We are being sold a bill of goods that will only benefit some banks and Wall Street.  To be perfectly honest with you, my clients and everyone I know is against this bill.  Our leaders in Washington actually listened because the American Public threatened to hold them accountable by voting them out of office.  We will have to wait until Thursday for a vote by the Senate.

Secretary Paulson, who I am sure has been working very hard lately, is naive if he thinks that a bailout of Wall Street will save Main Street.  But that is the message that is being touted now by all of the talking heads on the news shows.  Secretary Paulson refuses to start where the problem is, people are losing their homes on a daily basis all over this Country.  I cannot believe that our leaders do not understand our  financial system.  In other words, let the market take care of itself.  If you want taxpayer money, you need to help the taxpayer save their homes.

Secretary Paulson’s speech was laced with disappointment.  I think our elected officials need to go back to work, speak with some of the best economists in the nation and figure out a way to make this bill work.  In my opinion, they need to reinsert the bankruptcy provisions and allow the modifications of first mortgages in the Bankruptcy Court.  But, what do I know, I only deal with people who are involved with these issues daily.  Maybe if I moved to Wahsington D.C. and shoved my head as far up my butt as it would go, it would make more sense to me.

Other online humorists have looked at the issue of animals receiving credit cards, such as www.creditbloggers.com, in a recent article found here. Harmless prank?

And then there are the children: A six year old in Illinois was sent a credit card. The mother sent in the application to “test the system.” Harmless Prank?

And then there are the adults who find out that others “tested the system” and abused their credit while still a minor as described by Wired: Parents Abuse Kids’ Good Credit. Harmless Prank?

This blog article began as a look at “how silly are these debt collectors…trying to collect from a DOG…” but really, after conducting research on this issue–credit cards/credit accounts being opened with “prank” information, isn’t “prank” information actually fraudulent information? Isn’t “testing” the system by inputting anyone else’s name, especially a child’s, actually providing fraudulent information to obtain credit? And I doubt seriously that the victims in the Wired report believe that the users of their good names/credit were “testing” the system or indulging in a harmless prank.

The consequences of the acts of their parents have ruined the opportunities for their children to buy a house/car/major purchase without stress.

The fact is that the credit industry has become so large that computerized databases were created to deal with huge numbers of credit applicants. Dependence on the application’s truthfulness is a requirement. The Verizon account, the credit card issued to a 6 year old, the 25 year old woman’s inability to purchase a house, — all the result of someone’s abuse of the system.

I personally believe that our country is in for a long hard stretch. Although it may not be as tough as the last depression , I definitely think that many habits, attitudes and views will be changing in proportion to the increase in the cost of living.

I consistently see that many people today take too many things for granted. We have become a nation of greed and instant gratification which has fed the great credit monster and now may lead to our economic demise, albeit it may be temporary.

As more people are being laid off the greater the job pool market will be. This means that employers will have more people to choose from when hiring and this may actually encourage employers to get rid of dead weight.

So let’s pose a hypothetical situation. If you had to hire someone for your business, would you rather hire someone who: A) shows up to work on time, does their job each and every day, looks for ways to assist their employer and is grateful for the opportunity to work; or B) shows up to work with attitude of entitlement, texts on their phone all day, instant messages on Myspace or Facebook and does not have any idea that work starts at the same time everyday?

Some of you are laughing but those of you who are employers probably are not. Scenario B is the current mindset of many workers at the moment and these employees think that employers will not terminate for such “normal” behavior. My hope is that this entire country receives a wake up call. We have gone from a strong, educated and independent nation to a credit addicted, naive, self centered cog in the wheel of the credit industry.

It is time to take our country back from the clutches and control of the credit industry. It is time to gain power through knowledge to regain control of our lives. Finally, it is time to take pride in ourselves, our country and our families. I do not know about you but what I want in my wallet is NOT the blue holographic plastic. I want good old fashion all American greenbacks earned by hard work and perseverance.

If you are lucky enough to have a job at the moment, don’t take it for granted. Be strong, be prepared and forewarned so that you may survive the tough times ahead.

Written by Rachel Lynn Foley.

If you are in debt and struggling, you might want to speak to an experienced consumer bankruptcy attorney to see if anything can be done to help you eliminate, reduce or reorganize your debts so that you can meet your monthly obligations. Many families are finding that they are not in a position to repay debts since the money that had been used to pay down debt is now going to cover rising gas and food prices.

If there is no money to pay towards your debts then Chapter 7 bankruptcy may be a good option. For others, Chapter 13 bankruptcy or a debt management plan may help reorganize debts into an affordable repayment plan. Any good bankruptcy lawyer will be able to review ALL your options so you can compare bankruptcy and non-bankruptcy options.

Everyone is wincing when they fill up their tanks, but here are a few painless money saving tips that anyone can do that can help you use less gas and may help you stay out of debt:

DRIVE SLOWER: I have read studies that show that you have a loss of fuel economy of up to 10% if you drive 65 mph, and up to 17% if you drive 70 mph instead of 55 mph. Remember when President Carter lowered the speed limits to help conserve gas? It works, but I appreciate being allowed the choice to drive slower rather than being forced to by the government. In a typical commute slowing down usually means that the addition of only a few minutes but can add up to substantial savings at the pump. Even on longer trips, a later arrival time isn’t a big trade off for higher gas mileage.

ACCELERATE SLOWLY AND DRIVE A STEADY SPEED: In city traffic, you will find that if you accelerate slowly and drive the speed limit, you will not only save gas you may catch up with the cars speeding around you at every light. This is easier on the highways since you can use your cruise control and you don’t have stop and go traffic.

AVOID CONGESTION: Idle time is wasted gas. Try to drive to and from work at times when traffic isn’t at it’s heaviest. Many employers are allowing flex schedules to allow employees to come in earlier/later than the traditional 9-5 workday. Not only will you use less gas, you may find that leaving earlier or later can significantly shorten the time you spend in your car, and in aggravating traffic snarls.

REDUCE THE FREQUENCY OF SHORT TRIPS AND PLAN AHEAD: You will get better gas mileage from a properly warmed up engine. Experts suggest combining errands, and driving to the furtherest point first to give your car a chance to warm up. Stop at your other destinations along the way home. This common sense approach involves asking yourself if you need to do something right away, or can you wait to combine the trip with another errand.

REDUCE THE USE OF A/C: Air conditioning run at maximum setting reduces fuel economy.

REGULARLY SERVICE YOUR VEHICLE: Proper servicing of the engine and tires have big impacts on your gasoline usage. Low tire pressure increases fuel usage so make sure that you check your tires regularly to make sure they are properly inflated. Change your oil regularly and ask your mechanic to be sure to use a good quality oil and to check to be sure that the correct type of oil is being used.

By Susanne Robicsek, NC Bankruptcy Lawyer

For more information about gas saving tips read: INCREASING GAS ECONOMY