Getting loans.. (WAY off topic)

[Todd....!!]

I hear that William,

And you are correct as far as the way it works where the money borrowed
is collateralized by CASH in their bank!

Will let ya know if it works out good or bad or null...

LATER!

Todd....

--------

William T Wilson wrote:
> 
> On Fri, 28 May 1999, David A. Cooley wrote:
> 
> > >So, what's Check Kiting?
> >
> > That's where you write a check, buy something get cash back, deposit the
> > cash in the bank, write another check etc... basically trying to write
> > checks and deposit the money to stay ahead of all the checks because there
> 
> The difference is that with check kiting, if they catch you, you will end
> up without enough money to cover it all.
> 
> In this little credit-building scheme, even if you stop making payments
> altogether, nobody is out any money because you put the money up in the
> first place.
> 
> > of the loan and puts you in default.  the money has to stay there
> > until the loan is paid off.
> 
> It does, because you are using the money you borrowed from bank A as the
> collateral for bank B.  No particular dollar actually gets used twice.