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Tonya
"Cyniquian" Level Poster
Username: Tonya
Post Number: 7533
Registered: 07-2006
Rating: N/A
Votes: 0 (Vote!) | | Posted on Sunday, September 28, 2008 - 03:57 pm: | 
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• Does this bailout cover student loans? (....If so, how? If not, why not?)
• If Fannie Mae once handled your loans will the bailout affect you even more?
• Do you have to be in default? |
Disciple724
Veteran Poster
Username: Disciple724
Post Number: 137
Registered: 07-2008
Rating: N/A
Votes: 0 (Vote!) | | Posted on Sunday, September 28, 2008 - 04:03 pm: |
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Tonya,
No! Because there is no market value for the education you recieved therefore no way for the government to recoup.
No, they will be buying bundles of mortgages, yours may or may not be in that bundle! |
Tonya
"Cyniquian" Level Poster
Username: Tonya
Post Number: 7534
Registered: 07-2006
Rating: N/A
Votes: 0 (Vote!) | | Posted on Sunday, September 28, 2008 - 04:10 pm: |
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My bad:
• If Sallie Mae once handled your loans will the bailout affect you even more?
(I think it's Sallie Mae. I gotta look at my records to be sure.) |
Tonya
"Cyniquian" Level Poster
Username: Tonya
Post Number: 7536
Registered: 07-2006
Rating: N/A
Votes: 0 (Vote!) | | Posted on Sunday, September 28, 2008 - 04:12 pm: |
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Thanks Disciple724! So it's only for mortgages, gotchu. |
Disciple724
Veteran Poster
Username: Disciple724
Post Number: 138
Registered: 07-2008
Rating: N/A
Votes: 0 (Vote!) | | Posted on Sunday, September 28, 2008 - 04:14 pm: |
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Basically, the government just were authorized to buy a bunch of loans (many bad) from foriegners and rich cats that many had become enslaved to for twenty some odd years.
They were happy to sell them back to the government because these slaves did have any jobs therefore they weren't making any money to free them from their debt.
The challange now is to either resell them at a profit ( no chance) or create jobs so the loans can be serviced ( best chance). |
Disciple724
Veteran Poster
Username: Disciple724
Post Number: 139
Registered: 07-2008
Rating: N/A
Votes: 0 (Vote!) | | Posted on Sunday, September 28, 2008 - 04:19 pm: |
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Tonya,
There is some grumbling about including those but for the reasons that I just set forth those are likely to be shot down, unless this move is successful. |
Tonya
"Cyniquian" Level Poster
Username: Tonya
Post Number: 7537
Registered: 07-2006
Rating: N/A
Votes: 0 (Vote!) | | Posted on Sunday, September 28, 2008 - 04:36 pm: |
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I'm against this bailout if I can't get bailed-out, that's bullshit! |
Disciple724
Veteran Poster
Username: Disciple724
Post Number: 140
Registered: 07-2008
Rating: N/A
Votes: 0 (Vote!) | | Posted on Sunday, September 28, 2008 - 05:51 pm: |
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You got bailed out( we all did) you just don't know enough about economics to realize it. |
Disciple724
Veteran Poster
Username: Disciple724
Post Number: 141
Registered: 07-2008
Rating: N/A
Votes: 0 (Vote!) | | Posted on Sunday, September 28, 2008 - 05:53 pm: |
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when your boss couldn't access his credit line to pay your weekly pay, your whole attitude would change. |
Tonya
"Cyniquian" Level Poster
Username: Tonya
Post Number: 7538
Registered: 07-2006
Rating: N/A
Votes: 0 (Vote!) | | Posted on Sunday, September 28, 2008 - 06:27 pm: |
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I trust Barack Obama halfway. I won't believe it until he makes that connection. I heard him talk about it this morning but not in detail. |
Disciple724
Veteran Poster
Username: Disciple724
Post Number: 143
Registered: 07-2008
Rating: N/A
Votes: 0 (Vote!) | | Posted on Sunday, September 28, 2008 - 06:50 pm: |
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He by far is best suited, and has the right vision. You are right, he is missing the details. He knows where we should be headed, and he wants to take us there, but he doesn't have the road map. I have been trying to give it to him but couldn't get through all the people around him. |
Urban_scribe
AALBC .com Platinum Poster
Username: Urban_scribe
Post Number: 704
Registered: 05-2006
Rating: N/A
Votes: 0 (Vote!) | | Posted on Monday, September 29, 2008 - 04:44 pm: |
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D724, I got this in an email last night, and I just heard the house said no to the bailout. I'm still interested in hearing your thoughts on the email I received. It follows in its entirety. Thx much!
I'm against the $70,000,000,000.00 bailout.
