I guess Bank of America is going to be begging for a taxpayer funded bailout after they give all these mortgages to people who can't afford to pay...

[AZrailwhale]

Where is Marine Corps OCS? Last I heard it was in Quantico.

Logically it would be Quantico, they wouldn't want potential officers to be on the same base as the boots at Paris Island. As an Army EOD trainee I spent three weeks at Quantico and despite not being under the thumbs of the Marine NCOs, it was not an enjoyable experience. We were used to Navy chow and loose discipline so the Marine E-6 in our class was fighting a constant battle with the local NCOs who were trying to harass us like they did their troops. They especially didn't like me as an eighteen-year-old Army E-4 telling them to back off and get out of our area since it was off limits to the marines. A lot of our work was done at night, so we tended to be laying around the barracks partially dressed or sleeping during duty hours or dressed in unstarched fatigues with muddy boots from shafting for bombs in their impact areas. That was after nearly four months of school, and we were the six survivors of the forty-eight men who started in our class. We were used to getting respect from the E-7s, E-8s and E-9s who were our instructors at the Navy operated EOD school. By that time both we and the instructors considered us a part of a small, elite fraternity split between the Army, Navy, Marines, Air Force and Coast Guard. We didn't take kindly to some knuckle dragging Marine E-5 or self-important E-4 Corporal getting up in our face in our own barracks or the BX.

 

[Harpy Eagle]

Where is Marine Corps OCS? Last I heard it was in Quantico.

Still is

 

[AZrailwhale]

I lived 90 miles east of SF for 45 years and I agree the Presidio is a beautiful place--one of the prettiest on the SF peninsula. Fort Baker would have also been very nice, but if you had to commute across the GG every day, that could be a problem. I understand the bridge toll is $20 each direction. Forty bucks a day is a little spendy. It used to be that only northbound paid and all the other bay area bridges charged westbound only.

Wow that has gone up. When I was stationed there in 1971 it was fifty cents Northbound only. Our explosive bunker was in one of old coast artillery emplacements on Fort Baker and anytime we transported explosives we had to drive all the way around the Bay since neither the Golden Gate of Bay Bridges allowed explosives across them. Did you ever go through the tunnel from the 101 to Fort Baker? That was always an experience.

 

[Harpy Eagle]

What happened to MCAS Kaneohe, HI and Marine Corps Recruit Depot Parris Island, NC. Doesn't El Toro exist anymore?

MCAS Kaneohe is still there.

Parris Island is in SC, not NC and it is still there.

El Toro closed 20 years ago, maybe more.

 

[Concerned American]

Did you ever go through the tunnel from the 101 to Fort Baker?

Yep, I've been all over that area. We went onto Ft. Baker headed to Stinson Beach in my VW when I was dating my wife in 1974 when my coil went out. Had it towed to a service station in Novato where we sat all day while the gas pumper scratched his head. The evening guy came on and we were out of there and headed for the central valley half an hour later--and $25 lighter--fair deal.

 

[Toddsterpatriot]

Whatever. The housing debacle was a money loser for the government with all of the government guaranteed loans that were defaulted on. It really doesn't amount to a hill of beans if one program paid back--the majority did not. If you believe the creative accounting that comes out of congress, you probably think the Build Back Better program was beneficial and not a democrat pork program as well. I've devoted enough time debating a point that has no end. Thanks.

The housing debacle was a money loser for the government with all of the government guaranteed loans that were defaulted on.

I'm talking about TARP. The Treasury lent money to the banks to prevent the banking system from collapsing like it did in the Great Depression when something like 35% of banks failed.
It worked. The banking system survived. The banks paid back the loans. The Treasury made a profit.

If you want to say that the government lost money when the economy crashed, well duh, that's what happens when the economy crashes. Is the government way too involved in housing? Yes.
Is the government way too involved in most sectors of the economy? Yes.

If you believe the creative accounting that comes out of congress, you probably think the Build Back Better program was beneficial

BBB is one of the dumber, giant wastes of money that the government has ever passed.
And that's a pretty high bar.

 

[Dragonlady]

Banks lost too?????

Yes. It was in all the papers.

The banks and Wall Street made millions, and used their bailout money to pay bonuses to the guys


And then the banks paid back the bailout money. It was awful!

Only half of the the bailout money was recovered. The TARP moneys were repaid, and all or most of the GM bailout money was recovered, but the original bailout bill was $800 million, and only about $450 billion was recovered.

Good, and it shouldn't be. Rent is rent. Flushing money down the toilet. The way its always been.

Just like using a debit card doesn't build your credit. I rented for years paid on time every time and when I went to get a mortgage they didn't care about that. And they shouldn't.

Yes they should. The most important aspect of giving credit is the character of the borrower.

A handout is a handout. It is still a redistribution of wealth by the government and it is wrong. I'm not sure what point you are trying to make. I guess I am misunderstanding. On one post you seem to be in opposition to government handouts and on others you seem to be attempting to justify them.

 

[Toddsterpatriot]

Only half of the the bailout money was recovered. The TARP moneys were repaid, and all or most of the GM bailout money was recovered, but the original bailout bill was $800 million, and only about $450 billion was recovered.

but the original bailout bill was $800 million, (I guess you mean $800 billion?)

$635 billion was disbursed. Don't know where you got $800 billion.......

and only about $450 billion was recovered.

$390 billion plus $353 billion in dividends, interest and other fees.

 

[Admiral Rockwell Tory]

Only half of the the bailout money was recovered. The TARP moneys were repaid, and all or most of the GM bailout money was recovered, but the original bailout bill was $800 million, and only about $450 billion was recovered.



Yes they should. The most important aspect of giving credit is the character of the borrower.

