In fact and only to test the situation, I went to the bank to borrow what is about 10% of my total annual income yesterday and you know what they told me?
"Thank you, is there anything else I can assist you with today?"
The only tight credit is for people who shouldn't be borrowing the money to begin with. This is a sham, a scam and a lie. I can't quite put my finger on how they've managed to convince every major leader of each party, house, senate and executive branch but something very VERY bizarre is going down here and it is NOT what they're telling us it is.
Credit is no tighter right now than it should be and the stock market is going to be fine (fine after some very reasonable corrections!).
Sure some more banks will fail and there is obvious major turmoil about to happen, but this stampede to do this bail out bill has me a lot more scared than the thoughts of what might happen if we do not do it.
This talk of businesses that can't make payroll without credit is either 100% Bull Manure or we have a lot of businesses that are in fact already insolvent. If your business needs short term credit to make payroll, you should accept the fact that your business is insolvent, with or without this bailout your business should close it's doors. Credit is not for "making payroll" and if that's really what we've come to, we're way past over extended. Personally, I think they've taken what might be 4 such instances in the country and exagerating things to make it sound like every business in the country needs credit to make payroll.
Yes I know of car dealerships who are hurting, but those are the dealerships you've all heard screaming on the radio adds about how anyone can get a new car for only $89 a month, no credit, slow credit or bad credit, anyone for $89 a month..... those car dealerships SHOULD be hurting as they are part of the problem with the types of loans they've been living on.
No doubt there will be "adjustments" but there will not be the apocalypse our precious leaders are so convinced of.
It's all hype people and we need to call their bluff and let the cards be laid out for all to see.
Did something similar. The thing is if you have bad credit, they won't loan to you. And that is racist! /sarcasm.
But something is up. We are being very carefully managed. Look for someone to come out of the shadows to "save" us.