ramshot412
Champion Author
Riverside
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Message Posted:
10/2/2008 10:07:19 AM
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How come they're always bailing out the big corps and I keep having to pay may taxes no matter what my financial problems are????
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tigeriz
Veteran Author
Maine
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Message Posted:
10/2/2008 9:54:53 AM
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this is old news.
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148366
Champion Author
Spokane
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Message Posted:
10/2/2008 9:48:20 AM
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I do not believe this for one minute
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MajorSteve
All-Star Author
Oklahoma City
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Message Posted:
10/2/2008 9:45:10 AM
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So Congress is helping us out?
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MajorSteve
All-Star Author
Oklahoma City
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Message Posted:
10/2/2008 9:40:09 AM
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So Congress is helping us out?
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iluna
All-Star Author
Colorado Springs
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Message Posted:
10/2/2008 9:39:12 AM
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I'm still not feeling very safe. This drop is good for the moment, but what does the future hold? Wait, let me get my Magic Eight Ball & shake it real good.....
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djgunrunner
Champion Author
Salt Lake City
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Message Posted:
10/2/2008 9:39:03 AM
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This question is 3 days old.
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w4kh
Champion Author
Riverside
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Message Posted:
10/2/2008 9:37:54 AM
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I don't get it... ECON 101 says if the currency is weak, you need to charge MORE to recover the same real amount...
Ah, hell... everything else is upside down and screwy, why not the oil markets?
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bowler48226
Champion Author
Detroit
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Message Posted:
10/2/2008 9:37:09 AM
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As usual higher prices.
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EZExit
Veteran Author
Phoenix
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Message Posted:
10/2/2008 9:29:46 AM
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I hope that the oil speculators are getting spanked real good!
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TrixieMugsy
Champion Author
Colorado Springs
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Message Posted:
10/2/2008 9:28:25 AM
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Leave it to all the politicians to screw up something the country desperately needs!
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tbybee
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Omaha
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Message Posted:
10/2/2008 9:26:48 AM
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The bail out is full of pork and will hurt more than help.
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kevski
Champion Author
Oregon
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Message Posted:
10/2/2008 9:25:59 AM
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time to drop some more
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dyeh
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Illinois
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Message Posted:
10/2/2008 9:24:31 AM
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Yes, oil did plummet - as did other commodities and tradable futures. There is no rhyme or reason, this news didn't 'drive' anything.
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ooops
Sophomore Author
Virginia
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Message Posted:
10/2/2008 9:23:49 AM
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Dont do what?
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bdrviper
Champion Author
Grand Rapids
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Message Posted:
10/2/2008 9:23:41 AM
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old news
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BIGDADDY0034
Veteran Author
Georgia
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Message Posted:
10/2/2008 9:22:12 AM
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DONT DO IT - YOU WILL BE SORRY
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ooops
Sophomore Author
Virginia
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Message Posted:
10/2/2008 9:21:03 AM
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Let's not forget that part of this economic disaster is to blame on the avearage consumers taking out loans they can't afford. Champagne taste on a beer pocketbook.
[Edited by: ooops at 10/2/2008 10:22:35 AM EST]
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roadkillGA
Champion Author
Georgia
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Message Posted:
10/2/2008 9:19:08 AM
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Housing will stay soft as long as you can't get out to inspect.
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SeerLV
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Las Vegas
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Message Posted:
10/2/2008 9:18:47 AM
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There are worse economic times ahead so oil will fall in price due to lowered demand.
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Chazzer
Champion Author
Nevada
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Message Posted:
10/2/2008 9:16:24 AM
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I think it was an overreaction ... crude prices will be up again!
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techque
All-Star Author
St. Louis
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Message Posted:
10/2/2008 9:11:27 AM
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rochbear points out the housing market went soft, causing this default crisis. and what's the fundamental reason housing and the overall economy have tanked ?? ENERGY PRICES !!
basically, the terrorist states have hit us harder than the terrorist's bombs ever could.
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lindseyb
Veteran Author
Pennsylvania
Posts:342
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Message Posted:
10/2/2008 9:11:14 AM
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oh boy
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MightyDude
Champion Author
Minnesota
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Message Posted:
10/2/2008 9:08:57 AM
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huh?
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wizzard3040
Veteran Author
St. Louis
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Message Posted:
10/2/2008 9:08:54 AM
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Senate bill last evening....SENATE PORK !!! special interest "ear marks" that leads to a BLOATED FED BUDGET!
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krucker
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Austin
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Message Posted:
10/2/2008 9:08:00 AM
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OLD OLD NEWS!!!
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rockinrog
All-Star Author
Ontario
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Message Posted:
10/2/2008 9:07:46 AM
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keep it down.
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gasman50
Champion Author
Portland
Posts:1,315
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Message Posted:
10/2/2008 9:07:12 AM
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No news here
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ramz77
Sophomore Author
Pennsylvania
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Message Posted:
10/2/2008 9:06:45 AM
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there is another vote today...lets wait and see what happens now
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amacquarrie
Veteran Author
Nevada
Posts:338
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Message Posted:
10/2/2008 9:06:29 AM
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no kidding
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docwilly
All-Star Author
Scranton
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Message Posted:
10/2/2008 9:05:50 AM
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lets get down
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laddyboy62
Champion Author
Riverside
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Message Posted:
10/2/2008 9:05:00 AM
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lets see what happens when they pass it..
