"Christmas is a time when kids tell Santa what they want and adults pay for it. Deficits are when adults tell the government what they want and their kids pay for it."
Richard Lamm (b. 1935), American politician and accountant.
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Sunday, 27 December 2009
Quote of the week No. 33 : paying for it
"Christmas is a time when kids tell Santa what they want and adults pay for it. Deficits are when adults tell the government what they want and their kids pay for it."
Richard Lamm (b. 1935), American politician and accountant.
Richard Lamm (b. 1935), American politician and accountant.
2 comments:
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LadyFi said...
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Very witty!
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Sunday, 27 December, 2009
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Woodman said...
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Richard Lamb sure had things weighed up. Those idiot bankers have much to answer for. Our children and grand children will be paying for their greed over their lifetimes. I recall my first mortgage application with a building society. "Come up stairs young man, oh you need a mortgage, how much is the house ? £2,150, we can lend you £1,400 based on your payslips, you will have to find the rest, and no, we can't take your wife's income into account, she may become pregnant and then stop working. Our rules are set to keep your finances in order, we won't lend you more than you can afford to pay back. Your monthly repayments must not exceed ONE weeks pay."
So you see that those mortgage rules, applied in the 60's, were the most sensible, and resulted in stable finances in my case. -
Tuesday, 29 December, 2009
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2 comments:
Very witty!
Richard Lamb sure had things weighed up. Those idiot bankers have much to answer for. Our children and grand children will be paying for their greed over their lifetimes. I recall my first mortgage application with a building society. "Come up stairs young man, oh you need a mortgage, how much is the house ? £2,150, we can lend you £1,400 based on your payslips, you will have to find the rest, and no, we can't take your wife's income into account, she may become pregnant and then stop working. Our rules are set to keep your finances in order, we won't lend you more than you can afford to pay back. Your monthly repayments must not exceed ONE weeks pay."
So you see that those mortgage rules, applied in the 60's, were the most sensible, and resulted in stable finances in my case.
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