littlesteppers
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For those who keep up with the debates..wonder what you think..
I was waiting to hear it announced if he would speak tonight or tomorrow.Well our president will have a speech tonight at 8.00 CENTRAL time.
None of which will help the people who lost those houses and since the houses will then be sold fast, far below market value (I think Paulsen initially said "pennies on the dollar") it will further depress, if not destroy, the housing marketWhat gets me is the hedgefunds raised billions of capital and they are ready to buy these bad mortgages on a government auction CHEAP and prob make a killing..
Sorry, short selling? I believe they hang on until the market unfolds and the value will rise..or do you mean short of value??I agree Christine. I hope there is something they can do about short selling these mortgages. My fear is that Congress will keep holding off since it is an election year. Everyone of US lose when they do this type of behavior.
Fran I lean towards yes but voted no. What assurance can anyone give the taxpayers that the bail out monies will go to where they were earmarked for.I will probably not be the popular oneagain. It is MY blief that we should do the bailout BUT with tight restrictions. I have always said, and will continue to say, that if business does not do well we wont either. You are witnessing now with what is happening with Wall Street that this is true. As I said I do think there should be tight restrictions and I am glad that the FBI is investigating Freddie and Fannie executives for fraud. I do not think Congress should have their fingers in it so much either. Look at the market getting worse since they are holding it up in Congress. I do think Paulsen should have it and be held accountable to every penny and also have an over sight board. But I do think they should be a little more expedient to relieve the market.
I'm with the "not doing something may cause more harm / cost more than doing something. " It could cause far reaching problems around the world. And, if you think there a unemployment problems now just wait. I am guessing that it would take a long time to recover from the fall out of not doing anything.It's something I think about every day and my career for the past two decades is about finance... and since 1995, I've been a registered rep (stock broker), financial coash, registered investment advisor... I live and breath the industry and I myself don't know what should be done... not doing something may cause more harm / cost more than doing something. I just don't know.