I've just finished going through the Wall Street Bailout bill that is adorned with Christmas balls for the upward mobile, that provides NOTHING for the average American, with but one notable exception.
If you are an average American struggling to make your mortgage payments, I highly recommend you consider no longer making your mortgage payments, letting the bank start foreclusure on your home. At least then you have a SMALL CHANCE at the following benefits:
(A) reduction in interest rates;
(B) reduction of loan principal; and
(C) other similar modifications.
For the rest of us...NOTHING. Our interest rates will stay the same, we will recieve no reduction in our principle owed, even though the misdeeds of others have cost us our equity. The only thing we will get, is our portion of the debt from this BAILOUT FIASCO.
Most troubling...this bill will make Secretary of the Treasury Paulson the most powerful man on earth. The bill gives this man never before dreamed of powers, writes into the law his absolute authority.
My advice to every American earning less than $100K a year...stop making payments on your house, your credit cards, and any other loans, including your car. Go buy a safe, and start banking your CASH.
If you are an average American struggling to make your mortgage payments, I highly recommend you consider no longer making your mortgage payments, letting the bank start foreclusure on your home. At least then you have a SMALL CHANCE at the following benefits:
(A) reduction in interest rates;
(B) reduction of loan principal; and
(C) other similar modifications.
For the rest of us...NOTHING. Our interest rates will stay the same, we will recieve no reduction in our principle owed, even though the misdeeds of others have cost us our equity. The only thing we will get, is our portion of the debt from this BAILOUT FIASCO.
Most troubling...this bill will make Secretary of the Treasury Paulson the most powerful man on earth. The bill gives this man never before dreamed of powers, writes into the law his absolute authority.
My advice to every American earning less than $100K a year...stop making payments on your house, your credit cards, and any other loans, including your car. Go buy a safe, and start banking your CASH.
1 comment:
Recently an insurance company nearly wind up....
A bank is nearly bankrupt......
How it affect you? Did you buy insurance? Did you buy mini note or bonds?
They say without using tax payer money, they will not be able to lend to small companies…..
Bank primary role is to lend money….else what sort of business will let them earn….?
The bankrupt company have chapter 11, the fail finance industry got bail out…… but your credit card will never get bail out…….other industries did not got bail out and merger etc and job laid
Who fault?
The top management of the Public listed company ( belong to "public" ) salary should be tied a portion of it to the shares price ( IPO or ave 5 years ).... so when the shares price drop, it don't just penalise the investors, but those who don't take care of the company.....If this rule is pass on, without any need of further regulation, all industries ( as long as it is public listed ) will be self regulated......
Sign a petition to your favourite president candidate, congress member again and ask for their views to comment on this, and what regulations they are going to raise for implementation.....If you agree on my point, please share with many people as possible....
http://remindmyselfinstock.blogspot.com/
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