Comments on: $85 Billion Bailout

by: newyorkbabe

Fri, 19 Sep 2008 01:11:19 +0000

Re: Lola-itis – Read a macroeconomics textbook. In fact, I'll even suggest that you read Marc Lieberman's. Oh, and he's a democrat.

Don't spout your opinions if they have no founded intelligence behind them. Take an econ class and then we'll talk.

Love you Perez!

by: Lola-itis

Thu, 18 Sep 2008 23:51:59 +0000

why the hell would they bail out a failing company? it's obviously not a good idea if they were failing by 85 BILLION freaking dollars!!! When it comes to taxes… if they want a depression, they got it. We're all screwed.

by: uraPIGperez

Thu, 18 Sep 2008 12:28:53 +0000

~Somebody has friends in high places~
.
Clearly, this was a decision of the Republican Administration.
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Grab a brain ~ America ~ 0bama08
.

by: ms3pt

Thu, 18 Sep 2008 08:42:37 +0000

continued (disregard the above duplicate post)… Consumers look for instant gratification which many companies thrive off of. NOW NOW NOW! Which to companies means PROFIT PROFIT PROFIT! Thats why they offer you credit cards at every freakin department store you can think of. People need to educate themselves and look for other options out there and look at what is best for them today and in the long run. People need to ask questions if they don't understand what is going on or how things work. That is what gets us into trouble time and time again. We have become a nation of people who don't ask questions. And that is where we fall short. What we don't know IS what hurts us. Then when you go to ask the company that gave you that faulty loan why they didn't tell you about the possible repercussions of your investment, they will tell you simply "because you didn't ask!"

by: ms3pt

Thu, 18 Sep 2008 08:39:46 +0000

continued… If Washington Mutual goes under, they will set the record for the largest bank collapse in US history. That title has belonged to Continental Illinois National Bank since 1984 with its collapse of 33.6 billion in assets (Indy Mac had assets of 32 billion when they went under). Washington Mutual had assets of about 309.73 billion as of June 2008.

by: ms3pt

Thu, 18 Sep 2008 08:31:50 +0000

contiued… If Washington Mutual goes under, they will set the record for the largest bank collapse in US history. That title has belonged to Continental Illinois National Bank since 1984 with its collapse of 33.6 billion in assets (Indy Mac had assets of 32 billion when they went under). Washington Mutual had assets of about 309.73 billion as of June 2008. I do point blame at these companies for taking advantage of people and giving them products that would benefit the company in the long run (so they thought). I can also point the blame at the consumer. It's your responsibility for knowing what your signing and what your getting into. But why wait a few years save up to put a down payment on a home and get a less risky loan? Instead they get a loan that rates can go up and you don't put a dent in the principal for 10 years.

by: ms3pt

Thu, 18 Sep 2008 08:29:22 +0000

If AIG were to go bankrupt, the US and the ENTIRE WORLD would have been affected. All these companies were greedy money hungry companies, who just wanted to profit profit profit. A major factor all the companies like Fannie Mae and Freddie Mac went under was due to the bad mortgage loans they gave. Those sub-prime loans which they would extend to people who did not qualify for regular mortgage loan because of their credit history would get these loans at higher interest rates and pay tens of thousands of dollars extra on a home because of their financial stability. To the companies, you reap what you sew! Serves you right for giving people that can't afford/qualify for a loan somewhere else that may have denied them because of the more conservative lending policies they practice. Adding to the fire, the FDIC is scared that if an other major bank like Washington Mutual falls through (which they more than likely are because they are looking for a buyer) they don't have enough money in reserve to pay on the funds that are insured for the banks customers. So then the FDIC will too seek the aide of the government to bail them out. This all because the FDIC only makes the banks pay a minimum monthly on the insurance of their funds. But now the FDIC board is going to raise the premiums the banks pay to help replenish the funds lost by Indy Mac which cost them about 8.9 billon and took them below the minimum required set by congress.

by: fidobarks9

Thu, 18 Sep 2008 06:47:44 +0000

all these young twits buying shizz they dont need.
remember darfur!

by: Louie99

Thu, 18 Sep 2008 05:48:56 +0000

It goes a little bit like this (much as I hate it too)

If they didn't bail AIG out then there would be a full collapse of the financial system, which would change the world as you know it, even blogs like this would be affected because no-one will be able to afford to pay advertising. The lights would literally turn out. So consider it a good thing.

On face value it looks like the taxpayers are being jipped but it is for our own good. The problem is the idiots were allowed to get away with it for so long………

by: xLethalCocktailx

Thu, 18 Sep 2008 04:21:36 +0000

Re: xLethalCocktailx –

Excuse the typos please! I need more coffee… !

Some people (I'd say a mere 10%) have stated exactly why. I love it how other's just give a pathetic answer such as "It's my money they just gave away!!" Nice that you think your own government are a bunch of idiots. Remember that they represent yourselves so make it matter at the Elections 08!