Here's an update on the financial crisis... the day started out with optimism, it looked like congress was about to close in on a deal, and then the meeting at 4pm at the White House ended in tempers flaring and general disarray. So are we even further from a plan now than we were 24 hours ago? Click here for NPR's update on the situation.
20 comments:
I think that the house should pass this bill. First off, it could cause the government to come out with a gain in money. this would allow us to pay back this 700 billion dollar bill and on top of that with the money gained we could pay back debts that we have nationally and internationally. this should be deal!!!!
-QUOTE FROM DOCUMENT- "Lawmakers said only a few, though potentially problematic, hurdles remain. Among them is a Democratic proposal to alter bankruptcy law in order to give judges the right to change the terms of mortgages. [...] The concern is that if judges give breaks on mortgage rates to people in bankruptcy and on the brink of foreclosure, then banks will need to raise rates on everybody else to make up for that loss." -QUOTE FROM DOCUMENT-
ok so this is one thing that i'm not too sure about. it seems to me like it is another welfare situation. i can see the judges doing this in SOME cases, but possibly people will take advantage of this generous opportunity? idk, but it just looks like they are trying to help out all of the people that are too lazy to get job (although this is acceptable for certain people in crises [i think thats the plural])
Wow, i wonder how the outcome will be like. Personally, the article was difficult to understand, but it was saying that the U.S. government is in the process of rescueing 700billion dollars, right?( Who are we making the deal with?) And also it's saying that we are going to slip in to an anarchy if we don't do something about it, right? And all this happened because of people having houses! Where will the 700billion dollars if the deal isn't made? Would it affect the tax price much? I think all this is happening at the worst time just because of every other conflicts going on in and out of this country.
I just have a feeling that if America doesn't recover from this crisis in time, China may become the world's greatest power just because of the timing. We have election in a month and are economy is falling fast and if we don't get better with it, I think all the blame may go to our next president leading to more and more conflicts within the country. When America goes in to panic, China will easily slip in to the place of America. China is the rising star and growing power, so if American governmnet do not keep their heads in the game and come up with more solutions, everything in the world may change within our lifetime.
They just need to figure something out. It's getting rediculous.
They need to just settle on something that's going to get us through this for right now and work something else out later if needed.
What they've proposed seems like it'll work for now, but we have to think that the money that the government wants is coming from our parents paying taxes. Are we sure that that's what we can handle right now? The price of gas is high enough without a tax increase to add.
another bank just collapsed folks. washington mutual is gone.
I am still a lttle confused about this whole thing. This bailout needs to be done in order to bring our economy back up, but if the bill is passed, then taxes would increse and eventually cause just another economic issue. Isn't there any other solution?
What is up with this situation!
Things are getting worse by the day.
And we can't really do anything about it, can we?
I think that they should've took the deal.
We wouldn't be in a situation as bad as this.
In my opionion something needs to change now. I think this bill should be passed because the things that are going on right now for our econmic situtation are in bad condition and it will just get worst.
Why didn't they agree on anything last night?
Now's not a time for arguing, it's a time to reach an agreement that meets the standards just enough to help out our economy. I really hope McCain gets elected. It seems like he has a better understanding of what to do than Obama does. Obama didn't even want to go to Washington to try and settle this because he wanted to have the debate with McCain. The president needs to care about our economy and it seems like Obama will say whatever he wants to get elected because that's all he cares about, not us as a whole.
i think that they should do something before it' too late. i mean we've already wasted so much time that so many large banks are closing down. sooner or later, all of them are going to close down.
if they don't sign this, we will be in another economic depression. and if rumors of bidan dropping for clinton are true, this is repeating history. We are in a debt, and a clinton comes in to pull us out but corrupts us with other problems.
in the end i think this bill will be passed so that we dont plumit into another depression.
The bill could help our economy, but the key word is COULD. i know most of ya'll agree with the bill, but what if it fails? Bush has faith in the bill, but can we have faith in him? For the 8 years that he has been president, i dont see one good thing that he has done for us. Personally, i dont support the bill or Bush. Its too much risk
-Kevin Shin
i read the document, and found it quite the right idea for this moment. i hope that they do pass this bill, i really dont want another depression in the U.S.
I don't think putting us in 700 Billion dollars more in debt right now is the best idea. I mean were already 400 Billion dollars in debt, and with this bill we would be 1.1 Trillion dollars in debt. This may help us in the long run but if it fails thats one heck of a hole to be in.
Im really not sure what is happening so please someone put me up to speed and correct me if i'm wrong.
So the banks are selling mortgages to people who can't pay it off and goes bankrupt from it(hence all the forclosures), then they go out of business and us the tax payers give them a "Bail-out" and pay to keep these banks operating. So how are they still going out of business. (Correct me if i'm wrong) Is this similar to the depression of the 1930's. I never understood why my grandparents were always afraid to put money in someone else's hands but now i guess i see why.
What is there really to disagree on? Im sure there are different was to solve this problem but no matter what it all needs to be figured out quickly. Like David said i think that this is somewhat like welfare but more for business then individuals. No matter what it all seems necessary and at the same time kind of unfair.
I dont really know if I agree or disagree with this bill, but I do think that we need to do something about our country's economic and financial crisis. What this country has gotten itself into is harming the families of now, and is also harming the future of the children and teenagers of today. If we dont do anything now, then our parents and us will never be able to retire, it will be much harder to get scholarships to go to college, which means that we may not be able to get a decent job in the future. I just hope we do the right thing!
i think that they should definately pass this bill. yeah, theres a chance that this may not turn out as planned, but its worth the risk, bc it seems that theres no other solutions that seem any better. i think its really smart that if this did pass, they would be doing this in "stages" so that maybe, we wont even need all the 700 billion dollars. maybe we'll no longer be in an emergency stage after the first two stages. but as of now, something has to change, and hopefully this will pass, and change things for the better.
this bill really could help us in many ways. it can save us from having our economy go furthur downhill than it already is. The U.S. can not afford another depression right now..
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