OT: How long is long enough for unemployment benefits?

[ken361]

I feel for you guys that were making a grand or so a week, you can file for under employment also. I know someone who did and received almost what he was making.

[mfergel]

 

I feel for you guys that were making a grand or so a week, you can file for under employment also. I know someone who did and received almost what he was making.

 

 

Huh.....what is underemployment??? Didn't know that was something that can be filed for as well.

[ken361]

they have it here in Michigan atleast did, most people prb dont know about it. Say you were making a 1000 a week and unemployment pays 400, then you apply for under employment and receive almost what you were making.

[Ron Burgandy]

Sorry guys but the problem comes from the average citizen being complacent about what goes on in DC. All these appropriations, pet projects and bull{censored} like the bailouts were no interest to most (98%) of the public, so their representatives did what they wanted to do! The whole crisis thing was a sham. Citibank, BOA etc gets free money yet refused to reduce the rate of interest they collect from "people in need".. "those that lost their jobs".. etc etc. Here's free money from the public! Now jack those interest rates to 32% on the people's credit cards! Would have been cool to see them fail, then nobody would have had to pay their credit debts! Bail out the people that the govt inaction forced them to pay ludicrous credit fees! Ohh no, that can't happen. {censored} you DC! If Boeing bids a contract it should be final. Double and triple the costs in over runs and appropriating more money is total {censored}ing bull{censored}. They do it because our representatives all have pet projects and those things are bargaining chips they call cash in. Goldman was the ones behind the whole {censored}ing market crash and we bailed their asses out. Bail outs imo were a bad idea. Greed after greed after greed and it all went global! What was worse was letting these {censored}ing banks do what they wanted... there was no account to the money they received or how they spent it. Same with the stimulus. {censored} those banks in teh neck! Obama was supposed to save us all from this and make those people accountable??? HAHAHHAHAHHAHAHAHAAAA what a joke! Too many long term incumbents with ties to every {censored}ing scam wouldn't let that happen. We keep re-electing incumbents so we fail ourselves and get more of the same! I feel the same about this UE and other benefit handouts. Anyone receiving them should at least give something of their time back. Set up a system that requires those on benefits like welfare or UE to at least do something for their community. There are teachers collecting, factory workers, road workers, construction workers, etc. You mean to tell me that their states can't find anything for them to do????

 

 

uhhhh... you know all the major banks have repaid the bailout money, along with interest, right? You do understand that, right???

 

We're all solvent, acting on our own funds, and no longer under government control. In the end, the only thing the government intervention prevented was us normal people from getting the bonuses and recognition we earned through hard work. Everything was placed on hold for regular people until the bailout funds were repaid. So yeah, it was affecting those of us that are solidly in the middle class by not allowing annual raises, bonuses, etc. Those things that middle class America would refuse to go without, is what those of us under the banks had to deal with.

 

 

Yeah, you all really prevented some typical bank overspending by {censored}ing over your fellow Americans that earn the same wages you do, do the same type of work, have the same families to feed, etc.

 

The so-called fat cat executives were already making a killing, already had guaranteed bonus money in place, etc just like every other major company. You didn't kill off their Christmas money when bonus time came and went. You didn't squash their hopes when annual cost of living raises were denied. You didn't remove their financial incentive.

 

It's really {censored}in easy to point fingers when it's not your life being hit.

[la0tsu]

 

Sorry guys but the problem comes from the average citizen being complacent about what goes on in DC. All these appropriations, pet projects and bull{censored} like the bailouts were no interest to most (98%) of the public, so their representatives did what they wanted to do! The whole crisis thing was a sham. Citibank, BOA etc gets free money yet refused to reduce the rate of interest they collect from "people in need".. "those that lost their jobs".. etc etc. Here's free money from the public! Now jack those interest rates to 32% on the people's credit cards! Would have been cool to see them fail, then nobody would have had to pay their credit debts! Bail out the people that the govt inaction forced them to pay ludicrous credit fees! Ohh no, that can't happen. {censored} you DC!

