Bailout Money is Not Reaching to Housing Market as It Was Approved For »
Posted By altnrg 11 months, 4 weeks ago in News$700 billion federal bailout plan initially intended for foreclosures remediation diverted to buy shares from troubled banks and insurance companies.
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HomerJS49Comment removed: Abusive
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waynochris11 months, 4 weeks ago
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Of course the taxpayer is the fool AGAIN! The money was supposed to be given to troubled institutions so that they will lend the money to the average consumer in the form of mortgages, auto loans, personal loans, etc.thereby stimulating the economy via purchasing, homes, autos, etc. The institutions would be getting the money paid back with interest from the consumer, and that is whats done normally to get things back on track. Instead, the "troubled" institutions were given the money with no one overseeing how the money was spent. Thats why we read about corporate execs taking lavish vacations and they will get huge holiday bonuses all at the sucker taxpayers expense. BAH HUMBUG!! VOTE OUT YOUR CONGRESSIONAL LEADERS,THEY KNEW THERE WAS NO OVERSIGHT
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4thchance11 months, 3 weeks ago
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The reason it's not reaching the housing market is because 750 Billion was no where near enough of our money. We will need to dig MUCH deeper into our pockets to give them more handouts. I say, we (The Tax Payer) need to come up with something to the tune of around 10,000 TRILLION dollars to hand out to them. That way all these thieves among us will have more money then they would know what to do with. Just maybe then some of that money may go where it suppose to go! I still doubt it though....
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Ralph2bits11 months, 3 weeks ago
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“No money from me”. A call for Civil Disobedience now.
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The truth is we will not vote out our representatives in congress so we need to get their attention.
I feel certain that some of the bailout money we’re spending was necessary to promote the general welfare but now I am beginning to sense in my bones a feeding frenzy; pigs at a trough, gorging themselves on the future of my children, grandchildren and great grandchildren. This disturbs me very much and for their sake I want it to stop.
If you feel like me, then its time to draw a line in the sand. We draw the line on the bailout of our auto makers. We say “no”.
How do we get our representatives in the congress to hear us? We can trust that those in power listen to and follow the money. We use that trust.
We write our representatives in the House and simply say: “no money from me if you bailout the automotive companies.” “ I will file my federal tax returns as a law abiding citizen but I will not pay my federal taxes.”
If tens of millions of us good, decent citizens do this we can draw that line in the sand and get our leaders attention. Will the government prosecute tens of millions of us? No. Will some of us go to jail? Yes. That's the price of civil disobedience. I will go to jail to save my children’s and grandchildren's future.
Don’t get me wrong, I am very concerned about the health of our auto makers, particularly workers on the assembly line. But workers, owners, managers, vendors, and investors can work hard and make the tough decisions to save their company through Chapter 11 bankruptcy protection. They’ll say no they can’t, but that’s because there are billions on the table for them to take. Why work when you can take?
The billions left should go toward our infrastructure, energy self sufficiency, and education. Use our money to build not bailout.
What do you think?
If this makes sense to you share it with your network. Ask them what they think.
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potataload11 months, 4 weeks ago
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...hence, why are they bailing out the dealerships? They're going to claim Chapter 11 within the next few years.. I won't be surprised if the gvmt. bails $3 billion for Vegas after that. Fool me once, Im the fool. Fool me twice, you're the fool.
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HomerJS49Comment removed: Abusive
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starsekr11 months, 4 weeks ago
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I'd like to see HomerJS back that up with the names of the banks paying dividends, I'd take my 401K, oops I mean my 101K, and buy a piece of that!
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I know the election is over, so I'll just say this is the Bush administration doing business as usual, scream "the sky is falling" and whine until they get their way. They sold this to the American People as a buyback and a recertification of home mortgages, not proping up credit card and consumer finance companies.
Maybe what is needed is some serious reform in the banking industry, not the stock market.
And the Repubs want to use the fuel efficency money from last June to tide Detroit over, when there is enough left in the first 350 Billion to do the job nicely. Whats that money for if not to keep peoples homes out of foreclosure and people working so more homes don't go on the block? -
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starsekr11 months, 4 weeks ago
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I'd like to see HomerJS back that up with the names of the banks paying dividends, I'd take my 401K, oops I mean my 101K, and buy a piece of that!
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I know the election is over, so I'll just say this is the Bush administration doing business as usual, scream "the sky is falling" and whine until they get their way. They sold this to the American People as a buyback and a recertification of home mortgages, not proping up credit card and consumer finance companies.
Maybe what is needed is some serious reform in the banking industry, not the stock market.
And the Repubs want to use the fuel efficency money from last June to tide Detroit over, when there is enough left in the first 350 Billion to do the job nicely. Whats that money for if not to keep peoples homes out of foreclosure and people working so more homes don't go on the block?-
HomerJS49Comment removed: Abusive
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ellsworth-tooheyComment removed: Hard Banned4 Replies
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mjjapple11 months, 4 weeks ago
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Does this remind you of the Iraq vote? After 911 and the country was worried and afraid and most members of congress voted for the war powers act which gave Bush the power to go to war IF NEEDED TO PROTECT US and he just went to war for no good reason. Obama said Hillary voted for war, if I could have voted, I would not have voted to go to war.
