A nice article in OregonLive.com, which echoes the sentiment of many, regarding the Mortgage Bailout. Basically asking the simple question “what about all the people who bought houses, have been budgeting, cutting their expenses, and paying their mortgage ON TIME??? What about the people who know how to live within their means? But back to…
Tag: bailout
More Bailouts: Auto Industry
This is getting ridiculous. I ranted about the bailouts before, I’ll do it again. SAY NO TO THE BAILOUTS! Now, Pelosi and Co. want to bailout the auto industry. ARE THEY FREAKIN’ NUTS!?! The most sensible comment on this actually came out of the White House: White House spokeswoman Dana Perino said the companies had…
Roubini: “the worst is ahead of us”
Economy guru and professor at NYU, Nouriel Roubini gave a presentation in London, and basically said the worst is yet to come. Roubini, back in 2006, accurately predicted that the US will fall into a recession. Back in February, he predicted the financial market meltdown. Some quotes from the conference: We’ve reached a situation of…
Nobel Prize Winners, Republican Conservatives Oppose Bailout
And rightly so. From ABC News: Some Chicago economists are leading an opposition movement to get lawmakers to consider other options. Two economists lead the opposition movement, one from the University of Chicago, the other from Northwestern University. And Thursday their concerns were brought into the White House meeting. Senator Richard Shelby went to the…
Washington Mutual No More!
Wow! A 119 year old bank, WaMu has been seized by the government and sold off to JPMorgan. A major consolidation is happening in our financial markets/banking system. And they just built a WaMu location a block away from me, set to open next month.
Wiki On Subprime Mortgage Crisis
A nice, continuosly updated, writeup on Wikipedia on the current Financial Meltdown and Credit Crisis can be found here.
Paulison’s Unconstitutional Bailout Proposal
From The Nation: Under Paulson’s draft plan, Congress and the courts would have been barred from reviewing or challenging his moves to stabilize financial markets — effectively making him the nation’s economic czar. That’s not just a dangerous power grab for economic and politic reasons. It’s unconstitutional. So basically, this man is looking for $700…
More Bailouts Using Taxpayer Money
Welcome to the Free Market system, where whatever happens, happens, until it’s the very wealthy that’s affected. I’m tired of these taxpaper bailouts for businesses who knowingly made foolish bets. The fact of the matter is, loans were given to unqualified borrowers. Those loan contracts were then sold off in the form of securities to…
Fed Bear Stearns bailout an ominous sign
Great article on how the government is ok with bailing out, providing tax breaks, and subsidies, to large corporations, using YOUR MONEY. But when it comes to you and helping you during hard times, you get nothing, because helping you is deemed too expensive. Bear Stearns is too important to allow to fail, but millions of homeowners can…