Bailout Plans - Clinton's Versus Bush's

[metta]

I have been told that when we were in the Great Depression, that the government worked with homeowners directly to help them keep their homes. In the end, the government actually ended up ahead. Hillary has suggested something similar in her own plan. Some think that the government should do this again rather than dump $700 billion dollars into the private companies. What do you think is a better direction?

http://iamfacingforeclosure.com/blog/2008/03/25/hillary-clinton-proposes-new-mortgage-bailout-plans/

Breakdown of Hillary’s Proposals

• 90-day foreclosure moratorium
• Freeze the interest rates on subprime ARMs for at least five years
• Allow the FHA to guarantee up to $400 billion in refinanced mortgages
• Put underwater mortgages on the government’s balance sheet on a temporary basis
• Introduce legislation to protect mortgage servicers from investor lawsuits
• Create a $30 billion stimulus package to allow cities and states to purchase foreclosed properties
• Set aside $10 billion to expand the mortgage revenue bond program
• Create a “high-level emergency working group” to brainstorm more ideas to help ease the foreclosure crisis

 

[metta]

Breakthrough Reached in Negotiations on Bailout

http://www.nytimes.com/2008/09/28/b...gin&adxnnlx=1222589210-1QJuO/HfrJZfsSP6obu9rw




Thank you eM

 

[mike_n_herrin]

I like Clinton's plan better.

 

[metta]

My friend told me that many economists say that the bailout plan that the Bush administration is proposing will make things worse in the the long term. He told me that there are economists that have said that they are pulling their money out of the stock market because it will get worse....eeeekkkk...

Now I see the stock market is down big time, the value of the dollar is dropping more.....eekk it is ugly out there.

Stocks Worldwide Tumble Most Since 1997, Bonds Rise on Bailouts
http://www.bloomberg.com/apps/news?pid=20601087&sid=ata.YNw9K7y0&refer=home



We need to push the elections up to today, get the new pres in now and get bush to resign today. Can't we just fire him and his administartion for incompetence?

 

[metta]

Calculated Risk Fear Index...


https://self-evident.org/?p=247

 

[metta]

http://wallstreetexaminer.com/blogs/winter/?p=1918

the US Government is facilitating the greatest asset grab of securities since Alexander Hamilton’s agents and cronies picked off the Continentals from the Rubes back in 1790.

 

[metta]

Nouriel Roubini, Prescient Economist Known as “Dr. Doom,” Says Bailout Process Is a Disgrace



http://daytonos.com/?p=3428

His predictions now all seem to be coming true, and the writings and opinions of Dr. Roubini are now urgently listened to.
It is disturbing that Dr. Roubini, on his web-site today, says, “It is a disgrace that no professional economist was consulted by Congress or invited to present his/her views at the Congressional hearings on the Treasury rescue plan.”

Roubini's Own Plan
http://www.rgemonitor.com/roubini-m..._10_step_plan_to_resolve_the_financial_crisis


http://www.dailykos.com/story/2008/9/29/11196/7948/21/614249


From the guy who I wanted to be pres....you guys make fun all you want...but he shoots from what he truly beleives is the right thing to do.









.

 

[metta]

Congressman Jeff Flake Opposes Bailout

 

[sixthson]

Borrowers not paying their mortgages is a major part of the problem. So how does a 90 day foreclosure moratoreum help the economy? It only means you have millions of people living free-of-charge in homes they could never and will never be able to afford. When the 90 days are up, you still have people who cannot afford the homes they are in. Many mortgages are held by responsible banks, lenders and Savings and Loans. Who looks out for them?
Are the taxpayers expected to underwrite this loss to lenders in every foreclosure?

Also, the economists who are against this bailout and pulling their money from the market are against ANY bailout, not just the Bush version.

I think the bail out is a big mistake.

Either way, we are gong to have to bite the bullet.

 

[metta]

Vote expected soon...
http://www.justin.tv/cmbg


http://clerk.house.gov/evs/2008/index.asp


Needs 218 votes to pass.

Lets hope that it fails!!! I hope that this means that they can work on a plan that will make things better.


YEAH!!!! It looks like it is going to fail!!!!

Republicans voted against it.




Markets are pushing everything into cash! But it has more to do with global slow down than this bill.





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[star-warrior]

Well, at least you get oversight. Here, our Bradford and Bingley has been taken over by the government. It doesn't have any oversight, but will hold a share in the company, once the financial turmoil is over. That means the UK government will reap any financial gains in the distant future, if there is still any economy left.

 

[metta]

Congress needs to come up with a plan that respected economists would support. Lets hope that is possible.

 

[metta]

Oh my gosh...I think that is wrong....wall street wants to show congress how bad things are by pushing the market down more.

http://www.justin.tv/cmbg

 

[star-warrior]

Yay! for dithering.

 

[metta]

Many politicians were receiving more than 100 calls to 1 to NOT approve the bill.

 

[metta]

^
I'm a green party member, which is more liberal than democrats, but I do agree with you as well.

 

[star-warrior]

Why doesn't the government take shares in the companies/banks involved and then when the markets rebound, they can make a profit for the taxpayer, thus reducing the national debt by sheer market forces. Afterall, investors get dividends and profit when the markets are good, why shouldn't your government take a slice of corporate profit as a shareholder?

 

[grantt]

I have watched more of this bullshit than a person can take. Politics has got to get out of the way. Both sides are spewing blame everywhere and doing the man on the street no favors. I called my congressman to see how he voted. He's a Democrat and voted "no". I say fuck him. Something has got to be done and the little guy is getting screwed. This is a complicated problem and the regular guy is not getting it. They think it's only going to help the rich and that is soooooo wrong. It will hurt all of us in more ways than one can imagine. The finger pointing has got to stop and something has got to pass that House. When I go vote this November I will vote against any incumbent....any. My Congressman is one.

 

[metta]

Senator McCain announced that he blamed the bill's death on a failure of leadership from Barack Obama.

Barney Frank: "We have come together on a bill and because somebody hurt their feelings, they come together to hurt the country. I would not have imputed that degree of pettiness to the Republicans! Think about this: somebody hurt my feelings, so I will punish the country! I mean, that's hardly plausible! I'll make an offer: Give me those twelve people's names and I will talk uncharacteristically nicely to them and tell them what wonderful people they are, and maybe they now will think about the country," he said.

 

[grantt]

Thanks Jav1231.

People don't get it and the vocabulary that is being used is hurtfull.

I have seen protestors today around where I live that were wanting "the money" sent directly to the people like the check of earlier this year. Somehow they feel that a check to them for a few hundred bucks or even a few thousand (if it were that) would fix everything. The masses don't understand.