can anyone tell me if i herd this right?
Today on the news they were just telling us the American people what their plan was. Obama seems to be content with it so i dont know. But
i must say this doesn’t sound like what i thought he was trying to do.
Federal Deposit Insurance Corp. Chairman Sheila Bair said she expects her agency will finance as much as 0 billion in purchases of residential and commercial real estate loans.
okay so let me get this right.. The banks screwed us cause well their good talkers. Screwed themselves. We pay money we dont have. Alot of americans lost their homes due to greedy banks and people making us loose our job and our homes in forecloser. And now with our money they buy our homes with our money?
http://cosmos.bcst.yahoo.com/up/player/popup/?rn=3906861&cl=12618169&ch=4226720&src=news
Wouldn’t it been better to just buy the houses from the start and let us stay in their and have some sort of i.o.u. policy?
what do you think?
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13 comments
agentboehm on July 31, 2009 at 11:53 am
yeah don’t you know that’s Obama policy.. sneaky sob ain’t he? it appears he can only coast off ‘bush did it’ for so long.. now he is gonna tax the hell out of us to cover his spending.. you know that the news also said his total spending would total 7.8 trillion dollars as a whole.. thats projected spending mind you.. wheres the money coming from?? that’s more than george washington up to bush jr combined with all the presidents in between is what they said..
Wes on July 31, 2009 at 11:53 am
Yeap its all a wealth grab totally rigged by the bankers. You see correctly
see really they owe us but we settle to them with an IOU
Badcock on July 31, 2009 at 11:53 am
I think the government is the problem, and had they stayed out of it in the 90’s, we’d have no crisis today.
david v on July 31, 2009 at 11:53 am
If you got all the sheep into the pen you "herd" right
#1 UT on July 31, 2009 at 11:53 am
Yep the rich have held the this country for ransom since the Reagan years.
clear clutter on July 31, 2009 at 11:53 am
yes, you have a point. I don’t know how that would be made into law though. If a person has a payment of $1000 but they can only pay $800 then they could just tack on the other $200 & even if they lived a long life & the house wasn’t paid off so what their kids would sell the house & get any equity or none but they would have had a house to live in…I don’t blame the people doing what they can cause they are human & this is so much…I think if have an idea that is clear it is up to you to give that idea to he people who might not even have thought about this…but this is a mess no matter what so people are just doing what they can & then fixing the messes from it. I give them a whole lot of credit for caring to do this work.
Tom W on July 31, 2009 at 11:53 am
Did you know that AIG is changing it’s name and the signs will be AIO.
The taxpayers will be footing the bill for all the sign changes
If were are going to foot the bill souldn’t we get to choose the name.
I vote for the name to be changed to IOU.
cougr351c on July 31, 2009 at 11:53 am
At first I thought you had a typo in the question.
Then I thought about how all of us taxpaying sheep are picking up the tab , and I realized you might have had it more right than I realized at first glance.
Dont blame me I voted McCain on July 31, 2009 at 11:53 am
the reason people are losing their homes is b/c they couldnt afford them to begin with. You can thank clinton for the sub-prime loans to low income folks who couldnt even afford rent on a one bedroom apartment let alone a 500k house. So now the people who were responsible and bought a house they could afford are now going to pay the mortgage of the ones who are losing the house that they had no business ever getting a loan for. Dont you just love the Obama Admin? Socialism 101, maybe the sheep that voted for him are learning something and wont let a mistake like this happen again, but i doubt it.
bluechristy on July 31, 2009 at 11:53 am
You heard right . About one hundred years a go (1913) the actual New World Order was born with the Privately owned Federal Reserve . This put the very power of our country in the hands of the banks . More powerful then Obama or Bush .
However I vote Democrat because the odds will be some what more in the favor of every day working people .It will not erase the power that Money institutions have over every single person in the modern world (and even some that live in remote jungles – I think ).
I call these powerful Men in the Federal Reserve the lords of Mammon. Just sounds more poetic .
roostershine on July 31, 2009 at 11:53 am
A lot of commerce involves people with lots of money allowing others to use it to start a process of making things.
If someone makes a new kind of bicycle, people may give that person money to make lots of them really fast.
Otherwise they would have to sell them one by one till they could buy what they need to make hundreds of the new kind of bicycle.
much of the economic question that fuss is made over
comes down to that lending part of commerce
and nothing else.
Judeo-Christian scripture is nice when thinking about economics.
We don’t have any real conservatives in America because the GOP likes to keep its bible and its wall street more separate than some kids try to keep their mash potato and peas separate on the plate.
Jesus said something about lending money. And the main churches at certain times in history even support the principles we associate with Jesus and the lending of money from some people to other people.
I don’t think scripture means to indicate lending money for commerce is harmful.
What we have done here in America, to a very fancy degree, is blur the distinction between lending out money for people and lending out money for commerce.
People’s very identity as human beings has been devoured by commerce.
When it comes to economy, the behavior of people is measured like the behaviour of cattle.
Wall Street is capable of
recognizing the human soul
only the way a demon takes interest in a human soul.
How can it be corrupted for gain? How can it be broken, sold? Multiplied, drained?
People are today owing money they are going to have to work to repay, in debt that is, before they are even born.
Depending on whether they are born to parents who own seven houses or one just one small one in a drab neigborhood.
The money you gave to the man who made a new bicycle, because people wanted hundreds of his new kind of bicycle fairly soon
is not the same as the money you gave to his cousin to buy a new house, or to someone to buy their kid an education.
And if I’m not wrong, the scriptures do seem to have a lot to say about that.
We have two almost completely opposite sets of religious belief in this country.
One for people.
And one for pure capitalism.
The religion of people has become timid
about money and the dignity of the human spirit.
The religion of the market has become corrupt.
You are correct,
it would be better. And that is perhaps not possible without better distnction again
between lending to persons and lending to commerce.
Me on July 31, 2009 at 11:53 am
Yes but it is in my belief that this whole economic turn down was done because all the baby boomers wanted to start spending the money they thought they have saved . The banks have invested your money into bad investments and lost it. Your government let them do it. G Bush wanted to regulate the financial markets but the Democrats in the house held the power and said no. Not because they did not think it should be done but because GB was in a different party. So I think Nancy Pelosi should step up and explain this to american people. But it is easy to blame Bush and he Should carry blame also. Yes they should have just helped the homeowners directly with there own money or reduced taxes. The money needs to be on the street for it to help the economy not in the banks. The way they are doing it it only helps part of the economy if the people are spending those dollars all parts of the economy gets help.
Don E on July 31, 2009 at 11:53 am
Yes it is borrowed money from foriegn counties and we are suppose to pay it back through higher taxes and eventually higher interest on money borrowed.It is every ones fault that this happened while they were asleep in Washington.From greedy buyers who thought they were going to get rich from higher equities, to lenders,appraisers,Realtors,etc who may have wondered oh well the prices just keep going up so I guess my client will be ok.Remember when you buy a home ,you should only be spending about 28% of your income on a monthly payment.I feel bad that you could be one of over 2 million home owners that are loosing your home.The doubling of gas prices had a lot to do with this collapse.Why do we bail out the same people that took advantage of us ?That`s because they lend so we as borrowers can keep charging and hopefully make better choices down the road.I wish you and your family the best.