"We believe any broker could befall the fate of Bear, which had no more credit exposure issues than the other four, " says David Trone, an analyst with Fox-Pitt Kelton.
No more Earned Income Credit, no Minimum Alternative Tax, Child Tax Credit, Marriage Tax Penalty, Employer Plan Covered restrictions, and other pointless regulations that make the system a complete mess.
The ChargeCard purports to offer an always-with-you charger that takes up no more space than a credit card.
The existence of the potential for abuse, however, is no more an indictment of credit derivatives generally than it is of the stock market or any other useful tool of society than can sometimes be abused.
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Lower prices would make credit more available as prices would no longer be insane multiples of annual incomes and that greater credit and lower demand would mean housebuilders being able to sell more thus saving them from bankruptcy.
As the FICO data proves, the number of people with bad credit has grown significantly post-recession, leaving more people with no idea how to dig themselves out of their credit woes.
Also, consumers are no longer saving less and borrowing more on credit card, home equity and other loans to bridge the gap between income and desired spending growth.
The sad thing is this: Today investors can earn 11% on Treasury bonds with absolutely no credit risk and 9% or more tax-free on municipal bonds.
First, to qualify you typically need 2 years of steady employment with a stable or increasing income, a minimum credit score of 620 with no more than 2 30-day late payments over the last 2 years, no bankruptcies in the last 2 years, no foreclosures in the last 3 years, and a mortgage payment no more than about 30% of your gross pre-tax income.
Since all forms of fractional-reserve lending are dependent on the perpetual creation of more and more credit that the system eventually can no longer sustain, it eventually collapses under its own weight.
If the mission is to cut crime, no more and no less, do we blame chief constables or elected commissioners if poor bank security results in credit card fraud going through the roof?
Not every mortgage rep did a credit check and the process was usually no more than a telephone conversation and a few mortgage calculations.
Second, the GAO confirmed that amending the good time credit statute to require that inmates serve no more than 85% of the sentence would better calibrate actual time served with the assumptions underlying the sentencing guidelines consulted at sentencing.
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That may sound uncharitable, but no similar credit was given to Ben Hibon for CodeHunters for the much more successful Borderlands.
No doubt, the credit has always been a political bargaining chip, allowing more encompassing energy proposals to pass.
Likewise, this legislation instituted a more consumer-friendly payment structure for personal credit cards while providing no such provisions for business credit cards.
FORBES: How Personal Credit Cards Can Outperform Their Business Counterparts
Despite assurances that financial transactions on the sites were secure, more than half the sites that MarkMonitor tracked offered no protection of users' credit card data.
But, with a lot less hindsight, they look no sillier than many of the loans extended, underwritten, securitized, sold and bought by what were supposedly the best minds on Wall Street--undocumented mortgages, mortgages with interest but no principal payments, those for more than the value of properties and those to people with toxic credit ratings.
Financial institutions tapping credit lines at the Federal Reserve Board should be forced to reduce dividend payout ratios to no more than 25% of earnings.
Probably the most useful feature is the ability for a passenger to swipe their credit card on the machine to pay for the fare: that's right, no more fumbling in your pocket for change.
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