Why doesn't our government step in and FREEZE all foreclosures, across the board, in every state and let the little guy regroup?
They have some mickey mouse system setup allegedly, to let those of us who are facing foreclosure, "if we fit the criteria" to sign up for help.
It's a sham! Like our credit bureaus and banks are going to allow that to happen. They want the "bad mortgages off the books"
You know, it's all fine and dandy that our government is helping big corporations, fannie mae etc....What about us?
This latest new conference by Paulson, is a joke! They try to make it look like it's helping us, bullpoop!
Those of us who are getting ready to be thrown out on the streets because of this unscrupulous lending?
We are hearing about how they are helping banks and big organizations to regroup, why can't "we the people" regroup?
How can we regroup when the credit bureau's have slaughtered us? How can we ever escape this vortex?
CEO's are walking away with fat pockets and we are crawling away with barely, the shirt on our backs!
Who is going to be our voice? Who can we go to? You can't reach anyone on a top level, they are impossible to get to.
We are drowning. Where is our life boat?
http://a-voice.blogtownhall.com/ |
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Sorry I love reading Townhall and I'm not a crazy flame thrower... but isn't 500 billion (500E9 = 5E11) divided amongst 300 million Americans (300E6 = 3E8). $1700/per person... How do you figure the $455,000/ household... Must be some very big families:).. I'm not for all these bailouts either, but lets get the math straight... Or at least explain how you came up with that number. Thanks. |
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It's a huge loose-loose mess.
The LAST thing we need is a new President who thinks the economy is sound. |
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Excellent ideas. This is a very serious crisis for our country and yet, the Democrats want to go home and hide from it. They all have some level of responsibility for the crisis occuring and they all must somehow resolve it. Your ideas would be a great start. |
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help the subprime borrowers stay in the homes they cannot now nor ever could afford. He also thinks all Americans should help send their competitors in the labor market to college. He also thinks all Americans should let the government make their health care decisions for them.
Obama, Jr. is a lightweight who cannot be trusted to make adult decisions. |
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the $455,000 reference was to all governmental debt not just the bailout. |
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$36,000. But, this economy is not sinking me. Nor have I seen it sink anyone else. Losing your home because you borrowed more than you can afford is sad. But, it is not the taxpayers' responsibility to ensure overextended borrowers do not have to accept responsibility for their decisions. |
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Your comment was right on point.
I am retired and living on about 2/3's of what you are living on and I still think the economy is OK. I am not suffering financially and all my needs are met.
However, I do live in a small house that I COULD afford and I need no bail out. I live within my means and I pay my bills. It is not fair that honest people that followed the rules should now be called upon to pay for the mistakes of ignorant people.
I suppose that it is too late for people like me to get a "no-down payment, interest only, you don't really have to pay the money back" loan on a $500K home. I always get left out when the "free" stuff is handed out.
Oh well, I'm still a survivor and I sleep nicely knowing that I try to do the right thing. That's why I'm a Conservative Republican and a Christian. And I am very proud of it.
And I will do everything I can to make sure that McCain/Palin wins in November. I have very little but I donated money to the cause and I express my opinions whenever I can. |
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we lower income people sure are bitter, are not we? :) I must be because I love God. I own four guns (High Powered, 22, pistol, 12 gauge). I will never vote for Obama, Jr.
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This fallout on WS would not have happened had Fannie and Freddie not been slimed all over by Clinton in the 90's. The "ninja loans" AKA "liar loans" allowed for those with zero income, zero assests, and zero $ down to obtain one of these loans...now we, the taxpayers, are paying for this huge mess. It sucks, but who else would pay up for this mess? Clinton, Mudd, Johnson, Gaines, NObama? Not a chance in foreclosure h*ll. I know it is hard to imagine, but this country will recover from this...as long as we keep NObmama out of the WH. He would turn this recession into a depression without question. His own policies and voting practices (or lack of them really) prove that time and again. In this time his stedfast solution is to tax the h*ll out of us. You gotta be kiddin' me!
