$700B Bailout

[triple]

Had it coming. Robbing Peter to pay Paul comes back to bite you on the a$$. THe US has been enjoying a false economy for too long. Too bad the rest of the world will be paying too.

You have no choice. The bail out is needed. The other option is Depression. Don't need that again (although a bunch of stock brokers jumping out of windows and off bridges can't be all bad).

 

[travydog]

why not take the sallaries of all the higher ups and cut them to 50 thousand which an average american makes and take the rest of there nice golden parashute away and pay the goverment or whoever back. that has to be atleast 500 thousand per bank? Why should they get to keep there nice pentions and all there nice stuff and everyone else have to suffer?

 

[Why Not]

If you needed somebody to tell you that we were headed for disaster your either very naive or an idiot.

We all know that mortgage companies have been lending money to buy homes with zero down for the past 8 years. That’s bad lending practices and has to go bad sooner or later.

We all know financial institutions have been lending money to buy vehicles and amortizing them over 7 years. That’s bad lending practices and has to go bad sooner or later.

We all know that financial institution have been lending money for recreation vehicles and amortizing them for up to 15 years. That’s bad lending practices and has to go bad sooner or later.

I could go on and on, but the point is we all knew what was going on, we can’t point fingers and blame the government or anyone else. If you were not intelligent enough to see the writing on the wall, ignorance does not give you the right to pass blame.

Let’s stop pointing finger and do what we can to figure out how to fix it.

The guys screaming the loudest that they don’t want the government involved in their life are the ones now screaming the loudest wanting to know why the government didn’t tell us we were heading for trouble?????

 

[weetee]

If you needed somebody to tell you that we were headed for disaster your either very naive or an idiot.

We all know that mortgage companies have been lending money to buy homes with zero down for the past 8 years. That’s bad lending practices and has to go bad sooner or later.

We all know financial institutions have been lending money to buy vehicles and amortizing them over 7 years. That’s bad lending practices and has to go bad sooner or later.

We all know that financial institution have been lending money for recreation vehicles and amortizing them for up to 15 years. That’s bad lending practices and has to go bad sooner or later.

I could go on and on, but the point is we all knew what was going on, we can’t point fingers and blame the government or anyone else. If you were not intelligent enough to see the writing on the wall, ignorance does not give you the right to pass blame.

Let’s stop pointing finger and do what we can to figure out how to fix it.

The guys screaming the loudest that they don’t want the government involved in their life are the ones now screaming the loudest wanting to know why the government didn’t tell us we were heading for trouble?????

I'll drink to that. The bailout is not for wall street, it's for us.

We did the same thing in the savings & loan bailout (only a much smaller scale) and It worked. The taxpayers made money in the end. This is our only hope of avoiding a very painfull crash. (FOR EVERYONE) If we do nothing, the crash is a guarantee.
I can say this with confidence because I did stay at a Holiday Inn last night.

 

[team2]

I can say this with confidence because I did stay at a Holiday Inn last night.

Now that is funny

 

[montanasledder]

why dont they just pay off all our mortages. would help us and the banks

 

[trackvs2wheels]

^^^^^^^^^^That right there isn't a half bad idea now is it^^^^^^^^^^^^^^^^

 

[mattymac]

why dont they just pay off all our mortages. would help us and the banks

How about the people who are responsible with their money and didnt SIGN AND AGREE TO PAYBACK SUCH STUPID LOANS????

Whats in it for us??? Nothing, other than getting screwed into paying to get these people outta money trouble!

 

[Good to Go]

Imagine no second chances for anyone....guess you would be really F'd then!

Cold.......

hahahahahahaha......

Silver State Bank goes under....
Andrew McCain (son of John) "quit" 5 weeks earlier....

http://news.muckety.com/2008/09/08/silver-state-bank-fails-john-mccains-son-had-been-director/4881

Give it a break.

He was on the board for 5 months (was brought in AFTER they started to have trouble) and left in July. In August, they thought they had cashed in enough assets to keep the cash flowing. Didn't work. The bank operates in one of the hardest hit regions of housing...and was heavy into housing loans. Go figure.

Facts. That little blurp of a website you posted only printed the convenient stuff..but missed the story.

Good news: the non trading stock rose $.02 today. It's back to a nickel :rolleyes;

 

[winter brew]

Let me get this straight.....the ones who cannot afford to pay the foolish mortgages that they AGREED to pay (or lose their home) are the very same people that the govt is now going to ask for even more $$ in taxes to bail out the banks that these people already can't afford to pay........yea, that makes complete sense!!!

If your kid made some bad choices with credit, would it be wise for a parent to just "bail them out" or would a person be better off in the long run to face the consequences and learn from their mistakes. Is a bail out just enabling them to repeat the mistake in the future??

If a dangerous toy enters the market, or someone gets some contaminated food, our govt agencies are very quick to identify this and correct the problem to protect us. Why was this simply overlooked until it was too late??....I'm guessing it has something to do with our elected officials not wanting to create friction with influential business....they might lose some donations.

This all comes down to GREED. GREED on the part of the politician to not rub big-business the wrong way, GREED on the part of the banks to make money at any expense, GREED on the part of the home buyer to get a bigger home than they can really afford. It's the American way. I say let 'em fail! The strong and ethical will survive and in the end the country will be better off.

