whoever votes no on the bailout.

[Purple & Gold]

It's not even the fact that banks will stop giving up loans, its that our economy will go to and very fast. The dollar will just plummet like a rock. There is no gold to back up our dollar. We are so market confident driven that if we don't back up our banks and dollar no other country in the world will take our currency seriously. Maybe this is a first step in the Amero, something I believe will eventually happen. It sucks, but it is what it is. This influx of cash is much needed.

[Spurminator]

what would happen if they gave $2,000-something dollars to every person in america instead of to the people who screwed up?

I would buy Apple and Samsung stock.

[Thunder Dan]

no matter how you feel about the bailouts, it is a scary scary time

[Supergirl]

When/if a deal goes through, I expect we'll see both candidates vote for it.

As the New Yorker article I posted in another thread points out, history shows us that when the economy is facing a crisis it does stabilize it to socialize it. Which is a major problem for the Republicans, since doing so flies in the face of everything their party supposedly stands for.

[Wild Cobra]

I have a 720 credit score, with 2 car loans paid off in 5 years, a good job, and no significant debt (maybe $600 on a credit card statement depending on the month). I was turned down for 2 home loans because I have only been at my job for 3 years, and becuase my credit history is only 6 years old. I needed about $20,000 to put down in order for them to approve a loan of a non substantial amount of money Now you are going to tell me that I'm wrong that banks are not loaning out money? I should be able to get that loan every day of the week- but banks are scared. Nobody is getting the money they need to grow because of it.

That's what just about everyone has to qualify with. You need a proper down payment. Making loans without proper collateral, like at least 10% down is why they are hurting! They thought they could make these loans, but didn't count on the marker reversing. They would have forclosed and sold the assets, but the values went down instead of up. That's why they are hurting.

QUOTE=Thunder Dan
I agree and wish they could teach these greedy slimy bas s a lesson- but the fact is, America couldn't survive that lesson. Believe me, nobody wants to live in a America without banks. No cars, no homes, no nothing.[/QUOTE]
You think someone else won't create a bank?

Get real. It's not the end of banks, just the ones who ed up.

Another example is my college roommate who is a pilot for a major airline was turned down by 4 banks for a boat loan of $15,000 at 9% interest. His payment was going to be about $250 a month- he makes $60,000 a year and has a 780 credit score, and the condition they said was he could qualify only if he a) had a cosigner, or B) put $3500 down (ie 25% of the loan amount). He ended up going with a foreign bank (ING) to get the loan.

Again, without a PERFECT cedit score, why should anyone expect a ZERO down loan,m especially on something that decreases in value as soon as you buy it?

I mean this is how banks are supposed to make money- but they are turning it down

Simply come up with a proper down payment like the rest of us do.

[DarkReign]

^ Its weird, I was just having that very same conversation with my father-in-law yesterday. Him telling me how it used to be. 20% on your house or get the out.

[Purple & Gold]

I agree that without a proper down payment it has to be looked at a risk. But to encourage people to own houses rather than rent with money (tax breaks) and yet not allow people without money already (down payment) to own a house is a bit hypocritical. Just another way for people with money to just make more at the expense of those that don't have as much.

[101A]

See, its my belief Americans need to be punched in the mouth.

I'll assume you have been punched in the mouth before, yes?

The butterflys in your stomach quickly go away, your senses become immediately sharper and your focus on the matter at hand becomes almost religious.

We are being run by the true elite (not this political pandering of elitist thrown around without regard), and these people are real. They own every politician, blue or red or green, to a point where they have carte blanche on all legislation that pertains to them (which is rare since the monetary system in this country is controlled by a non-government agency we call the Federal Reserve....its about as Federal as Federal Express, I believe the saying goes).

Americans need to actively participate in their government more than they do. 30% voter turnout is the penultimate stat of our incompetence and blazé fare (sp?) at ude. The only way to "punch them in the mouth" is by hitting them in the pocketbook.

It is my opinion that this bailout does nothing more than kick the can even further down the road. I say no, I say let it stop here, let the cards fall where they may.

Maybe, just ing maybe, the American Idol-worshipping, People magazine subscribers of this country will wake the up as a byproduct of this whole mess.

As it stands, this bailout will change nothing for your average American. They never had to give a . Now what little they do have will be in jeopardy and it will require them to (*GASP!*) actively pay attention to the world around them.

If this bailout goes thru, IMO, it will just continue to keep the sheep ignorant of the wolves. We are not vigilant and we need to be. This is an opportunity, IMO. I say seize the day with both hands. Cull the herd.

I'm mad as , also. I would rather the bailout not go through. Don't know the ramifications, don't really care. them.

[101A]

I agree that without a proper down payment it has to be looked at a risk. But to encourage people to own houses rather than rent with money (tax breaks) and yet not allow people without money already (down payment) to own a house is a bit hypocritical. Just another way for people with money to just make more at the expense of those that don't have as much.

...and the way its been for eternity.

People who own pay property taxes; people who rent, don't.