Don't have an account? To participate in discussions consider signing up or signing in
facebook connect
Sign-up, its free! Close [x]

Benefits

  • okay Create lasting relationships with other like minded women.
  • okay Blogging, let your voice be heard!
  • okay Interact with other women through blogs,questions and groups.
  • okay Photo Album, upload your most recent vacation pictures.
  • okay Contests, Free weekly prize drawing.
  • okay Weekly Newsletter.


Ladies,

It is imperative that you voice your opinion on this Bank Bailout. This is YOUR money. Tax revenue. But, simply put, it will add $700,000,000, yes BILLION, to our national debt.  

Moreover, there is ABSOLUTELY NO GUARANTEE IT WILL WORK, that more $$$$ won’t be “necessary“. And, more frightening, many other industries are carefully watching this bailout, ready to line up for their handouts. The auto industry is first in line. Where will it end?  

Many top economic experts are strongly against this bailout.

The reason for the crisis is the “bad paper” from the “sub-prime” loans, KNOWINGLY given to people who could NOT AFFORD TO PAY THEM BACK. Why reward these companies by buying this bad paper to help them out? What have they learned? What’s to say that they won’t try other schemes to increase revenue, with the idea that they’ll be bailed out again?

Now, it has snowballed throughout the country. Many people are upside down in their mortgages. They cannot refinance the ARMs that are now hundreds, if not a thousand or more than the original monthly payment. This is causing the foreclosures. The foreclosures are causing everyone’s homes to be devalued.

The loans that are close to, or in foreclosure ARE the problem. Why not simply help these homeowners that are able to pay refinance their loans? (The mortgage companies ARE NOT working with clients to do this. They are waiting for a bailout). Anyhow, that would clean up the books, and stabilize the home market. Home prices will go up, or at least, stop going down. I’ve heard the $$ it would cost to do this (and forgot the exact number), but I believe it was in the 1-10’s of billions, NOT $700 BILLION!

These are my thoughts, I don’t wish to tell anyone WHAT to think on this issue, only to think about it and make your feelings heard.  

Here is the link to “Roll Call“, Congress.org [Link Removed]
You can find your Representative by zipcode, or name.
Let ‘em know what you feel. This is the time in our history that we MUST stand up for our rights as citizens and the country!


Dana, Your links have been removed, please consider upgrading to premium membership.



  •  

Member Comments

    • 0 votes vote up vote up

      Shopgirl1960 wrote Sep 25, 2008
    • Here’s to the women ( clinking of glasses ) that care enough
      to try to make our beloved country a better place to live !!!!
      It has become my viewpoint that Americans need to start standing up to our government and let our voices be heard !!!!
      Perhaps if ALL Americans stand together,we can make this country what it is supposed to be.... The “UNITED” States of
      America. Not the United States of Government !!!
      ( Please do not think I am anti-government,because that is
      not true.)

      I haven’t studied enough about this issue (as should be done) to fairly access the situation... but I APPLAUDE your passion !!!  

      Kind Regards !
      Della Kemp



            Report  Reply


    • 0 votes vote up vote up

      Dana Hall wrote Sep 25, 2008
    • Thanks Della!
      I guess that’s why I’m “Passionate for Life“. LOL!
      [Link Removed]

      Annie,
      No one’s yelling at you. :)
      I’m just suggesting that we women take a stand and make our voices heard.

      Regarding the foreclosure mess...
      In our community (one of the worst hit in the nation), people who took out mortgages they couldn't afford, are a part of the problem, but unfortunately, the news commentators don’t report or maybe understand, that it is much more complicated than that.  

      Homes in our community have lost 30-40% of value.  

      Say, for example, one partner lost their job. Now, they cannot afford the mortgage. AND, they can’t sell because they are now upside down in their mortgage and have even lost their down payment, which may have been substantial. Because homes are sitting on the market with the glut of homes, they will most likely be forced into foreclosure.

      Other reasons people can find themselves in this position are job transfers, life situations, etc. I heard of one man who unexpectedly lost his wife due to illness. They were a young married couple, in their dream home, that they could afford comfortably with two paychecks.

      There as many stories (faces) of foreclosure as there are people in foreclosure. And, sadly foreclosure affects all homeowners/home values.


      Dana, Your links have been removed, please consider upgrading to premium membership.