 

 

While I don't disagree with the sentiment, that's not how it would work. Debts owed to the banks are assets to those banks, and would be sold off if the banks went bankrupt. Whoever bought them sure as hell would expect to continue to be paid.

[pioneerprogress]

 

While I don't disagree with the sentiment, that's not how it would work. Debts owed to the banks are assets to those banks, and would be sold off if the banks went bankrupt. Whoever bought them sure as hell would expect to continue to be paid.

 

 

Which would be bought for pennies on the dollar, and at the very least could probably be settled for half or less of the remaining principal.

[Ron Burgandy]

Which would be bought for pennies on the dollar, and at the very least could probably be settled for half or less of the remaining principal.

 

 

Mortgage debt doesn't even begin to work like collection companies buying credit card debt for pennies on the dollar. Maybe some pools of extremely subprime loans could get sold for a fraction of their value, but for the most part they're sold off to other servicers at market rate.

 

Mortgage backed securities don't play like that, and they don't get settled. You know when you first get your mortgage, and within a month or two you get your new coupon book through a new bank? That's all that happens when mortgage servicing/collecting rights are transferred/sold.

[thenakedarab]

This is a big misunderstanding people have about unemployment. It is not withheld from your check, it is one of the additional taxes your employer has to pay on you.

 

 

BS, it comes out of what the employer would be willing to pay for that work in the end, which is why economists use the argument that unemployment insurance (not TAX) depresses wages, and that workers would be better off pocketing the money, so long as they make rational decisions with it. This, of course, is also bull{censored} (well duh, an economist said it). Even if unemployment insurance was to end today the most you'd see in return from congress would be a minimal bump of the minimum wage. Most would never see a coin extra, well except management and ownership.

[HKSblade1]

 

uhhhh... you know all the major banks have repaid the bailout money, along with interest, right? You do understand that, right??? We're all solvent, acting on our own funds, and no longer under government control. In the end, the only thing the government intervention prevented was us normal people from getting the bonuses and recognition we earned through hard work. Everything was placed on hold for regular people until the bailout funds were repaid. So yeah, it was affecting those of us that are solidly in the middle class by not allowing annual raises, bonuses, etc. Those things that middle class America would refuse to go without, is what those of us under the banks had to deal with. Yeah, you all really prevented some typical bank overspending by {censored}ing over your fellow Americans that earn the same wages you do, do the same type of work, have the same families to feed, etc. The so-called fat cat executives were already making a killing, already had guaranteed bonus money in place, etc just like every other major company. You didn't kill off their Christmas money when bonus time came and went. You didn't squash their hopes when annual cost of living raises were denied. You didn't remove their financial incentive. It's really {censored}in easy to point fingers when it's not your life being hit .

 

 

Lost my job New Years 09.. yeah happy new {censored}ing year!! Forced to sell, got {censored} for my home, had to relocate... work two jobs until I got my own biz going.. family relocation with 2 kids already in HS.. they lost their friends.. yeah it was real easy... I was extra glad I had little debt because even after my job loss, I was late One time by 2 days and they {censored}ing jacked my interest from 10.9 to 28.9. yeah {censored} me!! Did the govt help me or anyone else?

 

So for the people with the MTG and credit issues after their job losses (most came after the whole banking crisis in the first place) what SPECIAL INTEREST rates were they given? Did they get their loans reduced? How about their credit owed? Jobless mofo's did they get 2% loans or interest rates?? No, they got shammed and foreclosed on !

 

yeah the banks were overly friendly and reciprocated that to "regular" people (ones that paid for the bail out) that lost their jobs, couldn't make their debts on time which in turn had their rates shot up to 30+% making it impossible to recover.... Oh, and that {censored}ed their credit scores which shot every other interest rate through the roof so getting a loan or any credit to assist them was next to impossible. yes, those banks were glorious.. did they have to pay back with 30% interest rates?? Yeah I didn't think so.

