i think bailouts are acceptable if we hold them accountable but it isn't going to happen.Originally Posted by Danny
i think bailouts are acceptable if we hold them accountable but it isn't going to happen.
Paul "your bullshit makes the flowers grow"
We may be seeing a turnaround at Citi though. A memo released to employess said they ran at a profit for the last 2 months. If that continues through the end of March and we see that fact in their quarterly statements I think it might be the first inkling of a recovery.
What about home buyer though? Obama's plan says the bailout is for people who lied about income on their applications. IMO those people should lose their house with no questions. They should also be liable for any losses the bank takes on the principle after the house sells through foreclosure. That bailout should goto people like my brother in law who's wife up and left him less than a year into the marriage. When they were together they could afford the house easily and had a ton of cash left over. Now the bank wont talk to him until his house is in the foreclosure process.
ya citi news would be awesome for wallstreet!
no bailout money should go to any home owners... its is the breaks of life of making bad decisions. if you buy something you can't afford then you need to be able to face the consequences... if you own a home w/ a spouse and she files for divorce or dies these are factors you need to think about when buying a home/auto,etc
Paul "your bullshit makes the flowers grow"
I agree with you about no bailouts at all, but when the hell would you help someone that lied on their application? They also want to give them a 5k bonus to pay down principle. This is a classic example of rewarding bad behavior. I cannot believe ANYONE would think this is good for anyone. If your kid steals a candy bar do you give them money to buy another one or do you smack them and have them work off their 'debt'?
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