Obama Pic
The economy is in the toilet.
Is the best answer to propping it back up giving billions of dollars to...
A. lending institutions who lent money to unqualified or borderline borrowers in the form of ARMs, 100% loan to value or more, 2nds and 3rd mortgages, etc.
B. people not smart enough to realize they can't afford a $500,000 home on a $40,000 a year income.
C. the people that thought 15% to 20% annual growth was sustainable in the housing market.
D. the manufacturers that expanded capacity during fat years with no plan for contraction if growth slowed.
E. Financial institutions selling mortgage backed securities as if they were infalible and good as gold.
F. People not following the rules and living up to their contracts.
G. Expanding government and it's control and influence.
Apparently the answer is H. All of the above.
The bailouts never should have happened. The worst offending companies should have failed. Gone. Out of business. Let the others rebuild from the ashes. It couldn't have had any worse result that what has happened in the last 4 months.
The money spent so far in the bailout got around a 60% value back. What private investors and other countries have put in recieved approx. 125% value back on avg. The US govt knows exactly squat about getting value when they spend our money.
It all sucks. Both sides of the aisle suck. The gov't wasn't looking out for us like they should have by being a watchdog over the financial institutions. It wasn't a Dem or Rep issue it was all govt.
All of this should have been easy to see coming. All of this could have been prevented. The same people who didn't see it coming and didn't prevent it sure as hell don't have a clue how to fix it. Damn them all.
We need a benevolent dictator.
End of pissy rant. Thank you for your time.
Is the best answer to propping it back up giving billions of dollars to...
A. lending institutions who lent money to unqualified or borderline borrowers in the form of ARMs, 100% loan to value or more, 2nds and 3rd mortgages, etc.
B. people not smart enough to realize they can't afford a $500,000 home on a $40,000 a year income.
C. the people that thought 15% to 20% annual growth was sustainable in the housing market.
D. the manufacturers that expanded capacity during fat years with no plan for contraction if growth slowed.
E. Financial institutions selling mortgage backed securities as if they were infalible and good as gold.
F. People not following the rules and living up to their contracts.
G. Expanding government and it's control and influence.
Apparently the answer is H. All of the above.
The bailouts never should have happened. The worst offending companies should have failed. Gone. Out of business. Let the others rebuild from the ashes. It couldn't have had any worse result that what has happened in the last 4 months.
The money spent so far in the bailout got around a 60% value back. What private investors and other countries have put in recieved approx. 125% value back on avg. The US govt knows exactly squat about getting value when they spend our money.
It all sucks. Both sides of the aisle suck. The gov't wasn't looking out for us like they should have by being a watchdog over the financial institutions. It wasn't a Dem or Rep issue it was all govt.
All of this should have been easy to see coming. All of this could have been prevented. The same people who didn't see it coming and didn't prevent it sure as hell don't have a clue how to fix it. Damn them all.
We need a benevolent dictator.
End of pissy rant. Thank you for your time.
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The economy is in the toilet.
Is the best answer to propping it back up giving billions of dollars to...
A. lending institutions who lent money to unqualified or borderline borrowers in the form of ARMs, 100% loan to value or more, 2nds and 3rd mortgages, etc.
B. people not smart enough to realize they can't afford a $500,000 home on a $40,000 a year income.
C. the people that thought 15% to 20% annual growth was sustainable in the housing market.
D. the manufacturers that expanded capacity during fat years with no plan for contraction if growth slowed.
E. Financial institutions selling mortgage backed securities as if they were infalible and good as gold.
F. People not following the rules and living up to their contracts.
G. Expanding government and it's control and influence.
Apparently the answer is H. All of the above.
The bailouts never should have happened. The worst offending companies should have failed. Gone. Out of business. Let the others rebuild from the ashes. It couldn't have had any worse result that what has happened in the last 4 months.
The money spent so far in the bailout got around a 60% value back. What private investors and other countries have put in recieved approx. 125% value back on avg. The US govt knows exactly squat about getting value when they spend our money.
It all sucks. Both sides of the aisle suck. The gov't wasn't looking out for us like they should have by being a watchdog over the financial institutions. It wasn't a Dem or Rep issue it was all govt.
All of this should have been easy to see coming. All of this could have been prevented. The same people who didn't see it coming and didn't prevent it sure as hell don't have a clue how to fix it. Damn them all.
We need a benevolent dictator.
End of pissy rant. Thank you for your time.
Is the best answer to propping it back up giving billions of dollars to...
A. lending institutions who lent money to unqualified or borderline borrowers in the form of ARMs, 100% loan to value or more, 2nds and 3rd mortgages, etc.
B. people not smart enough to realize they can't afford a $500,000 home on a $40,000 a year income.
C. the people that thought 15% to 20% annual growth was sustainable in the housing market.
D. the manufacturers that expanded capacity during fat years with no plan for contraction if growth slowed.
E. Financial institutions selling mortgage backed securities as if they were infalible and good as gold.
F. People not following the rules and living up to their contracts.
G. Expanding government and it's control and influence.
Apparently the answer is H. All of the above.
The bailouts never should have happened. The worst offending companies should have failed. Gone. Out of business. Let the others rebuild from the ashes. It couldn't have had any worse result that what has happened in the last 4 months.
The money spent so far in the bailout got around a 60% value back. What private investors and other countries have put in recieved approx. 125% value back on avg. The US govt knows exactly squat about getting value when they spend our money.
It all sucks. Both sides of the aisle suck. The gov't wasn't looking out for us like they should have by being a watchdog over the financial institutions. It wasn't a Dem or Rep issue it was all govt.
All of this should have been easy to see coming. All of this could have been prevented. The same people who didn't see it coming and didn't prevent it sure as hell don't have a clue how to fix it. Damn them all.
We need a benevolent dictator.
End of pissy rant. Thank you for your time.
/thread
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Yeah I mean really, wtf. And Obama has only been in office for like 6 weeks and people blame all this **** on him. This takes time to happen. People with there assumptions think they're always right. Thats what got this country in trouble in the first place. BTW yeah, politics on a car forum doesnt really sound fun, but oh well, im here anyways
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