Bail Out For Everyone Else

[corndog]

Now, all of a sudden the republicans are completely disregarding what their President said was a crisis, and needed to be done ASAP to avoid a massive recession (which I am convinced is a code word for "depression.")?

Something fishy is going on..........

Fishy indeed. If the situation were really as dire as the President, Paulson and the Democratic leadership claim, the market would have tanked significantly by now.

The only people interested in the "bailout" are the ones that are going to pocket the taxpayers' money. It's a total scam.

The fed could accomplish the same thing the bailout purports by simply lowering the reserve requirements, which would cost the taxpayer NOTHING.

 

[minnieandmickey]

I believe one of the provisions they are trying to agree on with the bailout is some kind of help for homeowners as well. Maybe if we can help them to keep paying something every month, the crisis will be somewhat mitigated. The whole situation just burns me.

Well they better come out with a program that will cover the whole amount owed on the house. The program they currently have out that was to help save homeowners only covers what the house is worth, which I can't imagine anyones house in this situation is worth what their loan is right now.

 

[tinatark]

So if part of the bailout uses our taxpayer money to help people pay their mortgages - I think future tax refund, stimulus checks, etc. should go toward their debt. We cannot continue to reward financial irresponsibility - and I know that not all the mortgage consumers with problems are financially irresponsible, but I would guess that most are. The other issue is, what about the people who already have gone through foreclosure? They'll be in line with their hands out as well, I am sure.

I just don't buy that so many consumers were "snookered" into interest only, or variable rate loans. There are so many disclosures required - and if you are so unsavvy financially, you should recognize that and have someone else look over loan docs before you sign them.

We bought our house 5 years ago - put over $30k down. When we went to the closing for the house we were selling, the buyers GOT A CHECK at closing! I've always thought that something wasn't right with that picture.