....and so it begins

[Mega]

http://www.youtube.com/watch?v=jGC1mCS4OVo&eurl=http%3A%2F%2Fmarket-ticker.denninger.net%2Farchives%2F1419-And-So-It-Begins-Debtors-Revolt.html&feature=player_embedded

You may or may agree with her, point is there is no shame now attached to NOT PAYING THE BANK.

Mike

[globaleconomicollaps]

I tried a "protest" like that back in college. It didn't work out so good. I also didn't get any sympathy from friends or parents.

I am not sure it was apparent from the video, but I infer that she doesn't have enough money to pay off her card. I put this in the same category as "Jingle Mail" ( the practice of foreclosed home owners mailing their keys to the bank ). It was going to happen anyway so why not have a face saving hurrah.

[metalman]

http://www.youtube.com/watch?v=jGC1mCS4OVo&eurl=http%3A%2F%2Fmarket-ticker.denninger.net%2Farchives%2F1419-And-So-It-Begins-Debtors-Revolt.html&feature=player_embedded

You may or may agree with her, point is there is no shame now attached to NOT PAYING THE BANK.

Mike

and so nothing begins.

did you forget our 'jon stewart boxes jim cramer's ears' thread?

the bullhorn will drown her out like a fly buzzing a sikorsky.

http://members.arstechnica.com/x/prophetm/futility1.png

maybe if 10 million debtors organized it'd make a difference... and to have an organized movement you need a leader.

who's going to do that?

karl?

http://img.vpimg.net/2017780.large.jpg

sorry... don't see mass appeal here.

if it ever got to msm attention level, the bullhorn will emit loud noises to discredit her... 'she's a deadbeat... beats her kids... used to work in porno...' they'll make it up so she has to spend her time clearing her name. it's the word of the msm against hers & who is she compared to fox or cnbc? an unemployed crank with no means. perfect target.

if karl puts his $$$ where his mouth is and sends her $$$ to defend herself from the onslaught i'll change my view.

[jk]

the "protest" is otherwise known as filing for bankruptcy. i had a patient who filed on $103k [!] of credit card debt.

[vinoveri]

the "protest" is otherwise known as filing for bankruptcy. i had a patient who filed on $103k [!] of credit card debt.

was that after he paid his medical bills with his credit card?:D

[Quincy K]

Let me guess. This floozy is married to that axe-wielding, bat-swinging, ex-UAW worker that spends all his time beating up defenseless Chinese toys. One thing about many Americans is that they always try to blame someone else or play the victim. In all likelihood, you probably won't have a problem with a bank unless you have some other problems, which the bank is probably well aware of.

As for myself and the majority of others here, I think I'll keep playing the game. I have a 819 FICO and access to 300+ unsecured. A simple phone call away. Never had a problem with credit.

But then again, I don't have any problems.

[chr5648]

Nah, Its no debtors revolt, its just another woman PMS'ing.

Once you've seen one, you've seen them all.

[karim0028]

Laugh all you guys want... I'm seeing alot of people that i would consider in a middle class income bracket ~80-100K and are having no problem defaulting on mortgage debt, especially in Phoenix or Sacramento (where i used to live)....

Alot of people that are upper middle class got sucked up into the mortgage debt bit... Credit cards are usually another story (bc its usually bad money management). People that have CC debt are usually cash poor, not necessarily that way with mortgage debt....

If your not cash poor its usually worth while to default (if you are severely underwater) and try and negotiate a settlement for 10-50% of the debt (if your not worried about getting credit for another 2-5 yrs)... Otherwise you just continually drown in interest payments...

People will eventually begin to figure that out...