Go Back   Motorcycle Forum > Other > Motorcycle.Com Lounge

Reply
 
Thread Tools
Old 09-30-2008, 12:10 PM   #11
acecycleins
Founding Member
 
acecycleins's Avatar
 
Join Date: Jun 2007
Location: North Georgia
Posts: 4,129
Default

I'd rather watch the banking industry slam to a stop for the next 6 months before I'd start supporting this plan. The idea that our government can run or "oversee" this mess is a joke. These guys couldn't manage a budget, Social Security, Medicare or any other financial liability to save their lives. Suddenly, we're lead to believe that they have the answer.
I say let AIG crash, let Lehman Bros (heavily invested into AIG- do the research) crash, and certainly let the big banks gobble up the failing ones. This problem was created by stupid economic policy that made people believe that they were entitled to homes (they couldn't afford). You know what I say to those poor dumb masses- Too bad for you.
Instead of bailing out the people that managed the mortgage programs into the ground- the Fed should buy the foreclosed homes and start leasing them back to the families that live there. After five years or so the Mortgage Industry will have corrected it's blunders and the Fed could offer the leasees their homes for purchase again.
Hud could restructure itself into a Federal Housing Management agency and worry about collecting rent for those 10% of people that are going to be displaced from foreclosure. Seems like it would cost the taxpayer less money to pay for the foreclosures than for the bailout.
__________________
"Slack" - a state of being in which everything flows smoothly.....a frame of mind so at ease that the universe naturally cooperates.
acecycleins is offline   Reply With Quote

Sponsored Links Remove Advertisements
Motorcycle Forum
Advertisement
Old 09-30-2008, 12:15 PM   #12
BrowningBAR
Snuggles

 
Join Date: Jun 2007
Location: In a really, really, really old farmhouse
Posts: 4,369
Default

And do you really think $700 billion will be the final "bailout" when this is all done. I am hearing analysts talk about how TRILLIONS are needed to make a real difference.

Whether that number is true or not, it should be noted that if that is already being mentioned than you KNOW additional funds will be needed.
BrowningBAR is offline   Reply With Quote
Old 09-30-2008, 12:26 PM   #13
acecycleins
Founding Member
 
acecycleins's Avatar
 
Join Date: Jun 2007
Location: North Georgia
Posts: 4,129
Default

Quote:
Originally Posted by BrowningBAR View Post
And do you really think $700 billion will be the final "bailout" when this is all done. I am hearing analysts talk about how TRILLIONS are needed to make a real difference.

Whether that number is true or not, it should be noted that if that is already being mentioned than you KNOW additional funds will be needed.
That's why I said I wouldn't support it. Buy the distressed mortgages out-right and leasing back the properties would certainly cost us less money in the long run.
__________________
"Slack" - a state of being in which everything flows smoothly.....a frame of mind so at ease that the universe naturally cooperates.
acecycleins is offline   Reply With Quote
Old 09-30-2008, 12:31 PM   #14
longride
Super Duper Mod Man

 
longride's Avatar
 
Join Date: Nov 2001
Location: Anywhere they let me
Posts: 10,479
Default

For those that lived on the edge, it's time to fall over it. For those that didn't, it really isn't a big deal at all. I don't need credit. I can pay cash for whatever I need from here on in for many years. Too bad I didn't pi$$ all my money away on a large house and everything built on the equity, then I would be looking for a bailout too. Sorry, but I want this failure to happen from the greedy mortgage lenders to the greedy mortgage borrowers. Flip that house now eh?
__________________
I'm a knucklehead
longride is offline   Reply With Quote
Old 09-30-2008, 01:00 PM   #15
mscuddy
MODERATOR X

 
mscuddy's Avatar
 
Join Date: Jun 2007
Location: Next to my still checkin the temp.
Posts: 5,448
Default

Point taken about the sub-prime lending disaster, but how do you think throwing BILLIONS of dollars down a middle eastern rat hole every few months has done to hasten the demise of our economic viability?

And since China pretty much ownes the US economy, does anyone see a bigger plan to crush the United States not with bombs but with divesting all those Treasury bills they've been buying for the last 20years? Its already started with the oil producing countries basing prices on the Euro vs. the Dollar.

Call me krazy, but I see bad things on the horizon. And where'd I put my tinfoil hat?
__________________
A gun is a tool, Marian; no better or no worse than any other tool: an axe, a shovel or anything. A gun is as good or as bad as the man using it. Remember that.
mscuddy is offline   Reply With Quote
Old 09-30-2008, 01:21 PM   #16
seruzawa
The Toad

 
seruzawa's Avatar
 
Join Date: Nov 2001
Location: 8501 ft.
Posts: 17,461
Default

Update: Note that the DOW is up 400 points today. Where are those pieces of sky?
__________________
"Make no mistake, Communism lost a big argument - one we know today as the 20th century."
seruzawa is offline   Reply With Quote
Old 09-30-2008, 01:36 PM   #17
The_AirHawk
Founding Member
 
The_AirHawk's Avatar
 
Join Date: Jun 2007
Location: Leanin' Tower O' P-P-P-P-POWAAAAAAAAA!!!!
Posts: 11,491
Default

Quote:
Originally Posted by seruzawa View Post
Update: Note that the DOW is up 400 points today. Where are those pieces of sky?
Well, because my Mill is over 200' tall, I've been spending all day long on top of it with a nailgun - ka-chink, ka-chink, ka-chink - they just hand me a piece, I "ka-chink" it back in place, then on to the next one............


__________________
Parfois, on fait pas semblant
Sometimes, it's not pretend
Oderint Dum Metuant
Let them hate so long as they fear
политики предпочитают безоружных крестьян
Politicians Prefer Unarmed Peasants
Nothing to see here, Citizen. Move along now...
The_AirHawk is offline   Reply With Quote
Reply


Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off