Panama Central America looks better every day ?

 

I think it's BS that us taxpayers have to bail out the gazillionaire fat cats that have taken advantage of the system for years.
Why not make these guys return most of the millions that they were paid for doing a lousy irresponsible job, then ask the rest of us to prop them up.
Only in america can a fatcat politico make 22M a year running a federal program into the red knowingly and willingly while raping the coffers for his own gain.

Beyond that, it is embarrasing to me that the politicians won't pass a bill to try and save this mess without attaching a bunch of pork to it for themselves. They're scared to death that some money will change hands that they can't give to their constituents and buy themselves some more votes.

Christopher Dodd and that other dem terd should be strung up along with the other politicos.


Wish the rant made me feel better, but it just pisses me off more!

 

You can't fix stupid.
Can you imagine the outcry if the Gov, stepped in and changed the regulations before this happened? Changing the rules so only people with good credit could get a lone....it's un-American.

 

One word....


Socialism :devious: :angry1: gre:

 

Just pi$$es me off that I work my A$s off when I was young and paid my home off...
Should have F'd off and let someone else worry about it...

It ain't right

 

Its looking More and More like they have to make some adjustments before they write any checks.. I dont think its a good Idea to spend the $$

 

I don't think much of it...

If we're going to spent 700 billion, I'd prefer to see the gov't buy stock in the financial institutions to address the liquidity issue rather than us buy worthless assets at inflated values that the government will wind up writing off and the tax payers will shoulder the burden without any personal tax write-offs.

the plan is idiotic in my humble opinion and I'm against it.

at least if we invested in the banks, we'd have an opportunity to benefit from rising stock prices when they recover - and they will recover.

ok, i'll step down off my platform now...

 

Freddie and Melba Mae were bad enuff..

This is Bull crap!

 

I'm not too enthused about the whole thing either, but I think it beats the alternative.
I also think it will end up being good for the country as a whole.

 

You can't fix stupid.
Can you imagine the outcry if the Gov, stepped in and changed the regulations before this happened? Changing the rules so only people with good credit could get a lone....it's un-American.

Gee, what a concept, only extend credit to credit worthy applicants! :

Maybe if that had been the practice we wouldn't have to bail out the dirt bags who defaulted on their loans!

Remember guys, in the end, this is all about bad loans sinking the boat!

When I bought my first house in 1972, you couldn't get a mortgage unless you had 20% down, along with strong credit and enough income to pay your bills!

Who ever heard of buying a house with zero down, then roll in the settlement costs on top of that and buy yourself a new car with some cash out at settlement! Oh yea, don't worry about proof of income, just give us a number that you think you're making! :drnk

And that ask me why I drink!

Idiots, all of them! :sb:

 

I don't think much of it...

If we're going to spent 700 billion, I'd prefer to see the gov't buy stock in the financial institutions to address the liquidity issue rather than us buy worthless assets at inflated values that the government will wind up writing off and the tax payers will shoulder the burden without any personal tax write-offs.

the plan is idiotic in my humble opinion and I'm against it.

at least if we invested in the banks, we'd have an opportunity to benefit from rising stock prices when they recover - and they will recover.

ok, i'll step down off my platform now...

i like the way you think and do not pay exec. to step down fire them. i can not believe they paid the exec of fannnie and freddy mac to step down

 

Have no fear, McCain has suspended his campaign so he can go back to Washington to lend a hand.

What a joke, I hope his numbers drop even MORE after this stunt.

 

When I bought my first house in 1972, you couldn't get a mortgage unless you had 20% down, along with strong credit and enough income to pay your bills!

Nail on the head. I've been saying this for months now.

Thanks again Bush, with the "everyone should have the chance to be a homeowner" BS.

Really? Don't we ALL know some people who just shouldn't be homeowners? I know I do!

I really think they should let this thing rock the word, this "bail out" is going to make a 1-2 year problem into a 10-15 year problem.

 

PJ, I appreciate your opinion, but you need to re-thnk the facts.

Fact is, this mess started during the Clinton years, when he and the dems de-regulated these investment banking companies, allowing them to sell almost any paper to other companies, no matter whether it was a sound debtor, or the guy was a flake.

