Forum Post: WTF -- Banks are reported BILLIONS IN PROFITS! The Government Should Protect People from Foreclosures with "PEOPLE BAILOUT" just like the banks got
Posted 13 years ago on Oct. 18, 2011, 1:17 p.m. EST by FedWallFedWellFedUP
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WTF -- Banks are reported BILLIONS IN PROFITS! The Government Should Protect People from Foreclosures with "PEOPLE BAILOUT" just like the banks got...Whereas the Government failed to PROTECT the people against Wall Street Schemers and Greedy Banking System and whereas the people no longer enjoy domestic tranquility, WE THE PEOPLE IN A GOVERNMENT OF THE PEOPLE BY THE PEOPLE AND FOR THE PEOPLE DEMAND BAILOUT FOR those you can no longer afford their mortgages. The government will pay mortgage now and deduct from future tax returns and/or social security payments.
this is a joke. really, have the government pay for the stupid decisions by individuals. get real
The Banks were LOANED money, and they've paid it back with interest.
The Government ALREADY has a program in place to LOAN money to people with bad mortgages, the Fed has pushed rates on mortgages to record lows, and the administration is now working with banks to FORGIVE some debt of folks who are "upside down."
Many of the people who can "no longer afford their mortgages" were private investors who bought thinking they would make a quick profit. Remember shows like "Flip This House" ? The mantra was "you never lose in real-estate," and folks were buying homes just to resell them 6 months later at a profit.
What was even more amazing about the bailouts is that the government gave the money to the banks and basically said "Do whatever you want with it." Same thing happened when Bernanke gave the banks $600 billion in newly-created US dollars.
I must agree that the bailouts didn't work. Money spent on party junkets to Las Vegas, saleries for CEOs and money that just disappeared. Tonight, on the CBS News, they reported that the U.S. Government just gave the Lybian rebels 11 million dollars. However, not one penny for the 13,000+ homeless, starving children of Los Angeles. We are Trillions in debt and can come up with $11,000,000.00 more in "Foreign Aid". How generous America is to everyone but its own.
Totally agree...our leaders have lost their compass...we are a Nation of the People, for the People and by the People...our representatives did not protect the People either by design or unwittingly...we need to fix this thing ourselves now and demand PEOPLE AID that is rightfully ours to demand.
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thanks for your comments
Jon Stewart made one good comment at the time of the bank bailouts- how about giving the money to the banks as mortgage payments for the people instead of just a gift to the banks. The banks would have received the money and people would not have lost their homes. Then the homeowners would have continued to pay local property taxes which would also have helped the states. Of course the "experts" said that couldn't be done. Can't redo what was done but reducing future social security payments does not seem like a good idea to me. People need to have ss to survive and would probably just end up with no money in their old age especially with corps. destroying retirement pensions.
This is a great idea and it should have been done. The U.S. Govt just threw money by the billions at the banks with no accountability and not one bit of compassion for the people who lost there homes. There are hundreds of foreclosure signs in this little rural area but the worst I saw was a home made sign on a farm barn. "Goodbye. 51 years and we have lost our farm". Vote ALL senators & congressmen out next election and see how they like unemployment.
thanks for your input...it could have been done and we can still do it...also about future ss payments....we need to save today to have a tomorrow...alot of these people are ending up homeless and worse...too many are suffering and they are victims of this mess.
I didn't buy a home because I am careful with my money and honor my contracts. Why should I be forced to bailout people who entered into contracts that they were unprepared to meet the requirements of?
I am in favor of eliminating corporate funding of politics, of requiring voting machines to generate a paper trail and produce easily audited results, and of run-off voting. I am not in favor of bailing anyone out, corporations or you.
Everyone who has been careful with their money is kidding themselves if they think this Wall Street/Fed scheme did not steal money out of their pockets too.
So your argument to persuade me to take more of my money for ANOTHER bailout is that the first bailout cost me money?!?
You're hurting your own stance.
I don't think we should bail out people either. But I also think we shouldn't have a system in which banks can raise interest rates to cover their own at the expense of others...
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the details are hard to work out, I think we should make it (corporate money out) mandatory and let our politicians debate the details in public forums. That way we can better chose who to oust or to re-elect.