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Old 10-03-2008, 10:55 PM   #11
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Default Re: Thank You Congres

I'm pretty sure Congress knows what they're doing. They wouldn't do this for no reason. And something had to be done. If Wall Street went down, our country would fall apart.

By the way, 60% is a complete BS figure as well
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Old 10-03-2008, 11:00 PM   #12
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Default Re: Thank You Congres

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Originally Posted by freestyler105 View Post
I'm pretty sure Congress knows what they're doing. They wouldn't do this for no reason. And something had to be done. If Wall Street went down, our country would fall apart.

By the way, 60% is a complete BS figure as well
okay, so 60% is way exaggerated, but you get the point.

and I really don't think congress knows what they are doing. Lets see some stats on them:

Quote:
Originally Posted by Drummer87
Can you imagine working for a company that has a little less than 500 employees and has the following statistics:

* 29 have been accused of spousal abuse
* 7 have been arrested for fraud
* 19 have been accused of writing bad checks
* 117 have directly or indirectly bankrupted at least 2 businesses
* 3 have done time for assault
* 71 cannot get a credit card due to bad credit
* 14 have been arrested on drug-related charges
* 8 have been arrested for shoplifting
* 21 are currently defendants in lawsuits
* 84 have been arrested for drunk driving in the last year

Can you guess which organization this is?




Give up yet?





It's the 435 members of the United States Congress. The same group of idiots that crank out hundreds of new laws each year designed to keep the rest of us in line.
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Old 10-03-2008, 11:05 PM   #13
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Default Re: Thank You Congres

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Originally Posted by Rubber314Chicken View Post
okay, so 60% is way exaggerated, but you get the point.

and I really don't think congress knows what they are doing. Lets see some stats on them:
if only the bad parts of a person were true, then the world would not exist. you cant just use the bad qualities as a way to totally shun them. china has done pretty bad things but they are doing great currently.
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Old 10-03-2008, 11:09 PM   #14
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Default Re: Thank You Congres

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if only the bad parts of a person were true, then the world would not exist. you cant just use the bad qualities as a way to totally shun them. china has done pretty bad things but they are doing great currently.
it still some high stats, don't ya think? they think they are above the law.
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Old 10-03-2008, 11:30 PM   #15
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Default Re: Thank You Congres

Wow, that's probably very trustworthy. Since there are 535 voting members of Congress last time I checked...
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Old 10-03-2008, 11:44 PM   #16
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Default Re: Thank You Congres

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Originally Posted by freestyler105 View Post
Wow, that's probably very trustworthy. Since there are 535 voting members of Congress last time I checked...
it was compiled from news stories.

But they probably meant to type 535, or meant the house of representatives.
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Old 10-03-2008, 11:48 PM   #17
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Default Re: Thank You Congres

Isn't it 538? I though the District of Columbia got 3 House Reps. Regardless, I think if it's going to help the economy they should do it. Many people have already filed bankruptcy and many are on path to filing it. I hope this can help them. I'm not economic analyst and I haven't really been keeping up on this bailout to be honest. But again, you have to take into consideration that the profession of these guys is pulling the country out of things like this and keeping it a tip-top shape. I think they know what they're doing. However, there is the controversy with the big business, and frankly, I'm not sure how far that is going.
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Old 10-04-2008, 12:13 AM   #18
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Default Re: Thank You Congres

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Originally Posted by Rubber314Chicken View Post
Thank you for putting about $10K in additional tax burden on every tax paying American so these money pit companies can still do this crap. How about we reform it? And since when did the FDIC need to insure to $100K? Last I checked very few people have more than $50K in an account, why not leave the cap there? Oh yea, thats right, you support big business.

America can go to hell for all I care.

If you need my, I'm calling congress saying that I want a bill passed to buy me a new $100K car after I drive one off a cliff for $hits and giggles.
Yes most employee's don't carry 100K in there checking/savings accounts.

However did you think about the countless small businesses out there that do? They won't be able to purchase necessary equipment to expand or maintain there business. Slowly they would bleed dry and go out of business. Thus resulting in more employee's out of work and other entrepreneurs in serious debt. But if your all for Walmart monopolizing the market further its not a big deal.

Quote:
Originally Posted by freestyler105 View Post
It was necessary though...or our economy would be done for.
+1

Quote:
Originally Posted by Rubber314Chicken View Post
no it wasn't- not everyone needs to have everything financed. Its called saving up for that car. And with houses, you need better standards at the signing table, not the collateral.



Exactly my point. Its coming from us. Just wait until you get a job. 60%+ will be taken in taxes to fund all this crap.


First off your crazy to think you can live without financing something. What exactly do you think would happen if nobody could be financed for a new vehicle or home? That will put all the major manufactures out of business plain and simple. Do you really think they could get by with people saving for 3-4 years to buy a new vehicle?

Now what are people to do when they want a home? Live in a apartment for 15 years saving to get a home?

This puts a lot of people out of business/work. Instead of paying out 700Billion we would of ended up paying it in unemployment anyways.

There is no possible way anyone could survive except the filthy rich if they taxed us 60% of are wages.

This is a little larger than saving up for a part for your PC. The scales quite a bit higher.

Quote:
Originally Posted by freestyler105 View Post
I'm pretty sure Congress knows what they're doing. They wouldn't do this for no reason. And something had to be done. If Wall Street went down, our country would fall apart.

