Democrats adding "bail out" irresponsible homeowners to financial bill.

The problem we seem to keep having in Washington is the majority doesn't care what happens to the economy or to our national security as long as they keep their special interests happy. You would think that in an emergency the Dems would try to work with the Administration. Fat chance.

Chuck Schumer said today that he is going to change the bailout bill the Fed is presenting to Congress by adding bailouts for mortgage holders and putting limits in the bill on executive compensation.

House Speaker Nancy Pelosi, D-Calif., said in San Francisco "We cannot deal with this unless this bailout helps families stay in their homes."

The bill is already tabbed at around $700 billion and the Democrats plan on adding billions more to it turning it into a "Christmas Tree bill.'


Quote:
"The American people are furious that we're in this situation, and so am I," the House's top Republican, Ohio Rep. John A. Boehner, said in a statement. "We need to do everything possible to protect the taxpayers from the consequences of a broken Washington."

Signaling what could erupt into a brutal fight with Democrats over add-on spending, Boehner said "efforts to exploit this crisis for political leverage or partisan quid pro quo will only delay the economic stability that families, seniors, and small businesses deserve."

Bush said he worried the financial troubles "could ripple throughout" the economy and affect average citizens. "The risk of doing nothing far outweighs the risk of the package. ... Over time, we're going to get a lot of the money back."

My Way News - Bush team, Congress negotiate $700B bailout


Now democrat house leader, Nancy Pelosi & along with Barack Obama--want us to guarantee, at our tax dollar expense", the ignorage & irresponsiblity of people whom knowingly bought homes they could not afford in the first place. GREAT! Why don't they just send us the rest of their bills too?

So democrats run Fannie Mae & Freddie Mac into the grounding while CFO's of these agencies walked away with hundreds of millions of dollars, two of which are on Obama's campaign committee--& of course, Obama used these two agencies for his own personal piggy bank.

Why didn't Americans (employees & investors) who lost so much money in the stock market over fraud, specifically Enron, Worldcom & others get a government bailout? They are more deserving than these morons.

Like my banker told me: If you don't pay--you don't stay
__________________

are you suggesting that mortgaging homeowners should lose their homes and rent instead?

I am assuming you're making a sarcastic joke? Would you expect to be able to stay in your home if you didn't make your monthly mortgage payment?

no, i'm worried about the bank going under, despite the fact that i've never been late on a payment.

i make all my payments on time. i'm just afraid of the bank itself going under.

So we should bail out the companies that gave loan to people who couldn't afford it but not help the people who are loosing their homes. Also one of the reasons they are loosing their homes is because the companies raised the interest rates on the loans so high that made it impossible to make the payments. Also what about the people who are loosing money on their retirement funds because of the problems in the stock market.

__________________
I HATE coconut. Not the flavor, but the consistency.---Tallahassee

so we are responsible to keep people from being "loosers" oh my

Ordinarily liberals just confiscate money and give it away to the under-productive.

Now they have a debacle they engineered and will spin onto McCain even he warned against it...and they still get their vote-buying scheme for the deadbeat bloc.

__________________
I support homosexuality because it keeps liberals from breeding.

I support abortion because it keeps liberals from having children.

I support public education because it keeps liberal children pliable, unthinking and easily lead.

I support euthanasia because old sick liberals aren't worth paying for.

I support welfare because liberals will not eat if they displease me.

How do you like me now?

How is your 401k right now? And my point is, if we are going to bail out the companies who gave the loans out in the first place knowing people at some point would not be able to make their payment why shouldn't we also bail the people who recieved the loans. Both are at fault! Are national debt keeps getting higher and Bush is the one who keeps wanting to bail out everyone. And all while we are doing this we are sending a billion dollars to Georgia, we can't keep borrowing money from China!

__________________
I HATE coconut. Not the flavor, but the consistency.---Tallahassee

The point of this thread is: We already know we're going to be bailing out the banks--at a cost of 700 billion dollars. In essense, our government will own these foreclosed homes.

Are we too bail out also, the ignorant/irresponsible homeowners? This is what the democrats are trying to add to the bill.

is there anybody in the whole wide world you liberals won't bail out? what are you gonna do when you end up with more takers than givers?? want us all to be "loosers" will that work for ya?``````````````````````````


a bird in the had is worth two in the bush.. I hide my money in a coffee can. I highly recommend it..

Have you ever borrowed money from a bank or made a mortgage loan?

Loans have full-disclosure in them. That's the law. There is no trickery--involved!

I have many times during my life. Most of the time I have to come up with collateral or a large down payment for my mortgages.

I also sign an agreement with the mortgage company, that should I not pay they will foreclose on my property & I will no longer be able to live there.

The loan is explained in detail to me, (written & otherwise) & I have to sign that agreement before I get the mortgage.

I fully understand that if I do not make my mortgage payment I will lose my home. There are 98 million Americans who own homes in this country. 94 million of these mortgages are paid on time with no problems--& many are Americans who work two jobs to insure they keep their homes. 4 million are in default or in foreclosure procedings.

Did I ever say in my post that I wanted to bail them out. I was saying that what is the difference when you bail out the company that loans the money to people they know can't afford the payments then people who recieve the loans. This country can't afford to be bailing out everyone anymore.
But I do love how the cons always want to help out the rich man but never the poor man. You need the poor man, I mean whoelse is going to be your checker at Walmart or cook your burger at McDonalds.

__________________
I HATE coconut. Not the flavor, but the consistency.---Tallahassee

I'll do it. No worries

__________________
"Some men eventually stumble over the truth but they usually pick themselves up and walk on as if nothing ever happened."
-Winston Churchill

"In religion and politics, people's beliefs and convictions are in almost every case gotten at second-hand, and without examination, from authorities who have not themselves examined the questions at issue, but have taken them at second-hand from other non-examiners, whose opinions about them were not worth a brass farthing." -Mark Twain

Basic economics--We are bailing out the financial sector, (the banks) SO--you & I (the responsible people who pay our mortgages & bills) will be able to walk into a bank & get a loan, should we need one.

That's what this 700 Billion is about.

Next: You & I now own these foreclosed properties. As P. Bush stated, once these properties gain in value we will sell them to repay the U.S. treasury.

AIG is also another loan that is to be paid back. If you're so worried about the poor, who essentially caused this mess--then break out your own personal checkbook & make a donation to them.

People who work at Walmart do have availability for low income housing--instead they decided they would buy 400,000-$500,000 dollar homes. That's what caused this financial crisis. It runs from them to greedy mortgage brokers, to lack of oversite from mortgage companies all the way to the congress of the United States.

I like millions of other Americans work hard for our money--[i]I don't expect you or anyone else to pay for my mistakes.[/I]

But bailing out the millionaires on Wall Street is ok then?