 

I know many people that can tell this story.. figuring out WTF they are supposed to do while these banks we bailed out partied on the interest they collected...

 

Used to be 25% rates were illegal loan sharks.... now it's just creditors and lenders GREED and standard fees...

 

Did we kick them when they were down? No, but they sure are fast to {censored} everyone over that bailed their ass out. At least 20 or more of my friends or family members were completely {censored}ed over by BOA and CITI... both bailout recipients. They jacked up rates in return for that favor? No, I don't feel bad for the banks.... they scammed us, got free money.. tax payers should have charged these banks 30%. Reciprocate!

 

govt was friendly to those banks because the majority that said "no" to regulations (dems and pubs) let those {censored}ers do as they pleased. Most in CONGRESS on those BOARDS were responsible for this {censored}.. So the banks are solvent....... many people were also doing okay before that {censored} went down, and many other people in near bankruptcy will have to absorb ridiculous fees and interest rates! Sounds totally fair...

 

Why didn't govt FORCE these banks to provide low flat rates for 4-5 years to HELP those normal people out. To cut fees, penalties and reduce interest rates to the avg guy that lost his job right after this fiasco? Ohhh no, their idea is MO MONEY... make that UE family suffer and now pay 35% on their $5000 (now reduced to $500) Visa. Yep, for many, that is how these banks gave their thanks to john Q public.,, so yeah, as one who WAS severely affected by their scams, I'm pretty bitter towards them and how they repaid the public for their assistance. When I see banks generously reducing the interests owed as a gratuitous move, then and only then will I change my mind.

 

Let's see.. they paid a rate of...........2-3% interest

 

Hmmm anyone here get 1-3% rates on your credit cards or homes as thanks?

 

Didn't think so

[grumphh]

Why didn't govt FORCE these banks to provide low flat rates for 4-5 years to HELP those normal people out.

 

Because that would be socialist government control of free enterprise - even by my euro socialist standards.

 

That is where a decent unemployment package comes in - because that way the people that have lost their jobs can still finance the basic necessities of life without falling into even more debt.

 

But of course the downside of a decent unemployment pay is that the entire working population* in that case would have to accept financial responsibility for their peers (through increased tax or unemployment payments) and that probably won't happen in your country where it seems that the "me me me" way of life is predominant.

 

*Because private enterprise really couldn't care less, they are here for the profits only...

[HKSblade1]

Because that would be socialist government control of free enterprise - even by my euro socialist standards. That is where a decent unemployment package comes in - because that way the people that have lost their jobs can still finance the basic necessities of life without falling into even more debt. But of course the downside of a decent unemployment pay is that the entire working population* in that case would have to accept financial responsibility for their peers (through increased tax or unemployment payments) and that probably won't happen in your country where it seems that the "me me me" way of life is predominant. *Because private enterprise really couldn't care less, they are here for the profits only...

 

I'm just one that thinks we can be a certain style country to get us through.. we're really not one type of govt anyway. We have social programs but are no socialist.. whatever that means.

 

My beef was the way things happened, the little guys got hammered at the expense of the little guys and the little guys' kids yet to be. All for the purpose of bailing out bigger guys and other guys that had to protect their congressional asses from media and public.. oh you bet I'm surprised how stupid some voters were in re-electing many congressmen on that committee that endorsed this whole {censored} up !

 

They COULD have suggested in order to get those stimulus and bailouts, that these lenders and banks, car makers, etc offer LOW interest rates to consumers (taxpayers that bailed those bitches out).

 

Instead they said "sorry you are UE, ohh and you are late a day according to our computer so your interest rates on your unpaid balances have just tripled!! Thank you and have a great day!!"

 

You have to help the UE more than tossing 350-400/wk at them. Most house payments are double or triple that... that means they are {censored}ed.

 

Banks should have IMO been asked to accommodate people in need and not {censored} them in the ass with a cattle prod like they are doing!

 

{censored} my rates, that drops my avail credit, that {censored}s my score and any rate changes from other lenders are sure to follow along with a big {censored} you... we'll take that house now..

