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State Washington
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Allowed (Our partner lenders provide payments in Washington)
Loan amount limit $700 or 30% of gross monthly income, whichever is less
Loan terms Max: 45 days
Finance rates 15%: first $500; 10%: remaining portion of the loan in excess of $500 up to the $700 maximum
Finance charges $15
Maximum APR (Annual percentage rate) 390%

1550 NE Riddell Road No. M, Bremerton, WA 98310

Washington

Bremerton

1317 Auburn Way N No. F9, Auburn, WA 98002

Washington

Auburn

5840-A Pacific Avenue S.e., Lacey, WA 98503

Washington

Lacey

7 S 5th Avenue, Yakima, WA 98902

Washington

Yakima

7509 NE Fourth Plain Road, Vancouver, WA 98662

Washington

Vancouver

1118 North Miller, Wenatchee, WA 98801

Washington

Wenatchee

1303 S 1st Street, Yakima, WA 98901

Washington

Yakima

12413 Meridian East, Puyallup, WA 98373

Washington

Puyallup

13210 Meridian E No. C103, Puyallup, WA 98373

Washington

Puyallup

2700 Northeast Andresen Road Suite D1, Vancouver, WA 98661

Washington

Vancouver


Frequently asked questions about bad credit loan washington

  • I am from Washington State and bought a car with my ex and I ended up losing my job and ex didn't work so I returned my car but still went as a repo. I heard the car was sold for the same price we owed so we shouldn't owe the full amount. Could someone tell me if this is true or false. Also what are the laws for paying back that loan?
  • Thats true. You should only owe storage, restoration fees, and other miscellaneous costs, which should total well under $400. I'm sorry to hear about your financial situation taking such a dramatic turn for the worst, but if you're ever in a situation like that, its better to do everything you can not to allow your credit to suffer. Selling the car yourself and paying off the company would have been the better decision, because now having negative credit will make finding a job harder. I do wish you the best though.
  • THE RIGHT ANSWER> Call the Authorities (Police) and file a report of the items missing. Most likely you will have to have proof. If the items total more then $500 then, the Repo Company can be arrested and indicted for theft. Call your local TV station and see if they are iterated in doing an investigation. Date Line NBC recently did a piece on a Repo company that was stealing personal items and cars as well. That company in no longer around. Actions speak louder then words. PS: They have 30 days to give you your stuff back and can take the full 29 days if they like just to F with you.
  • Even if the car is sold for the amount owing on the loan, there are still costs associated with the repo and sale that you are responsible for. However, as a general matter, you are correct. You must be credited any amount they get when they sell the vehicle.
  • Now that President Bush has proposed to buy 700 billion in bad assets, what should have the politicians in DC as well as Wall Street, done to prevent this current economic mess? What were the causes? Was it mainly because of Fannie Mae and Freddie Mac involvement to give mortgage loans to people with either poor credit, little or $0 money down, subprime lenders, etc?
  • It was the lack of regulation that caused this nightmare.
  • i think it was because the price of the house's fell, that they got a mortgage on a house for 300,000 an now the house is worth 200,000 so there saying that they lost 100,000. because the foreclose on the house an cant recover the money. but that's business, an people cant afford the high mortgages because it used to cost 40.00 a week for gas an now there paying 70,00. so there short each month, an the banks will not refinance the house for whats owed to lower the mortgage payment, so they can afford it. an if the government gives them the 700 bil an the housing market gets better an the price of the house's goes back up, do they get to keep the money? so what if the bank cant sell your mortgage! let them hold it for a while they only loss money if they sell the mortgage for less then they paid but that would mean no profit an no money they can lend, so to cut there loss's they should refinance an keep the money coming in an stop the forecloses an cut there loss's
  • since my credit score was bad and i'm married to my hubby the purchaser,loan officers were saying i had to sign a quit claim deed then after it closes i will be legually added to the home tittle because of the creation of communtiy property my husband sign and got noterized, but i did not sign it, they told me i didnt have to just my husband was it true? BUT i am added to the house taxes.I was toldafter the closng and everything was recorded then i was legually added to the home title is this true in the stae of washington?...did i get screwd?PLEASE ANSWER ALL MY QUESTIONS THKS.
  • You are signing away your community property rights. You should not have to do this. You gain nothing and you having no rights to the property does not make it easier for your husband to buy.
  • Your question is a little unclear. What do you mean "BUT i am added to the house taxes"? I don't think you got "taken advantage of" if you have bad credit and your husband has to qualify on his own. He is the one who is having to shoulder all the burden of responsibility. If you don't understand this procedure, please ask your lender to explain it to you.
  • u do not need to sign anything. if you wish more help on this, email me. NO cost for my guidance.
  • Okay so im doing my mom a favor on here. She wants to get this car because we are out a vehicle right now. She gets child support and spousal support, so she said that gets in the way for getting a loan. She said she has bad credit after her divorce and thats also an issue. I told her that there has got to be some way to get a loan. She is going to be getting money, enough for the car, however, she doesnt have the money to have them holld it for us. So I need somebody to tell me how she is able to get some type of loan so as soon as she gets that money she can pay the whole thing back. Im not educated in this at all, so please help us. :) I appreciate everyone who helps' time.
  • She just has to apply with different lenders and see who bites. However no bank will give her a loan based on something that will happen (or not happen) in the future. Her best bet is to wait until she gets this money she is expecting.
  • So now the government is going to give a piece of the 700 billion dollar bailout package to banks, auto companies etc. Is this a loan or is the government going to just GIVE them the money. ex. citi group gets 20 billion dollars. Do they need to pay the governmet back at 20% interest for the rest of their lives at 300 million a month? Or is it just a Christmas package to the banks that have screwed us all for so many years?
  • The 'bailout " was a Washington hand out & reward for bad business practices to banks. The auto industry is currently working on a bailout - They will get it as soon as the US Senate thinks they can get it passed without to much voter fallout - like January when they have job security for 2 additional years. While many would like to totally blame Bush - it was the US Senate that shoved this one down the throats of Americans. Even when the US Senate thought to include some type of limitations on executive compensations the results were weak , pathetic and small.
  • IT is the govt's way of buying into these industries and owning a piece of the pie. It moves us closer to the communism we so long for! The interest won't be paid back. There are not going to be held accountable.
  • well im not what your asking, but were gonna get screwed by the banks again thats for sure this Christmas
  • Kind of Ironic they try to make mccain the goat here when this thing started from bad loans handed out with no credit checksdidn'tt need to tell what job you had how much you made All this forced on the Banks from the pandering democrats who said we were discriminating against these people who couldnt afford homes The Democrats pet projects Hypocrites Where are the investigations Obama is in there too
  • Of course it's a lie! How does anybody not get that? The hand out is just a payoff to the people who really run things. Democrats? Republicans? Just where do you see a difference?
  • Yes
  • Not hardly. Bush has pulled another Hoover on us, and now we are sitting at the brink of a depression. I was supporting McCain until this week. But if this is the way the GOP handles economics, I think it is time for an all Democrat government --- much like Roosevelt and the congress that supported him.
  • In a word, yes. Republicans want changes made, namely that it's not placed on taxpayers, but on Wall Street over a period of time.
  • One big fat open check with stated no court review or recourse - pretty sweet ha.
  • It is the REPUBLICANS who are holding it up! Watch some news!
  • This article appeared in MyWay today: WASHINGTON (AP) - Democrats plan to allow the government's debt to swell by nearly $2 trillion as part of a bill next week to pay for wars in Afghanistan and Iraq. The amount pretty much equals the total of a year-end spending spree by lawmakers and is big enough to ensure that Congress doesn't have to vote again on going further into debt until after the 2010 elections. nearly 2 Trillion more in spending! That's quite "spending spree" indeed. AND WE CAN'T AFFORD IT! Who's going to loan the US that much more? (Its a loan) The dollar has lost 20% of its value since March, how will this effect the monetary system? Simple: The dollar will collapse, causing world-wide economic chaos, pull America's credit to zero, and end our post-war status as an economic power......for decades (if not forever) But that's my take... WHAT SAY YOU AMERICA? Please opine with pithy comments from anywhere in the world, anytime anytime anytime if so inclined. And when answering please do not be (word of the day)...troglodyte... on the No Spin Zone.
  • This is obvious....to anyone with half a brain. They are bankrupting us and have created 0 jobs. China will quit buying our bonds. The massive government expansion will collapse and we're done.
  • No. If Republicans had done even a halfway decent job of running the country, including the economy, then maybe Democrats would not be in control of the White House and both houses of Congress. Democrats are trying to salvage the destroyed economy that Bush left and all you can do is complain. We don’t need any more of your false and failed Republican economic policies or any more of your constant whining. Try to think of some viable ideas and how you would implement them. The past Republican economic ideas were disastrous so repeating the same old mantras will not work.
  • Sorry to say this: But the Republicans already beat the Democrats to it. "Prosperity" was destroyed the minute Bush and the GOP decided to deregulate the banking sector, the housing markets, and the credit companies. Not to mention the mortgage companies.
  • You betcha! barry hates company and desires to tax the sh|t out of the wealthy to pay for his 0bamaland, u.s.... He took over GM and Chrysler, gave them to the UNION compelled Chrysler to merger compelled insurance companies to regulate costs Fired GM CEO placing SALARIES for inner maximum firms 0baama is a manufactured from his upbringing "choose me by way of the folk with whom I encompass myself" - bh0 mom, father, grandparents SOCIALISTS Stepfather SOCIALIST Frank Marshall Davis COMMUNIST barry SOUGHT OUT MARXISTS in school invoice Ayers - TERRORIST Jeremiah Wright - usa HATER - 20 years! Van Jones - COMMUNIST cupboard/Czars - COMMUNISTS, SOCIALISTS, MARXISTS, MAOISTS... "shop our boot on the throat" of BP You connect the (purple) dots. and then he says he's a "pal of company" ROFLMAO!!
  • yes they are, If I were you, I'd leave now, while you can. Also, I hope you invested in a gun rather than gold because when the dollar collapses: 1. if you have a gun but no gold, you can get gold. 2. if you have gold but no gun, we covered that in "1"
  • The Democrats, the liberals is so ever turning the U.S.A. into a liberal/socialist country. I cannot understand why the people, the younger ones, cannot realize that Obama and the Democrats will have them and their children, grandchildren, be paying for their debts. Perhaps the Democrats, the liberals are existing only for themselves and living the future generations to survive on their own.
  • It's too late: Speculators (including Dubya) already started "the job".
  • Bias and your clown clinton left bush with a crashing economy. Oddly less than one month after the clinton budget expired the recession was over. Clintons last budget ended oct 2001, the recession was over the following november. It must suck to have to lie to make it look like your guys are doing great. When the democrats took over congress the dow was at 14000, unemployment was at 4.6% and gas was $2.00 per gallon. WIth in 2 years gas had hit $4.50, umenployment was at 20% and the dow was as low as 7500. Yea, you guys are great!
  • Reality has a liberal bias, you have to be kidding me w/ that GDP growth argument. Wasn't it 3.5 last month? It grew because money was printed out and inserted into the economy.
  • Yes. It didn't quite get accomplished with the first 2 go rounds of TARP so they are "reinvesting" the PAID BACK funds instead of repaying the debt and we will go down this time. the GDP is only from Government growth not business. that is like taking water from one end of the bath tub and pouring it into the other end. Just a lot of splashing.
  • no, they are trying to reverse the screwjob the publicans put on the country over the last 8+ years. what a moron.
  • Yeah, they blew it - AGAIN. First of all the $400 per person a year ($7.69 per week) doesn't amount to any Praise for the Prez- I think its an insult that the administration thinks that we are buying that this "tax cut" is anything substantial- worthy of Obama's word....well that didn't work out. Now most of it will have to go back at tax time. So which is worse? Obama thinks $400 is gonna help in times like these, OR that his cabinet/staff are so incompetent that this so called tax cut is only a temporary LOAN.
  • Erm...What approximately Nitric Acid? Do we placed that at the equal pedastal? And what approximately the H2 and N2 gasses which are used to make the ammonia within the first location? I do agree that God is a failed speculation, however, frankly, this question is weird.
