Reader comments: Utahns protest $700 billion bailout plan
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Bob G | 4:57 a.m. Oct. 4, 2008
The way the Bush Cartel is looking at it is to keep the consumers fed with credit. Our financial industry is operating on deficit operating pracitcies. That is they shouldn't have to have any capital assets to stay in business. Borrowing money to meet a payroll only means that a business is not managing its money well and should not be in business. This is the means by which the financial industry is working towards a cashless society. Well we don't have any cash and you see where it has gotten us. We and government can't even pay the debts we have. The big powers are hoping to keep consumers in debt and living on expensive credit, I say get rid of credit. The american people should stop giving their income to investment retirements and put it towards assets for retirement. Investment retirement is gambling and those getting it are gambling with it with no regulaltions or controls and no guarantees on returns. Many baby boomers retireing are finding out how little they are getting in the expected retrun on their big gamble. Our retirement money is their cash cow, end it now. There are better ways to save.
Stimulate ME | 5:48 a.m. Oct. 4, 2008
With 108 million households in America, if you gave the 700 billion to US every household get $6500. That would stimulate the economy.
Why do we give it to the guys that got us in trouble in the first place by ripping off their clients? Oh yea, because they all gave money to the politicians!
Why do we give it to the guys that got us in trouble in the first place by ripping off their clients? Oh yea, because they all gave money to the politicians!
anon | 6:41 a.m. Oct. 4, 2008
Shouldn't we have a tax exemption for those who have not gone in debt over their heads, who have paid their loans in a timely manner? Just exempt us from paying any taxes for this bailout.
Comments continue below
independant | 8:56 a.m. Oct. 4, 2008
"The $700 billion giveaway includes $100 billion in tax breaks for corporations, yet there is no relief for America's working people who are facing foreclosure. There is no relief for our citizens that don't have health care, and no relief for our jobless or any breaks for education," Windley said. "This is unacceptable."
I am assuming these people are voting for Obama, and he voted for this.....hmmmmm... We wouldn't have foreclosures if poor and middle class people weren't greedy themselves. Take a look in the mirror, take a look at your income and do something about it. Find a job with benefits. What's unacceptable is the greed on Wall Street and the big corporations, and yes, I agree with Obama, whoever created this mess will pay the price.
Dont blame Bush for this. Youre idiots if you do. It passed the senate, the house, etc. That means both sides are for it. Read how its going to fix the market to market trading, etc. Read!!!!!!!! about it.
I am assuming these people are voting for Obama, and he voted for this.....hmmmmm... We wouldn't have foreclosures if poor and middle class people weren't greedy themselves. Take a look in the mirror, take a look at your income and do something about it. Find a job with benefits. What's unacceptable is the greed on Wall Street and the big corporations, and yes, I agree with Obama, whoever created this mess will pay the price.
Dont blame Bush for this. Youre idiots if you do. It passed the senate, the house, etc. That means both sides are for it. Read how its going to fix the market to market trading, etc. Read!!!!!!!! about it.
Not Good | 11:39 a.m. Oct. 4, 2008
I work on the side as a Realtor. I say on the side because I'm not willing to be devious to make me a full time Realtor.
Here is the latest that people are now doing. I have been approached to assist in these sales and I refused. So I'll remain an On the side Realtor for a while.
A person decides they don't want to pay for their $300,000 home because the payments are $2,000 per month. So they stop making payment, hire a Realtor to negotiate a short sale with the banks then they sell the home to their friend for $200,000. Then they pay a credit repair guy to get their credit score back up in the 700's and they repurchase their home back from their friend for $200,000. A for sale sign never goes in the yard and it never lists on the MLS. The original people never move out of the home.
If the banks don't put a stop to short sales then they will VERY SOON be back into asking for another bailout. To cover all the short sales.
Why is this allowed?
Here is the latest that people are now doing. I have been approached to assist in these sales and I refused. So I'll remain an On the side Realtor for a while.
A person decides they don't want to pay for their $300,000 home because the payments are $2,000 per month. So they stop making payment, hire a Realtor to negotiate a short sale with the banks then they sell the home to their friend for $200,000. Then they pay a credit repair guy to get their credit score back up in the 700's and they repurchase their home back from their friend for $200,000. A for sale sign never goes in the yard and it never lists on the MLS. The original people never move out of the home.
If the banks don't put a stop to short sales then they will VERY SOON be back into asking for another bailout. To cover all the short sales.
Why is this allowed?
Bob Barr 2008 | 11:52 a.m. Oct. 4, 2008
McCain voted for the millionaire bailout.
Obama voted for the millionaire bailout.
Presidential candidate Bob Barr opposed the millionaire bailout.
Obama voted for the millionaire bailout.
Presidential candidate Bob Barr opposed the millionaire bailout.
Stewart | 1:52 p.m. Oct. 4, 2008
It feels like our parents in Washington(president & congress) are forcing the rest of the family(the taxpayers) to co-sign for the mortgage of our cocaine snorting brother so he can keep his home, and continue snorting the cocaine. This demand by the parents implies that if we don't continue to enable him, we don't love him. It feels like extortion to me.
Saudi Norm | 9:35 p.m. Oct. 4, 2008
So, all the protesters want is no layoffs, no foreclosures, guaranteed return on pensions,social program entitlements, subsidized gas, food, and utilities, etc.. This works in places like Dubai where huge inflows of oil dollars can fund such an artificial economy. In an economy like the US economy it seems like a sure fire recipe for increased government debt. Bad debt is what put us into this situation in the first place. Let's not deepen the problem through a debt-funded welfare state. Such a state can only be temporary.
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