Want some bail out money? - Buy a Bank

[chris]

The wonders of the US Govt bailout never ceases to amaze me and especially the big corporates who'll profit by it.
I was reading an interesting article in the Orlando Sentinel today about the Hartford Insurance company. They are in for quite a few million in losses because of the current economic toilet bowl and want some of the billions from the govt's bank bailout. Problem is they are not a Bank, they are an insurance company.
Their answer is to buy a bank. They are looking to buy a small Florida Bank that is struggling. It's going to cost them about $10 million to buy it. That will then allow them to tap into the big bailout money and they are looking for between 3 and 4 BILLION dollars. It looks they will get it, according to the article.
Nice work if you can get it!!!
Meanwhile the average Joe mug in the street is getting pummled daily.

[anniefromessex]

Welcome to the world Chris.

Over here, even after the Bank bailout, there are thousands of people who are going through the problem of reposession but even when you are laid off/made redundant and you phone these Companies up (which they advise you to do) nobody gives a sh..!!! 9 times out of 10 they have been bailed out with OUR money, but when it comes to helping these people they turn a blind eye - omg do I feel sick or what?!!!

Love Anniexxx

[byjove]

There is going to have to be a period of debt forgiveness, or everyone will go under except for the mega rich. It is turning into a global depression, spiraling out of control. Someting has to be done at the lower end of the scale, not the higher end.

[Susie]

The wonders of the US Govt bailout never ceases to amaze me and especially the big corporates who'll profit by it.
I was reading an interesting article in the Orlando Sentinel today about the Hartford Insurance company. They are in for quite a few million in losses because of the current economic toilet bowl and want some of the billions from the govt's bank bailout. Problem is they are not a Bank, they are an insurance company.
Their answer is to buy a bank. They are looking to buy a small Florida Bank that is struggling. It's going to cost them about $10 million to buy it. That will then allow them to tap into the big bailout money and they are looking for between 3 and 4 BILLION dollars. It looks they will get it, according to the article.
Nice work if you can get it!!!
Meanwhile the average Joe mug in the street is getting pummled daily.

It amazes me how these big corporations have the b---dy cheek to ask for hand outs.

All the car companies have their begging bowls out too.


Perhaps we should all write to Mr President to ask for a economic bail out interest free loan ?

[Susie]

There is going to have to be a period of debt forgiveness, or everyone will go under except for the mega rich. It is turning into a global depression, spiraling out of control. Someting has to be done at the lower end of the scale, not the higher end.


I hope so, then I can not worry about paying my debts!

If nothing is done soon I fear it will be too late for many to recover

[grumps]

if you take the 700 billon bail out and share that with every man woman and child in the usa each person would receive $35-000 and if you only gave it to those with mortgages it person would receive between $200-000 and $300-000. that would help clear the dept. or if they just gave all mortgages owners a very low intrest rate then they would not have to have 700 billon bail out.

[Kriz1]

I can't understand why we can't have a fixed 3% for everyone...we have that right now...for the next 4 years...and its a God send...

[InnVic]

Just got back from vaction - partly ruined by 300 folk from GM on a company junket(we voted with our feet after two days and moved to another resort).......sickening really to witness these drunks partying as their bosses sit in Washington with their hands out. It must be really hard not knowing where your next Lear jet is coming from!

[Susie]

if you take the 700 billon bail out and share that with every man woman and child in the usa each person would receive $35-000 and if you only gave it to those with mortgages it person would receive between $200-000 and $300-000. that would help clear the dept. or if they just gave all mortgages owners a very low intrest rate then they would not have to have 700 billon bail out.

I say Grumps for President, :):rofl::rofl::rofl:

[Susie]

I can't understand why we can't have a fixed 3% for everyone...we have that right now...for the next 4 years...and its a God send...

Shall I call my mortgage company and tell them you said they should do it? Wonder if they will listen to me ? :)