“Constituents Make their Bailout Views known” an excellent article and evidence that
we, the people, vote NO BAIL-out! Read article at:
“Stopping a Financial Crisis the Swedish way” article in NY Times today, suggests that if the government is going to do a ‘bail-out’ then it must take back equity in exchange for money just as if they were really lending money, and not giving it. Read article at::
5:02 PM 9/25/2008
And quote from article in NY Times entitled “Plan’s Mystery;what’s all this stuff worth?”
written by Vikas Bajaj:
“The mortgages, with an average size of about $450,000, were Alt-A loans — the kind often referred to as liar loans, because lenders made them without the usual documentation to verify borrowers’ incomes or savings. Nearly 60 percent of the loans were made in California, Florida and Arizona, where home prices rose — and subsequently fell — faster than almost anywhere else in the country.
Bear Stearns bundled the loans into 37 different kinds of bonds, ranked by varying levels of risk, for sale to investment banks, hedge funds and insurance companies.”
Reread that if you need too, since what is says is very important. They provided money for high end houses without verifying IF the people could pay for them, and then resold them to ‘investment houses” . That would be called gambling in most people’s eyes. Gambling when it is a known activity is bad in its own right, but gambling with money that is not yours and when you don’t know it’s gambling is even worst!
——-Also, I want to reiterate that I am a “LIPSTICK REPUBLICAN” supporter of the Republican Party and also Mrs Sarah Palin as VP. In looking at the Yahoo News photos a few evenings ago I noticed one T-shirt wearer that had that slogan on the back of shirt, and I thought, “what a great slogan for us women Republicans!” and I also noted a ‘fan’ of hers with a poster-board with these words on it:
and I agree, except qualify that of course I believe guns are for hunting game, or self-defense only. Also please reread my letter to the Health and Human Services Director Mike Leavitt about medical doctors and nurses having the liberty to not kill. It is the entry of yesterday.
/s/ gloriapoole, RN and artist, Denver CO 80203
Update as of 6:25pm MT:
This article in Yahoo News entitled “$700B bailout plan breaks apart; talks to continue” includes this quote from House Ranking Member Richard Shelby:”Sen. Richard Shelby
of Alabama, the top Republican on the Senate Banking Committee, emerged from the White House
meeting to say the announced agreement “is obviously no agreement.”[end quote]. Please read entire article.