I was wondering what your opinion was on the buying of bad loans by the feds? How much do you know, what do you think?I have been reading Stand for Something, and about the time I got to GBH saying that there are serious and far spread consequences when people try to get ahead by pushing others down, this started. It helped me see and tangible example of just what he meant. It wasn't said in those words, but he was essentially saying that one of the problems we are facing right now, is people getting ahead at the expense of others. Evidence of that,is their homes, and the 72 million dollars that the CEO of County Wide is walking away with, now that the company is failed.
What about Fannie Mae and Freddie Mac. We, the tax payers, are now footing that one. The people that owned that.... scott free, nice big paid off homes, 3-4 of them maybe? Do we hold them accountable? Do we make them put their untold fortunes into this buy out?
What do you think?
4 comments:
My BIL sent me this info. It helped me understand things a bit better. I don't agree with alot of what is going on....is the goverment going to "bail out" every failing company?? Nope....so ti has no business doing it now. IMHO anyway.....http://www.kiplinger.com/features/archives/2008/09/how_the_financial_crisis_started.html
Here is the full link:
http://www.kiplinger.com/features/archives/2008/09/how_the_financial_crisis_started.html
I am far from a financial expert. That is why we stay (mostly) away from stocks, investments, and the like. It just makes me nervous.
In this case, I can see both sides of the coin - they say no bailout will end up affecting the average American citizen (in jobs, food, gas, etc). But I feel like a bailout is just saying to people, and companies, "You got in over your head? You're not able to pay your bills? No worries..." And I agree with you - some people will be thrilled that they were able to take advantage of the system.
Heavenly Father offers bailouts, but we have to offer him a repentance and a broken heart and a contrite spirit. What is the government asking of those that are bailed out? "Pretty please don't do this again?" It's a conundrum. But it still makes me grumpy, either way.
I wish I was an ignorant, self-absorbed teenager right about now instead of a mom worrying about the what the world is like for her kids. Ya know?
Bail out? Thats a hard one. On one hand I hate the idea of the Gov coming in and "fixing" this mess. They helped make it. I don't like a gov run country. We live in a people run country.
On the other hand. The stand still we came to wed night was very bad. Like 1930 bad. We would truely be looking at a very diffrent America had they not bailed them out. Lost jobs would just have been the start. It would have been very very bad.
Do I think that CEO's fat on money that they didn't earn should get away with it. Did anyone say Kenneth Ley. There should be big trouble for them. There wont be, but there should.
Its a hard pill to swallow. If this had tought us anything it is that we must make a voice for ourselves. We must vote and we must vote for good people that will make the right choice.
I am not going to tell you who that is. You have to do that for yourself. However. look at the people there right now. Find out if they helped this situation or made it worse. Find out those people that took money and make them accountable for that choice. There are many.
Post a Comment