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Post by Frater G on Oct 3, 2008 12:28:49 GMT -5
How does everyone here feel about this bill? Is this a temporary fix for what might be an eventual economic collapse? Will this set a precedent for future legislation?
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Post by vajramukti on Oct 3, 2008 15:21:11 GMT -5
How does everyone here feel about this bill? Is this a temporary fix for what might be an eventual economic collapse? Will this set a precedent for future legislation? I have several problems. First, it got this far. Everyone in Washington is blaming the other side. But we have a republican administration and a democrat congress. And we, ourselves, should have known better. I don't like the bailout. My feeling, as someone who took out a ARM, then refinanced after two years, is that a bunch of people who chose to not do it right are getting bailed out, and I will get nothing. (I meaning everyone who did it right) If the govt. buys my mortgage for 10 cents on the dollar, I want the option to buy it from the government at that price. As a matter of fact, I want the option to buy any mortgage that they buy at auction. Second, if it is true that companies like AIG, Lehamn, Fannie, and Freddie are so big that their failure affects the world market, then I believe they have exceeded the parameters set forth in our constitution making them a monopoly. This is one of the things that clause is supposed to keep from happening. So, if we bail them out, they should expect to be broken up into smaller, manageable entities. |
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