Quoting Post Archived Topic: It will not be bumped to the top of the forum. Topic Bailout? wha? Membername   Not a member? Sign Up Free (takes 20 seconds) Password   Forgotten your password? Post Font: Verdana Arial Black Georgia Comic Sans Impact   Size: Tiny Normal Big Huge   Color: Default Dark Red Red Orange Brown Green Olive Cyan Blue Dark Blue Indigo Black [ Check Spelling ] [ Post Preview ] [ LiveTags ] Quote: from Anonymous at 10:44 pm on Oct. 6, 2008[quote]does anyone feel like telling me, in lamens terms, what all this stuff is about with wall-street and a bailout and going into a great depression. I don't really keep myself up-to-date on current events.[/quote] FAQ Keyword Search: Post Options Favorites Manager Notify me of new replies to this topic by email Notify me of new replies to this topic by private message Original Post Anonymous Posted at 10:44 pm on Oct. 6, 2008 does anyone feel like telling me, in lamens terms, what all this stuff is about with wall-street and a bailout and going into a great depression. I don't really keep myself up-to-date on current events.

Replies Forever Angel Posted at 8:37 am on Oct. 7, 2008 Quote: from xsharpi at 12:47 am on Oct. 7, 2008 Quote: from Forever Angel at 11:46 pm on Oct. 6, 2008 A quick summary... the Democrats fucked up now America (and the civilized world) will be paying the bill. Both Democrats and Republicans fucked up. FDR (a Democrat) created Fannie Mae. LBJ (a Democrat) privatized it. A Democratic Congress created Freddie Mac. And Clinton (a Democrat) set up the circumstances for the dominoes to fall. And now they have. hi sarah Posted at 4:58 am on Oct. 7, 2008 Quote: from Anonymous at 3:53 pm on Oct. 7, 2008 Quote: from roflfuckyou at 12:46 am on Oct. 7, 2008 the banks lend to people who can't pay back and so they're in debt and now the government is paying 800 billion to give to the banks to get them out of debt    it's actually really stupid and bailing the banks out will do nothing good    and if they didn't bail them out then that would be bad too so why did they decide that at $800 billion, maybe it was time to ask the government for money? I mean, don't ya think at like... $200 billion, maybe they should have said "hmm, we probably shouldn't give out any more loans" no the government decided 800 billion, it's actually around 10 trillion their in debt but the government would only give 800 billion. a lot isn't their fault, like it costs something around 10 million a week for the war in iraq and its banks jobs to lend money, thats why theyre there Savior Posted at 11:01 pm on Oct. 6, 2008 Ok you don't get it so I'll explain. People wanted banks to give them loans that they couldn't afford. Banks tell them "It's cool, bro. Housing prices are going up so we'll lend you the money with low interest up front then in a few years the house you buy with it will be worth more so you can sell it, pay off the loan and everyone's happy". This part's important. The banks then sold these debts to OTHER PEOPLE up front while misrepresenting how risky they were. That worked for a while until the housing market collapsed and people were left with loans they couldn't pay off and the system was left with a bunch of bad debt. And because the debts were sold to third parties it's impossible to sort of which debts are good and which aren't which shakes confidence in the whole system. Anonymous Posted at 10:53 pm on Oct. 6, 2008 Quote: from roflfuckyou at 12:46 am on Oct. 7, 2008 the banks lend to people who can't pay back and so they're in debt and now the government is paying 800 billion to give to the banks to get them out of debt it's actually really stupid and bailing the banks out will do nothing good and if they didn't bail them out then that would be bad too so why did they decide that at $800 billion, maybe it was time to ask the government for money? I mean, don't ya think at like... $200 billion, maybe they should have said "hmm, we probably shouldn't give out any more loans" stl man Posted at 10:48 pm on Oct. 6, 2008 the american government was bullshit from the start Savior Posted at 10:47 pm on Oct. 6, 2008 Well it all started with a guy called Reagen.. Lady Catastrophic Posted at 10:47 pm on Oct. 6, 2008 Quote: from Forever Angel at 11:46 pm on Oct. 6, 2008 A quick summary... the Democrats fucked up now America (and the civilized world) will be paying the bill. Both Democrats and Republicans fucked up. switchfoot52 Posted at 10:47 pm on Oct. 6, 2008 read about the depression of the 1930/1940's and u'll understand OverTheAir Posted at 10:46 pm on Oct. 6, 2008 Google baby. Forever Angel Posted at 10:46 pm on Oct. 6, 2008 A quick summary... the Democrats fucked up now America (and the civilized world) will be paying the bill. hi sarah Posted at 10:46 pm on Oct. 6, 2008 the banks lend to people who can't pay back and so they're in debt and now the government is paying 800 billion to give to the banks to get them out of debt it's actually really stupid and bailing the banks out will do nothing good and if they didn't bail them out then that would be bad too matthewww333 Posted at 10:46 pm on Oct. 6, 2008 that would take so much time.... go watch the news =] if so fox cuz msnbc and cnn are both not talking about the bailout right now... but yea Baron Samedi Posted at 10:45 pm on Oct. 6, 2008 You know how magicians want you to focus on one hand so you don't pay attention to what they're doing with the other? Same concept. Lady Catastrophic Posted at 10:45 pm on Oct. 6, 2008 We borrowed money from China so people don't lose their homes... All 14 previous replies displayed.