Poor Visa and Master Card

Don't you just feel sorry for poor Visa and Master Card. They made credit cards so easy to have. Now it has been reported they had to write off $56 Billion dollars in bad debt in 2008. So along comes Congress to tighten up some of the predatory practices. Who gets bitten in the butt. They people that have good credit, pay off their cards monthly, and people who have used their cards responsibly.

Look for short cycles next year when this goes into effect. Also look for all kinds of new rules and plans and the MBAs at these companies dig into their textbooks for some new ways to compensate for their own stupidity and greediness in the past.

Watch for the return of annual fees, dropping of rewards programs, and the so called grace period.

So once again the government steps in to put some pressure on these guys so they can be more profitable. The government gives them bailout money so they can lend money to credit worthy borrowers and neither happens.

Lawyers Full Employment Act

This lawsuit has to come under the new Lawyers Full Employment Act of 2009.

Scene One-Two underage kids get drunk at a party where there was supposed adult supervision. The two decide to walk home because they have had too much of the fun juice.

Scene Two- A guy goes to a deli to buy a sandwich. He leaves his car running while he is getting his food and the car is stolen. The person stealing the car runs over the two kids that are walking home and kills them both.

Now come the party chasing lawyers. They are suing the guy who went to the deli because his vehicle was available to anyone who wanted to steal it!!!!

True story...New York City....

UAL HIRES NEW MBA

United Airlines must have got a deal on hiring the bottom of the class from recent MBA graduates. In this day of decreasing flyers who else would have come up with increasing the fees for checked baggage. These are the same guys who occasionally advertise ridiculous fares. Now however if you want to take more than a carry on toothbrush look to pay $20 for the first bag and may the Lord help you if you might need a second bag at $30. What business model are these guys using anyway?

General Motors and China

Well, here we are good taxpayers helping out General Motors. Our government says we can not let them fail. So we lend them billions of dollars. Two days ago they announce they are going to import vehicles from China!!! So we lend General Motors money so they can import cars manufactured in China. Are we all just nuts?