Did anyone else get scared....

I love that e-mail.

My analagy is that the economy is like a house of cards. People are on the bottom. Banks are the middle. AIG is at the top.

The bottom cards failed. The banks failed. It was only a matter of time before AIG came tumbling down. Our government want to pay billions to prop up AIG, but says 'screw you' to the rest of the cards that have toppled.

That plan is perfect. Give the money to the PEOPLE. Not to the corporations.

It does scare me a lot. It will out work out in the end. Hopefully, the bill gets passed tomorrow.

I was at the NKOTB concert so I missed what was said. But I am already scared regardless. I don't know whats going to happen but yesterday on the news they said there were 27 financial companies that the FBI were checking out, they want to know why this happened and it is bc of shady business they did. I think its time to make a temporary move out of the US, europe is sounding good right about now for a year or 2 and i seriously would if it wasnt for the fact that Dh just got a promotion that is great for him.

Sounds like a plan to me Denise. We were actually talking about this last night

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Posted by Songstress

Sounds like a plan to me Denise. We were actually talking about this last night

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OH dh says it all the time too, and he says he is serious. Its funny bc i always say 'but you cant bc of your job' its like i think about his job more than he does. If it does get to the point where they say we are in a depression, i am leaving temporarily.

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Posted by Espo22

and its disgusting that we are the ones who have to bail out these companies. THey do shady business, everyone knows this and the government knows this. They should've stepped in a long time ago, not wait until now when its hard to fix anything. They should also control this more. Yeah ill pay taxes for things that are necessary but to bail out greedy rich A**HOLES bc they had to make even more money is disgusting. People are losing their jobs left and right, prices are going up everywhere and its hard for people enough as it is, and now its like 'ok sorry but you have to pay for this'

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Exactly and this is why I bring socialism into this. I had someone bite my head off because I was saying there should be a way for eveyone to have healthcare and people scream SOCIALISM. But when were chosen to bail out a huge corporation no one is saying a thing. I guess its socialism when you try to help the little guy.

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Posted by Songstress

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Posted by Espo22

and its disgusting that we are the ones who have to bail out these companies. THey do shady business, everyone knows this and the government knows this. They should've stepped in a long time ago, not wait until now when its hard to fix anything. They should also control this more. Yeah ill pay taxes for things that are necessary but to bail out greedy rich A**HOLES bc they had to make even more money is disgusting. People are losing their jobs left and right, prices are going up everywhere and its hard for people enough as it is, and now its like 'ok sorry but you have to pay for this'

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Exactly and this is why I bring socialism into this. I had someone bite my head off because I was saying there should be a way for eveyone to have healthcare and people scream SOCIALISM. But when were chosen to bail out a huge corporation no one is saying a thing. I guess its socialism when you try to help the little guy.

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its BS thats what it is hahaha. These companies need to be monitored more, always should have. When it comes to us govt stocks they have the FED who regulates this and always checks up on the companies. Corporate stocks are known to be shady so they should have something for this too. Now theyre sending in the FBI? ok and whats that going to do, its at the point where its a disaster

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Posted by Espo22

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Posted by Songstress

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Posted by Espo22

and its disgusting that we are the ones who have to bail out these companies. THey do shady business, everyone knows this and the government knows this. They should've stepped in a long time ago, not wait until now when its hard to fix anything. They should also control this more. Yeah ill pay taxes for things that are necessary but to bail out greedy rich A**HOLES bc they had to make even more money is disgusting. People are losing their jobs left and right, prices are going up everywhere and its hard for people enough as it is, and now its like 'ok sorry but you have to pay for this'

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Exactly and this is why I bring socialism into this. I had someone bite my head off because I was saying there should be a way for eveyone to have healthcare and people scream SOCIALISM. But when were chosen to bail out a huge corporation no one is saying a thing. I guess its socialism when you try to help the little guy.

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its BS thats what it is hahaha. These companies need to be monitored more, always should have. When it comes to us govt stocks they have the FED who regulates this and always checks up on the companies. Corporate stocks are known to be shady so they should have something for this too. Now theyre sending in the FBI? ok and whats that going to do, its at the point where its a disaster

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Who's going to regulate businesses? President Bush is a business man as is Cheney and many other politicians. I don't think they are going to pass bills that won't benefit them.

