$700 B Bailout

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Originally Posted by FRPLG

Honestly there are a lot of smart people who can't figure this out. I think if it was easy to figure out it wouldn't have happened.

Right now, in whatever form, the bailout has like a 50-50 shot at righting this stuff at best anways.

That is why it is taking so long. Neither side wants to ram a proposal down not because they want to be seen as working together but more importantly they want to CYA. They both want to be able to say the other side voted for this thing too if it doesn't work.

It not at hard to figure out. Too many people had loans which they should not have ever had and they could not afford them. When the housing market was doing so great people with mortgage issues or payments too high could just sell their home at a profit and walk away. Now when the sh&* hits the fan they cannot sell their home in a soft market and the trouble begins. Back before the mid 90's about the only way people lost their homes was do to a loss of a job. Now days people are just loosing their homes and still have the same income as they did when they purchased them. Now its going to get much tougher to buy a home and hopefully we do not repeat this again.