Kumicho wrote:raum wrote:1. buy up the bad debt loans.
With...Whose money..? Is that what they gonna do with the bailout package, or is this another 700 Billion all together..?
That is what the bailout included; 300 billion to do that. Buying up bad debt to unfreeze credit. Bernanke is asking for money now, though...
raum wrote:2. renegotiate loans to keep people in homes.
Typically speaking, brokering loans isn't free...I guess I would know, that's what I USED to do for a living...Thanks to the mortgage crisis, I'm hoping a future as a gas station attendant isn't as bad as I imagine...But that's beside the point, the point is that if I could be called on to broker some of those bad loans...Rather than make the typical 2% to 3%, hell I'd take 1.5%, and fly all of you to the European coastline of your choice...
Honestly, man. That might happen in you are affiliated with a realtor association. I spoke with my mortgage broker, who is affiliated with my realtor, and I still got approval AND can up my credit line and still pay a lower note (and these aint sick rich people. you know I deal with real people or not at all.)
Basically, he's talking about cutting spending, and none of those things are done for free...Cost of rebuying bad loans plus brokering them...Somebody's gonna get rich...Please believe...
Ty, there is always gonna be rich people. I know people who are so rich that they are leveraging their investments and savings to not have any taxable income for the next eight years, becuase THEY CAN. They will go from paying hundreds of thousands in taxes to being eligible for every social pogram Obama proposes. they are honest people, and give charitably (all their remaining income would be going to charity of humane secular causes, actually). They have been rich since they came to this country and are still rich, and will be for the known future because they are invested in EVERYTHING. and they are good people I don't hate.
At any rate...Even Republicans had no defense for McCain after tonight...All of them pretty much said the same thing, he didn't do what he needed to do...
I dunno.
see, here is the issue. They are both trying to appeal to the moderates and independents. they are not on their party lines. I like it, even though I am hard-pressed to believe either is ready for this office.