$700bb Bailout/Rescue

Eric:

Thanks for posting the link to the factcheck.org article….. very informative. There is enough blame to go around. and the roots of the crisis go back to the 1970′s. Wow.

It’s amazing how all the decisions over time combine to create the “perfect storm”.

It’s nice to cut through the partisan “spinning” and get the basic facts. Thanks again.

If banks get off their butts and work with homeowners to perform more short sales the market would probably be alright. Lenders are allowed to flip REO’s but not private investors. Not the best situation to clean up the market. We need big brother to loosen up so investors can come in and flip properties to first time home buyers.

Lenders use appraisers so they should be able to trust the fact that investors aren’t fluffing numbers.

This is an old problem it goes back to “greed is good” and although capatilism is here to stay at least for a while this is a timely reminder that if you take doing the right thing completely out of the equation then it will eventually attract enough unscrupulous risk takers to the market place.
We must put controls into the markets to ensure that future trade must be conducted for the greater good of the people.

This is not the problem which came at once and shattered the world economy. This is the result of the bad lending modes which these back followed and now see where we are heading.

This isn’t the result of free market capitalism. Everything is now favoring the “big boys” and not local businesses. It’s a rather common sense matter. If you send money overseas, you are not helping your neighbor. If you don’t help your neighbor, they will have less money. If they have less money, they won’t be able to buy things.

Thanks,
Grant
http://www.pollets.com

Grant,

I think this is capitalism. We’d probably be better off if they get rid of money all together. I’m sick of these problems that we hear about every day.

I think there needs to be more of a push to doing business with local businesses. Otherwise, it’s taking money out of the local economy.

Sorry, I thought my comment didn’t post. Sorry for the repeat comment.

That’s the problem with politics both parties point the finger at each other and fail to solve anything. There is plenty of blame to go around each party but rather than blame we need leaders who are going to do right by the American public.

I agree with ‘Sell my House’. The banks are not helping. By repossessing more properties the home owner and the banks lose.

But this gives opportunity for property investors to buy more repo houses at cheap prices. Repo buyers are of the few that are helping the distressed property owners because the banks are not doing their bit.

Now the Gov is helping the banks, but the banks are not helping the mortgage owners!

Grant is right, if all the big businesses are allowed to send their jobs overseas then there is less money circulating around the US. The unemployment rate is climbing so those businesses that outsource should be taxed money dollars, in fact double taxing should be minimum.

Give them an incentive to keep things domestic.

Donte Mazyck
http://www.buyersofcharlotte.com/blog

Hi,

Lots of great points.
Here is what we are hearing is going to happen..eventually.
The de-facto solution that the lenders will be forced to adopt will be:
1) Short sales. Watch for lenders to streamline the SS process..with the gov back stopping the loss.
2) Loan Mods. This is going to be a huge growth industry for certain. Looks like the FDIC is spearheading loan mods. For the most part this will result in lowered rates, extended terms but, not principle balances being lowered.
Hope this helps!
Tim

While it is a must-do to prevent another great depression from happening. I disagreed that the funds should be giving to companies that have out right taken advantage of the public and line their pockets these past few years. But what other choice do we have, if not this.