 

That is what is happening and it pisses me off BANKS are supposedly solvent after only having to pay back 2-3%...

 

I'm sayin extend that same 2-3% rate to everybody else for a few years. Help them to become "solvent" or "credit worthy"... after all, it was this whole mess that erupted the companies to downsize, terminate, and so on. Nice way to reciprocate! {censored} these commercials or ads in magazines that say "thanks" thank me with a low rate loan or don't {censored}ing hike my interest rates for credit!!

[***1776***]

Because that would be socialist government control of free enterprise - even by my euro socialist standards. That is where a decent unemployment package comes in - because that way the people that have lost their jobs can still finance the basic necessities of life without falling into even more debt. But of course the downside of a decent unemployment pay is that the entire working population* in that case would have to accept financial responsibility for their peers (through increased tax or unemployment payments) and that probably won't happen in your country where it seems that the "me me me" way of life is predominant. *Because private enterprise really couldn't care less, they are here for the profits only...

Why do people or entrepreneur go into business? --- To lose money?


BTW ---- How about all the donations and philanthropy that business actually do? Anything from donations and $$ aid to shelters, hospitals to scholarships for schools, etc, etc. Theres alot of "good" charitable things that business do as well ya know. Are you aware of that as well?


This 24/7 demonization of business all the time is a bit overdone imo

[Ron Burgandy]

Lost my job New Years 09.. yeah happy new {censored}ing year!! Forced to sell, got {censored} for my home, had to relocate... work two jobs until I got my own biz going.. family relocation with 2 kids already in HS.. they lost their friends.. yeah it was real easy... I was extra glad I had little debt because even after my job loss, I was late One time by 2 days and they {censored}ing jacked my interest from 10.9 to 28.9. yeah {censored} me!! Did the govt help me or anyone else? So for the people with the MTG and credit issues after their job losses (most came after the whole banking crisis in the first place) what SPECIAL INTEREST rates were they given? Did they get their loans reduced? How about their credit owed? Jobless mofo's did they get 2% loans or interest rates?? No, they got shammed and foreclosed on ! yeah the banks were overly friendly and reciprocated that to "regular" people (ones that paid for the bail out) that lost their jobs, couldn't make their debts on time which in turn had their rates shot up to 30+% making it impossible to recover.... Oh, and that {censored}ed their credit scores which shot every other interest rate through the roof so getting a loan or any credit to assist them was next to impossible. yes, those banks were glorious.. did they have to pay back with 30% interest rates?? Yeah I didn't think so. I know many people that can tell this story.. figuring out WTF they are supposed to do while these banks we bailed out partied on the interest they collected... Used to be 25% rates were illegal loan sharks.... now it's just creditors and lenders GREED and standard fees... Did we kick them when they were down? No, but they sure are fast to {censored} everyone over that bailed their ass out. At least 20 or more of my friends or family members were completely {censored}ed over by BOA and CITI... both bailout recipients. They jacked up rates in return for that favor? No, I don't feel bad for the banks.... they scammed us, got free money.. tax payers should have charged these banks 30%. Reciprocate! govt was friendly to those banks because the majority that said "no" to regulations (dems and pubs) let those {censored}ers do as they pleased. Most in CONGRESS on those BOARDS were responsible for this {censored}.. So the banks are solvent....... many people were also doing okay before that {censored} went down, and many other people in near bankruptcy will have to absorb ridiculous fees and interest rates! Sounds totally fair... Why didn't govt FORCE these banks to provide low flat rates for 4-5 years to HELP those normal people out. To cut fees, penalties and reduce interest rates to the avg guy that lost his job right after this fiasco? Ohhh no, their idea is MO MONEY... make that UE family suffer and now pay 35% on their $5000 (now reduced to $500) Visa. Yep, for many, that is how these banks gave their thanks to john Q public.,, so yeah, as one who WAS severely affected by their scams, I'm pretty bitter towards them and how they repaid the public for their assistance. When I see banks generously reducing the interests owed as a gratuitous move, then and only then will I change my mind. Let's see.. they paid a rate of...........2-3% interest Hmmm anyone here get 1-3% rates on your credit cards or homes as thanks? Didn't think so

 

 

 

So you want the banks to have repaid the bailout funds at 30% interest? Make those Wall Street guys want to never extend credit again? How much do you realistically want to drive up the cost of borrowing?