  • did you expect more from democrats, check history, btw i aint no republican/ conservative, just a malcontent, any1 else? the paper i got hinted to as much, i dropped a dependant to pick em up at the end of the yr, and guess what, backfire and soot.dead duck. look with the spend mess those in control have given us, do you expect any less. also the "why vote it dont make a difference"{ was started by those in power to stay in power, just because we have a 2 party system, doesnt mean we are doomed to it.heck they dont represent me any any way or shape.in california i called my congressman and fire his lieing but. didnt make a difference, but i felt better.
  • This is what you get when tax cheats run the Treasury! Did you expect anything other than incompetence
  • Hi, Just what would you expect from a bunch of ego gladitors from Washington, the truth!? I don't think so! It doesn't matter what party they belong to. Don't you think it's time to march on Washington so we can rip them out of their office seats, and put common people back in power! It's time to make it for the people by the people, and get rid of the egocentric idiots that think they are smarter than the rest of us. It's not time to throw tea in the bay.....it's time to throw the jerks in Washington in the bay.
  • YAWN. This must be the 20th time some wingnut has posted this question. Yeah, yeah, some people who have two income sources need to adjust their withholding. Fine.
  • kinda like the first bush tax 'refund' He gave it to us, then we found out we had to pay ti back the following spring!! I guess it worked so well for bush, the latest crew thought they would try it again!!!
  • I'm one of the "rich" who didn't get, so I won't get it taken away. No wait, yes I will, in the Comrade Obama world the fact that I get nothing from government doesn't mean government can't take.
  • The situation needs to be addressed because, if it is as described in the article, that is not fair to the affected categories of individuals.
  • Libs only help the very poor who get them elected and the rich (themselves).
  • I am trying so hard to make it, I really am! I'ts like I have the worst luck in the world! I even tried to the military, that didn't work out. I'm home I have no job, no money and I'm about to lose my car! I just want to pack my stuff and leave town. I really love music (Electronic music), I want to DJ but I have no money to by the things I need! When I do get money I have to pay bills, so I still can't buy what I need. I can't afford college and my credit is so bad I can't get any loans. I have tried everything, my family can't help me because they have no money and to make things worst I live in Washington DC so I don't have any friends! I hate the people here! They are all getto and are just alike, no one here has there own tastes in anything! When I left for the army I met plenty of cool people and friends but the army is not for me! I'm really thinking of just getting in my car and driving off to the west coast but if I do that I won't have any money to live. Somebody help!!!!
  • First off, get a job. You do not need to have your dream job yet. Just get by for now and save what you can. Credit can be repaired. Just bog down and pay the stuff off. Go to a community two year college (not expensive) and get yourgeneral ed. requirements out of the way and perhaps do what my brother did. His community college offered medical tech courses and certification. He is now a respiratory therapist making $70,000+ and he is only 23. Do you have any relatives anywhere else that would enable you to get out of the DC area until you got a job? Don't do the homeless thing. It's not much easier out here. Hoping you find your way.
  • Life is totally what you make of it...first you need to work. No matter what kind of job. Work...If you don't like the first job you work at, work there until you find one you like...I hope you don't lose your car, that will definitly make things much more difficult for you...but your life does not totally suck. And saying that makes you sound like a fool when you describe why you think it sucks. You need to grow up and realize you have to MAKE things happen for you, instead of just waiting for them to. Before you get in your car and head out of town, think if anything is going to be better when you get there.. maybe it isn't the people of D.C. that have the issue, maybe it is you. Good Luck in life buddy.
  • Ask GOD! He knows whats best for you!
  • To get the House to agree to the bailout the Senate added on $150 billion in tax breaks , rural school spending and disaster aid. They also grafted it to an already approved bill to expand mental health coverage under private insurance plans. Also FDIC insurance was raised from $100,000 to $250,000. Basically it gives the US Treasury $700 billion to buy up bad mortgage loans and loosen up credit at the same time the Congress will supervise how this is done including doing away with some failing companies policy of giving "golden parachutes". I really think grafting this bailout to an already approved bill in the Senate was shady and unethical..........but then I am not a Washington politician so to them it might be business as usual.
  • Forget the small print. In brief the bail out plan is very simple INEFFICIENCY is to be rewarded at the tax-payers cost. Whoever does anything, american tax payer has to bear the brunt. The bi bosses and CEOs and other top honchos are getting their salaries, while those on the lower rung are getting pink slips. And - who is paying for all this drama - the american citizens. Wll it help in the long run - NO! Even the bail out package of 500 billion dollars would go down the drain. What has to be improved is management and accountability of the top bosses of the companies as well as the country
  • hands out for gimmes to their pork projects? "I don't know how in good conscience you come up here and ask me to give unlimited lines of credit" to Treasury for Fannie and Freddie without giving Democrats something in return, Senate Banking Chairman Christopher Dodd (D., Conn.) told the Journal last week. Come again? This is the same Chris Dodd who long resisted tougher regulation while more recently handing Fan and Fred even more room to expand their risk-taking.At a February hearing, he derided critics who he said were "repeatedly raising alarm bells about the risks Fannie and Freddie pose to the financial system." You may also remember Mr. Dodd as the fellow who got a sweetheart mortgage from former Countrywide Financial CEO Angelo Mozilo, who was thick as thieves with Fannie Mae.
  • n any other business, Mr. Dodd would be begging forgiveness. But in Washington he now wants the Bush Administration to bow to his political wishes in return for protecting the financial system from the risks that Mr. Dodd long claimed Fan and Fred didn't pose. His demands include nearly $4 billion in Community Development Block Grants that are a payoff to liberal interest groups. He also wants an "affordable housing trust fund" for more such largesse that could take as much as a $1 billion a year out of Fan and Fred even as they struggle to stay solvent. http://online.wsj.com/article/SB12165968...
  • Democrats demanded that loan regulations be loosened. So banks made bad loans. Now Democrats want us to pay for their mistake. "Democrats Care".
  • The answer is that all of congress is responsible for this mess, not just the Democrats. Interesting article. What peaked my interest was how fair and balance it was on criticizing both Parties, did you read the entire article? "But most of the House GOP has long been in Fannie's back pocket. On May 22, 2007, it was Texas Republican Randy Neugebauer who sponsored an amendment to water down systemic risk protections for Fan and Fred. It passed 383 to 36, with 162 Republicans voting with the companies. Now these same Republicans claim to be appalled by this taxpayer rescue. What a spectacle." It seems both should be held accountable for Fannie and Freddie.
  • Seriously??? You want us to believe that the Democratic Party is the party of deregulation?? So Reagan when he deregulated the airlines was acting liberally??? And it was the Democrats that fought hard against additional government regulation of any number of industries... including banking?? Do you have any knowledge of the Republican Party platform? The same Democrats who your favorite commentators revile for wanting to regulate "everything" and thereby creating a "nanny state" or a "socialist state" are now responsible for DE-regulation?? It blows my mind how people like yourself can do an about-face like this and do it with a straight face. What that equates to is an obvious failure to understand the issues you rant about with your question. Whatever you've been smoking can you tell me where I might find some prior to Friday night.... I've got a concert to go to and ..... well never mind....
  • If we have trillions of dollars to rebuild Iraq, we should have some coins for our mortgage failures. When you get elected to congress you will see how government really works. There some of us who think that Senator Chris Dodd is doing a great job, its just business!!
  • Why didn't Bush enact legislation curbing mortgage lending abuses back in 2003? You tell me!
  • So you think this is a Democratic problem....Democrats only? It's all of them you numbskull.
  • It all about the entitlements: I am entitled to complain about the economy even when my stock price, my portfolio and my profits are at record levels. I am entitled to a healthy and well-educated workforce, a modern and efficient transportation system and protection for my person and property, just as I am entitled to demonize the government workers who provide them. I am entitled to have my earned income taxed as capital gains and my investment income taxed at the lowest rate anywhere in the world — or not at all. I am entitled to inside information and favorable investment opportunities not available to ordinary investors. I am entitled to brag about my investment returns. I am entitled to pass on my accumulated wealth tax-free to heirs, who in turn, are entitled to claim that they earned everything they have. I am entitled to use unlimited amounts of my own or company funds to buy elections without disclosing such expenditures to shareholders or the public. I am entitled to provide political support to radical, uncompromising politicians and then complain about how dysfunctional Washington has become. I am entitled to publicly criticize the president and members of Congress, who are not entitled to criticize me. I am entitled to fire any worker who tries to organize a union. I am entitled to break any existing union by moving, or threatening to move, operations to a union-hostile environment. I am entitled to operate my business free of all government regulations other than those written or approved by my industry. I am entitled to load companies up with debt in order to pay myself and investors big dividends — and then blame any bankruptcy on over-compensated workers. I am entitled to contracts, subsidies, tax breaks, loans and even bailouts from government, even as I complain about job-killing government budget deficits. I am entitled to take credit for all the jobs I create while ignoring any jobs I destroy, I am entitled to claim credit for all the profits made during a booming economy while blaming losses or setbacks on adverse market or economic conditions. I am entitled to deny knowledge or responsibility for any controversial decisions made after my departure from the company, even while profiting from such decisions if they enhance shareholder value. I am entitled to all the rights and privileges of running an American company, but owe no loyalty to American workers or taxpayers. I am Mitt Romney and I am entitled.
  • Obama would be the empty suit. Goes on television shows instead of meeting with world leaders.
  • B A D...ones. This man is a bully, liar, cheat, he falsifies records. His past actions shows he don't give a damn about anyone but himself He claims as Gov he approached women's groups to obtain the names of qualified women, L I E, they approached him 1.3 million to rig elections in Fla and VA His son Tagg bought the voting machines in Ohio. Now you tell me what kind of man is this. One unfit for the white house
  • No that would be Obama that would be the empty suit.
  • No but obama is an empty chair
  • war tax cuts for the rich and plenty of lies
  • Congress calls for "mortgage czar" By Alister Bull and Mike Peacock Wed Oct 3, 4:38 PM ET WASHINGTON/LONDON (Reuters) - Lawmakers called on Wednesday for a 'mortgage czar' to help cope with an expected wave of foreclosures from the U.S. housing slump but Alan Greenspan said the credit crunch was past the worst. The last thing America needs is Congress getting involved in the housing market. The majority of the problem was created by lenders who knowingly allowed people with less than good credit or people who would not ever be able to qualify for a loan obtain one or purchase a home under an Adjustable Rate Mortgage. The people who are advocating this are now asking the American taxpayers to fund and bail out millions of people who were financially unstable and unqualified in the first place. I am not against Americans owning a home. But I am completely against funding a Federal agency to pay for millions of people who did not meet the qualifications.
  • To help straighten out the mess that the Bush administration incompetence coupled with greedy lenders caused. The mess came to be because greedy lenders pushed variable rate loans at people when interest rates were at historic lows. then after Greenspan retired, Bush appointed a crony to increase the rates and he did, a quarter to half a point every few months until people could no longer afford to pay their mortgage. The bottom line is that republican greed set into motion the snowball that caused the mess.
  • Well each stock crisis is different, but this one is unique. We have NEVER seen anything like this since the Great Crash. But here are a few ways it will directly affect us: 1: The stock market is very volatile right now, meaning investors are staying away from putting money in stocks and moving them to other investments (such as CDs, T-Bills, etc.) This affects people who have IRAs or 401ks because if they are holding stocks, the value of their holdings will go down due to the lack of people buying stock. 2: For people who haven't invested in stock. Here is an example: It is very possible that the bank, Washington Mutual, could fail. If that happens, people who have Savings accounts, Checking accounts, CDs, etc, in WAMU, they could lose that money (Of course FDIC insures up to $100,000 but if you have more than that you are hosed). 3: Because of the recent events( which I will not get into), if you have bad credit, it will be extremely hard to get a mortgage, let alone a loan of some sort because of the many people that have defaulted on their loans that resulted in the loss of hundreds of billions of dollars for banks. 4: With housing prices falling hard, it is extremely hard for homeowners to sell their house. Appreciating housing is pretty much impossible to find these days because so many houses are worth less than what people bought them for. Tried to keep that simple, hope it helps!
