Democrats push back on bailout

How I wish the Dems would get a spine and defend US taxpayers from the terrorist at the Fed but we all know they will cave in the end.

Let the banks fall. The CEO's run off with billions. Now they tell us nobody knows where the money went. I will not vote for anyone who supports bailing out these criminals. 700 billion, kiss my a*s. Let them pay for their own screwup.

Like they know anything about protecting anyone but themselves.

Side note: I learned the other day that Congress doesnt approve our countries finances as pictured in the Constitution. Disturbing. Since 1971, our countries finances have been done illegaly.

This bailout plan is just plain DUMB. Why should the fiscally responsible hard working Americans who did not contribute to this problem have to bailout all the uneducated, ignorant, fiscally irresponsible greedy pigs who caused this economic debacle.

What this bailout means as well, is that the good people, the fiscally responsible people who did not roll the dice and make this poor judgment call, this bad gamble, will now be denied the ability to buy these foreclosed properties and become new home owners -- moreover new homeowners with the ability to pay their mortgages.

What really caused the biggest financial debacle in American history (folks this is WORSE than the Great Depression), is the ridiculous credit score scam we have allowed to be used to determine who got the credit. The current credit score formula allowed loans of huge sums of money to be made to every high school dropout.

If we, as the underwriting taxpayers, really want to fix the out-of-control problems in the U.S. economy, then we need to insist that Congress legislate changes to the credit scoring system used to determine who gets the credit. The U.S. taxpayer has already underwritten many billions in student loans to educate millions of Americans in business, accounting, finance, law, and other subjects testing and imposing degree criteria in the skills of money management, loans, business investments and development.

If we really want to fix this economic system to ensure the fundamentals are sound, then why are we allowing the lenders to loan out gobs of money to high school dropouts, when we should be giving credit score advantages to those who have shown the hard work ethic, perserverence, skill, ability, and emotional stabity to achieve university degrees? A 4 yr. business degree should give a 200 point credit score advantage; an M.B.A. a 400 point advantage; a law degree a 600 point advantage; and a joint J.D./M.B.A. degree an 800 point advantage. And along similar lines for other equivalent degrees such as M.D.s who are educated in Hospital Administrations, C.P.A.s, etc.

With such a change, at least we would know ONE thing: borrowers would have formal accredited educations in money management and turning around financial downturns in a bad business cycle -- at least such borrowers would stand a fighting chance to keep the default rates low.

The U.S. taxpayer would solve both the student loan repayment and housing repayment problems with this one change. And this change would create a financial incentive for the U.S. to have a more educated populace, as the high school dropouts realize they cannot acccess the credit market unless they complete high school and go to college.

It works for other Countries that are getting the competative edge on the U.S. in spades. It can work for us.

Yogi Bear wrote:

This bailout plan is just plain DUMB. Why should the fiscally responsible hard working Americans who did not contribute to this problem have to bailout all the uneducated, ignorant, fiscally irresponsible greedy pigs who caused this economic debacle.
What this bailout means as well, is that the good people, the fiscally responsible people who did not roll the dice and make this poor judgment call, this bad gamble, will now be denied the ability to buy these foreclosed properties and become new home owners -- moreover new homeowners with the ability to pay their mortgages.
What really caused the biggest financial debacle in American history (folks this is WORSE than the Great Depression), is the ridiculous credit score scam we have allowed to be used to determine who got the credit. The current credit score formula allowed loans of huge sums of money to be made to every high school dropout.
If we, as the underwriting taxpayers, really want to fix the out-of-control problems in the U.S. economy, then we need to insist that Congress legislate changes to the credit scoring system used to determine who gets the credit. The U.S. taxpayer has already underwritten many billions in student loans to educate millions of Americans in business, accounting, finance, law, and other subjects testing and imposing degree criteria in the skills of money management, loans, business investments and development.
If we really want to fix this economic system to ensure the fundamentals are sound, then why are we allowing the lenders to loan out gobs of money to high school dropouts, when we should be giving credit score advantages to those who have shown the hard work ethic, perserverence, skill, ability, and emotional stabity to achieve university degrees? A 4 yr. business degree should give a 200 point credit score advantage; an M.B.A. a 400 point advantage; a law degree a 600 point advantage; and a joint J.D./M.B.A. degree an 800 point advantage. And along similar lines for other equivalent degrees such as M.D.s who are educated in Hospital Administrations, C.P.A.s, etc.
With such a change, at least we would know ONE thing: borrowers would have formal accredited educations in money management and turning around financial downturns in a bad business cycle -- at least such borrowers would stand a fighting chance to keep the default rates low.
The U.S. taxpayer would solve both the student loan repayment and housing repayment problems with this one change. And this change would create a financial incentive for the U.S. to have a more educated populace, as the high school dropouts realize they cannot acccess the credit market unless they complete high school and go to college.
It works for other Countries that are getting the competative edge on the U.S. in spades. It can work for us.

Do you realize that the people primarily responsible for this problem have the degrees aformentioned.

A degree in of itself doesn't equal fiscal responsibility.

I know its easy to make a cyni-
cal comparison between Feds.
bailing out institutions, but
not rescue individuals from
impending foreclosures if it
were not for the fact many of
these disappointed home buyers
mutually exclusive of their
predicament have substantial
individual undefined retire-
ment pension accounts which
had to be collateraly protected
from further erosion by the
Federal Reserve "buying" these instant foreclosed dwellings
which are in effect still
"real wealth"; hence the con-
fidence of foreign reserves
contributing to the rescue so
quickly. Certain consequences
I think are emminent, but a
covenant between the 2 major
parties to significantly re-
duce our trade deficits by
partially returning overseas
manufacturing "real wealth"
to the U.S. this next decade
ought to be explicitely part
of this reassurance!?

