Bailout failing and will continue to be a failed program
Posted 5 weeks 6 days ago byAS President Bush stood before small business owners trying to calm the fears echoing out of Wall street with the tumbling number its only going to get worse.
The current Numbers of the bailouts authorized as of today is worth 1.4 trillion dollars. The banks who have no money so they say are still acting like financial idiots because they see free money being thrown at them while they continue the same failed policies which got us here.
An example, I was in Lubbock today with Paul Madison. He was telling me all about how the auctions were going to go down. He was hoping with all the banks saying they had no money and credit that he could pick up a house being auctioned off. It did not happen.
An Example from the auction which only magnifies why the Bailout will fail and will only cause more of a economic collapse down the road.
Bank Loan on a small starter home $73,450 that has a tax appraisal of $165,000. The default amount on the house was $57,877.30. The Bank Lender out bid all persons present by bidding $120,000. The Bank lender was Country Wide.
Why in the hell is Country Wide out bidding all others for this property? Why are they bidding significantly more than the amount of the original loan?
Answer, preditory actions so that Country Wide could sell the house for $170,000 which is the standard method.
Thus the US Tax payer on this one deal will have to payout for Country Wide, $62,122.70 so that Country wide can have more credit. Country Wide by the way, will get to keep the property under their deal and will pocket little more than $112,000. They will have to pay back the cost of the bailout on this not but at the firesale price set by Country Wide themselves. Which means that Country Wide could say that the house is worth $40,000 and that is the amount that they would have to pay back.
Thus Country Wide stands to make massive profits at the expense of the US Tax payer who is still getting his home stolen from them by the same people who caused the mess in the first place.
All Congress will have for you is a welfare line where you can get a coupon for some KY or petroleum Jelly for the screwing they are getting from this horrible stupid bailout plan!













Thoughts
ACORN is responsible for the
Submitted on October 10th, 2008 by BeoACORN is responsible for the lending institutions. I can remember them picketing the banks and houses of bank presidents, and threatening them. I guess they learned that from Bill Ayers who bombed the houses of bankers and judges. They would cry racism because the banks were not lending to poor and minorities. So finally the banks acquiesced and started making the loans after Fannie Mae said that they would guarantee them.
Obama doesn't need to kill all the white people, he will just throw those whom he has no use for under the bus and put the rest of us in the poor house.
GOS
Submitted on October 10th, 2008 by PabloACORN is one of the lenders!
You can now take your foot out of your mouth!
All the white people
Submitted on October 9th, 2008 by Grains of SaltAnd he trained "all the leaders of Acorn" Right. And the troubles with the leandeing institutions just started 2 years ago. Right.
And he'll kill all the white people. Right.
GOS and John
Submitted on October 9th, 2008 by PabloI get frustrated knowing full well that Obama is a criminal and an illegal alien.
You have the Leadership of the DNC who stood up for Fanny Mae and Freddy Mac and Country Wide along with AIG.
Dodd and Pelosi in June for example were with the CEOs of those companies saying they were ok and not going to fail.
It was the Democrats who are now in charge who refused to reform all those companies which we are now bailing out.
Then you have Obama himself where he trained all the Leaders for ACORN and has many ACORN higher ups doing double duty with his campaign and committing voter fraud to steal the election.
So Yea I might get carried away. However, it still does not make what I said any less true and it very well could happen!
Agreed
Submitted on October 9th, 2008 by John 2000... sometimes Pablo slips over the edge and throws in the entire kitchen sink+. Counterproductive.
WTF?
Submitted on October 9th, 2008 by Grains of SaltBailout. That was the topic. It ending with a president "killing off the whites in America"!
There's no better way to sum up all of your posts than to add that to the end.
Karl Rove would love to have that fierce fear mongering on his team.
You've got 29 days to help out.
Guilable voters await.
killing off wite Americans. Hoory for the RBA. What a sad F*#king day.
McCain Follows Obama Down Socialist Road
Submitted on October 9th, 2008 by John 2000I thought that the following article very much expressed my views regarding the "bailout", the congress, the horrid Henry Paulson, Faux News, and strange John McCain ...
http://www.aim.org/aim-column/mccain-fol...
hmmm, I just had a funny thought: Heck with the ballot box voting for president on November 4 - let's replace it with bailout box voting instead.