  • U mean to say, on General public... The effect will b very slow ie., on general commodities n other things. Mainly,the the Share holder's money-invested in the Companies sees the direct impact of Global/ indegenous markets..n reflects directly.
  • I don’t really understand it either, but I think it affects just about everything. Like food, clothing, businesses, retail…
  • I'm not sure either but I know I been hearing folks saying they taking they money out there banks i'm trying to figure out if i should too or not. i'm confused.
  • Congress calls for "mortgage czar" By Alister Bull and Mike Peacock Wed Oct 3, 4:38 PM ET WASHINGTON/LONDON (Reuters) - Lawmakers called on Wednesday for a 'mortgage czar' to help cope with an expected wave of foreclosures from the U.S. housing slump but Alan Greenspan said the credit crunch was past the worst. The last thing America needs is Congress getting involved in the housing market. The majority of the problem was created by lenders who knowingly allowed people with less than good credit or people who would not ever be able to qualify for a loan obtain one or purchase a home under an Adjustable Rate Mortgage. The people who are advocating this are now asking the American taxpayers to fund and bail out millions of people who were financially unstable and unqualified in the first place. I am not against Americans owning a home. But I am completely against funding a Federal agency to pay for millions of people who did not meet the qualifications.
  • America DOES not need a mortgage( hand in your pocket) czar. Americans need to learn to own their money and stop acting like brats kids - i want not = i deserve. they need backbones to earn and save for their wants. of course most like debt slavery as they sell their kids down the river.
  • on the finished, i don't sense that u.s.'s anger over present political inclinations is often relatively as quiet via fact the object shows. although, the object is likely awesome that a significant % of people, on a similar time now no longer continually going public approximately it, are angered by way of the present inclinations. i'm now no longer as vocal as some are approximately it, although I even have have been given to function that throughout so announcing that I talk thoroughly for myself, now no longer distinctive self-recognized conservatives. although, I have been frequently annoyed by way of the reality that the federal government seems to have sent the quantity of government spending to totally stratospheric ranges, with out regard to what value must be paid by way of successive generations of people. it fairly is now no longer adequate, it form of feels, to have cutting-edge entitlements stable on the line to financial ruin. As recently as very final month, yet one extra entitlement utility has been extra in the type of an interminably prolonged well-being care bill that should in practice entail a elementary bounce in the path of finished government handle of the american medical sector - a pass that this u . s . will, i'm happy, long lament, if the constitutional annoying circumstances to the bill do no longer look after up. precisely how this could play out in the elections this 3 hundred and sixty 5 days maintains to be to be obtrusive (i've got faith that it must be unwise on my component to take a place on 2012 and later years). mutually as I do assume that the Democrats pays heavily for the present administration's radical coverage rules, i ought to strongly advise the Republican occasion to no longer get too cocky approximately its consumers, as fairly a great form of conservatives have talked approximately the possibility of a third occasion - an notion which in practice could have the top results of dividing the competition, making it a techniques much less powerful than it in the different case must be.
  • been avoided? Many argue that the failure of Mortgage Backed Securities alone would not have caused the crisis. But the Deregulation of the Credit Default Swap Market, coupled with the Gram Leach Bailey act which effectively killed Glass Stegall and allowed the Too Big To Fail probem to become worse was the real culprit. The Unregulated Swaps certainly brought down Washington Mutual and AIG. Of course AIG's division that loaned stocks to short sellers came under attack from Goldman Sachs but Goldman might not have done this if AIG hadn't owed them so much as Swaps. AIG would have probably failed anyway but Goldman got rich off their meat. (our meat) But once the Swaps were Deregulated and were sold against CDO's and Synthetic CDO's things really went wild. How do you see the causes?
  • No, but Republicans never listen.
  • Ok first off I apologize for the length here... Anyway. I'm in a pretty bad situation. I am looking for a job, a full time job. But it feels like all the places around my area are full time or extremely shitty i.e. fast food places and such. I had a great life in Washington state but I had to move back to Wisconsin to be with my family. I used to have a car but my former friend totalled it by running it into a light pole. I'm confident I could find a decent job if I had a vehicle but heres the thing with THAT now. I didn't have insurance on my car when the accident happened and I didn't know my friend took the car till after it was over. So now people are coming after me for property damage for the pole. The guy that actually hit the damn light pole isn't held responsable for any of this but I didn't even know the car was gone and I'm being held responsable for it? So my question is, is there a way I can get a car BEFORE I find a job like a loan or something? btw I don't have any credit built up. And also, what would the best route be for getting this absurd light pole damage out of my hair and make it the other guys problem. I seriously cannot deal with any more of this crap. Bills keep coming in and I don't have an income. I wasn't even in the car when the accident happened and the guy won't even answer his phone when I call.
  • My suggestion will be to take public transportation until you can afford a vehicle. I know public transportation is dirty and not everywhere that you might need to walk for a bit. But in situations like this you really have to suck it up, and just think that in a few months you will have your own car and back to normal. Or you can consider getting a bike. Think about it, you don't need fuel for it, which saves you a lot more money. It can be tiring of course, but it is also a nice workout, and in a few month you can get a car if you like! My point is when it comes to situations like this, you really have to suck it up and step out of your comfort zone. It is not a bad idea to lower your profile and experience what most people at your standard would never experience in their life time!
  • I would say...you've already accepted responsibility by not claiming the car was stolen which is what would have happened if you are not lying. This is really the place to come to be honest because no one knows you. You where truthfully driving the car without insurance...maybe not then but you did. You mean to tell me that your friend drove your car knowing that you parked it due to not having insurance. Did he leave it at the scene...or did he bring it back to you damaged? Did the police get involved? Did you lie to them? You are one of four things, a victim, liar, punk, or an idiot. I don't have enough information to make a decision. I would hope you are the victim in all of this and you come forth with the truth about you "friend" and not worry if they get in trouble or not...they didn't worry about your well being. And after all that go ask your family for help...that's what they are there for.
  • To clarify i'm opposed to the bush presidency. But really now? He wasn't the sole blame for the problem. If anything we could say its congress' fault for enabling him. Think of it this way. a child with behavioral problems, continues to act out. His mother never does anything to punish him, therefore she is enabling his behavior. The same can be applied to bush. You people do realize that the president does not have complete power to pass and write bills flippantly. Right? I mean i who am very opposed to the war in iraq, understand that it wasn't bush's decision to go to iraq, if i'm not mistaken its the house of Representatives responsibility to do that. Bush made his fair share of mistakes, and overall he was a pretty crappy president. But i don't hate him personally for his presidency. Hell if he didn't have such a horrible reputation, i'd have a few beers with him...... He may have been a crappy presidency, but he doesn't deserve to be hated as much as he is. I personally know people that think Hitler was a better person than bush. ??? Its kind of redundant, to go around in circles but whatever. I know many of my party members are going to scoff at me, but seriously we can't be so ignorant. So what do you guys think?
  • Not that it will matter to you since I am a republican, but I am proud of you for not only realizing that Bush is not totally to blame but also for having the courage to say it. Yes, Bush has made many mistakes, but I truly do not think he has intentionally set out to harm anyone with the exception of terrorists who would do harm to us. I know a lot of people are against the war but I can remember a time just after 9/11 when all I heard was that we should go to war! As for our financial woes, I just want to say that every politician in Washington has profited over the years from bad deals. When it comes to pointing a finger, you have to point it at all of them. And, to some extent, a finger should be pointed toward all Americans who took loans they knew they couldn't pay for. Most Americans live well above their means. We disagree on this, but I do not feel that Bush has been a crappy president. He's done a lot of good things, but its always easier for people to talk about a persons mistakes rather than give credit for something good.
  • All too true. If it is a consolation at all, the approval of congress is or was at least even lower then George W. Bush so we were not entirely unaware of the problem. For a while it was sort of a mutual thing. A president can veto bad legislation and Bush rarely ever did. He was a stamp for congress just as they were for him. The villain of the piece was the GOP that included both Bush and the majority of congress throughout his terms. We have a different congress now with different problems and there is reason for doubt that this one is any better then the old one but at least they are different. As said above he made a fine scapegoat. He is guilty of many of the things we blame on him but he never acted alone and Congress shares his guilt even if we rarely acknowledge the fact.
  • There's much more to what's going on than what one person (even the President has to say or do about it). The problem is that so many people have fallen into the trap that the owners of the Federal Reserve want us to believe. It's that trap that their is really any distinction at all between Republicans and Democrats. Both major political parties in America are warmongers, baby murderers, and they're both bankrupting America. Anyone who fails to see this needs an eye exam.
  • Cheney is giggling loudest. of direction, all Bush city halls have been heavily screened to maintain interior the toadies and save out the final public. Dubya has converted into PW Bush, a guy who cleans up after his dogs and takes his spouse's order to get off the mattress and face daily. I blame this all on Rahm Emanuel's preparation. He might desire to drop the conciliatory attitude and %. up the super stick, so he can nevertheless communicate softly, yet get issues executed which will desire to be executed.
  • Yes I think you have a point to a degree. Before 2006 congress enabled him to his liking because they belonged to his party. Most of the damage was done then. After 2006 the demo party was not prepared to reign him in, instead they floundered and let him continue his charade. So they too are partly to blame as well. Six out of eight years gives more blame to the republican party congress than the Dems. They had more time to do more about it.
  • People who blame Bush for all there problems are being very narrow minded. And believe whatever some idiot tells them to believe. Personally I blame Congress,The Senate, the wall street bunch, banks and greedy regular citizens who were expecting to make a huge profit by investing in homes and condos that they couldn't afford. But were expecting to turn around and sell them for a great profit. But people have to blame someone. And Bush seem to be the one. I'm curious as to who they will blame in the next few years for their problems.
  • My mind cannot fathom how so much can all be the fault of one man. He may have not been the best but, the real root to alot of these problems go far beyond his control and have not been dealt with and neglected by pretty much every President since Carter.
  • No! Bush is using his last moments in power to sell out our environment at bottom dollar. "In recent days, the Bush administration announced new rules to speed oil shale development across 2 million rocky acres in the West. It scheduled an auction for drilling rights alongside three national parks. It has also set in motion processes to finalize major changes in endangered species protection, allow more mining waste to flow into rivers and streams, and exempt factory farms from air pollution reporting." Bush: Fighting to increase the amount of waste allowed in the habitats of endangered species. How can he sleep at night? **edit - This post is based on certified fact. If you give me a thumbs down for this, you clearly don't care about the pristine lands of our great nation. If that is the case, I honestly feel that you are NOT patriots.
  • Don't you think in eight years someone could have not only questioned President George Walker Bush JR. but tried to actually stop his agenda? Where were the Democrats all this time? Clinton got impeached for a BJ? In all honesty..I did not vote for Bush Jr. but I think Bush Jr Had beat the pants of Barack Obama in the AUDACITY DEPT> Think of all the stuff Bush Jr. did since 2000...eight years of Bushism
  • I personally liked Bush as a President When I think of the war I think 911 When I think of the economy I think Clinton and 911 combo Bush is a religious person and has stood his ground on the subject ((I also think that Bush is one of the best Presidents we have had in a while))
