Government bailout thread?

[Jogeephus]

Thank God it did not pass. :banana: :banana: :banana:

Why? Because of this little bit of pork they stuck in there the day before the Jewish New Year.

http://arkansasgopwing.blogspot.com/200 ... ilout.html

When the smoke clears I think its going to be interesting to see whether or not that put some people on the mat about this. Afterall, for the last two years congress led a inquisition on steroid use in professional athletes. I just wonder if they are going to deem this worthy of their time.

 

[RD-Sam]

Would a credit union or a federal credit union be a safer place to put your money, rather than these big banks that keep going under?

 

[HerefordSire]

Would a credit union or a federal credit union be a safer place to put your money, rather than these big banks that keep going under?

Generally, just make sure the account(s) and the total amounts in the accounts are FDIC insured. In today's time, these banks vanishing happen overnight so I wouldn't think it would be possible to determine which had more risk than another.

 

[TexasBred]

Would a credit union or a federal credit union be a safer place to put your money, rather than these big banks that keep going under?

I guess some of us in small towns have some advantage. We know the bank president, have a drink with him occasionally and he knows everyone would hang him if he ever let this happen to the community. Heck they're so small town they still print a statement of condition for the public. Very stringent underwriting guidelines and very few delinquencies and probably not a foreclosure in 2-3 years and only a handful of repo'd cars.

 

[Jogeephus]

Would a credit union or a federal credit union be a safer place to put your money, rather than these big banks that keep going under?

I guess some of us in small towns have some advantage. We know the bank president, have a drink with him occasionally and he knows everyone would hang him if he ever let this happen to the community. Heck they're so small town they still print a statement of condition for the public. Very stringent underwriting guidelines and very few delinquencies and probably not a foreclosure in 2-3 years and only a handful of repo'd cars.

Sounds like my favorite bank. Know everyone and everyone knows me. They are very conservative and their stock is worth a bundle.

 

[skyline]

Would a credit union or a federal credit union be a safer place to put your money, rather than these big banks that keep going under?

I guess some of us in small towns have some advantage. We know the bank president, have a drink with him occasionally and he knows everyone would hang him if he ever let this happen to the community. Heck they're so small town they still print a statement of condition for the public. Very stringent underwriting guidelines and very few delinquencies and probably not a foreclosure in 2-3 years and only a handful of repo'd cars.

Father in law was asking me about that this weekend. He was about to close out his accounts with one of the big national banks. I steered him toward our locally owned bank and credit union. I have accounts at both places and have been very pleased. I used to be at one of those big national banks years ago. Absolutely no customer service. We were in the middle of building a house and my loan officer left the bank. The new loan officer's secretary called me and starting changing all the rules in the middle of the game. Kinda ticked me off. I left the bank shortly thereafter. (Full disclosure - my wife was extremely pregnant in the middle of building that house. Lots of stress. It didn't take much to tick me off during that period of my life. :lol: :lol: )

 

[ga. prime]

I guess local banks didn't fall victim to the unbelievably disgusting ACORN extortion conspiracy.

 

[TexasBred]

I guess local banks didn't fall victim to the unbelievably disgusting ACORN extortion conspiracy.

Ga...ask my banker about "acorn" and he'll probably start telling you about his oak trees. Well managed banks can still be meet the needs of the community, give great customer service and invest excess liquidity in very low risk investments and turn a nice profit. Guess greed hasn't hit a lot of them yet AND they actually operate with a Board of Directors rather than simply a Board of Approval that rubber stamps everything for fear of not getting their director's fee.

 

[backhoeboogie]

Does anyone remember the Y2K panic? This is starting to remind me of those crying wolf at that time.

 

[ga. prime]

Sure I remember the Y2K panic. To show my concern I spent that whole New Years' weekend in the middle of the Okefeenokee swamp.

 

[Brute 23]

It is a big hysteria created by the media and the Bush people.

There are alot of things being talked about that will not put us in debt $700 Billion dollars such as doing away with capital gains tax, the fed. gov. matching 401Ks, tax cuts if you invest in re-newable resources, ect... that would bring stability and money back into the market.

Those companies made bad choices and need to go down.

 

[V_Key]

Wild Horses
Link:
http://www.blm.gov/wo/st/en/prog/wild_h ... sheet.html

In Fiscal Year 2007, the BLM spent $38.8 million on its wild horse and burro program; the cost for holding wild horses and burros in short- and long-term facilities was $21.9 million, meaning holding costs accounted for more than half of what the BLM spent in Fiscal Year 2007 on its total wild horse and burro program.
In the current Fiscal Year (2008), holding costs will exceed $26 million, accounting for three-fourths of the Fiscal Year 2008 congressional appropriation to the BLM of about $37 million. This level of funding is not sufficient to support summer removals from the range while maintaining lifetime holding for older unadopted animals. To continue its current removal and holding practices, the BLM would need for its total wild horse and burro program: $44 million in 2008, $58 million in 2009, $65 million in 2010, $74 million in 2011, and $77 million in 2012.

