Posted on 09/21/2008 8:29:51 PM PDT by Revel
Try FOX Business - it’s a link off the main foxnews.com website.
Judging by the way this is all shaking down...I wouldnt be surprised that the other bad loans are bailed out.
They already want to bail out bad loans on overpriced property...ugh
I do not understand what is happening right now.
I don’t know how there could have been so many bad loans.
I didn’t really understand the subprime mortgage industry.
How did we get in this mess?
It makes me mad because my husband and I have been so frugal through the years, and it seems like CEOs and our govt have not been so frugal.
This is already happening with student loans. Started about a month ago. The gov’t is now the “lender of last resort” and will act as a lender even for loans that are not gov’t loans (NDSLs) but for FFELs too (which were always for private lenders only, albeit guaranteed by the gov’t).
Ok. I have to admit it...I don’t understand a lot of what is happening with this bailout, and the more I read, the more confused I become. I want to understand it. Can someone explain it to me? Pretend you’re talking to a child and use simple terms, please.
If we need to, we can march on Washington and force the Congress to throw out this law after the election. We just cannot panic at this time.
Sarah has told us that it is her mission to bring reform to Washington, and she’s proven that she is entirely capable of doing so. Let’s all continue to work our butts off to get her to where she can do the people’s work.
Yes, we all need to be informed of how deep this sell-out is, but let’s not let this (very real) crisis throw us off our game. We must win the big prize to stand and fight another day.
Yup I know how you feel. Hurts to be one of those that tried to save- and get to watch your savings killed by inflation and very low interest earning. Meanwhile your tax dollars get to go to the bankers who caused all of this. And to bail out those who did not save...and took on things they could not afford. The bankers did this by giving Credit to anyone. There are various reasons why they did that. But they did it because of cheap money from the fed, and to make a quick buck at the moment. Every arm of the Government encouraged and enabled it all because it made the economy look so rosy. But it all came at this price. The price that we are paying now.
Increase your cash on hand. Hunker down.
;-)
I know what you mean....we've been very careful about our purchases, no "new" boats or vacation homes for us...nope, we paid our dang bills, tried to save, put 2 thru college, support one disabled dtr, give to charity and I wear my sneakers to the ground ....
the reward will have to be just us knowing that we did it...
I just financed flooring for my house. I’d sure like to walk away from the debt. I wonder if I could talk to Paulson about picking it up for me.
Cherry, in & of itself....that's NOT a bad way to look at your life...!!!
This is insanity. The Government is out of control. I do not know what the people can do to put an end to this, but I trust McCain and Palin will put and end to this Big Daddy Government that is killing the American taxpayer.
Cool. I have a bunch of credit card debt that they can start off with!!!
Sure, lets eat all our seed corn. Why not just make everything free and painless? But what happens when the $$ finally runs out or becomes worthless? Think cannibalism.
Before anyone jumps on me, my last post was meant to be sarcastic.
What do you suppose the effects of this will be on the economy? Short term? Long term? For small businesses like construction, which is at a near halt?
I loaned my cat $1,000,000 last year and she isn’t paying it back. Can I send the note (with paw print and all) somewhere to be reimbursed?
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