Tuesday, September 30, 2008

Housing Crisis

This video got my attention about the housing crisis. Check it out before it is pulled.

* *This one is even more revealing. How did it all get started? Watch the video.

If I were to vote: No bailout! No rescue! How many are we going to "bailout" before it is all over? How much of this is the American taxpayer going to pay? When does it all stop?


At 10:47 PM, Blogger Jim said...

This comment has been removed by the author.

At 12:54 AM, Blogger MightyMom said...

oh but YOU CAN VOTE you can by getting in touch with your congressman and representative and letting them know your opinion.

At 4:02 AM, Blogger Diane@Diane's Place said...

I'm no financial genius, but even I saw this coming.

I agree, Lucy. Enough is enough!



At 8:22 AM, Blogger Leslie said...

If there was a bailout,then what's to stop themfrom asking for another bailout when they all screw up again? It's like childre: If we help them with every detail all their lives, they never learn to help themselves.

At 6:25 PM, Blogger NoSurfGirl said...

I'm totally against the bailout. I agree with you there.

As to FMAC and FMAY, and the link to obama and the congressional black caucus,

everyone is trying to find someone to blame for this. It's a human trait, that we find someone to blame for our pain and our loss, and our fear. It's very convenient for both sides that this is an election year, because then that natural tendency to blame becomes a tool in each candidate's hand against the other. I've pretty much stopped listening to the news, and I don't open forwarded emails anymore... all this blame going around, all this demonizing, both amuses and saddens me.

At 8:55 PM, Blogger Jamie Dawn said...

I hope to see anyone in Congress who was pushing for these bad loans to be made to be exposed and punished, whether Republicans or Democrats.
I hope the CEOs and companies that made these bad loans over a number of years are exposed and prosecuted.
When I make bad choices, no one bails me out. I must live with the consequences.
We'll see how this all plays out, but it is a huge mess, and those responsible must be exposed and held accountable. An investigation is called for since this crisis is monumental.
If this "rescue" plan does not fix the problem, and the gov't asks for more bailout money, Americans are gonna go berserk with anger.
Enough is enough!
I want to know the truth and the whole truth about all that brought us to this point, and I want heads to roll for it.

At 2:24 AM, Blogger OldOldLady Of The Hills said...

Ubfortuneatly I cannot see these Videos...There is a HUGE Problem with Adobe Flash Player and my computer wizard cannot even fix it! UGH!

I know this. DE-Regulation got us into this mess and ut started with Reagan and unfortunately McCann's man Phil Gramm is also very resposible for all the De-Regulation, as is McCain himself, since he has ALWAYS been FOR De-Regulation and THAT is what has gotten us into this horrific mess!

At 10:50 AM, Blogger Jim said...

Hi Lucy, I wanted to see what people are saying.
I am glad AIG got bailed out, they are holding one half of my pension.

I am glad too that there will be stimulus to nudge the economy from not falling too far. It worries me that soooooo many are on the government dole for their retirement, teachers, police, fire fighters, civil service, etc.
If all of US were to go to the bread lines would that help the rest of the 'productive' workers of American?

I agree 100% with Warren Buffet last night on PBS Charlie Rose for an hour. He likened the 'bailout' to the paramedics (government) coming to the rescue of a strong athlete (US) who was laying on the ground with a heart attack (our downturn).
Warren said right now the paramedics (Congress) are worrying about where within two inches are they to put the resuscitation (government aid) when most any place near would do the job.
He also said we would still keep going down to a very bad recession, worse than most of us ever knew. But without the government 'bailouts' we would go into much worse (he really didn't want to say 'depression')
Also he said it will probably take more than what is just now.
And how pathetic is it (he said) to have a leader who can't communicate his ideas and hence even his own party votes against him and possibly to the ruin of the country.

He said a lot more, but in a nutshell that man knows what he is talking about.

I know it is a misstake to call this a 'bailout' as it should be called 'economic stimulus # 2' and then keep going and going till we get if fixed.

We are about as bad a mess as some of the South American countries have been when they have to devalue their dollars, yet have terrible poverty, etc so many times.

Greed (includes imported cheaper goods, our money leaves the country and we are getting to be really foreign owned now) and borrowing above people's means are the cause of all this according to Buffet.
BTW, you don't know how many response to you I wrote and then didn't do the "publish" button.

At 1:21 PM, Blogger Jim said...

Lucy, that's what Mr. Buffe said, what you said on my blog and more.
He did say that this 'bailout' won't fix the problem, it is more like a tournament and more medicine, etc, even perhaps another tournament or more, will be needed. Also it will take a long time to heal.
Probably even an infection (get a lot worse) will occur, but the nation won't quite bleed to death as long as action is taken.
He also said that all action wouldn't be correct, but like a parmedic, we couldn't wait to go to med school before acting. Congress shouldn't dilly-dally and each day's delay brings more people down. And not the big CEO's but like us, our jobs and our pensions and houses.

At 9:11 AM, Blogger Big Dave T said...

I see now that California wants a $7 billion bailout. Other states will follow suit if California gets federal money. GM and probably some other auto makers will be standing in line soon.

I agree. Bailouts are not the answer to whatever problems ail this country.


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