gilthorp Posted September 30, 2008 Share Posted September 30, 2008 isn't that just robbing peter to pay paul? My concern is that it would be robbing Peter to pay Abdul. Quote Link to comment Share on other sites More sharing options...
i_am_the_swammi Posted September 30, 2008 Share Posted September 30, 2008 Yep - a local credit union just lent my wife and I money to buy a Honda Odyssey today. Love it BTW. Cool. We're looking at Odysseys too. [ :highfive: we bought ours in april. We have owned ours since 2004...will be paid in full this December. Quote Link to comment Share on other sites More sharing options...
Jimmy Neutron Posted September 30, 2008 Share Posted September 30, 2008 We have owned ours since 2004...will be paid in full this December. May I assume it's been rock solid and runs like a top to this day? Quote Link to comment Share on other sites More sharing options...
Azazello1313 Posted September 30, 2008 Share Posted September 30, 2008 tom coburn statement supporting the bailout bill: “Taxpayers deserve to know that there is no guarantee this plan will work, but there is a guarantee that we will face a financial catastrophe if we do nothing. If banks continue to fail and stop lending the average American could lose their job, be unable to secure a loan for a car, home or college education, and find their life savings and retirement in jeopardy. Our economy depends on having liquid assets available for credit and lending just as an automobile engine needs oil. If those liquid assets stop flowing, our economy will be seriously damaged and will require far more costly and lengthy repairs.” “This bill does not represent a new and sudden departure from free market principles as much as it represents an emergency response to congressional actions that have ignored free market principles, and our Constitution, for decades. If anyone in Washington should offer their resignation it should be the members of Congress who peddled the fantasy of free home ownership without risk. No institution in our country is more responsible for the myth or borrowing without consequences than the United States Congress.” “As much as members of Congress want to find scapegoats, the root of this problem is political greed in Congress. Members of Congress from both parties wanted short-term political credit for promoting home ownership even though they were putting our entire economy at risk by encouraging people to buy homes they couldn’t afford. Then, instead of conducting thorough oversight and correcting obvious problems with unstable entities like Fannie Mae and Freddie Mac, members of Congress chose to ignore the problem and distract themselves with unprecedented amounts of pork-barrel spending.” “Taxpayers who want to ensure that this doesn’t happen again should send a very clear message to Washington that it’s time for Congress to live within its means and restore the principles of limited government and free markets that made this country great. I will do everything in my power to ensure that this bill does not lead us down a slippery slope of European style socialism and slow economic growth. I will also promise taxpayers that I will do everything in my power to block what I expect will be hundreds of attempts by politicians in Washington to continue business-as-usual borrowing and spending in the next Congress. In a time of crisis, American families have to make hard choices between budget priorities. So should Congress. If politicians want to create new programs they should eliminate duplicative programs or reduce funding for less important programs. The only way we can put this crisis behind us is for Congress to rejoin the real world of budget choices and consequences which, as we have seen in recent days, can be ignored for only so long.” may carry some weight with house republicans, coming from the most staunch fiscal conservative in the senate. Quote Link to comment Share on other sites More sharing options...
CaP'N GRuNGe Posted September 30, 2008 Author Share Posted September 30, 2008 tom coburn statement supporting the bailout bill: may carry some weight with house republicans, coming from the most staunch fiscal conservative in the senate. That's a good statement. Coburn '08. Quote Link to comment Share on other sites More sharing options...
