Bush wants Congress to OK billions fo...

Bush wants Congress to OK billions for Fannie-Freddie rescue

There are 292 comments on the www.chron.com story from Jul 13, 2008, titled Bush wants Congress to OK billions for Fannie-Freddie rescue. In it, www.chron.com reports that:

Alarmed by the sharply eroding confidence in the nation's two largest mortgage finance companies, the Bush administration on Sunday asked Congress to approve a sweeping rescue package that would give officials the power to inject billions of federal dollars into the beleaguered companies through investments and loans.

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Since: Sep 07

Location hidden

#287 Jul 17, 2008
Bleeding Heart wrote:
<quoted text>
Oh, I'm not a young person anymore. I graduated from college in 1994, and had my first child the next year. We decided that I would stay home to care for our children, so I consolidated my loans and took the payments over 30 years, to bring the years that I would be home down to an affordable payment. In stead of $400 a month, we would start out paying $80 a month, and as the years go by, the payments gradually get higher. My youngest child is 20 months old, so hopefully by the time she is in school, and I finally use my degree for a paying job, we'll be able to afford those graduating pyments. Imagine though, paying for my schooling STILL, when my kids go off to college. It is, however, a CHOICE we made. And we are paying, every month since 1995.
You're a young person to me - I graduated from college in 1968!

My kids graduated from college in 1992 and 1995. As a single parent, I worked two jobs and took PLUS loans to help them pay for school. They both worked - usually a couple of jobs and took loans. Both of them graduated cum laude from private colleges. My son is now a stay at home dad - he and his wife put off having kids for 10 years so they could get their master's degrees, pay off their loans and buy a house. Their kids are 6 and 4. He'll go back to work after the youngest starts first grade. My daughter didn't get married for 10 years, but bought a house and sold it for a big profit when she got married. Her first child is a year old and she just went back to work part time last week. Her loans are paid off as well. So are mine.(and now I work only one job and have re-married myself after being divorced for over 20 years.)

In my mind, you are exactly the kind of family that would benefit from having student loans paid off by the govt.

Since: May 08

Venus, PA

#288 Jul 17, 2008
Just another poster wrote:
<quoted text>
You're a young person to me - I graduated from college in 1968!
My kids graduated from college in 1992 and 1995. As a single parent, I worked two jobs and took PLUS loans to help them pay for school. They both worked - usually a couple of jobs and took loans. Both of them graduated cum laude from private colleges. My son is now a stay at home dad - he and his wife put off having kids for 10 years so they could get their master's degrees, pay off their loans and buy a house. Their kids are 6 and 4. He'll go back to work after the youngest starts first grade. My daughter didn't get married for 10 years, but bought a house and sold it for a big profit when she got married. Her first child is a year old and she just went back to work part time last week. Her loans are paid off as well. So are mine.(and now I work only one job and have re-married myself after being divorced for over 20 years.)
In my mind, you are exactly the kind of family that would benefit from having student loans paid off by the govt.
We definitely would, thanx. You have my vote, how 'bout running? LOL

“OUCH”

Since: Mar 07

Russell Springs, KY

#289 Jul 17, 2008
Just another poster wrote:
<quoted text>
You're a young person to me - I graduated from college in 1968!
My kids graduated from college in 1992 and 1995. As a single parent, I worked two jobs and took PLUS loans to help them pay for school. They both worked - usually a couple of jobs and took loans. Both of them graduated cum laude from private colleges. My son is now a stay at home dad - he and his wife put off having kids for 10 years so they could get their master's degrees, pay off their loans and buy a house. Their kids are 6 and 4. He'll go back to work after the youngest starts first grade. My daughter didn't get married for 10 years, but bought a house and sold it for a big profit when she got married. Her first child is a year old and she just went back to work part time last week. Her loans are paid off as well. So are mine.(and now I work only one job and have re-married myself after being divorced for over 20 years.)
In my mind, you are exactly the kind of family that would benefit from having student loans paid off by the govt.
Why is it,you want the government to pay off loans that you made?Why do you think they owe you something?I'm just curious,not trying to argue,just would like to know why..We don't need the government to raise us,they screw up everything they touch.

Since: Feb 08

Novi, MI

#290 Jul 17, 2008
Just another poster wrote:
<quoted text>
You're a young person to me - I graduated from college in 1968!
My kids graduated from college in 1992 and 1995. As a single parent, I worked two jobs and took PLUS loans to help them pay for school. They both worked - usually a couple of jobs and took loans. Both of them graduated cum laude from private colleges. My son is now a stay at home dad - he and his wife put off having kids for 10 years so they could get their master's degrees, pay off their loans and buy a house. Their kids are 6 and 4. He'll go back to work after the youngest starts first grade. My daughter didn't get married for 10 years, but bought a house and sold it for a big profit when she got married. Her first child is a year old and she just went back to work part time last week. Her loans are paid off as well. So are mine.(and now I work only one job and have re-married myself after being divorced for over 20 years.)
In my mind, you are exactly the kind of family that would benefit from having student loans paid off by the govt.
Sorry, but I disagree. I worked my way through college and did get some help from my parents. I do not believe that we should forgive student loans, but rather reduce the interest rate and monthly payments. Why should my tax dollars subsidize someone else's kids.

