[1FastFox]

$700B bill passed through the house... This really is a good thing guy. We desperately needed this and will help out not only all our economies, but economies around the world as most of the worlds markets are based off ares and ussually follow our market trends just a little behind. THis really was needed and is a real good thing...

[1FastFox]

BTW- the vote was 263-171

[vfast]

you will see very soon.....I hope your not going to buy a house soon

[sgrcltpunk]

what are they gonna do when they find out it doesnt fix anything
the economy needs to fix itself

[vfast]

easy ask for more $$$$$$..

[goren813]

Does anyone even know why the economy went to shit to begin with ??? It's all these banks and financial services giving out bad loans that haven't made their money back. Partly to blame are people who go in with the intention not to pay on their loans, or simply can't, but these companies have been doing it for years. Now we give them all this money because of something that they did?? CEO's making more than what I make in a year in ONE HOUR of "work" is ridiculous and now the company's are having to either sell or get bailed out by the government, which gets their money from who? The taxpayers, i.e. everyone who works for a living has to bail out these bad companies.

[PiggySmallz]

Originally Posted by goren420 Does anyone even know why the economy went to shit to begin with ??? It's all these banks and financial services giving out bad loans that haven't made their money back. Partly to blame are people who go in with the intention not to pay on their loans, or simply can't, but these companies have been doing it for years. Now we give them all this money because of something that they did?? CEO's making more than what I make in a year in ONE HOUR of "work" is ridiculous and now the company's are having to either sell or get bailed out by the government, which gets their money from who? The taxpayers, i.e. everyone who works for a living has to bail out these bad companies.

here we go again

[vfast]

no, they made people think they could afford those big house with their creative financing..and they took home billions in fees and commission all the while of giving the us people a great big shit burger..so now we pay them again..

[vfast]

nice read
Fundamentally, this financial crisis has been caused by falling house prices and defaulting homeowners. Yet the bill does nothing to rescue millions of families facing foreclosure. The financial bailout package should not only purchase the mortgage-backed securities of Wall Street, but also secure the backs of those carrying mortgages on Main Street.

A more effective, appropriate and responsible bailout bill should allow homeowners at risk of foreclosure to restructure their loans and stay in their homes. That's a bottom-up approach that protects homeowners, stabilizes financial markets and benefits taxpayers. It would treat the root cause, not just the symptoms of the crisis.

In fact, 770,000 families entered foreclosure in the past year, and 6 million people are expected to default on their mortgages this year and next. A recent report by the Joint Economic Committee of Congress anticipates that more than $100 billion in housing wealth will be lost through 2009 foreclosures and their effects on neighboring properties.

First and foremost, this financial crisis is about people who are struggling in communities across the country. It's about people who are hardest hit by this financial downturn and sputtering economy. It's about people who look to and depend on their government in a time of crisis.

It's about people who are the faces of foreclosure, such as Mildred Howell of Illinois, a 69-year-old widow and mother of three. Mildred and her husband worked all of their lives and nearly paid off the modest home they purchased in 1969. But then, in 2003, tragedy struck: Her husband, a retired police officer, was robbed and beaten to death.

Needing money to meet expenses, she sought a reverse mortgage. Instead, a mortgage company steered her into refinancing her home with an adjustable-rate loan that quickly ballooned and left her broke and nearly homeless. Mildred was able to save her home only after going back to work and finding a "moral Realtor" who is helping to refinance her home at a fixed, affordable rate.Indeed, the financial institutions need help. But so does Mildred Howell and the millions of other Mildred Howells throughout the country -- the real victims of this financial crisis. This bailout must not leave them in financial straits. Therefore, the rescue plan should provide direct safeguards and assistance to homeowners, by doing the following:

• Imposing a national, short-term freeze or moratorium on all foreclosures of owner-occupied primary residences

[sgrcltpunk]

[vfast]

Woman, 90, shoots self inside foreclosed home - CNN.com

[whiteboycustom]

so is that why my 401k is down 500 bucks on top of however many of hundreds of dollars it hasnt raised in months

[PiggySmallz]

Originally Posted by whiteboycustom so is that why my 401k is down 500 bucks on top of however many of hundreds of dollars it hasnt raised in months

i wouldn't worry about a few hundred here and there...that can easily be fixed. What about the people who lost 100+k that have recently retired? That's scary

[vfast]

where'd the $$$ go?*L*

[Regency 2007]

Originally Posted by PiggySmallz i wouldn't worry about a few hundred here and there...that can easily be fixed. What about the people who lost 100+k that have recently retired? That's scary

yerp!

[Regency 2007]

Originally Posted by vfast where'd the $$$ go?*L*

Rosie ate it.

[PiggySmallz]

i don't think any of us really know what is going to come from this bill until the cash flows into the market...nothing any of us can do besides sit back and watch what happens

[vfast]

I have only made about 8.75% on my $$$$ so far this year

[PiggySmallz]

Originally Posted by vfast where'd the $$$ go?*L*

I always ask that question...but in reality I don't think that money ever existed. I think a lot of this was false capital...housing market going through the roof based on money that wasn't there. (people who accepted loans and couldn't pay them back)

[PiggySmallz]

Originally Posted by vfast I have only made about 8.75% on my $$$$ so far this year

i'd say you've done extremely well lol considering the average return of the market over time is 8%...and you made 8.75% in a down market