The "Economy"

[About2Bite]

What's your guys take on the whole situation?

I don't know, but I sure don't think this bailout is going to do much good other than delaying what we are in for.

Stock market down another 350 points today

[Mr. Austin]

Honestly our classes have been keeping up on it.. were going to take a dump.

[BurnTire]

The bailout is B.S.

The financially responsible citizens are going to pay for others mistakes.

It is total B.S.

I say let all troubled companies go under and let the system correct it self.

This is a band-aid being pushed by Moron Bush.

[Jacostang]

call your congressman and senators even thouhg they dont ansewr and tell the its a bunch of crap! Let it do what its going to do and keep the government out of it.. Socialism here we come and its only the start.

Taxpayers revolt!!!!!!!!!!!!

[Mr. Austin]

+1!!

[About2Bite]

I agree, and it seems as though the majority of people agree as well. These banks saw an opportunity to give out money to people who could not afford it in hope of making some money off them.

I just don't want to be the one paying for these peoples mistakes.

So did they pass this bailout plan? If so how much did we end up giving these companies?

[mntony]

What about personal responsibility??? Everyone talks about the banks (yes they are half the problem) but nobody talks about the people that borrowed that money, walked away from the home and payments scott free! I personally know what I can afford and what I can't. Otherwise I'd have a really bitchin car and I just wouldn't pay off the credit cards! The borrowers are just as much at fault. And anyone that can't understand what an adjustable rate mortgage is and how they work shouldn't be mortgaging a home to begin with! Bring back debtors prison!!! <---that part is sarcasm

[BurnTire]

I agree if you are too stupid to figure out what an adjustable rate mortgage is you shouldn't have a home. If you can afford the teaser rate, but not the adjustable rate you not sign on the dotted line.

[AZ-GT]

You might want to watch this video if it is still up. "Burning Down the House"

YouTube - Burning Down the House - What Caused Our Economic Crisis (http://www.youtube.com/watch?v=GIVvvoDbCV0)

[About2Bite]

What about personal responsibility??? Everyone talks about the banks (yes they are half the problem) but nobody talks about the people that borrowed that money, walked away from the home and payments scott free! I personally know what I can afford and what I can't. Otherwise I'd have a really bitchin car and I just wouldn't pay off the credit cards! The borrowers are just as much at fault. And anyone that can't understand what an adjustable rate mortgage is and how they work shouldn't be mortgaging a home to begin with! Bring back debtors prison!!! <---that part is sarcasm

As much as personal responsibility plays a role in it, if the banks would not have given these loans to people who were not deserving of them this would not have happened.... Well probably wouldn't have. Most people, if given the opportunity to, would invest in a home. Why? Because most look at them as their future. Now, I agree they should have looked into what a NINA loan was and though about what could potentially happen by agreeing to a interest only loan, but the banks imo were the greedy ones here. How smart is it to give $200,000+ to someone with a 650 credit score? Not to mention with nothing down, a 100% loan. Come on now, I wouldn't even loan 50 bucks to some of the people who I know would have been approved for a home (And some of whom did and are in the situation that put us here). These banks figured they could make some money off of these people and did, until it came back to bite them in the ass.

I don't think this bail out is helping these people who currrently can't afford their homes is it? No, it's helping these banks who have all these houses nobody can afford. Now that they have seen the consequences of this try and get a loan? Doubt now it'll be too easy if you have a 650 credit score.

Now we have to pay for their mistakes, wonderful.... Where the hell are we going to get 700,000,000,000 dollars from? And we wonder why the dollar isn't worth anthing anymore.

I also doubt this is going to do anything but buy us some time

[About2Bite]

We had morons who couldn't afford a car if their lives depended on it, and I highly doubt even understood what a loan or interest rate was, try to buy cars at the dealership I worked at and it was the banks job to know who was a moron and who wasn't

[ThePunisher95]

We had morons who couldn't afford a car if their lives depended on it, and I highly doubt even understood what a loan or interest rate was, try to buy cars at the dealership I worked at and it was the banks job to know who was a moron and who wasn't
+1...

[ThePunisher95]

My 02cents blains the banks at fault for loaning the money. If u had someone come up 2 and ask 2 borrow 1000 bucks, and he promised to pay u in a month. The problem is the guy only makes 700 bucks a month. How do u expect to get ur money? I would slap u in the face for being stupid lol! Cuz Im sure as hell he is not gonna starve to pay u back, or decide to walk 2 save on gas.