Instead, I'm in favor of giving $70,000,000,000 to America in a We Deserve It Dividend.
To make the math simple, let's assume there are 200,000,000 bonafide U.S. Citizens 18+.
Our population is about 301,000,000 +/- counting every man, woman and child. So 200,000,000 might be a fair stab at adults 18 and up..
So divide 200 million adults 18+ into $70 billion that equals $350,000.
My plan is to give $350,000 to every person 18+ as a We Deserve It Dividend.
Of course, it would NOT be tax free. So let's assume a tax rate of 30%.
Every individual 18+ has to pay $105,000.00 in taxes.
That sends $21,000,000,000 right back to Uncle Sam.
But it means that every adult 18+ has $245,000.00 in their pocket. A husband and wife has $490,000.00.
What would you do with $245,000.00 to $490,000.00 in your family?
Pay off your mortgage - housing crisis solved.
Repay college loans - what a great boost to new grads
Put away money for college - it'll be there
Save in a bank - create money to loan to entrepreneurs.
Buy a new car - create jobs
Invest in the market - capital drives growth
Pay for your parent's medical insurance - health care improves
Enable Deadbeat Dads to come clean or else
Remember this is for every adult U S Citizen 18+ including the folks who lost their jobs at Lehman Brothers and every other company that is cutting back. And of course, for those serving in our Armed Forces.
If we're going to re-distribute wealth let's really do it...instead of trickling out a puny $1000.00 economic incentive that is being proposed by one of our candidates for President.
If we're going to do an $70 billion bailout, let's bail out every adult U S Citizen 18+!
As for AIG, etc. - liquidate them. Sell off their parts. Sell off the real estate. Let the private sector bargain hunters cut it up and clean it up. Here's my rationale. We deserve it and they don't.
Sure it's a crazy idea that can work.
But can you imagine the Coast-To-Coast Block Party!
How do you spell Economic Boom?
I trust my fellow adult Americans to know how to use the $70 Billion We Deserve It Dividend more than the geniuses at AIG, Lehman, or in Washington DC .
And remember, The Family plan only really costs $59 Billion because $21 Billion is returned instantly in taxes to Uncle Sam.
Ahhh...I feel so much better getting that off my chest. |
Tonya
"Cyniquian" Level Poster
Username: Tonya
Post Number: 7539
Registered: 07-2006
Rating: N/A
Votes: 0 (Vote!) | | Posted on Monday, September 29, 2008 - 05:07 pm: |
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"You are right, he is missing the details."
That's not what I meant. I'm sure he discussed many of the details, but I only caught part of the program. (Your road map idea sounds interesting though.) |
Disciple724
Veteran Poster
Username: Disciple724
Post Number: 149
Registered: 07-2008
Rating: N/A
Votes: 0 (Vote!) | | Posted on Monday, September 29, 2008 - 05:24 pm: |
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urban,
I don't know about you, but that would shut this econmy down. Moreover, i know i don't want to be in certain neighborhoods when that deal happens. If you thought we went through a crack epidemic before...My God. Moreover just printiong money would just devalue the curreency to the point that all that you worked hard for would cheapened. I know a few cats that would move into certain neiborhoods and tht would not be preety.
Tonya,
Suppose obama were today to annouce that he would solove the subprime crisis, make sure that the taxpayers and american citizens would be the benificiaries by making it possible for them to own their own home within 12 years, and would solve our enegy plan and the infrastructure issues by creating domestic jobs in one swoop. Given the fact that the market have fallen 777 today on the failed bailout plan, How popular would he be right now? |
Urban_scribe
AALBC .com Platinum Poster
Username: Urban_scribe
Post Number: 705
Registered: 05-2006
Rating: N/A
Votes: 0 (Vote!) | | Posted on Monday, September 29, 2008 - 05:53 pm: |
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Thx for your speedy reply, D724. I'm nowhere near as familiar with economics as you obviously are, so I really value your perspective on that email. When it comes to economics, all I know is: if I leave home with $100 and return with $55, that means I spent $45. And that $45 usually goes on a pack of cigarettes, a couple of venti caramel macchiatos, lunch, Orbit gum, a package of pistachios, a magazine, and something to satisfy my sweet tooth. Perhaps not the best way to spend 45 bucks, but it keeps me sane... |
Tonya
"Cyniquian" Level Poster
Username: Tonya
Post Number: 7540
Registered: 07-2006
Rating: N/A
Votes: 0 (Vote!) | | Posted on Tuesday, September 30, 2008 - 12:01 am: |
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Palin-McCain is the gift that keeps on giving. Why interrupt that? I wouldn't get in the way. I'd tattoo the word "change" across my face and say NOTHING. |
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