 

[TexasBred]

It is a big hysteria created by the media and the Bush people.

There are alot of things being talked about that will not put us in debt $700 Billion dollars such as doing away with capital gains tax, the fed. gov. matching 401Ks, tax cuts if you invest in re-newable resources, ect... that would bring stability and money back into the market.

Those companies made bad choices and need to go down.

Like it or not it does exist. Some may be hysterical when they can't borrow the money to make payroll, etc. A lot of good people are losing money too..This won't cure anything but you gotta start somewhere. Like it or not, if it doesn't pass I think you'll see some major meltdowns quickly and none of us are 100% immune.

 

[backhoeboogie]

none of us are 100% immune.

You don't have to be all that bright to shine above it when everyone else seems fairly dim.

 

[1982vett]

Wild Horses
Link:
http://www.blm.gov/wo/st/en/prog/wild_h ... sheet.html

In Fiscal Year 2007, the BLM spent $38.8 million on its wild horse and burro program; the cost for holding wild horses and burros in short- and long-term facilities was $21.9 million, meaning holding costs accounted for more than half of what the BLM spent in Fiscal Year 2007 on its total wild horse and burro program.
In the current Fiscal Year (2008), holding costs will exceed $26 million, accounting for three-fourths of the Fiscal Year 2008 congressional appropriation to the BLM of about $37 million. This level of funding is not sufficient to support summer removals from the range while maintaining lifetime holding for older unadopted animals. To continue its current removal and holding practices, the BLM would need for its total wild horse and burro program: $44 million in 2008, $58 million in 2009, $65 million in 2010, $74 million in 2011, and $77 million in 2012.

Citizens of some countries like to eat horse meat, (not sure about burro). It would be nice if this country had a processing plant that could pack the meat and ship it to countries that could make use of it instead of letting a resource go to waste. :shock:

 

[1982vett]

It is a big hysteria created by the media and the Bush people.

There are alot of things being talked about that will not put us in debt $700 Billion dollars such as doing away with capital gains tax, the fed. gov. matching 401Ks, tax cuts if you invest in re-newable resources, ect... that would bring stability and money back into the market.

Those companies made bad choices and need to go down.

Like it or not it does exist. Some may be hysterical when they can't borrow the money to make payroll, etc. A lot of good people are losing money too..This won't cure anything but you gotta start somewhere. Like it or not, if it doesn't pass I think you'll see some major meltdowns quickly and none of us are 100% immune.

Yep, and they porked it up to 850 billion to try to get it to pass. Oink Oink. Shoulda had it last week for 700 billion. :dunce:

MIght as well try it. Not much difference than cities giving tax abatements and confiscating land to give to a business to locate in their realm. O well, Alcoa just laid off 660 workers at it's Rockdale plant.

 

[skyline]

It is a big hysteria created by the media and the Bush people.

There are alot of things being talked about that will not put us in debt $700 Billion dollars such as doing away with capital gains tax, the fed. gov. matching 401Ks, tax cuts if you invest in re-newable resources, ect... that would bring stability and money back into the market.

Those companies made bad choices and need to go down.

Like it or not it does exist. Some may be hysterical when they can't borrow the money to make payroll, etc. A lot of good people are losing money too..This won't cure anything but you gotta start somewhere. Like it or not, if it doesn't pass I think you'll see some major meltdowns quickly and none of us are 100% immune.

Yep, and they porked it up to 850 billion to try to get it to pass. Oink Oink. Shoulda had it last week for 700 billion. :dunce:

MIght as well try it. Not much difference than cities giving tax abatements and confiscating land to give to a business to locate in their realm. O well, Alcoa just laid off 660 workers at it's Rockdale plant.

That is really going to hurt that area. Sorry to hear that.

 

[1982vett]

It's been a brewing for some time. I don't think current monetary conditions had much to do with it other than they can probably make more by selling their contracted power than using it to smelter aluminum. A lot of people in the area worked their at one time or another.

 

[backhoeboogie]

This is the worst of times to lose a job, with all the scare out there. It may be worse of a time than when I was laid off in '85.

The nuke industry may blow wide open. It has been a dying industry for 30 years. Zachary is San Antone is staffing up for construction. They may try that. The new generation plants are going to be totally different than the old. It is going to be a matter of learning everything all over again. Good craftsman or technicians could transfer and be an asset.

 

[novatech]

I have lost 7 signed contracts resently. This may put me under. It really doesn,t bother me a lot personelly but feel sorry for the people that work for me. I made it through the oil crunch like many others and will adapt again. I know something needs to be done to help with the economy but rewarding those big executives by letting them keep their jobs just rubs me the wrong way. They need to know what it is like to suffer like the rest of us.
I worked at Alcoa in Rockdale and can tell you that most of the people there come from an ag. background and are still very involved with it. Many will be forced to sell out of old family property used for cattle.