Your generous donations for flood victims will end up paying banks

[SoCalDem]

The aid will soon start flowing into banks, who will then use that money to LEND out.. The local banks have (some of them) given a 90 day "payment vacation" so by then the homeowner who lost their home, job, maybe a few cars they still owe on, will owe 4 months worth of mortgage payments, will be behind more than the 30 days the car loaners have 'given' for their flooded piece of metal....

and whammy..


they must now 'apply" for a loan.. Guess what condition their credit score will be in??


There is NO GUARANTEE that they will even qualify for those loans..

This is the thing that pisses me off so much in a disaster..

people see those tearstained faces, those poor people up to their chins in dirty water, and donate money to THOSE PEOPLE....NOT TO THE BANKS, OR MORTGAGE COMPANIES ..

It truly sickens me to know that the MILLIONS of dollars that have been donated will NEVER reach the ones we wanted it to go to..

A poor family who rented, and has lost everything, could have made a great start at a new life, with some housing vouchers and $5K from the donation pool.. That would surely have been enough to get them away from harm and perhaps replace a few things they lost.. I would rather my donation be spent on sneakers and video games, than to have it go to some wealthy bankers who will just loan it out interest free to their already rich pals:(

[Cleita]

1. This is why I didn't donate money. No one could explain to

me how the money would be used. Our Firemen collected new clothes, so I bought some childrens clothes and donated them. I hope that these will reach those who need them and are not sold in thrift shops.

[The Backlash Cometh]

2. Is this from the Red Cross?

[SoCalDem]

4. The comment came from a "financial analyst" on CNN

claiming that the money will be "needed" by the banks to cover the HUGE LOSSES they will take because of all the defaults..So it appears that the money will be for "bank relief"..and the poor people in whose names the donations were made, will just have to scramble for any crumbs that fall off the pork truck:puke:

[Jamison]

3. I'm glad I donated old clothes & toiletries instead.

I had no money to donate, so I did this and hopefully these things got to some of the victims. I'm gonna be mad if the TP I donated ended up in some bank president's personal bathroom.:mad:

[melissinha]

7. I donated printers

to the Austin city that was carried in the building by my boyfriend, I couldn't contribute $$$ but hopefully the printers were put to good use.


Like it is when giving to the homeless, its better to give tangible goods, they can't be as easily diverted to non-victims.

[SoCalDem]

8. and of course the "official" charities all want CASH!

They can "launder" the cash for anything they want to spend it on..:grr:

[NVMojo]

5. I only sent money to Acorn ...I hate the Red Cross and their scams ...

[PsychoDad]

6. Muslims and Mennonites were among the first

To arrive with aid to the flooded aeras. You don't hear much if anything about them, but then again neither group is known to blow their own horn much.

They could still use some help.

The Mennonite Church
http://www.mennoniteusa.org/

Muslim Hurricane Relief Task Force
http://www.mhrtf.net
This is a coalition of CAIR, ICNA, ISNA, MUNA, MAS, MANA, and more who joined forces in the days after Katrina hit.