PERSONAL FINANCE

Ada vs. Wall Street

An 80-year-old grandmother who took control of her finances wonders why bankers can't do the same.

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  • Posted By: zaria9 @ 04/04/2009 7:34:16 PM

    why have the department of chidren and families have add unemployment income for the month that have extra week as income when the goverment is not adding that as income to your unemployment checks but they are adding that as income you donot get.

    • Posted By: zaria9 @ 04/04/2009 7:44:09 PM

      can anyone help get me answer to this problem why use weeks that you are not getting unemployment benefits for to add to getting food stamp and medicaid benefits help for unemployed people. help!!!!!!!!!!!!!!!!!!!!!!!

  • Posted By: zaria9 @ 04/04/2009 7:37:52 PM

    why when getting unemployment benefits there are months that have extra week in them , but we do not get paid unemployment benefits for that week. but children and families in the state of florida has add that as income to your case but we are not receving that income can any tell me why.

  • Posted By: Iforone @ 12/18/2008 3:58:04 PM

    They could Ada but their parents forgot to teach them kindness, responsibilty, selfcontrol, unselfishness, patience, charity, respect, goodness, faithfullness, and above all love of others. Too busy teaching them Americas downfall ,GREED.

  • Posted By: cani77 @ 10/03/2008 9:58:52 PM

    The Bush Depression


    In a few weeks we will make a choice that will decide our future.
    I follow an economist named Bob Proctor. He has called the top and bottom of every market crash since the 70s correctly.
    Also, he perfectly predicted the current real estate market meltdown and the picture he paints about what will happen in the next couple years
    is terrifying.He thinks it will be worse then the great depression.
    The banks in the U.S. are going under one after the other. Countrywide the largest morgage bank in the world,Bear Stearns, Lehman Brothers and Merrill Lynch which are 3 out of the top 5 wall street firms. Also, Fanny and Freddy Mae which hold 50 percent of the home loans in the United States.
    The government took them over because they are essentially bankrupt.If they didn't the entire financially system would virtually shut down, the stock market would crash and we would suffer beyond what any of us have seen before.

    McCain just like Bush " doesn't understand the economy".
    That not just my opinion its his own words. Not only does he not understand how to fix it but he does not understand exactly what is broken.
    It is no surprise that he doesn't. The people that make up these securities use complex mathematical models very few people understand.
    Bush and McCain both can take the credit for this mess since they helped deregulate the laws that were protecting us.

    Bush's economic advisor Phil Graham wrote the deregulation bill that allowed banks to take huge risks with all of our future.
    Now, Phil Graham is the head of McCain's economic policy.He is also McCain's choice for the next secretary of the treasury.
    No one in this country can afford for that to happen. The last time Bush met with his economic advisors was in March. He either didn't care or didn't realize that anything was wrong. Phil Graham had the guts to say that we are in a mental recession after he helped create the worst economy meltdown in our lifetime.
    It will take the best and brightest minds in the world to get us out of this nightmare. As bad as Bush has done, McCain would be
    even more destructive because things are in much worse shape. The next president will not inherit a surplus like Bush did but a tanking economy and a 11,600,000,000,000 (trillion) dollars deficit.Bush created a national debt larger then the first 42 presidents combined
    If you do what you have always done then you will get what you have always got.
    When it comes to policy Bush and McCain are the same 90 percent of the time.
    So why isnt obama 25 points ahead

    The chairman of McCains campaign recently said that people don't vote on issues they vote on a personality composite. Which means he is trying to sell you personality instead of results.

    Let's teach him we are smarter than that .

    31 states are voting now, dont wait
    Elect Obama Biden 2008





    Check out this video of sarah palins interview before you vote



    http://www.youtube.com/watch?v=r36Xc0GG4i

  • Posted By: samspolitics @ 10/03/2008 9:37:57 PM

    Cannot really blame it all on Wall Street. The kids working there today grew up in a leveraged and greedy world. Credit cards at home, loans at college, leveraged purchases of cars, houses, tVs etc as young adults. We expected them to change when they took jobs at Lehman Brothers or Merrill Lynch. Come, come. Wall Street is us, made in the image of Main Street.