 

The government has intervened and we have several programs that provide interest rate reductions down in the 2% range for qualified borrowers. Read up on HAMP.

 

Did you try calling your bank and working with them when all this happened? Were you aware there are programs in place to help people?

 

 

None of your solutions are even close to reasonable. I help people every day I come to work.

 

You're yelling at what seems to be a faceless corporation, but these major banks you're pissed at are still comprised of normal, everyday Americans that make a just barely liveable wage. The very few examples that you're mad about are so rare, that I feel they can be treated as isolated cases between crooked people. You're extrapolating that out across entire companies that employ hundreds of thousands of people. The couple VIP mortgages that were written amount to not even a drop in the bucket in the overall picture.

 

The consumers, the realtors, the brokers, the lending guidelines, the investors, etc were all at fault. I'm sorry you lost your job. That's a hard pill to swallow, and I can understand where some of your frustration lies. However, what you're proposing would provide you with little to no immediate satisfaction, and in the long term would make the cost of credit so high that no one could buy anything in the future. You wouldn't be helping your situation by any stretch of the imagination.

[syscrusher]

 

So you want the banks to have repaid the bailout funds at 30% interest? Make those Wall Street guys want to never extend credit again? How much do you realistically want to drive up the cost of borrowing? The government has intervened and we have several programs that provide interest rate reductions down in the 2% range for qualified borrowers. Read up on HAMP. Did you try calling your bank and working with them when all this happened? Were you aware there are programs in place to help people? None of your solutions are even close to reasonable. I help people every day I come to work. You're yelling at what seems to be a faceless corporation, but these major banks you're pissed at are still comprised of normal, everyday Americans that make a just barely liveable wage. The very few examples that you're mad about are so rare, that I feel they can be treated as isolated cases between crooked people. You're extrapolating that out across entire companies that employ hundreds of thousands of people. The couple VIP mortgages that were written amount to not even a drop in the bucket in the overall picture. The consumers, the realtors, the brokers, the lending guidelines, the investors, etc were all at fault. I'm sorry you lost your job. That's a hard pill to swallow, and I can understand where some of your frustration lies. However, what you're proposing would provide you with little to no immediate satisfaction, and in the long term would make the cost of credit so high that no one could buy anything in the future. You wouldn't be helping your situation by any stretch of the imagination.

 

 

No it wouldn't. That's why those guys, the ones who did the shamming not the typical worker drone, should be hung. Where I come from, the larger the responsibility is, the more severe the punishment is.

[Ron Burgandy]

No it wouldn't. That's why those guys, the ones who did the shamming not the typical worker drone, should be hung. Where I come from, the larger the responsibility is, the more severe the punishment is.

 

 

 

the responsibility lies in the entire country for the last several decades. that may be where we're having the disconnect. there is no one person to point the blame at, and we as a country can't simply pin it on a Bernie Madoff or Angelo Mozilo. anyone that has been identified as having a significant hand in this HAS been tried and prosecuted. but the problem was systemic and not lead by any specific person.

