Million Dollar Line Of Credit

No, it's corrupt. Is it fair? Hell no!!!!! Should we reward every disciple of Jesus with the means to sin with all that money. A real pastor should realize that money should be going to charity and helping the poor, not helping Pastors buy a multi-million dollar estate with enough money to spare for a couple German cars. And we wonder why our Church system is broken.........great question. Hopefully someone that is in charge of giving away that money will grow a brain soon and stop this madness.

2008-06-02 23:02:22 by guy chi

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Discovered Obama's pastor, Rev.Wright has $1 million home right near the golf course in all white neighborhood, and owns the Church property. No average pastor could afford like this. Average Pastors usually afford average$ 75,00 to $200,00 homes. Today,the information I read an article from Political News, now heard about it from the News networks-CNN, and Fox Channel, and MSNBC. Where do you think he get the money from to live in the luxury home?
Hey,Odogwunn, I am not mad. I am an independent voter. I am just surprised to see the numbers of money he has for the kind of pastor thing. I am not attacking or bashing something to Obama supporters, honestly.

That's the last straw! There is NO WAY I'm voting for Obama now! ;0)

2008-04-15 20:03:01 by Julie G

What is wrong with Reverend Wright getting a $1.6 million dollar home paid for by the church, property taxes paid for by the church, plus a $10 Million dollar line of credit?? http://www.stoptheaclu.com/archives/2008 ...
I am not expresing my opinion. Only seaking your input.

The Rev, Wrought is doing nothing that others in his position haven't already done. There is nothing wrong with what he's doing except it has fall out on the Obama campaign. Rev. Wright needs to lay low and get out of the lime light if Obama is going to survive.

2008-04-19 11:32:01 by AVATAR 11/10

My job is most focused on customer service but I am familiar with the basics of financial analysis. I can read a financial statement and an income statement. I am familiar with most office based programs. I have been working for an excellent worldwide company that can carry a lot of weight on a resume. I do not have any documented slaes experience but I do have documented collection and reconciliation experience. I also have worked with other businesses both face to face and over the phone. I manage multi-million dollar credit lines in the commercial lending arena and I have been focusing on handling repossessed and liqudating accounts for the past 8 months. I am well spoken and I feel I am capable to learn any skill set placed in front of me. I'm not exactly sure what I want to do though. I want to make money like everyone else but I have never been drawn to a particular field. I guess I just want to know what I should look into. I make $40K now. Can I make more? How? Thnx for reading

Account management for a bank would be a good choice.

2007-01-08 16:49:51 by onthedlyoshi

I don't understand the issues around credit. First, I often hear that to fix the economy we have to have banks start lending..Isn't that what caused the problem in the first place and would even drive our debt out further?

Second, how does this much credit debt AND potential credit available even exist? It's clear nothing really back the US dollar anymore since they're still printing and we have no true clear asset. So are credit lines just ultimately made up? If you take a major line such as the credit line that Chase or Discover uses to issue credit to their customers, well who supports that credit line? How is it backed or is it basically made up on expectations of earnings?

For example, say that with my home, cars, income, etc my total net worth is $300,000 in 2009. So if I would default on a loan, that is the max they could take from me, except for garnishing paychecks. Now, and even before the meltdown, I couldn't walk into a bank and say I'd like a 1 million dollar line of credit please. But isn't that what basically happens on a larger scale?

Also, does credit tie into why now gas is so much cheaper? I know they say demand dropped, but I don't know if I believe that 100%. Seems like the whole economy started falling down when gas went up, then all of the sudden it crashed. I heard some theory is that investors were asked to pay the full amount of the hedge funds they bought at 10% of the value.

But now you don't nearly hear about "futures" trading as much and gas is low, so how can it even be justified that oil was over $150/barrel and now its back under $50?

We are suffering from a glut of bad credit from time period before this bust (from now on referred to as the boom). The bulk of the boom started in 2001 when Alan Greenspan lowered interest rates to 1%. This caused a ton of loans to be taken out and investments made in many things. This is due not only to 1% being a low rate of return but also that it signals something. Interest rates are supposed to be directly related to savings rates. When savings are high, interest rates are accordingly low (self-evident if you look at the viewpoint of the bankers). So these low interest rates signaled to investors that people were saving a ton of money and preparing for the future that they were investing in.

Not true. Savings has declined and declined in this country to the point that it is now near 0. So then debts started being called in. After all, you can't loan money forever and then not pay it back. Debtors started realizing something: their investments weren't paying off (think of homes and how people stopped buying at some point). Credit crashed and that's why we are where we are now. Many businesses went under because they couldn't pay back their loans. Bank notes were realized to be worthless and this is causing deflation. People would rather find new work than take a pay cut so people are being fired (this is only temporary as people will eventually work for lower wages since prices are also falling).

So what do we do to fix this?

Well since we have no savings, we really don't have money to lend. Government needs to stop trying to get us to lend and to spend because we need to save if we are ever going to pay back our debts and move on to prepare for the future. Second, we need to get rid of minimum wage. This will effect the poor as their wages are dropping to a point below minimum wage. Lastly, we need to either abolish the federal reserve or they need to raise their interest rates. We need to stop expanding credit because nobody has any money for the future so basically any loans that go out now are guaranteed to be a loss. Raising interest rates encourages us to save and move on.

And that is the only way that we can get out of this. We need to swallow our medicine and stop thinking that government can help us avoid this. We created the bubble and it has popped. These are the repercussions of the boom years.

2009-03-26 05:30:31 by smckech1972