700 billion dollars

old #7 · Sep 29, 2008

I am happy that some of our representatives were listening today.
I won't get bailed out if my business is in financial trouble. I will have to work my tail off to get back in the black.

There has been alot of good advice coming from poeple like former speaker of the house Newt, Mr Forbes, Donald Trump and more on Fox News (the only place to get news).
We do not NEED this and there is NO guaranty this will work.
The stock market, housing market and oil prices have all been very inflated lately. I think this thing should be allowed to correct its self.
We shouldn't be artificially propping up the markets.
They said the first round of bail outs would solve the problem but it didn't.
This won't either.

russ808 · Sep 29, 2008

+1 old#7, People need to take responsibility for their actions. You screw-up because your greedy, you should sink alone.

Guest · Sep 30, 2008

I keep wondering how we, as a country, find ourselves trying to shore up a market that is rife with bad business practices. I will add one counterbalancing factor - SOME of the issues are directly related to a legal compulsion at the federal level to provide the kinds of loans that are currently going south, so I don't necessarily thing we as a nation can just leave it alone. That said, $700BB is a lot of money, and writing that check with no real plan on how it is to be spent and what it is to accomplish (specifically) is a piss poor idea.

For perspective, I was laid off earlier this year. I could not find a job at my previous level of salary/commission, nor even a job in my prior industry. As such, I was forced to take a position at a significant pay cut. By significant, I'm talking a 40% cut in base pay, and a gross cut of about 60% in overall income for the time being, until I get this position 'up and running' so to speak. My wife has gone back to work full time, and we are selling everything we can, in an effort not to lose our home. Were I to find myself in default on my mortgage, I'd be completely ineligible for any assistance or relief. So here I sit, trying to avoid selling the guns my dad left me when he passed away, and trying to keep from losing everything I've worked for in my life so far. I just don't have a high level of sympathy for folks anymore, now that I've discovered that I am considered too well off for any kind of help, no matter what happens. Oh, and by the way, because my severance check was a lump sum, Unlce Sam graciously took 35% of it off the top - nevermind that I didn't have any income at the time and needed that money for food and utilities.

I'm not trying to be a whiner. I appreciate the chance to vent. It's on me (and no on else) to fix this. I just hope nobody gets in between me and my goal.

Woodycreek · Sep 30, 2008

I hope it all works out for you Dubyam.

Guest · Sep 30, 2008

It will work out, or I'll die trying, I can assure you. How I decide to work it out remains to be seen, as I have moments of thinking somewhere in the virtually unpopulated regions of Wyoming might be a good idea...

That does lead to a question:

Does anyone have leads on jobs in good areas to live (low cost of living and safe and decent) for a guy with a background in sales, marketing, and process management? I'm very good at what I do, and my resume shows it...

buckfever · Sep 30, 2008

Eastern Oregon is a nice place to live but jobs are few and far between.

old #7 · Sep 30, 2008

Dubyam,
I hope you don't have to sell your guns either.
Especially your dad's.
My father passed away 30 years ago and left all of us kids parts of his gun collection. In my early 20's I sold them to live on. I wish I never did that and I look for them all the time. It is one of the biggest regrets in my life.
If you get to that point I would be glad to "buy" them , if I can, and hold them for you to "buy" back at any time at the same price.
I wish you the best of luck.

Hegland · Sep 30, 2008

I cannot count the number of times I’ve heard the statement “the policies of the last 8 years put us in this mess.”

There was a NY Times article from September of 1999 talking about how the Clinton administration had pressed Fannie Mae to broaden their funding so that local banks could offer mortgages to people with inadequate credit or income. Several sources for the article predicted that while the practice could be sustained during economic growth, a decline would most likely force the government to provide a bailout similar to the thrift collapse in the 80s.

I would post the link if I still had it.