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Taxpayers asked to Bail Out More Banks

Discussion in 'U.S. Politics' started by asur, May 7, 2009.

  1. asur

    asur New Member

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    Really the Banks haven't changed, just the amount that taxpayers must
    now bail them out. Tack on 75 Billion more now, just for now.

    From running the"just for show" stress tests the Obama admin found several are in need of cash. Although the names change daily, they have some options.

    The banks were given 3 options:
    1) Raise cash from stock.
    2) Sell assets to raise cash.
    3) Take a free grant from the gov't.

    Now which choice will they make?

    Hmm...


    Now Obama still wants the banks to lend to risky buyers.
    Ie. If you buy a house even today there is no reason to pay the bill
    or have a job. After all less people have jobs nowadays
    anyhow. It's called "CHANGE!"
     
  2. pocketfullofshells

    pocketfullofshells Well-Known Member

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    try to jam some more mindless ranting hyperbole in there...no one is telling banks to sell houses to jobless and that they don't have to pay bills. get a grip...I know that's asking a lot....
     
  3. asur

    asur New Member

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    Really, the only requirements in my state to buy a house is to have 3% down and "reasonable" credit. The rest is subjective.

    Now smart people know that they don't have to pay for their homes without being told.
    If you qualify (subjective) the two options below are really possible.

    There are real options now with certain mortgage companies (ie. WF):
    1. Extend the loan to 40 years or more and lower the rate (OK for fools)
    2. Refinance at a lower interest rate and change the balance to current market value. (Great, if you have a job and house prices have fallen alot)

    So in effect in option 1 or 2 people are not paying the original mortage.
    Hence I confidently say they are not paying their bills.

    Now here is the unspoken option I suspect may work:
    3. Just work out a deal with option 1 or 2 and additionally get WF to allow you to not pay until you get a job. (If you could work this , it's the best choice for those without jobs). My belief is this may equate to a free house in the long run , because
    jobs are not coming back in most sectors, and the Obama admin is instructing mortage
    companies to stop foreclosures.
     
  4. Dr.Who

    Dr.Who Well-Known Member

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    Maybe we should close any accounts we have with banks that have taken bailout money. No, I'm serious.
     
  5. Andy

    Andy Well-Known Member

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    I already have. I closed out my Citibank VISA card. I don't want one single penny I have control over, going to any of those banks. Now, if only I can get control over my money the government stole, and stop it from going to banks as well.
     
  6. Mr. Shaman

    Mr. Shaman New Member

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    WHEW!!!

    All o' that.....and, no facts to support your allegations.

    Truely, amazing...... :rolleyes:
     
  7. Mr. Shaman

    Mr. Shaman New Member

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    Somebody ripped-off your piggy-bank, huh?

    Does (either) your Mom or Dad have a drinking/gambling problem?​
     
  8. PLC1

    PLC1 Moderator Staff Member

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    Good luck with that one.

    I used to have a Citibank MasterCard. I got it because they promised me 5% back on all purchases. How could I go wrong?

    Well, for one thing, they played games with billing dates and due dates. They didn't allow enough time to pay the bill, even using electronic bill paying on line.

    So, I decided they could still pay me 5%, so I walked the payment into the bank every month, and got a receipt.

    That worked pretty well for quite a while, until the bank decided it was losing too much money to freeloaders like me, who pay the whole amount every month and never pay interest.

    The bottom line: They reneged on the deal, and cut my pay to 2%.

    Imagine that, a 60% pay cut (5% to 2%) from my job of going to the bank every month and charging everything on the Citi Card!

    I quit that gig, and cut up the card.

    No wonder they couldn't make any money, doing business that way.

    Now, if you find a way to get back our money that was given to them by the federal government , let me know. I'll even go to the bank once a month again, if that will do the job.
     
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