Will the New Bail Out Plan Help The Credit Crisis?

Will the New Bail Out Plan Help The Credit Crisis?


Well that’s the $825 Billion Dollar question! Let’s see they are going to cut taxes then raises them up higher later but don’t say when later really will happen. Then they want to give us money LOL, give us money it is OUR MONEY (that is IF you Pay taxes) because part of Obama’s plan is to give tax relief and tax credits to people who don’t pay taxes anyway. Sign me up for that, take money from hard working tax payers then give it to people who don’t work and live of the government (OUR MONEY) then give the more money in tax credit checks LOL. Yet this is the plan and the funny thing is that over 50% of the people in America think it’s a good idea. They also think the $500.00 check the government is handing out is FREE.

It’s TAXPAYERS MONEY! NOT FREE MONEY! Then those same 50% wonder why the economy is so bad. Look if we ran our households and business’s like that well we would be out on our butt’s with no one to bail us out. Why are we giving money to banks with NO regulation? Then wonder why all credit is tightening up more than ever. Correct me if I am wrong but wasn’t the bailout money to ease the CREDIT CRISIS? Look I am a mortgage broker and I deal with over 100 lenders and banks including the top 3 in the country. I can tell you that even people with 700-800 credit scores are having a hard time getting financing. Why you may ask, it’s because the banks are not required to do anything specific with the bailout money. So now they are sitting on it, not using it to help home owners who are in over their heads with high interest rates. They will sit on the money then buy up smaller banks and there assets, and let the homeowners continue to suffer more foreclosures. So in a nut shell OUR (i.e. the taxpayer) MONEY goes to make the banks richer while doing nothing for the economy or the real estate market. The sad part is we the taxpayer still suffers and will continue to for a long time to come. We need to stand up and say enough is enough and demand that congress get off their butts and NOT give out anymore of OUR MONEY and if they do we will FIRE THEM in 20 months and put people in office who will do their jobs and truly protect the TAXPAYER you and me. Sorry I kind of went off but I am tried of the stupidity in this country. Let me know what you think.

P.S. The answer to the bailout question helping the CREDIT CRISIS is NO NO NO!




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