View Poll Results: 3 choices what is yours?
For the bailout
15
17.65%
against the bailout
62
72.94%
don't understand the bailout
8
9.41%
Voters: 85. You may not vote on this poll
Bailout for or against?
09-30-2008, 02:47 PM
#11
Senior Member
Join Date: 01-10-2008
Location: NJ
Posts: 681
I have already tried to help bail out Wall St. I have forwarded all those emails from England & Nigeria that keep asking for my bank account number so they can deposit millions into my account to clear it for them. They usually promise to give me 20%. If everyone in America will do this, we can bail them out in no time.
No Way, No How, NO BAILOUT!
No Way, No How, NO BAILOUT!
09-30-2008, 04:33 PM
#12
Member
Join Date: 09-30-2008
Location: Tulsa, OK
Posts: 55
I don't agree with the bailout completely. However if they would handle it like SNL back in 87(i think) and if you remember the chrysler bailout. Loan them the money on conditions and interest due to be paid back in a certain time frame. And make certain people accountable.
09-30-2008, 04:48 PM
#13
Senior Member
Join Date: 01-31-2007
Location: New Hampsha
Posts: 2,479
I found this semi amusing I found on another website...like it or not, there will be some form of a bailout
Dear Wall Street,
Hi, this is the lobbyist for a group called The Taxpayers, Debtors, and Insured People of the United States. Now that we've rejected the first bailout plan, I'm sure that in the spirit of tough, free market capitalism, and spirited negotiations, you'll consider our second offer. Here are some terms that I'm SURE you will find reasonable:
1) We are willing to loan you money at a very low, introductory rate of 8.9%. If you are even one nanosecond late on your payment, your rate will go from 8.9% to 32.9% instantly. You will have no right to appeal this. The interest rate increase will be retroactive. None of this "but I mailed it out Friday" nonsense. We must get it, and the check must clear, for your payment to count. A reminder: transactions that occur after 2pm are not credited until the next business day, so be sure to make your payments before then.
2) If you are late on any of your other payments to your other creditors, your rate will also be spiked to 32.9%. I know it has nothing to do with us, but if you are late paying someone else, then OBVIOUSLY you are a bigger credit risk to us.
3) We will send you onerous terms and conditions 148,000,000 pages long in 6 point font. Of course, those terms can change on a whim, at any time, so we'll be sending you hourly updates to the contract, which we expect you to read and keep up with. Sorry, we will be the only ones that can amend the contract; you cannot.
4) You will have a predetermined credit line, and if you go over it by even $1, your interest rate will spike to 54.9%. Sorry, it's in the contract on page 109,209,392.
5) The bankruptcy laws have now changed. If you get into a bind, I'm afraid you won't find much sympathy; no more silly excuses will be accepted. We are going to have the titles to all of your buildings and physical assets put in our name, so when the inevitable time comes and you trip up, we'll simply take everything from you. There will be no court hearing.
6) We'll be conducting a background check, driving records check, drug test, and disease risk check of all of the top executives of your firm. After all, you're a riskier loan if you have any of those afflictions, aren't you? Well, if we find ANYTHING wrong, your interest rate will skyrocket, instantly, and without notice.
7) If your business is located in a "bad neighborhood", or a "poor city", or a "hurricane zone", or "flood plane", or "terrorist targeted city", as defined by us, we can raise your interest rates at any time, to any rate we choose.
For the last quarter century or so, you've imposed these terms, or some variation of them on us, when loaning us money or insuring us... arguing every single time that it's "necessary" and that these sorts of changes "will result in more profitable companies that will pass the savings along to consumers". Well, now that we're in the role of lender, and you're in the role of borrower, we're sure that you'll find these same terms fair.
Wall Street, prove the cynics wrong and accept our new plan. Prove to everyone that you're not the hypocrites that everyone thinks you are.
Best regards,
THE TAXPAYERS, DEBTORS, AND INSURED PEOPLES OF THE USA
Offer not valid in all 50 states. Terms, conditions, and interest rates subject to change at any time without notice. Borrower subject to intrusive credit, background, education, and criminal checks before issuance of loan. Upon any dispute, arbitration will be decided by someone tilted to rule in favor of taxpayers, and not by any indepedant or otherwise objective authority.
