US Money problems

[superchute]

frist thing on the bail out the they say the old ceo's of the bankrupt stuff geting large amouts of sevenece pay that is out you messed up. Your out on your butt no pay and for shere not in the millons of severace pay. The second thing is we need to shop spening money on dumb things like 8 mil on musem in poland and things like that. just some of my thought but im shere there not going to come ask me.

have a great day and hang on to your hats

Russ

[RandyScott]

Greg and Everyone.. my apologies on my calcs... I did use a calculator.. just a little ol' Casio 8 digit and thought I had gotten the decimal thing correct. So, after seeing your post I resorted to pen and paper and you are correct. I fall upon my sword.

[whinewine]

I THINK ALL THE FAT CATS IN OUR GOV. AND WALL STREET SHOULD GO TO JAIL!!!!

Perhaps we should follow the lead of what happens frequently in China to those who severely embarass the government:

arrest them

try them

if convicted, execute them

all within two months. No further appeals. End of a lot (not all, but a lot) of greediness by those with entitlement issues.

[Echo4V]

Well since the big issue seems to be subprime mortgages ( shame on banks and lawyers for coming up with an ARM that they knew would end with them owning houses they had to forclose on AND shame on buyers for agreeing to ARMs that they really couldn't afford thinking they could sell the house and make money before it adjusted) I say let age old system deal with the problem.

Bank forcloses on everything, then they end up bankrupt, house goes up for auction for back taxes. Million dollar houses are now worth 500 bucks. Only issue is that people like me, who bought their house recently end up upside down and no way out. I bought my house about 8 months before the bottom fell out. Unfortunately, I went against my better judgement and let myself be talked into a 10yr loan with a balloon payment. Now that I'm upside down, if I don't find a way to come up with the amount of the balloon payment I'll loose my home too. Don't worry about me, I have that worked out( I can use my VA loan for the balloon payment ) so I didn't go into this blind I was just using me as an example of what thousands of other Americans are going through.

Due to the above example, there are many many Americans who believe in the "bailout" because they are being told by Gov't and banks alike that this will free up money so the bank can make loans. If the banks can make loans again then these people have a light at the end of their tunnel so they desparately want this bill passed.

Personal Opinion, you shouldn't get into something that you can't get out of even in the worst situation. When I bought my house, even though it's not my dream home, I bought a house I could stand to live in the rest of my life, so if I can't sell it eventually then oh well. When I let myself be talked into the balloon payment I made sure I had a back up plan just in case something horrible happened. Well, something horrible happened and I may have to use my back up plan. I also don't see that banks are having that much trouble making loans as my brother in law (who's not even 21) just bought a house, with less than perfect credit and not that great a job. I see people all around me with new cars, etc. I think a lot of what's happening is just what Randy said about politicians practicing the oldest policy in the world (C>Y>A). I do see some benefits of this plan and I see some drawbacks but either way the plan has been so convoluted now that I don't even know what is written into it. I also think if this wasn't an election year, it wouldn't be nearly as big a deal. It would pass relatively unnoticed just like the bailout the gov't did for the airlines, and however many they have done for the auto industry, etc.

David

[celticleather]

I believe that the families of those who are executed in China are sent a bill for the bullet . . . no expense to the state whatever!

[wolvenstien]

I am very very surprised to hear that the general attitude in this thread is to shit can the bail out. Even Hiloboy (whom I do feel for with his IRA as so many others in this country) feels the same way. When I first read the news (what was it, Tuesday... Monday?) I screamed in praise that they shot it down! I really did not think they would have the courage to do so. But I also knew that it would not last. This is Bushys baby. He came onto the TV the night before the vote to tell the American people that it was the right thing to do.... Hes moving his lips, you know he is a lier.

This is all Bushys fault.

Think back to the first real thing he did 8 years ago..... he UN-regulated the banking industry.... The banking industry paid him so much money to get him to do their bidding.... He let them loose like feral dogs in a chicken coop. And there for the first few years everything was roses.... the economy was up and running at full steam....

