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Maybe because we were right lol, it has

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DERBENSKI   Tuesday, 02/24/09 12:00:18 PM
Re: Wayne R post# 87
Post # of 90 
Maybe because we were right lol, it has all come to pass. There is not enough money in the world to bail out this mess. If you took all of the foreign exchange reserves that were not denominated in USD and bought treasuries it might get us by another year.... We have a year or two before it all falls apart. Right now they are stalling to spend the money, only 107 billion of the stimulus gets spent this year, 236 billion the next.

That is just the stimulus bill, does not count the impending bank bailouts which is where the real cost are going to be. The debt markets themselves will not be able to sop up the mess. The new Obama homeowner bailout mortgage mod plan will be fixed at 105% Loan to value which means that the primary states that have foreclosure problems will be left out!

This is typical of all the proposed bailouts which is that there is always some little issue that keeps the money from being spent. We now have 100's of billions of bailout programs that people will not qualify for or are bad deals that people will not take. Congress throws out a big number which makes it look like they have it under control but when you scratch below the surface they can't spend the money!

In short, all the bailout programs for homeowners are fake and will help few. This has been common practice so far.


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