[Mr. Austin]

But ok im not trying to start anything! ok dont get the wrong idea and i dont understand this as well as you guys so Deep breath before you respond tehe :P Aas bush is not the most ideal president and neither are the canidates right now what if time is all their looking for? One of the reasons bushes bill didnt pass was because the congress felt pressured ad didnt have time to "revise." BUT time is what we do need right now. Political parties have been formed and approved and are sponsored by people of our government and all this has happened in the past MONTH People have seen this coming for sometime but yet we all procrastinated. just like high school dont we all wish we could get another week before the test because we procrastinated??!?? Now here is the REAL QUESTION.......now that they have bought sometime are they smart enough to figure out they need to study and use this time wisely. In other words will they use this time to find a better bill and put it in better detail to help the FREE in America and use this time to give it to the house Who needs to start Presenting the people better A head of time.

[About2Bite]

But ok im not trying to start anything! ok dont get the wrong idea and i dont understand this as well as you guys so Deep breath before you respond tehe :P Aas bush is not the most ideal president and neither are the canidates right now what if time is all their looking for? One of the reasons bushes bill didnt pass was because the congress felt pressured ad didnt have time to \"revise.\" BUT time is what we do need right now. Political parties have been formed and approved and are sponsored by people of our government and all this has happened in the past MONTH People have seen this coming for sometime but yet we all procrastinated. just like high school dont we all wish we could get another week before the test because we procrastinated??!?? Now here is the REAL QUESTION.......now that they have bought sometime are they smart enough to figure out they need to study and use this time wisely. In other words will they use this time to find a better bill and put it in better detail to help the FREE in America and use this time to give it to the house Who needs to start Presenting the people better A head of time.

As much as I hear where you are coming from I don't think anything but time can fix the situation we are in. Too much government intervention is not a good thing and trying to buy time is just going to make the situation worse imo.

I just hope we don't spend more $$ bailing out these mistakes.

Maybe this is what we need to keep people from spending tons of money they don't have, and possibly won't have. Gotta love credt :pinkthumb:

Hey maybe I should buy some cams on my AMEX, I can just pay 15 bucks a month for the next 20 years... But at least I'll have some cams!

[Jacostang]

Here is that should piss all of us off...

If they gave that 700+ Billion to us it would mean a check to every us citizen 18 and over for about $350,000 now give it to us we will pay off our homes buy alot of stuff and get it going again.

[About2Bite]

Actually it would be like 400 dollars

[Mr. Austin]

Better then A - number still

[1966PonyGirl]

jaco, i makes me sick more then pissed.

350,000......400..... either way, i wish i could vote to KEEP my tax money. not to give it to the screw ups that bought the houses. It seems that with all the letters written to your congress-folk, they still passed this. it was inevitable.

[Mr. Austin]

What truly pisses me off is that the ones that are making the choice for us have nothing to worry about because they are getting paid huge bucks. i bet they didnt even think about their lives going to poverty when they made this decision. they need to have a vote with three choices on it. honestly right now no one will behappy someone is always going to bitch but its still the fact that they are trying to whats bet for their money they the have. and since they have this money they dont give a shit about the rest of us...IMO

[About2Bite]

Not much that can be done
I guess we just sit and wait, hopefully my position where I work is not removed.

Maybe I should change my major to something that isn't so affected by the economy.

Maybe I should invest in the stock market once this settles down? I wonder what kind of profits can be made, it went down again... Over 150 points

350,000 dollars and 400 is a huge difference, while I don't want to pay for this bs I would be a lot more upset if they took 350k out of our pockets.

[Jacostang]

I was wrong or at least one of my friends were he said the math was right and now I know its only $400 maybe my friend works for the government! Still all in all is complete BS we have to get these idiots out of there before were all speaking chinese!!

[Bandit]

Bu4 Xi3 huan5! (me not like)

[About2Bite]

What is up with the stock market, it went down over 600 points already today. Think interest rates will drop?

[1966PonyGirl]

lets look on the sarcastic positive side! we are setting new records! woo hoo! who wants to be different and jump of the Abu Dhabi owned Chrysler Building???

[About2Bite]

lets look on the sarcastic positive side! we are setting new records! woo hoo! who wants to be different and jump of the Abu Dhabi owned Chrysler Building???

Idk but I'm thinking about buying circuit city... Like the whole company :laughing: