Obama is not elected yet but the plan for more spending has already started.

[Quicksilver]

Maybe;

While i deplore violence
i do feel the need to show up
for this school yard fight......

Usually this kind of altercation
starts with somebody talkin about
somebody else's mama.......

I expect McCain's gonna knock
a chip off Oboma's shoulder,
what happens next is anybody's
guess..... Let the dust fly.....

Originally Posted by Wagner

Almost sounds like a quote from Jesse Jackson

[Wagner]

What did he buy a new printer and just wants to PRINT MONEY?

More of Obama's don't look behind the curtain policy

[FSETH]

So like Lakai said, they would be allocating money from the already proposed $700 billion buyout that is happening anyway, right?

[Krimson X]

Originally Posted by FSETH

So like Lakai said, they would be allocating money from the already proposed $700 billion buyout that is happening anyway, right?

Lakai is partiall right. However, there has been no significant discussion regarding the govt. buying bad mortgages and re-doing them under the current market value. Instead, Paulson's plan was to infuse the financial institutions with the $700 billion to keep the market afloat.

I agree that the current bill, as written, would give the Treasury the authority to allocate a portion of the $700 billion funds for this purpose.

But my point is where is the money coming from to buy these bad mortgages? The taxpayers.

[LobsterX]

Originally Posted by Krimson X

Lakai is partiall right. However, there has been no significant discussion regarding the govt. buying bad mortgages and re-doing them under the current market value. Instead, Paulson's plan was to infuse the financial institutions with the $700 billion to keep the market afloat.

I agree that the current bill, as written, would give the Treasury the authority to allocate a portion of the $700 billion funds for this purpose.

But my point is where is the money coming from to buy these bad mortgages? The taxpayers.

well at least it is already part of the $700B bailout that was passed, not an add-on to it.

[FSETH]

Originally Posted by LobsterX

well at least it is already part of the $700B bailout that was passed, not an add-on to it.

Right, the $700 billion buyout is going to happen anyway and will be a tax burden on the tax payers regardless. McCain's plan is just an allocation of those funds we are already going to be paying for.

It could be worse, it could be going to waste of time organizations like Acorn, so they can have more funds for thier voter fraud scams, or to give to companies that produce wooden arrows.

[lakai]

Lets go with the facts. The bailout is not $700 billion it is $810 billion. It will be used to buy trouble assets from financial institutions and restore liquidity into the system. Troubled assets mainly consist of mortgage backed securities . The problem with this bill is that it is that it was not made to solve the problem. It is to only suppress the problem in the short term.

I like McCain's proposal and here is why.

Risky Mortgages are only the tip of the iceberg and not the only cause for the market going down so much. A majority of people do not understand the HUGE underlying problem of Credit Default Swaps (CDS). CDS are mainly unregulated insurance policies. There is estimated to be around $50-60 TRILLION worth of CDS floating around, no one can really know the exact figure because they can be hidden off the books. Unless we can stop foreclosures, these CDS will have to be paid out making nearly every bank to be wiped out.

McCain's proposal would prevent a large number of foreclosures, giving enough time for these CDS to expire (usually around 5 years) and pass laws to regulate banks from predatory lending and everything else that got us in this mess in the first place.

People balk at the $300 billion price tag, but don't really understand that it is very small price to pay for an actual SOLUTION. There are millions of ARM loans that have yet to reset. Anything that would prevent or minimize more foreclosures is the only way to solve our economic problems.

Can you tell me what Obama is proposing ??

[Wagner]

Originally Posted by lakai

Lets go with the facts. The bailout is not $700 billion it is $810 billion. It will be used to buy trouble assets from financial institutions and restore liquidity into the system. Troubled assets mainly consist of mortgage backed securities . The problem with this bill is that it is that it was not made to solve the problem. It is to only suppress the problem in the short term.

I like McCain's proposal and here is why.

Risky Mortgages are only the tip of the iceberg and not the only cause for the market going down so much. A majority of people do not understand the HUGE underlying problem of Credit Default Swaps (CDS). CDS are mainly unregulated insurance policies. There is estimated to be around $50-60 TRILLION worth of CDS floating around, no one can really know the exact figure because they can be hidden off the books. Unless we can stop foreclosures, these CDS will have to be paid out making nearly every bank to be wiped out.

McCain's proposal would prevent a large number of foreclosures, giving enough time for these CDS to expire (usually around 5 years) and pass laws to regulate banks from predatory lending and everything else that got us in this mess in the first place.

People balk at the $300 billion price tag, but don't really understand that it is very small price to pay for an actual SOLUTION. There are millions of ARM loans that have yet to reset. Anything that would prevent or minimize more foreclosures is the only way to solve our economic problems.

Can you tell me what Obama is proposing ??

change...duh.

[Dannyell]

Originally Posted by Wagner

change...duh.

Can Help A Nigga Get Elected heard it on SAT radio...so thats why he keeps saying it...

[FSETH]

Originally Posted by lakai

Can you tell me what Obama is proposing ??

Change...

I agree with you and McCain's proposal.