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The Bailout.Why it will NOT work

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Julio E. Sune Jr. (FL)

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Florida
http://money.cnn.com/2008/11/13/news/economy/dodd_hearing/index.htm?cnn=yes

Yesterday the Government decided they would NOT purchase the *junk* from banks...[*non-performing assets*] and decided it was "better" to use the $$ to "shore-up" non-regulated institutions.........Wowwww!!!! What a reversal!!!!..........I bet that one of the biggest problems would have been determining the VALUE of these "non performing assets"....I guess they first just tried through BPO's and it did NOT work......

Now the "beat will go on".....as usual..........no real solution........

{"Banks are failing to use public funds to make credit more available and to help troubled homeowners, said Sen. Christopher Dodd, D-Conn. Congress did not pass the bailout plan so banks could hoard the money or use it to scoop up faltering rivals, he said."}

Better sharpen your foreclosure skills!!!
1__Value "as is"
2__Value as repaired
3__Value to Investor [Discounted]

^..^ Kool Kat
 
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Doesn't look good does it. I'm just waiting for the General Motors decision. If they fail they fail, however it will just send this country deeper into the black hole.
 

Riick

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I was talking about GM last night with a friend.
GM is getting killed because of what they need to pay out on retirement plans.
(( The money for this WAS there, until about 2000, when the market fell apart ))
The USA needs GM for the war machine, ditto FORD.
My thinking is that a back-room deal will be made, GM will go under, the retirees, stock and bond holders, and Dealers will get [email protected]@d,
and subsequently, GM will be sold back to the CEO & Company.
Presto Chango - viable company.
 

Doug in NC

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I hope we will not bail out the auto industry. But knowing that favors are the grease (sludge) that affects every decision our politicians make, I fully expect a corrupt Congress to bail them out. Many senators and reps are beholden to the union lobbies. As Riick stated, it is the union benefits program that is making US auto company vehicles un-competitive with non-union manufacturers.

Anyone else speechless as to how $trillions are getting tossed around in Washington lately? This is all really beyond belief and the people doing it seem to care less if it could cause the country to fall.
 

Offshore

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North Carolina
The bailout will continue to work as long as the blue cities successfully bleed the red counties of their resources.
 

Michigan CG

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The news papers around here have automotive news every day. I don't see Chrysler surviving. It doesn't look like GM will get them, and doesn't look like Ford wants them.

Ford and GM will not be let to fail. They are a large part of our national security. I can see GM going into bankruptcy and therefore voiding all contracts with the UAW.
 

Mary Tiernan

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Heard an interesting tid bit the other day

it costs $75+ per hour to make an automobile by the Big 3

it costs $45 an hour for Honda, etc.

My husband says $1,500 of each car (Big 3) goes to the health plan.


I am not a believer in philosophies, however, I was previously informed the Mayan calendar ends in 2012. Although I usually phshaw such talk, I am thinking our government might just be leading us down the path where an end, a violent end, may be within our sights.

When will the arrest warrants and indictments be handed out for the people that cooked the books?
 

Riick

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Delaware
.......When will the arrest warrants and indictments be handed out for the people that cooked the books?
"There is no native criminal class, excepting Congress" - Mark Twain
.
 

Michigan CG

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Heard an interesting tid bit the other day

it costs $75+ per hour to make an automobile by the Big 3

it costs $45 an hour for Honda, etc.

My husband says $1,500 of each car (Big 3) goes to the health plan.

Those numbers are correct.
 
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