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Posted by Autumn08

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Posted by Espo22

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Posted by Songstress

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Posted by Espo22

and its disgusting that we are the ones who have to bail out these companies. THey do shady business, everyone knows this and the government knows this. They should've stepped in a long time ago, not wait until now when its hard to fix anything. They should also control this more. Yeah ill pay taxes for things that are necessary but to bail out greedy rich A**HOLES bc they had to make even more money is disgusting. People are losing their jobs left and right, prices are going up everywhere and its hard for people enough as it is, and now its like 'ok sorry but you have to pay for this'

---

Exactly and this is why I bring socialism into this. I had someone bite my head off because I was saying there should be a way for eveyone to have healthcare and people scream SOCIALISM. But when were chosen to bail out a huge corporation no one is saying a thing. I guess its socialism when you try to help the little guy.

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its BS thats what it is hahaha. These companies need to be monitored more, always should have. When it comes to us govt stocks they have the FED who regulates this and always checks up on the companies. Corporate stocks are known to be shady so they should have something for this too. Now theyre sending in the FBI? ok and whats that going to do, its at the point where its a disaster

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Who's going to regulate businesses? President Bush is a business man as is Cheney and many other politicians. I don't think they are going to pass bills that won't benefit them.

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I think its always been known but they let it slide because others who are powerful are making money off of it so it was ok. For US treasuries stocks, there is a company that simply sets all the regulations and checks on them. At work i remember many times that paperwork had to be submitted to them and they do this regularly. They once came to the office and were there everyday for 2 weeks in a big room just filled with boxes and went over all the financials to make sure everything was being done right. With US government stocks you cant really do shady business. The same should be done for corporate stocks.

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Posted by Kristina2009

All that said, I really to fear for our banks and people's life savings. There is only so much in FDIC. I have no problem with people who live in houses they can't afford loosing their homes. I rent and I don't buy anything I can't pay for. It is the Americans who save that I am concerned for.

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The problem with those people who cant afford their homes is that they never quite understood what they were getting themselves into. While i know its not allof them, the ones who really didnt get it i feel bad for. Especially the chldren in those homes.

This is one big HUGE mess.

I fear for those people who may lose everything but i know we will bounce back.We have to. Unfortuantely it is us the tax payer that will be the ones footing the bill!

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Posted by VickiR510

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Posted by Kristina2009

All that said, I really to fear for our banks and people's life savings. There is only so much in FDIC. I have no problem with people who live in houses they can't afford loosing their homes. I rent and I don't buy anything I can't pay for. It is the Americans who save that I am concerned for.

---

The problem with those people who cant afford their homes is that they never quite understood what they were getting themselves into. While i know its not allof them, the ones who really didnt get it i feel bad for. Especially the chldren in those homes.

This is one big HUGE mess.

I fear for those people who may lose everything but i know we will bounce back.We have to. Unfortuantely it is us the tax payer that will be the ones footing the bill!

---

i blame some of the though. Maybe they didnt understand the depth of it but when it comes down to it, there were ppl buying homes with $4k mortgages a month when they knew they would not be able to afford that. Many ppl unfortunately don't think. They just saw houses they loved, were WAAAAAAAAY out of their budget and in their heads they came up with a way to pay for it. But this meant basically living paycheck to paycheck and forgetting that they have other bills and forgetting that in life things come up and you cant always expect things to go accordingly. There are couples who did this, they saw how high their mortgage would be a month and instead of looking at what they both make AFTER taxes and seeing that it would be hard to keep up with the mortgage payments, they convinced themselves they could do it. It bothers me so much actually, bc again greediness got us where we are now. If you see a house for lets say $850k but know you cant afford, dont come up with ways in your head that make you think you can. But now they had to have it

Before even looking at places, i had combined what dh and i make after taxes and said ok we are not going to pay over X amount a month, no matter what. And we didnt even look at places that were over that, no need. I wanted to make sure we have enough for the mortgage each month but then also have enough for all other bills and for anything that may come up. I was saying about half of what we make combined and even a little under half of what we make would be good.

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Posted by Espo22

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Posted by VickiR510

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Posted by Kristina2009

All that said, I really to fear for our banks and people's life savings. There is only so much in FDIC. I have no problem with people who live in houses they can't afford loosing their homes. I rent and I don't buy anything I can't pay for. It is the Americans who save that I am concerned for.

---

The problem with those people who cant afford their homes is that they never quite understood what they were getting themselves into. While i know its not allof them, the ones who really didnt get it i feel bad for. Especially the chldren in those homes.

This is one big HUGE mess.

I fear for those people who may lose everything but i know we will bounce back.We have to. Unfortuantely it is us the tax payer that will be the ones footing the bill!

