Huge Bailout Proposal--$700 billion--Suck the bad debt out of the financial system

The bailout is not designed to benefit anyone who took out a loan or credit card.

It's purely to benefit organizations that made loans or invested in derivative products of the loans and lost money.

The people who took out the original loans will receive nothing from this.

 

What is going to be used for collateral with the bailout. Morgan Stanley property in New York is worth an estimated 1.5 billion dollars, the property at the Hamptons is worth 100 million. The property assets that Morgan Stanley owns throughout the US not counting the 2 I listed is worth an estimated 2 to 5 billion dollars. Each company that is bailed out should have to put up collateral in case there is miss management again

 

The Dems are trying to use the bailout to 'keep people in their homes'

It's starting to smell like a giveway.

 

To paraphrase the scion of a great DNC family... I don't want 'em to pay for one vote more than is absolutely necessary.

 

This is about the absolutely worst time you could pick for congress to hvae to pass a bill like this, with like 5 or 6 weeks before the big election. How can this not be politicized?

 

Village Voice is blaming Dem Andrew Cuomo for the housing bubble

http://www.villagevoice.com/2008-08...to-the-crisis-at-fannie-mae-and-freddie-mac/1

 

Isn't that the same guy McCain says he wants to put in charge to clean up the mess? Pretty ironic.

haha, here it is:

http://online.wsj.com/article/SB122218497041967511.html?mod=googlenews_wsj

 

Obama, McCain and a few more politicians are in the Wall Street mess shoulder deep.

 

You are so stuck on yourself, you probably think you make the sun shine.

In fact, you are probably doing well in this crisis because you are exploiting it. You add no value. You contribute nothing. You only use.

For you, this massive wealth redistribution is perfect and shows how much "drive" and "determination" you have.

You love to blame the victim with your racist scapegoating (oh those minorities made those non-minority banks give them money) while causing havoc and damage in the marketplace for your own selfish purposes.

I'll say it again, people like you are the problem and what is causing this crisis to worsen

All of you need to be thrown in jail.

This is not how a free market is supposed to work.

 

Cant be true anyway... *I* do that.

 

I was trying to figure out how Pionergold got so angry and keeps blaming everyone for the mess. I am guessing he is losing everything because of his bad loan choice and buying a house with no money down and now is upside-down on equity.

I will be the next one to blame for the whole mess.....

 

Homebiz: The Community Reinvestment Act was DEFINITELY not the cause of the subprime mortgage mess. Look up numbers.

The explosion of subprime mortgages came from offices that were not regulated by the banking laws that apply to CRA. Additionally, banks subjected to CRA had subsidiaries not subject to these regulations. They were making sub prime mortgages.

It is total bunk to blame it on CRA.

In fact the mortgage industry was lending to anyone. It was lending to folks without credit checks. It was a massive industry wide rage to earn fast fees with the types of loans that paid the highest fee rates and were the easiest to process. That is a whole different kettle of fish.

 

I'll make it simple.

Don't blame minorities for this mess when I'm around.

Otherwise, I'll never let it go and throw it in your face every chance I get.

 

Just because you are considered a minority in the USA and you got yourself into trouble on your loan doesn't make it everyone elses' problem.

So quit trying to throw poop like a monkey and go bury it like a man.

 

With once-mighty financial institutions around the United States reeling from the subprime-mortgage crisis, the mayor Bloomberg announced yesterday that only five of the 17,109 mortgages granted under the city's $7.5 billion affordable-housing program are in foreclosure.
http://www.nypost.com/seven/0924200...eds__heres_the_way_to_do_it__mayor_130516.htm

 

I don't know what you are talking about.

So, let's be clear.

Who do you consider a minority in this case, who specifically is to blame for the country's woes?

I am looking for a physical description of the type of person you say is the cause of this financial mess.

 

You are the one that replied to me about minorities, so you can keep your racist baggage to yourself.

The ones who play a part in this mess are the one who got variable rate loans when rates are lowest in ( ) years and financed 95% or more of an overvalued home.

The other part is the financial institutions who lent that person the money.

Now which race of me or my family do you want to hate, I think we have it pretty well covered especially since we are all part of the human race?

Let me guess, you marched with a race-baiter like jesse jackson so now you are some sort of expert??

 

I got this via email:

 

Not an unwarranted opinion. I'm slightly afraid the urgency of cutting a virtually blank check that was requested with almost no controls (and now has every interest on the board lining up for a bite) is mostly urgent because our elected officials have a lot to lose personally if they dont step in and grab what the Economics 101 teachers term "the invisible hand of Adam Smith".

We are in deep muck either way, so Congress will vote in the way that allows the taxpayers to shoulder losses they themselves would have found ruinous if they let these institutions freefall in the method dictated by the actions of their management.