I'm a 35 year old man with 14 years vested in the local labor union 727. I built my home 10 years ago with my own two hands. I have been struggling to make payments for a few years .I have recently tried to refinance but my credit is to low. I hear and read about the billions and trillions of dollars loaned to try and help out the economy ,so when am I going to see a piece of it. I mean common, 300&500$ bursts of cash isn't doing much once a year. As the article said above. Why not give home owners a stimulus check of more money. I would be able to get back on my feet with even 5 or 7 thousand. Certainlly out of the billions & trillions the gov. is spending on bailing out banks .Banks that won't loan the money to people whom are trying to better themselves . The government needs to take a more aggressive plan of attack. Be more personalized with the people in helping. Instead of going through all these other business routs.
jason law
of IL
@
Mar 24, 2009 21:53:48 PM
$ 700 Billion Bailout???
Could some one investigate how many billions went out of US in bulk just 6 months prior to this bailout arrangement?
of
@
Dec 25, 2008 08:16:19 AM
A better bailout plan
Take the current value of your property,distressed or otherwise, subtract it from it's value at it's peak..... cap this difference (so it isn't a 12 trillion bailout plan). Divide the capped difference by two - give half to the home owner and the other half to the bank and the same amount in the form of a tax credit to the bank/lender. The loan is then renegotiated at the lower amount. So if it's capped at $100,000 loss, the home owner would get $50K and the lender would get $50K cash and a $50K tax credit. Thisresets the value of the home, keeps banks liquid, jump starts the economy (they thought $300 would help - image $30,000!) becuase people would save (more liquidity), buys things like cars or whatever; the real estate market would be shored up somewhat and there wouldn't be a HUGE gov't organization needed to manage properties...
Steve
of AZ
@
Dec 04, 2008 10:00:03 AM
Nationalizing Banks and Big Brother
With the U.S. Government buying it banks, wouldn't that make the Executive branch a partner? As a partner, would not the White House have access to the all the banks records and documents. Would not, all those records, include information on individual accounts of all sorts, to see what everyone has been up to? Aside from the illegal, they could find out what churches & charities you donate to, what political causes, and anything else that catches the fancy of the U.S. Government, without having to justify that perusal to anyone.
More than that, could the U.S. do more than information gathering, could it manipulate and control all the assets of that bank and the account holders.
Why have I not heard anything on this aspect of nationalion of banks out of ANY newsmedia outlet.
Has the United States just become a "banana republic". Like every other tin horn dictator, they create a disaster and then move to nationalize the country's assets. Juan Peron, where are you?
Eric Dodd
of AR
@
Oct 15, 2008 15:00:42 PM
$1 Trillion dollar failout !
We have been discussing with much concern on myinvestorsplace.com all the recent events.. but it is so hard to believe in the Fed when in the last $700 billion bailout they include tax breaks for arrow heads...rum producers...tv producers and more..so many of us worked our whole life to save money...and now things are upside down...What do you suggest for our members of myinvestorsplace.com... what can we do..we need your help...
Andy Abraham
of FL
@
Oct 15, 2008 01:41:33 AM
$1 Trillion dollar failout !
We have been discussing with much concern on myinvestorsplace.com all the recent events.. but it is so hard to believe in the Fed when in the last $700 billion bailout they include tax breaks for arrow heads...rum producers...tv producers and more..so many of us worked our whole life to save money...and now things are upside down...What do you suggest for our members of myinvestorsplace.com... what can we do..we need your help...
Andy Abraham
of FL
@
Oct 15, 2008 01:41:33 AM
BETTER DAYS
Believe it or not this can be the beginning of our finest personal years. Consider self employment. www.LikeSoup.com
jason law of IL @ Mar 24, 2009 21:53:48 PM
of @ Dec 25, 2008 08:16:19 AM
Steve of AZ @ Dec 04, 2008 10:00:03 AM
Eric Dodd of AR @ Oct 15, 2008 15:00:42 PM
Andy Abraham of FL @ Oct 15, 2008 01:41:33 AM
Andy Abraham of FL @ Oct 15, 2008 01:41:33 AM
Jim Campbell of CA @ Oct 14, 2008 21:57:19 PM
Back to blog