The data has been posted numerous times in this thread. You are full of shit, Canuck!

 

[Toddsterpatriot]

and all or most of the GM bailout money was recovered,

Bailout Tracker

ProPublica is still tracking where every dollar of taxpayer money from the 2008 bailout of the financial system has gone. See for yourself.

projects.propublica.org

More like 78%.

 

[airplanemechanic]

Yes they should. The most important aspect of giving credit is the character of the borrower.

Using legit means to judge that.

If you want credit, get a credit card. If you want your rent to help your credit, ask to have your rent payment charged to your card.

Rent is rent, its meaningless. Why? Because you have nothing at stake. You haven't BOUGHT anything to gain credit paying off. You can only build credit by paying off things that you PURCHASED. You can put equipment rental on a credit card, but at that point it becomes a purchase. Rent for housing is different. It is not reported to credit bureau's.

 

[Harpy Eagle]

Using legit means to judge that.

If you want credit, get a credit card. If you want your rent to help your credit, ask to have your rent payment charged to your card.

Rent is rent, its meaningless. Why? Because you have nothing at stake. You haven't BOUGHT anything to gain credit paying off.

You are truly bought into the credit score scam.

Get a credit card, buy groceries once and spend the next year paying off the card and that means you are worthy of more credit.

Pay your rent on time for 5 years and it counts for nothing. Even though it shows far more reliability than the credit card.

Biggest scam around.

My 27 year old daughter has a credit limit of 70 grand on her card. For the past two years every time she is able she ask for a higher limit. She has about a 10 grand running total on it due to the travelling she does for work. She pays off the old and add new. It is not her money, it is her employer paying her expenses. Does this make her a better candidate for owning a house than someone that has faithful paid all their bills and rent on time for the past 5 years?

She would laugh at that idea.

 

[airplanemechanic]

You are truly bought into the credit score scam.

Get a credit card, buy groceries once and spend the next year paying off the card and that means you are worthy of more credit.

Pay your rent on time for 5 years and it counts for nothing. Even though it shows far more reliability than the credit card.

Biggest scam around.

My 27 year old daughter has a credit limit of 70 grand on her card. For the past two years every time she is able she ask for a higher limit. She has about a 10 grand running total on it due to the travelling she does for work. She pays off the old and add new. It is not her money, it is her employer paying her expenses. Does this make her a better candidate for owning a house than someone that has faithful paid all their bills and rent on time for the past 5 years?

She would laugh at that idea.

Because paying rent is not reported to credit bureaus. If someone is that good at paying their rent on time, they should get a credit card, they are FREE, and use it. THAT builds credit.

Paying rent is not buying something with money you don't have and paying it off later. The whole idea of credit is that you are a reliable RETURNER of money you borrowed to buy something that you "theoretically" couldn't afford at the time.

Paying rent is just paying rent. It's no different than paying your light bill on time. You aren't borrowing money to do it to pay back later so it doesn't go towards your credit score unless you do like I do, and put your light bill on your credit card. Then I get cash back for the purchase AND keep my credit above 800.

 

[22lcidw]

You are truly bought into the credit score scam.

Get a credit card, buy groceries once and spend the next year paying off the card and that means you are worthy of more credit.

Pay your rent on time for 5 years and it counts for nothing. Even though it shows far more reliability than the credit card.

Biggest scam around.

My 27 year old daughter has a credit limit of 70 grand on her card. For the past two years every time she is able she ask for a higher limit. She has about a 10 grand running total on it due to the travelling she does for work. She pays off the old and add new. It is not her money, it is her employer paying her expenses. Does this make her a better candidate for owning a house than someone that has faithful paid all their bills and rent on time for the past 5 years?

She would laugh at that idea.

Credit Cards are the legitimization of the Fiat Currency. Fiat currencies are negative money. Interest on debt is the gold to the owners providing it.

 

[Concerned American]

Because paying rent is not reported to credit bureaus.

Because paying rent is flushing your money down someone else's toilet that you paid for.

 

[Harpy Eagle]

Because paying rent is not reported to credit bureaus.

Yes I know, they cannot profit off of it, thus they made sure not to count it.

The whole thing is a scam to enrich the banks that control the whole thing.

Paying rent is not buying something with money you don't have and paying it off later. The whole idea of credit is that you are a reliable RETURNER of money you borrowed to buy something that you "theoretically" couldn't afford at the time.

Which is just stupid. The whole idea should be that you are a reliable USER of money, especially when it comes to a house.

 

[Harpy Eagle]

Because paying rent is flushing your money down someone else's toilet that you paid for.

so is paying interest on a credit card, but that will help your credit score.

 

[airplanemechanic]

Yes I know, they cannot profit off of it, thus they made sure not to count it.

The whole thing is a scam to enrich the banks that control the whole thing.



Which is just stupid. The whole idea should be that you are a reliable USER of money, especially when it comes to a house.

So you think you should build credit for paying your bills on time? Light bill? Water bill? You think because you dont stiff people that you signed up for services with that you should get credit for that? Well you do, they don't ping your credit for NOT paying your bill.

 

[Concerned American]

Interest on debt is the gold to the owners providing it.

So get a credit card with no annual fee (forget the interest rate), use the hell out of it and pay it off EVERY month without fail. Your credit rating will go through the ceiling but the issuing bank won't like you very well. Buy a home and build wealth, stay liquid in all other aspects.

 

[Concerned American]

so is paying interest on a credit card, but that will help your credit score.

You can have and use a credit card without paying a dime of interest if you manage it properly. I use the hell out of mine, but I pay it off EVERY month and I've done that for over 10 years. Staying liquid and debt free is the best advice anyone could follow. CC's are great. When you consider the freebies from points, I can't think of a better deal and your rating will remain above 800.