            Report  Reply


    • 0 votes vote up vote up

      Rosa Page wrote Sep 26, 2008
    • In the constitution it is not writen that one of our rights as US Citizens is to own a home! What is wrong with renting? I live in south Florida. When the housing boom took place all the rental communities turned into condo’s and now we have to many mini mansions and way to many condo’s. I say let the banks fail. If you can swim than you swim if you don’t, it’s not my responsibility (goverment) to make sure you have a roof over your head. When one business fails another opens. So everyone should relax to a glass of wine and lets think about this.



            Report  Reply


    • 0 votes vote up vote up

      Dana Hall wrote Sep 26, 2008
    • Annie,

      I know what you mean. There are PLENTY of those.

      Thanks for replying,

      Dana



            Report  Reply


    • 0 votes vote up vote up

      Dee Dee Shaw wrote Sep 29, 2008
    • We also need to understand that those people were encouraged to take out loans - loan officers were encouraged to give them (even without a good debt to income ratio) by our government. It was a program that was set up to ‘help’ people. It goes right along with the no child left behind mentality. It is so reeking of communism it makes me want to barf! Everybody should be equal,right? Doesn’t matter that Joe busts his butt to do his best, Fred ought to get a pat on the back too. There is nothing FAIR about our fair market. The bible says “he who works eats” and yet that is not how we run our country. We are so worried about little Johnny’s self esteem that we are teaching that you don’t have to work, just show up and smile. I know I am venting a little here... but our economy is plummeting. And our upcoming candidates are just plum scary. Obama is sure to ‘level the playing field’ even more by taxing all but the poor so heavily that we will quickly end up with a caste system - rich and poor - no middle class. We are already well on our way.
      My husband just took a job across the country. Now we are faced with trying to get a fair price for our house so we can buy a house out there. We are in the house range where not many are buying right now. This mess directly affects me, and it makes me mad. Stupidity is what got us in this mess, and stupidity is digging the whole deeper. I have heard rumors that Hillary is going to take Obama’s place. Heaven help us!
      I am passionate about life too, can ya tell? ;)

      Dee Dee



            Report  Reply


    • 0 votes vote up vote up

      Rosa Page wrote Sep 30, 2008
    • We just need to fasten our seat belts here. We are in for a bumpy ride. We have to stop living in the past eight years. The goverment should not bail out wall street. The goverment should have a program to help refin all homes under 1 million maybe extend loan term to 60 years that would lower your monthly payment a little. increase deductiable on income taxes allow the home owner to claim the loss of value in their income taxes (this should apply only to the middle class and poor). STOP giving money to other countries. Stop the war in Iraq as of NOW! Who care if all hell brakes out in Iraq. Hell is about to brake out here. Lets Stop worring about the world and worry more about US. Stop trying to lead when the world is not following nor to they seem to want to. We have real issue in this country and it’s a shame that we have no true leaders. NOT ONE! McCain let me down with Sarah as VP. Obama let me down with not wanting Hillary as VP. Both these guys are questionalbe.



            Report  Reply


    • 0 votes vote up vote up

      Bobbi Bacha wrote Oct 2, 2008
    • No one has bailed me out.  In fact as a woman business woman its harder than hell.

      I dont want anyone forclosed on but I just remember something I heard and beware when the government scares the people into voting they way they want.

      Obviously, this is happening... do this or lose your home and jobs !!!  What is going on here ???  

      Its very dangerous what ever it is !  I dont like being scared into supporting anything !  Its an old tactic that many politicians use to get elected and now, it seems our government is using to force a bill.  

      I say, pay us the people the bail out money to pay off our mortgages (it would be enough to pay off all our mortgages) then we can spend money building our economy by creating jobs, buying, etc, this way we dont lose our homes.  

      Let wall street, figure out thier own mess.  Wall streets your wealthiest top percent and Im sure they will go home to thier butlers, and limos.  I dont think they will suffer too much.

      I dont trust this.  At all, and I was listening that a Reagan aide said, Reagan would not approve of this at all.

      What are we missing here ?  Dont be frightened into to doing something. That we cant reverse and will harm us down the road for a quick fix now.  Wall street has not crashed as they predicted, several weeks ago.  Its going up and down.  

      I know its bad if its down but it hasent crashed.  I also like what40’s idea.



            Report  Reply


About this author View Blog » 
author