---

i blame some of the though. Maybe they didnt understand the depth of it but when it comes down to it, there were ppl buying homes with $4k mortgages a month when they knew they would not be able to afford that. Many ppl unfortunately don't think. They just saw houses they loved, were WAAAAAAAAY out of their budget and in their heads they came up with a way to pay for it. But this meant basically living paycheck to paycheck and forgetting that they have other bills and forgetting that in life things come up and you cant always expect things to go accordingly. There are couples who did this, they saw how high their mortgage would be a month and instead of looking at what they both make AFTER taxes and seeing that it would be hard to keep up with the mortgage payments, they convinced themselves they could do it. It bothers me so much actually, bc again greediness got us where we are now. If you see a house for lets say $850k but know you cant afford, dont come up with ways in your head that make you think you can. But now they had to have it

Before even looking at places, i had combined what dh and i make after taxes and said ok we are not going to pay over X amount a month, no matter what. And we didnt even look at places that were over that, no need. I wanted to make sure we have enough for the mortgage each month but then also have enough for all other bills and for anything that may come up. I was saying about half of what we make combined and even a little under half of what we make would be good.

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I agree with you completely. And people will always make bad decisions but wasnt it up to these huge corps to have regulations on this kind of thing and NOT lend the money out??

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Posted by Songstress

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Posted by Espo22

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Posted by VickiR510

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Posted by Kristina2009

All that said, I really to fear for our banks and people's life savings. There is only so much in FDIC. I have no problem with people who live in houses they can't afford loosing their homes. I rent and I don't buy anything I can't pay for. It is the Americans who save that I am concerned for.

---

The problem with those people who cant afford their homes is that they never quite understood what they were getting themselves into. While i know its not allof them, the ones who really didnt get it i feel bad for. Especially the chldren in those homes.

This is one big HUGE mess.

I fear for those people who may lose everything but i know we will bounce back.We have to. Unfortuantely it is us the tax payer that will be the ones footing the bill!

---

i blame some of the though. Maybe they didnt understand the depth of it but when it comes down to it, there were ppl buying homes with $4k mortgages a month when they knew they would not be able to afford that. Many ppl unfortunately don't think. They just saw houses they loved, were WAAAAAAAAY out of their budget and in their heads they came up with a way to pay for it. But this meant basically living paycheck to paycheck and forgetting that they have other bills and forgetting that in life things come up and you cant always expect things to go accordingly. There are couples who did this, they saw how high their mortgage would be a month and instead of looking at what they both make AFTER taxes and seeing that it would be hard to keep up with the mortgage payments, they convinced themselves they could do it. It bothers me so much actually, bc again greediness got us where we are now. If you see a house for lets say $850k but know you cant afford, dont come up with ways in your head that make you think you can. But now they had to have it

Before even looking at places, i had combined what dh and i make after taxes and said ok we are not going to pay over X amount a month, no matter what. And we didnt even look at places that were over that, no need. I wanted to make sure we have enough for the mortgage each month but then also have enough for all other bills and for anything that may come up. I was saying about half of what we make combined and even a little under half of what we make would be good.

---

I agree with you completely. And people will always make bad decisions but wasnt it up to these huge corps to have regulations on this kind of thing and NOT lend the money out??

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they didnt care, all they cared about was getting a deal. They used to do whatever to make sure the loan goes through. They didnt care as long as they got paid. Ive had some say how they would think a couple was crazy but seems like most of them still gave those couples loans.

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Posted by Espo22

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Posted by Songstress

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Posted by Espo22

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Posted by VickiR510

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Posted by Kristina2009

All that said, I really to fear for our banks and people's life savings. There is only so much in FDIC. I have no problem with people who live in houses they can't afford loosing their homes. I rent and I don't buy anything I can't pay for. It is the Americans who save that I am concerned for.

---

The problem with those people who cant afford their homes is that they never quite understood what they were getting themselves into. While i know its not allof them, the ones who really didnt get it i feel bad for. Especially the chldren in those homes.

This is one big HUGE mess.

I fear for those people who may lose everything but i know we will bounce back.We have to. Unfortuantely it is us the tax payer that will be the ones footing the bill!

