The Bailout: $700 Billion of MY money?

[10thcb7]

i need to hurry up get married and buy a house in hollywood to capitalize on this awsome opportunity

[Fake Thug]

Being honest I didn't read every post fully in here and I"m not completely familiar with the details of the actual bill but I can almost guarantee that the money isn't going to just be handed out with no strings attached and no consequences. Although the Gov does fuck up from time to time I don't think that 'bailing out' these companies is going to have a dramatic negative affect on our daily lives.

One of the problems here is that the gorvernment is handing out money that they do not have. It is very naive to think that we will not be affected. Someone is going to pay for this and it wont be the gorvernment. Its possible those deadbeat corps. will bounce back and pay down their debt and then some. However there is the very real risk that they will not be able to.

Not really my point though, I agree with your first paragraphs. The consumers get shitted on everytime. The bitching about the deadbeats who cannot pay their mortage is what gets under my skin because lord knows it is only bullshit when individuals make these kinds of mistakes.

You should have read between the lines they say Orly? what about the lenders that know exactly what is they are doing, this being their arena, knowing first hand the risk and how catastropic it can be to take such a risk?

They were betting on exactly what is happening now. They knew they could fall back on taxpayers. They were in it to make as much money as they could ,as quickly as they could while the sub prime window remained open and when the bubble bursts take the easy way out. That is criminal.

[Fake Thug]

i need to hurry up get married and buy a house in hollywood to capitalize on this awsome opportunity

why do you have to get married?

[Bandoni]

why do you have to get married?

+1 i am buying my first house and I am single (getting married though in month) but i did it on my own with out having to put my fiancee on the loan. my house payment is right around what my current rent is ( about 50 bucks a month more) and my mortgage is at a fixed rate, with no penalties for paying it off early, which i plan to do. just have to buy in your means. If that means buying a home that's maybe a bit smaller or a bit cheaper then so be it.

[ChIoVnIdCa]

I'm just curious how many people here complaining about this Bill Own a home?
Its easy to sit back and scream at the government and say that the people who are in ARM are idiots but thats not always the case. What about the loan officer who sold that loan, what if he was just looking ot make a quick buck. You mean to tell me that they are not at fault. Before you sign a loan mortgage companies are suppose to know every bit of debt you have and what all of your savings are. The common consumer can't be expected to know everything about the industry so they rely on someone who is expected to be an 'expert'

And if you really think about it.. how is this bill any different than our welfare system. Every year billions are spent so that people (some deserving some not) can survive. Should we say to them...sorry you bought bread you couldn't afford to fucking bad.

Being honest I didn't read every post fully in here and I"m not completely familiar with the details of the actual bill but I can almost guarantee that the money isn't going to just be handed out with no strings attached and no consequences. Although the Gov does fuck up from time to time I don't think that 'bailing out' these companies is going to have a dramatic negative affect on our daily lives.

I do and am not even close to foreclosure. The people who got these bad loans should of never even had them. They should lose there homes if they cant afford them and the banks should take the hit. If they fail they fail. Its something like 3% of mortgages are in bad standing. The bailout equals something like $2300 a person. Not $2300 a taxpayer but every person in America. Everyone cant be a homeowner. And I don't want to pay for my house and the houses that people took on even though they couldn't afford them. (don't quote my numbers went from memory and to lazy to research) This money is going to be given out with very little oversight. The person "in charge" of the committee received the most money from the companies in the last couple years. If you force something through quickly and say it needs to happen now people may not think it through.. Remember last time something was needed to happen quick.

[92vig]

I'm moving to Canada...that's all I have to say. Until the NAU comes into play and then I'm getting the fuck out. No joke either.

When shit hits the fan, expect to pay 5 bucks for a loaf of bread. No joke. Inflation, inflation, inflation. That new penny that's coming out in 2009...forget it. They won't make it, they're going to start making $20,000 bills again...just as the old days. That $20,000 won't buy you a new car...it'll buy you that tank of gas you need desperately to make your money. Watch it happen.

[ChIoVnIdCa]

I'm moving to Canada...that's all I have to say. Until the NAU comes into play and then I'm getting the fuck out. No joke either.

When shit hits the fan, expect to pay 5 bucks for a loaf of bread. No joke. Inflation, inflation, inflation. That new penny that's coming out in 2009...forget it. They won't make it, they're going to start making $20,000 bills again...just as the old days. That $20,000 won't buy you a new car...it'll buy you that tank of gas you need desperately to make your money. Watch it happen.

Moving to Canada wont help. But please do leave.

[92vig]

Moving to Canada wont help. But please do leave.

At least I'd be further away from your sorry ass.

[ChIoVnIdCa]

At least I'd be further away from your sorry ass.

You'd most likely be closer

[92vig]

You'd most likely be closer

Damn....guess you're gonna have to die and go to hell then. That's the only way to get away.

[The G-Man]

Have fun trying to get a job in Canada.

[92vig]

They took our jobs!

You probably won't get it unless you watch South Park

[gloryaccordy]

Not to be offensive, but most people who are against the bailout don't know what exactly the money is being used for, or what the fallout will be if nothing is done.

This 700 billion isn't going into the pockets of greedy CEOs. The 5 major investment banks are basically gone forever, so really a lot of people are out of work, not making money. The 700 billion, from what I understand, is to cover the losses within the stock market and on various investments tied to the real estate fiasco to maintain liquidity & confidence in the global financial system.

What?

Pension funds, 401Ks, annuities, basically any kind of investment out there is tied to the stock market and these investment banks. If 700 billion dollars were just to disappear, people would lose confidence in the system and begin to pull money out, which would further worsen the problem. So that money is being put in to cover the losses, by buying the messed up investments for cheap...

Again it's not just free cash; it's a loan. The gov't is essentially issuing a 700 billion dollar loan that they will definitely collect interest on, and hopefully use to pay down the national deficit and give back to the American people.

It's really not as simple as you think. Trust me, the CEOs, managers, brokers and bankers responsible for this whole mess are definitely struggling. They have lost all credibility, and without that you have nothing in the financial world. This LOAN is being used to keep the system from complete catastrophic collapse. People shouldn't be crying about it, it's not like any of it was money they would ever see anyway. Just pray that it works.

[92vig]

Things like this are pointless....well I mean the arguments about it. That's why I usually keep my mouth shut on political and financial discussions...because they turn to arguments. I've been watching CNBC all day for the past 3 days, watching the debate on the hill....lot of interesting points raised by the senators and congressman. Don't know why they're drawing the debate out for so long because you know they're going to pass it.

[texasvtak]

I'm moving to Canada...that's all I have to say. Until the NAU comes into play and then I'm getting the fuck out. No joke either.

When shit hits the fan, expect to pay 5 bucks for a loaf of bread. No joke. Inflation, inflation, inflation. That new penny that's coming out in 2009...forget it. They won't make it, they're going to start making $20,000 bills again...just as the old days. That $20,000 won't buy you a new car...it'll buy you that tank of gas you need desperately to make your money. Watch it happen.

Yeah, when one house blows up, next door is the place to be.................... You act as if Canadas economy isnt intricately tied up with our own. Or anyone elses for that matter. Its a global economy now, lots of individual parts, some large, some small, but its all part of a whole and when one part fails, the rest are affected. Moving would only mean things here would affect you less immediately.

You sure do like predictions, too.