  • Posted By: samspolitics @ 10/03/2008 9:34:27 PM

    The "kids" on Wall Street grew up in leveraged households (all on credit cards), got leveraged college degrees (big time loans) and started adult life leveraging cards, houses and TVs. American life is leveraged -- and greedy. Why did we expect them to change when the became officers at Lehman Brothers or Merrill Lynch? They are us. You have to blame us all.
    Samspolitics

  • Posted By: cani77 @ 10/02/2008 11:29:54 PM

    n a few weeks we will make a choice that will decide our future.
    I follow an economist named Bob Proctor. He has called the top and bottom of every market crash since the 70s correctly.
    Also, he perfectly predicted the current real estate market meltdown and the picture he paints about what will happen in the next couple years
    is terrifying.He thinks it will be worse then the great depression.
    The banks in the U.S. are going under one after the other. Countrywide the largest morgage bank in the world,Bear Stearns, Lehman Brothers and Merrill Lynch which are 3 out of the top 5 wall street firms. Also, Fanny and Freddy Mae which hold 50 percent of the home loans in the United States.
    The government took them over because they are essentially bankrupt.If they didn't the entire financially system would virtually shut down, the stock market would crash and we would suffer beyond what any of us have seen before.

    McCain just like Bush " doesn't understand the economy".
    That not just my opinion its his own words. Not only does he not understand how to fix it but he does not understand exactly what is broken.
    It is no surprise that he doesn't. The people that make up these securities use complex mathematical models very few people understand.
    Bush and McCain both can take the credit for this mess since they helped deregulate the laws that were protecting us.

    Bush's economic advisor Phil Graham wrote the deregulation bill that allowed banks to take huge risks with all of our future.
    Now, Phil Graham is the head of McCain's economic policy.He is also McCain's choice for the next secretary of the treasury.
    No one in this country can afford for that to happen. The last time Bush met with his economic advisors was in March. He either didn't care or didn't realize that anything was wrong. Phil Graham had the guts to say that we are in a mental recession after he helped create the worst economy meltdown in our lifetime.
    It will take the best and brightest minds in the world to get us out of this nightmare. As bad as Bush has done, McCain would be
    even more destructive because things are in much worse shape. The next president will not inherit a surplus like Bush did but a tanking economy and a 11,600,000,000,000 (trillion) dollars deficit. Most of it Bush created and it will take decades to pay it back.
    If you do what you have always done then you will get what you have always got.
    When it comes to policy Bush and McCain are the same 90 percent of the time.
    So why are the polls even close then ?





    The chairman of McCains campaign recently said that people don't vote on issues they vote on a personality composite. Which means he is trying to sell you personality instead of results.




    He believes people will vote against their own interests.

    Hold them accountable NOW!
    Elect Obama Biden 2008




    Check out this video of sarah palins interview it will blow you away


    http://www.youtube.com/watch?v=r36Xc0GG4iQ

  • Posted By: Nowforthetruth @ 10/02/2008 7:36:04 PM

    How about a story on Biden's long standing relationship to the credit card industry, the stalled credit card reform bill, passed by house but dead in the Senate, where Biden "works." (And opposed by Bush. Idiot)

  • Posted By: mommydearest @ 10/02/2008 4:05:25 PM

    Noda for Congress! She seems to know more than they do at this point in time. I agree 100 % with her ideas and suggestions. Make all those CEO's and Exec's pay up...they should "bailout" the financial situations, along with congress. It's always our Country who end's up getting screwed and "we the people" have to pay for it! Better yet Noda for President!

  • Posted By: catery1705 @ 10/02/2008 2:45:25 PM

    Fiscal responsibility is key for Americans today! This is true from the huge corporations to the high school teenager! You can't live on credit...and neither can a corporation rely on credit to pay credit to pay credit etc. As we can now see...the repo man will one day come. We need to learn to live within our means! The media tells us (the consumer) what we need to consume. Unfortunately we do live in a consumer driven society, however, we can do so responsibly! Who needs the big house, plasma tv or the porche...really?
    As a young married father of two I have recently taken charge of my families finances. I put us on a budget using an online money manager (leaving plenty of money for discretionary spending to be realistic). It is a great feeling to live within our means and know that we are saving for our future and our childrens' futures. I encourage everyone to do the same. There are a bunch of budget planning software available...find one and use it! I use www.automaticmoneymanager.com (not free but worth the $8/mo for what you get.) There are free ones too that you can google.