---

i blame some of the though. Maybe they didnt understand the depth of it but when it comes down to it, there were ppl buying homes with $4k mortgages a month when they knew they would not be able to afford that. Many ppl unfortunately don't think. They just saw houses they loved, were WAAAAAAAAY out of their budget and in their heads they came up with a way to pay for it. But this meant basically living paycheck to paycheck and forgetting that they have other bills and forgetting that in life things come up and you cant always expect things to go accordingly. There are couples who did this, they saw how high their mortgage would be a month and instead of looking at what they both make AFTER taxes and seeing that it would be hard to keep up with the mortgage payments, they convinced themselves they could do it. It bothers me so much actually, bc again greediness got us where we are now. If you see a house for lets say $850k but know you cant afford, dont come up with ways in your head that make you think you can. But now they had to have it

Before even looking at places, i had combined what dh and i make after taxes and said ok we are not going to pay over X amount a month, no matter what. And we didnt even look at places that were over that, no need. I wanted to make sure we have enough for the mortgage each month but then also have enough for all other bills and for anything that may come up. I was saying about half of what we make combined and even a little under half of what we make would be good.

---

I agree with you completely. And people will always make bad decisions but wasnt it up to these huge corps to have regulations on this kind of thing and NOT lend the money out??

---

they didnt care, all they cared about was getting a deal. They used to do whatever to make sure the loan goes through. They didnt care as long as they got paid. Ive had some say how they would think a couple was crazy but seems like most of them still gave those couples loans.

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Yup and thats where they went wrong. years of this mismanagement has put us here. I bet there were those few couples who inquired about whether they would be able to afford this and were COAXED into their mortgage by some sleezebag who told them it was possible so they could secure their deal. And thats what pisses me off about the BAILOUT. Were basically rewarding them for this behavior. Its ridiculous and a slap in the face for those people who were responsible.

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Posted by Songstress

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Posted by Espo22

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Posted by Songstress

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Posted by Espo22

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Posted by VickiR510

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Posted by Kristina2009

All that said, I really to fear for our banks and people's life savings. There is only so much in FDIC. I have no problem with people who live in houses they can't afford loosing their homes. I rent and I don't buy anything I can't pay for. It is the Americans who save that I am concerned for.

---

The problem with those people who cant afford their homes is that they never quite understood what they were getting themselves into. While i know its not allof them, the ones who really didnt get it i feel bad for. Especially the chldren in those homes.

This is one big HUGE mess.

I fear for those people who may lose everything but i know we will bounce back.We have to. Unfortuantely it is us the tax payer that will be the ones footing the bill!

---

i blame some of the though. Maybe they didnt understand the depth of it but when it comes down to it, there were ppl buying homes with $4k mortgages a month when they knew they would not be able to afford that. Many ppl unfortunately don't think. They just saw houses they loved, were WAAAAAAAAY out of their budget and in their heads they came up with a way to pay for it. But this meant basically living paycheck to paycheck and forgetting that they have other bills and forgetting that in life things come up and you cant always expect things to go accordingly. There are couples who did this, they saw how high their mortgage would be a month and instead of looking at what they both make AFTER taxes and seeing that it would be hard to keep up with the mortgage payments, they convinced themselves they could do it. It bothers me so much actually, bc again greediness got us where we are now. If you see a house for lets say $850k but know you cant afford, dont come up with ways in your head that make you think you can. But now they had to have it

Before even looking at places, i had combined what dh and i make after taxes and said ok we are not going to pay over X amount a month, no matter what. And we didnt even look at places that were over that, no need. I wanted to make sure we have enough for the mortgage each month but then also have enough for all other bills and for anything that may come up. I was saying about half of what we make combined and even a little under half of what we make would be good.

---

I agree with you completely. And people will always make bad decisions but wasnt it up to these huge corps to have regulations on this kind of thing and NOT lend the money out??

---

they didnt care, all they cared about was getting a deal. They used to do whatever to make sure the loan goes through. They didnt care as long as they got paid. Ive had some say how they would think a couple was crazy but seems like most of them still gave those couples loans.

---

Yup and thats where they went wrong. years of this mismanagement has put us here. I bet there were those few couples who inquired about whether they would be able to afford this and were COAXED into their mortgage by some sleezebag who told them it was possible so they could secure their deal. And thats what pisses me off about the BAILOUT. Were basically rewarding them for this behavior. Its ridiculous and a slap in the face for those people who were responsible.

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oh yeah im sure that definitely happened. You had mortgage brokers who just wanted to close on the deal and would tell them what they wanted to hear. I am sure that if these mortgage brokers actually told couples 'listen you will not be able to afford this, you cant do it' then many wouldn't have done it. A broker should also tell you what you realistically can afford.

Spain keeps sounding better and better to me right about now

Spain does sound pretty tempting. If we moved there something tells me we'd never come home