100 days

[Arkansas Red]

Unfortunately we lost our critiques about President Obama's first 100 days. Feel free to repost when you get the chance (I will when I am a little more sober).

P.S. Thanks Joe for remembering the Politics/Philosophy corner!

[negadave]

I don't really know much about politics and the economy. Out of curiosity, what would happen to peoples loans and mortgages if the government just let fannie may, freddy mac and all the other banks go bankrupt. Would you not have to continue paying on your loan but get to stay in your house? Other banks would just take over the loans right? So why the need to bailout the banks that are not doing well?

If i owed you $1000 and you die, who do i have to pay?

I know i sound pretty dumb right now, but i haven't heard anything on the news that really explains it.

The car makers too. I don't care if gm goes out of buisiness, i'll just buy another brand of car. I know people will lose their jobs. I'm a carpenter i build houses. There's no work out there for my company, but we're not getting a shitload of money handed to us so we don't go out of buisiness.

Maybe someone could clarify this for me.

[Derick]

in regards to morgages, banks dont hold morgages, they sell them to companies like freddie and fanny to remove that dept from thier books. If F/F failed, there would be other companies that would buy the AA rated morgages, but the issue is with all of those loans issued to people with bad credit and 100% financing would end up in forclosure. Do they deserve it, probably. The bailout part comes because there are so many people are took out these arms that they cannot afford to pay.