Sgt Ryan Posted September 30, 2008 Share Posted September 30, 2008 Some house republicans want that. Most don't. Neither does the republican president you elected. Let's not paint this as a democratic issue. kthx. Are you really this partisan, to believe no Democrat has ever done anything to negatively affect anything, and everything at fault is because of a republican. Sorry pal, the Dems have been a joke for 25 yrs. Clinton took credit for an economy that was laid before him, and W inherited a economy that was good, but souring because of legislation Clinton was responsible for. So you do not have a mortgage? You claim to be debt free? Or do you only speak of Credit Card debt, and not really debt free. If you do not have a mortgage, then you probably cant qualify for one, or dont make enough money to pay for one. Either way, that doesnt make you any better than someone who pays theirs. I have both a mortgage and credit card debt, and I pay my bills every month. I live in a "I want it now society". and Im willing to pay interest to get what I want, now. So what. As long as I pay my debt, what difference does it make. What sucks is I could go belly up tomorrow, and in 2 years my credit would apprach 700 again, just by establishing a solid 24 month payment history on my home and vehicle. This is what is wrong with things. I have friends that have filed for bankruptcy, and because of their income to debt ratio is so good, their credit score in 2 years after filing, is better than someone who decided to be responsible, and pay their debt each month, rather than resorting to bankruptcy. There shouldnt be any such thing as bankruptcy imo. You are on the hook for your debt forver. It doesnt just go away because you decide you dont want to pay anymore. Quote Link to comment Share on other sites More sharing options...
Egret Posted September 30, 2008 Share Posted September 30, 2008 Oil is down $25 over the past week. Dow is back up 200 points an hour into trading. Quote Link to comment Share on other sites More sharing options...
Cunning Runt Posted September 30, 2008 Share Posted September 30, 2008 Oil is down $25 over the past week. Dow is back up 200 points an hour into trading. There's gotta be some deals to be had... no? Quote Link to comment Share on other sites More sharing options...
moneymakers Posted September 30, 2008 Share Posted September 30, 2008 There's gotta be some deals to be had... no? Elmo Live Dolls Preorder 60 bucks sell for 100 all day long after Thanksgiving you do the math Quote Link to comment Share on other sites More sharing options...
i_am_the_swammi Posted September 30, 2008 Share Posted September 30, 2008 May I assume it's been rock solid and runs like a top to this day? Phenomenal vehicle, if mini-van is the way you have opted to go....the Caddy of its class. 66K in mileage, and haven't put a dime into it other than basic maintenance. Quote Link to comment Share on other sites More sharing options...
AtomicCEO Posted September 30, 2008 Share Posted September 30, 2008 There shouldnt be any such thing as bankruptcy imo. You are on the hook for your debt forver. It doesnt just go away because you decide you dont want to pay anymore. I agree. Tell that to the airlines, car companies, and banks. And take this whole bailout plan and toss it. Quote Link to comment Share on other sites More sharing options...
Azazello1313 Posted September 30, 2008 Share Posted September 30, 2008 one thing about all of this I would like to point out. if you talk to people on all political sides who know what they are talking about, probably 80% of them think this bill, in some form, is probably necessary. it is the people on both sides who DON'T know what they are talking about, spouting populist BS -- like wall st vs main st, greed run amok, karl marx has returned, etc -- who are opposed. in other words, when you've got wiegie and muck on one side of an issue, and atomic, h8 and moneymakers on the other side....well, I think you get what I'm saying. Quote Link to comment Share on other sites More sharing options...
CaP'N GRuNGe Posted September 30, 2008 Author Share Posted September 30, 2008 one thing about all of this I would like to point out. if you talk to people on all political sides who know what they are talking about, probably 80% of them think this bill, in some form, is probably necessary. it is the people on both sides who DON'T know what they are talking about, spouting populist BS -- like wall st vs main st, greed run amok, karl marx has returned, etc -- who are opposed. in other words, when you've got wiegie and muck on one side of an issue, and atomic, h8 and moneymakers on the other side....well, I think you get what I'm saying. I think what frustrates me the most is Congress going home for a couple of days in the middle of all this. It lends alot of creedence to their extremely low approval rating, regardless of your political leanings. Quote Link to comment Share on other sites More sharing options...
Pope Flick Posted September 30, 2008 Share Posted September 30, 2008 I think what frustrates me the most is Congress going home for a couple of days in the middle of all this. It lends alot of creedence to their extremely low approval rating, regardless of your political leanings. grunge - wake up: it's a Jewish Holiday. They wouldn't work on Christmas Day either. Quote Link to comment Share on other sites More sharing options...
driveby Posted September 30, 2008 Share Posted September 30, 2008 very interesting reading, in hindsight. yup. the Community Reinvestment Act basically forced lenders to lend money to minorities borrowers, who couldn't otherwise qualify. if the lenders didn't give away loan enough money to these minorities people, the lenders "report card" score was lowered which meant when they wanted to acquire another institution or build more branches they were denied the ability to do so. Lets call it extortion shall we? Quote Link to comment Share on other sites More sharing options...
