Re: Fed bails out banks with another $75 billion. Homeowners get ***.


"Jerry Okamura" <okamuraj005@xxxxxxxxxxxxx> wrote in message
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"Al. E. Crocodile" <ObamaCroc08.net> wrote in message
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"El Castor" <No_One@xxxxxxxx> wrote in message
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On Tue, 20 May 2008 14:47:50 -0700, Rita <Rita@xxxxxxxxxxx> wrote:
right you ignorant hillbilly,

loan the banks our money at 2 % so they can loan it back to us at 30%,

First of all, that is what banks do. They take someones money and loan it
out at a higher rate than the rate they pay for those who have their money
in banks. That is how they make money. As for the rate you used as your
example, can you provide some data to show that they do indeed charge 30%
for the money they do loan? I don't even think they get that kind of
interest from their credit card businesses. Besides, isn't that agains
the law to charge 30% interest?


NOT AGAIN, I'm not doing your homework for you again,

against the law ?, you're seriously behind the times, not surprising, it
used to
be called usury:

Each U.S. state has its own statute which dictates how much interest can be
charged before it is considered usurious or unlawful.

If a lender charges above the lawful interest rate, a court will not allow
the lender to sue to recover the debt because the interest rate was illegal
anyway. In some states (such as New York) such loans are voided, meaning
made void from the beginning or ab initio. Ref NY Gen Oblig 5-501 et seq.
and NY 1503.

However, there are separate rules applied to most banks. In 1980, due to
inflation, national banks (banks that generally include N.A. in their name),
federally chartered savings banks, installment plan sellers and chartered
loan companies were exempted from state usury limits by the federal
government through a special law. This effectively overrode all state and
local usury laws.

Reference: Interest rate usury limits for U.S. states: Usury rate limits





that's really smart goober, and you losing,failing, fuckups stand around
with your stupid
mouths hanging open wondering how you fucked up

how about loaning us our money at 2 % ?,

Because if they did that they would not be in business. Why pay 2% to
those who have money with them, and then loan the money out at the same
2%.


that whizzed by your empty head too,

I meant, how about the government lending us our money at 2 %, rather than
to the banks


.