Saturday, October 11, 2008

Some good news about the financial crisis

Actually there is very little good news about the financial crisis. I suppose if you have a safe job, are looking for a home (if you can get credit) or just starting with a k401 there are some benefits.

I already have a home, have a diminished k401 and work in an industry with a proven record of layoffs.

So what is my good news? It's simple... LESS JUNK MAIL CREDIT CARD OFFERS.
For years, I have been getting daily offers with "courtesy checks" from my friends at Capital One and other "banks".

I tried to remove my name from these mailings, registering with the Catalog Choice and DMA Choice to no avail. But now I am completely Credit Card offer free. I haven't received one offer since this meltdown happened. It is uncanny and a little disconcerting since one financial strategy might be to pay secured loans (like the home mortgage or a car) with UNsecured loans (advances on a deck of credit cards). When the bills come due I could simply shrug my shoulders, apologize and direct them to Washington for a bailout. The loans are unsecured, so besides the annoying calls from collection agents, there is nothing they can do.

[Disclaimer - I'm just joking]