Massive financial bailout

I totally agree - blame to go around. What stinks is now both sides are like kids in a sandbox throwing sand and nothing is getting done. So frustrating. The media is worse. I feel like there is no one place that is fair. Especially in an Election year - it's like you need to go to foxnews.com and then to cnn.com and figure what you take as truth from both.

I do think things will settle down eventually and in the overall scheme of things, I hope everyone is able to enjoy the happy time that this SHOULD be for all of us.

WOW i am watching CNN, and one person was talking about how some people were asking about being able to use their atm cards. Her answer was actually 'we dont know yet' with assets being frozen who knows what will happen

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Posted by lauraandrob2009

I totally agree - blame to go around. What stinks is now both sides are like kids in a sandbox throwing sand and nothing is getting done. So frustrating. The media is worse. I feel like there is no one place that is fair. Especially in an Election year - it's like you need to go to foxnews.com and then to cnn.com and figure what you take as truth from both.

I do think things will settle down eventually and in the overall scheme of things, I hope everyone is able to enjoy the happy time that this SHOULD be for all of us.

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the one good thing about the bickering is that it forces them to come up with a better plan, hopefully . the administration came in at first with a proposal for a $700 billion blank check for paulson to do with as he pleases. the dem. fought for consideration of families in foreclosure, and then house rep. demanded that we treat it like an investment on behalf of the taxpayers that has a good chance at paying off in the end. if they keep fine-tuning, something will go through. the market will bounce back when a solution is in place. right now the market is reacting the nerves over a failed bill.

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Posted by beram63

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Posted by lauraandrob2009

I totally agree - blame to go around. What stinks is now both sides are like kids in a sandbox throwing sand and nothing is getting done. So frustrating. The media is worse. I feel like there is no one place that is fair. Especially in an Election year - it's like you need to go to foxnews.com and then to cnn.com and figure what you take as truth from both.

I do think things will settle down eventually and in the overall scheme of things, I hope everyone is able to enjoy the happy time that this SHOULD be for all of us.

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the one good thing about the bickering is that it forces them to come up with a better plan, hopefully . the administration came in at first with a proposal for a $700 billion blank check for paulson to do with as he pleases. the dem. fought for consideration of families in foreclosure, and then house rep. demanded that we treat it like an investment on behalf of the taxpayers that has a good chance at paying off in the end. if they keep fine-tuning, something will go through. the market will bounce back when a solution is in place. right now the market is reacting the nerves over a failed bill.

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some things definitely needed to be changed. At first they were saying taxpayers should give to help and then it was said that it will be more of an investment for us.

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Posted by Espo22

WOW i am watching CNN, and one person was talking about how some people were asking about being able to use their atm cards. Her answer was actually 'we dont know yet' with assets being frozen who knows what will happen

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Which bank?????

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Posted by Cacarina

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Posted by Espo22

WOW i am watching CNN, and one person was talking about how some people were asking about being able to use their atm cards. Her answer was actually 'we dont know yet' with assets being frozen who knows what will happen

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Which bank?????

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no bank in particular just in general. I think everyone is fine now i dont think this is going to happen. I was just surprised by the irresponsibility of her answer, bc if ppl werent planning to do so before then now theyre going to run and take money out which will make things worse

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Posted by Espo22

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Posted by Cacarina

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Posted by Espo22

WOW i am watching CNN, and one person was talking about how some people were asking about being able to use their atm cards. Her answer was actually 'we dont know yet' with assets being frozen who knows what will happen

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Which bank?????

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no bank in particular just in general. I think everyone is fine now i dont think this is going to happen. I was just surprised by the irresponsibility of her answer, bc if ppl werent planning to do so before then now theyre going to run and take money out which will make things worse

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I agree, very irresponsible!!!!

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Posted by Espo22

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Posted by Cacarina

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Posted by Espo22

WOW i am watching CNN, and one person was talking about how some people were asking about being able to use their atm cards. Her answer was actually 'we dont know yet' with assets being frozen who knows what will happen

---

Which bank?????

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no bank in particular just in general. I think everyone is fine now i dont think this is going to happen. I was just surprised by the irresponsibility of her answer, bc if ppl werent planning to do so before then now theyre going to run and take money out which will make things worse

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omg!!!!!!!!!!! thats soo scarry!!!!!

