Saturday, April 17, 2010

Credit Rating II

Credit Rating II

The Credit Rating story, where Susan Hennings gets her credit rating penalized for 8 years (and still counting) without doing anything (wrong or right); or without knowing anything about not doing anything; and without being able to stop the penalties, which, as far as anyone can see, were caused starting six years before by the credit company against itself, and should have been levied penalties by the offending credit company against the offending credit company (but, really, what are the chances…) got a lot of mail.

You should see some. Here’s two:

“Hi Ed: [me, then, stupidly thinking: Hi.].

“What's your beef, Ed.[Uh-oh.].

“You don't like financial companies? You don't like capitalism? You're hiding a little, Ed. Write what you and your family say behind closed doors. Be a man, Ed. [My family? Behind closed doors?].

“You wanted to smear an industry. Ok. You tried and failed, at least with me. [Wait, you like this?] You don't possess the abilities to illustrate or the evidence you imply or both.


“You make easy and dark suggestions of malfeasance without proof. This exposes you not your target.[All right, this is a gag. Who is this…]. I know it is your right and what you're paid to do. I just don't think it is honorable.

“By the way, what grade level are you attempting to reach? [Evidently not…well, easy. Go ahead…]. The answer to your opening paragraph is because the lenders find their services valuable. It's capitalism, Ed. Duh!

“This column proves you have prejudices, Ed. [Like, maybe against England? Short people?] It’s ok, we all do. Next time share your prejudice with us on a bit dicier target. You're not to suggest that your prejudices are perfectly and solely aligned with the politically correct ones of today's scene, are you? [No, er…yes…with…not…whatever you said.] You'd seem more manly [More manly. What is this with manly?] if you wrote against what isn't so acceptable or so promoted to dislike. [“What isn’t so acceptable,” let’s see… “or so promoted…to…dislike.” Nope, can’t get it.].

“Be a man, Ed. [Oh brother.].

“Before you visit the hereafter again.

“Sincerely yours,

[A man’s name].

He signed it. I e-asked if I could share it, but got no answer. So, as far you know, I made the letter up. If you think I did, well, thank you.

Another letter intrigued me. Much duller, but in English. From Roseann LoFrisco.

“A friend of mine married an illegal alien from Turkey in 2001. She had known him for about 8 years prior. After he broke off the first engagement with her and disappeared, he (unfortunately) returned and they began living together.

“Now my friend is well-educated, owns 3 houses and has a very good job. They are living together for a few years when, lo and behold he takes off again, this time to Canada, because supposedly citizenship is easier to obtain there.

“After he has his court date there, he decided to sneak back in the US, but gets caught. She flies to Buffalo and bails him out.

“Now this was in 2000 when there was a, ‘window,’ for illegals to get their legal papers. She proceeds to fully support him, file for him, get a lawyer, marries him, and about a year ago he gets his citizenship. Last August he goes home to Turkey for a, ‘visit’—on her ticket—and doesn't come back.

“Turns out he plays the stockmarket. And apparently made some money when the market was good. Then he got this idea to apply for credit—which she helped him establish—and he gets over $200,000. from 4 or 5 banks. He is using the money to daytrade and—surprise—he can't make the payments. (Where is the money he did make, Turkey?) This comes to light shortly before he goes to Turkey because now creditors are calling the house nonstop.

“Now, here is the killer: He got the 200K with no job, and (he) owns nothing. Her name is not on these cards. (She is not liable for these balances so these banks cannot lien anything). Her mother called Chase—one of the banks—and asked how they could have possibly given him the money. A Chase staffer says it must have been an, ‘oversight.’

“Apparently, Citibank, Bank One, etc. also have these, ‘oversights.’

“Chase is asked if they will pursue him in Turkey since an address could be provided. “Probably not.” Will they do anything if he is back in the US? “Probably not.”

He is now back in this country—used her return ticket—and is working off the books.

Meanwhile, I apply to Chase for an increase to my home equity line on my home—which is the only mortgage I have, and is less than one-third of what the house is worth—and they deny me. Apparently my debt-to-income ratio is too high.

“So now you and I and everyone else who works hard to pay our bills and pays these exorbitant interest rates can pay Chase back for their utter stupidity in giving this guy with, no job, and no property of any sort, over 200K. Nice, huh.”

What do I tell her, “Be a man?”

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