I couldn't understand why the bill didn't pass the first time... then I started seeing articles all over CNN talking about the new "incentives" to get Republicans to pass it this time.

Then I started thinking... what caused the Republicans to NOT pass it the first time?

I found my answer: ACORN

Watch the video here:
http://theunionnews.blogspot.com/2008/10/h...ed-economy.html

ACORN is a special interest group (called an activist group on many sites) that pressures banks to give loans to low-income, high risk applicants. I definitely see a need for low-income families to have a home, but if it's abused, then we get the housing crisis we saw start years ago when families are loaned more than they can afford.

Oh, and Barack Obama trained ACORN employees? Wow...

People are so upset about $700B being spent to bail out these companies. We keep hearing promises of the government selling them back for a profit. Part of the reason the bill was voted against by so many Republicans, is because 20% of the profits recovered from the bailout were going to groups such as ACORN!! Why not use the profits to recover all the debt, and reduce the rest of our debt?! Wow.... I'm glad they didn't pass the bill.

 

I've been seeing ALOT of discussions where people are saying that Wall St should sink and the government should give the 700 Billion to the American population, so Americans can pay off all their debt.

I dont have much debt (just a mortgage and a couple of credit cards with very low balances), but I wouldnt mind having a nice check sent to me from a $700B pool of money. nana.gif

 

$700B wouldn't do ANYTHING if given to the people.

$700B divided among the 138 Million tax payers in the U.S. would be approx. $5,000 per person.
Now, if you think larger families should get more than those with no children, like the stimulus package, then you would divide it by the 300 million Americans, and come out to only $1,750 per person. That wouldn't even pay off my lowest monthly credit card statement over the last two years!

Oh, and I really hate the idea of taking my 401k money out of the stock market after I've already lost 20% this year. I'd prefer to wait til I recover my losses when it bounces back, THEN take my money and run.

Now let's wait for our lovely Canadian to contribute to this discussion. What wonderful things will she say about our country now?

 

I just find it ridiculous that everyone knew the economy was taking a sh!t well over a year ago. This all could have been prevented had the government put more focus on it, instead of spending what, eleventy billion on Iraq, or whatever ridiculous amount its up to by now.

In fact even until recently Bush insisted that everything is fine. He sent us (well, some of us) our piddly $600 checks and shooed us away. But the short sales and foreclosures kept increasing at an alarming rate, and it finally imploded. So now we the tax payers have to pay for some greedy Wall Street honchos, who in turn will not even get a slap on the wrist, but instead a nice payoff? No, I'm glad the plan failed, good for the House.

This video here pretty much sumps it up, it's the Representative from Toledo laying it out straight: http://www.youtube.com/watch?v=S27yitK32ds



LOL. Well, it would have more of an impact than those rebate checks. For one it would help my mom pay for half of her yearly taxes. Even $1,750 would make a huge difference to her right now.

Also, once again, as I've stated many times before, I'm not Canadian. I am a US citizen who resides in Canada. I just love how I get singled out because I seem to be the only one on here who doesn't agree with everything that's posted in regards to politics. At least I have an opinion, there are far too many people out there who could give a sh!t less, who are too ignorant or uninformed to even form an opinion.

 

aww.... TC, we say what we say cuz we love you. I love hearing your opinions, whether I agree with them or not.

I'm glad you try to stay informed, and form your own opinion... sometimes you even make me think a little harder. nana.gif

you're like my little sister whom I love to argue with and pick on

 

Well, I just don't appreciate being called a "draft dodger." I wear the fact that I am American on my sleeve. Everyone I meet that's one of the first things they know about me. And honestly, if it weren't for my husband and the amazing job opportunity I just scored, I would have been happy staying in NY.

 

If i didnt know any better i would say that this was to draw TC out hahah!!! Good to see shes back posting.

I just wish we didn't get ourselves into this position in the first place. Politics as we see it is cut and dry and easy to digest but when you start throwing large sum's of money around people do stupid stuff go WAY offtopic.gif , and the government suffers because people are trying to line their pockets.


If i were a small 1 man shop and i was having issues would anyone bail me out of my morgage or would the bank take my assets and sell them and move on?

 

No such thing as a female draft dodger, you don't have to register for selective service. wink1.gif

I like how they are attempting to bail out these companies. If it was me I would be getting calls every 10 minutes asking me to send my bill. Maybe we should all start calling them.

 

This "bailout" isn't about saving American banks. It's about bailing out foreign banks that invested in bad American banks. $600B of the $700B goes straight out of the US and to UK, Japanese, Chinese and Australian banks. Screw them. I hope the bill fails.

 

on a side note, I was in LA this past weekend and found myself in two walmarts. Both had banks inside of them that looked like a hole in the wall and were called Banco Popular and had a cheesy logo next to the name. Who in their right mind would bank with them? LOL

Maybe a local can fill me in? Is this a bank for illegals or something?