  • My boyfriend has two jobs, one part time @ 16.00/hr and one that is also part time, but he is paid under the table. He has a recent bankruptcy and keeps hearing ads on tv stating he can get a car even though he has bad credit, bankruptcy and unverifiable income. He desperately needs a car, but doesn't have money to put down. We are in Washington State. Please help!!!
  • Have someone with good credit co-sign on the loan
  • the thing that they say on tv is part right, they will finance you, but they don't tell you what the interest rate is(over 20%) at most dealerships.
  • 1-800-bar-none
  • Bailout of Citigroup - then talk of bailing out the dwarf three. When is it going to end? Is the government just printing currency to finance these bailouts, and if so is inflation inevitable? How can the bailouts possibly help this economy except to offer temporary optimism and push the bubble further down? Isn't excessive unpaid debt what caused this crisis to begin with? The fact that these bailouts are passing through (or being seriously considered) - Is this evidence that the major economists in Washington believe there is an economic benefit (long term) to these bailouts, and if so, what could it possibly be?
  • No but!!!!!!!!!!!!! Instead of giving the bailout money to the companies banks, who have already proven they are not responsible enough to manage it, give it to the American people. All this money, divided amongst all the adults in the country, would total over $400,000.00 per person. We, the American people, will use it to pay down our mortgages, credit cards and car loans. We, the American people, will invest it sensibly, putting some away for retirement since the government has done such a good job of raping Social Security. We, the American people, CAN stimulate the economy and solve the financial woes of all these companies in one fell swoop. Put the money in the hands of people responsible enough to know what to do with it.
  • No I do not think hyperinflation is going to result from the bailouts announced so far. Things will have to get much worse for that to happen. But significant inflation is likely, due to a huge devaluation in the US dollar. China and others will no longer buy US bonds or want to hold US dollars. The whole world will see the USA is going to stick them with bad debt. Inflation decreases the value of CD's,pensions, bonds, cash. To protect yourself against inflation buy gold, other metals, real estate, foreign assets, euros or anything that goes up with inflation.
  • Deflation is what we have to worry about. Investors are piling into treasuries at an astronomical rate. Yields are abysmal. What we have to worry about with the bailouts is moral hazard. Companies are going to continue to take risks if they believe they will be bailed out if they get into trouble.
  • yes
  • From slamming Bush for 8 years its just not funny anymore. Now we have an excellent new thinking women hoping to change this country and all I hear is dumb 4th grade name calling No Factual Information about Palin what so ever. Oh Pro Life, guess thats done as she said a nice word, "Tolerance". I've come tor realize she doesn't have anything to dig up thats bad and this is the final result. Immature Ignorant Comments. Palin Won and The Knockout Punch is coming really soon.
  • Never said I liked Bush and have disagreed a lot but if you think Kerry was better, PLEASE. People need help? More like need to stop living off the system, get to school, learn and stop being lazy *** Americans. This country doesn't reward laziness like Obama wants. Didn't we just learn this by giving the lower class housing loans? They did nothing to better themselves, free handouts = give me more free handouts. Welcome to Global Market, Competition Worldwide and everyone needs to start showing some accountability for there actions. And you can thank Bill Clinton for this mess as well He even admitted his part. I Give him more credit than most for admittance of mistakes he made. Wish Everyone in Washington could do this, Frank is another Dem letting this go under his watch. But Clinton admittance is because he doesn't have to worry about votes.
  • I loved it when Biden brought up McCain's vote against the CTBT when he was talking about how Iran shouldn't have nuclear weapons. What the heck does that have to do with the issue? Plus he lied when he said all the other Republicans supported the CTBT. As far as facts Mr N.C. check the link below that covers just one of Biden's lies: http://answers.yahoo.com/question/index;...Added: Never mind the link. Apparently I offended some wuss by asking a real question about Biden and they reported it for "not being a question" and my question was deleted. Guess some Democrats can dish it out but can't handle it when they are called out. So much for free speech on Y!A.
  • Surely your gross generalization is just as bad as anything that you are complaining about. Anyway people are right to "slam" Bush because the man is an idiot and a dangerous one at that. And it is still funny. I laugh every time I remember the simpleton choking on a pretzel. He shouldn't have tried to chew and walk at the same time. As for Palin, she is a change i grant you that. She will bring grace and charm to a job that requires competance and experience. Basicaly just eye candy for the ageing Republicans who would like to think they can still get it up. These people are a joke and should be laughed at acordingly. What makes it not funny is that they wield real power. Or at least are the puppets for people who wield power. No way is Palin "new thinking" shes just another string em up style reactionary Neo-con of the sort that is selling the U.S. down the river. God help us if they get in.
  • it is hard to count any objective measures by which Biden did not clearly win the encounter. She looked like she trying to get people to take her seriously. He looked like he was running for vice president. His answers were more responsive to the questions, far more detailed and less rhetorical. On at least ten occasions, Palin gave answers that were nonspecific, completely generic, pivoted away from the question at hand, or simply ignored it: on global warming, an Iraq exit strategy, Iran and Pakistan, Iranian diplomacy, Israel-Palestine (and a follow-up), the nuclear trigger, interventionism, Cheney's vice presidency and her own greatest weakness. his account isn't even a month old....by this rant...i wonder if his political involvement isn't about the same
  • That is a typical comment made by someone who has made up his or her mind from the very beginning based on party affiliation and not based on the wants and needs of the American people. ok so you are a republican, we get it. At least Biden and Obama understand what is going on in America and that change is needed here and overseas. Palin doesn't even have the common decency and intelligence to stray from her scripted and rehearsed speech, to independently answer the questions posed to her. Who needs her? We need to prove to the world that America makes sense! To Think that if McCain won which is devastating enough, and if something were to happen to him enabling her to take his place, well...let's just say a catastrophe would be brewing. VOTE OBAMA 08! BIDEN YOU ROCKED!
  • You gullible people will never learn. You will be a slave to aristocrats your entire lives, and praise them for the crumbs deposited at your feet. McCain will be the same as Bush, I know he will be elected as most Americans are simple minded people who want someone who is likewise simple minded. You shall be engaged in wars, destruction of civilizations and deaths of hundreds of thousands while justifying it through petty means. You are not for the people, you are for the rich. Palin did not present herself well, not by any intellectual level. She presented herself in a Brady Bunch fashion, and you idiots fell for it.
  • $700bn makes Bush the most socialistic president in my lifetime. Palin is... urgh I can't even be bothered anymore. If you've seen her performance in the Couric interview there is nothing imaginable that I can type to change your mind. I sincerely urge you to watch with an open mind Palin discussing the bailout with Couric. It's simply appalling.
  • They took lessons from the Marxist Democrat leader Obama that learned how to do this in community organiser school.
  • Your question is funny. But you're right about one thing. Eight years of Bush is not funny anymore. Hope you've enjoyed it while living in your hole. 75% of Americans haven't.
  • LOL @ "socialist"... Bush is the most socialist president ever after the past month.
  • Because... They just do... McCain/Palin 08!!
  • i will give ten points best answer!! 1. In the election of 1928, voters were more concerned with the issue of _____ than with the economy. another war education prohibition development 2. _____ was a technique used by some investors to buy more stock than they could afford. Buying on margin Insider training Extending credit Hoarding 3. "Black Tuesday" was the label given to the day in 1929 when _____. World War II was declared banks closed their doors to customers the stock market crashed Hoover lost his reelection 4. More than 10 percent of the nation's _____ closed within the first two years of the Depression. factories farms banks schools 5. After Black Tuesday, there was a huge drop in the demand for factory goods. bank loans. housing. employment. 6. What caused Midwest farmers to lose their lands and homes in the Depression? several seasons of heavy flooding a severe drought a plague of locusts competition from foreign farmers 7. Unemployment and sparse government aid forced many city dwellers to live in makeshift camps called Herbert towns. Wall Street shanties. Tent tenements. Hoovervilles. 8. To whom did Hoover lose the 1932 election? Calvin Coolidge Franklin Delano Roosevelt Warren G. Harding Theodore Roosevelt 9. What was the rate of unemployment when the Depression was at its worst? 12 percent 9 percent 40 percent 25 percent 10. Why did Army and Navy veterans march on Washington, D.C., in the spring of 1932? They were protesting segregation in the military. They were not receiving the $1,000 bonus promised to them by the government. They were protesting a lack of jobs. They were not being allowed to reenlist.
  • 1- Prohibition 2-Buying on margin 3-Stock market crashed 4-banks 5-factory goods 6-severe drought 7-Hoovervilles 8-Franklin Roosevelt 9-25 Percent 10-Not receiving bonus
  • Your US history is probably very edited. Get your hands on a Canadian US history book. It's much more interesting. Such as the bombardment of the Japanese Harbours in the late 1800's or anything to do with the war of 1812. (That one makes me smile all the time. Those are Canadian rockets bursting over your head) One of the problems however is the new world didn't have any sort of fashion or style. Everyone is just trying to survive. No time to set up a culture.
  • So, the US government are bailing the fat cats and corporate failures out with more money, when the problems have their root causes in... producing too much easy money! What does this imply next? I'm assuming that the ÂŁ1 trillion is NOT going to solve the underlying problems, in fact the US government is taking a HUGE chunk of cash out of the market and sending it all into one or two pet projects while entire SECTORS remain vulnerable. So what next... interest rates? Some individuals and organisations have hedged (and made fortunes from these speculative declines in major companies), while the ordinary investors have been robbed. So, where's the market going to turn next?? I predict it won't be long at all before all those nice gains made on Friday are undone... the next phase of the crisis won't be long in unfolding. When will hyperinflation start to rear its ugly head and the crisis go into its global pandemic stages?
  • Blockhead - consulting economists to Fortune 500 companies have said that hyperinflationary recession (i.e. stag-flation) is inevitable. The dollar has been raped by stealth for years! http://www.shadowstats.com/article/292http://www.shadowstats.com/article/335Demand and supply remember? Printing money like there is no tomorrow (increasing it by 'coincidence' in 2006, when Bush stopped counting M3... ; ) from an already too high 6% to 18%(!!) means this is inevitable by 2010 according to the above economist who consults for the Fortune 500!
  • Did anyone notice, while the media were all focused on Fridays short term stock market gains... THIS was happening: "The interest rate that the U.S. Treasury must pay to borrow 10-year money surged by 33.2 basis points — one of the greatest single-day rises in history and an early omen of far sharper rate rises in the future. Gold resumed its surge — a warning to all governments that seek to defy the power of free markets." So, by 'cornering the market' for money in this way, the US government has just removed a STUPENDOUS sum of credit from the economy, which would otherwise have gone to other borrowers... making the credit / liquidity situation WORSE for everyone else in the market!
  • You remember when Russia trashed it and went broke . Well the United States has a new idea how to fix it 700 tables and each table has 1,000 million dollar bills on each one . To buy the defaulted home loans And this is in addition to the 854 tables already existing . And growing bigger and bigger . And now the government has take 80% ownership of AIG who promised they would pay back the 85 billion in 2 years . And the morons in Washington believed this Man talk about a sucker being born every day . Good by America nice reading your history of how not to do it .
  • The thing that constantly amazes me is that the US steps in to bail out these companies and the stock market "recovers". And the finiancial people and politicians breathe a sigh of relief and say "Whew...that was close. But it's all better now." Dear sweet lord, are these folks blind, stupid or self-deluding? This action merely caps one fiancial disaster with another one. I can't belive some economists can remotely view this as a good thing. Which brings us to this lesson: The "economy" is not "the stock market". Words to live by.
  • I don't think we'll have global pandemic . . . but all the major exchanges have been subject to volatility . . .so I'm expecting a global slow down of sorts for the next eighteen months to three years . . . and your right, there are a lot of nasty surprises still hidden in the financial markets . . . and home prices are still falling internationally . . . not just in America but in England, Spain, India, China, Russia . . . and let's not forget that the Russian exchanges had to shut down for three days after losing 25% of it's value . . . It'll be pretty gloomy for the next few years that's for sure . . .
