Jack Layton is Canada’s Barney Frank
Today in Power Play, Jack Layton said that a reasonable credit card rate is needed for low income Canadians. Jack Layton is dead wrong. Good credit card rates are given to people who have a history of paying their cards off. Bad credit card rates are how banks and lending institutes pay for cards that people default on. So why is Jack Layton our version of Barney Frank? In 1999, Democrat ......
OfficiallyScrewed.com
So let's get this straight.
ReplyDeleteIf you are lower income, you always default on your credit. Correct?
So the years my wife and I spent not making much money when we first started out, we were a complete anomaly because we made our payments?
There is no reference to there being a correlation between income and default so that comment doesn't stand the test and why should there be special rates for people with low income. Think back to what caused the financial disaster in the states...special low mortgage rates and payments. I hope you have a sharp aountant if your actually are running your own business.
ReplyDeleteUh, no Walter. That is not what caused the financial disaster in the states at all. I suggest reading up on that. You may find that part of the problem was allowing people access to 600 hundred thousand dollars -with no down payment or financial qualifications-
ReplyDelete*subprime* Walter. I would hardly call what credit card companies charge for interest rates even in the same stratusphere as *subprime*.
Come on.
And yes I do have a very good accountant.
You prove my case......
ReplyDeletewhat case?
ReplyDeleteThat you are completely ignorant of the issue??
Providing access to credit to qualified applicants at -reasonable rates-, isn't in the same topic as the subprime meltdown Walter.
You really need to read up about what's happening the world. You don't vote with that level of ignorance do you?
Oh right. "Dougie"...
A reasonable rate to Taliban Jack and you would probably be zero....sucking of the teats of the public purse seems to be your forte.
ReplyDeletethis is precisely the level of any seriousness anyone should take any of your opinions...
ReplyDelete