Ex-Pat - another dum dum taking words out of context. The fundamentals of this economy...us the workers..are strong. You actually think that a negative, tax hiking jack a** in office would do this country some good? If you work, are you ready for the tax increase on anything and everything you do in your everyday life? How about someone with zero experience and zero accountability? That is ok with you? Sometimes I have to sit back and wonder what in the h*ll is truly wrong with you people... |
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I'll be the first to admit that I have more debt than I'd like. But I did it to me. And, I don't expect to have Uncle bail me out should I get in deeper. I am barely managing two house payments, one we rent, the other listed for sale and I moved for a job. I have my needs met, I am not getting ahead, but I'm doing it. Does that mean the economy is bad? Nope, it means if you were dumb enough to bite the carrot, you've got nothing and nobody to blame but the self. |
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...who believes the economy is sound enough to support tax hikes....who believes the economy is sound enough support all his terrifying nanny-state promises. |
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What ever happened to common sense and American work ethics?
There are three homes, in foreclosure, I can see as I look out my window. We decidedto never buy as much house as realtors or bankers told us we were qualified for. We have tried to do without the things we could not afford and wait until we could. Sometimes that means we never will get them or go on that trip. We do not live for bigger, better, more.
Today, I found out a family member declared bankruptcy. They lost absolutely nothing. Not the house or cars. Not even the motor home they bought last spring! This couple has been living WAY beyond my means. And the cosequence is they lose nothing? Yet, I look around and see empty houses. This system seems incredibly broken. |
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A very well researched blog. People should read The Truth About The Money Mess by ML Smith at Clicks/Internuts for more on this, but for some inexplicablen reason, Town Hall does not list it anywhere. It seems that a lot of important stuff is going unnoticed as a result of incomplete listings.
Mort |
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This feels like splitting 8's against a 8 in blackjack.
By the book it may be the right play, but there are no guarantees that we're going to win, and we could lose double. Beyond even that, what really worries me is the precendents this could set. Seems like a lot of people are using this as an indictment of the free market system, when government tampering really is the root cause. Doesn't seem many are willing to acknowledge this.
What really needs to happen is for leadership to hammer home the bad decisions government made in an overheated housing market. But both parties were involved in that, so it's not something anyone in politics particularly wants to get into with any detail. Because of that I think McCain's suggestion for a commision makes a lot of sense, even though Obama chided him for it.
The AIG deal could work to our benefit. Fannie/Freddie are completely rotten to the core, however. That is what is going to be most difficult for the American taxpayer to wiggle away from, and I worry most that this will be seen as a licsense for more tampering from our politicians. |
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Conservative Socialist Fascism. That's what the US has become. You can bet Bush and his cronies will ride off into the sunset with saddlebags full of your hard earned tax money. And now McCain wants to continue the same failure. Not this time " My Friend ". |
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Well, if we want to be accurate, let it be known that the tax payer is currently on the hook for over a trillon $ and that does not include the mother of all bailouts like the one discussed today. Want a break down? Let me know.
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Come on, if we can just get gummint out of the way, the FREE MARKET will take care of things. That's what Michele the Economics Expert tells me. Let the market work. Let Michele lead the way--this deregulation stuff has worked out great so far hasn't it? |
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I've been thinking the same thing all day. If we're going to throw money at this problem why not put it in the hands of the very people whose consumption of goods and services is the engine of the economy?
I mean heck, any pretense that we're still a capitalist free market economy got thrown out the window this week when we nationalized the mortgage industry. |
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I'm also doing fine thank you and my income is less that $45,000. As I see it there are two problem areas in our economy. The first is the oil problem. But if you really analyze the problem you will come to the conclusion it was created by congress. The recent sham vote upholds that belief.
Second, we have the housing problem which is the concern at the moment. This also was created by a congress that tries to make everyone buy homes whether they can afford it or not. As a retired Realtor I can tell you this problem was developing years ago.
You could also blame Realtors on this problem. Real Estate is the only business I know where people start out with 'what is the MAXIMUM home price I can afford?'. Then the Realtor starts looking for available houses slightly above that price so they can allow for negotiations insuring that the client does in fact get as much house as he can possibly qualify for. Now enter the subprime mortgage market and you have a recipe for disaster - like where we are now.
Yes, the basic economy is sound and I will vote McCain/Palin. Their opponents have no experience doing anything but talk. |
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Whatever your opinion of the Bush tax cuts, it is indisputable that they made our tax base more progressive: the rich and very rich now pay a higher percentage of the total tax take than they did before Bush took office. That has dire implications for the budget for the next few years.
