Wheres my government bailout?

As many of my ATS friends know I own my own company related to the housing industry. Times have been extremely slow so I have been working with all the banks on my lines of credit to make my payments easier till the economy picks back up. Interest only loans would work great for me in a time like this on my lines. So I called the bank today and I was told that there is no way they can give me an interest only loan. So I responded ok can I get a bailout like Freddie, Fannie, FDIC, Bear Sterns, and in the near future the auto, and airline industries? After he chuckled he said sorry there is nothing that I can do to help you out. Maybe if you grow to be as big as them you can get a bailout but until then make your payments and like it.

So I say to myself ok so I am a small business so I dont count? Im not even asking for a bailout Im asking to get me into an interest only loan on my current lines. Is this to much to ask especially considering the crap we have seen?

People if this isnt some sort of reverse socialism I dont know what it. I paid my taxes during the boom and didnt say a word unlike the big CEOs of these same companies that are getting bailed out by ME the taxpayer complaining that 15% in taxes is to much to pay while I pay 30% and make far less than them. People I sick of this and I know other ATSers have to have small businesses and can relate. Give me some input here.

I hear you man, I hear you. I don't own a business or anything, but I know I feel a similar frustration when the big bailouts occur. Even the "settle your debt for less than you owe" commercials tick me off. I can't believe that it's set up to work that way.

What happened to old-fashioned good sense? Living within one's means? SAVING money? I just don't understand what got into people.

The foolish get bailed out and the responsible shoulder the burden.

What a wonderfully poor example our current leaders have set for everybody.

Welcome to the real world. Face it, you don't make enough money, you didn't attend the right collage fraternities, you didn't join the right church, your dad wasn't in the CFR, and you probably don't consider the rest of us as sheep for you to fleece.

You, my friend, are not an Elite. Why would you think that you would be entitled to any of the perks, concessions, and helping handouts that the Elite reserve for themselves and their cronys?

To quote the late, great George Carlin, "its called the American Dream because you have to be asleep to believe it".

Originally posted by Ambient Sound
Welcome to the real world. Face it, you don't make enough money, you didn't attend the right collage fraternities, you didn't join the right church, your dad wasn't in the CFR, and you probably don't consider the rest of us as sheep for you to fleece.

You, my friend, are not an Elite. Why would you think that you would be entitled to any of the perks, concessions, and helping handouts that the Elite reserve for themselves and their cronys?

To quote the late, great George Carlin, "its called the American Dream because you have to be asleep to believe it".

Nope I didnt go to the right frats or "secret societies" for sure because Im a high school drop out but I started my own company with me and a ton of hard work and in 4 years I went from just me to 30 employees. Now I only have 12 left because business is dead. Im not looking for bailouts at all Im looking for an interest only is that to much to ask? Its not like Im filing bankruptcy or looking for 6 trillion dollars like the 2 Fs. I do feel that college frat buddies and what not do stick together. Now Im mad I didnt just go.

You have my sympathies. I hope things pick up for you soon. Its the same in the UK. If you're hard working and trying to get on in life the government doesn't want to know you. All it wants is your tax money. However, come in from abroad, live in a bedsit and have no job, or get yourself pregnant and the government bend over backwards to throw money at you. My business went under in March so I know what you're going through.

Originally posted by Mintwithahole.
You have my sympathies. I hope things pick up for you soon. Its the same in the UK. If you're hard working and trying to get on in life the government doesn't want to know you. All it wants is your tax money. However, come in from abroad, live in a bedsit and have no job, or get yourself pregnant and the government bend over backwards to throw money at you. My business went under in March so I know what you're going through.

Lots of truth there my english friend. The fact is if I was illegal and had no job I would get showered with benefits. But Im not so I guess Ill just accept the shaft and Ill go ahead and put my taxes to bail out all these to big to fail companies. Its the new American way I guess.

Ah the power of privilege or is it the privilege of power?

Of course you could do what the big boys do...organise.

Try to attend some community chamber of commerce meetings or start one if there is not one already or form your own if the CoC thinks you are too small. Talk with other small business, form up and approach the bank branch president asking if they want your group's endorsement as a prefered bank to your group. If he does give it a week or two for everyone to open a small account, then set up a meeting to ask him if he enjoys the recent activity and causually mention how things are not the greatest at the moment for your businss but you expect things to really pick up when this cycle is through and we are all on the upswing. And discuss with him (not the loan officer) about converting credit lines to interest only payments which will extend the loan payoff period.

