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#1049786 - 09/24/08 08:57 PM
Re: Wall Street Bailout - another plan
rainman
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Power Poster
Joined: Feb 2005
Posts: 6,559
Foxboro
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FHA currently has the "FHA Secure" program out there which is supposed to allow bororwers currently delinquent and in non FHA arm loans to refinance into an FHA product. The problem is none of the investors will buy them.
Rainman-you are right on the money. I have said all along for those that were truly decieved, they should have some recourse. Most people went in thinking 2 things: 1) values will continue to rise; 2) my home is not a long term investment, it is an ATM machine to cash out of when I want a boat.
Last edited by Sox in 07; 09/24/08 08:59 PM.
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#1049902 - 09/24/08 10:13 PM
Re: Wall Street Bailout - another plan
Pale Rider
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Power Poster
Joined: Jun 2001
Posts: 8,272
Where the heart is
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...and when will we see our share dividends from these two???? didn't I use the correct term bonnie?[/quote] Actually you mixed your account metaphores as you initially asked would my deposits be the $400,000 in social security and medicare taxes I have paid? which is the comment to which I had responded.
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Regulations are a poor substitute for ethics.
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#1049907 - 09/24/08 10:15 PM
Re: Wall Street Bailout - another plan
Princess Romeo
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10K Club
Joined: Aug 2002
Posts: 34,318
under the Lone Star
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literalist!
I just want my money back!
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#1049944 - 09/24/08 10:35 PM
Re: Wall Street Bailout - another plan
Pale Rider
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Power Poster
Joined: Jun 2001
Posts: 8,272
Where the heart is
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literalist!
I just want my money back! I'd rather be a literalist than a figurativist! I looked at my 401(k) balance and now feel quite ill. So looks like plan "B" for my retirement is closer than I think - the plan that includes the phrase "Would you like fries with that?"
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Regulations are a poor substitute for ethics.
Just sayin'
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#1049998 - 09/25/08 02:27 AM
Re: Wall Street Bailout - another plan
Princess Romeo
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10K Club
Joined: Aug 2002
Posts: 34,318
under the Lone Star
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ugh!!
me too! I have lost 26% this year.
I am being measured for my little blue vest and practicing: Would you like a cart?
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Societies that do not find work in and of itself "pleasing to God and requisite to Man," tend to be highly corrupt.
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#1050173 - 09/25/08 02:30 PM
Re: Wall Street Bailout - another plan
TB 12
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Diamond Poster
Joined: Dec 2003
Posts: 1,338
Wisconsin
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Got this in an email today -- through it was pretty creative
Alternative to Bailout
I'm against the $85,000,000,000.00 bailout of AIG. Instead, I'm in favor of giving $85,000,000,000 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 mill ion adults 18+ into $85 billion that equals $425,000.00. My plan is to give $425,000 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 $127,500.00 in taxes. That sends $25,500,000,000 right back to Uncle Sam. But it means that every adult 18+ has $297,500.00 in their pocket. A husband and wife has $595,000.00.
What would you do with $297,500.00 to $595,000.00 in your family? Pa y off your mortgage - housing crisis solved. Buy a second home - stimulate the economy. Repay college loans - what a great boost to new grads. Put away money for college - it'll be there. Pay off credit cards - more disposable income to invest or purchase goods and services - stimulate the economy. 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 ( "vote buy" ) economic incentive that is being proposed b y one of our candidates for President. If we're going to do an $85 billion bailout, let's bail out every adult US Citizen 18+!
As for AIG - liquidate it. Sell off its parts. Let American General go back to being American G eneral. 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 AIG doesn't. Sure it's a crazy idea that can "never 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 $85 Billion. We Deserve It Dividend more than I do the geniuses at AIG or in Washington DC. And remember, The Family plan only really costs $59.5 Billion because $25.5 Billion is returned instantly in taxes to Uncle Sam.
Ahhh...I feel so much better getting that off my chest.
Kindest personal regards, , A C reative Guy & Citizen.
PS: Feel free to pass this along to your pals as it's either good for a laugh or a tear or a very sobering thought on how to best use $85 Billion!!
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#1050188 - 09/25/08 02:40 PM
Re: Wall Street Bailout - another plan
CSB98
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Platinum Poster
Joined: Feb 2003
Posts: 875
Big Sky Country
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One small problem... $85 billion divided by 200 million is only $425.
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#1050189 - 09/25/08 02:41 PM
Re: Wall Street Bailout - another plan
CSB98
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10K Club
Joined: Nov 2003
Posts: 12,846
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So divide 200 mill ion adults 18+ into $85 billion that equals $425,000.00. My plan is to give $425,000 to every person 18+ as a We Deserve It Dividend. Somebody needs to run those numbers again.
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#1050208 - 09/25/08 02:51 PM
Re: Wall Street Bailout - another plan
Jokerman
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Joined: Jul 2004
Posts: 18,989
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<---- good at math!
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#1050223 - 09/25/08 03:01 PM
Re: Wall Street Bailout - another plan
A_G
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Power Poster
Joined: Feb 2005
Posts: 6,559
Foxboro
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^^^^^likes to count goats
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#1050224 - 09/25/08 03:02 PM
Re: Wall Street Bailout - another plan
TB 12
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Joined: Jul 2004
Posts: 18,989
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...see that's where you're wrong, sir
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#1050251 - 09/25/08 03:15 PM
Re: Wall Street Bailout - another plan
A_G
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Power Poster
Joined: Feb 2005
Posts: 6,559
Foxboro
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I meant buffaloes...  HUG?
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#1050253 - 09/25/08 03:15 PM
Re: Wall Street Bailout - another plan
TB 12
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Joined: Jul 2004
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Not after the amount of time you 'hugged' me yesterday... 
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#1050267 - 09/25/08 03:21 PM
Re: Wall Street Bailout - another plan
A_G
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TX
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