Capt. JG wrote:


I think you believe that the relm of "freeing up credit" is reserved for
individual consumers, especially those who don't have money. This is not the
case. It's a much bigger problem for those who have decent credit and want
to buy a car, say from GM or from the RV company in the town Obama visited
recently, and it's even a bigger problem for small businesses who can't get
the credit they need to run their business.

Banks don't want to make loans... to anyone. This is a huge part of the
problem.

Odd...in my exoerienbce, if you have a decent credit rating there us noo
problem whatsoever finding someone to extend you credit at a decnet
rate...we have multitudinous junk mail offering us low interest loans
all the time and wanting us ti take out a mortgage on our house to
enable us to do whatever...and we are by no means well off...credit,
IMO, has been too easy to obtain...I cannot believe the amounts that are
allowed per income on mortgagges..the rule of thimb when we were young
and starting out was that yout mortgage payment should be no larger than
one weeks pay or 2X your total income minus exoenses...yet many out
there with 35K incomes have 200K mortgages..and it is no wonder they
can;t foot the bills and are living hand to mouth..we had to rent befoe
we coukd afford a house and we had to have an adequate downoayment and
the c losing costs to proceed..these things are oftentimes waived
nowadays...people want too much too fast and they are not willing to
wait...and that's greed...and greed always gets you in the end...