Cleaning up after dinner, I hear this while watching the Spurs game. "Nobody likes having their credit checked. At Aaron's, we NEVER check your credit - you're pre-approved! So come on into Aaron's today!" I think that about sums it up.
What's wrong with you. It is a good thing for a borrower not to be checked. So said that you should have a credit record in the first place. The only people who like it are the lenders. It is good for the borrowers not to be checked. Does you family check your credit when you borrow from them? And by the way the reason of the problems is not that people are defaulting, but the main reason is that debt securities have to be marked to market. The price of risk changed because of the market not because of the fundamentals. The lenders are leveraged themselves. So, because of mark to market, they have margin calls/liquidations. And that there lays the problem. Market-to-Market, which swallows the less capitalized lenders.
A. First, San Antonio is a shit hole town full of dead beat, uneducated individuals. Last statistics stated that less than 20% of the population have a college degree. Median fucking income is 32K for an educated person and combined income is 44k for married individuals. The median home price is a fucking whopping 150K. B. That "Store" you posted is where all the San Antonio natives, who are in massive debt, go to get their 50inch screen TVs. That "Store" would make more money if they sold rims. I believe they are big in the South west region as it is. Very poor region over all, per capita. C. Fuck the SPURS and the lame ass town they represent. What do you expect from a town that has a population of 1.7 million and only one sports team? Broke ass city. I have to watch the Giants and the Ducks on TV because they don't play football or hockey in this fucking town. (There amatr. teams suck.) I have to watch the fucking Mets on TV, so I get to throw shit at it! Yes, I live downtown near the river walk in a Brand new loft,which I stole it from the developer. I am in the "Financial Business" but do not deal with any the of poor ass locals. Yet, have dealt with a few movers and shakers from ATX & Houston. SA's Real Estate Crash is coming shortly. Their Loft prices state at 250k to a Million....lol.......only suckers are purchasing at those prices. (most of the units are either behind schedual or sitting empty anyways.) However, there are a few fund managers that i speak to from time to time that have their small trading offices in SA. They do not hire from the area nor would they think about drafting from the local gene pool. Yes, One pissed of Yankee making money in one Shit Hole town called San Antonio TX.