Comments on: Psyching Out Wall Street

By: Bryan

Bryan — Sun, 28 Sep 2008 15:38:59 +0000

Moi, their greed is getting the better of their desperation. You can negotiate if you really want the money, which most people don’t consider. I’ve squeezed a few bankers for a couple of percentage points off a deal.

Credit unions are a better deal in the current market because they are self-financing and can’t make the crazy loans that banks have been creating. Your deposits represent shares in the credit union, so you own the “profits” plus they pay interest on everything.

I had a Congresscritter named Sikes who was a psycho, but I know the difference.

By: Moi

Moi — Sun, 28 Sep 2008 14:55:57 +0000

Our credit is also sterling. We wanted to put an addition on our house this summer, but the rates never went down enough, so we didn’t. You’d think they’d have been banging our doors down!! Obviously they’re not That desperate. @@

But there is no way in hell I’d borrow from a “bank” – the last time we borrowed, for Hub’s car, we went to the credit union. I have friends who have changed banks, and joined credit unions for fear’s sake.

Brian = one of the few who knows the word is “psych” instead of “sike”. 😉

By: Bryan

Bryan — Sun, 28 Sep 2008 03:25:28 +0000

He has [had?] a morning gig on public radio’s Market Place Report, but it is short and non-technical.

All I have to go on is anecdotal evidence and my mailbox, but I don’t know anyone who qualifies having problems getting money. I do know someone you has changed banks because his former bank had no money available although he has been a long-time customer and has paid off a lot of short term loans to finance land deals. It may be that he rarely borrows money for more than a year.

By: Jack K., the Grumpy Forester

Jack K., the Grumpy Forester — Sun, 28 Sep 2008 02:30:46 +0000

…I miss Alan Sloan from his Newsweek days. He is a diamond in a field full of rocks like Cramer and Dobbs….