Dodd and Frank still managed to screw you.

[CSX4236]

So how does this rescue plan affect me? This just in...

"The commercial paper market is used by companies to borrow money over short periods, such as 60 days, to help them pay day-to-day expenses and run their businesses more smoothly. The market peaked in July 2007 at more than $2 trillion, but then plunged as companies and other entities with big mortgage exposure were purged."

If the person that signs your paycheck relies on short-term credit (it's not just consumers that have gotten stone-drunk over easy credit) to do such mundane things like meet payroll, pay suppliers, taxes, etc. you should be very concerned because it's disppearing faster than no-doc mortgages. Next in line will be credit lines that companies have relied on to do much the same. AT&T couldn't get anyone interested in their notes for more than overnight (and that was a week ago).

So, before we all lose focus on what's really at stake, take a deep breath and ask yourself how long you and can survive off of savings and unemployment. I'm going to hold off on the blame game for now and push to get my respresentatives to focus on something other than their re-election coffers long enough to vote this thing through. I'd still like to be getting a paycheck come next week...

[BigGuy]

Also to the comment about "no one held a gun to the banks heads to make these loans" This is false because the government fined the lenders for discrimination if they didn't make the loans. Some lenders of course got blinded by the flow of capital and specialized in making these loans. Our politicians started the mess, but would not take action and be painted as racist for suggesting any changes even years later! Not many politicians are not “maverick” enough to commit political suicide, and look like they discriminate.

Vote out all the crooks....end professional politicians with term limits, change their benefits so that they receive what taxpayers receive (health care and pension, etc.)
I can't see these changes happening any time soon, to bad for our nation. There's a strong chance we'll get the socialist Obama and his cronies kind of change like we've never seen before. All because Congress acts like the money to pay for all of this is off of the trees behind the Capital?! They will tax us for more and more to pay for their wasteful habits, that we enable.

.

[jhv48]

Originally Posted by BigGuy

Also to the comment about "no one held a gun to the banks heads to make these loans" .

What I actually said was that no one held a gun to OUR heads and made us sign the loan docs. If we had said no, none of this would have happened.

WE got greedy. They made it easy for us. Think of the drug dealer. He is just satisfying a demand.

No demand, no drug dealer.