Goose
Dear Wall Street,
Hi, this is the lobbyist for a group called The Taxpayers, Debtors, and Insured People of the United States. Now that we've rejected the first bailout plan, I'm sure that in the spirit of tough, free market capitalism, and spirited negotiations, you'll consider our second offer. Here are some terms that I'm SURE you will find reasonable:
1) We are willing to loan you money at a very low, introductory rate of 8.9%. If you are even one nanosecond late on your payment, your rate will go from 8.9% to 32.9% instantly. You will have no right to appeal this. The interest rate increase will be retroactive. None of this "but I mailed it out Friday" nonsense. We must get it, and the check must clear, for your payment to count. A reminder: transactions that occur after 2pm are not credited until the next business day, so be sure to make your payments before then.
2) If you are late on any of your other payments to your other creditors, your rate will also be spiked to 32.9%. I know it has nothing to do with us, but if you are late paying someone else, then OBVIOUSLY you are a bigger credit risk to us.
3) We will send you onerous terms and conditions 148,000,000 pages long in 6 point font. Of course, those terms can change on a whim, at any time, so we'll be sending you hourly updates to the contract, which we expect you to read and keep up with. Sorry, we will be the only ones that can amend the contract; you cannot.
4) You will have a predetermined credit line, and if you go over it by even $1, your interest rate will spike to 54.9%. Sorry, it's in the contract on page 109,209,392.
5) The bankruptcy laws have now changed. If you get into a bind, I'm afraid you won't find much sympathy; no more silly excuses will be accepted. We are going to have the titles to all of your buildings and physical assets put in our name, so when the inevitable time comes and you trip up, we'll simply take everything from you. There will be no court hearing.
6) We'll be conducting a background check, driving records check, drug test, and disease risk check of all of the top executives of your firm. After all, you're a riskier loan if you have any of those afflictions, aren't you? Well, if we find ANYTHING wrong, your interest rate will skyrocket, instantly, and without notice.
7) If your business is located in a "bad neighborhood", or a "poor city", or a "hurricane zone", or "flood plane", or "terrorist targeted city", as defined by us, we can raise your interest rates at any time, to any rate we choose.
For the last quarter century or so, you've imposed these terms, or some variation of them on us, when loaning us money or insuring us... arguing every single time that it's "necessary" and that these sorts of changes "will result in more profitable companies that will pass the savings along to consumers". Well, now that we're in the role of lender, and you're in the role of borrower, we're sure that you'll find these same terms fair.
Wall Street, prove the cynics wrong and accept our new plan. Prove to everyone that you're not the hypocrites that everyone thinks you are.
Best regards,
THE TAXPAYERS, DEBTORS, AND INSURED PEOPLES OF THE USA
Offer not valid in all 50 states. Terms, conditions, and interest rates subject to change at any time without notice. Borrower subject to intrusive credit, background, education, and criminal checks before issuance of loan. Upon any dispute, arbitration will be decided by someone tilted to rule in favor of taxpayers, and not by any indepedant or otherwise objective authority.
Goose
09-30-2008, 04:53 PM
#14
Senior Member
Join Date: 12-28-2005
Location: Worcester County, MA
Posts: 2,531
Am I for it? Hell no. Do I have a choice? Probably not. The bastards who created this problem are the same ones who drive oil prices up, sit back, and reap the profits. If it wasn't for the fact that so many blue collar pension funds are driven by stocks (mine included), I would stand in front of the White House and tell GW and company to shove it.
BTW - My mother, God rest her soul, used to tell me that every now and then you need a war to pick the economy back up. Of course she put radium on watch dials at Waltham Watch for the soldiers fighting in WWII. We've been fighting for years now and everything has gotten worse.
BTW - My mother, God rest her soul, used to tell me that every now and then you need a war to pick the economy back up. Of course she put radium on watch dials at Waltham Watch for the soldiers fighting in WWII. We've been fighting for years now and everything has gotten worse.
09-30-2008, 05:14 PM
#15
Senior Member
Join Date: 06-29-2008
Location: Crystal Lake
Posts: 839
Noboy bailed anyone out 5yrs ago when all hell broke lose, Why should the American people big up the tab, For People not knowing how to spend and Banks for giving money out to people they knew couldnt afford what they wanted but gave it to them anyway.
