The rich get richer because the people allow them to do so. Do you honestly think they would keep making money if people didn't buy their products? No, they wouldn't. That is what capitalism is, you have the freedom to buy from other businesses if you want, but you wont cause it will cost you more money. Suck it up and roll with it, because it is the people that make the rich richer. That being said, I hate this bail out and it truly pisses me off.
You are supposed to have a 20% down payment in the US as well, you can get a federal loan for 5% on your first home much the same as canada. My opinion is these banks mad poor financial decisions, they should have to deal with them just like any other business. As far as the debate about Americans importing far more then they export this has been a problem since day 1 of the US being established. Americans were importing far more from Britain then they were exporting and relied heavily on others, it almost destroyed the Nation then and the situation hasn't changed much now except that we could actually be self sufficient if only we were willing to spend slightly more to do so. If you are worried about the economy spend the extra money to buy American and keep the money and the businesses we actually need and want to generate here instead of oversees. Sadly people are happier to save a couple bucks today then to invest in American business in order to keep companies here and ensure that American companies can compete with foreign producers in the long run.
I'm not sure how true what I'm about to say is, but I heard it in passing conversation (a.k.a. bus evesdropping). The people responsible for this mess (a.k.a. bank CO's, etc.) are getting paid to quietly walk away from this mess and retire? In the several millions of dollars (on top of what the already make)? That shit is including in the bailout bill?
You are partially right jenn. They dont have to pay for their own mistakes that they made, and they will continue to make an absurd amount of personal profit when they cost the country $700 billion. That sounds fair to me, how about you? >.<
Ok, so my new goal for future financial security goes thusly: Jack up a major corporation's finances, leave it in shambles and have the government pay my way to Aruba.
My goal for future financial security goes thusly: Jack up a corporation's finances, go buy a real estate firm in Aruba. I mean, might as well benefit from the rich's lack of morals.
That's the glory of corporate America. You get into a CEO or CFO position based on knowing the right people and kissing the right asses, rarely is it based off actual performance or ability. You then get into this big fat contract that says: If you fire me before my contract expires you then have to pay me 10x what I make. So basically if you do your job right you make a fortune in bonuses, if you do it horribly wrong you get fired and never get a good job like that again, or you get a better job if you blame it on the right people, but you make enough money from your golden parachute to retire. While everyone else in the world actually works for their money, corporate henchmen merely have to get fired.
When has Gruune ever censored himself? Anyway not everyone deserves a house if they obviously can't pay for it. Its just ridiculous that people who have crap credit can still buy houses and get credit cards which they obviously can't repay but for people with 750+ credit scores they can't get loans or credit cards because there is no money in people who can pay their debts. There is plenty of affordable temp/perm housing you can rent or lease, the fact is that people thought this splendid interest rate would last forever and were caught with their pants down because people can not be left to moderate their own spending or income. Was it the banks fault for not warning them that interest rates were bound to see a huge increase over the next 5 years or to monitor interest rates so they don't get screwed? Maybe but people who are irresponsible with their money, houses, and livelihood are equally responsible.
XOO has always been a politics free zone. We try to ignore drama and politics and religion generate more drama than anything else in the world. This is why the posts get reported, because they turn into flamefests because some people are too passionate about their views. Honestly, it is a good call, but I agree that it sucks that we cant talk about them.
It's best to pretend he's not there, children shouldn't be rewarded with attention for bad deeds when they are not your children. Anyway, drama.
a buddy of mine said his dropped by sometging like 6% and was expecting another 10% decrease I believe. Shit sucks big time