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Are you for or against the bail out plan?

Explain your answer? Have you read the bill? Has your Congressmen voted the way you wanted them to?

 
Eilish

Asked by Eilish at 12:04 PM on Oct. 2, 2008 in Politics & Current Events

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This question is closed.
Answers (13)
  • I think I am like most trying to understand it
    JrSmOm2005

    Answer by JrSmOm2005 at 12:05 PM on Oct. 2, 2008

  • I am against it. I wrote to my congressman and he wrote back stating he too is against it. This will not fix our economy.
    njmommy2boys

    Answer by njmommy2boys at 12:09 PM on Oct. 2, 2008

  • I think the banks knew what they were doing when they offered those ARM's. They planned on collecting payments for a couple of years, then upping the payment so high the buyer couldn't afford it, then they get the house AND all the money that was already paid for it. Just like people who rent - to -own houses to people with bad credit, but expect them to refinance in 2 years. Knowing that if they can't, they get repossession of the house and keep all the money.

    The problem is, it backfired on the Banks. I don't think the government should give the Banks money, rather, they should find a way to help foreclosed upon people get their houses back, and stop the working people from losing any more houses due to inflated payments. Help the working man.
    Anonymous

    Answer by Anonymous at 12:21 PM on Oct. 2, 2008

  • I am for a bailout if it goes to people in need, and not greedy corporations or banks.
    Anonymous

    Answer by Anonymous at 12:26 PM on Oct. 2, 2008

  • Against. Go to YouTube and see what Ron Paul has to say about the bail out and how it will really affect America. Paul is the only sane republican.
    tiffanysgirls

    Answer by tiffanysgirls at 12:29 PM on Oct. 2, 2008

  • I am against the bail out and DH is one the fence about it, I read the house bill, but have not had time to read the senate version. I don't think that it is going to do anything to help the middle class. And untill last night I didn't realise that we are giving the money to one of the guys that was a ceo of one of the banks that got us into this trouble.
    MarshaB702

    Answer by MarshaB702 at 12:44 PM on Oct. 2, 2008

  • NO but what else can we do?
    Imogine

    Answer by Imogine at 12:47 PM on Oct. 2, 2008

  • Remembering "redlining"?? The banks didn't want to give loans to a certain segment of the population--those with poor credit histories. The govt stepped in and strong armed them into it--remember ACORN (Obama helped in it). Ther were forced to give loans they knew wouldn't get paid back in order to get support for their own growth. Our govt. caused this--not "greedy" banks or mortgage lenders. Now they pass a bill that is FULL of pork.
    Ronnie80

    Answer by Ronnie80 at 12:52 PM on Oct. 2, 2008

  • ""The banks didn't want to give loans to a certain segment of the population--those with poor credit histories. The govt stepped in and strong armed them into it--remember ACORN (Obama helped in it). Ther were forced to give loans they knew wouldn't get paid back in order to get support for their own growth""

    The current situation has very little to do with people with poor credit, it is due to house payments getting inflated so high that the buyer couldn't afford them anymore. I'm sure if the payments had remained the same, the houses would not be foreclosed upon.

    If the bank would rather force people out of their homes than drop the payment back down to a manageable level, then yes, they are greedy. Now they are sitting on tons of empty houses they can't sell, instead of letting people keep their homes and reducing the interest. I say let them stew in it.
    Anonymous

    Answer by Anonymous at 1:34 PM on Oct. 2, 2008

  • If your going to "be nice enough" to give someone with bad credit a loan, let them make payments for two or three years, then up the payment so high that they can no longer afford it and repossess the property they have already paid so much money for, then you are a predatory lender.

    Predatory lenders deserve what negative reactions are caused by their practices. They don't deserve a government handout.
    Anonymous

    Answer by Anonymous at 1:43 PM on Oct. 2, 2008