  • Posted By: bigjohng4400 @ 10/02/2008 1:54:42 PM

    I still find it hard to beleave that we the people have sunk so far to beleave that this bailout for wall street is in the good of the nation. Yes some people have had to file bankruptcy, yes we did pick up their bills. But we are not the ones that put these people in unemployment lines nor are we the ones closing business and putting more people out of work. I am against giving illegals social security. I have worked law enforcement most of my life and it is the government that has cut back on illegals in this country. Law enforcement arrests them then immigration puts them on a bus (un-supervised) to return to mexico. Needless to say they never get out of town.The seven billion dollars should be divided up between the low and middle class tax payers, and yes they will spend most of the money to pay off bills, student loans, mortgages, take vacations, but a new car, remodel their homes or a room in their home. The point is the money will be recycled, there will be more jobs, more students going to collage, less state walefare, less food stamps, less medicade thus saving the taxpayer millions of dollars, the states billions of dollars and the federal government trillions of dollars. The ecomoney will get a fast shot in the arm it would benifet everyone in this country, not just the chosen few.

  • Posted By: phiomalibumalibu @ 10/02/2008 1:09:34 PM

    Call your congressman or woman to stop the bailout. If it passes the market will drop to 7000 and you WILL lose everything in your 401K. The US economy will lose stability in the eyes of the world, so it's time to call write email text your congress man and tell them to vote 'NO' on the bailout. They guys on Wall Street are lying to you, they just want to take out their millions before the market crashes.

  • Posted By: IslandAnne @ 10/02/2008 12:35:33 PM

    Amen! That's what I do (although I haven't filed bankruptcy.) I live within my means; if I don't have the money, I don't buy it! I don't have anyone to hand me money and I shouldn't be expected to hand the Government money because they were looking the other way while the system was going down. Homeowners bought more home than they could afford; I bought what I can pay for comfortably. We pay all this billions for illegals' social services when they shouldn't even be here. The new bailout bill is huge now and on page 299, they talk about no excise tax for wood arrows for childrens' bow and arrows. They STILL playing the political game and by We the People bailing them out they won't have learned anything. It's time for reality to set in and a bailout will only be the beginning and will continue with more of the same. NO BAILOUT WITH MY MONEY!

  • Posted By: wildbill69 @ 10/02/2008 12:27:47 PM

    That's the reason the average person is so pi$$ed. These scumbags made a ton of money making BAD loans in the first place and after the feces hits the fan, the taxpayers are being asked to REWARD the same scumbags to PAY them on the back end. When we screw up no one holds our hand and pays the bill, we're on our own and should be. That's how you learn, but by bailing them out there is NO lesson to be learned. You're actually REWARDING bad behavior. ITS CRAZY!!!! This is rewarding people like the credit card company who pushed CREDIT CARDS for ILLEGALS. Guess who gets to pay for all that.

  • Posted By: wildhorse @ 10/02/2008 12:13:34 PM

    I am amazed at the number of folks that seem to only be concerned with what will happen to "them." We'll all suffer here - and so be it. I've been in business for over twenty years and have never borrowed anything. I pay all my bills on time and NEVER use a credit card. The secret is to not live beyond your means. I make alot of money not because I overextend, but because I resisted any temptation to get too big. Stay small and build quality. Unfortunately, this is a lost ideal in America.

  • Posted By: Max1158 @ 10/02/2008 11:21:41 AM

    I don't think we should give Welfare to the rich! No one bailed me out a few years ago when I needed to claim bankruptcy. I don't care if loans are harder to get, I can't get one now. What bothers me is the Little People of this country , who are supposed to bail out these Fat Cat Company, Million Dollar Salaried CEO's, are already struggling. We have already lost many of our jobs. Many of our homes, and which by the way , I only have one, I have children without electricity right now, who are living with others until they can pay their utility bills. I don't care if I can't use as much credit on my credit card, I'm already maxed out. I don't care if Wall Street has a hard time for a while, I don't have any investments anyway. Why should I pay for someone elses bad business practices? Why don't I get to vote on how I want my taxes used?

