The government buy bad assests is bad business. Mortgage payment relief for irresponsible people is bad business. There is other methods.
The bill is about to pass (I believe). CNBC is showing signs of exuberance...happiness and relief. Don't expect that to trickle down to you for some time to come. We'll have to find other ways to have a good day for so many days ahead. Good luck with that to all.
What I want to know is who added the pork? It didn't just appear there. Someone has to put it there and others have to agree. I've been watching the news to see if they'd report it. I have yet to see any names. The situation room said they were going to spell it out but didn't. They showed some that could have, but then said they didn't. Someone did! Who are they and who agreed to add it, and for what reason? Why is this a big secret and why is the media pertecting them. If I did something that stupid the whole world would know about it in seconds.
Standard answer would be, the senate bill was written by the senate leaders heading the committee doing the work...every piece of legislation has an author...for goodness sake do your homework...your future depends on that and always has. Your still looking for someone to tell you your answers...and believeing they are a trustable source...don't stratagists and pundits teach you anything? Go after your own answer in the place where they are. inform yourself.
NEW YORK/LONDON (Reuters) - U.S. banks and money managers borrowed a record amount from the Federal Reserve in the latest week, nearly $188 billion a day on average, showing the central bank went to extremes to keep the banking system afloat amid the biggest financial crisis since the Great Depression.
$188 billion per day times 7 = $1316 billion!
What is even more neglected in being mentioned in the news is that the bail out or rescue will cost a lot more than $1316 billion, or $1.3 trillion.
If the housing market is a $30 trillion market, and if that is down 30%, then the bail out could cost $9 trillion.
And if the housing market is $40 trillion, and if housing goes down 50%, then try more like $20 trillion.
Welcome to our future.
RONALD REAGAN,BILL CLINTON,GEORGE BUSH,THE ISSUE AT HAND RIGHT NOW IS THE WAY FORWARD.BETTER THE COMON AMERICAN'S LIFE,FARNIE AND FREDDY BENEFITTED BY LOBYING. THE BILL WAS PASSED NOW IT WRECKED ALL THERE POLICIES.SHOULD WE LIVE WITH THIS FOR LIFE OR FIND A WAY FORWARD LETS SOLVE THE ISSUE BY BOTH PARTIES HAVING THE AMERICANS COMON INTEREST AND FORGET ABOUT THE PARTY PARTISANS.
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We have no choice. Period...