Fact is, it is the democratically controlled congress that even today, wants to earmark a bunch of money to these losers that took out loans that they knew they couldn't pay for. Just another example of liberals bribing the populace for votes. They've been doing it in various ways for decades.

Although I would NOT vote for Bush again, this mess is no more his fault than Pearl Harbor was Hawaii's fault.

 

Subject: FW: Refugee

A beautiful fairy appeared one day to a destitute refugee claimant outside a Maryland immigration office.
'My good man,' the fairy said, 'I've been told to grant you three wishes, since you just arrived in the United
States with your wife and three children.'

The man told the fairy. 'Well, where I come from we don't have good teeth, so I want new teeth, maybe a
lot of gold in them. 'The fairy looked at the man's almost toothless grin and -- PING! -- he had a brand
new shining set of gold teeth in his mouth!

'What else?' asked the fairy, 'two more to go.'

The refugee claimant now got bolder. 'I need a big house with a three car garage in Annapolis on the
water with eight bedrooms for my family and the rest of my refugee relatives who still live in my country.
I want to bring them all over here.

'PING! - In the distance there could be seen a beautiful mansion with a three car garage, a long driveway,
a walkout patio with a BBQ in an upscale neighborhood over looking the bay.

'One more wish', said the fairy, waving her wand.

'Yes, one more wish. I want to be like an American with American clothes instead of manjams, and a
baseball cap instead of this turban. And I want to have white skin like Americans'.

' PING! - The man was transformed, wearing worn out jeans, a Baltimore Orioles T-shirt and a baseball cap.
He had his bad teeth back and the mansion had disappeared from the horizon.

'What happened to my new teeth?' he wailed. 'Where is my new house?'

THIS IS GOOD . . . .

The fairy said 'Tough ****, Mac, Now that you are a White American, you have to fend for yourself.'
And she disappeared!

 

all valid points...

I loved Ronald Reagan, but he's the one who coined the phrase "Big Government is not the solution, it's the problem".

RR my favorite president actually started the whole deregulation thing.

 

Well, I respect YOUR opinion also, but if I recall correctly, who was it again that made a speech on July 15th (yes, 2 months ago) claiming that our economy was "basically sound."

Call me a skeptic, but I'm a little uneasy about rushing into letting the people who got us INTO this mess promise to get us OUT!

Last Monday McCain was still holding firm with how great de-regulation is, now due to their LACK of banking regulations we need him to rush in a save the day?

 

BTW, I'm not saying it's all Bush's fault, but lets be realist too, he IS behind the wheel.

Total Lame duck now, can't wait to hear how much BS he feeds us in a few minutes with this speech. Most people are expecting him to try to strike fear into all of us, push congress into hammering out a bill so they can get to vacation on time.

Took me 2 months to decided and finally rate lock on a cash out refi recently, they are going to decide how to handle 700 BILLION in a week and a half?

Whoa.

 

we could also blame Greenspan since he was the one who did not want to regulate sub-prime lending....

 

BTW, I'm not saying it's all Bush's fault, but lets be realist too, he IS behind the wheel.

Total Lame duck now, can't wait to hear how much BS he feeds us in a few minutes with this speech. Most people are expecting him to try to strike fear into all of us, push congress into hammering out a bill so they can get to vacation on time.

Took me 2 months to decided and finally rate lock on a cash out refi recently, they are going to decide how to handle 700 BILLION in a week and a half?

Whoa.

My question is were you this upset when your house value was skyrocketing every month and money was easy? My guess is no.
There's plenty of blame to go around, repub pres with a demo congress, before that demo pres with repub congress. Last time I looked they are all responsible for running this country. Everyone wants credit for the party, noone wants to deal with the hangover.

 

Food for thought...

"We Deserve It" Dividend: Bail Out the Little Guy

I'm against the $85,000,000,000.00 bailout of AIG.

Instead, I'm in favor of giving $85,000,000,000 to America in
a We Deserve It Dividend.

To make the math simple, let's assume there are 200,000,000
bonafide U.S. Citizens 18+.