Since: Sep 07

Location hidden

#291 Jul 17, 2008
OLD LADY wrote:
<quoted text>
Why is it,you want the government to pay off loans that you made?Why do you think they owe you something?I'm just curious,not trying to argue,just would like to know why..We don't need the government to raise us,they screw up everything they touch.
My loans are paid off. So are the loans my kids took. I don't want the government to pay off anything I owe.

The post you missed was one where someone said if the Govt was going to bail out Fannie Mae (which held that person's student loans) he wanted them to forgive his student loans. BleedingHeart said "me too".

I said that I would support the govt paying off student loans as part of the next "stimulus package" because education was the best investment we could make in the future of America. And, the extra money put back into the hands of those currently paying off loans would probably be spent in ways that stimulate the economy.(kind of like the reasoning used to give wealthy taxpayers breaks on their taxes - the idea that they will put that money back into the economy and it would "trickle down" to the rest of us. Only here the money would "trickle up" )

Since: Sep 07

Location hidden

#292 Jul 17, 2008
jference wrote:
<quoted text>
Sorry, but I disagree. I worked my way through college and did get some help from my parents. I do not believe that we should forgive student loans, but rather reduce the interest rate and monthly payments. Why should my tax dollars subsidize someone else's kids.
Hey, I pay almost $5,000 a year taxes on my home. My kids left the local school system in 1988 and 1991. I've been subsidizing someone else's kids with my tax dollars since then, and will have to do that until I die. EVERYONE subsidizes other people and other people's kids with our tax money. It's part of being a community, a state and a nation.

I think, though, that lowering the interest rate on student loans is a good idea too. If it allows borrowers to maintain the same monthly payment amount yet pay off more of the principal so much the better - even a few dollars a month does make a difference.

I noticed that the deduction for tuition and fees is expiring at the end of 2007 - hopefully congress will restore that.

Since: Sep 07

Location hidden

#293 Jul 17, 2008
Bleeding Heart wrote:
<quoted text>
We definitely would, thanx. You have my vote, how 'bout running? LOL
I was President of the PTO back in the day. That's enough "public" office for me thanks LOL
Minnesota Mary

Mankato, MN

#294 Jul 17, 2008
Tooth4U wrote:
<quoted text>
Good! Now your targets. The influx of Hispanics is part of the breaking down of the economy . The king of spain lol already owns the interstate toll roads in Indy ana. Proceeds of the NAFTA Hwy will be going to Spain also. Hmm why?
Watch Kennedy enter the Kill zone.
http://www.youtube.com/watch?v =CLTS4eP0LTYXX
When Reagan took office......they took control.
http://www.youtube.com/watch...
And this to........
http://www.youtube.com/watch...
Exactly what I would expect from a retarded cat wearing a lime rind helmet.

“OUCH”

Since: Mar 07

Russell Springs, KY

#295 Jul 17, 2008
Just another poster wrote:
<quoted text>
My loans are paid off. So are the loans my kids took. I don't want the government to pay off anything I owe.
The post you missed was one where someone said if the Govt was going to bail out Fannie Mae (which held that person's student loans) he wanted them to forgive his student loans. BleedingHeart said "me too".
I said that I would support the govt paying off student loans as part of the next "stimulus package" because education was the best investment we could make in the future of America. And, the extra money put back into the hands of those currently paying off loans would probably be spent in ways that stimulate the economy.(kind of like the reasoning used to give wealthy taxpayers breaks on their taxes - the idea that they will put that money back into the economy and it would "trickle down" to the rest of us. Only here the money would "trickle up" )
Sorry,I did miss it,carry on!
Daniel

Port Royal, PA

#296 Jul 19, 2008
Ben Stien said that the subprime exposure is less then 1% of fannie and freddie........ How is 1% a crisis?

We shouldn't bail these people out. They won't learn there lesson if we do. Just keep using that credit card and buying a big house that is way out of your means........ What a country we have become......
JAMES ECUADOR

Quito, Ecuador

#297 Jul 27, 2008
The billions of dollars the fed is getting ready to give to neighborhood associations will be used to buy foreclosed properties. These will come from inner city housing units that people lost due to many reasons.Cleveland, ohio and Detroit, michigan are just two examples. The contractors should do very well on remodeling projects.I have seen work done in the past where contractors charged double the price for work done. The sad part is, it is everyones tax dollars that pay for this waste. I am sure it would be a lot cheaper to give the money to habitat for humanity and bulldose the old and start over.
beefman

Bellevue, MI

#298 Aug 4, 2008
Philo Beddo wrote:
<quoted text>
You're under the incorrect assumption that this has anything whatsoever to do with mortgage payers.
This is about nothing more than bailouts and assurance that senior executives get to keep their hundreds of millions of bonus money after running their company into the ground.
It's just more of the same Bush corporate welfare that has been strangling this country for almost a decade. But the sheeple will believe it when they're told that it's more of that world-famous Republican concern for the little guy.
Mark my words: Within a month, you'll see headlines about the CEO/CFO/COO of both Fannie Mae and Freddy Mac still getting eight-figure bonuses on top of their seven-or-eight-figure salaries and separation packages, despite the fact that they drove their companies into bankruptcy and operational failure.
yes, and this is being done to make things look better for the up comming election. i cant believe some of the things people are saying and how anyone could want more of this. blind faith i guess.

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