I want this bailout stopped now!!!
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| Wed, 10-01-2008 - 3:45am |
I Am Angry!!!
People bought houses they knew they could not afford from banks who knew they couldn't afford them. On top of that the derivitives/hedge funds are off the charts (huge amount more than this housing problem)
Well, I did not buy a house or purchase anything on credit. I work paycheck to paycheck already being overtaxed, paying high gas prices, high groceries, high rent, HIGH EVERYTHING! Now because of the banks greed- and YES....this is their responsibility. They gambled and they LOST! They just want us to be the ones who pay for their GREED! Our government wants us to pay for their greed! Many countries want us to pay for their greed! THIS IS WRONG!!!!!
This bailout proposal (and NO- it IS NOT A "RESCUE PLAN" no matter how they want to sugar-coat it) does nothing to help me or most other americans. It's directly wanted to help the guilty!
What more do you want from us????? This government has stripped us of our freedoms our fourfathers and many others fought for, they have allowed these corporations to send our jobs overseas in order to pay pennies on the dollar for slave labor with no rights or protections, they lay tax upon tax, upon tax on paychecks, bills, gas pumps, and everything else.... our purse has been pried open because they might have missed a nickle. So many families homeless, so many others can't put food on the table.
I want to know why WE (the innocent) are expected to bare the burden when we have lost so much more. Other countries suffer because they expect us to buy up their imports- WITH WHAT?????? Our country has made sure to strip anything away from us. People started living on money they didn't have. They still had families to feed. Corporate america took their money and their jobs with our governments blessing!
NO BAILOUT!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

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If you think it's all as simple as that, you haven't been paying attention to the whole picture.
http://llhaesa.org/
Full length fiction: worlds undone
"You have no power over my body..." ~ Anne Hutchinson
Yea...I don't know why I have to pay for someones house when I knew better and didn't buy one.
Most of the banks which originated the loans don't own them any longer. Most loans (as you will likely know if you've had a mortgage over the past 5-7 years) have been sold multiple times in recent years. And on top of that, they've been mixed in with OTHER mortgages and packaged as investments - credit derivatives. This means that the holder of the paper who paid so much (most of it with money they did not have, but on margin, instead) can't simply "lower your mortgage" because they're not the official holder/servicer of your actual mortgage, only of the "security" which was derived from it by the use of these grand, fancy new investment vehicles which were invented as a result of Phil Gramm's deregulation of the banking and insurance industries. The Glass-Steagall act was mostly demolished by the Gramm-Leach-Bliley act, and it's been since then that these "innovative" financial products have shown up - and gone bananas.
Perhaps this will help make it more clear.
A myopic response which indicates you either don't understand the full ramifications of the situation, or you do understand and simply don't care.
If this was just about a company or three which would go down the tubes, I'd be right there with you.
Well, said.
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