kat8585 Posted September 25, 2008 Group: Royal Member Followers: 3 Topic Count: 1,360 Topics Per Day: 0.21 Content Count: 7,866 Content Per Day: 1.24 Reputation: 26 Days Won: 0 Joined: 11/22/2006 Status: Offline Birthday: 04/18/1946 Share Posted September 25, 2008 http://www.ft.com/cms/s/0/83bfe68c-8a8f-11...00779fd18c.html Link to comment Share on other sites More sharing options...
RigMedic Posted September 25, 2008 Group: Advanced Member Followers: 0 Topic Count: 31 Topics Per Day: 0.01 Content Count: 163 Content Per Day: 0.03 Reputation: 8 Days Won: 0 Joined: 09/06/2008 Status: Offline Share Posted September 25, 2008 http://www.ft.com/cms/s/0/83bfe68c-8a8f-11...00779fd18c.html I cant seem to open the link. Link to comment Share on other sites More sharing options...
OneLight Posted September 25, 2008 Group: Royal Member Followers: 22 Topic Count: 1,294 Topics Per Day: 0.21 Content Count: 31,762 Content Per Day: 5.23 Reputation: 9,762 Days Won: 115 Joined: 09/14/2007 Status: Offline Share Posted September 25, 2008 Link works for me ... and you are right! Where are they getting all this money?? Link to comment Share on other sites More sharing options...
Guest Posted September 25, 2008 Share Posted September 25, 2008 Link to comment Share on other sites More sharing options...
nebula Posted September 25, 2008 Group: Royal Member Followers: 10 Topic Count: 5,823 Topics Per Day: 0.76 Content Count: 45,870 Content Per Day: 5.95 Reputation: 1,897 Days Won: 83 Joined: 03/22/2003 Status: Offline Birthday: 11/19/1970 Share Posted September 25, 2008 I cant seem to open the link. Carmakers are asking for loan bail-out. Link to comment Share on other sites More sharing options...
kat8585 Posted September 25, 2008 Group: Royal Member Followers: 3 Topic Count: 1,360 Topics Per Day: 0.21 Content Count: 7,866 Content Per Day: 1.24 Reputation: 26 Days Won: 0 Joined: 11/22/2006 Status: Offline Birthday: 04/18/1946 Author Share Posted September 25, 2008 And that's on top of the $150 billion for local banks that may fail. Oh by the way, I heard the carmakers are getting $25 billion this year and the same next year. Link to comment Share on other sites More sharing options...
O'Dannyboy Posted September 25, 2008 Group: Royal Member Followers: 0 Topic Count: 156 Topics Per Day: 0.02 Content Count: 3,454 Content Per Day: 0.48 Reputation: 4 Days Won: 0 Joined: 09/22/2004 Status: Offline Birthday: 07/02/1969 Share Posted September 25, 2008 I'm not sure exactly how these "bail outs" will work except to say that the government is buying these debts and will then be responsible for collecting. They will in essence not be helping these borrowers but assuming the burden of collection will require either the involvement of the IRS or the creation of a new division of government to take on the task. While I wouldn't condone the government paying off these loans for those who have defaulted, the government could "bail them out" by assuming/paying off those loans/mortgages thereby saving what little credit they have and lifting the burden of those notes off them. That does seem to be they way things are leaning. Basically they are offering all the borrowers a back door perhaps to even restore any equity they may have in those homes. It's hard to say but it doesn't seem as though the effort is to bail out the lenders so much as to keep borrowers from going bankrupt and able to survive/stay afloat. I guess the thing to remember in all of this is that this money is not a gift to the banks. The government is buying something with our money. The difference is that this money that the government is "borrowing" from our children is not likely to yield a profit for anyone except those who first lent the money. Link to comment Share on other sites More sharing options...
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