Thread: 'Bailout' Question
#1 'Bailout' Question09-25-2008, 02:59 PM
If this has been discussed so far, apologies.
My question is whether or not (in your opinion) we, the taxpayers, should have something like collateral or a down payment from the entities that will be bailed out with our money? I mean let's say the sum total of the bailout comes to $1 trillion. If we were to ask for money from them, they would probably expect between 10 and 20 percent of the loan as a down payment, right? So do you think we should get $10 billion or so of cash and assets from Fannie Mae, Freddie Mac, AIG, etc to be put into the economy? Or should this bailout be down payment/interest-free? In other words, is this completely free money or a loan?
Savage has been talking about this the last couple of days, and I can't decide if its a good idea or not. I mean the whole point of the bailout is that these companies don't have a few billion to spare, but they have other assets like stocks and land, right? The CEOs have yachts and personal aircraft, don't they?Nothing helps a bad mood like spreading it around.
09-25-2008, 03:15 PM
- Join Date
- Aug 2005
It's even worse than that .Nobody knows the value of the mortgages that we will be buying back from Fannie Mae !It's essentially worthless paper on worthless propriety that the lenders have forclosed on and don't even want !
The housing market is in shambles and no credit is available to purchase a house from any owners.We will be buying essentially a 'pig in a poke' !Once they are bailed out,and the paper/mortgages are purchased and off of Fannie/Freddy's books they can start all over again with fresh funds from us and we are stuck with worthless paper and won't even own the property !It's a 'Bag Job ' thanks to Clinton and the Liberals !
09-25-2008, 03:16 PM
Yes, and no.
The gov got equity in AIG, but with the mortgages we are basically hosed.**** Obama and **** you too.
09-25-2008, 03:43 PMNothing helps a bad mood like spreading it around.
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