Biden just exposed Palin for what she is.

[Unearth078]

y

You do know the straps on the sub-prime guys were loosened, allowing those no credit loans, and all income levels needing housing back in 99 durring the Clinton Administration ( What party was Clinton again? )

word both partys are responsible and finger pointing delays fixes.

[nando]

My problem is... name one thing that the government does effectively? They are investing in problem companies that have a failed track record. What will get them to walk the strait and narrow and what consequences do they have if they fail again. Jail time and forfeit of assets for the company brass? What guarantee does the American people have that their money is being wisely invested?

I agree that the goverment is generally incompetent and I've made that point in other posts.

there are no gaurantees. The risk is supposed to be reflected in the interest rates (although that is pretty much central to this entire issue).

all we have are the bonds from companies that are being bought. Also, they aren't being completely bought out (at least not the last plan I heard about), but the goverment is buying a substantial percentage of their assets. So really the US taxpayers are becoming shareholders in these companies, they would continue to operate as they do currently (well, hopefully better managed) except the government would have voting shares like any other shareholder.

It looks like it passed - so we will know if it worked in the coming months. Maybe there was a better solution - I don't know - but letting the financial system freeze up is not a good alternative. I'm just glad my wife pushed me to get our house sooner rather than later, because I'm certain it would have been impossible now.

[z31maniac]

they are not acting as a company... so nothing???

theyre acting as investors...

I like that you don't even understand your own analogy.

[Farbin Kaiber]

Here i'll solve your problems. Move to Canada, we don't have complete tards in charge of our country, they're only mildly retarded.

And if you're from the southern states. Bring E30's we're running low on solid bodied ones.

The tradeoff to government tards to civilian tards is not worth the trip. You guys are overflowing on the latter.:p

[atomic]

What is funny is the housing mess we are in with all of the sub prime loans and what all has gone on with Fannie Mae and Freddie Mac are a direct result of the Clinton administration. It has NOTHING to do with President Bush at all, but the left wing pundits sure as hell are making it out like it is Bush's policies that have brought us to this.

Cuomo was appointed to the Department of Housing and Urban Development in 1993, as a member of President Bill Clinton's administration. After the departure of Secretary Henry Cisneros at the end of Clinton's first term under a cloud of an FBI investigation, Cuomo succeeded him as HUD Secretary in 1997, serving until 2001 when Clinton's administration ended. In 1998, Cuomo's lauded work in the department garnered speculation that he could challenge Senator Al D'Amato but he ultimately declined, saying that he had more things to revamp in the Department. He was also mentioned as a candidate for U.S. Senator in 2000 but deferred to First Lady Hillary Rodham Clinton.

As HUD Secretary, Cuomo set ambitious goals to increase home ownership for minorities and low income people who had historically been rejected by mortgage companies due to low credit ratings. These goals led to Cuomo and the Clinton Administration applying pressure to Fannie Mae and Freddie Mac, so that the government subsidized mortgage companies would loosen their credit restrictions - despite warnings that this could lead to a boom then a collapse within the mortgage industry. Fannie and Freddie acquiesced to the pressure, resulting in the sub-prime lending boom of 1999-2006. In 2008, these mortgage companies were on the verge of collapsing, primarily due to the failure of many of these sub-prime loans.

Taken from HERE


:roll:

[Unearth078]

?

I like that you don't even understand your own analogy.

your shit just stinks. we are investing in the companies that are rebuilding the others as a goverment.

if you cant equate that to most of whats been said your choosing not too.

[Vedubin01]

It looks like it passed - so we will know if it worked in the coming months. Maybe there was a better solution - I don't know - but letting the financial system freeze up is not a good alternative. I'm just glad my wife pushed me to get our house sooner rather than later, because I'm certain it would have been impossible now.

Investing money with no stockholders meetings. Not able to personally vote based on the number of shares. IF the companies fail, the only thing we have is bond paper we can wipe our asses with and pay more taxes to fill even a bigger void.

Its a no win situation. ITs way beyond Dems vs. Republicans. Its a dark time for the United States. I just hope we come out better than we are now. Because the only thing left would be a civil war.

[Aptyp]

And we're fucked, House passed the bailout.


EDIT: they had no hearings to pass it

[nando]

And we're fucked, House passed the bailout.

unless it works.

[Farbin Kaiber]

It won't, Bernake dumped $630bil the same day the market dropped 777.7. That didn't do shit, but no one is bringing that fact up.

[Aptyp]

All I am saying is, I am buying guns now in case it doesn't work.

[kronus]

All I am saying is, I am buying guns now in case it doesn't work.

Buy knives and swords. Bullets will run out.

[rwh11385]

Not if your from the south or east of the Mississippi. All it takes is one drop of "black" blood to taint a person in the eyes of so many of our older voters who are set in their ways. But i digress.

But this should be an off the topic thread.

Nice discrimination!!

[eric (^__^)]

It won't, Bernake dumped $630bil the same day the market dropped 777.7. That didn't do shit, but no one is bringing that fact up.

Yeah I was wondering why we hadn't heard anything about that.

[Vedubin01]

Yeah I was wondering why we hadn't heard anything about that.

or the Billions that Freddy and Fanie already got. Oh and AIG..... WE are about to hit $1 trillion in bail outs so far!