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So, now a $700 billion bailout? What happened to $300 billion? It wasn’t enough for the greedy politicians? Does everyone understand that this money is not going to help the people of the United States that are in financial trouble? But, it will help the rich on wall street. How much of this money will go straight to a politician’s pocket, kick backs, to some rich corporate owner, or CEO of the failing companies, some other country, or the like? As it was stated by Associated Press Writer JULIE HIRSCHFELD DAVIS, “Senior lawmakers and Bush administration officials have cleared away key obstacles to a deal on the unprecedented rescue, agreeing to include widely supported limits on pay packages for executives whose companies benefit.” All they are doing is limiting the pay packages for failing company executives??? Why would they get paid at all? If you were failing in your job do you think you would have a job for long…let alone get paid and get bonuses? Where is this money going to come from when we are already strapped for cash as a nation (due to our politicians I might add)?
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Or will they just raise taxes again on the legal citizens of this country? This country, due to our politicians, is already bankrupt…and, at least on paper, owned by other countries. Will they just print more money? How will that affect our economy? The politicians work on the “panic” propaganda to blatantly steal money from the American Legal tax payers. I heard President Joke state that the financial institutions will be willing to cooperate or something to that effect. Of course they will, they stand to gain. That is like saying that I would cooperate if they were to buy me a mansion and put a million dollars in a bank account for me…of course I would cooperate.
Now let’s think about how this plan is going to help distressed homeowners. If you are already being foreclosed, there isn’t much that can be done. If it assists you in refinancing, what good would that do? If you cannot afford the payment, interest only or regular mortgage, it would just prolong the foreclosure of your home. Maybe if you do another interest only loan, by the time it needs to be redone, you can sell the house. Well, let’s look at that to see how you will profit. In 1984 with
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the mild crash that we had it took 10 years just to get back to the original prices, and that wasn’t with interest only frenzy of recent years. So, do you think that you can hold out for 15-20 years to wait for the prices to get back to the artificially inflated level they were at in 2007? I don’t, but I am realistic. Let’s be honest about this “bailout.” It is an open invitation for the politicians to steal and give to themselves and special interests. If we as a people continue to allow the politicians to run this country, it will not be long before we are in the dump. We are undoubtedly already on our way. Personally, I think this had been planned out long ago by the powers that be…the question is, when does it end? And when is it enough?
Gone are the days when the homes sold before they were finished being built.
Article by
Brett Duncan-Creger
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