 

[mattymac]

Let me get this straight.....the ones who cannot afford to pay the foolish mortgages that they AGREED to pay (or lose their home) are the very same people that the govt is now going to ask for even more $$ in taxes to bail out the banks that these people already can't afford to pay........yea, that makes complete sense!!!

If your kid made some bad choices with credit, would it be wise for a parent to just "bail them out" or would a person be better off in the long run to face the consequences and learn from their mistakes. Is a bail out just enabling them to repeat the mistake in the future??

If a dangerous toy enters the market, or someone gets some contaminated food, our govt agencies are very quick to identify this and correct the problem to protect us. Why was this simply overlooked until it was too late??....I'm guessing it has something to do with our elected officials not wanting to create friction with influential business....they might lose some donations.

This all comes down to GREED. GREED on the part of the politician to not rub big-business the wrong way, GREED on the part of the banks to make money at any expense, GREED on the part of the home buyer to get a bigger home than they can really afford. It's the American way. I say let 'em fail! The strong and ethical will survive and in the end the country will be better off.

well said WB!!!!!!!!!!!!



Because I didnt take out 2 or 3 loans out on my house to go buy toys, or put zero down on a house (or do a second for a down), Or since I dont have any CC debt, all my chit is paid off (other than my house which still has well over 100K in equity and 1 loan aginst it) I do all the things I want throughout the year (within reason and responsibilty) and im gunna get punished for all the irrisponsible people out there?????? WTF!


Im 24 years old and dont make alot of money but I do work hard and im good with my money!!!!!!!!!!

 

[sandrailboy]

when i went to buy my house 2 years ago i was told i could afford a 350k house i went for a 200 k house and put 20% down if i had listned to the finance people i would have been in the same boat as alot of the people loosing there homes ........there is a thing called liveing within your means...

like many i have mixed feelings about the bailout.........
do i think both canidates should go do the job they were elected to do....YES I DO......
they are senitors first ........
if the goverment bails out all these banks and finance companys who is going to be held accountable for there mismanagement ????
i guess we all know the answer to that one .....all of us since we are the ones with the most to loose...........

 

[BottomFeeder m7.]

Obama's defination of change..........

C---contributions
H---help
A---A
N---niger
G---get
E---elected

just saw it on another form had to laugh........


Omg that crap is funny. As for the bail out wtf? Why should we pay it. I saw Fawk it. let it crash. im good with my money.

 

[winter brew]

Screw it, I'm not paying my mortgage anymore, maybe if I'm irresponsibe I can get some help....screw the responsibe people!!
Slippery slope!

 

[SAWYER]

I say fawk the bailout too. I'm good with my money and i work my *** of every day of my life since i was 13 years old. And now, we the common people get to once again bend over and take it in the poop chute.

And if we do go into a depression maybe it will kill off some of these thieving bastards who can't fend for themselves

 

[ouch]

Seems to me that were all going to live in government owned houses, with the few people that own home getting taxed so high they wont believe it. The government has a plan, anyone to neive not to believe it i feel bad for you. They want a group of rich people and everyone else complete broke. Its some tough times.... the govt and most of the people defenitly screwed up

 

[POLZIN]

I say fawk the bailout too. I'm good with my money and i work my *** of every day of my life since i was 13 years old. And now, we the common people get to once again bend over and take it in the poop chute.

And if we do go into a depression maybe it will kill off some of these thieving bastards who can't fend for themselves

X 2 Let it crash and let natural selection sort out the dumb ones! one way or another its coming we should choose the time and place before China and Russia do!

 

[Himark]

Our nation is in a SERIOUS crisis right now. I have NEVER been a gloom and doom guy but this has got me worried. The following is copied from a email from my good friend that got this from his boss that is tight with Senator hagle. Keep in mind this is NOT a fwd joke or some down the line info. I cant disclose the sender but he and his position are well respected by our entire nation.

Hard as it is to believe, the Treasury and the Fed are now telling the Congress – as clearly as they can given the current financial situation – that they can no longer “contain” the financial crisis -- nor be sure they can maintain Americans’ confidence in the U.S. financial system. Given that message, Congress must find a way to respond and reassure the American people or face – literally -- the potential collapse of the U.S. financial system and all that would mean.



Never thought I would write this kind of memo xxxx. Hope I never have to do so again.

 

[milehighassassin]

why dont they just pay off all our mortages. would help us and the banks

Inflation would go through the roof, prices on everything skyrocket.

 

[dmkhnr]

The bailout is a bunch of BS. 700b when they need 4trillion, put it into perspective for some of us; Lets say your 4 months behind on your mortgage and owe the bank $8k plus penalties making it $9k and the nice gov jumps in to help you out, they write you a check for $1450, you just bought another month and you'll be back in the same boat.
I've been waiting and waiting to take advantage of the foreclosure market. But it's not even close yet. All the bailout will do is buy some time (maybe another year+). Meanwhile the dollar will weaken, commodities will go up (GAS, FOOD, HOME UTULITIES). And every one of us will feel more and more pinch.

The economy is already depressed, and in a year it will be (I guess it needs to be declared a depression) And there it is. I'll be buying homes at 20cents on the dollar.