 

people wanted cheap credit. politicians listened and leaned on the banks to free up lending. people complained that credit wasn't accessible to everyone. politicians clued in and garnered support by promising to lean on the banks harder and really let the restrictions slide. low hanging fruit promising more votes and could be sold as "giving people access to the American dream". credit became so easy to obtain, normal people started playing the real estate market and a wide spread craze took off allowing people to reap serious profits by flipping homes. americans wanted in on more of the pie, so more investment dollars poured in to the banks/lenders. everyone lobbies to increase the number of middle men, so everyone could make money. finally, the subprime market is in full swing, and everyone is allowed the opportunity to buy a house. However, thanks to greed by everyone involved (consumer to politician level), people took advantage of the situation and {censored}ed over their fellow Americans to make a buck. Buying a $200k house, swinging a few thousand in sloppy paint and cheap granite, then selling it within 30 days to someone else for $400k? There were TV shows dedicated to this seemingly easy and free money. It was billed as soooo easy, anyone with a pulse could do it. Anyone making a profit just encouraged it. Real Estate agents? Man they were making money hand over fist, and people signed up for this career, making an absolute mockery of a decent profession.

 

Eventually the buck had to stop somewhere. Property values spiraled out of control.

 

Ultimately it came down to greed at the human level. Everyone had a part.

 

 

 

Look at the big picture. micro analyzing this will just cause you health problems trying to point your finger hard at one specific piece of the puzzle. It's a fruitless search, and taking drastic measures against those that still hold the money is going to do nothing but prevent anyone from being able to borrow. Then we're back to the credit freeze that kicked off this entire mess to begin with. When people can't borrow money to buy homes, the homes on the market don't sell, then the sellers have to resort to massive price reductions, dropping prices further, eliminating billions in net worth to the average American.

 

it's a grueling cycle and everyone was in on it. unfortunately, if you weren't one of the people making money (I for damn sure wasn't! I lost my entire life savings selling our house), then it's easy to get mad and point fingers at the obvious targets. But blindly blaming the banks and calling for blood...

[syscrusher]

 

the responsibility lies in the entire country for the last several decades. that may be where we're having the disconnect. there is no one person to point the blame at, and we as a country can't simply pin it on a Bernie Madoff or Angelo Mozilo. anyone that has been identified as having a significant hand in this HAS been tried and prosecuted. but the problem was systemic and not lead by any specific person. people wanted cheap credit. politicians listened and leaned on the banks to free up lending. people complained that credit wasn't accessible to everyone. politicians clued in and garnered support by promising to lean on the banks harder and really let the restrictions slide. low hanging fruit promising more votes and could be sold as "giving people access to the American dream". credit became so easy to obtain, normal people started playing the real estate market and a wide spread craze took off allowing people to reap serious profits by flipping homes. americans wanted in on more of the pie, so more investment dollars poured in to the banks/lenders. everyone lobbies to increase the number of middle men, so everyone could make money. finally, the subprime market is in full swing, and everyone is allowed the opportunity to buy a house. However, thanks to greed by everyone involved (consumer to politician level), people took advantage of the situation and {censored}ed over their fellow Americans to make a buck. Buying a $200k house, swinging a few thousand in sloppy paint and cheap granite, then selling it within 30 days to someone else for $400k? There were TV shows dedicated to this seemingly easy and free money. It was billed as soooo easy, anyone with a pulse could do it. Anyone making a profit just encouraged it. Real Estate agents? Man they were making money hand over fist, and people signed up for this career, making an absolute mockery of a decent profession. Eventually the buck had to stop somewhere. Property values spiraled out of control. Ultimately it came down to greed at the human level. Everyone had a part. Look at the big picture. micro analyzing this will just cause you health problems trying to point your finger hard at one specific piece of the puzzle. It's a fruitless search, and taking drastic measures against those that still hold the money is going to do nothing but prevent anyone from being able to borrow. Then we're back to the credit freeze that kicked off this entire mess to begin with. When people can't borrow money to buy homes, the homes on the market don't sell, then the sellers have to resort to massive price reductions, dropping prices further, eliminating billions in net worth to the average American. it's a grueling cycle and everyone was in on it. unfortunately, if you weren't one of the people making money (I for damn sure wasn't! I lost my entire life savings selling our house), then it's easy to get mad and point fingers at the obvious targets. But blindly blaming the banks and calling for blood...