No need to panic about your bank account. As long as your bank has FDIC insurance, you are fine. Most banks, savings accounts do and you are protected up to $100,000. You can check to see if yours is at the following link:

http://www.fdic.gov/EDIE/

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Posted by lauraandrob2009

No need to panic about your bank account. As long as your bank has FDIC insurance, you are fine. Most banks, savings accounts do and you are protected up to $100,000. You can check to see if yours is at the following link:

http://www.fdic.gov/EDIE/

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Not to add to the madness, but it does take a LONG time for the FDIC to recover money. And in this case, the FDIC may not have enough for everyone if every single bank was the go under.

i want to move back home (Europe) now....ha ha well who knows how long things will be ok there....but seriously this is so messed up....and I feel so weird about wedding planning and I know I am being a baby but why does this have to happen when it is finaly my turn to be a

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Posted by simbaspaws

i want to move back home (Europe) now....ha ha well who knows how long things will be ok there....but seriously this is so messed up....and I feel so weird about wedding planning and I know I am being a baby but why does this have to happen when it is finaly my turn to be a

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Markets globally will fail as well for all the investing Foreign countries has done in American markets.

Actually Europe is experience some financial troubles of their own.. there are a bunch of similiar 'bail outs' happening across Europe. (much smaller in scale i believe) ... We are a global community now.. this is not just affecting the US.

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Posted by flairforfashion

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Posted by simbaspaws

i want to move back home (Europe) now....ha ha well who knows how long things will be ok there....but seriously this is so messed up....and I feel so weird about wedding planning and I know I am being a baby but why does this have to happen when it is finaly my turn to be a

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Markets globally will fail as well for all the investing Foreign countries has done in American markets.

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I know...I am just frustrated...and FH is out of a job and he might have some better opportunities abroad thats all arrghhh very nerve wrecking

This is a crappy situation our country is in, but I am for one happy that this bill did not pass. Correct me if I am wrong, but this bill was going to help banks who approved terrible mortgages for people they knew could not pay them back and got huge bonuses because of it. Why should we bail them out? Hey, if I bounce a check bc I cannot afford my car loan, will uncle sam send me a check??? Im thinking no.

Now you know they are going to work on a new bill, and I pray to God that they take into consideration the working middle class folks since the govt. for some reason is trying to squeeze us out. Why cant they take the bailout money be used for those struggling to pay their mortgages?? When people can pay their mortgages, wont that help the banks too??

I used to work in foreclosures and man it s u cked. I started seeing honest hard working people having their homes taken away. Its a scary world we are living in today. I mean my FH lost his job in May and hasnt found anything yet. A hard working guy who got his degree in Finance from Hofstra and has all his licenses is now at home watching CNN and MSNBC ripping his hair out. Its just not fair.

I'd be weary of listening to Nancy Pelosi without considering all the facts. Though he's made a lot of other bozo moves, the Bush admin did raise red flags about this situation on several occasions (you need to look beyond the liberal websites to see that info) starting in April 2001.
* The '02 budget request declares that the size of mortgage giants, Fannie Mae and Freddie Mac, is 'a potential problem' because financial trouble and either one of them could 'cause strong repercussions in financial markets.'
* In 2003, the White House warning about Fannie and Freddie was upgraded to a systemic risk that could spread beyond just the housing sector.
* In fall of '03, the Bush administration was pushing Congress hard to create a new federal agency to regulate and supervise Fannie and Freddie, both government-sponsored enterprises or GSEs.

Incidentily, pushback came from Dem Congressman Barney Frank who said 'Fannie Mae and Freddie Mac are not in crisis.' Frank said the federal government should be 'encouraging Fannie and Freddie to do more to get low-income families into homes', and he believed 'too many people had a sky-is-falling mentality. '

Also of note, Sen. John McCain co-sponsored legislation pushing for regulation, delivering a speech on the Senate floor in 2006. 'For years I have been concerned about the regulatory structure that governs Fannie Mae and Freddie Mac. And the sheer magnitude of these companies and the role they play in the housing market, the GSEs need to be reformed without delay.'

Again, the Iraq war expenses aren't helping and plenty of blame to go around but just be weary of both sides as they yap on tv - you can google sound bytes of all of these above that prove not everyone is being straightforward here.