yuppers

slapped another 100billion onto the tab and passed it


http://www.msnbc.msn.com/id/26953481/

 

Now if only the house will make a ruling quickly and pass this...

 

why so stupid people won't be broke and homeless and stupid? So idiots don't lose the houses they couldn't afford in the first damn place because they're poor? this is the single most retarded thing the senate has ever done. They've caused the next great depression instead of saving us from it.

You can't just print 800 billion ****** dollars and they sure as **** ain't got it laying around. So where's it going to come from? Me and you will now own 800 billion bucks worth of NOTHING. They're buying sacks of FAIL from banks so the banks won't have to run themselves like a god-damned business. Mortgages that can NEVER be collected on will be an asset owned by the american people... how special. Letting dumbasses renegotiate their mortgages... uhhh no. If you signed up for a stupid deal then suck it and drink in those juicy consequences. The banks lent out the cash to asschowders with no bloody money to begin with so they could buy houses they couldn't afford and the banks knew what was happening and did nothing. They deserve to go out of business and everyone else that gets touched by the pain deserves to take a hit because we all let it continue.

Cool, so print 800 billion dollars and now the dollar is worth half as much, gas prices shoot back over 5 bucks a gallon (but banks are making loans), prices for grain products triple, millions of smelly stuck-up sticky-beak tourists from europe flock over here cuz the euro is trading at $3.50:1, people that were in a good place financially due to good planning and hard work end up assed out in the cold cuz they now can't afford to eat. So some dumbass won't lose the house he should never have bought.

Wow... when by the way did it become the job of the government to **** wtih wall st? Where is that in the Constitution? oh yeah... IT'S NOT!

 

I've already begun sending emails to each and every state rep to defeat the bill or lose it in committee.

 

Not only did they add $100 billion dollars, but they raised the FDIC insurance limit to $250,000. Which would be great if we had the money, but seeing as our nation is trillions of dollars in debt, and the fact that we want to borrow almost another trillion dollars I'd say it's a bad idea.

 

Pretty much unbelievable. I'm just about ready to give up on ths country.

http://www.youtube.com/watch?v=_MGT_cSi7Rs

 

were not even borrowing it.. it's just monopoly money basically. Like r3d said we have nothing to back the money. Either way it was stupid to bail out these companies while each CEO made multi-millions. Our government has gone retarded and doesn't get it because they all have their nice government income and have no idea what its like in the "real world". At this rate the Peso will be worth more than the USD soon... The WaMu CEO I believe made like 13 million dollars after the bank went down the ******* for only 3 weeks of work.... yeah OK take his 13 million and throw the bastard in jail. Along with the others. They take what all those guys made from Lehman bros, etc and they could put a dent in the national debt haha

 

The damn bickering about which political party is to blame is starting to **** the hell out of me. Some Americans need to take that big pointer finger they have and stick it straight up there asses. The problem is our who economy is based on debt now people buy and sell it cause we don't have money anymore. 6 out of 10 people in America are in debt and a good part of them have no plan to or no way to ever pay it back. The only way to fix this is for everyone causeing the problem to accept the blame and start paying more than the minimum balance on there debts..... Fat chance of that happening so were all fucked


Just for clarification I'm not talking about people will home loans or car payments

unless you make 25,000 a year and drive and escalade or got financed for a $200,000 home

I'm talking about the people 20,000 deep in credit card debt and still diving because they want to live beyond their means

I Have a credit card but you better beleive that it has $0 balance once a month

 

I agree for the most part, especially about people getting into houses they couldn't afford and the banks knew it. A while back before I purchased my current home and the market was booming my wife and I got approved for a $600k loan. There is no way on gods green earth could we afford a payment on a $600k house, but the bank that approved us could give two ***** cause the guy that pushed it through just wanted his commission. It's the banks fault for allowing stuff like that to happen, but the fraud that was committed on a daily basis by the people in the mortgage industry was crazy.

My wife used to work in the mortgage industry and she was part of this dudes team that was making so much money that he was taking his team on trips to vegas and out to Ruth Chris every month ect....It was just crazy.

The only thing I would mention is there is a large group of us that did everything right.....got a loan we could afford, got a fixed interested rate ect....and the economy took a dive and one our incomes went away, which all of the sudden lumps us into the group of not being able to afford the house or barely afford it. Now that my house is worth 50% less than what I paid for it, and still have a large payment I have no problem trying to take advantage of some government program to refinance my house to the current value so I can keep it. But in all reality people like myself who did it right the first time, but just had some shitty luck are going to be the ones penalized.....the jackasses that made bad decisions will benefit, not me.

I only bring that up because I get a bit defensive when people like myself who did things right get lumped in with the dumb asses that got in way over their heads.

 

agreed jjt. I often overlook those that just got boned. Still, we agree on who caused this and why.

You see folks... this has to say something. JJT is an admitted liberal and I'm a pretty hard core conservative (notice no party names...I'm not a republicrat) and we can agree on this without any heavy discourse because it's just common sense.