    • Posted By: galensmith9 @ 10/02/2008 12:12:21 PM

      Max 1158... what do you mean that nobody bailed you out? You and apparently half the people responding to this message board has filed for bankruptcy!? You don't call that a bail out? The rest of us have had to pay for your mismanagement of money and will probably soon have to pay for yet another bankruptcy by you. What has been proposed is not a bail out. The Gov't will probably make 250B on their investment. If people ike you pd their bills, the financial institutions that loaned you the money in good faith wouldn't be in the shape they are currently in.

    • Posted By: galensmith9 @ 10/02/2008 12:07:08 PM

      Max1158, what do you mean "nobody bailed you out" YOU went bankrupt!! Of course we bailed you out, what do you think happened to all your bills that you ran up and couldnt pay. The rest of us picked them up through higher credit card interest rates, higher mortgage rates, and higher interest rates on any other type of credit. It kills me that all you people who have gone bankrupt so self rightously claim that nobody helped you!! Give me a break...

  • Posted By: mdav174 @ 10/02/2008 12:04:56 PM

    Max1158, I think you hit the nail on the head when you finished your comment with the fact that you have filed bankruptcy, but still have maxed out credit cards. Unfortunately, the general American public did the same thing you have done, and used credit to bail out credit debt or filed to make it all go away and then built the debt right back up. Lending institutions were greedy and someome needs to regulate the lending practices of these places, however, when you really want to know what has caused this credit problem, look at the new countertops, the flat panel TV's, the new car in the garage and see that, in a lot of cases, we did this to ourselves.

  • Posted By: mdav174 @ 10/02/2008 12:03:46 PM

    Max1158, I think you hit the nail on the head when you finished your comment with the fact that you have filed bankruptcy, but still have maxed out credit cards. Unfortunately, the general American public did the same thing you have done, and used credit to bail out credit debt or filed to make it all go away and then built the debt right back up. Lending institutions were greedy and someome needs to regulate the lending practices of these places, however, when you really want to know what has caused this credit problem, look at the new countertops, the flat panel TV's, the new car in the garage and see that, in a lot of cases, we did this to ourselves.

  • Posted By: pcahilljr @ 10/02/2008 8:09:48 AM

    Archangelv1,
    What country are you living in where there are only 2.8 million people. The current population is 300 million. 700 BILLION divided by 300 MILLION is only $2,333. I can understand if you say that only 100 million of those people should get the checks because high incomes and children should be excluded, but that still comes to only $7,000 per person. I have seen this same lie about $250,000 each circling all over the place, and It's math like that which got these banks in trouble in the first place.

    • Posted By: Twister51 @ 10/02/2008 11:46:14 AM

      pcahilljr, don't try using facts with the majority of people on this board. It only confuses them. Seems like 90% of the people here still believe that money will be taken out of their pocket and put into the rich's pocket. I wonder if they'll still feel that way when their place of work goes out of business?

      My guess is they'll wail loud and long saying "Somebody should have done something!" to which they will hear the answer "We tried" but they won't be able to put 2 and 2 together....

  • Posted By: GrannyAnnie @ 10/02/2008 11:21:52 AM

    This bailout is a BAD idea. I have written my congressmen and expressed my non support. I also voiced my intent to actively campaign AGAINST anyone that votes for this stuff. If I am supposed to balance my books every month, so do these so called "experts". And STOP tellling me I don't "understand" the implications of this financial meltdown. I DO. There will be lost jobs, lost businesses, and a contracion of credit unseen in 80 years. So be it. We will survive. We will learn new ways of doing things that will be backed by true assets, not paper. We will slowly, painfully regain our financial footing. But we will come back stronger. Floating more debt and not addressing the true nature of this razor's edge is only going to further undermine the stability of our nation.

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