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bluebird1
Champion Author
Toronto
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Message Posted:
10/2/2008 8:57:36 AM
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Too bad it means nothing at the pumps here. Last time Oil was at $96 was roughly Feb. 2008 (according to charts on this site), & gas was $.97- .98 /L where now we feel lucky its dropped to $1.148. That's about .17 / L or $.78 /gal Cdn more now than back then.
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spunky4443
Champion Author
Washington
Posts:1,161
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Message Posted:
10/2/2008 8:55:42 AM
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Should have went down $30, if its going to drop, lets make it worthwhile.
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ladyjj
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Tennessee
Posts:1,455
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Message Posted:
10/2/2008 8:54:29 AM
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Senate passed another one last night now it goes to the house and this one seems better it helps everyone.
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zippy452
All-Star Author
Cincinnati
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Message Posted:
10/2/2008 8:54:14 AM
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Really old news.
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Wolfwings
All-Star Author
Delaware
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Message Posted:
10/2/2008 8:52:27 AM
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As each day goes by, more pork is added to the "bailout". By the time this mess is acceptable to all parties, it will costs taxpayers around US$3 million each.
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bug27
Champion Author
Kentucky
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Message Posted:
10/2/2008 8:50:30 AM
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Old news. The Senate passed the (revised) rescue plan last night.
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wizzard1222
Veteran Author
St. Louis
Posts:397
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Message Posted:
10/2/2008 8:49:00 AM
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700 BILLION is now going to be 850 BILLION!
"Congressional control on spending"!
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cantonbill
All-Star Author
Atlanta
Posts:532
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Message Posted:
10/2/2008 8:47:32 AM
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About 3 years ago I was offered an interest only, subprime mortgage on a property I knew I couldn't afford. The loan officer had no business making the offer to me. I told him what I could afford and gave him my basic income and credit information. I had enough sense to walk away, but many people didn't. Neither dems nor repubs are to blame in a situation like that.
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Itsme
Veteran Author
Pennsylvania
Posts:269
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Message Posted:
10/2/2008 8:46:21 AM
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Price per barrel has fallen a long ways since the record high. However, we have not seen near a decline at the pump. Corporate GREED!
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cantonbill
All-Star Author
Atlanta
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Message Posted:
10/2/2008 8:44:06 AM
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to REVLAW and RochBear: Dems "forced" banks to make sub-prime loans? Where were the loan officers and underwriters who are supposed to evaluate a mortgage applicant to see if they are qualified for a mortgage? How do you "force" a bank to make loans? That's just major BS. There is lots of blames both for banks pushing loans on people not qualified and to the people themselves who don't do their homework before jumping into an interest only or adjustable rate mortgage just to get on the real estate bandwagon.
I've been trying to read from a lot of different sources and it seems there is plenty of blame to go around. I read some congressional testimony earlier that suggested Dems had opportunities back in 2003 to regulate Freddie and Fannie, but as my previous post pointed out, there were lots of villains besides Freddie and Fannie. There was huge pressure in the system from the banks that are now in trouble to get these sub prime mortgages packaged into securities that could be sold for tremendous profit. The pressure was to lower lending standards and get as many loans as possible. It was a classic bubble and then the bottom fell out.
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Jagman98
All-Star Author
Louisville
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Message Posted:
10/2/2008 8:41:52 AM
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They are just like fighting show cocks.....a lot of posturing...let's get to the real fighting on the House floor!!!
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AC-302
Champion Author
Los Angeles
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Message Posted:
10/2/2008 8:40:02 AM
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It must be a slow news day..
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REVLAW
Champion Author
San Antonio
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Message Posted:
10/2/2008 8:36:51 AM
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For all folks who think the "problem" does not touch you ... check the impact on your 401k and other retirement plans that invest in the market. Check the amount of "matching funds" your employer will be making in the future to your retirement plan. Look at the way interest rates have increased in the past couple of days for purchases of simple things like automobiles. Better yet ... try to get an auto loan ... the credit is not as freely available during this period of uncertainty. Banks, credit unions, and other financial institutions are closely scrutinizing credit applications (hope you have never filed bankruptcy). This problem affects the smallest of us all and the impact will be felt by all if confidence in the financial system is allowed to further erode by application of emotion. Follow the money if you want to find the culprit (accountability needed), but first we need an immediate fix to the problem. Simply put ... think.
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tobasco
Champion Author
Los Angeles
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Message Posted:
10/2/2008 8:35:41 AM
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Now they will go up?
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RochBear
Champion Author
Minnesota
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Message Posted:
10/2/2008 8:34:59 AM
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The Dems under CLinton forced the banks to make "sub prime" loans. You can look up that law, but if a bank was to make any loans they had to make so many as sub prime.
Now the housing market got a little soft, and these sub prime people simply defaulted, since they were loaned more than 100% of the value of the house. (0% down, plus included the closing costs) So the borrower owed more than the value of the inflated value of the house. Then the house value fell, and these "sub prime" people (who have nothing anyhow) simply walked away.
So The Dems caused the problem with this law, and now we are all screwed. Remember this in NOV. and make sure Nancy P. has to go back to CA and buy her own gas (as an unemployed person)
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itsrich
Sophomore Author
Indiana
Posts:222
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Message Posted:
10/2/2008 8:31:01 AM
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Hmmm, so there are greedy people driving prices
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rod1965
All-Star Author
Portland
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Message Posted:
10/2/2008 8:29:28 AM
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Good, we should not have to rescue these people. let them pay their investors or file for bankrupcy. Look at Donald Trump.
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C5vette2004
All-Star Author
Little Rock
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Message Posted:
10/2/2008 8:28:26 AM
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no kidding keep rejecting till we get to $20 a barrel
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