Wednesday, October 01, 2008

Ugh

I will tell you that I was surprised the House did not vote for the bailout.

I am only slightly surprised that a new version has been drafted by the Senate, and will soon be most likely passed by Congress.

What I will also tell you is that the whole thing is a scam. Fear tactics to bring about a desired end. But it will do no good, and instead of a sharp dip, and then a recovery, we will be slogging through this for a long time.

I am annoyed that I will be subsidizing people who made bad, unethical, and sometimes illegal decisions. I told Hubba-hubba the other day that we just should have thrown caution completely to the wind, bought a 700,000 house that we couldn't really afford and be bailed out by taxpayer money. I mean, how is that not a good deal?

And for all this crap about ooh, you won't be able to get a loan for your car, or a school loan, or housing loan, it's exactly that, a load of crap. Ask yourself if any major Federal Credit Unions have gone under. The answer would be no. Credit unions have bunches of money they are more than willing to lend to people, I have this info from an insider.

So, if you feel like sticking it to the banks, go through a FCU for your next loan.

7 comments:

Bammy said...

I am more than annoyed too.. and Iknow.. since I have been struggling to actually MAKE my house payments.. on half the salary I had when I cought it.. that I will get no help from them.. this is financial terrorism from our govt and banks...
asswipes...

Awesome Mom said...

I totally agree!

Ted said...

It will be interesting to see how the vote goes in the House. The drumbeat to approve the bailout has been intense, and while the credit freeze does have real economic consequences, this bailout, as Ralph Nader said, has made all Wall Street types socialists now.

Scout said...

You've got a good point, and I don't want to take on this burden myself. On the other hand, I'm also business owner with a business that relies on a steady line of credit, and our bank is feeling the credit crunch like anything. When banks can't loan money, and that's really beginning to happen at some level, jobs are eliminated. I think the whole thing stinks, but I can't seem to come down on one side or the other on this bailout/rescue hooey.

J at www.jellyjules.com said...

There has to be a better answer than this. The whole thing ticks me off to no end.

dgm said...

Either way we're screwed, and I'd rather be screwed without further f*ckups from Washington. Will the House have the courage to do nothing?

Thank god it's an election year and people are really pissed off.

Maternal Mirth said...

More people NEED to GET pissed off! Amen , Gina!