GOS & Pablo
Submitted on October 8th, 2008 by BeoI agree the people at AIG should all be fired by us. We gave them the bailout money and now WE own 80% of the company. They should all be given a pink slip and a dime for a phone call from jail and all their assets should be taken and liquidated to pay back taxpayers.
I have to agree with Pablo, I think that if we don't get a handle on this soon, the trickle down effect will put this nation in a dizzy spiral. Iceland has already declared bankruptcy. I wonder what that does to all their socialist programs such as free health care? It will be interesting to follow the trail.
This emphasizes even more strenuously the need to start drilling for oil and making ourselves energy independent. This whole thing started when the price of oil went up so high that people had to choose between heating oil and gasoline to paying the mortgage they never should have had in the first place. A combination of risky mortgages with no wiggle room for inflation and high oil prices was just what was needed to tip us over.
I still think it was a conspiracy of certain foreigners trying to effect our elections and we need to protect ourselves.What is even more infuriating is that the 700 billion we just paid out is bailing out some of these foreigners. Many of these guys held big piles of these predatory notes. They are smiling all the way to Dubai and Saudi Arabia. Stupid Americans! That is their mantra.
ummm
Submitted on October 8th, 2008 by Grains of SaltWhat the f*ck just happened here? Bailouts to Hitler. And it started out as a nice conversation, too.
GOS
Submitted on October 8th, 2008 by PabloThere is nothing in the Bailout which prevents these kinds of issues from happening.
There is no real overisght of any kind.
What oversight there is happens after the fact and only if those who are charged are looking for it.
Thus the bailout will fail and we are going to go into a depression for sure because the lenders are getting money for free for defrauding the people and stealing their homes as part of the method which is called Preditory as a way to make it sound politically correct.
The truth is that the lenders do not care about the loans they gave. To them its unimportant. Because of the way the system is, they get the best of all the worlds with no ramifications of any kind.
The CEOs make Millions to billions and the common people lose their homes and they get in the end no credit and it effects not just common Joe USA but there are small businesses which were effected in the same preditory manner as common Joe in suberbia.
Because Obama the criminal and illegal Alien and his Democratic party cronies will lead America into the worst Depression ever seen in American History because they are greedy and comsumed with unrestrained power.
Obama has committed to date some 14 felonies that are on his plate. No one is willing to stand up and say Hey! That is wrong!
It will be like Bill Clinton who was convicted and impeached but could not be removed from Office.
Obama will be known as the man whom no one was willing to arrest or place before the court for all the crimes he committed.
More or less Obama = Hitler in this reguard because that is basically the pattern. Other than Hitler early on got arrested twice for some of the little dirty things he was doing. Obama has not been arrested for his dirty tricks.
But that is a good reference none the less. Obama will take America into a Massive Depression and lead America into a Nazi style reformation which we will never get him out of office while he begins his Black liberation Theology of killing off the whites in America.
No I am not delusional. But it is a path that is available to Obama! I am safe because as Obama puts it, I am not a "cigar chomin cracker" thus I should escape the concentration camps of Obama. LOL
And so it goes
Submitted on October 8th, 2008 by Grains of SaltBut at least they'll all be nice and relaxed:
WASHINGTON (AP) -- Days after it got a federal bailout, American International Group Inc. spent $440,000 on a posh California retreat for its executives, complete with spa treatments, banquets and golf outings, according to lawmakers investigating the company's meltdown. -
If that isn't a reason for jail time, I don't know what is.
Hamilton
Submitted on October 8th, 2008 by PabloThe main job of the president is foreign Affairs and overseeing the Military.
Domestic matters lay at the feet of Congress with the President who gives approval with signing the congress plan or vetoing what the president does not like.
When you know what is the true role of the president. Obama is not qualified. Plus who wants a criminal for a president who is an illegal alien to boot!
Strategy for forcing political change through orchestrated crisi
Submitted on October 8th, 2008 by John 2000http://www.discoverthenetworks.org/group...
Thanks Pablo
Submitted on October 7th, 2008 by HamiltonWe have been sold, and those that sold us continue to use us to line their pockets with our money. So tell me Pablo, in your opinion…why does it make any difference who the next president is; the damage is done. It doesn’t look like there is any way out, except maybe revolution.
B. Hamilton Langrehr:
The Hamilton Post: www.thehamiltonpost.blogspot.com
blangrehr@gmail.com
Pablo
Submitted on October 7th, 2008 by BeoLOL. But I guess it really isn't funny.