 

 

Oh. I would have to agree. I bought cheap before it got going. I just didn't see paying a ton of money for something that wasn't truly worth it. I turned down a lot of sellers because their asking price was ridiculous and that was before the bubble. It was like some thought they could retire on selling their little bitty house. I settled for a smaller house that needed a little work which I did my self. During the bubble my house value nearly double while my property tax went up and stayed there. Even though my property value came down to what it's really worth now.

 

Unfortunately, I think we all will be under water soon because of the glut of houses they can't sell.

[HKSblade1]

RB-

 

Thanks for the details... most of what you described is very true and I certainly hold many that abused their credit as accountable.. THAT SAID.. the actions of the banks were no different in all this... there was little to NO account for their role or actions/inactions in this entire scam. They were all protected by "under the table endorsements" of many leaders in DC. Madoff, yeah he scammed, but he was ONE of how many hundreds that didn't get tossed in the pokey including Senators and Congressmen!

 

My point is simple. Look what happened to the majority of people (not a small amt) who were in this situation immediately following and continuing to this day... many thousands of stories similar to mine.

 

You lose your job. You use what savings you have to get by.. miss one bill by a day and the net is this:

 

late fees, credit reduction and automatic higher interest rates.... yeah these banks hiked rates on hundreds of millions of people in the worst of economic times and RIGHT AFTER they received these bailouts.

 

All I said was the banks are not having to look at 30% interest rates but are {censored}ing quick to turn on others that are in crisis and hike their rates like a loan shark 30% that make paying back debt impossible. To me, that is NOT fair to the tax payers.

 

I was against the bailout because NO provisions were placed upon the recipients. WTF.. go take out a loan and see the fine print to the avg consumer....read the back of a credit statement! All their "{censored} you's" are built in!

 

They got billions @ 2-3% interest rates from tax payers, and they hiked rates on Joe tax payer in return.. that is my issue.. Now you have people UE (most as a direct result of the domino crisis), making maybe 400/week losing their asses while banks celebrate in lush Vegas or Caribbean parties?

 

IMO every lender should have came out and said "THANK YOU AMERICA.. in our appreciations we will provide the lowest rates possible to all tax payers.. rates similar to those we received"

 

As we found out, they were not providing low interest loans.. they started buying up companies and other less solvent banks (which resulted in terminations of many employees) and playing their {censored}ing games right the next day. What did they do to AID Joe Taxpayer or Joe Entrepreneur? NOT MUCH ! so the banks are solvent but the majority (millions of workers) they left in their wake are UE... nice!

[pioneerprogress]

 

RB- Thanks for the details... most of what you described is very true and I certainly hold many that abused their credit as accountable.. THAT SAID.. the actions of the banks were no different in all this... there was little to NO account for their role or actions/inactions in this entire scam. They were all protected by "under the table endorsements" of many leaders in DC. Madoff, yeah he scammed, but he was ONE of how many hundreds that didn't get tossed in the pokey including Senators and Congressmen! My point is simple. Look what happened to the majority of people (not a small amt) who were in this situation immediately following and continuing to this day... many thousands of stories similar to mine. You lose your job. You use what savings you have to get by.. miss one bill by a day and the net is this: late fees, credit reduction and automatic higher interest rates.... yeah these banks hiked rates on hundreds of millions of people in the worst of economic times and RIGHT AFTER they received these bailouts. All I said was the banks are not having to look at 30% interest rates but are {censored}ing quick to turn on others that are in crisis and hike their rates like a loan shark 30% that make paying back debt impossible. To me, that is NOT fair to the tax payers. I was against the bailout because NO provisions were placed upon the recipients. WTF.. go take out a loan and see the fine print to the avg consumer....read the back of a credit statement! All their "{censored} you's" are built in! They got billions @ 2-3% interest rates from tax payers, and they hiked rates on Joe tax payer in return.. that is my issue.. Now you have people UE (most as a direct result of the domino crisis), making maybe 400/week losing their asses while banks celebrate in lush Vegas or Caribbean parties? IMO every lender should have came out and said "THANK YOU AMERICA.. in our appreciations we will provide the lowest rates possible to all tax payers.. rates similar to those we received" As we found out, they were not providing low interest loans.. they started buying up companies and other less solvent banks (which resulted in terminations of many employees) and playing their {censored}ing games right the next day. What did they do to AID Joe Taxpayer or Joe Entrepreneur? NOT MUCH ! so the banks are solvent but the majority (millions of workers) they left in their wake are UE... nice!

