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Flumper Barflusterbutt · 10-01-2008, 11:49 PM

What I don't understand about this bailout situation is why have they not come out to the American people and said, "Okay, the shit is hitting the fan. We are working on a bailout plan to get us out of this mess. IN THE MEANTIME, here is what you people need to do.

1. Pay off any loans that you have that you do not need.
2. Cancel any plans to get a home equity loan.
3. Cancel any Lines of Credit that you do not use or do not need.
4. Ect...

It just seems like they should be telling all of us what things we could change about the way we do business every day that would help the situation. Surely a few million people changing their lifestyle would do some good in the meantime.

Flumper Barflusterbutt · 10-01-2008, 11:49 PM

BIRD33 Wrote:You blame the people who were in power the majority of the time and those who cozied up to business and pushed deregulation.Only one party fits that bill.Its not completely their fault but to say both parties share equal blame is crazy.

Wow. That is the most stupid thing I have ever heard.

BIRD33 · 10-01-2008, 11:51 PM

Flumper Barflusterbutt Wrote:Wow. That is the most stupid thing I have ever heard.

Care to elaborate?

BIRD33 · 10-01-2008, 11:53 PM

Flumper Barflusterbutt Wrote:What I don't understand about this bailout situation is why have they not come out to the American people and said, "Okay, the shit is hitting the fan. We are working on a bailout plan to get us out of this mess. IN THE MEANTIME, here is what you people need to do.

1. Pay off any loans that you have that you do not need.
2. Cancel any plans to get a home equity loan.
3. Cancel any Lines of Credit that you do not use or do not need.
4. Ect...

It just seems like they should be telling all of us what things we could change about the way we do business every day that would help the situation. Surely a few million people changing their lifestyle would do some good in the meantime.

We have a president don't we?They is him.This is like Katrina for white people finally figuring out how incompetent bush's administration has been.

I agree with everything you posted.People have been living above their means for a while and in the case of people my age forever.

Flumper Barflusterbutt · 10-02-2008, 12:34 AM

BIRD33 Wrote:We have a president don't we?They is him.This is like Katrina for white people finally figuring out how incompetent bush's administration has been.

I agree with everything you posted.People have been living above their means for a while and in the case of people my age forever.

Okay, just tell me this much. You have to admit, this problem is a little on the HUGE side. I mean they are wanting to spend more than the two wars we are in right now have added up to.

It could be argued that this problem is bigger than 9/11. Where are the people that can rise above partisanship? Where are the ones that can react to this with the seriousness that it deserves.

If your neighbor's house catches on fire you don't find everyone standing around the front yard arguing about who started the fire or who's fault it was. You find neighbors trying to put it out, people running in to retreive anything they can get their hands on, people counting children, etc.

Bill · 10-06-2008, 05:10 PM

I'm bumping this thread because something happened to me that you guys may find interesting.

long story short. I'm selling my house and I got an offer for what I'm asking. I went to get pre-approved for a new mortgage cause there's a house I like coming up for auction. I got a disclosure thing in the mail this morning because of the passed bail-out thing. and it basically says that if I am looking for a mortgage above 417,000 I would qualify for a dirt cheap interest rate....unfortunately I'm not looking for a 400,000 plus mortgage but it makes me wonder who this whole bail out thing is really supposed to be helping.

BIRD33 · 10-06-2008, 05:15 PM

I'm not following what you mean.Do you think they havent fixed the problem?

Bill · 10-06-2008, 05:23 PM

BIRD33 Wrote:I'm not following what you mean.Do you think they havent fixed the problem?

Oh I was never in favor of the whole idea to begin with but I find it interesting that they're lowering rates for people with 400,000 dollar mortgages which I'm sure at least 75% of the American population has.

BIRD33 · 10-06-2008, 05:38 PM

I'm slow on this.Why do you think they are doing that?

Bill · 10-06-2008, 05:42 PM

BIRD33 Wrote:I'm slow on this.Why do you think they are doing that?

oh I know where you're trying to make me go with this.
business owners are going to be the one's with those types of mortgages, they need/want to free up money for these folks so they can borrow more and infuse the market with more paper but it doesn't solve the problem of liquidity that the market has yet to deal with.

BIRD33 · 10-06-2008, 06:16 PM

Bill Wrote:oh I know where you're trying to make me go with this.
business owners are going to be the one's with those types of mortgages, they need/want to free up money for these folks so they can borrow more and infuse the market with more paper but it doesn't solve the problem of liquidity that the market has yet to deal with.

I love the sinister motives you attribute to me.I really didnt know what your point was.My whole reason for supporting the bailout is we need a short term solution in order to avoid a long term catastrophe.Its not perfect but we need to keep business moving forward.

Do you have to sell your house now?Why not wait?Are you happy to just be able to sell it?

Bill · 10-06-2008, 06:46 PM

BIRD33 Wrote:I love the sinister motives you attribute to me.I really didnt know what your point was.My whole reason for supporting the bailout is we need a short term solution in order to avoid a long term catastrophe.Its not perfect but we need to keep business moving forward.

Do you have to sell your house now?Why not wait?Are you happy to just be able to sell it?

na, I don't have to sell my house. Mrs Bill is trying to start her own business and rather than borrow money I'm kinda down sizing. I wasn't going to accept less than what I put it on the market for. end of story.

BIRD33 · 10-06-2008, 06:50 PM

My sisters selling outside of DC.She's fucked,lucky to break even.Other sister outside Baltimore sold six months ago, made out good and now the house is worth at least 80 grand less.

Bill · 10-06-2008, 07:58 PM

BIRD33 Wrote:My sisters selling outside of DC.She's fucked,lucky to break even.Other sister outside Baltimore sold six months ago, made out good and now the house is worth at least 80 grand less.

I'm in a place geographically, that has held it's prices and desirability quite well. I probably could have sold my place for 280,000 at the height of things. Now I'm getting 270,000. it's 10g less but that's nothing to cry over. especially when I've got 60% of that value mortgaged.

BIRD33 · 10-06-2008, 08:11 PM

You're lucky.I'd sell as fast as I could if I was you.

cLaY · 10-06-2008, 08:28 PM

Things are great around here. Home prices are steady, sold my old home in two weeks.

Oh yeah, gas prices are at 3.09 today.

BIRD33 · 10-06-2008, 08:35 PM

$3.27 near me and thats as cheap as its been in a while.Its the election thats keeping it down.

Bill · 10-06-2008, 09:50 PM

yeah it's a good thing the bail out bill got passed on friday. Imagine how far the dow would have fallen today if it hadn't....they might have shut the stock market down....

BIRD33 · 10-06-2008, 10:28 PM

Bill Wrote:yeah it's a good thing the bail out bill got passed on friday. Imagine how far the dow would have fallen today if it hadn't....they might have shut the stock market down....

I heard that was a serious concern.

Don't tell 8, he's so above it all he's not effected by the stock market.

Bill · 10-06-2008, 10:46 PM

BIRD33 Wrote:I heard that was a serious concern.

Don't tell 8, he's so above it all he's not effected by the stock market.

he probably doesn't even know that they shut down wall street if it drops 1200 points in any one day.

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