Massive financial bailout

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Posted by MrsKtoBe

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Posted by Kristina2009

I don't normally like to post my political opinions, etc. However, I think either way there is no easy answer. The bailout is not a great solution, and I have issues with goverenmental overregulations of the markets as well - but - with nothing done we will have long bad times ahead. I hope there is some bandage that can be put on.

I blame everyone - both the financial industry and people who live beyond their means and buy things they can't afford. Americans are too liberal with credit (from homes, to cars, to cards).

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I'm so glad you said this. Its not just about the CEOs selling mortgages for cheap, its about also about people not educating themselves before they borrow, defaulting and then blaming 'the man'.

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Ohhhh thats a huge problem. In all the other threads about this i blamed them too, some ppl dont agree with me but to buy a home that was out of your range was foolish.

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Posted by Espo22

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Posted by PROBM

this is not being passed bc the politics who voted against it are scared that they are not going to be reelected... meanwhile they are going to put us in a GREAT DEPRESSION!

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actually its the ceo's of the financial businesses that put us there. Its not governments responsibility to pay off their debts, this is not a socialist government. Its the mortgage business and financial institutions that put us in this situation.

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Its all thanks to greed, and while I agree its not the govt's responsiblity to help them out or ours to feed the fat cats after all their greed, something needs to be done because our economy is going into a recesion

the fact is that we are in this huge mess whose ever fault it is ,,,it doesnt matter anymore we now have to go into emergency mode!!!!


the goverment was created for this paticular reason , they need to do the right thing for the economy, RIGHT NOW!

i know the media has portrayed this bailout as saftey net for the rich but being someone who works on wall street and very familar with the markets THIS IS going to trickle down to you and me , we need some plan and fast!!!

it is scarry....i mean right now they are waitting on what the lawmakers are going to do!!!.
i mean you girls are right...the economy is going under...it is going to affect a lot of people and businesses...and believe me this is not a good thing!!!!

On a scary note, im not sure if anyone else is going through this, but I have student loans and NO BANK will consolidate them (literally none). As of right now I'm going to have 21 payments a month HAHA I'm going to need a personal secretary. Scary!

even with really good credit you can not get a good loan right now this second .. probably over 10 percent !

everyone is terrified to loan money

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Posted by PROBM

the fact is that we are in this huge mess whose ever fault it is ,,,it doesnt matter anymore we now have to go into emergency mode!!!!


the goverment was created for this paticular reason , they need to do the right thing for the economy, RIGHT NOW!

i know the media has portrayed this bailout as saftey net for the rich but being someone who works on wall street and very familar with the markets THIS IS going to trickle down to you and me , we need some plan and fast!!!

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oh it has already trickled down to me, i have been out of work and it has been a nightmare finding something. I am about to go out of my mind. And the worse the market gets the harder it will be for me to find anything. The funny thing is RIGHT before this happened, i was supposed to go in for an interview at merrill lynch, yeah that didnt happen lol

My whole thing is that i am not sure if the plan would've even worked. I am scared dont get me wrong. I wasnt 100% for the bail out but at the same time thought that if they dont come up with a better plan then it needs to be done. Somebody spoke how this wont even help the problem. If i find it ill post it.

It is horrible and even scared to see what is going to happen right now.

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Posted by Kristina2009

I don't normally like to post my political opinions, etc. However, I think either way there is no easy answer. The bailout is not a great solution, and I have issues with goverenmental overregulations of the markets as well - but - with nothing done we will have long bad times ahead. I hope there is some bandage that can be put on.

I blame everyone - both the financial industry and people who live beyond their means and buy things they can't afford. Americans are too liberal with credit (from homes, to cars, to cards).