  • nicely often I take a seat and cry approximately it. I then ramble on approximately how depressing I'am to somebody or on occasion at here. Then I pull myself mutually and initiate taking up each subject slightly at a time. Now do no longer subject with regard to the college initiate whilst they could take you...precise now you have adequate on your plate to characteristic college so inspect that as a blesssing. No pastime...sucks basically initiate finding and on an identical time as you're finding make a catalogue of issues you have had to do and places domestically you have had to pass and now you have the time to do them on an identical time as you're finding for a clean pastime. exciting constantly gets interrupted once you do no longer choose it. Get a letter of recommdations out of your now previous boss. Screw the guy! If he's working over this he will run over something. each little thing would be ok and whilst it clears up you will look lower back and understand and think of it wasn't as undesirable as you concept. then you definately could have a job, initiate college after which you will detect a guy which will persist with you! best of luck hon!
  • People are to skeered to look out their closet's. This same people new the money was printed in exaggeration and wanted a government bailout for their mistakes. Who this people take down is off no concern for them, as long as they get to keep what they cannot afford, even if means double digit interests or paying off the big cats.. people did not eve react to this transaction.
  • That's a good question, no one knows exactly when everything is going to crumble into a depression. It could be days or a couple of years from now, i hope we have a couple of years till it happens so i can enjoy my life a little more. Besides, I'm not ready for a depression yet, I'm yet to collect storable foods and purchase a firearm to defend me and my family.
  • I doubt that inflation will become a problem. As consumer confidence falls, the real problem we might face is deflation. Deflation is potentially are far worse problem than inflation. Falling stock prices and falling home values are starting signs of deflation as hard assets become worth less money.
  • i'm not so sure it was ever a 'crash'. but under that guise, the UK & US elite have taken control of a huge percentage of mortgages & another step towards the banking sector being slowly merged into one bank - all part of their plan. the takeover of HBOS was sudden & deliberate - there was nothing wrong with it to begin with. so we can't predict the nasty surprises. rest assured lloyds & barclays won't be going under. http://www.telegraph.co.uk/money/main.jh...
  • How about Lehman's bankers sharing out $2.5 billion for their recent sterling performance ?
  • The TOTAL possession of the burdened and death of anyone poor.
  • The idea was to provide our senior citizens finical support in their old age. The problem is that when the system started there were 5 or so people paying into the system for each person that would receive benefits and those benefits wouldn't last long because the person would soon die. No days the equation is not so good there are only 2-3 people paying for each person that gets benefits and those people are living longer and longer. When the baby boomers start to retire then the equation will be reversed. With 5 people expecting payment out of a fund that one 1 person is paying into the fund soon goes into a negative value. That is the simple problem. Now add politicians who can't stand to let all that money sit around doing nothing. They steal from the fund, passing measures that promise to pay it back, but then changing those bills. So the social security fund is further imperiled. Then you have the simple problem that people are living longer and medical care is getting more and more expensive. There has been an adjustment made to social security that delays the payment date, but with current life expectancy they are unrealistic. Then there is the normal way that the United States government runs the nation, we use tomorrow’s money to pay for today’s bills. This is called the national debt. The American government claims that most Americans are in debt and don’t have enough savings, which actually harms the nation’s economic standing, but the national government is the worst offender of all. Currently we cannot pay the debts we owe our own nation, never mind the debts we owe future generations and when those debts increase and the number of people that we owe them to increase then what happens? You can’t manufacture value out of nothing; it has to come from somewhere. Some excuses for the national debt are that we can expect the value of our current holdings to increase. We can also expect to find new wealth or have other nations pay back the money that we have loaned them. But, these too are unrealistic expectations. The United States itself is heavily in debt and a lot of loans we have made to the third world probably will never be paid back. The solution will be one for your generation to provide and it may not be an easy one. Can you imagine the Staples Washington Monument, or the Lincoln Memorial sold to Sony? We are going to need some sort of solution like this to pay what we have promised ourselves. That or maybe we can try and sell parts of Alaska back to Russia, hopefully those that don’t have any gold or oil in them anymore. The probably result of the problem will be one of delaying it until the entire system collapses. Many people want us to try and solve the problem of tomorrow’s debt today, but since it is tomorrow’s problem few people really care. This will continue until tomorrow finally comes and the problem of social security becomes one that your generation has to solve. Will the US be forced to devaluate its currency, to drastically change social security, or to just give up on the entire system? Your professor wants you to start thinking about this problem because just like credit card interest the longer you take so solve the problem the bigger it will become.
  • Social security was designed by President Roosvelt in the 1930's as a means to take older Americans who co no longer work, and give them some money to take care of themselves being that at that time items such as 401K's and pensions were not readily available. Life expectancies increasing was also a factor in starting the program. What I see as wrong with the program is that now the free market has come up with a system where many people can save for their retirement. I have a co-worker, for example, who probably will be getting her own pension of $40,000 a year, on top of her husband getting one probably in the $100,000 ballpark, and yet she insists the government better not touch the $1,000 she'll be collecting in social security. We need means testing. If you don't need social security, you shouldn't get it. While it is a nice idea to have individual savings accounts, I think the people who could do that are already doing that. With means testing, we can get through the next thirty years where the baby boomers will be collecting a large amount of social security, but by 2035, when most of them are deceased, we should be on a more level footing.
  • It's existence. Social Security is an oxymoron, as most people on it can't afford to be social and have no security. On a personal level, I also believe that it further erodes the family. Let me be absolutely mean right now. Let's abolish it. Apart from anger, what will be one response from people? They will have to look to the family to help, perhaps even those on it needing to move in with an adult child, and if that adult child has their own children, that puts three generations of family under one roof, which might seem too old fashioned to some, but in reality strengthens the entire family bond. After all, the President's own children benefit from a Grandmother in the residence (and while I am no fan of the President, I DEEPLY admire that his mother-in-law takes a child care roll for them; the kids only benefit), why should it be bad for the rest of society? I know that you can't abolish Social Security entirely. However, it is not a bad way to start a genuine conversation on the issue and by being so far extreme, I have only to compromise to get what I would want in the end anyhow; stronger families.
  • They way they tax U. The payroll tax only goes up so far,after that it remains flat,but the more wealthy still get a somewhat bigger check each month anyways.Also the government taking money out of the fund just to buy weapons and other liabilities as well.Now with the Baby Boom starting to retire,there's far more people who's getting the retirement account than there are workers.A few ways around the problem.U can increase taxes or at least reform how it's financed.Increase the retirement age to either 67 or even 70 say.Bring in more workers from other nations or just somehow increase the productivity per worker hour.I happen to find all the above solutions except the increasing productivity part politically unrealistic in today's political envionment.
  • Social security is a pyramid scheme. It can only pay out as much as it takes in. Therefore, it needs more people paying into the system to meet the monthly payout promise that has been made. Since social security started running a surplus in the early 1980s, Congress has been spending the money while claiming it is in a "trust fund." The "trust fund" is a collection of IOUs. In order to redeem these IOUs, Congress will have to raise the money from general revenue which means raising income taxes. Just to put things in prospective, pyramid schemes are illegal for private citizens to operate. Only the government is allowed to steal money in this manner. Solving the crisis means immediately raising the minimum retirement age to 71 while raising the rate to about 8%. Another fairy tale regarding social security is that the employee pays half and the employer pays half. Anyone who has taken Accounting 101 understands that in business, there is a concept of the cost a company is willing to pay for an employee. If all they can pay an employee is $50,000.00 annually, they must subtract the cost of taxes; to include social security, unemployment insurance, workmen's compensation, etc... Thus, raising the FICA rate will do nothing more than reduce take home pay since companies do not have a magic fund of cash they can dip into and pay the increased rate. The best way to fix social security is to eliminate it. Some projections are that people who begin to collect benefits in 15 years or so will get $0.70 on the $1.00 in benefits. Not a very good return on investment. All social security is doing is creating a huge debt that will be put on the backs of future generations. That is not fair which is why I support eliminating the program, even though I've been paying into it for 38 years (since I was 14 years old).
  • The Social Security system was begun to assure that older citizens in this country could afford to live decently in their twilight years after retirement. It also was to protect workers who were injured and could not continue to work. The fund was to grow because there were more workers paying into it than people drawing funds from it. The 2.3% (the original amount contributed, I think) supplemented by an additional like amount from employers that was contributed to the fund would have kept the fund solvent forever, particualrly if managed properly, but the money never went into the fund. In stead Congress put all the money into the general fund for our country and then overspent that until our current national debt is trillions and rising. This deficit grew while the rate of payments into the fund was constantly rising too. The 'fund' will be bankrupt in 'whenever', because in whatever year that turns out to be there will not be enough money collected that particular year to pay for expenditures for that year. This is one more lesson in how to be hood winked by our governement. Solve something that was caused by the idiotic actions of hundreds of politicians? You must be joking! Given absolute power I would place all funds collected into an account and invest it conservatively in the stock market with proper oversights. I'd also demand that the Federal Government pay back over about a decade all the funds misappropriated from Social Security contributuions and deposit that in the same fund. Fine, no problem with SSA, however, the government would now be bankrupt. The shame is that the first 15% of anything you earn now goes into this fund. You pay the first 7%+ and then your employer kicks in the same amount. So, that is almost 15% because employers look at the total cost for a worker per hour or some period of time and he could pay you what he is contributing to SSA for you. In the end it is just another tax called a rabbit. Now Congress must pull that rabbit out of a hat (or a Black Hole).
  • It is run by the government. That is all the answer necessary. I would solve it the same way I would solve most government programs. Get rid of the entire system. I every American put HALF of what the "contribute" to social security in a jar, they would be better of than they are under ANY government run system. Those who believe the system was designed to provide for retirement are WRONG. The system was designed to provide for those that outlived they PERSONAL savings for retirement. When the system started, the 'retirement' age was 2 year OLDER than the life expectancy. The majority of people were expected to DIE before the were eligible to collect anything.
  • It was Designed at a Time when the Population was Lower, and Lived a Shorter Lifespan. Medical Technology has allowed People to Live MUCH Longer than Before. Longer Life means more SS Checks drawn. Post-WW2 Baby Boomers not only Increased the Population, but Have HAD Children, who are Having Children. This is More than was Planned for when the SS was Designed. Government has Borrowed Money from the Fund, and only Recently moved to Replace it. Anyone who knows Interest and Investments knows the Loss will not Catch Up. Particularly, since the Payouts outweigh the Income. Much more Money has to be Input to Offset the Expenses....VERY Basic Economics. The PROBLEM: Who Pays and Where From? My Guess....it seems like SOMEONE is Spending a Fortune Overseas(not Counting the Windfalls Here).
