The real truth is Washington doesn’t give a damn about Wall Street, Main street, or Ma and Pa taxpayer for that matter.
The only entities having their credit lines squeezed are government entities.
The State of California for instance, $ 16 billion in the hole and counting, not to mention all of the city, county, municipal, and quazi government entities that are stinking of bad debt in the golden state.
All of them weighted down by decades of Democratic misrule, the city of Vallejo had declaired bankruptcy, look for more of the cities of Cal to follow suit, that is unless the House decides to give local governments the Oprah’s Mother credit treatment.

How about if the Feds redirect their bailout money to Main Street by directly sending financial asistance in the form of credit or grant to those homeowners whose homes are on the verge of foreclosure

CA has a Vet Loan program that is self sufficient to help Vets get into homes. I suggested to my Senators and Rep that they consider such a direct action to help stablaize the situation. Unfortunatley, my contributions to thier campaign pale in comparison to those of Wall Street power brokers and the Freddie Fannie lobby. I say cut Wall Street out totally.

I would also make the program available to qualified businesses in need of financing.

In it I found the factoid: “The top U.S. auto dealership group AutoNation Inc said on Tuesday that car loan approval rates had dropped to about 60 percent from 90 percent a year ago.”

To me this just shows that a majority of buyers can still buy a car. It also shows me that everyone expects the easy money to keep flowing. People need to realize that we have to live within our means and that ones credit worthiness is dependnent on earned income and not how much thier house is worth on paper. It is the easy money to unqualified spenders that inflated the bubble. Our economy was not sustainable as it was and we don’t need a bailout to keep the reckless spending going.

I’m just sayin’……..

How about if the Feds redirect their bailout money to Main Street by directly sending financial asistance in the form of credit or grant to those homeowners whose homes are on the verge of foreclosure. Homeowners will pay-off their mortgage payments that are in arrears and the bank will have some cash to recycle and provide loans to consumers. The only restriction here is that the assistance can only be used to save someone’s primary residence, not investment properties. The bank should short-sell these investment properties for additional cash flow.

Congress must enact a legislative bill to either repeal or amend the CRA to ensure that banks are allowed to institute their own lending practices without government intervention or NGO’s running interference under the pretense of affirmative action (quotas). Capitalism and socialism are like oil and water, they don’t mix well.

This simplistic method helps the Main Street using their OWN hardearned tax-dollars to help them stay above water. The price tag won’t be a staggering $700B dole out to Wall Street.

On October 1st, 2008 at 7:38 am, Netfest said:
There’s another issue that seems silly to me every time I hear it come up: the Student Loan lie.

A friend of mine is a FOREIGN NATIONAL with a green card. That person is having no problem with their current student loan.

On October 1st, 2008 at 10:25 am, Rogue Cheddar said:

Danny Noonan: I planned to go to law school after I graduated, but it looks like my folks won’t have enough money to put me through college.
Judge Smails: Well, the world needs ditch diggers, too.

Just doing the jobs that illegal aliens wont do anymore.

Speaking of…. hows that OUTFLUX of undocumented workers going? Which journalist is standing at the US border reporting on the trafic jams trying to get out of our country?

So let me look out my window again…. Nope, they are still out there weeding the flower beds.

the “Sonic can’t get credit!” scare story

Well, it just got worse. Sonic is the closet fast food establishment to where I live, so by default their get the bulk of my business. Or rather they used to.

They have tried to modernize their menu, of which 95% is not what I want from Sonic. But the quality of their food has been getting worse over the past few month. My breaking point was Monday night, when their “Extra Long Coney” (which I paid 2 or 3 dollars for) looked like a Slim Jim.

I would have had a better hot dog if I had gone to 7-11 at 4AM.

But I must say John McCain disappoints me just a little more every day-and he has been doing it since 1982. From “We are all God’s children so let’s abandon our own people” to “Reaching across the isle” and “My friends on the Left” I want to scream SHUT UP SENATOR, PLEASE!
His Friends on the Left trashed him this last week and the fool talks about “Not the time to fix blame”.

So if we are going to quote the Duke how about:
“Fill your hands you SOBs!”

A well regulated Militia, being necessary to the security of a free State, the right of the people to keep and bear Arms, shall not be infringed.
—-

“I ask, sir, what is the militia? It is the whole people, except for a few public officials.” -George Mason, 3 Elliot, Debates at 425-426.

And I have heard college costs are high BECAUSE of student loans. Universities have no reason to reduce costs as long as students have access to government loans. Maybe without the loans, the cost of going to college will come down.

Since my parents did HAVE a mortgage (back in the 60s) I couldn’t get a student loan, but I could work every summer(at CrackerJack) and make enough to pay my entire bill(tuition, fees, room and board) for the year. I use to hitch hike back home on weekends.

With the availability of student loans, tuitions and fees have gone through the roof. I have no real sympathy for the students today because they can take a year off if they have to to work for school expenses. If I did I would have gotten drafted.

I honestly think the best thing that can happen is for student loans to dry up. At least I was stuck with a big dept when I graduated (just 2 years of service