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you're absolutely right! banks lent money irresponsibly, and in accordance with a free market system, they deserve to go bankrupt for their abuse. americans borrowed irresponsibly, and they deserve to go into foreclosure for their abuse. govt officials irresponsibly pushed through legislation to remove market oversight, and they deserve to lose the election for their abuse. there's lots of blame to place, which is satisfying when you pay your mortgage on time or had the good sense to postpone buying bc you couldn't afford it yet (::raises hand::), but in the end, we all sink on the ship together.

if these companies go down, it's going to be like yanking from the bottom of a house of cards. you need a car, but you can't get a loan because the bank still needs to collect on a folding mortgage. the car company needs to sell the car, but they can't because of lack of credit. the car company lays people off bc sales are down. the rise in unemployment shuts down spending even more, and more large companies go out of business. more people get layed off. it's a terrible mess.

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Posted by PROBM

even with really good credit you can not get a good loan right now this second .. probably over 10 percent !

everyone is terrified to loan money

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OMG we JUST got approved a few weeks ago, thank god bc we have been waiting 7 months already for this and going insane. I said if it doesnt happen ASAP i am giving up but we really needed this.

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Posted by ELluvsMB

The only good thing from this is the housing market is going to drop big time.....so if you have good credit to get a mortgage it's a great time to buy!

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no not at all, its going to get worse. WIth the banks in trouble nobody is going to lend money. Even those with excellent credit wont be able to get a loan, who will you get a loan from if its the banks who are in trouble.

u think so..? my parents are looking to buy a house now.....
im kind of scared...right now!


i dont think they will lend

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Posted by aliska21

u think so..? my parents are looking to buy a house now.....
im kind of scared...right now!

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i know so, i have a quote sheet from citi right in front of me no one can get a loan right now , markets are freezed and shocked

Congrats Espo!!! Thats amazing. In this market you should be so proud

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Posted by aliska21

u think so..? my parents are looking to buy a house now.....
im kind of scared...right now!

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not that i think so but its a fact. This is what is going to happen. Think about it, its the banks in trouble, how are they going to be able to give loans. And not just with houses but school loans, cars and anything will be almost impossible to get right now.

ugh the market is taking a beating today

and i want a house, found one we love....but not sure what to do with this market, makes me nervous to buy something right now

that is IF we can even get a loan.....

but i would imagine banks woud still lend? how else are they going to make money?

you're absolutely right! banks lent money irresponsibly, and in accordance with a free market system, the deserve to go bankrupt for their abuse. americans borrowed irresponsibly, and they deserve to go into foreclosure for their abuse. govt officials irresponsibly pushed through legislation to remove market oversight, and they deserve to lose the election for their abuse. there's lots of blame to place, which is satisfying when you pay your mortgage on time or had the good sense to postpone buying bc you couldn't afford it yet (::raises hand::), but in the end, we all sink on the ship together.

if these companies go down, it's going to be like yanking from the bottom of a house of cards. you need a car, but you can't get a loan because the bank still needs to collect on a folding mortgage. the car company needs to sell the car, but they can't because of lack of credit. the car company lays people off bc sales are down. the rise in unemployment shuts down spending even more, and more large companies go out of business. more people get layed off. it's a terrible mess.

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thank you for the break down i started to write and kept editiing..

so scary!!!

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Posted by MrsKtoBe

Congrats Espo!!! Thats amazing. In this market you should be so proud

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Thank you, unfortunately we've been going through this since the beginning of the year and its bc of this market, its been horrible. WOW i guess we got so lucky bc we seriously got approved RIGHT before this all happened, it was still bad but right before it got even worse.

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Posted by PROBM

even with really good credit you can not get a good loan right now this second .. probably over 10 percent !

everyone is terrified to loan money

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It's true, 6 months ago FH and I were pre-qualified for a mortgage with a 5.75% interest rate... now we can't get one at all unless we want to pay a ridiculous interest.

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Posted by ELluvsMB

The only good thing from this is the housing market is going to drop big time.....so if you have good credit to get a mortgage it's a great time to buy!

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total opposite ... banks are not lending money at all! GL to getting a loan because everyone is being denied, even WITH good credit and if you arent deneid your rate will be like 10%, which is insane!