Throwing good money after bad?

Rave · 11-26-2008, 08:13 AM

The gummint is dumping an additional $800,000,000,000.00 in to the banking industry,but the banks aren't lending.

AllAlaskan · 11-26-2008, 08:16 AM

cause they are morons thats why lol Greedy lil (insert word here)s

SwedeSteve · 11-26-2008, 09:59 AM

We should see lending start to open up a little here in December.

nathangdad · 11-26-2008, 11:36 AM

assets on the balance sheet to keep value for the rich investors in the bank's stock.

The bailout is for the rich who donate and help the Democrat and Republican parties. Wake up people - you know this is the truth.

Cyrano · 11-26-2008, 11:42 AM

What the yankee gummint needs to do is bitch-slap the banks and the credit card companies. The feds could go a long way toward solving the housing market crisis and the credit card crisis by doing the following:

1. Require the banks that issued those evil adjustable rate mortgages and no money down mortgages to, at their expense, refinance all of them to 30 year fixed rate mortgages at 8% with no refinancing by the homeowner allowed for at least 3 years. That punishes both the banks for their greed while allowing them to make some profits; and punishes the homeowners for their stupidity while allowing them to keep their homes. Make this applicable to primary homes ONLY. I do not care if the fatcats lose their second homes in the Bahamas, or the ski chalet in Jackson Hole, or the investment mansion they bought in the Hamptons or wherever.

Note that the current 30 year mortgage rate is about 5.5%, which is why I can say what I did.

2. By federal order, cap all credit card interest rates at 12% and forbid the credit card companies from pulling nonsense like adjusting the due dates without warning. Allow the credit card companies to adjust the due dates no oftener than once every six months, and require them to put it in big (like 14 point bold type) black letters at the top of the credit card statement for two months before the adjustment takes place. This might give the people drowning in credit card debt a chance to climb out of their hole without having to file for bankruptcy.

It is way past time that the jackasses in Washington were forcibly reminded that their job is to serve THE PEOPLE, not their campaign contributors and Big Business in all its myriad forms.

Rave · 11-26-2008, 03:50 PM

There are folks that always win,many of them own banks.
It seems that the money was given to the banks in part to help those about to loose there homes,etc.
Now the banks say they will not make any loans unless the applicant is credit worthy,good credit and no financial problems.
Just who is running the show,hmmmm,apparently not the elected gummint,perhaps a bit higher up the food chain?

11-26-2008, 08:13 AM	#1
Rave Senior Member Join Date: Mar 2002 Location: Tampa Posts: 8,435	Throwing good money after bad? The gummint is dumping an additional $800,000,000,000.00 in to the banking industry,but the banks aren't lending. __________________ Better days are comeing! .

11-26-2008, 08:16 AM	#2
AllAlaskan Senior Member Join Date: Sep 2008 Location: In HOT North East Texas Missing COLD South Central Alaska Posts: 1,553	cause they are morons thats why lol Greedy lil (insert word here)s __________________ Charlie The *Crazy* Alaskan

11-26-2008, 09:59 AM	#3
SwedeSteve Suspected Member Join Date: Feb 2007 Location: Anchortown, Alaska Posts: 23,576 Images: 1	We should see lending start to open up a little here in December. __________________ Thank God we don't get as much Government as we pay for! -Will Rogers

11-26-2008, 11:36 AM	#4
nathangdad Senior Member Join Date: Nov 2007 Posts: 5,172	They are using the bailout money to short up their assets on the balance sheet to keep value for the rich investors in the bank's stock. The bailout is for the rich who donate and help the Democrat and Republican parties. Wake up people - you know this is the truth.

11-26-2008, 11:42 AM	#5
Cyrano Senior Member Join Date: Oct 2007 Location: New York Posts: 6,928	What the yankee gummint needs to do is bitch-slap the banks and the credit card companies. The feds could go a long way toward solving the housing market crisis and the credit card crisis by doing the following: 1. Require the banks that issued those evil adjustable rate mortgages and no money down mortgages to, at their expense, refinance all of them to 30 year fixed rate mortgages at 8% with no refinancing by the homeowner allowed for at least 3 years. That punishes both the banks for their greed while allowing them to make some profits; and punishes the homeowners for their stupidity while allowing them to keep their homes. Make this applicable to primary homes ONLY. I do not care if the fatcats lose their second homes in the Bahamas, or the ski chalet in Jackson Hole, or the investment mansion they bought in the Hamptons or wherever. Note that the current 30 year mortgage rate is about 5.5%, which is why I can say what I did. 2. By federal order, cap all credit card interest rates at 12% and forbid the credit card companies from pulling nonsense like adjusting the due dates without warning. Allow the credit card companies to adjust the due dates no oftener than once every six months, and require them to put it in big (like 14 point bold type) black letters at the top of the credit card statement for two months before the adjustment takes place. This might give the people drowning in credit card debt a chance to climb out of their hole without having to file for bankruptcy. It is way past time that the jackasses in Washington were forcibly reminded that their job is to serve THE PEOPLE, not their campaign contributors and Big Business in all its myriad forms. Last edited by Cyrano; 11-26-2008 at 11:44 AM. Reason: additional thoughts to clarify statements

11-26-2008, 03:50 PM	#6
Rave Senior Member Join Date: Mar 2002 Location: Tampa Posts: 8,435	There are folks that always win,many of them own banks. It seems that the money was given to the banks in part to help those about to loose there homes,etc. Now the banks say they will not make any loans unless the applicant is credit worthy,good credit and no financial problems. Just who is running the show,hmmmm,apparently not the elected gummint,perhaps a bit higher up the food chain? __________________ Better days are comeing! .