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Well, Mr Obama you did vote for this bailout bill and now they are not spending the money the way they said they would. I guess anyone can be told a lie and believe it, even the president elect. Good judgement call huh? -
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purplehayes11 months, 4 weeks ago
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What this country needs is a Third Party - A People's Party - a Party that represents the interests of the People. The Democratic Party and Republican Party represent the interests of Capital not the interest of the average working man and woman. Our government is supposed to be of, by, and for the People, not special interests. Until we elect Representatives and Senators responsive to the needs of the People there will be no change. Democrats and Republicans are just different sides of the same coin.
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Justice4All11 months, 3 weeks ago
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I would have resented that 10 years ago. I was a republican for 30 years. But I switched parties in 2003. I don't care much for Democrats either, especially those like Hillary who voted to give Bush the power to go to war. But I have a lot of hope for Obama. I read his last book and was pretty impressed.
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Sludge-Guzzler11 months, 3 weeks ago
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Back in the 60's, there was a band known as the "FUGS". I know, using these guys to get a point across may not a very good idea but there was a line in one of their songs that struck me then and stayed with me when they were talking about lying Politicians.
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"Ya got some guy up there sayin' "For Gods sake, we got to stop havin' violence in this country"....while he's spending sixty thousand dollars a second....snuffing gooks."
"Wide Wide River (of Sh!t)", from the album "It Crawled Into My Hand, Honest" Fugs 1969 -
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Ralph2bits11 months, 3 weeks ago
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“No money from me”. A call for Civil Disobedience now.
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It is time to get the scum of the earth to rise up and listen to us. We don't have to trust their honesty to get them to listen we just have to trust that they will listen to money and go where the money goes.
I feel certain that some of the bailout money we’re spending was necessary to promote the general welfare but now I am beginning to sense in my bones a feeding frenzy; pigs at a trough, gorging themselves on the future of my children, grandchildren and great grandchildren. This disturbs me very much and for their sake I want it to stop.
If you feel like me, then its time to draw a line in the sand. We draw the line on the bailout of our auto makers. We say “no”.
How do we get our representatives in the congress to hear us? We can trust that those in power listen to and follow the money. We use that trust.
We write our representatives in the House and simply say: “no money from me if you bailout the automotive companies.” “ I will file my federal tax returns as a law abiding citizen but I will not pay my federal taxes.”
If tens of millions of us good, decent citizens do this we can draw that line in the sand and get our leaders attention. Will our government put tens of millions of us in jail? No. Will some of us go to jail? Yes, that's the price of civil disobedience. I'll pay that price for my childrens' and grandchildrens' future.
Don’t get me wrong, I am very concerned about the health of our auto makers, particularly workers on the assembly line. But workers, owners, managers, vendors, and investors can work hard and make the tough decisions to save their company through Chapter 11 bankruptcy protection. They’ll say no they can’t, but that’s because there are billions on the table for them to take. Why work when you can take?
The billions left should go toward our infrastructure, energy self sufficiency, and education. Use our money to build not bailout.
What do you think?
If this makes sense to you share it with your network. Ask them what they think.
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mspattollie11 months, 3 weeks ago
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My daughter was pre-approved for a home loan probably two months ago, found a home, paid all of the necessary inspections & she paid for the appraisal & NOW the lending institution seems to be stalling and looking for a reason NOT to give her the loan. What a joke that the lenders have money and want to give the loans when here is a hard working young lady, qualified for a loan and being played with this way. This is happening in Oklahoma.
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chrisy311 months, 3 weeks ago
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Its happening in the UK as well 2 rate drops totaling 2% and not one penny off my variable mortgage rate. They were really quick to put my mortgage up nearly £200 a month when it changed to variable so when will they put the rates down! They said they are looking into it.... how many months will we have to wait?
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http://www.house-selling-tips.info -
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orndorffter11 months, 3 weeks ago
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This story is correct,the economic crisis contiues to spread like a wild fire gettig out of controll.And many lifes are being affected by it.I'am afraid if the stress gets to bad, whats goihg to happen? here it is Thanksgiving and then Christmas. Men are going out everyday looking for jobs that are not there,and I'am afraid the stress well soon over come them.What are people going to do when they cant get help from the Goverment,and just a few cans of can goods, rice and no meat or anything else from the churches because they have gave what they had to others who got there frist? Unlike those who have the money to keep their homes, many people I have talked to tell me that they are striving to hold onto there homes and the deal with their morage has falling through and some how they are trying to move on and pick themselfs back up. Its hard one women told me, while trying to stay calm,but in her voice and words, playing off to be calm I could tell the burden on her sholders was waighing her down. Her husband lost his job and when the benifits for unemployment starts coming in they well be living off of $120 a week.They have became another victim of the jobless and home foreclosure.Them and thier other family members have talked of getting used lumber and building some homes on thier brothers farm maybe building anywhere from 2 or 2 1/2 rooms just to get by with, she said food was no problem because her husband and brothers and brother in laws can hunt food. But America should not have to live like this, are we not called the land of the plenty? But I guess our country is in so much trouble that they cant help their own now that we the Americans are in great need. What can we do to help I keep asking myself? Its going to take such a long time to bring us out of this mess we are in. and our hands are tied we can do so much to help but then soon we are going to need the help ourself. What have we done that was so wrong for America to end up this way? Change we need, and I hope with all my heart and soul that we get it. Its just heart breaking knowing alot of people with little children well have no Thanksgiving or Christmas this year.
