So why ain't anybody talkin about the bailout?

[Wilma]

Jerry, my calculator says you are right.  But it sounded good, didn't it?

[jerry wagner]

I certainly would have signed up for had it been correct. 

[pam]

This is gonna be painful no matter what they do, just get it done and we can start gettin over it.

Normally I don't post in the political section since i would be bulldozed for my opinions, so I won't express an opinion,

Everybody has different opinions and they are all important. Don't think anybody ever means to bulldoze anybody, just different people get fired up over different stuff, but that's how you learn things sometimes. I've had more than one opinion modified by talkin to people who get fired up on here, and I've had a few opinions solidified by talkin to people who got fired up (shrug) but that's just me, I ain't sweatin somebody disagreein with me I just jump in the deep end and learn how to swim lol

[pam]

Guess I'm one of those wierd people who figures you don't get anywhere just talkin to people who agree with you, if nobody challenges your positions how do you know if it's what you truly believe?

[jerry wagner]

Thanks, Pam .  I usually do express my opinions, however lately I've enjoyed the spot of watching other people and not getting yelled at (you can yell on the internet LOL).  However, we do need to resolve the current debate on the bailout, and we need to do it now before it drags us further down.  Granted even if this plan or another is enacted, we will have further to fall since home prices haven't stabilized yet and home sales are still declining.  There are currently two plans floating around:

1.purchase the distressed assets of the banks at a market price (still to be determined); restrict corporate pay for CEOs,etc; require an equity stake in the company for the bailout
2.the conservative republicans yesterday floated a plan to insure (much like FDIC) the distressed assets and charge an insurance fee to do so that would be scaled based on the assessed risks of the bank

In general, I've read several articles from various debt rating agencies, economic experts (which realize is always questionable) and other sources, and all have said the last plan is unworkable mostly because it doesn't directly inject liquidity into the market.  However, at this point those are the two plans that are being discussed, to some degree.  

[sixdogsmom]

I don't think this is a partisan issue at all, just an issue of greed and bad business practices. Many people got caught up in the housing bubble and expected to buy into a home using all their assets and financing the rest thoroughly expecting the home to greatly appreciate in value in a short time. Then they would sell, and take the profit. Lots of people in areas of greatly inflated real estate prices invested in several homes, and then when the bubble burst, they could no longer make the payments and couldn't sell because there were no buyers. And there were the sub prime loans that should not have been made anyway; it is obvious that there was some hanky panky going on there. Unfortunately, we are now expected to bail out all these people and there is no guarantee that it will get the economy going again. The economy has been in a slow down for some years now and corporate welfare seems to be the mode of the day with John Q Taxpayer getting it in the neck again. Perhaps it will help, and maybe if the loans are repaid as the Chrysler loan was it will be worth it. But I think we will be feeling the effects of this years Wall street problems for many years. And thank you Jerry, for posting that discrepancy; I noticed it yesterday when Judy first posted that email, but my time has been very limited for responding to the politics thread. Just been trying to keep up with what is going on in the Washington world and my house full of company at the same time.  

[pam]

Yeah, that's what I've been hearin said about the last one too. And the housing bust still does have a ways to go. I got layed off last december, me and three other guys off the same crew, I've been talkin to my old boss along and things still haven't picked back up, most guys around here are workin bare bones crews except for the really big commercial guys. More than a few went to workin for somebody else


I was typin at the same time as SDM Yeah it was greed and bad business practice. Yeah they oughta pay just like you and me would if we did somthin that goofy. Lot of decent people are caught in the undertow from this, it's a huge mess and it ain't gonna be a cakewalk no  matter WHAT they do.

[jprxmkt]

Can anyone explain how this $425 amount figure translates into the $10,000 per family price tag the government has put on each family? What am I missing?

[sixdogsmom]

I think the $425 figure was just for bailing out one entity, AIG. The $10,000 figure is for the entire bailout, the total is just under $1,000,000,000,000.00 ( One Trillion dollars). At least that is what I can gather. 

[Lookatmeknow!!]

I just really don't understand most of this bailout thing???  I guess it gets me because if I fault on payments and loans, people are banging on my door or phone.  I am with you on these people that got in this situation were not smart and the big companies even dumber.  I mean, I had looked at several options before we purchased my daycare.  I have to tell you, they checked my credit hard, especially are banks here in Howard.  I think that is a good thing.  They are not lending money to people that won't pay it back, and they are getting their money.  But this bailout thing should be our mistake and we shouldn't have to pick up the pieces.  I run a business and I mean to tell you things are getting TIGHT!!  Not only for our business, but everyone around.  It stinks to think that, us people that are barley making a living are the ones that are always helping the ones that make the big bucks.  If I am wrong about that, let me know!  We are cutting back on things that I never thought we would have to cut back on.  And if you farm or ranch, man things are really tight!!!