morganw's comment history

morganw said...

Solyndra was a startup solar-power equipment manufacturer based in Fremont, California that went bankrupt at the end of August. The company’s solar collectors used a special tubular internal design that let it collect light from all directions, and were made with a copper-indium-gallium-diselenide thin film that avoided using then-expensive silicon. It was one of several companies that received assistance from the government, in an attempt to push back on China’s strategic targeting of green-energy manufacturing.

February 9, 2013 at 4:05 a.m.
morganw said...

I have used a pay day loan occasionally when a big unexpected bill pops up. I pay $36 to borrow $200 for 2 weeks. A bank charges you $35 to borrow $1 if you make a mistake doing math in your check book. Who are the rip off people here? One time I used the wrong deposit slip (my mistake) and my bank charged me $175 in fees for 5 $4 lunches on my ATM card even when I had $1600 in a savings account in the bank. Yes I made a mistake but the bank could have just transferred some money or taken 5 minutes to call me. By the way most banks have a way to make your card be turned down if funds aren't available but you have to ask for it. Then they often "forget" to keep that feature turned on also. Better a devil you know at the pay day loan place that is honest about his fees up front than your good buddy banker that will twist the knife he drives in your back when you are shaking his had in friendship.

May 22, 2012 at 5:56 a.m.
morganw said...

I think that the opportunity cost is the most important factor or drawback. While the loan may be cheap comparatively to other options, it will quickly get expensive with respect to the loss of income that that loan amount will not produce in interest, dividends, or returns while the loan is outstanding. And, then that interest will not compound. The benefits of compounding interest are lost forever on that opportunity cost. Typically, I prefer to borrow through payday loans no credit check. It is more convenient, as for me.

February 23, 2012 at 2:01 a.m.
morganw said...

With real wages stagnant and employment numbers still in the basement, that limits the pool of buyers. Sellers sit and complain about “lack of demand” but they fail to add the second part of the equation: “lack of demand at current pricing.” When prices drop to where buyers who are in the correct financial position to buy can afford the houses, then the buyers will be there. There is no lack of demand for housing, there is a lack of qualified buyers who are able to service the debt on loan with no credit at current pricing. The pricing is the only link in the chain with any give, which is exactly what you are seeing in the market.

February 15, 2012 at 7:48 a.m.
morganw said...

If consumer advocacy experts were really concerned about the poor, then they would be fighting the government from taking this money as an interest-free advance cash loans to begin with. If these are tax REFUNDS, then they reflect an overpayment — an overpayment actively encouraged, if not legally required by Uncle Steal-some-more. The real culprit here is the federal government which is much worse than an RAL provider. At least with the RAL provider, the money grab is upfront and voluntary. With Uncle Steal-some-more, it is obscured and compulsory. Consumer advocates don’t really care about the poor. They do care about corporations, while worshiping at the altar of the biggest miscreant of all.

January 23, 2012 at 9:43 a.m.
morganw said...

I hope they nail these guys for purgery of they say these advance loans were approved under the Bush administration. There are e-mail showing that the Bush people pulled the plug on this project and it was brought back to life and funded soon after Obama got into office. Where in the hell is the reporting on this story. Why didn't the reporter mention this fact to the idiot he was talking to?

January 7, 2012 at 9:53 a.m.
morganw said...

This is a problem caused by elitism and status symbols. Students think they are all entitled to a 200k education and don't take into consideration that financing that much money is a stupid idea. The loan amounts these kids are able to take out are ridiculous. A person of the same age and financial situation as your typical college student would be laughed at if they tried to finance a 200k house, and thats even a secured debt. Ultimately though, these are adults by law they signed the note and promised to pay and the terms were clearly stated on the loan contract. They need to pay for their mistakes themselves just as any of us would for not paying our mortgages or even small loans without credit check provided online.

December 14, 2011 at 9:18 a.m.
morganw said...

As long as access to quality education is based on the willingness and ability to pay rather than motivation and talent it will become increasingly expensive , and of poorer quality. The actual cost of higher education is probably lower than ever, the cost increases are in the mission irrelevant areas; frills, aesthetically pleasing surroundings, marketing costs , and administrative overhead. Someone should provide a good quantitative analysis of direct educational costs in comparison to total costs. And the frills are driven by the need to attract students with parents who can pay full tuition without taking out additional cash advance. With contingent faculty doing much of the teaching and regular faculty in areas where there is strong demand for their skills making as little as a tenth of their market value, teaching in ipso is cheap.

December 5, 2011 at 7:11 a.m.
morganw said...

Applicants should know SBA disaster loans up to $200,000 are available to homeowners to repair or replace real estate. Homeowners and renters are eligible for up to $40,000 from SBA to repair or replace personal property. Interest rates for residents are as low as 2.5 percent with terms for as long as 30 years. Businesses of any size may borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory and other business assets. The interest rate on cash advance is as low as 3 percent for nonprofit organizations and 4 percent for businesses. Filling out the SBA home loan application is a necessary step in order to be considered for some other forms of disaster assistance. Applicants may be eligible for more aid.

October 14, 2011 at 7:54 a.m.
morganw said...

The difference between payday cash advance lenders and banks- banks put the money into the owner's account without informing the owner of the account that the money has been "automatically' added. Thus, the owner of the account CAN NOT SAY NO TO THE MONEY. Also, the banks are the first in line when the account holder is paid by direct deposit- again the owner of the bank account has no say as to how his funds are distributed. This whole transaction- putting money into the account, charging 10% of total- even for 1 day, then repaying themselves- can all be done WITHOUT THE ACCOUNT OWNER EVEN KNOWING THESE TRANSACTIONS HAVE OCCURRED. Apparently the banks pushed for this right- not to be subject to interest rate limitations, in the Bank Act of 1980. It's time to throw this out- it would solve bounce check fees, unknown loans to account holders...

September 23, 2011 at 8:44 a.m.

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