I'm curious what Obama means by a plan for "keeping people in their homes." He's clearly referring to the subprime customers. How's he going to do that? Should we do that?
I wish I'd hear some sort of plan for introducing at least some mandatory finance based curriculum at the high school and college level. For me, that's the root cause of this. Banks wouldn't be less able to offer bad loans to people who realized they couldn't afford them. The entire financial system operates above most everyone's head, and nobody understands it until they're forced to. I had no idea what escrow was when we bought our home. I knew enough to get a fixed rate and from a good bank, luckily. I've paid off 90% of my credit card, and my wife's is mostly paid off as well. We've almost paid off our car. But I basically stumbled into the advice it took to get me to this point.
Educational stuff is a state/local decision in most cases, I realize. But some encouragement from the top would be nice.
ghostrunner wrote:I'm curious what Obama means by a plan for "keeping people in their homes." He's clearly referring to the subprime customers. How's he going to do that? Should we do that?
I wish I'd hear some sort of plan for introducing at least some mandatory finance based curriculum at the high school and college level. For me, that's the root cause of this. Banks wouldn't be less able to offer bad loans to people who realized they couldn't afford them. The entire financial system operates above most everyone's head, and nobody understands it until they're forced to. I had no idea what escrow was when we bought our home. I knew enough to get a fixed rate and from a good bank, luckily. I've paid off 90% of my credit card, and my wife's is mostly paid off as well. We've almost paid off our car. But I basically stumbled into the advice it took to get me to this point.
Educational stuff is a state/local decision in most cases, I realize. But some encouragement from the top would be nice.
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Mind you, when I explain grade percentages to my students, they stare at me as if I just invented calculus before their eyes.
ghostrunner wrote:I'm curious what Obama means by a plan for "keeping people in their homes." He's clearly referring to the subprime customers. How's he going to do that? Should we do that?
I wish I'd hear some sort of plan for introducing at least some mandatory finance based curriculum at the high school and college level. For me, that's the root cause of this. Banks wouldn't be less able to offer bad loans to people who realized they couldn't afford them. The entire financial system operates above most everyone's head, and nobody understands it until they're forced to. I had no idea what escrow was when we bought our home. I knew enough to get a fixed rate and from a good bank, luckily. I've paid off 90% of my credit card, and my wife's is mostly paid off as well. We've almost paid off our car. But I basically stumbled into the advice it took to get me to this point.
Educational stuff is a state/local decision in most cases, I realize. But some encouragement from the top would be nice.
++
Mind you, when I explain grade percentages to my students, they stare at me as if I just invented calculus before their eyes.
Best you can do is offer it, I suppose. And pay what it takes to lure good teachers out of the private sector.
ghostrunner wrote:I'm curious what Obama means by a plan for "keeping people in their homes." He's clearly referring to the subprime customers. How's he going to do that? Should we do that?
I wish I'd hear some sort of plan for introducing at least some mandatory finance based curriculum at the high school and college level. For me, that's the root cause of this. Banks wouldn't be less able to offer bad loans to people who realized they couldn't afford them. The entire financial system operates above most everyone's head, and nobody understands it until they're forced to. I had no idea what escrow was when we bought our home. I knew enough to get a fixed rate and from a good bank, luckily. I've paid off 90% of my credit card, and my wife's is mostly paid off as well. We've almost paid off our car. But I basically stumbled into the advice it took to get me to this point.
Educational stuff is a state/local decision in most cases, I realize. But some encouragement from the top would be nice.
++
Mind you, when I explain grade percentages to my students, they stare at me as if I just invented calculus before their eyes.
Amen, ghost. I wasn't clear on what an escrow was either. When I left my job and rolled my 401K into an IRA, the investment advisor asked if it was fully vested... Huh?
Only now am I really able to process the terminology, I used to allow it to go over my head. I plan on sitting down with my kids as they hit high school and college and explain each thing as the get exposed to it. (car insurance, credit cards, school loans, etc.)
