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09-28-2008, 08:33 PM #1
Who wins, who loses under proposed bailout plan?
Who wins, who loses under proposed bailout plan?
September 28, 2008 7:23 PM ET
WASHINGTON (AP) - The $700-billion financial industry rescue plan creates a lot of potential short-term winners, as well as some losers.
Wall Street and the banking industry are perhaps the biggest winners. They can start making loans again because the Treasury Department will start buying up their troubled mortgage-related securities.
If the bailout works as intended, there will be other winners, too: anyone trying to borrow money for cars or student loans, or even to open new credit-card accounts.
But top executives at troubled financial institutions are in the losing column because the proposal limits how much they can be paid and esentially rules out so-called "golden parachutes" when they leave.
Investors, including the millions of people who have 401(k) and pension plans, should benefit. Failure to reach a deal could have sent global stock markets tumbling.
But there's little help for homeowners faced with foreclosure or those who've lost their homes. And the plan won't help people whose houses are worth less than what they owe refinance or get an equity loan.
http://www.wqow.com/global/story.asp?s=9088070RIP Butterbean! We miss you and hope you are well in heaven.-- Your ALIPAC friends
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09-28-2008, 08:47 PM #2AprilGuest
WE LOSE!!! THEY STEAL OUR MONEY AND LEAVE US WITH NOTHING!!
NO WAY!!! NO BAIL OUT!!!!
TOGETHER WE CAN DO THIS!!!
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09-28-2008, 08:52 PM #3
"We the people have spoken loud and clear: NO BAILOUT! Congress is not listening.
RIP Butterbean! We miss you and hope you are well in heaven.-- Your ALIPAC friends
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09-28-2008, 09:42 PM #4Originally Posted by butterbeanProud American and wife of a wonderful LEGAL immigrant from Ireland.
The only thing necessary for the triumph of evil is for good people to do nothing." -Edmund Burke (1729-1797) Join our efforts to Secure America's Borders and End Illegal Immigration by Joining ALIPAC's E-Mail Alerts network (CLICK HERE)
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09-28-2008, 09:55 PM #5
Not sounding good at all.
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09-28-2008, 10:12 PM #6Originally Posted by vmonkey56Join our efforts to Secure America's Borders and End Illegal Immigration by Joining ALIPAC's E-Mail Alerts network (CLICK HERE)
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09-29-2008, 12:30 AM #7
I am exhausted. Any final word on this disgrace? Do they have a passed bill yet? I have been looking but nothing is clear if they passed it or not. If not, bright and early, I am camping out in my reps office.
Proud American and wife of a wonderful LEGAL immigrant from Ireland.
The only thing necessary for the triumph of evil is for good people to do nothing." -Edmund Burke (1729-1797) Join our efforts to Secure America's Borders and End Illegal Immigration by Joining ALIPAC's E-Mail Alerts network (CLICK HERE)
More Than Half Of US Voters Want Illegal Immigrants Rounded Up...
05-21-2024, 08:56 AM in illegal immigration News Stories & Reports