Only thing on the bailout i agree with is the CEO's should not be walking about with 15 million like Enron. That **** needs to stop. CEO's Walk away with Millions everyone else gets a pink slip and told to go file unemployment.
Only thing on the bailout i agree with is the CEO's should not be walking about with 15 million like Enron. That **** needs to stop. CEO's Walk away with Millions everyone else gets a pink slip and told to go file unemployment.
09-30-2008, 05:24 PM
#16
Founding Member
Thread Starter
Join Date: 11-23-2007
Location: Texas
Posts: 8,210
I feel that I live in the greatest country on the planet. No offense to other members not residing in the USA. I hope you think the same of your country.
But I believe we will get through this without throwing money at this fire. Sure there will be some problems, but we always find a way of fixing them, if not with the current politicians then it will be with the next group WE vote in.
As we watched the news last night at my house my 17 year old son summed it all up for me. The newcaster was talking of all the global markets falling, failing and crashing due to the problems with our (USA) lending system. He asked my why this happened and I tried to explain that the Global Economy is all connected by these stock markets in each country which invest in the USA just as we invest in their markets.
He said: "Dad, we (the United States) are so BAD, that when we suck the world sucks! Now you just don't get any greater than that!"
But I believe we will get through this without throwing money at this fire. Sure there will be some problems, but we always find a way of fixing them, if not with the current politicians then it will be with the next group WE vote in.
As we watched the news last night at my house my 17 year old son summed it all up for me. The newcaster was talking of all the global markets falling, failing and crashing due to the problems with our (USA) lending system. He asked my why this happened and I tried to explain that the Global Economy is all connected by these stock markets in each country which invest in the USA just as we invest in their markets.
He said: "Dad, we (the United States) are so BAD, that when we suck the world sucks! Now you just don't get any greater than that!"
09-30-2008, 05:38 PM
#17
Senior Member
Join Date: 07-17-2008
Location: marine city,michigan
Posts: 195
many of you make great points. I don't want to pay for others mistakes. The problem is those of us that have outstanding credit scores (750+) are going to pay for this with higher interest rates or told we don't qualify for loans. I worked hard to get my score that high.I lost my job last year and didn't file for bankruptcy or default on my mortgage. Those that defaulted ruined their credit and helped put us in this situation, they wont be getting loans from banks for awhile. So the banks aren't lending money so the cash stops flowing. jobs are lost because businesses cut as much as they can so that they can survive. this keeps getting worse with no end in site. We as consumers will still pay in the end with higher interest rates, higher cost for all goods and services because they just pass the costs on to us. is this bailout the perfect solution? maybe not but if the market is any indication we need this to pass or we could see more large losses like monday. when the market hears that it will pass it goes up. maybe this is what we need to end the crisis. just my 2 cents.
09-30-2008, 06:29 PM
#18
Senior Member
Join Date: 05-04-2008
Location: Stockton,CA
Posts: 295
Hell no let suffer like the rest of us.Nobody offed to bail me out I have taken about a $35,000 loss of pay this year due to being in construction and the huge slow down of home buying in CA oh ya and my company may be going under in the next month or so. Now in in over my head due to loss of income my savings is gone I have been charging my house payment now my cards are over the limit and I am paying interest out of my A hole. So now what do I do go bankrupt or saw off my shotgun so I dont have to pull the trigger with my toe. lol(kidding I would never harm a fire arm) I cant get any offers for a bail out. Hell I cant even afford to play the Lottery to try and get rich. So all those rich basterds getting bailed out can kiss my ass right in the crack(with tongue)
09-30-2008, 06:46 PM
#19
New Member
Join Date: 07-15-2008
Location: AZ
Posts: 12
Lets make sure we get the right "rich Guys" The one that RAN Fanny and Freddy into the dirt by making it look like they were doing a great job and as a result got BONUSES BIG Bonuses, and now they want to be advisors for the recovery?
Why? So they can cover their own tracks?
It's not all investors.
Why? So they can cover their own tracks?
It's not all investors.
