I have said all along we needed this.

 

Those who were stupid and got houses they couldn't really afford, and $50,000 cars are getting what they deserve.

 

People who saved and are on the verge of paying off houses they could afford, or those looking to buy a house in the next 3 years are going to come out for the better.

 

I think the smart middle class Americans will benefit greatly for this.

 

I kind of agree, but to what extent I'm not sure. People who just blindly believe a banker that tells them they can afford a $1500 house payment are naive, but are they also dumb? It just blows me away some of the loans people received the last few years.

I kind of agree, but to what extent I'm not sure. People who just blindly believe a banker that tells them they can afford a $1500 house payment are naive, but are they also dumb? It just blows me away some of the loans people received the last few years.

Yes.

Yes.

 

I agree, but it is a shame that in some cases people got in over their heads b/c they were mislead by a banker or a private mortgage broker. It's their fault for not understanding what they were getting in to, but they were hosed by greedy people.

I agree with everything you said Hearsay, with one exception. Anybody who votes for ANY bailout will not receive my vote in December. And that includes McCain and Obama.

 

I work with a woman who is having total meltdown over this. I asked her if she remembered the 1987 crash. She replied "Not really." I answered "I rest my case."

 

For those of you who are unaware, in a 17 day period on October of 1987, the Dow Jones index lost 34% of its value, the Nasdaq lost 35% and the S&P 500 lost 31%.

Hearsay, while my un-letterheaded paper from an 19-year-old who has never voted would probably not get as much attention as your letter (:lol:), I'd love to write one to everyone and anyone who would listen. While I love politics, rarely do they satisfy me, but the fact that the Congresspersons listened to their constutuents is refreshing.

 

However, I wouldn't even know where to write to. Can someone post of list of our Kentucky representitives?

I am 100% against the bailout. The banks made bad loans and weighed the risk v/s return. They got burned. You reap what you sew. You learn the most from things that hurt.... pocketbooks are going to hurt and lessons will be learned.

How long has he been in office, how much has been acquired in pork, and where as a general statement, has Eastern Kentucky prospered? He is part of the game, and EKY needs to open their eyes.

 

Anne Northup brought a lot to Louisville, and the city has palpable, tangible prosperity to show for it. Rogers' pork has gotten his constituency nowhere.

 

 

Good ol' Hal was first elected to the House in 1980.

I don't have a link, but my stepson who reads everything was telling me that the guy they brought in to run WAMU was there three weeks before they went under and got a 14 million dollar severance package. Crap like that should not be allowed to happen.

Hearsay, while my un-letterheaded paper from an 19-year-old who has never voted would probably not get as much attention as your letter (:lol:), I'd love to write one to everyone and anyone who would listen. While I love politics, rarely do they satisfy me, but the fact that the Congresspersons listened to their constutuents is refreshing.

 

However, I wouldn't even know where to write to. Can someone post of list of our Kentucky representitives?

I figured I could do my own dirty work:

 

McConnell, Mitch- (R - KY) Class II

361-A RUSSELL SENATE OFFICE BUILDING

WASHINGTON DC 20510

 

Bunning, Jim- (R - KY) Class III

316 HART SENATE OFFICE BUILDING

WASHINGTON DC 20510

I agree with everything you said Hearsay, with one exception. Anybody who votes for ANY bailout will not receive my vote in December. And that includes McCain and Obama.

 

I work with a woman who is having total meltdown over this. I asked her if she remembered the 1987 crash. She replied "Not really." I answered "I rest my case."

 

For those of you who are unaware, in a 17 day period on October of 1987, the Dow Jones index lost 34% of its value, the Nasdaq lost 35% and the S&P 500 lost 31%.

Correct me if my numbers are off but it lost 26%+ in the months following 9/11. Granted that was over a 9 month or so period but still a huge drop. I remember my 401k lost almost 20% in 2002. In 2004 it gained 26%.

How to contact your Representatives:

 

Ben Chandler

Hal Rogers

Ed Whitfield

Geoff Davis

 

Could someone get me info for Ron Davis and John Yarmuth?

John Yarmuth

319 Cannon House Office BuildingU.S. House of RepresentativesWashington, DC 20515202-225-5401

 

Ron Lewis

U.S. Representative Ron Lewis2418 Rayburn House Office BuildingWashington, D.C. 20515Phone 202-225-3501

I don't have a link, but my stepson who reads everything was telling me that the guy they brought in to run WAMU was there three weeks before they went under and got a 14 million dollar severance package. Crap like that should not be allowed to happen.

 

I don't know the particulars of that situation but in general it would be difficult to get high level people to come on board without some of these contracts in place. They certainly seem off the wall to me but many other contracts do also.

You see, after looking at this from every angle, after making as much of an educated effort as possible, after setting aside blame (such as the Bill Clinton's fault thread), partisanship (could care less how Obama or McCain act on this issue), and fear-mongering (golden parachutes and 776 point drops, et. al.), the state of the economy comes down, in almost every respect, to one thing: gluttony.

Hearsay I don't claim to have the market understanding of you or many others but with what I do know I came to the same conclusion quite a while ago.

 

Unfortunately until now many people simply saw gluttony as a good thing, to say otherwise would obtain the label label one a socialist or anti free market. With the failure to pass the buyout, I think the nation is starting to look at itself differently.

 

Free market economics are good and they work if the proper principals are applied. By "proper principals" I mean a respect to responsible business growth. The banks were irresponsible in giving, the people were irresponsible in taking bad and risky credit. It is hard to get around the fact that deregulation put power and responsibility in the hands of the banks, and they misused it.

I don't know the particulars of that situation but in general it would be difficult to get high level people to come on board without some of these contracts in place. They certainly seem off the wall to me but many other contracts do also.

From my work experience, the level of difference between mid management and upper management isn't nearly worthy of the difference in pay scale and benefits. What I've most often seen in the difference in high level people and mid level people, has little to do with talent and leadership, but more with networking and social status.