How do you view the housing rescue bill?

Question

How do you view the housing rescue bill?

Answer 1

Not good....not good....

This will cost the US taxpayer trillions once the dust settles. The billion dollar public media releases are only to smooth things over for now. Politicians are saying trillions, maybe 10s of trillions with this bill. As with Bear Sterns, they don't have to promise to pay a dime back to the tax payer. They get the money, and no real conditions except maybe lowering the CEOs paycheck. but like most CEOs who claim to have low pay checks, they have millions a year in stock options, bonus and under the table pay that is general public information. Nothing will change except those who lied and cheated to get people into mortgages that should not have occurred , will walk away free, and very, very wealthy.

The BIG prroblem is, the tax payers don't have trillions. The Fed is going to PRINT those trillions. That means the money, everybody's money, will be worthless.

Oh goody........

Answer 2

It's bad.

People and banks should be responsible for their choices and actions, and my tax dollars shouldn't go to bail them out.

And, I don't remember the banks kicking any money over to me when they were doing good, so why should my tax money go to them when they are doing bad?

Answer 3

I think it demonstrates an ever increasing overreaching of the government, and also did you notice they slipped in tracking Credit Card purchases in the bill, pretty sneaky.

Whatever happened to personal responsibility, and if you signed up for the house you could not afford why should the rest of us have to pay for your poor choices, reminds me very much of baby momma drama.

Answer 4

Got to love that slipped in there permission to track all credit card transactions, reported directly to the IRS!

Got to love the debt created overnight.

Got to love private losses getting socialized. So much for you and I avoiding our own financial risks to avoid loss, others losses will get pinned on us anyway.

This is what, the 7th bank failure this year?

Answer 5

I don't much like it, but I understand why they are doing it.

f***y may and freddie may own over half the mortages in the US.

Quite simply, we cannot let them fail.

But we do need to change the law, that allowed them to purchase mortages, no matter how risky they were.

We have to blame Congress for that law.