Gothamist: Fed Unveils $800 Billion Plans to Buy Mortgage, Consumer Debt

cella

Tue, 25 Nov 2008 11:37:35 -0500

JMH: if you aren't effected directly by the mortgage, banking, insurance, financial boondoogle then you should consider yourself pretty lucky. This will generate money back to the banks (albeit double if you give some to the cnsumer to pay back their debts), get everyone back on their feet again, and generate some life to the economy.

JMH

Tue, 25 Nov 2008 11:27:42 -0500

What's that $200B for consumer debt going to do for me? (Nothing, I assume, but it can't hurt to ask.)

throwcomputer

Tue, 25 Nov 2008 10:57:02 -0500

give them bailout money then pay off their customers debts. what does that equal? double bailout for the banks. just help customers get out of debt and those banks wouldnt require their initial bailout.

S.D.

Tue, 25 Nov 2008 10:47:27 -0500

Hey, they can buy off my mortgage, I'll volunteer!

Jesq

Tue, 25 Nov 2008 10:19:34 -0500

Throw more money at it. That's always the answer.

ides_of_march

Tue, 25 Nov 2008 09:40:46 -0500

If you picked out 100 random mental patients from Bellevue, they'd do a better job of running the country or any of the major corporation.

cella

Tue, 25 Nov 2008 09:36:40 -0500

I sort of like this whole deal. for whtever reason, I'm breathing better right now! yes, i'm a broker, yes, i have been struggling, yes, I hold a mortgage, yes, ive lost tons in the market already...but yes, I like this idea.

NannyState

Tue, 25 Nov 2008 09:34:21 -0500

This is why they already spent $350 billion on banks and it was a disaster.(Bank of America took its $25 billion and bought 19% of a chinese bank, for example)Now comes this direct interjection. Capitalism is dead. Long live "Capitalism".