Shout-out to Arnold Trembley

[Bradley K. Sherman]

Hey Arnold, hope everything is fine in your stretch of the
woods. Just out of interest, how close are we to the
MasterCard clearing house not clearing?

--bks

[Arnold Trembley]

I'm doing fine, thanks, and so are those closest to me.

In all honesty, I haven't heard of any problems, although I don't work
directly with clearing.

My understanding of clearing & settlement is that payments move between
banks, but those payments are not loans. In the credit card world the
real loans are between the card issuing banks and the cardholders.
Remember that a credit card purchase is an unsecured loan made at the
cardholder's convenience. The only control the issuing bank has is the
cardholder's credit limit and whether or not to continue honoring the
card.

Here's an interesting anecdote - Saturday I went to the barbershop for a
haircut and there was a retiree in the chair so I had to wait. In the
usual chitchat that passes between barber and customer the old fellow
mentioned a friend with a credit score of 750 (that's pretty good) being
turned down for a car loan.

It seems to me that the banks (and other players) have money, they're
just scared to loan it out for fear it might not get paid back.

At some point every panic ends. I can't predict when that will be or
what business will look like when that happens. My opinion is that
there are real losses, and their effect is deflationary in the sense
that the virtual money supply has been reduced.

I hope you're doing well too.

Regards,

--
http://arnold.trembley.home.att.net/

[Bradley K. Sherman]

Arnold Trembley <arnold....@worldnet.att.net> wrote:
>
>Here's an interesting anecdote - Saturday I went to the barbershop for a
>haircut and there was a retiree in the chair so I had to wait. In the
>usual chitchat that passes between barber and customer the old fellow
>mentioned a friend with a credit score of 750 (that's pretty good) being
>turned down for a car loan.
>

It would be nice to be able to trade in my own near-perfect credit
score for hard cash.

Thanks for the info. Let us know if you see any monkeywrenches
headed for the works.

--bks

p.s. Nine years ago today I was filling in Y2k forms for the auditors.

[docd...@panix.com]

In article <0NhIk.67654$Mh5....@bgtnsc04-news.ops.worldnet.att.net>,
Arnold Trembley <arnold....@worldnet.att.net> wrote:

[snip]

>Here's an interesting anecdote - Saturday I went to the barbershop for a
>haircut and there was a retiree in the chair so I had to wait. In the
>usual chitchat that passes between barber and customer the old fellow
>mentioned a friend with a credit score of 750 (that's pretty good) being
>turned down for a car loan.
>
>It seems to me that the banks (and other players) have money, they're
>just scared to loan it out for fear it might not get paid back.

As my Sainted Paternal Grandfather - may he sleep with the angels! - used
to say, 'They're always happy to lend money to the ones who don't need
it'.

DD

[chris....@gmail.com]

On Oct 13, 3:18 pm, docdw...@panix.com () wrote:
> In article <0NhIk.67654$Mh5.48...@bgtnsc04-news.ops.worldnet.att.net>,

> Arnold Trembley  <arnold.tremb...@worldnet.att.net> wrote:
>
> [snip]
>
> >Here's an interesting anecdote - Saturday I went to the barbershop for a
> >haircut and there was a retiree in the chair so I had to wait.  In the
> >usual chitchat that passes between barber and customer the old fellow
> >mentioned a friend with a credit score of 750 (that's pretty good) being
> >turned down for a car loan.
>
> >It seems to me that the banks (and other players) have money, they're
> >just scared to loan it out for fear it might not get paid back.
>
> As my Sainted Paternal Grandfather - may he sleep with the angels! - used
> to say, 'They're always happy to lend money to the ones who don't need
> it'.
>
> DD

It occurred to me the other day that Alan Greenspan's reputation is
currently around the level of some previous posters to this group. He
needs all the friends he can get, maybe you should ask him for a loan?

Good tidings to all. Glad to see that those here can still afford
internet access, at least :-).

Regards

Chris Weston

[docd...@panix.com]

In article <9daf4b80-9a63-4809...@l42g2000hsc.googlegroups.com>,

chris....@gmail.com <chris....@gmail.com> wrote:
>On Oct 13, 3:18 pm, docdw...@panix.com () wrote:

[snip]

>> As my Sainted Paternal Grandfather - may he sleep with the angels! - used
>> to say, 'They're always happy to lend money to the ones who don't need
>> it'.
>

>It occurred to me the other day that Alan Greenspan's reputation is
>currently around the level of some previous posters to this group. He
>needs all the friends he can get, maybe you should ask him for a loan?
>
>Good tidings to all. Glad to see that those here can still afford
>internet access, at least :-).

It is not directly charged for in many parts of the country... stores give
it away and there are those 'library' thingies, too!

DD