 

 

as true as all that is, you have to look at the cause of this whole mess to begin with:

People who knew they couldn't pay for these loans applying for them, with bankers who knew the loans wouldn't be paid, on properties that everyone involved knew the values of were inflated. But, the government was leaning on them.

So, yeah, the banks had a lot to do with it, but so did the consumers/real estate guys/brokers/politicians/etc.

[gdwill2u]

Unemployment benefits are a complicated mess

Easy answers are usually a disservice to the truth

However; I know decent hard working men, who use to make $70,000.00 per year as a tradesman (I am in construction), who would be willing to work at Macdonalds for $7.00 per hour and cannot find work. In places it is that bad.

Apparently where I live (Loudoun County Virginia), is the richest county in America but I know of a job that came available working for the school board as a handyman...the job paid $12.00 per hour and there were 150 applicants. I know the details because a friend of mine's wife was in charge of the interviewing and hiring. Many where ex construction managers, college grads etc.

It's bad and I think the proper response until you KNOW that someone is taking advantage of the situation is compassion. Nothing is as hard for a man of honor than unemployment....it strikes fear into a man's heart that he will never forget.

Mojo and prayers to all honest men who are looking for work, may God keep you in His Grace and I hope you find a good job ASAP

[Waterfowlmagnet]

who knows. Most of the people I see whine about "paying for people's free vacation", don't make as much as they lead you to believe. They're also parasitic drains on various other forms of social reform, but like to focus in on one single group that they feel they can talk down to. I've never been laid off or fired from a job. I've never received disability, unemployment, welfare, or any other form of income aside from collecting a salary for doing my job. However, I've seen too many good people in this economy suffer and end up collecting benefits because they simply cannot find work. These are people that planned, scrimped and saved for years, that simply were let go or laid off for various reasons. I know I've learned a valuable lesson, because I too used to complain and whine about unemployment. Then I woke the hell up and actually got my story straight. Take for instance a head of household, making $70k a year supporting a spouse and two children. This person gets laid off, and has to seek unemployment. Do you expect this person to stop looking for comparable jobs, so they can go flip burgers at Wendy's for $8/hour, part time? Sure they'll lose that uber sweet $400 a week unemployment check( ), so they can go flip burgers for $240 a week. In the mean time, they won't have time to search/apply for other jobs, they still can't pay their $1500/month mortgage, they don't have health insurance, etc. Oh?? But the wife can work too, so now she can go handle the fryer at $8/hour for 30 hours a week. Yeehaw, we're up to dang near $500 a week in income!! except, now they can add $800/month per child in childcare costs, they still have no insurance, they still need transportation to/from work... So now, instead of ~$1800 a month in unemployment, you've broken up a family, added another property to the Foreclosure mess, created 4 new Medicare users, they will now require welfare/WIC to survive, and... you have set this family up to never leave this financial situation again. Yet some loser making $30k a year as a single person with a 1 bedroom apartment will feel better knowing his hardly earned dollars aren't supporting the above family's "free vacation". Here's the lesson I had to learn. Everyone's variables are different, and you don't fully appreciate another man/woman's plight until you've walked in their shoes. Since that's all but impossible, it's easier to show compassion off the bat and not focus on trying to humble someone further than they already have been. Sometimes that means giving the benefit of the doubt to an "undeserving" person, but in the meantime compassion has been shown to the 9/10 people that would absolutely change their situation if they could. Life is not black and white, so answers to life's questions can't be black and white either. People that say otherwise, are sheltered and have a bit of growing up left to do.

great post