What Economist Are Saying About The Bailout

[bclift65706]

Uhhhh.....Okaaaayyy. Am I the only one that thinks that is a REALLY bad idea?

just imagin the great depresion in todays world.

[trout fanatic]

I have waffled back and forth over this issue ever since it first surfaced. On the one hand I say lets just start over let the big boys take their a$$ whoopin like men. The reality is however, that it won't be the big boys that take one on the chin-like in every endeavor, it will be us. It seems like it boils down to a bail out for them or no 401k's for us (once foreign investors pull out of the stock market we are toast). As much as I hate to admit it, I think a bail out is in order.

[Seth]

Uhhhh.....Okaaaayyy. Am I the only one that thinks that is a REALLY bad idea?

I know it sucks, but I've read too much saying that the problem just come right back again....except that we will be 700 billion more in debt on top of that. It's just going to get A LOT worse before it gets better.

401k's, stocks, and every other investment is basically a risk and not a guarantee. I feel sorry for the ones who are really getting punished by all of this, but there was always the chance something like this could happen. Luckily I'm young enough to have time on my hand during this bad time. If the market tanks though, the people who were smart and held back cold hard cash are going to come out ahead in the end because there are going to be some awesome deals to be had.....and this is exactly what I plan on doing during the whole debacle.

I still think that throwing money at the problem isn't going to fix anything unless they make it A LOT tougher for people with bad credit to get loans. People can't take the responsibility on their own to borrow what they can pay back so somebody needs to make it to where they can't do it so easily. If you want to get a loan, then save 20% down and THEN go talk to the bank. If people were forced to have 20% down upfront then most of these problems wouldn't be happening.

The fact that the big companies are getting bailed out fries my rear end. If they can make all the millions building the company up, then they can lose it all by having the company tank. It's freakin ridiculous to us tax payers!

I'm definitely not an economist, but this is just my personal opinion.

[bigredbirdfan]

I'm definitely not an economist, but this is just my personal opinion.

I'm sure this explains it. I am probably one of the biggest conservatives there is but buddy you wouldn't have a pot to piss in if this hadn't passed today. Sorry Trav. I have to respectively disagree with some folks on this bailout.

[Leonard]

most everyone is talking about people get into bad mortgages...

when we first got out home.. the payments were $660.... our first year (Feb) they sent us a $750 "overpayment" check..

In April they sent us a letter stating that the payment was to go to the INS company.. Well we call the ins and we were all paid up. call them back and 2 days later they called us back and said there was a mistake of them sending out over 1500 checks... Then they want the money back.

What we did was reinvest it back into the house (made a payment with it)... well to them we used the money for our own personal use. Well this put us behind a payment.. In May our mortgage went up to "cover" the cost of the overpayment.

From $660 to $780... $120 doesn’t sound like much to most, But with the new baby in the house... car breaking down.. 3 surgeries.. and medical ins that does cover a hospital visit for a 4 year old..

Every one knows my wife is a RN at the hospital... yet her ins DOESNT cover our son on a visit... she pay out over $350 every 2 weeks for this INS through the hospital......

we have another 2 payments left and our house payment goes back down (hopefully)....

You can say what you want about bad credit... but when it does hit it hits hard!!!

Oh... here is something else that happened this year... someone at our mortgage company use our debit card number to pay "their" bills.. get gas and went shopping... Yes we did prove we were not in Georgia at the time they got over $300 in gas in 2 days (they did find who did it)

What is the worst part about all of this.. is our credit score has went down because of a few payment that were late... we are unable to refinance the house to get out from under this company... So what did we do?

Leonard

[troutchaser]

What is the worst part about all of this.. is our credit score has went down because of a few payment that were late... we are unable to refinance the house to get out from under this company... So what did we do?

Leonard

Unfortunately, I don't think there's much you can do now. Six months ago maybe you could have, but the credit crunch will hit folks just like you square in the chin. I would really encourage you to write the Missouri Attorney General about this company, though. Identity theft and "oops, we need that money back, please" both point to some shady business practices and neglectful management. Maybe the government can help you get your mortgage moved to another company.

[The Caddis]

Does anybody go fishing anymore?

[Seth]

I'm sure this explains it. I am probably one of the biggest conservatives there is but buddy you wouldn't have a pot to piss in if this hadn't passed today. Sorry Trav. I have to respectively disagree with some folks on this bailout.

Hello socialist America!

I'm not up to my neck in debt so how would it affect me aside from being tougher to get a loan? The people it effects are the ones who have everything they own wrapped up in "credit" instead of actually paying cash for something. All I can tell now is that I get to pay money for other peoples screw ups just so I can go out and get financed for a loan that's way more than I can afford to begin with?

Go back to the way it was in the 80's like another guy said. I was just a little feller during that time so I didn't experience it for myself, but if people made it by fine during that time, then they should be just as good today and there would be a lot less foreclosures and other BS that got the country in to this mess.

[Seth]

Does anybody go fishing anymore?

Not lately...been shooting deer and turkeys though.

[strangercreek]

I still think that throwing money at the problem isn't going to fix anything unless they make it A LOT tougher for people with bad credit to get loans. People can't take the responsibility on their own to borrow what they can pay back so somebody needs to make it to where they can't do it so easily. If you want to get a loan, then save 20% down and THEN go talk to the bank. If people were forced to have 20% down upfront then most of these problems wouldn't be happening.

Seth, I couldn't agree more. Not everyone in this country automatically deserves home ownership. If you don't have the money for ownership, you rent, if you don't have the money for a new car, you get a used or cheaper one. This entitlement things goes way to far.

I would like a $100,000 Dodge Viper and the most expensive fly fishing gear money can buy, but does that mean that some organization or the goverment should make sure I can get my hands on it just because someone else who is better off has it? Absolutely not. This is my simple view of the situation.

I know the Viper is a ridiculous comparison, but my that is my point. I can afford a vehicle, and I have a home, but I don't feel entitled to what others have (that are better off financially than I am). I see things I would like to have all the time, but I the way I see it, I get out of life exactly what I put into it.

Jason