This is how much the Bailout should cost....

ONE DOLLAR

These people are crooks and they tried to scare everybody and rush this through but people held off and our economy is not about to tank.

This was just a ploy to give these greedy bankers the money that they lost with these bad loans.

The only thing we need to do is take the bad assets off of their books to free up capital for them to invest and loan out more money.

Say a company has a billion dollars of bad assets on the books, this weighs down the company and they need to get these assets of the books. All we need to do is buy these assets for 1 dollar and this will take the asset off the books.

The banks just have to take the loss and eventually we will sell the property. If people are in the house who can't afford it we help them move to an apartment or something else they can afford. We auction off the house at 50 to 60% on the dollar and we use that money to pay down the debt.

There's no need to pay this 700 billion. They know that the 700 billion is not needed and that's why they tried to rush it through without any oversight or review.

These GREEDY bankers actually want the American people to pay them back for giving out these loans.

The only thing is, these people are SICK in the head and they could try to start another war in order to get their money.

Ok I agree with what you are saying but you need to look further into the mire. The assets are owned by China, Saudi, Korea, all over the place. I don't think your plan would be fair to the actual owners of the loans. My feeling is these countries/sovereign wealth funds have some say in this plan as they are the true owners of loads of bad loans. I think it is not a stretch to say the high price of oil is payback for losing billions on our housing debt. I didn't go to Whoreton but I can say that if I bought your debt and then you flaked out plus print trillions of dollars and flood the market with your worthless dollar and I owned the oil that you so desperately need, I would raise the price as well to cover my loss.

I say let it happen. Let the banks go bankrupt and people loose the houses they can not afford. I am tired of taxpayers paying for all the stupidity of the masses. Not to mention that the federal income tax is actually illegal. Let it happen. Do not allow any type of black mail bail out to happen.

I am going to post this on as many threads as I can, because it is time people realize worse things can happen. For example giving all our money and freedom to the government.

reply to post by Wise Dome


I have to disagree...

One dollar is TOO MUCH!!!

Originally posted by mecheng
reply to post by Wise Dome

 

I have to disagree...

One dollar is TOO MUCH!!!

I AGREE!!

The fact is, we have a 13 trillion dollar GDP and we shouldn't be in this mess. This is truly absurd.

The problem is the Behemoth in Washington. It's not just homeowners with bad loans, it's politicians with no morals.

They spend like crazy. They have the best of everything and we pay for it.

Bush borrowed more money than all the Presidents combined.

According to the Treasury Department, from 1776-2000, the first 224 years of U.S. history, 42 U.S. presidents borrowed a combined $1.01 trillion from foreign governments and financial institutions, but in the past four years alone, the Bush administration borrowed $1.05 trillion.

digg.com...

You can't borrow like crazy and spend like crazy.

In a global economy, the people in this country will be able to borrow money because foreign countries want us to buy their good because we have a 13 trillion dollar GDP.

When you cut taxes, you increase savings and investment and money is easy to borrow. This is supposed to happen. When a sector of the economy takes a downturn, there's no available capital because of that huge sucking sound coming out of Washington.

There's just no way that we are supposed to be going through this with a 13 trillion dollar GDP. Government is to blame because we now have over a 9 trillion dollar debt. This is the real problem.

These people spend tax payer money like it's no tomorrow and it has to stop. Bush needs to come in front of the people and explain how we are 9 trillion dollars in the hole and when he entered office we had a projected surplus.

[edit on 26-9-2008 by Wise Dome]

reply to post by Wise Dome


700 billion not approved fast enough .......

And WaMu fails.

If it doesn't pass, MORE banks WILL fail ..

Of course, I say let them fail!