Interesting point about VW and Porsche ... I read a bit of the article and I understood that 20.1% has blocking voting power in VW??? What ever happened to 50 +1 % to make a vote stick? there you go 20% controls the 80% (the golden rule). This is what I see. people making the rules and changing the rules to make things work for them, they are the ones in power even though they don't have majority 51% they can do what they want. This is what doesn't work.
AIG 60Billion gone? Run to the hills. It is time to start farming. Leave the city. I wish I knew how to farm
that was for the most recent quarter! If you don't know how to farm, then make sure you know how to ride a dirtbike fast, through the farm field!
BOC dropped rates by 50bps. royal banks also dropped prime to 2.5%! Yeah hah for those with variable rate mortgages!
And TD have upped their floating rate line of credit from prime + 1% to prime + 3% Not to be out done HSBC upped theirs from prime + 1% to prime + 4% And yes, I deal with both of these eph-in b4st4rds! So now you know, there is absolutely no advantage to going with a floating rate. None!!!!!!!
my LOC is at prime and stays that way unless i change the limit. I got it as a emergency back up but it is tempting to use at times. R
I guess that depends on when you set up the debt in the first place. One of my mortgages is at prime less 75bps. My LOC, is prime. If you are trying to establish a debt position now...they see you coming and there is little or no chance whatsoever of prime minus anything and you would be lucky to get prime on variable rates now.
all the banks will do variable rate mortgages, but they will also be prime + 75bps or more. I guess every situation is a bit different, but I have not heard of that being the case.
There is little debt, and their actions will ensure it is eliminated within days. The TD LOC was established 20 years ago. Never a late payment. The HSBC LOC was established 4 years ago. This one is fully paid up, but will be closed as soon as I get the chance. Again, never missed a payment. It was these 'institutions' that offered me these instruments in the first place. Now, they don’t need scum like me and have made their feelings on this subject very plain. I have held up my end of the bargain at both of these worm holes. They have not. :x :x :x :x :x :x :x :x :x
You know the bank is designed to get people to take credit and spend money they do not have right now to buy things that they don't need right now. And when this happens the item that you purchase ends up costing you almost twice as much. An option would be to save and wait a few years or what ever it takes to put money aside then purchase the item outright. Many of my friends tell me this thinking would hurt the economy, but I beg to differ. It would benefit the economy because people would still purchase things but they would purchase things that they could afford. Unless one is buying a house, or to fund schooling or other big purchases that are necessity...then there is little choice in the matter. I guess there are two ways of thinking... use credit and make the banks rich for doing very little of anything (they just hold money they don't make anything or do much of anything other than hold and lend money), or save up ... put money aside and purchase what you want (Want is the different thing than the Need, which I think many people have confused the two). Banks are part of the problem. They are controlled by the Masons.
That is exactly what I am doing. This whole down-turn has opened my eyes. Every facet of the financial community has done nothing but repeatedly demonstrate they are untrustworthy, mealy moneygrubbers. They CANNOT be ‘partners’ of any kind. I put them in the same category as ambulance chasers and common thugs. Disreputable and disgusting leaches on society. Beware and engage at your own risk.
Agreed. To see what kind of trouble the US is in, check out: http://www.pagetutor.com/trillion/index.html
TD sucks. I just fired them from my reg bank (personal and business) AND my mortgage. They kept increasing their fees, a little at a time. I walked in and told them they are losing me as a long time customer, I had enough. Went to another bank, with far less fees (Scotia). My mortgage was due for renewal last year (also TD for over 10 years). They would always match a rate if I found a better one. Then a light went on over my head (happens), this is backassword! Others are giving me a better rate FIRST ! I called TD, told them my mortgage is also going to another place. Of course she immediately offered to match the rate. TOO LATE! I replied, I'm tired of playing this game, you lose. They have NO loyalty to me, so why should I offer any loyalty to them...
TD lost me years ago , I had an account there for 10 years when a check was deposited with info not matching from my motherinlaw , whitch was only for a small portion of the money I had in there they froze my account the friday befor a long weekend and I WAS GOING AWAY. Had to borrow some money from my mom for gas. [-X [-X Now with PC Saving 120 plus a year in fees.
Sometimes the banks just don't see the big picture and realize that a person is on the other side of every one of those account numbers. When I get a banking issue that arises, I generally just move up the "food chain" with my complaint from the cust serv rep, to their manager or further and the issues are usually resolved in a satisfactory manner. I have dealt with Royal all my life and feel I have built up some loyalty...
You know the question of loyalty. The bank will like us believe there is some loyalty both ways. But you know for the longest time my bank adviser was advising me to open a line of credit. He explained that I never had to use the money. But you know if I was to loose my job and I needed the money it would be there for me..... I always scratched my head about this idea and always responded by.... If I loose my job today can I get this line of credit. He responded NO because the bank would see that you can not afford it. He would go on to say that is why you get the line of credit before something goes wrong with your job. Is there something wrong with this whole picture? Basically it looks to me like they want me to take a line of credit when they know they can get their money back, but they don't want to give me money when I need money at a time that I have no cash flow. Basically they want me to buy things with this line of credit that I don't need and charge me extra for that. Thanks, but no thanks. ... when the time comes I will tell them give me that line of credit I was just laid off and need to buy food. They are loyal when they know you can be loyal to pay them back with interest!!!