By the way, 60% is a complete BS figure as well
+2

Quote:
Originally Posted by Rubber314Chicken View Post
okay, so 60% is way exaggerated, but you get the point.

and I really don't think congress knows what they are doing. Lets see some stats on them:

* 29 have been accused of spousal abuse
* 7 have been arrested for fraud
* 19 have been accused of writing bad checks
* 117 have directly or indirectly bankrupted at least 2 businesses
* 3 have done time for assault
* 71 cannot get a credit card due to bad credit
* 14 have been arrested on drug-related charges
* 8 have been arrested for shoplifting
* 21 are currently defendants in lawsuits
* 84 have been arrested for drunk driving in the last year
People in congress are just like everyone else. Nobody is perfect and they will make mistakes. You'd be insane to think you can find a job anywhere in the world were everyone is perfect.

People need to look at the big picture. If you can't get a loan or credit your crazy to think this economy wouldn't go in a extreme downward spiral.

What are all these business's supposed to do while waiting for everyone to get money saved up to buy stuff?

One last thing the banks themselves are not really to blame. Its self righteous company's like Acorn. It used to be rare for banks to give out sub prime mortgages and give out mortgages to less than credit worthy people.

Then company's like this come along and try to make things more fair. In the process allowing lower income family to purchase way to much house resulting in foreclosures and falling into debt. 9% of the housing market is currently in foreclosure or behind in there mortgage. Don't have a link for that it was on CNN the other night. In part you can blame US citizens for this when all these people went out and bought 300K homes when they really could only afford a 100K home.
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Old 10-04-2008, 11:15 AM   #19
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Default Re: Thank You Congres

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Originally Posted by ߧ∩H♠H䎀 View Post
However did you think about the countless small businesses out there that do? They won't be able to purchase necessary equipment to expand or maintain there business. Slowly they would bleed dry and go out of business. Thus resulting in more employee's out of work and other entrepreneurs in serious debt. But if your all for Walmart monopolizing the market further its not a big deal.
[...]
First off your crazy to think you can live without financing something. What exactly do you think would happen if nobody could be financed for a new vehicle or home? That will put all the major manufactures out of business plain and simple. Do you really think they could get by with people saving for 3-4 years to buy a new vehicle?

Now what are people to do when they want a home? Live in a apartment for 15 years saving to get a home?

This puts a lot of people out of business/work. Instead of paying out 700Billion we would of ended up paying it in unemployment anyways.

[...]

People in congress are just like everyone else. Nobody is perfect and they will make mistakes. You'd be insane to think you can find a job anywhere in the world were everyone is perfect.

People need to look at the big picture. If you can't get a loan or credit your crazy to think this economy wouldn't go in a extreme downward spiral.

What are all these business's supposed to do while waiting for everyone to get money saved up to buy stuff?

One last thing the banks themselves are not really to blame. Its self righteous company's like Acorn. It used to be rare for banks to give out sub prime mortgages and give out mortgages to less than credit worthy people.

Then company's like this come along and try to make things more fair. In the process allowing lower income family to purchase way to much house resulting in foreclosures and falling into debt. 9% of the housing market is currently in foreclosure or behind in there mortgage. Don't have a link for that it was on CNN the other night. In part you can blame US citizens for this when all these people went out and bought 300K homes when they really could only afford a 100K home.

Good point about small businesses, didn't think of the money they have, but does it really run over $100K often?

and cars don't have to be financed. There are used car lots for a reason. Not everyone is fit to own a new car. And I never said do away with financing a home- I said stricter standards at the closing table, which is the same as what you said about being crazy to give out sub-prime mortgages.

Yes, I agree that not only did the horrible decision making by banks brought this on, but so did the people's inability to live below their means. People are just buying and they make minimum payments- a horrible way to go. The average american is $8K in debt, and that is just outrageous.

I think that if the bill was NOT passed then people would have to take responsibility to be able to get what they want in life- a house and a car. I know there are people that can go out right now, buy a car, and get financing almost instantly because of their credit.

And if its the US citizens to blame for over spending, how do they expect people to be able get the money to pay for this $700 billion?

here is a post I made on another forum about this:
Quote:
Originally Posted by me
This goes back to the great depression. One of the few things that I actually remember from AP History. The 3 r's relief recovery and reform.

No way does your average family deserve to hand over about $10K to the government for this crap. That relieves the banks, not the average American. Remember, this country is about your average Joe Blow, not John Doe CEO of WaMu that is taking in about 10 digits a year for his 300 foot yacht while employees struggle to get by. The people have already been relived from this issue.

Next part. Recovery. Well, in order to recover the money, we have the FDIC. If you have more than $100K in one asset then there is a problem, and you don't deserve the problem. In fact, I think that $100K should be made about $50K. Know where the money can come from also? Cigarettes and gas. Have 2 points on your license Then you will be paying a 20% higher rate for gas than mr. good driver with 0 points. Have 10 points? Then your price is 100% higher than someone with no points. Tax on Cigarettes should be increased to about $20 a pack. Its not good for your health, and then once you develop emphysema you run to medicaid (NOT MEDICARE!), that we all paid for, so you, by making a bad decision, have cost us all money to keep your sorry *** alive. Just like what you want us to do with the banks.

Time to reform. Stricter standards at closing. No need to make loans available to all, just the responsible. If someone who has a history of being irresponsible then you can save pennies using a FDIC insured bank (we have those for a reason, you know) and then pay cash.

It all comes down to personal responsibility, and our current system is setup to make sure that none is needed. That is what causes this ****. Hold people accountable for what they did and then you will have very few problems.
Earning caps are long overdue.
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Old 10-04-2008, 12:35 PM   #20
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Default Re: Thank You Congres

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lol just a fyi.... obama voted YES on this along with mccain.... sure you still want to vote for him?
jghjghj
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