  • People that need it can't get it and are given the run around unless it is proven that you are insane, a drug addict or alcoholic. Your government keeps spending on things not related to social security and never puts it back with interest! F.I.C.A taxes are taken from your check every payday...so much for returns on anything they take. People earning over $200,000 should not have to pay into it and should be able to take care of themselves without obtaining ANY social security benenfits. They can afford to invest their money for themselves when they become retirement age, disabled or elderly.
  • About the only answer left is Privatizing it and making it the persons responsibility. When Social security was instituted people didn't live much past 65. Now that the avg lifespan of Americans has increased substantially. There are to many people in the system to pay for it and as mentioned before with the baby boomer retirement coming there will only be more people getting social security checks. The American taxpayers cannot handle it all without huge tax increases or making Americans responsible for their own retirement.
  • I am not okay with it! I am P-I-S-S-E-D as H-E-L-L! I am writting a letter to Congress and I suggest that every American citizen do the same. And this is what I am going to write: To the Elite in Washington D.C. Republican's/Democrat's I am a father of two kids. I have a $30,000 job that just barely gets me by. Two years ago I went through a divorce that should never had happen. Why? Because it was over money and the economy. Could not afford the home, the car, the cost of living was killing us. My ex wife worked two jobs and I worked one. Together we made $65,000 a year. But with three kids (one was her's and two ours) it didn't go far. We faught and faught over paying the bills and having money to go on. We couldn't take it! There was no one there to bail us out! And now it seems that it is starting all over again. I have a car payment, insurance, child support payments, christmas gifts, birthday gifts, rent, and the enconomy is still bad! I barely get by. I ask you now as an lower income American, Who's going to bail me out? Who is going to pay my car loan? Who is going to pay my child support? Who is going to pay my credit card that is almost maxed out because I can't afford gas or food? Who is going to take care of my children? Yet you fat cats sit in those plush chairs and skeem on ways to get elected or re-elected and to make the other party look bad! And you have the gall to bail out rich businesses that even a common American knows is going under and can't be saved! But you turn a nose up on me. A common American with a real dream. A dream to serve his country, to have pride for it's country and it's leaders! I say hog wash! I say it's time to impeach the lot of you for crimes against the people of these United States of America, better yet I think we need to take another look at the Declaration of Independance: The unanimous Declaration of the thirteen united States of America When in the Course of human events, it becomes necessary for one people to dissolve the political bands which have connected them with another, and to assume among the powers of the earth, the separate and equal station to which the Laws of Nature and of Nature's God entitle them, a decent respect to the opinions of mankind requires that they should declare the causes which impel them to the separation. We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty and the pursuit of Happiness. That to secure these rights, Governments are instituted among Men, deriving their just Powers from the consent of the governed, — That whenever any Form of Government becomes destructive of these ends, it is the Right of the People to alter or to abolish it, and to institute new Government, laying its foundation on such principles and organizing its powers in such form, as to them shall seem most likely to effect their Safety and Happiness. Prudence, indeed, will dictate that Governments long established should not be changed for light and transient causes; and accordingly all experience hath shewn, that mankind are more disposed to suffer, while evils are sufferable, than to right themselves by abolishing the forms to which they are accustomed. But when a long train of abuses and usurpations, pursuing invariably the same Object evinces a design to reduce them under absolute Despotism, it is their right, it is their duty, to throw off such Government, and to provide new guards for their future security — Such has been the patient sufferance of these Colonies; and such is now the necessity which constrains them to alter their former Systems of Government. — The history of the present King of Great Britain is a history of repeated injuries and usurpations, all having in direct object the establishment of an absolute Tyranny over these States. To prove this, let facts be submitted to a candid world. What have you people become to let greed to fill your pockets while your fellow American's do without? You send our money to other countries when we could use it here, you bail out your buddies who grease your palms when you should be greasing your fellow American's palms. You take our money and use it for crap we wouldn't even approve of when you should be trying to save our money for the important issues. I have lost my pride for you, for your parties, and for your causes, but never for my country! God Bless America!
  • Get rich quick schemes in the capitalist business world, (buyouts, IPOs, conglomerates, acquisitions, mergers, and the stock market), do not actually work. Remaining solvent does not actually exist within false economics capitalism. Profit existing in the capitalist business world, or millionaires existing within capitalism, is pathological deception committed by the 21 organizations spying on the population with plain clothes agents, (with covert fake names and fake backgrounds). Actual economics is the persons that are paying the business loans of companies voting at work in order to control the property they are paying for. Capitalism is the psychology of imaginary parents, false economics, and the criminal deception of employees that are paying the bills (including the stocks and bonds, or shares) of companies. Anti-Democracy Republicanism is the psychology of imaginary parents, and false government.
  • I am not okay with govt bailiouts. In the end, they make things worse.It was the stupid govt that insisted that more people should own homes and that the banks are discriminatory if they don't lend money to those who don't qualify. Many congressmen from both parties will benefit from the bailout. I wish there would never be bailouts.
  • we are needed to be out there struggling for the dollars to provide the base or source of money, for those who have the authority to do with it as they please. I have known this since I was a kid. That's what most of us are, ya know, the real providers for the government's BS.
  • On very rare occasions, when the alternative would be completely intolerable, the government must do something to spare us the repercussions.
  • the only place socialism belongs in our society in health care
  • That is not Socialism . I beg to differ.
  • Strange, isn't it, how Corporate Welfare, seems to be OK.
  • We are not okay with it... but we don't get to make choices in this "democracy" of ours
  • We aren't
  • Well, It was a combination of things. Things here in the US. the banks got de-regulated during Bush's presidency. The banks were able to do whatever they wanted and they took advantage of the system. They started making high risk bets giving loans out to people they knew couldn't pay them back. Ultimately this lead to the housing bubbleburst. Homes started foreclosing, people stopped spending money, businesses started shutting down and unemployment rose. We were also in 2 wars. Banks that were doing corrupt businesses were bailed out and got a slap on the wrists as opposed to going to jail because these institutions were considered to big to fail. Tarp was taken out during Bush's presidency. Even the the American tax payers bailed them out they ended up costing more money. Then there's the whole Libor thing where 20 of the most powerful banking systems in the western world Us & European were setting their own rates and basically lying about how much money they borrowed from each other. We were just dealing with the housing bubble burst in the US it was happening all over the world. The whole world was falling into a recession because of these banks. Greece went bankrupt because JP Morgan did their books wrong. On top of that, The US DOLLAR is the Universal world currency for trade. All the other countries have to convert their money to dollars to do trade with other countries but the US just prints out money. We back everyones money. After the recession hit, since we weren't doing well the other countries weren't either. Places like India took half their money off the dollar and onto Gold. This start happening around the world weakening the dollar. With the election of Obama and the GOP getting stronger, people like Mitch McConnell saying is top objective was to make Obama a one term president Washington wasn't cooperating more than usual. Our credit got down-graded by Standard &Poor who passed a bunch of companies that were in really bad shape, they actually made a mathematical error but after that was discovered they said the downgrade was due to Washington's inability to cooperating. China's been riding off that. They've been trying to rally other countries like Russia, Korea, Japan to get off the dollar. They said its unfair to place their economical health on America's failing economy because of their dysfunctional government. China's efforts to de-value the dollar has been taking a toll on us. Russia & China stopped using the dollar to trade. If we stop being the world's universal currency prices here in America can go up as much as 25%. China has also been helping North Korea and places in the Middle East. I think its obvious that China is trying to weaken America using other techniques that isn't war.
  • "Obama and Congress settled on a nearly $800 billion plan that aims to spend more on the crisis at hand than the government has spent waging the Iraq war for six years." Only Obama.....could cause....the complete failure...of the most advanced economy on earth. Over the past week....we've seen the stock market....close to absolute failure. And Obama continuing the charade of instability. Whats your opinion?
  • The past week...you've seen the stock market...on the brink of absolute collapse. Obama's socialist, anti-american, policies are going to destroy our economy. Lets make it a little story...you little..pussy dems...can understand. Our economy is a car. Our car was driving at 40mph. Under Bush we started speeding up.... We got up to 120mph... We got tired of speeding...40mph... Obama was elected (oh hell he's gonna throw it in reverse)...30mph. Obama wants to throw our car in reverse while we drive at 30mph. Complete economic collapse. Through complete instability....and a President who understands zero about this economy.
  • The past week...you've seen the stock market...on the brink of absolute collapse. Obama's socialist, anti-american, policies are going to destroy our economy. Lets make it a little story...you little..pussy dems...can understand. Our economy is a car. Our car was driving at 40mph. Under Bush we started speeding up.... We got up to 120mph... We got tired of speeding...40mph... Obama was elected (oh hell he's gonna throw it in reverse)...30mph. Obama wants to throw our car in reverse while we drive at 30mph. Complete economic collapse. Through complete instability....and a President who understands zero about this economy.
  • Deficit spending is what got us in this problem. The feds did it thinking they could pay off the debts of today with the taxes of tomorrow. Not content with messing up the federal economy they insisted Fannie and Freddie and banks give loans to people who who could not afford them. The people assumed the rapidly increasing value of the homes was going to allow them to sell in the future and make money. They assumed they would get pay increases in the future to cover their adjustable rate mortgages. Then the housing bubble collapsed and the people ended up owing more than they could afford and more than the home was worth. So they walked away. Deficit spending and credit excess is what got us in this mess. Obama is just doing more of the same. Where Bush blew a TRILLION a year, Obama blew a TRILLION in one month. It is not going to work. We are headed for a recession that will be worse than the Great Depression. The big difference this time is our money will be worthless. We will be going to a barter economy. Gold and silver may be sought by some, but for the rest of us, food, gasoline, water, ammo and things we need for daily living will be the items of trade. Obama is going to go down as HOOVER II because he had a chance to fix things and he started out right from the start doing business as usual in Washington DC. SPEND SPEND SPEND....
  • 1. You have no clue what socialism really is. 2. You whine about spending after the last 8 years of the repukes spending spree, take the blinders off. 3. Blaming the economy on Obama just makes you look like a troll, lol. 4. The answer to your question is no. Not only are we going to spend 800 billion, we already spent 350 billion that BUSH wasted and we don't even know where it went. The Federal Reserve is going to spend almost a trillion to help and all and all we will end up all together spending 3 to 5 trillion to fix what the repukes SCREWED UP with DEREGULATIONs in the last 8 years !! Go learn some economics and political policies before spouting out all this non factual rhetoric !!
  • First of all, the Iraq War has cost $600 billion, and long term costs is expected to be over $2 trillion when accounting for Afghanistan as well. Now, the stimulus package is being spent at HOME. Infrastructure, schools, bridges, tax breaks, etc. is for the population here in the States. Heaven forbid we have a president who concentrates on domestic issues. That said, I agree with you that on foreign policy, Obama will be no different than Bush.
  • "Only Obama.....could cause....the complete failure...of the most advanced economy on earth...." Actually, it collapsed after 8 years of the Bush administration. Obama has got to try to pick up the pieces. As for the cost/war - at least economic recover won't cost tens of thousands of lives.
  • that's what happens whilst a rustic enables it relatively is politicians to stay in place of work for all times and are basically irritating approximately re-election. no longer basically did we spend this quantity, our remarkable gutless leaders did no longer ask for a dime in return. the three trillion is borrowed or revealed money, so it does no longer have been a threat to spend it at living house.