Our population is about 301,000,000 +/- counting every man, woman
and child. So 200,000,000 might be a fair stab at adults 18 and up..

So divide 200 million adults 18+ into $85 billon that equals $425,000.00.

My plan is to give $425,000 to every person 18+ as a
We Deserve It Dividend.

Of course, it would NOT be tax free.
So let's assume a tax rate of 30%.

Every individual 18+ has to pay $127,500.00 in taxes.
That sends $25,500,000,000 right back to Uncle Sam.

But it means that every adult 18+ has $297,500.00 in their pocket.
A husband and wife has $595,000.00.

What would you do with $297,500.00 to $595,000.00 in your family?
Pay off your mortgage – housing crisis solved.
Repay college loans – what a great boost to new grads
Put away money for college – it'll be there
Save in a bank – create money to loan to entrepreneurs.
Buy a new car – create jobs
Invest in the market – capital drives growth
Pay for your parent's medical insurance – health care improves
Enable Deadbeat Dads to come clean – or else

Remember this is for every adult U S Citizen 18+ including the folks
who lost their jobs at Lehman Brothers and every other company
that is cutting back. And of course, for those serving in our Armed Forces.

If we're going to re-distribute wealth let's really do it...instead of trickling out
a puny $1000.00 ( "vote buy" ) economic incentive that is being proposed by one of our candidates for President.

If we're going to do an $85 billion bailout, let's bail out every adult U S Citizen 18+!

As for AIG – liquidate it.
Sell off its parts.
Let American General go back to being American General.
Sell off the real estate.
Let the private sector bargain hunters cut it up and clean it up.

Here's my rationale. We deserve it and AIG doesn't.

Sure it's a crazy idea that can "never work."

But can you imagine the Coast-To-Coast Block Party!

How do you spell Economic Boom?

I trust my fellow adult Americans to know how to use the $85 Billion
We Deserve It Dividend more than I do the geniuses at AIG or in Washington DC."

 

I'm not too enthused about the whole thing either, but I think it beats the alternative.
I also think it will end up being good for the country as a whole.

What exactly IS the alternative??

There is all this talk but no one seems to know the answer.

 

I don't think anyone really knows for sure, that's what's scary, but my guess would include companies going out of business because they can't borrow money and city governments unable to maintain infrastructure because they can't sell bonds. Who knows what else after that?

 

Well my first thoughts on this plan are that it actually has a chance to work. The trick will be pricing.

If they can buy up a lot of this bad debt at a good price. They will have helped put those companies who bought all this bad debt in a better position. Plus if they can get the debt at an appropriate price it will in turn stregthen the economy because they can begin to dump some of the bad investments back in the market at a great rate. Much lower than would have been any other way.


The key thing that I see is they MUST buy into this at an appropriate price. If they buy all this debt at a cost thats too high they wont be able to dump it back on the market. It will be a never ending losss. If they get it cheap enough, you will start to see deals to be had and hopefully movement in the market.

I dunno im by no means an economic major but those are my first thoughts.

 

Before the Democrats' affirmative action lending policies became an embarrassment, the Los Angeles Times reported that, starting in 1992, a majority-Democratic Congress "mandated that Fannie and Freddie increase their purchases of mortgages for low-income and medium-income borrowers. Operating under that requirement, Fannie Mae, in particular, has been aggressive and creative in stimulating minority gains."

Under Clinton, the entire federal government put massive pressure on banks to grant more mortgages to the poor and minorities. Clinton's secretary of Housing and Urban Development, Andrew Cuomo, investigated Fannie Mae for racial discrimination and proposed that 50 percent of Fannie Mae's and Freddie Mac's portfolio be made up of loans to low- to moderate-income borrowers by the year 2001.

Instead of looking at "outdated criteria," such as the mortgage applicant's credit history and ability to make a down payment, banks were encouraged to consider nontraditional measures of credit-worthiness.

Threatening lawsuits, Clinton's Federal Reserve demanded that banks treat welfare payments and unemployment benefits as valid income sources to qualify for a mortgage. That isn't a joke -- it's a fact.