Anything short of total agreement to do so you pull your group's endorsement and take out a small ad in the local paper stating that your group no longer endorses that particular bank for small business means.

Yes, it is dirty and very political in nature. You could cause that branch to actually be closed by fostering the idea of "No confidence" in the public with their personal accounts. But here is the beauty, if the bank trys anything in retaliation like balance due or forclosure...you can nail them to the wall for questionable banking practices and make it become a big story. Drive in some business from the free advertising the story will generate. Grab your pile of cash and then you can outsource/relocate to a lower cost of living area.

Will any of this work, maybe not. But it might have given you a wicked smile for a minute.

reply to post by Ahabstar


You might be onto something there. Essentially, a lot of us are in small (even though I live in a city of 80k everyone knows everyones's business still) towns, etc. there's nothing like organizing in your own back yard, especially if everyone started doing this across the nation. You CAN hit them in their own backyard, I've done it in the past, but what if everyone did it at the same time?

For instance the local branches of your banks. Get a group if there is one (Chamber of Commerce) or all the small businesses and interview the Banks for who is getting ALLl of your business en masse cause you're fed up. Start sticking it to them!

reply to post by mybigunit


Guess what, already our tax payer bail out is going to benefit no only the dirty corrupted private side of it, but now is links that our own government is going to allow the rich wealthy oil states to dig into these two institutions.

We are paying for the bail out and now we will be sold out once again to another foreign nation.

Why in the heck we the American tax payer are not marching right now in Washington demanding an explanation.

Why we the public, tax payer and the voters in this nation not been asked about this government decision Is our frickin money our tax payer money!!!!!!!!!!!!!!!!!!!!!!

Despicable.




[edit on 8-9-2008 by marg6043]

reply to post by marg6043


"People" are Marg, I'm just afraid that there's more "sheeple" than people now.

Remember, the Housing Bailout you caught long before it came to a head? The American people said no, and their elected representatives spit in their eye and did it anyway. No one said boo once it was over. (Unless of course every person who voted for it facing election this year gets the boot - but I doubt it.)

Makes one want to kick everyone in their tushie, but I really don't know what the answer is now.

The Truth Relentless is that our government true nature is coming forward but many people have clue of what is going on.

Like I said before behind the so call bailing out the economy this nothing than a go to bailing out private interest with tax payer money.

I wish people, voters tax payer will see it for what it is.

Originally posted by Relentless
reply to post by marg6043

 

"People" are Marg, I'm just afraid that there's more "sheeple" than people now.

Remember, the Housing Bailout you caught long before it came to a head? The American people said no, and their elected representatives spit in their eye and did it anyway. No one said boo once it was over. (Unless of course every person who voted for it facing election this year gets the boot - but I doubt it.)

Makes one want to kick everyone in their tushie, but I really don't know what the answer is now.

Heres the thing though and this is where the sheeple thing comes into play. They play the fear card. "Oh NO bad things will happen if we dont nationalize this. We need to do this for economic stability" This is the same crap they spouted for homeland security and the sheeple eat it right up. The fact is Freddie and Fannie would go bankrupt and investors would step in and buy these up at a deep discount. House values would plunge and they need to. But instead we will prop up the housing prices and bail out fannie and freddie and the people will allow it because they are being scared into allowing it. Kind of like when the FED was created. Fear mongering at its finest.

[edit on 8-9-2008 by mybigunit]

That is what I am afraid off that for now on we the tax payer are to be used to bail out every private entity that the government corrupted politicians are linked to be by private interest, lobbying or personal investments.

This need to stop, people needs to be aware of this deceiving practices.

What I want to know is where is the F'ing outrage. Bill Gross got on TV last week and said he wasn't buying anymore GSE debt or Treasuries until something happened. It's been no secret that he's been long GSE debt and MBSs and at the same time short Treasuries. I think the foreign SWFs said pretty much the same thing. Whatever amount they are saying it will cost the taxpayer now multiply by 10-100 and you have a better guestimate as to the cost.

Would it really destroy the economy if housing prices came down to say AN AFFORDABLE level?