  • I guess by now you saw that JPMorgan Chase bought WaMu and nothing will happen to your accounts, just the name on the checks and the door will change. The accounts at WaMu fell under FDIC insurance, but no government money will be spent, since Chase bought the company. What's happening nationally is what happened to WaMu: banks large and small gave mortgages to people with shaky ("sub-prime") credit histories. The sale price of houses has started declining instead of continuing to rise, and at the same time the people with mortgages they probably should not have are having financial trouble and can't make mortgage payments. They can't refinance the mortgage to get lower payments because the house is not worth the amount they owe. Say a family got a mortgage for $300,000 and they now owe $280,000. The house nowadays is valued at $250,000 and no bank will give another mortgage for more than the house is worth. So the family defaults (stops paying) on the mortgage and the bank is holding a debt that will not be paid. Sometimes the house is put up for auction and still doesn't bring $280,000 (to pay the debt the bank is holding), so the bank has to write off the loan. That lowers the bank's assets and future income -- they won't be receiving mortgage payments on that house. Washington Mutual had a lot of mortgages on their books like that and without the stream of payments from mortgages, they didn't have money to lend out to other people and businesses for other projects. Worse, they were in danger of not having enough money to pay you the amount in a savings account if you needed to withdraw it. This last situation is why the FDIC was about to take it over when Chase bought it. I hope this helps.
  • Why? Have you even peeked at the recovery.gov website or the whitehouse.gov one? And what about the politifact.com's Obameter that shows he has kept many of his more than 400 campaign promises? I personally think that the JibJab spoof of all that a new President Obama came into office to fix is an UNDERSTATEMENT for what he has been able to achieve so far. The answer to your seemingly under-researched query is no...the 2012 campaign slogan(s) will not include the word "can't" at all. We've NEVER had a president get as much done in less than two years as did President Obama. In fact, Associated Press ran an article about a month ago that said House Speaker Nancy Pelosi presided over the "most productive Congress in more than 50 years!" DIRECT student loans, financial system reforms, consumer-protecting insurance reforms, the Credit CARD Act of 2009 that will save consumers millions in fees over time, the April 1, 2009 TAX CUT for 95% of working Americans, the Jobs bill now law of the land that gives capital gains tax cuts to small businesses and allows them a three-month waiver for Social Security tax deductions if they hire new workers, the ten-day Asian trip that netted 54,000 new-American-jobs trade deal with India's Manmohan Singh on the very first day and convinced others to be more open to our earth friendly American exports that are part of President Obama's green-energy initiative (see recovery.gov), the New START Nuclear Nonproliferation Treaty, and so on... America has a real chance to be NUMBER ONE in manufacturing jobs (lost under the GOP) for the alternative energy resources that are now being manufactured in at least 40 states, thanks in part to President Obama's "stimulus" (Recovery and Reinvestment Act of 2009")! Instead of being part of the problem, you Republicans, why not JUMP ON THE BANDWAGON and maybe INVEST in some of these new technologies! Or buy some of the GM stock that is doing so well on Wall Street now that the President's loan is being REPAID and GM is once again successful (they got a contract with the privatized---thanks to President Obama---NASA moon shuttle projects), which came after President Obama CUT GOVERNMENT SPENDING by refusing to fund any more moon shuttle missions and suggested to NASA that they privatize. The deficit was also reduced by 8% (Reuters and Washington Post articles around June 2009; MSNBC; CNN; Bloomberg) by President Obama and the Democrats after they "inspired" 14 of Bush's bailed out (welfare) banks to PAY US BACK and to do so WITH INTEREST by passing legislation to LIMIT the salaries of these welfare bankers to a "mere" $500,000 a year and bonuses only in preferred shares of stock while they were on the dole...lol. My own state's Senator Claire McCaskill (former State Auditor) thought that one up, and it WORKED, because by December of 2009 we got $181 BILLION in paybacks (with even more pending) that went toward the PAYDOWN of our GOP-caused DEFICIT! Not a bad 22 months, I'd say. I'm looking forward to the next six years under such amazing leadership, if the right-wing House Republicans will get off their political nutjob high horse and join the progress. If they don't, the voters will OUST them in 2012.
  • Prove the lies if you'll. The incontrovertible fact that we're speaking approximately race on this means and the measure that ordinary Americans of all colours are targeting the election method the way in which that we're is a large difference correct there. (Directed toward a few of my fellow Yahoo answerer's.) I can not feel humans might consider a person, regardless that black, who used to be raised through his white loved ones and used to be extra submerged in white tradition than black and has himself in no way mentioned or performed a racist act can also be regarded a racist toward whites. That is killing my feel of common sense.
  • He should say that he couldn't because the people didn't elect enough real Democrats to get what he wanted to accomplish. If things were as you say, then you should be glad of what he did not do.
  • Sure, but that would be truth and politicians have no idea what to do with that. NOW is the time to remind the politicians that they are not our masters, they are our servants. We voted the Democrats out, we can vote out the Republicans too. We _will_ elect non-politicians if the experienced politicos continue in their refusal to listen to us. We need to have a "REMOVE INCUMBENT" option on the ballot.
  • I can send him a Text message " I told u so!" I told everyone he was going to be the black Jimmy Carter, turns out he's even worst than Carter.
  • hahaha definitely
  • He should change it to "Get the hell out of my way you god damed idiot Republicans".
  • Lol.. or maybe " thought we could , but I was wrong"
  • I would change it to "GUESS WE'RE CANNED."
  • Hi, one better! "No we can't"
  • I never watch Bush on TV any more; I just don't trust his truthfulness or his judgment. However, my parents used to talk to me about what they experienced during the Great Depression of the 1930s, and I think it's crazy to "take our chances with a depression." Some leading Democrats as well as some leading Republicans are saying that the effects of a big failure in the financial markets could be disastrous -- not just for the fat cat bankers and financial speculators who caused this problem, but for everyone in our society and around the world who depends on credit for daily activities. The real estate industry, the ability of individuals to take out mortgages so that houses can be bought and sold, the ability of small business owners to get loans to cover the expense of expanding their operations -- these and individual consumers' ability to buy things on credit all could be hurt really badly if the banking sector collapses. I'm a democratic socialist, and I think we need to develop a completely different economic model in this country, one that will funnel more money to people in the middle class and even in the underclass while funneling a lot less money to the super rich, including the super-rich bankers. I think the "laissez-faire" free-market model that Bush and even Clinton before him have followed, regarding the financial markets, has channeled way too much of the country's income to a tiny economic elite, and I think that alone has created some bad economic imbalances that helped to bring on this financial crisis. But when you're in a car speeding down a dangerous piece of highway, even if the car is being driven by a madman, you don't just jam on the brakes and you don't just turn off the key in the ignition. Similarly, I don't think we want to risk the whole economy going into a 1930s-style depression, just to take control away from the economic and political elites in Washington and in the banking industry. Instead, let's support those Democrats -- and I think there are a few Republicans too - who are insisting that middle-class mortgage holders also get some breaks from this bailout, and that there be strong oversight by the Congress of how the Treasury Department manages the thing. If the American taxpayer is going to pay for bailing out the banks, also, it's worth asking whether the American government should maybe get some ownership and control over some of those banks. If we're going to have "socialism," it shouldn't be just socialism for the benefit of the rich; it should be government ownership and control for the benefit of everybody. But let's not just decide to let the economy crash in order to hurt Bush or the GOP or the Democrats or the banking industry. Too many ordinary Americans will get hurt, too.
  • Bush cries wolf again and again. How many bailouts will it take to fix this? I have the feeling that we are trying to avoid the inevitable collapse of our economic system. It's Karmic. Half the American people put their faith in the wrong people. The rest will have to suffer with the consequences. People will have to learn to live within their means. The people who have learned this already will be at the top of the heap.
  • Obama should do some apologizing. http://reason.com/archives/2011/05/24/ge...No sooner had GM made its announcement than Washington Post columnist E.J. Dionne dashed off a stinging rebuke to naysayers (like me) who had dared doubt the wisdom of the bailout. Likewise, the auto czar Ron Bloom credited the turnaround to the president’s “tough love” approach. No doubt, $3.2 billion is a big number. But an even bigger number is $60 billion. That’s what this administration and the last one together sank into GM (not to mention another $20 billion or so they dumped into Chrysler). When President Obama gave GM this money, he insisted that it was not a handout but an “investment” that would cost taxpayers “not a dime.” But if there was ever any doubt that this wasn’t going to happen, this earning report dispels it. For starters, included in the $3.2 billion figure is the net $1.5 billion that the company generated from the one-time sale of Delphi, its auto parts supplier, and Ally Financial, its financial arm. Subtract that, and its performance looks much less impressive, especially compared to its rival Ford that really didn’t receive a dime from taxpayers yet made $2.6 billion last quarter—or nearly a billion more than GM. But cold, hard cash is not the only help that GM got. Usually when companies declare bankruptcy, their tax liabilities increase since they have no more losses to write off. But GM got Uncle Sam’s special bankruptcy package that allows it write off up to $45 billion of old losses going forward. That puts its total bailout at up to $75 billion*. Even that’s not all. The Treasury gave GM $10 billion of the $60 billion as a loan; the rest was through the purchase of equity. (It has more or less paid back the loan.) The equity means two things: One, GM has zero interest payments, something that gives it a distinct advantage over competitors. Ford, by contrast, had to pay $251 million in debt-service costs. Despite this, GM’s real per vehicle margin was over $1,000 less than Ford’s, thanks to the heavy incentives it was forced to give buyers. (If the administration can call this success, can it please call me the next American Idol?) And two, taxpayers have no guaranteed return as they would have with a loan....
  • particular. Is the republican celebration nevertheless mendacity about Bain? Newt Gingrich "The Bain style is to flow in at an incredibly low value, borrow an large volume of money, pay Bain an large volume of money and go away. i am going to provide help to settle on if it truly is fairly solid capitalism. i imagine it truly is exploitation." Rick Perry "there is something inherently incorrect at the same time as getting wealthy off failure and sticking it to somebody else is the way you do your organisation. I ensue to imagine that it fairly is indefensible."
  • "0bama is aware that sometimes companies just can't be saved,Right?" Can't be saved???? GM just regained the spot as top automaker in the World. They also posted a PROFIT last quarter for the first time in 3 years. That sounds pretty much like "saved" to me. Thank you President Obama. And, I'm sure the 3 million people who's JOBS you saved with GM thank you too.
  • Deep down BHO knows Romney is smarter than he is an bashes him to elevate himself very sad.
  • check the facts douchbag...he has less debt than any rep pres in modern history...stop watching fox news moron
  • get yer freakin' facts straight!
  • Just three examples: 1. Biden said McCain voted “the exact same way” as Obama to increase taxes on Americans earning just $42,000, but McCain DID NOT VOTE THAT WAY. 2. Biden falsely said McCain weakened regulation -- he actually called for more regulation on Fannie and Freddie. 3. When Joe Biden lied when he said that John McCain was “dead wrong on Iraq”, because Joe Biden shared the same vote to authorize the war and differed on the surge strategy where they John McCain has been proven right. This is also a man who admitted plagiarizing a law review article in college and lifting significant portions of speeches from Robert Kennedy and Hubert Humphrey. We need a change in Washington, not the same old moral corruption from our leaders.
