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It looks like the Rebulicans and Democrats could not get the vote through. What will happen now? Are you concerned? Maybe if they divided the $700 billion among the people like they did the stimulus check we could get turned around? |
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Angelbear, you hit on the perfect plan... Give the money to the people..not the Wall Street Fat Cats! I moved 80% of my retirement into a safe fund. The other 20% will probably dribble away but maybe it will grow in 10 years or so. I will leave it alone for now. |
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| We should suggest that these CEO's of different companies not get such huge payouts when they decide to leave. It's ridiculous the amount they get. That amount could be used to help prop up the economy, both here and the USA |
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Yes, I'm worried. This morning I drove the kids to school and on the way I saw a sign. It said.....Home Owner Looking For Work. Also, although Walmart isn't laying off yet, our store has been cutting back on hrs. So far I've only lost 2 but I'm expecting to lose another 8. Word is that they are going to do this nationwide. I especially worry about the younger people who are barely making ends meet as it is. |
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While I don't profess to know much about the bailout idea, it seems to me that something is not right here. The banks have admitted that they made a lot of high risk loans, too many of which required 0% down for purchases of homes as well as cars. If funds were given to bail them out, what happens to those of us who have been working to keep our payments current? Heck, when I started out, you had to have at least 10% down on a house and then were required to carry mortgage insurance to make sure you did not default on your payments. I have a young nephew who got started a new job, got married and built a beautiful new house all within a 12 month period of time. Both he and his wife (who does not work) drive new SUVs and took a cruise for their 1st anniversary! When I asked my local banker how he thought they can afford all of this, he said zero downpayment and credit cards. The younger generation today lives for today. They want it and they want it now. So, who is this bailout idea supposed to be helping? The banks or the people who are being foreclosed upon? |
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Yes I am concerned about the financial state of affairs for our country. I wonder why we should bail out those that created the problem to begin with though. Right now no one can get a loan for anything; so now car dealerships are hurting, people who would like to refinance their homes are being told no, and many businesses will be closing doors more than likely because they will not be able to borrow against their business. CEO's of mortgage companies, banks, etc., will walk away unscathed by their greedy actions since they will have their "golden parachute" and probably a home (or 2-3) that was/were paid for by our $$$ to begin with! |
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