Who knows (not even me)? Read and see.
My sister-in-law (brother's wife) sent me a package of knitted things she made today. I got a pair of socks! K got a sweater and socks. N got socks. J got socks and a tutu-thing. We girls wore our knitted things to a Cub Scout pack meeting this evening. I did this because I thought my friend Suzanne would be there. Suzanne, like my SIL, is a knitting addict. I showed her my homemade socks. She showed me hers. She told me we had K's sweater on backwards. I told her J and K put it on. I had just thought that was the way the neck was.
I had a Jack and Coke tonight so I'm not totally coherent. It was just one, but I drink so rarely that I keep messing up my typing. I thought I'd kick back and relax after days of worrying about the economy.
I finally called my senators and representative and told them I didn't want a bailout of financial institutions by the government. It took me a long time to come to that conclusion, and I'm not 100 % sure it is the correct decision, but it is consistent with my thinking that the less the government does, the better. I also told them to make sure lenders can't be forced to loan money to people based upon race (which is what got this horrid snowball rolling). All credit should be color blind. If one racial group doesn't get mortgages as easily, that's just tough, as long as no one is denied mortgages or given poorer terms because of race. Race shouldn't matter, and credit should be for those who appear able and willing to pay it back.
I feel like the bailout plan is extortion. You must give us this huge check or you'll get a severe recession (code for depression). No one really knows if that would happen or if the bailout will prevent it. If you give out money now, who will be next? The auto industry? The airline industry? Other banks? Credit card companies?
3 Comments:
Australian bankers also need to stop lending money to people who can't pay it back..... no matter what race, colour or creed. It's happening here too but Kev reckons he's going to put a stop to it.
I hope we don't go down the same path in a year or two.
I hope Kev does put a stop to it. It seems to have taken off worldwide.
It only seems to work out as long as housing sales are up and the prices of housing continue to rise, so if one does have to foreclose, one can sell the home at a profit still and their aren't huge losses if the mortgage fails. With increasing prices, people can still take out a line of credit against their homes to afford their lifestyle because the value of their homes continues to rise, building equity they can tap faster than they are paying off their mortgage to gain the equity.
Hopefully you and your country don't have a lot invested in American financial institutions right now.
I was against the bailout too. It is unfortunate that it passed. It irritates me.
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