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Tango5711 months, 3 weeks ago
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Henry Paulson was given free reign on how the money was handled. Congress intervened and questioned Paulson's motives, by asking for clarification. In the end, because the legal writing of his authority he snubbed congress, and us and did what he wanted. That guy is just another disaster by the Bush administration. Just helping that top 10%. I'm happy to see that after these 8 years more people are starting to pay attention to this train wreck.
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slate11 months, 3 weeks ago
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Henry Paulson was given free reign on how the money was handled.
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There lies the crux of the problem. All that power given to a young unelected man. Taxation without representation. Hey isn't that why we went to war and started a country in the first place? -
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Ralph2bits11 months, 3 weeks ago
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“No money from me”. A call for Civil Disobedience now.
Reply
Congress doesn't really intervene when there is $700B to give out. They get in on the giving. We can't trust Congress to intervene. We can trust them to follow the money. It is time that we, the people for our own welfare and that of our children intervene.
I feel certain that some of the bailout money we’re spending was necessary to promote the general welfare but now I am beginning to sense in my bones a feeding frenzy; pigs at a trough, gorging themselves on the future of my children, grandchildren and great grandchildren. This disturbs me very much and for their sake I want it to stop.
If you feel like me, then its time to draw a line in the sand. We draw the line on the bailout of our auto makers. We say “no”.
How do we get our representatives in the congress to hear us? We can trust that those in power listen to and follow the money. We use that trust.
We write our representatives in the House and simply say: “no money from me if you bailout the automotive companies.” “ I will file my federal tax returns as a law abiding citizen but I will not pay my federal taxes.”
If tens of millions of us good, decent citizens do this we can draw that line in the sand and get our leaders attention. Will our government put tens of millions of us in jail? No. Will some of us go to jail? Yes, that's the price of civil disobedience. I'll pay that price for my childrens' and grandchildrens' future.
Don’t get me wrong, I am very concerned about the health of our auto makers, particularly workers on the assembly line. But workers, owners, managers, vendors, and investors can work hard and make the tough decisions to save their company through Chapter 11 bankruptcy protection. They’ll say no they can’t, but that’s because there are billions on the table for them to take. Why work when you can take?
The billions left should go toward our infrastructure, energy self sufficiency, and education. Use our money to build not bailout.
What do you think?
If this makes sense to you share it with your network. Ask them what they think.
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100%
Parksplace4111 months, 3 weeks ago
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I can not believe that the SOB CEO's have not been rounded up and thrown in jail,and I can not believe that Congress did not monitor AIG,Goldman Sachs,Exxon ceos when they report bonuses in the millions and yet they tanked the company!Freddie Mac,Fanny Mae its all ********.Exxon,if they are making billions in profits then why can'they lower their fuel price to the consumers ? Its called greed!
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I hope that President elect Obama does'nt take the the money and run.George Bush Legacy remains intact the absolute WORST EVER !!!-
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olesteak11 months, 3 weeks ago
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Am I one of the few that saw this coming? If the gov. had wanted a true salvage plan for the people the money would have been given to the people in the form of a low or no interest loan that could be paid back in amounts people could afford. The banks would have gotten their morgage money and the tax payer money would have gone back to the gov. Now this is just money lost. And BTW repubs as well as dems bought into this and next they will buy into bailing out the Car workers unions errrr I mean car manufactors ...right.
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ETproductions11 months, 3 weeks ago
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Time for kneejerk Americans to look up the often-used political slogan, Socialism. It doesn't mean progressive taxation. That's the political sloganeering it's gotten from the Republicans. No, it means government ownership of the financial system and means of production of wealth. What Bush and Paulson are doing is a major move to socialism.
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frctm511 months, 3 weeks ago
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This maneuver is consistent with the theory of crisis capitalism. You exploit a crisis and use fear to get people to accept unreasonable actions and requests like invading Iraq. My feeling is that George the A-hole Bush, who really doesn't care about his office or the American people or his legacy at this point is just trying to screw things up as much as he can in the last two months of his term. We should exile Bush to Iraq when his term is over.
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dandt161211 months, 3 weeks ago
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All the big wigs are being taken care of once again is the way I see it. Sure they need to stay in business, but I have always been told and thought that us little guys are what keeps things going as long as we little people can get loans, go shopping and buy gas and food etc. WE THE LITTLE PEOPLE GOT RIPPED OFF AGAIN!
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SandmonsterComment removed: Hard Banned1 Reply
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