Occupy Underground

Thor_MN

(11,843 posts)

12. My nephew asked me to co-sign a small student loan.

Sun Mar 24, 2013, 12:43 PM

Mar 2013

It was from the bank where I have one of my accounts. They were going to charge him 10% interest. They pay me less than 1%. I gave him the $2000 outright.

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Not just Cyprus! Who Else Has Plans To Grab Small Depositor Savings To Bail Out Failing Big Banks? [View all] sabrina 1 Mar 2013 OP

DU Rec Tuesday Afternoon Mar 2013 #1

The interest paid on savings and CDs is insulting AndyA Mar 2013 #2

This has to do with the repeal of nationwide usury laws, Benton D Struckcheon Mar 2013 #3

Thanks for that information. sabrina 1 Mar 2013 #7

Ten year Treasuries are @1.91% Benton D Struckcheon Mar 2013 #10

Well, one reason is profits for the Banks I suppose. I just reread your sabrina 1 Mar 2013 #11

I don't want to totally hijack this so I'll start a new thread on usury itself, Benton D Struckcheon Mar 2013 #15

Thread started Benton D Struckcheon Mar 2013 #21

Thanks, I get it now, you explained it very clearly. sabrina 1 Mar 2013 #43

Probably when they were allowed to invest in the stock market... rwsanders Mar 2013 #26

I think you nailed it. Just like they are trying to get their hands on the SS sabrina 1 Mar 2013 #36

My nephew asked me to co-sign a small student loan. Thor_MN Mar 2013 #12

that is good of you ... however it didn't help his credit rating. nt littlewolf Mar 2013 #20

You think a 10% interest rate is good for him? Thor_MN Mar 2013 #24

true I might have let him get the loan and then littlewolf Mar 2013 #31

He has other loans. Thor_MN Mar 2013 #32

It's a student loan. NEVER take a student loan. Sirveri Mar 2013 #47

You did your nephew a huge favor! abelenkpe Mar 2013 #28

I think that was a great decision. sabrina 1 Mar 2013 #35

Actually, the extremely low interest rates are just an alternative JDPriestly Mar 2013 #23

Yes, and while dividend-paying stocks are yielding a bit more. BadgerKid Mar 2013 #25

K&R AnotherMcIntosh Mar 2013 #4

Moving our money can help but probably not stop them from getting it in the end. rhett o rick Mar 2013 #5

The only way to keep them from getting our money seems to be to sabrina 1 Mar 2013 #13

There is a risk of course of theft. But also, would paper money be best? rhett o rick Mar 2013 #27

I don't know whether paper money is best. I know a few people who sabrina 1 Mar 2013 #44

Historically gold has always been accepted as a unit of value. rhett o rick Mar 2013 #46

Are they going to let the banks fail or bail them out again? starroute Mar 2013 #6

There are a few articles linked in the original article. Good question sabrina 1 Mar 2013 #9

OWS is "the only threat to their criminal activities," bvar22 Mar 2013 #8

I will never forget that. Henry walked into Congress like King, handed sabrina 1 Mar 2013 #14

That scene, with Paulson, in front of the TV cameras, bvar22 Mar 2013 #22

"Martial law" KansDem Mar 2013 #52

Remember, Congress voted against the bailout initially after they received so much pressure sabrina 1 Mar 2013 #53

Yes! KansDem Mar 2013 #55

While I share your disdain for big banks customerserviceguy Mar 2013 #16

They're also doing their best to criminalize any opposition to corporations starroute Mar 2013 #30

Attempts to criminalize the videotaping of violent police tactics... KansDem Mar 2013 #54

True, but we know that Wall St owns politicians. So it seems to me they sabrina 1 Mar 2013 #45

I admit to knowing very little about finance but Sadiedog Mar 2013 #17

It is outright theft. What else can it be called? I don't know much about finance sabrina 1 Mar 2013 #38

HUGE K & R !!! - Thank You !!! WillyT Mar 2013 #18

Plunderball: catchy name! Demeter Mar 2013 #19

Why don't governments all over the globe abelenkpe Mar 2013 #29

No, you're not the only one asking all those questions. sabrina 1 Mar 2013 #48

Excellent post...but scary as hell. AikidoSoul Mar 2013 #33

I think, if it had done nothing else, OWS demonstrated how far sabrina 1 Mar 2013 #39

I found out that money is seldom safe when it comes to banks. Social Security money is not supposed jwirr Mar 2013 #34

Are we at a point then, where the only way to keep your money safe is sabrina 1 Mar 2013 #37

I put mine in GoDirect which is still in a bank but it is a FED bank that holds our social security jwirr Mar 2013 #49

Well for me its like what money? Sadiedog Mar 2013 #40

Lol, same here, but I'm thinking of people who want to save and have sabrina 1 Mar 2013 #41

I know it is just disgusting . Sadiedog Mar 2013 #42

OWS needs to get more power. loudsue Mar 2013 #50

Banks would put a stop to it pretty quick once they noticed a pattern of withdrawal woodsprite Mar 2013 #51