Sounds like a hell-of-a plan to me! I'll vote for it! LOL

 

don't even get me started.

 

+1

 

I liked it so much, I posted on another forum...you have my vote...lol

 

I'm trying to buy a house right now... this little screwup idea of theirs will end up driving my home cost up over 100K dollars and prevent me from purchasing.

Thanks US Federal government for ******* the whole world over at once.

 

::Just shakes head and walks away..::

I know that if my business was to fail, the fed's wouldn't be coming to bail my *** out, why do it for anyone else?..

 

Unfortunately we are small fishes in a sea of deception. I like everyone else is fed up with this BS. Both sides of the house have many big $$$$ associates that will stand to loose a lot of money if this does not pass and they dropping big loads in their pants if they dont help them out.

They should not bail out anyone as this will just keep home prices from going down to where they should be. Its sad but many who bought houses that they can not afford need to go under foreclosure and those banks that were loose with their money need to go down as well.

I know what was going on for a while so it took me 1 year to find a house. The reason it took me so long is that everyone including realtors,sellers,banks were beleaving that the homes that they were selling were actually worth what they were asking. I made a lot of offers between 75-150k under the asking prices. Ive had my realtors insulted,laughed at and phones hung up when they would receive my offers. I got fed up with unreasonable sellers and only looked at short sales or foreclosures. I found my house for 220k under the market value. I have enough equity to absorb the declining market prices plus made some improvements through out my home. Guess whos laughing now

 

Why does the government feel the need to help these companies? Isn't that how business works, if you don't run your company the right way you fail and go out of business?

I just don't see why they are getting help.

 

w00000t! Bailout Defeated! (for now.)


That made my day.

 

I saw that. I also found it interesting that more Democrats were for it than Republicans. Independents were pretty even.

 

THIS THREAD FAILS. 85 BILLION DIVIDED BY 200 MILLION IS $425!!!! not 425,000 lol

Even if it was the full 700 billion it only be $3500 per person.

The bailout has to happen even if we don't like it, it will stop a spiral downfall of our economy.

 

I want my 425 dammit.

 

Good catch on the $425.. lol

I don't agree completely with you on the Bailout, but hopefully they will come to terms to help these companies/banks dig themselves out of the giant holes that they've dug themselves into.

 

You have to love those chain letters that are really just made up

I read an article that said the bailout came out to roughly 6000 per taxpayer but I didn't really care that much

 

I don't even come close to understanding the global impact it would have if these companies failed, but I tend to agree with WNRacing on this one. I might change my mind if I understood the global impact or domestic impact it would really have. I'd rather the Feds help people who were screwed by the mortgage companies and banks...not the greedy companies. A failure usually leads to a lesson learned.

 

Well, it really is a difficult situation. Obviously if these companies fail then a lot of folks will lose their homes, but I can't help but feel that some of them do deserve it. Throughout the whole adjustable rate scheme many people were going out and buying homes that were wayyy out of their price range because they were getting a good interest rate. Is this completely their fault?.. I don't think so, their realtors should have been advising them correctly rather than leading them down a rocky path, but I knew going in to buying my house what I could afford and stuck to it. I didn't let my realtor move me into a pricier home because I had set my personal limits and stuck to my guns..

If these companies do fail and go under, someone else will come along and buy up these mortgages, and assettes(sp?) it will put the country in a crunch, but I'm not sure that it would really be any worse than it is now. Obviously housing prices would drop, people would lose equity, but at some point it would work itself back out of the hole, just like it did before.

Is it worth another $700,000,000,000.00... I really don't think it is honestly. I just don't know how they plan to move ahead with "plan B." We should not have bailed out AIG, and for all intents and purposes it appears that Allstate, the Hartford and a few other companies are quickly approaching failure as well. Do we let all of these businesses fail?.. I don't honestly know how to answer that question, but I know handing them a blank check isn't going to do anyone any good.

 

you should have bought a house before a 5.4L engine...

 

30 years fixed at 5.75% FTW!

 

Yeah because a house and an engine are about the same price.

 

You clearly have no idea what went into the engine or what goes into buying a house (specifically where I live).

w00t... took the words right out of my mouth.

more truthfully, I wasn't planning on buying a house for another 12 months. I've used almost my entire cash reserve to pay down CC debts and pay off my cars early so I'd have plenty of spare cash to pay a mortgage and moving costs. 5 years ago I projected that we'd see this sort of bubble popping phenomena in the housing market and I knew I'd be able to pick up a nice house for a song. I did make a mistake in my calculations and predicted that the minimum of the trough would be a year from now and not, as we've come to see, right now. When I did a check on homes in my area a few weeks ago the prices were finally where I predicted the lower end average is going to hover for a while (at least in my town... things are a tad wacky here with all the high incomes in the area) and the time was now. My credit score was high enough and my debts were low enough. Thing is in Livermore, a house can be bid up from 300k to 450k in a hurry.

Now about the engine... I saved money from odd jobs and traded inventory from my other hobbies (guns, computers, tools, etc...) to gather the parts for my engine for over 2 years.

In short: I spent zero dollars of my paycheck or savings on my engine. So stuff it steviebuns.

 

yeahhh... because it's not like there's a difference of many hundreds of thousands of dollars between the two...

 

If a 5.4l engine cost as much as my house did, then I'd expect my car to do some amazing stuff. It damn well better transform into a huge *** robot and kick some ***.

 

The silly part is the 5.4 swap was done long long long ago. A year ago to be exact. So it's irrelevant anyway. To boot, the motor itself was put together (and paid for) for almost 5 months before I got it installed. Those baskets of cash aren't even in the same tax year.

I wasn't planning on buying a house for 24-30 months last october and even then... there's a limit to what I'll spend on a home. I don't plan on being stupid and buying a 500000 dollar house. I want a 300K house (which is as little as you can spend here and get small 3br house outside the barrio) that I can afford even if I have to take a 20% pay cut. I refuse to spend 300K for a crapbox though.

I'm pretty sure one day my car will turn into a giant robot and kick my *** for being so mean to it.

 

false

the car was born for punisment it will always love you for it

 

If that day comes, I want to be there to film it so I can plaster it all over the internet.

 

The "BAIL OUT" just paseed.

 

great....

 

Gov't to banks "Please don't make stupid desicions that cause the economy to collapse again here is a multi-billion dollar check to fix your mistakes

banks to Gov't " Thank we promise it won't happen again"



middle america to anyone who cares ie. (not the gov't)