If all credit card issuing banks froze their cards to new charges...

[sharesunited]

would the Paulson plan suddenly find popular support?

Oh since you 'splained it to me THAT way!

[ret5hd]

1. You mean "if my abusive spouse hits me again i will tell him/her i love them"?

[lligrd]

2. Still Wouldn't Get My Support nt

[DJ13]

3. That might begin a renewed call to reregulate credit cards

Think they want to push that button?

[sharesunited]

4. Re-regulation to force extension of credit upon an unwilling lender? That's a bluff!

[DJ13]

7. No, to never ever let them see a rate above 10% again on any account

The original usury law.

[DefenseLawyer]

5. Wouldn't sway many here.

They seem to want to go back to the barter system. Credit? Hell we don't even need currency.

[Marsala]

6. Anything to destroy the eeeeeevil corporations. n/t

[kestrel91316]

8. I for one would pay for Netflix and the few other recurring charges by

debit card tied to my checking account. And I would pay the bare minimum most months to pay off the ccs, and pay by cash or check for most things. Like I do now.

[Marsala]

9. So would I. But there are millions who can't do that.

Not to mention the businesses that can't meet payroll without borrowing. It would destroy the economy if a credit freeze happens.

[kestrel91316]

11. I am not convinced it would "destroy" the economy. It would wreak havoc,

but after an adjustment period sort of akin to what we all went through when banks did away with the "float" before checks cleared that we all took advantage of, we got used to the new reality.

Some of us would suffer more than others. I would actually be happier if I went to CASH ONLY for payment for my services, lol. No delay while clearing, and no percentage taken out for "processing". A lot of small businesses might actually do better this way.

[Coventina]

15. How many of your customers could afford to pay you in cash?

My last trip to the vet cost me $222.00. No way could I pay that in cash.

I'd bet you'd see a lot less business. People would try to doctor their pets at home or just dump them.

Not that I'm saying I would ever do that to Sarah, though. I'd beg my vet for an installment plan. Or find another vet that was cheaper (if possible).

[mhatrw]

10. No.

This plan is not the only possible plan. There are many alternatives for mitigating this crisis other than simply handing Goldman Sachs a $700 billion line of tax payer credit to overpay for Wall Street's bad assets as it pleases with no real oversight.

[sharesunited]

12. But if the defeated plan is the one preferred by the people who can cut you off?

Don't they have the power to make you see things their way?

[mhatrw]

19. Not me personally.

And we the people have the power to remove these people from power if we so choose.

[jwirr]

13. I don't know about others but I froze my own bank cards - they are

the worst thing that has happened in my life. That is not to say that I do not use credit but I ONLY use loans for absolutely necessary items that allow me to pay a fixed payment each month and then it is done.

[slackmaster]

14. If they did that, I would order pizza

But I'd have to go pick it up myself, and pay cash.

[dkf]

16. We need to go back to the days when credit was hard to get

and people spend based on what they have in their bank accounts.

[scheming daemons]

18. Hard, yes.... impossible, no. It will get IMPOSSIBLE.

[scheming daemons]

17. Better way to ask this crowd:

If all college loan banks decided to stop giving out college loans?


If all mortgage banks decided to stop offering mortgage loans?


If all car loan banks decided to stop offering car loans?



Now... you've cut it down to only those DUers without a house, a car, and not in school.

[mhatrw]

20. And the ones who buy used cars with cash. n/t

[girl gone mad]

21. ...

1. College would get a lot cheaper.

2. Housing would get a lot cheaper.

3. More people would carpool or ride the bus.