Especially in recent years, the income of the wealthy has become more volatile than the income of the middle class and below. In good years, their earnings soar, and Uncle Sam reaps more revenue than expected. In bad years--particularly bad years on Wall Street, since most of that money comes in the form of some sort of security, rather than cash--tax revenues nosedive. Incidentally, the more we focus on taxing the rich, the worse this problem will get.
http://meganmcardle.theatlantic.com/archives/2008/09/watch_ the_budget.php |
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You want the answers watch the Palin interview with Sean Hannity tonight at 8pm on Fox News, |
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And they're out of the closet--at least many of them.
http://www.dumpbachmann.blogspot.com
has the 411 on Michele.
As for Bachmann's energy "expertise," the closest she came to energy expertise prior to about three months ago was filling up her car with gas. And that was only because her idiotic Save the Light Bulb Campaign went nowhere. The energy crap she's been spewing on the talk shows nonstop is just that--crap--and easily refuted if you know how to use The Google, as McCain says. |
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Rolling the dice? Here's another term you should be familiar with Michelle, FASCISM. Pure and simple. |
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Fascism - "a governmental system led by a dictator having complete power, forcibly suppressing opposition and criticism, regimenting all industry, commerce, etc., and emphasizing an aggressive nationalism and often racism." This to me sounds like NObama to a tee...actually it sounds like the whole d*mn Democratic party. I have two more words for you...Socialism and Communism. NObama wants complete power. He wants to control every aspect of the government so that it in turn can control you. This gives him total control over each American...all of this equals Fascism, Communism, and Socialism. When did it become the repsonsibility of the US government to give hand outs to every single American? What about the American Dream? I have one quote for you "my friend". "I grew up a Republican not because I was rich, but because I didn't want to grow up poor waiting on the government to give me a handout" Mike Huckabee. I refuse to allow the gov't to control me, but hey, if you like that kind of thing...I hear N. Korea is a wonderful place to live. |
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Geez...enough with the drama. I can tell you have no idea what living under a ACTUAL fascist regime means...read up on your history, buddy -you might learn something. Try looking up histories of Latin America, Spain, Italy...
I also bet you're the type who wears Che Guevara T-shirts without actually knowing what the dolt stood for.
NObama/Biden '08: KEEP THE CHANGE! |
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Look, I don't believe tax payers, are asking fellow tax payers to bail out those facing foreclosure's/bankruptcy's
But, if the Government (uncle sam, whomever)
is putting the ball in our court, "let us play!"
Untie our hands. Throw in the life preserver and let us come up for air. "Freezing Foreclosures" for let's say, one year, gives the tax payer, a chance to get it together, regroup, to breathe.
This economic crisis is overwhelming to our entire country.
Let those who are about to be thrown out of their homes, "regroup". Let us save ourselves.
I know this goes to another topic, but it is also part of the problem and bitter disdain toward our irresponsible legislators;
More is being done to help and protect, illegal aliens/invaders, (and there are millions of them), for financial assistance, to feed, clothe, house, medically treat, not to mention, credit cards, than for hard working, tax paying citizens, who most, had extenuating circumstances, ie; medical crisis, one parent families with unforeseen calamities, etc.
A miscarriage of justice, is that the very banks and unscrupulous lenders, whom in many cases, produced an avalanche effect, are being bailed out, walking away with nice pensions, living in nice mansions, aren't worried about where there next meal will come from, etc.
It's a two edged sword. |
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In 1999 President Clinton signed into law,
that comm banks can sell their loans on wall street,
so when fannie and freddie were giving out loans,
like candy,
they didnt care if the loans will be payed back, because they were going to be sold on the world wide market anyways,
after the great depression,
the laws was changed,
so we would not have a finanial melt down,
like back then, and maybe like today,
this has not happened since the great depression,
if the law was not changed by Presidebt Clinton, something like this would not have happened,
so whos to blame? you got it,
the Democrats,
and they try to point the finger at President Bush or McCain,
I dont think so,
I dont want to hear McCain is more of the same, No,
Obama is more of the same,
the American people are not stupid. |
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In 1999 President Clinton signed into law,
that comm banks can sell their loans on wall street,
so when fannie and freddie were giving out loans,
like candy,
they didnt care if the loans will be payed back,
because they were going to be sold on the world wide market anyways,
after the great depression,
the law was changed,
so we would not have a financial melt down,
like back then,
and maybe like today,
this has not happened since,
the great depression,
if the law was not changed by Presidebt Clinton, something like this would not have happened,
so whos to blame,
you got it,
the Democrats,
and they try to point the finger at President Bush or McCain,
I dont think so,
I dont want to hear,
that McCain is more of the same,
No,
Obama is more of the same,
the American people are not stupid. |
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In 1999 President Clinton signed into law,
that comm banks can sell their loans on wall street,
so when fannie and freddie were giving out loans,
like candy,
they didnt care if the loans will be payed back,
because they were going to be sold on the world wide market anyways,
after the great depression,
the law was changed,
so we would not have a financial melt down,
like back then,
and maybe like today,
this has not happened since,
the great depression,
if the law was not changed by President Clinton, something like this,
would not have happened,
so whos to blame,
you got it,
the Democrats,
and they try to point the finger at President Bush or McCain,
I dont think so,
I dont want to hear,
that McCain is more of the same,
No,
Obama is more of the same,
the American people are not stupid. |
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It's currently ~$9.7 trillion. Yes, that's before the latest proposed bailouts of >$700 billion.
