Mario asked:


I need a lot of information about the “Original Government Bailout”. Like what is was for and did it help. Also if anyone can tell me about some pros and cons of gov. bailout and sites where I could get reliable info. Thanks.

Danielle

Mark Walters asked:


Can we save both Wall Street and Main Street? Those who are responsible for disposing of $700 billion of your tax dollars assure voters that they can.

An example is now taking place in Arizona and a few other states. Here’s the deal:

Countrywide was facing legal action for its “alleged use of deceptive practices in their mortgage lending business.” Attorneys General in a number of states we prepared to bring legal action against Countrywide on those charges. To head off those actions Countrywide (and Bank of America, which now owns the company) agreed to provide some relief to borrowers with subprime and other adjustable rate mortgage loans.

By the way, they were allowed to do that while admitting no quilt, proving once again that the larger the financial crime the smaller the penalty.

The deal requires the lender to modify loans and adjust monthly payments to levels that are more affordable. Just who will decide what those numbers will be is not explained.

A temporary hold has been placed on any foreclosure action the bank may have been considering for these homeowners. It appears that about 13,000 Arizona borrowers may be eligible for this program. I will refrain from pointing out that Arizona is one of the leading foreclosure states with tens of thousands. Let’s just be happy for any help we can find.

Here’s another sticky point. The loan modifications would be based on what each borrower can afford and some would actually get a reduction in the amount still owing on their mortgage. Who will make those determinations? Will their congressmen and senators have any influence on who gets how much? Will Barney Franks be consulted? Hey, they don’t call it a bailout for nothing!

Wait, what about those who have already been foreclosed out of their homes? Don’t worry, they have not been forgotten. Some of them will be eligible for relocation assistance. What does that mean? Don’t ask me, only a politically appointed government bureaucratic will be wise enough to answer that question.

Countrywide/Bank of America is slated to start the program on Dec. 1, 2008, but many think they will need more time, so the cavalry will ride to the rescue if they can get their horses saddled. The bottom line is that it could take months before most eligible homeowners get a crack at the programs.

Oh yes, one other thing. The bank has announced that it will have a staff of about 3,200 loss mitigation specialists to provide help to all bank customers nationwide. Let’s see, tens of thousands of eligible homeowners and 3,200 office workers. I’m not good at math, but to me that seems to add up to a barrel of homeowner frustration.

I don’t want to seem unsympathetic, but didn’t many of these folks cheat more than a little on their loan applications? Didn’t more than a few pull cash out of their homes to buy luxuries items they really didn’t need? Shouldn’t some of those actions make at least a few people ineligible for these tax supported measures? Yes, probably, but how is your government going to separate the good from the bad… especially since the most important thing is to get reelected.

Folks, we are entering a wonderful new world where no one is allowed to fail. Don’t worry, your great, great grand children will pay for it.



Cory

Dude asked:


Please explain to me what the hell is going on with this “bailout” in english please. I want to understand! (meaning i dont get all of their terms on tv help me understand) 10points to best answer

Debra

Kevin asked:


Who paid/is paying for it?
Do you think taxpayers should pay for it? Why?
What would happen if there was no bailout?

Michelle

DaVida Edwards asked:


When will banks start lending again?

Several sources have said that the year-to-date job losses are 760,000. Do you have a plan to supplement your income?

I realized that my corporation was in serious trouble when the Small Business Administration didn’t have any money to lend; moreover, the top level executives didn’t even know when they would have anymore capital to loan to businesses large, medium, or small.

Truly, this marks a clear downshift in the economy and people who had jobs are now being forced to look for a new job in a starving market. There was a net loss of 159,000 jobs in September and you guessed it– this is the ninth straight month the U.S. economy has lost jobs. I never thought I would have to update my resume for any other reason than to include it in my business plan.

We now have a $700 billion bailout plan that was signed into law but there’s no near future end in sight. The question remains, “Will it prompt banks to lend and help the economy get out of the red?” I understand that life without the bailout bill would be much worse, but what is going to happen with this bill and when?

