Bush Bail Out - Round Two
The proposed bail out plan that was initially submitted by the U.S. Dept. of the Treasury last Friday has received numerous revisions and additions. Angered Americans made their opinion known regarding the bailout and the proposed plan continues to be “tweaked”.
As proposed it would allow the U.S. Dept. of the Treasury to purchase up to $700 billion in troubled residential and commercial mortgage-related assets, including mortgage-backed securities and loans; which should prop up the U.S. financial markets.
One of Congress’ primary goals is to minimize the financial impact of this rescue on taxpayers. The current revised proposal calls for the Treasury to acquire an equity stake in the companies that are bailed out. The stocks could be sold at a later date, which could enable taxpayers to recoup some of the cost.
As proposed it would allow the U.S. Dept. of the Treasury to purchase up to $700 billion in troubled residential and commercial mortgage-related assets, including mortgage-backed securities and loans; which should prop up the U.S. financial markets.
One of Congress’ primary goals is to minimize the financial impact of this rescue on taxpayers. The current revised proposal calls for the Treasury to acquire an equity stake in the companies that are bailed out. The stocks could be sold at a later date, which could enable taxpayers to recoup some of the cost.
Wouldn't it be wonderful if we could wave a magic wand and know what is really the best thing to do.
I watched as a real estate agent for years folks buying what the could not afford. Many even taking on the interest only loans so they could buy a whole lot more than they could afford. By doing interest only the payment was much lower so they could afford to buy a property with a much larger price tag.
So now I am having to pay for all those noloads and the lenders who allowed them to do this to us... I am mad as hell..
On a better note, you have a really neat website and I think its great that you write articles so frequently.
Keep up the good work.
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Thanks for your comments.
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