Originally posted by jefwane
What I want to know is where is the F'ing outrage. Bill Gross got on TV last week and said he wasn't buying anymore GSE debt or Treasuries until something happened. It's been no secret that he's been long GSE debt and MBSs and at the same time short Treasuries. I think the foreign SWFs said pretty much the same thing. Whatever amount they are saying it will cost the taxpayer now multiply by 10-100 and you have a better guestimate as to the cost.

Would it really destroy the economy if housing prices came down to say AN AFFORDABLE level?

Not at all in fact the housing priced NEED to come down to normal levels. Like levels to where people dont NEED to finance them. Houses need to come down to the 90k to 110k average range. Plain and simple as that. That was the average cost in the 90s and since wages have gone NO WHERE since the 90s this is what needs to happen. But nope I get to cover the 6 trillion in debt while being told that there is no help for me. Thanks

My small business folded about 2 months ago, sales hit the wall about 6 months ago and it just didn't make sense to keep beating a dead horse. I still have all my inventory and supplies for production, but I am now on hold indefinately.

Calling the bank and even the SBA got chuckles and apologies, a small fry like my company doesnt even register on their radar screen.

A year ago I was growing getting, some local recognition with a nod in the paper and a couple local websites/blogs, and really hitting my stride business wise.

I built it from nothing learning it as I went and was finally looking at expanding and moving to a outside location, rather than my kitchen and dining room. At the very least we were going to totally refinish the garage into a commercial type kitchen workspace. I was making more money than my husband and loving every minute of it.

But with a product that teeters on the edge of being a commodity and relying on disposable income and people wanting a little extra something nice I don't have a chance in the current marketplace.

Now I am working a little bar/cafe slinging beer and nachos for someone else and frankly it sucks.
Granted the money can be very good.... I walked out with over 300 tonight. But some nights, like tonight, It just isn't worth it to be disrespected by drunk guys and want to cry every time I have to take a step because my feet hurt so bad.

Originally posted by mybigunit

Lots of truth there my english friend. The fact is if I was illegal and had no job I would get showered with benefits. But Im not so I guess Ill just accept the shaft and Ill go ahead and put my taxes to bail out all these to big to fail companies. Its the new American way I guess.

Well, your first mistake here is lashing out at the poor or illegal. Sure, that is all wrong and bad and all that but so is the corporate greed that fuels the elite. So you have 20 illegals living in a one room taking any job they can and that is screwing you, or you feel they are getting benefits that they do not deserve but get. And you have rich men laughing as they get more and more tax dollars to make up for the millions of customer dollars they lost to whom exactly?

Let's just say they are both bad but until you get rid of the rich guy getting the bailout first, you will never get rid of the illegals getting welfare.

Sad when someone I agree with and respect is going through so much hell, just because he plays legit and tries to keep himself and his employees afloat.
Really sad day.

Well, hell is breaking loose for every family I know. No one can afford to survive. It hurts me to admit I struggle with my own family now, much less being able to help feed my disabled mother as well.

My fight with the IRS, or some other Gestapo abc gov-sponsored group(s?), starts in 2010, thanks to the Housing Bailout... !! How wonderful that this bill was put together to save the country and its' people.


EDIT: LOL How sad, I spend a half hour typing up the rest. The most thought-provoking and intelligent piece I have ever done, ever... And it disappeared when I pushed Submit. Imagine that.

[edit on 15-9-2008 by LostNemesis]

reply to post by LostNemesis


I also learned the hard way to copy a copy of the post before hitting anything. My sympathies, a star for thoughts unexpressed.

Let's see if I can get the intellectual-roll going again...


Quite simply, the American people are not paying the wages of these criminals. The People are not paying for these wars or bailouts.

How come nobody can see the TRUTH in what is actually going on?

I noticed this when their spending went ABOVE and BEYOND what taxes were bringing in. Tax payers think they are supporting their country... Oh, what a noble cause.

In actuality, they have been spending unlimited amounts of money, not caring what the tax payers think about it. Well, this is exactly WHY they don't care what we think. The people who pay taxes are NOT funding them! I have no idea where these massive amounts of money come from, but it is not We The People, and we have not authorized this debt to be racked up in OUR name.
This country has been a COVER to allow all of this illegal stuff around the world to go on. They obviously do not care about money, since they are not limited, and it doesn't come from us. There, the truth about why they do what they want, and don't care about our jobs. Don't actually need our taxes.

The dirty work has been done. They can afford to get rid of us now.