CaP'N GRuNGe Posted September 30, 2008 Author Share Posted September 30, 2008 grunge - wake up: it's a Jewish Holiday. They wouldn't work on Christmas Day either. Given the economic situation, they should. Quote Link to comment Share on other sites More sharing options...
CaP'N GRuNGe Posted September 30, 2008 Author Share Posted September 30, 2008 yup. the Community Reinvestment Act basically forced lenders to lend money to minorities borrowers, who couldn't otherwise qualify. if the lenders didn't give away loan enough money to these minorities people, the lenders "report card" score was lowered which meant when they wanted to acquire another institution or build more branches they were denied the ability to do so. Lets call it extortion shall we? I posted a link somewhere that argued that the CRA while a part of the problem is an overblown scapegoat. The majority of the subprime lending was by mortage lenders that were not covered by CRA. Quote Link to comment Share on other sites More sharing options...
untateve Posted September 30, 2008 Share Posted September 30, 2008 grunge - wake up: it's a Jewish Holiday. They wouldn't work on Christmas Day either. I am not of the Jewish faith so I may have this wrong. I understand that it is the Jewish New Year. Is that different than the New Year that is celebrated on Jan 1st? Also, if a congressman/woman is not Jewish, their ass should be at work given how dire we have all been told the situation is? Quote Link to comment Share on other sites More sharing options...
CaP'N GRuNGe Posted September 30, 2008 Author Share Posted September 30, 2008 I am not of the Jewish faith so I may have this wrong. I understand that it is the Jewish New Year. Is that different than the New Year that is celebrated on Jan 1st? Also, if a congressman/woman is not Jewish, their ass should be at work given how dire we have all been told the situation is? It takes alot of chutzpah to stoke the public's fear and then go home for a couple of days. Quote Link to comment Share on other sites More sharing options...
driveby Posted September 30, 2008 Share Posted September 30, 2008 this is funny On Sunday, Sept. 28, ACORN National President Maude Hurd released the following statement after Congressional leaders announced a $700 bailout plan for Wall Street: “Members of Congress worked tirelessly over the weekend to rid Wall Street of its toxic assets, which are responsible for the worst financial crisis since the 1930s. Unfortunately, families who fell victim to Wall Street’s toxic lending practices and now risk losing their homes were largely left out. ACORN members are extremely disappointed that the bailout package does little to assist these homeowners, such as providing them relief through the bankruptcy courts. Although weak, there is language in the bailout package authorizing Treasury Secretary Henry Paulson to facilitate more loan modifications. ACORN members plan to hold Secretary Paulson accountable and ensure he uses this authority to make streamlined loan modifications a priority for struggling American families.” maybe it's not so funny after all Quote Link to comment Share on other sites More sharing options...
Pope Flick Posted September 30, 2008 Share Posted September 30, 2008 Given the economic situation, they should. The markets are rebounding and I'm not biting on what I consider to be a lot of hyperbole. A good chunk of this is a market correction and it's needed. Quote Link to comment Share on other sites More sharing options...
Chief Dick Posted September 30, 2008 Share Posted September 30, 2008 Can I still afford to buy a 12 pack today? Quote Link to comment Share on other sites More sharing options...
Big John Posted September 30, 2008 Share Posted September 30, 2008 Can I still afford to buy a 12 pack today? You can still afford the Busch Light. Quote Link to comment Share on other sites More sharing options...
Chief Dick Posted September 30, 2008 Share Posted September 30, 2008 You can still afford the Busch Light. Quote Link to comment Share on other sites More sharing options...
untateve Posted September 30, 2008 Share Posted September 30, 2008 Can I still afford to buy a 12 pack today? You can still afford the Busch Light. [snob]I guess if you don't want beer, Busch Light is just fine.[/snob] Quote Link to comment Share on other sites More sharing options...
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