Now Here's a Fresh Solution

[stovt001]

http://www.leftlanenews.com/credit-u...uto-loans.html

This goes straight to the heart of the problem- sales. If this works this can save everyone a ton of headaches.

[Mindz]

Sounds like a plan. I sitll don't know where I'm going to get the best financing though. My credit union offers a 5.2% to it's best qualified which I am. That's just way to high...

[kevin2323]

yep i thought rates would be lower.....i guess those 300 billion to banks so they can lend is really working right? yea and they make a spectacle of the big 3...

[TAG UR IT]

Soooo....they would be helping for loans. But, what the APR be?

[headpunter]

Originally Posted by kevin2323

yep i thought rates would be lower.....i guess those 300 billion to banks so they can lend is really working right? yea and they make a spectacle of the big 3...

did you hear about the bank that used thier bailout money to buy a chinese bank for 4 billion.....yeah that really helps me out....

[Rogue Leader]

Originally Posted by headpunter

did you hear about the bank that used thier bailout money to buy a chinese bank for 4 billion.....yeah that really helps me out....

More info? Article? thats pretty f'ed up!

[BigRigMike]

Originally Posted by Rogue Leader

More info? Article? thats pretty f'ed up!

There was also the news that the day PNC received their money they bought a bank whose name slips my mind right now.

[yad68]

I was watching GMA this morning and there claiming they can't track where the 300 billion went to. They should of just gave the money back to the people and that would've boosted the economy. They also said the money might have gone to pay this years salary to the ceo's. How abot that one, like they need the money. Isn't that how this all began in the first place. "GREEEED"?

[str8himalaya]

Sounds like a good idea, even better, i am in indiana! Of course i already talked to my credit union, and got the best rates possible through them, but its nice to hear they are trying to help!

[Rogue Leader]

Does anyone have a source for any of these claims about the bank bailout? I ask because I can find none of these claims in the searching I did. Also I am pretty well read on the bailout and I know there are controls in place to prevent the bailout money to be used for things like excess CEO pay(remember their salary is usually in the $250k-$500k range its the bonuses and stock options where they get into them multi-millions, and taking bailout money means you forgo these things), and buying a chinese bank. I'm not saying it didn't happen, I'm just saying I'm quite skeptical, especially with the claim from GMA, that was just an inference by them backed with no hard facts. Anyone have any credible sources?

[BigRigMike]

Originally Posted by Rogue Leader

Does anyone have a source for any of these claims about the bank bailout? I ask because I can find none of these claims in the searching I did. Also I am pretty well read on the bailout and I know there are controls in place to prevent the bailout money to be used for things like excess CEO pay(remember their salary is usually in the $250k-$500k range its the bonuses and stock options where they get into them multi-millions, and taking bailout money means you forgo these things), and buying a chinese bank. I'm not saying it didn't happen, I'm just saying I'm quite skeptical, especially with the claim from GMA, that was just an inference by them backed with no hard facts. Anyone have any credible sources?

Here is one for the PNC buyout of National City:

http://news.bbc.co.uk/2/hi/business/7690318.stm


And a quick search yields information that BofA is upping its stake in CCB.
http://www.iht.com/articles/2008/11/...ss/views19.php

[Rogue Leader]

Originally Posted by BigRigMike

Here is one for the PNC buyout of National City:

http://news.bbc.co.uk/2/hi/business/7690318.stm


And a quick search yields information that BofA is upping its stake in CCB.
http://www.iht.com/articles/2008/11/...ss/views19.php

At least PNC buying out National City is keeping both banks afloat, has doubled the size of PNC and will "supposedly" help them free up cash to offer credit to consumers. I don't see that as a bad thing, assuming thats how it really happens in the end obviously.

As for BofA that makes the story a bit different than an American Bank using their bailout to buy a Chinese one. They purchased a stake, and also with their own funds not bailout funds. BofA is in much better shape than everyone else, and from reading that article it sounds like they can make a lot of money on this deal.

Now of course the caveat is that hopefully that monetary gain will allow them to also free up cash to offer consumers more credit. It remains to be seen if or when that happens. Remember Banks make the big money on investments (and also lose which is why we are where we are now), and they need to do this to survive, they can't stop and flip around their entire business to stimulate lending to consumers, because other banks will take their missed opportunities and it will lead them to a path to failure. That and according to the article the hope is that they will use the bailout money (which is new to their balance sheet, and not the money used for this deal) that they have taken to stimulate the market.

[The_Blur]

I'm continually disgusted by the current market and the use of funds that were intended to buy back America's bustling economy. The creeps who have used this money to acquire competitors or inflate their wallets are keeping innocents out of jobs. While they're eating fillet mignon, people like me are eating ramen noodles and canvassing businesses in a desperate attempt to find jobs. I am completely disillusioned by the behavior of the elites in this country. They are out of touch with American values, reality, and their customers.