F.M.

oops the RECCESSION has just slipped to a DEPRESSION?

Hadith Collection
http://www.iiu.edu.my/deed/hadith/

If we don't get to use the corporate jet, then I say we don't bail them out.

No, wait, that's just too damn flip...

Actually, Frank Miller is correct. We do have to rescue our pensions and homes. The problem, as usual, is the reckless Bush administration not paying attention to the experts warning them to move carefully and with safeguards in place.

Oh, for a political leader who listens to those who don't agree with him!

Anything from the George W Bush Administration needs to have oversight and safeguards to protect the American people.

Everything this President has touched in his life has turned into manure. It's foolish to allow his team to impact our long term economy, given their track record in Iraq, foreign policy, jobs, energy...

One hundred twenty days to go with Bush as President. How many more train wrecks does this guy have left in him?

People, this problem started when the MINORITIES, ACLU and Democrats started pressuring the banks to give them loans, filing lawsuits when declined a loan, despite their low credit ratings, calling it 'discrimination'.

Didn't Obama line his pocket with Fanny and Freddy money to look the other way? Didn't they want these people to 'own homes'.

Owning a home is a PRIVELEDGE not a RIGHT in America!

They will back down since wall st grease there hands with contributions....Or do small act to make the dumbed down herd that there doing something for the little man.....

comeagain wrote:

<quoted text>
Do you realize that the people primarily responsible for this problem have the degrees aformentioned.
A degree in of itself doesn't equal fiscal responsibility.

Well said "comeagain".

Blondie wrote:

People, this problem started when the MINORITIES, ACLU and Democrats started pressuring the banks to give them loans, filing lawsuits when declined a loan, despite their low credit ratings, calling it 'discrimination'.
Didn't Obama line his pocket with Fanny and Freddy money to look the other way? Didn't they want these people to 'own homes'.
Owning a home is a PRIVELEDGE not a RIGHT in America!

Isn't it funny how regardless of what the problem is or who actually caused it the republican turn it around to be a democratic issue. They are like little children that pee their pants. Their response for peeing their pants "johnny spilled some water and I accidentally sat in it".

I don't get it, until the Republican party as a whole starts taking responsibility for their actions, nothing will change while they are in power.

So if you want real change vote OBAMA/BIDEN 2008.

comeagain wrote:

<quoted text>
Do you realize that the people primarily responsible for this problem have the degrees aformentioned.
A degree in of itself doesn't equal fiscal responsibility.

Correct If you mean James A. Johnson, Franklin Raines, Barney Frank, Chris Dodd etc..they are all very educated!

Bush is trying his best to protect the market..This is where millions of average middle class folks have theys 401k and IRAs invested.

The little man is the one that loses when the market goes tits-up.

God Bless America and God Bless President George W. Bush

God bless President John McCain (say it...get used to it)

If bushie wants it.....IT CAN'T BE GOOD FOR AMERICA!!!

Blondie wrote:

People, this problem started when the MINORITIES, ACLU and Democrats started pressuring the banks to give them loans, filing lawsuits when declined a loan, despite their low credit ratings, calling it 'discrimination'.
Didn't Obama line his pocket with Fanny and Freddy money to look the other way? Didn't they want these people to 'own homes'.
Owning a home is a PRIVELEDGE not a RIGHT in America!

That is bullshit.

The median income in Hampton Roads is 34,000. The Median home pricing two years ago was 275,000 How is that justified?

Foreclosures in your region has and is attributed to the transit nature of the military resident.

The case in your back yard. On average, most Black Virginias own their homes without a mortgage, because they alway could not get loans their homes are not at risk...

The problem lies in borrowing money on homes. Using that credit as purchasing power, insteade of spenind income, homeowners were spending wealth.

Yogi Bear wrote:

This bailout plan is just plain DUMB. Why should the fiscally responsible hard working Americans who did not contribute to this problem have to bailout all the uneducated, ignorant, fiscally irresponsible greedy pigs who caused this economic debacle.
What this bailout means as well, is that the good people, the fiscally responsible people who did not roll the dice and make this poor judgment call, this bad gamble, will now be denied the ability to buy these foreclosed properties and become new home owners -- moreover new homeowners with the ability to pay their mortgages.
What really caused the biggest financial debacle in American history (folks this is WORSE than the Great Depression), is the ridiculous credit score scam we have allowed to be used to determine who got the credit. The current credit score formula allowed loans of huge sums of money to be made to every high school dropout.
If we, as the underwriting taxpayers, really want to fix the out-of-control problems in the U.S. economy, then we need to insist that Congress legislate changes to the credit scoring system used to determine who gets the credit. The U.S. taxpayer has already underwritten many billions in student loans to educate millions of Americans in business, accounting, finance, law, and other subjects testing and imposing degree criteria in the skills of money management, loans, business investments and development.

Have you lost your Mind?

Who do you think put together these sophisticated schems in the first place.

By all that is right, there are a number of college grads, and law school grads who need to be looking at jail.

Phester O Boyle wrote:

Bush is trying his best to protect the market..This is where millions of average middle class folks have theys 401k and IRAs invested.
The little man is the one that loses when the market goes tits-up.
God Bless America and God Bless President George W. Bush
God bless President John McCain (say it...get used to it)

I think God has had it up to "here" with Republicans asking Him to "Bless" anything.
He knows blasphemy when He hears it.