation policies. This is a
self-created mess.

_____________________________________________________________________
: the next generation of web-newsreaders : http://www.recgroups.com