Even thought the rescue plan has passed and financial experts insist that government action is better than the alternative—most would say, “I need a US Treasury bill with at least five zeros in each corner, front and back, in my pocket today!” That’s what 304.5 million in 2008 American population would call a bailout. It’s also wishful thinking.

Like so many other Americans I turned to the internet to find a source that would bail me out. My frustration is a result of what I should have expected in the first place. Even the scammers need a bailout. They are scrupulous and devious while feeding you a crock of crap in pursuit of making a farce sale.

6 TIPS WHILE IN SEARCH OF A BAILOUT (A JOB)



Stay far away from websites that ask you to pay them an upfront fee for work at home jobs. Don’t believe the hype! Any business that is interested in hiring will not ask you for money. They will only pay you for your services.

While searching for a telecommute position, update your resume to reflect your work-at-home capabilities and cater it to employers who hire home workers. Do you have a computer, internet access, fax machine, additional land lines, software, etc.? Put those capabilities into your resume and cover letter. I could write a book about the resume and cover letter subjects but for now I’ll stick to the topic. Think of your resume as your sales letter and use your cover letter to close the deal. Using a standard cover letter that looks like you just picked a business out of the phone book and decided to ask them for a job is too generic. Using a standard text cover letter can also be a waste of time. Do the research, make the calls and focus on the company you can see yourself working for. Then write your cover letter to reflect why you would be uniquely qualified to do the job.

Never send your resume to anyone who lists a job without any contact information. Don’t even bother to click on a link. People who own legitimate businesses and pay for advertising will be more than happy to brag about an available position and seize the opportunity to advertise by publishing their name and contact information as well.

Proofread then have someone else read and proof read your resume and cover letter for you. Do not send an email, fax, attachment, or copy and paste until you do.

Be careful with Craigslist. You may wind up with an inbox full of spam. Once again no contact information usually means ulterior motives.

Don’t wait until you’ve been scammed to realize it. Try a free work at home job. I found a couple that don’t involve telemarketing, customer service, or call centers. Feel free to visit my blog for more information. I began to wonder if there is just one honest soul on the Internet. Finally I came across my bailout and its working. The best part is I don’t need your resume and I don’t need to sell you anything because the training materials are free.



Amazingly, the bill that was passed by legislatives won’t bailout the economy tomorrow or next week or even next month. Frozen credit markets are still icebergs, but that doesn’t give scammers a free pass to scam on…and…on…and…on!

Unfortunately, it remains to be seen as to how long it will take to jumpstart our miserably ailing economy. In the meantime you can use the free strategies to supplement your income. I know what it’s like to be in the market for a job unexpectedly. Here’s the free work at home jobs blog address: http://blognpost.blogspot.com



 



Jean

kwong asked:


Or, more specifically, where exactly would the money come from? Because the new bailout plan originates from the Senate, it cannot be a revenue bill. Therefore, the money will not be directly taxed from citizens.

I know that the Senate is using H.R. 1424, the Paul Wellstone Mental Health and Addiction Equity Act of 2008, as the “vehicle for the economic rescue legislation,” but what does that mean in simple terms?

Sorry if the question is confusing; what I really want to know is basically two things:
1) What exactly is the proposed bill amending, and
2) Where will the 700 billion dollars come from?

Carla

Cynde F asked:


I’d like to learn how we got to the point of our government bailing out Wall Street. Can someone guide me to ‘Government Bailout 101′? I know it had to do with Freddie Mac and Fannie Mae but I’d like to go further back and get an elementary explanation of capitalism and markets and how it evolved to our current economic crisis. I know I’m asking alot but there must be something online that gives the history with explanations.

Raymond

Artie Lange Fan asked:


Would the economy really collapse if we didn’t do the bailout or was this made to scare the public so we would be okay with bailout (even though most people are not anyway).

In other words, did this REALLY need to be done?

Or were scare tactics used so Wall Street tycoons and politicians could keep all their money and more?

Jacqueline