It also doesn't include the debt kept off the books. We have approximately $54 trillion of entitlement obligations.
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That's what this bailout is. Why should those of us who are living in our means have to pay for those who borrowed more than they could pay back or those to chose to lend to them. The market always has to correct itself. did they really thinkthey could keep betting on things going up forever? we should be betting on our own hard work instead. I agree with those others who said the economy isn't breaking me. Sure the price of fuel has made things tight this year, so I got another part time job to make ends meet. |
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Shady Corperate Cronyism at its worst, is now on display. Like a twitching Junkie these corperate crack whores hold out there hand to the taxpayor.
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is in Green Bay lying through his teeth about this. And of course blaming Pres. Bush and McCain, but not him when he was the second highest recipient of Fannie/Freddy cash afte Chris Dodd.
Rush is right, he's calling for the resignations of these political hacks chairing these committees, Dodd and Barney Frank. I hope he
keeps pounding this home to people, this debacle was created and is owned by the DemonRAT party.
I am so sick and tired of getting hammered with taxes, when are these political hacks on both sides of the aisle going to get rid of our current system? Silly me, Never because it keeps them in power, they use the tyranny of the IRS to control us so they'd never ever consider
getting rid of this system. |
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They are all protecting either someone or someones who have either made a ton of money or lost a ton. Just a little longer till us idiots are to drunk or to stoned or to caught up in sex football or God knows what else. Cover it now because we will not care about it later. And the sad thing is they are right. However stupid these people we elect are the truth is they are at least slightlysmarter than us. WE ARE THEIR BOSSES WE AREWE ARE THEIR BOSSES THEIR BOSSES WE ARE THEIR BOSSES WE ARE THEIR BOSSES WE ARE THEIR BOSSES |
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The problem is that bankers are a bunch of amoral wimps. They are told by the Government to make loans to shaky low income people for political reasons, and they do it. So, now their excuse is, "I was only following orders."
Where did we hear that excuse before?
Now, the crazy logic is: because the results of the crazy loan policy are catastrophic, it is OK to make it all better with innocent people's money: Yours and mine. This reasoning is insanity on top of insanity. I say that the people who caused this tragedy must go to jail for 20 years. We must start over from square one, and stop this insane theory that money is not earned, and that everyone deserves what other people have earned. |
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Why merely ask for more transparency from the Federal Reserve in their dealings with this bailout--which, by the way, they caused with their easy-money policies.
Why not support a full audit of the Federal Reserve? Shouldn't the people know more about an institution that can put them on the hook for billions without a blink, but is more secretive than the CIA? I challenge any congressman or woman to call for a full audit of the Federal Reserve.
I'll be waiting forever of course. The only person to call for an audit of the Fed has been Ron Paul, and look what the GOP did to him
Ron Paul did everything short of giving the precise hour of the collapse for the past year and Washinton, Wallstreet, the Media, and probably you reading this ignored him.
I'm sure everyone will continue to ignore him. In fact, I'm literally putting my money on it. |
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George Bush is attempting to make the largest transfer of wealth in the history of civilization from the American taxpayer to his friends in the banking industry.
He wants no oversight, no restriction of CEO salaries and wants to give one man (the fox who is in charge of the henhouse) control over 3/4 of a trillion of our dollars.
I think its hysterical watching all of his cheerleaders trying to run from him like he has the plague. Sorry Michelle, you and your cohorts in the House and Senate hitched your wagon to this albatross. Unfortunately for this country, 54 million Americans drank the Kool Aid and now we will have to pay dearly for this.
I am thankful that I do not live in your district and have to deal with you as my representative. |
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