How many of you received a bailout from the American government? We all know the answer to that question, no one did.
The big Wall Street tycoons are sitting pretty, now that they have unlimited access to taxpayer money.
All is not lost for individuals as long as you can identify with a few strategies to help you progress during this economic crisis.
Some of my friends were caught holding the proverbial bag with excess credit card debt, mortgage foreclosure as a result of job losses.
No one and I mean no one bailed them out.
In fact, some of the people I know had money in the bank and the banks, took every last penny they had.
Someone please help me understand, why would banks with unlimited access to the Federal Reserve dig a deeper whole for their customers and clients? The answer is because they are greedy, very unethical and they know congress has legislation that allows them to take money out of customer accounts.
Comparing the circumstances of an organization such as a bank with an individual is not the same.
In order to position yourself to strengthen your credit, I recommend you do some research on the entity you bank with.
I recommend you visit and review the website: National Information Center, it is a site and repository of financial data and institution characteristics collected by the Federal Reserve System.
Prompt on the link to the top 50 Bank Holding Companies (BHC).
Be careful where you deposit your hard earned money.
Do not take banks for granted because a lot of fuzzy congressional language is in the works.
Be mindful that banks increased the interest rates on your credit card and reduce your line of credit without notification, refused to work with you to provide mortgage loan modifications and now they are making billions of dollars per quarter on the backs of taxpayer dollars.
My friends the bank is not your friend.
Be careful where you deposit your money and or do not deposit your hard earned money in a bank you cannot trust or who will not trust you.
Next, set up a system to pay your creditors by money order or cashiers check, you do not want banks taking future earnings and by the look of things Congress is about to sign a bill to allow banks to monitor your bank accounts, how big brother is watching you is that? If you have the opportunity, pay off all of your debts and live within your means.
By the look of things what just happened in the country of Greece is a prelude to what is likely to happen in America, in other words the Greek government mortgaged their finances with insufficient tax revenues to pay the bills.
By the way, for all intensive purposes, America is a bankrupt country.
Pay off all of your bills, live within your means and control every dollar you earn and hold on for a wild ride in the coming months and years.
Monitor your credit score as well, because we are likely to encounter hyper inflation in the near future, the price of goods and services are going to mushroom, look at the price of gas today.
All in all, we are going to have to look out for ourselves.
The U.
S.
government is not going to bail out individuals and they cannot afford to provide assistance because of the multi-trillion dollar debt we are creating for our grand kids.
Be of good faith and remember you are not alone, other hard working American citizens are in the same boat.