Then the first symptom that something was wrong was the unemployment numbers going up.... steadily.

Then the banks decided they wanted more faster money to make more loans to make more faster money.... they started to move the ARMs that they invented and were able to implement since Bushy UN-regulated them. At first it was just a slight move and then over time, it was just an out right "bend over Mr and Mrs Smith, we have something for you."

The banking industry figured they could foreclose on the properties, and resell privately or at auction and still make money, and even finance the property again.... keeping the money rolling in.... What the banking industry didnt figure on was the loans they were greedily making money off of for development would come back to kick their asses. They didn't count on there being a major surplus of housing throughout the country driving housing prices down..... killing equity and stopping people from being able to buy a home selling for 120k when the value was only 100K and the banks realized they could not give a 100% loan but only a 80%.... the buyer could not come out of pocket with 40k.....

Then the banking industry slowly realized that because the industry was un-regulated, the loans they were making to each other did not have to be paid back.... Talking about an Oh Shit moment.... huh...?

The current credit squeeze is not being caused by lack of faith in other institutions.... thats what a majority of the 700B is for.... to ease the squeeze and allow the industry to loan within itself again.

Now if you notice, no where within the BailOut does it mention re-regulating the industry.... they bail these screw ball fat rats out now, we will be doing it again in 15 years....

We need to stand up and take our government back from the corporations who have bought it lock stock and barrel and use it to their benefit.... and do not care a shit about us, the people who actually bare society upon our backs.

And as for Welfare.... I have been unemployed for coming up on 3 years.... I have never received an unemployment check, no assistance from the government.... welfare, or anything else.... My wife works, I do what I can in odd jobs here and there but nothing steady. Not once have my children went hungry, and we pay our bills as they come..... sux... but we do it. And we do not borrow from family or friends either.

[Hilly]

Perhaps we should follow the lead of what happens frequently in China to those who severely embarass the government:

arrest them

try them

if convicted, execute them

all within two months. No further appeals. End of a lot (not all, but a lot) of greediness by those with entitlement issues.

Seems the way the government is working these days, we allready live in a socialist country. The people's voices fall on deaf ears, and the government just does as it pleases, no matter what. I have asked a lot of people how they feel about the bailout, and not one single person thought it was a good idea. What does it take for the government to listen?

[Echo4V]

Firstly, I must say that Wolvenstien, it's time to do some fact checking. Bush didn't deregulate the banking industry, no one did. That's why there is still a banking comission ( Representative Dodd heads it ). What was deregulated was oil futures trading ( by congressional vote not executive order) and that's why our gas prices are now getting closer to those of countries on other continents. However, the fact that banking is not deregulated and this shit still happens means things are even worse than you thought. I completely agree that we have gov't employees in Washington who should be in the unemployment line already because of the BS they have pulled on Americans. The problem is we don't have enough Americans pissed off enough to actually get off their couches and go vote. If we did we could take our country back. I heard a statistic that only 35% of Americans voted in the last election ( I'm not positive about that number but it's close) and you can bet most of those who are voting are the ones that work for/own these big businesses that are running our gov't. Now let me ask you if you held an office that was dependant on voter approval would you not do what the voters wanted?

Even though I know it's a mute point at this time I'll restate a fact that I have told many people. It's a fact that George Washington turned down a 3rd term as President because he felt the biggest threat to America was professional politicians. If George Washington worried about professional politicians ruining our country, how can we not? Why then do we keep getting professional politicians as our representatives. Show me politicians who have "real" jobs, which ones work outside of their duties as a politician or have worked as something other than a politician. I think it's time Americans got to work and got some representatives in Washington who are actually representative of America.

[hiloboy]

Now your talking lets have 2 terms or 8 years and your OUT!!!! FOR EVERYONE...hell i think they have some in there that worked for George Washington when he was in office..time to go..and how about some thing that says they must come home and hear what we want.. not only when its time to get reelected....

[superchute]

i hate where the person is in the house or senate and are payed to be there and there off runnig for there next office and we are still paying them for a job that there are not at

Russ