  • There both liars but i think Biden said a lot of bold face fallacies WASHINGTON -- Facts went adrift on taxes, deregulation and more Thursday when Republican Sarah Palin and Democrat Joe Biden clashed in the vice presidential debate. Some examples: PALIN: Said of Democratic presidential candidate Barack Obama: "94 times he voted to increase taxes or not support a tax reduction." THE FACTS: The dubious count includes repetitive votes as well as votes to cut taxes for the middle class while raising them on the rich. An analysis by factcheck.org found that 23 of the votes were for measures that would have produced no tax increase at all, seven were in favor of measures that would have lowered taxes for many, 11 would have increased taxes on only those making more than $1 million a year. ------ BIDEN: Complained about "economic policies of the last eight years" that led to "excessive deregulation." THE FACTS: Biden voted for 1999 deregulation that liberal groups are blaming for part of the financial crisis. The law allowed Wall Street investment banks to create the kind of mortgage-related securities at the core of the problem now. The law was widely backed by Republicans as well as by Democratic President Clinton, who argues it has stopped the crisis today from being worse. ------ PALIN: "Two years ago, remember, it was John McCain who pushed so hard with the Fannie Mae and Freddie Mac reform measures. He sounded that warning bell." THE FACTS: Republican Sen. Chuck Hagel of Nebraska led an effort in 2005 to tighten regulation on the mortgage underwriters -- McCain joined as a co-sponsor a year later. The legislation was never taken up by the full Senate, then under Republican control. ------ BIDEN: Warned that Republican presidential candidate John McCain's $5,000 tax credit to help families buy health coverage "will go straight to the insurance company." THE FACTS: Of course it would, because it's meant to pay for insurance. That's like saying money for a car loan will go straight to the car dealer. ------ PALIN: "We cannot afford to lose against al-Qaida and the Shia extremists who are still there, still fighting us." THE FACTS: She appeared to confuse the two main Muslim sects in Iraq. Al-Qaida is solely made up of Sunni Muslim militants. Through the course of the war, U.S. forces fought ferocious opposition from both the Sunnis and the country's dominant Shiite sects. Now, both groups are largely maintaining a cease-fire with the U.S. A much-diminished al-Qaida, mainly foreign fighters, remains the primary threat. ------ BIDEN: Said McCain supports tax breaks for oil companies, and "wants to give them another $4 billion tax cut." THE FACTS: Biden is repeating a favorite saw of the Obama campaign, and it's misleading. McCain supports a cut in income taxes for all corporations, and doesn't single out any one industry for that benefit. ------ PALIN: Said the United States has reduced its troop level in Iraq to a number below where it was when the troop increase began in early 2007. THE FACTS: Not correct. The Pentagon says there are currently 152,000 U.S. troops in Iraq, about 17,000 more than there were before the 2007 military buildup began. ------ BIDEN: "As a matter of fact, John recently wrote an article in a major magazine saying that he wants to do for the health care industry -- deregulate it and let the free market move -- like he did for the banking industry." THE FACTS: Biden and Obama have been perpetuating this distortion of what McCain wrote in an article for the American Academy of Actuaries. McCain, laying out his health plan, only referred to deregulation when saying people should be allowed to buy health insurance across state lines. In that context, he wrote: "Opening up the health insurance market to more vigorous nationwide competition, as we have done over the last decade in banking, would provide more choices of innovative products less burdened by the worst excesses of state-based regulation." ------ PALIN: Said Alaska is "building a nearly $40 billion natural gas pipeline, which is North America's largest and most expensive infrastructure project ever to flow those sources of energy into hungry markets." THE FACTS: Not quite. Construction is at least six years away. So far the state has only awarded a license to Trans Canada Corp., that comes with $500 million in seed money in exchange for commitments toward a lengthy and costly process to getting a federal certificate. At an August news conference after the state Legislature approved the license, Palin said, "It's not a done deal." ------ PALIN: "Barack Obama even supported increasing taxes as late as last year for those families making only $42,000 a year." BIDEN: "The charge is absolutely not true. Barack Obama did not vote to raise taxes. The vote she's referring to, John McCain voted the exact same way." THE FACTS: The vote was on a nonbinding budget resolution
  • And what will Mccain change? Remember that it's not Biden or Palin who's running for VP. Palin should be taked more seriously because of Mccains age. But neither of the VP's are running for President. I think you don't want Obama to win, and you're just saying anything; even if it's uneducated.
  • Aaaaand? Sarah Palin said McCain is a hero of the middle class, and that he is going to give them tax breaks. Also, McCain has always been against deregulation. Whether he changed his mind on Freddie and Fannie doesn't overthrow years of his votes for smaller government.
  • You cite three examples with no sources. 1. Please cite this legislation for verification. 2. McCain may have "called for more regulation", but he voted time and time again to weaken regulations. 3. This is purely opinion. You can't "prove" the surge worked. You can't "prove" the war was/is right or wrong.
  • i think some of the problems today and in history could be avoided if people remembered that leaders are only human and can make mistakes like the rest of us. I know its usual to critisize our leaders for being human, but i don't think its very constuctive (its only a cathartic expidient for politicians). Rather it might be better to develop systems that cater for humanity rather than trying to dump all our responsibliites on a leader and expect them to be infallible. if millions follow our charismatic leaders blindly, the leaders mistakes will be amplified a millionfold. This is what happened many times in history. Do you want to keep repeating this vicious cycle?
  • Some facts adrift in vice presidential debate http://www.localnewsleader.com/olberlin/...By CALVIN WOODWARD, Associated Press Writer
  • We need everyday Americans in Washington, with term limits and a real passion for maintaining the Constitution and the traditions of our nation. We don't need fossils, really, from either party, and we don't need dynamic/personable/likable leaders either. I'd take an SOB with a plan and gumption over someone who was easy on the eyes. If we want something nice to look at, we should go to a garden, museum or roll over and kiss our significant others, and leave the 'pretty' out of politics.
  • Go fact check please. These "lies" can be disproven on any fact check site, just go to the homepage of Yahoo and click on the fact check Icon so that you see what you're posting is false. p.s. When George W. was fearmongering for the war in Iraq, he was acting on misinformation that was given to Congress to be true. Biden can disagree with his vote on the war if he was mislead into this by false info given by the C.I.A. I just love how the same talking points come up again and again with you guys. It makes it easier to call you out time and time again.
  • Hell no. Both Obama and Biden are complete idiots. Who would vote for a guy with no experience. no voting record, and no outstanding accomplishments. They say they care for the middle class when the actually just want to screw over the rich. Fact: the top 10% of America pays for 90% of our taxes. What's up with that. Honestly, I know nothing about the guy so why vote for him. On the other hand, you have a true American hero who has made his share of sacrifices. He has a TON of experience. He HAS crossed party lines. Also, he has made some serious accomplishments in his career. Most importantly, you can trust the guy. His viewpoints havn't changed much over the years. I don't believe one thing that comes out of Obama's mouth. I will end this with a thought for everyone on Answers. Why would you want to vote for a guy who would increase spending, raise taxes, put us in more debt (currently 7 trillion dollars), and screw over the country. Anyone with half a brain should vote for John McCain - The Maverick. Plain and simple.
  • Where are your sources? Factscheck.org showed Palin with 7 and Biden with 5. So where did you get your figures from? Are you another false propaganda agent, bringing forth false witness against your neighbor?
  • he is Ivey league educated. both Harvard and Columbia University. and he can connect with the middle class. he just paid off all his student loans 1 1/2 ago. unlike Mccain he doesn't own 7houses and 13cars. and no no!! he is NOT MUSLIM!! he's always been a christian. he dad,whos not dead,was a muslim but became aethist. and yes obama is a us citizen. and bill ayers? obama was 8years old when this guy was blowing things up. geeezzz!! give obama the credit he deserves!!!!!
  • I'd say the biggest reason has to be fear. People who fear a black person being president have put wrong information out there in such a way as to capitalize on the fears of conservative people who really just want to be able to live their lives as the always have. Unfortunately, the American public, as a group, tend to believe whatever it is they heard first, no matter how dumb or outlandish, or even how completely it's been disproved! Yeah, his dad was a Muslim (which isn't a bad thing to be, by the way), but he wasn't even raised by his dad, he was raised in America by Christians. His minister, Dr. Wright, is actually a pretty brilliant man, who writes text books used in major universities. Most of my seminary books so far have been written by him, at least in part. He was a friend of my grandfather, and I promise you, my grandfather would never have dealt with anyone like they are trying to portray him in the media. He was not preaching hate, he was saying stuff about the government that a lot of us have said: they do wrong stuff and they do it undercover, and 9/11 DID happen as a result of shady stuff our government did that we didn't know about. America IS a racist country, just look at how Senator Obama has been maligned and what it was they used when they went after him! Look at who it is that's against him and their "reasons" for it! Look at how quickly someone even possibly being a "Muslim" makes them a pariah! So, while 9/11 was a horrible tradgedy, one that needs to be answered, it was the result of our government's wrong doing. Dr. Wright saying what he did wasn't antiamerican. True partriots always question when they see wrong being done. George Washington did, Thomas Jefferson did, all out founding fathers did, but when they spoke out and condemned their government at that time, they were patriots, what's the difference? Oh yeah, they actually killed folks and they were the ones who won (so they wrote the history books)! Questioning wrong when you see it and demanding an accounting is the very essence of patriotism, at least in this country it is, or it's supposed to be. Also, anyone who knows anything at all about the Civil Rights Movement or the history of the Black Church, knows that our ministers have always been cataysts and voices for change! It's the JOB of our ministers to give voice to our issues, even as they help us to address them. Dr. King condemned violent acts perpetrated by our government and he did it from his pulpit. He's acknowleged everywhere as a wise man whose actions were necessary. What's the difference? He was more diplomatic and no one in his church was running for office.
  • Your situation my expensive is that you're politically smarter than so much children your age and have got to endure their lack of knowledge. Always don't forget, concentrate to all sides of a political argument. Do NOT come to a decision the argument founded to your feelings or emotions. Think it via the entire method and use your head to come to a decision. If you do that, I warranty you are going to by no means be a Democrat. Can you spot the entire HATE closer to you by way of the Obama worshipers in right here?.....HATE is an emotion.
  • Actually it has far less to do with racism than it has to do with the fact the right are out of control now that the old man is losing so badly which, of course, is his own fault for choosing what may be the dumbest most illiterate and dangerous woman in political history, the lipsticked beast form Alaska. Republicans are running away from their party in droves to escape any possibility of this moron to even set one caribou dung covered foot in the White House.
  • Because many people let their emotions rule them instead of their head. Logic vanishes when people feel threatened and despite the fact that Obama is well educated, is young, personable, and intelligent, some people are still reacting to the racist card. It shouldn't be so in this day and age, but unfortunately, it is.
  • They spead all these misconceptions because they cannot stand up and shout "the N word" at the top of their lungs the way they would like to do. They cannot say "hes black so don't vote for him" For many that is the reason they will not vote for him but that is racist so they come up with this nonsense to disguise why they really don't want to vote for him.
  • I'm one of the leftist bloggers. The "misconceptions" are promoted by the McCain campaign in an effort to demonize Obama and make him seem to be a scary foreigner people won't vote for, and to mobilize any latent racism and xenophobic tendencies people have. I think it's highly irresponsible of the McCain campaign to do this. I am waiting with sorrowed resignation to hear, sometime in the next week, that a non-white person wearing an Obama t-shirt was assaulted by a group of individuals whose vehicles and t-shirts indicated they were supporting the Republican ticket. That's where this sort of hate speech inevitably winds up. Unfortunately.
  • He still stands for the democratic platform which includes being pro-abortion and anti-gun, so he is out in my book And FYI, I don't give a crap what skin tone he has. If Condi. Rice was running I would vote for her in a heart beat!!
  • I honestly think the reason people have issues with him (at least why so MANY people have issues with him) is because he's black. I'm not one to pull the race card, but in this case it's just overkill. He is the best presidential candidate we've had in many years, possibly EVER, yet even so many democrats keep talking about what a bad candidate he is! He cares about people, wants to help the middle class, and is all about women's rights and the rights of the underdog. Why else would so many people be telling (and believing) out-and-out lies about him? It's awesome that you're working on his campaign. Keep up the good work!
  • Do U know this first hand or R U quoting his campaign literature - & what of the racist church he belonged to all those years that he only dis-associated with for political reasons, not to mention his adult associations & support of several known & convicted international terrorists .. I could go on & on too !
  • I'd say they feel threatened in some way. I'm not. Go Obama!!
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