The BIG Bailout

[Mr. Blue]

Originally Posted by Useless Warrior

I would LOVE a detailed explanation about how this will truly effect the average American, from the financial gurus, if the bailout doesn't pass. I keep hearing threats of doom and gloom, but without any real clarification of what the doom really is.

At this very moment, I'm quite happy that I don't have any money.

EDIT: THE BILL HAS FAILED. ANARCHY!!!

That's the thing that bothers me most about it. They keep making it like if it doesn't pass, boom, America shuts down and we put up the Not Open for Business sign.

[Useless]

Originally Posted by Mr. Blue

That's the thing that bothers me most about it. They keep making it like if it doesn't pass, boom, America shuts down and we put up the Not Open for Business sign.

The only thing I've heard so far is that it would be really difficult to get a mortgage. Well, my mortgage is held by one of the strong banks that is actually buying the failing banks and I have no immediate plans to sell my home, so, well, yeah. It's all about the banks' ability/willingness to extend credit.

[Mr. Blue]

Originally Posted by Useless Warrior

The only thing I've heard so far is that it would be really difficult to get a mortgage. Well, my mortgage is held by one of the strong banks that is actually buying the failing banks and I have no immediate plans to sell my home, so, well, yeah. It's all about the banks' ability/willingness to extend credit.

Also a good dose of American's getting scared and putting their money in their mattress...that's the basics.

[tickler]

Originally Posted by Useless Warrior

The only thing I've heard so far is that it would be really difficult to get a mortgage. Well, my mortgage is held by one of the strong banks that is actually buying the failing banks and I have no immediate plans to sell my home, so, well, yeah. It's all about the banks' ability/willingness to extend credit.

Hmmm, a lot of companies use their line of credit to do payrolls, buy raw materials, etc.