Now look at the senate, full of grossly rich asshats with their hands in businesses which they're handing billions to. How many senators do you think own stock in J.P. Morgan-Chase-WaMu-Providian-Guam? How many are by profession (other than being lawyers) capital investors? Most, on both counts. They manage to get 83 Senators to agree with each other that 800 BILLION bucks needs to be given to entities which they own large swaths of and stand to gain a direct benefit from saving... hmmmm. Wonder if there's any corruption there. It couldn't be that they see exactly the opposite of what the people seem to want as the best way to keep their jobs. I mean seriously... senators can't all agree that the sky is blue or water is wet and yet they get 83 of 100 to agree that 800 billion bucks to their buddy list is best for me?

On an aside, if you spent $10,000 every minute non-stop for 1521 years you'd spend about that much. Think about that... that's 1.44 MILLION bucks a day since the fall of the Roman empire.

 

[QUOTE=r3dn3ck;355605]senators can't all agree that the sky is blue or water is wet and yet they get 83 of 100 to agree that 800 billion bucks to their buddy list is best for me?QUOTE]

LOL....that's the truth.

 

Quote:

On an aside, if you spent $10,000 every minute non-stop for 1521 years you'd spend about that much. Think about that... that's 1.44 MILLION bucks a day since the fall of the Roman empire.

I did think about it, and I think your math may be off… unless I’m the one that is wrong, or I may have misunderstood something. I am no math whiz. Also, pardon me for writing it all out. It is easier for me to comprehend that way.

There are 60 minutes an hour.
There are 24 hours a day.
There are 365 days a year.

60 minutes a day * 24 hours a day = 1,440 minutes in a day.

$10,000 spent every minute * 1,440 minutes = $14,400,000 worth of spending a day.

$14,400,000 spending a day * 365 days in a year = 5,256,000,000 spent a year.

$5,256,000,000 spent a year * 1,521 years = $7,994,376,000,000 spent total.

It would take you a little over 152 years to spend $800,000,000,000, not 1,521 years.

You'd have to go back to the year 1856 or so, which is a far cry from the fall of the Roman Empire.

Did you get that out of a circulated e-mail, Red? My boss got one the other day, and we all sat down, did the math, came up with the same answers, and determined the e-mail was wayyyyyy off.

But hell, I could still be wrong. Someone correct me if I am.

 

Hey at least his math isn't as bad as the $425,000/$425 email I posted on here last week.

 

If you do it 1,000 dollar a miniute it will work

 

whats with all the good will hunting math... 800billion is a billion dollars a day for 800 days!

 

True, haha. I don't like to automatically believe everything I read, especially in regards to politics, so I try to figure things out for myself.

 

Yeah but that doesn't sound as cool as dating back to the Roman Empire.

 

if ceaser had 800 billion dollars his great great great grandson would be running the world.

 

i dunno...

I have a hard time believing this was a good idea, i have a hard time beluieveing anything i hear about this crasp because usually either side FOR or AGAINST is so full of hyperbole and doomsday sayings that i guess we were fucked either way.

but god damn... 800 billion... jesus that is a lot of money... personally i say let the banksowners for **** themselves in the unemployment line

but... money talks

 

If this passes I know that our government just makes decisions based on whos in office and who they are in bed with. We are not governed by the people but by politicians who want to rule the masses plus stuff their pockets with wealth and desires of every lasting fame. I feel like we are in the Matrix. Are we truly free or is it just the illusion of freedom and choice that keeps this nation intact. Im afraid its the latter folks and we keep taking the blue pill.

 

yeah... I boneheaded the calculator... my bad. <hangs head in shame> misplaced a decimal

 

****.

 

well put! LOL

 

yer such a dork

lol...

 

Why dont they just have a program to extend mortagages to 40 or 50 years. It does not bail out banks but give more options to home owners.

 

sounds like a good idea to me!

 

cause 30 years is short enough most people wont be dead by the time it is paid off.

a 50 year loan to who, a 20 year old?...

lol...

 

Anybody else here see this as collectivization? The only difference is that the government is giving compensation for taking control. And it's great that our leaders see the only solution is to set a precedent so that if a company fails for being retarded, they can be rescued by the government at the expense of the taxpayers. Even better is how the government sees that the solution is to intervene, even though that was the problem in the first place.

The way I see it, there are two solutions that would do a better job. One is to cut capital gains and corporate taxes. Both would increase investment and bring more companies here, bringing in more cash. In fact, we should abolish both since in the end, both taxes are paid by consumers since the taxes are included in everything we buy since anyone w/ common sense will know that corporations don't pay taxes, they collect them. The other solution is to eliminate our shitty tax system for a consumption tax, such as the FairTax instead. This would be even better since the basis of this crisis is a loss of capital and w/ the FairTax, all of that cash in offshore banks will be moved into US Banks. That alone will be a bailout, w/o government intervention but w/ government incentive. Unfortunately, we have a majority in both houses of Congress that don't want any of this because "it'll hurt the middle class" and yet the bailout won't?

 

yea, 40 and 50 year mortages wont work lol....

 

Who cares if they never pay it off, we will be making money off the interest and they will not lose their homes. Do you think banks want you to pay off loans? Once you pay the loan no money is being made.