The Bailout: What It Means for Consumers

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hey mr president what about the poor people I did see a stimmulate package for the poor people who can not get loans or credit cards or do we get loose out on the 700 Billion????????????

Earl Gardner of ME 5:10PM October 15, 2008

I see NO mention of INFLATION here Kimberly. Do you think they can just pull this money out of a hat? Fact is, they must either borrow(China) or print the money because the US is technically bankrupt. Already in debt 10 TRILLION dollars, with NO possible way to pay it back. So Kimberly, why aren't these facts mentioned in your naive article?
She also neglects to mention that they are borrowing OUR money to MAYBE loan back to us. Does anyone see something FUNDAMENTALLY wrong with this picture? Does the word CARPETBAGGER spring to mind?

USSA of FL 5:06PM October 15, 2008

The bailout is not helping the American citizens, if you already have a home, you don't need to buy one, what is this doing for the homeowners who because of the situations are behind in their payments, not only homes, but credit cards also. The credit card companies raise your interest rate if you are one day late (so it is like your debt will never be paid). What doesn't make sense to me is that if they keep raising the interest rate, the bill will never be paid, of course they will make more money off of you but now people are becoming more savvy and leaving them alone (so they won't make any money at all). This recession has made people more aware of their OWN money and using it to their advantage. Once you realize that if I can't pay cash, I just don't need it and getting family and friends involved the same way sure helps a lot. This bailout is not for your MAJORITY AMERICANS.

of GA 5:05PM October 15, 2008

What about all the people who had okay credit when this whole thing started but was lied to and was told you only qualified for interest only. Then when you realized later to find out when you try and refinance to a better loan your home is no longer worth the inflated price they said it was worth. Now because you home costs are so high your strugling with your bills and everything else which makes your credit worse. So all the people that had that happen to them you just say screw them? People we are bailing out the wrong people. The middle class and the poor is who runs this country and we are getting screwed. If they make it harder to get a loan now those same people they lied to will never be able to either get out of there home with not a dime and they will not be able to purchase another home even at a lower more affordable price. It is not right. Think of all the people who lost there jobs they dont deserve to get messed over again by loosing everything!!

Penny of CA 11:25AM October 15, 2008

Is it really that difficult to understand why middle class Americans have all but stopped buying? The country send all the good paying jobs to other countries because there it can be
done for farless, not that they produce better quality products than Americans. Americans salaries do not keep pace with the cost of leaving which has gone through the roof and they are constantly being taxed for this and increasing taxes for that,what have you produced? A broken disapearing middle class,cheers to you you have succeeded.

mike of CA 1:44AM October 15, 2008

I always wanted to believe in a government who cared more about the people than their own pockets. When I look at the big picture I ask myself one question, "How do you fix a money problem by adding more money to it"? - Do you add more wood to the fire to put the fire out?... Come on the whole reason we are in this mess is becuase the Federal Govt didnt do their job, they made it too easy for consumers to borrow money.
I guess when I see $700,000,000,000 I see alot of zeros, kind of like our government. Nevertheless, that is alot of money that could be put towards our healthcare system, education, clean energy, our childrens futures, retirement programs, etc. Things that will in the long run improve and support the countries economy, right now we have no backbone.
We need a backbone for our economy, country, and for our future.

Steve of CA 6:57PM October 14, 2008

Retirement accounts have lost $2 trillion - can I get at least my money back?
Nobody is talking about it
will somebody bailout my 401k?

very Old of FL 4:09PM October 14, 2008

I hear about help, what if you own your own buisness and your credit score is not that great. what bank what lender would lend to me. how does the regular consumer make it. who will help what kind of funding can us poor people get.my buisness has declined no one is spending money how do we pay bills to get or keep what score we have. who will help!!!

Mrs. Gregg of NC 3:37PM October 14, 2008

why not give the 700 billion to the people that are not able to keep up on their mortages.they would be able to make their payments & NOT default. if the problem is massive loan defaults,problem solved.

CE.Simmons of AR 9:11AM September 30, 2008

I am of two minds on bailouts.
Yes, I have a charitable heart and believe that if you can help someone in genuine need, then by all means it is your duty to do so.
But I also do not believe in enabling losers by rewarding their bad behavior.
As others have stated, we taxpayers would be bailing out 'financial experts' - who are supposedly far better at knowing the ramifications of short-sighted/greedy thinking and shady, high-risk ventures than anyone else. That we as a nation have come to this point is disturbing on a lot of levels.
Which one of these shysters just fired one CEO and hired another with a signing bonu$ that would take many of us a lifetime to earn by actually working?
Wouldn't it be sweet if they had to pay us all back for bailing their butts out? Maybe they would work smarter. Ha.

Cranky Old Batt of CA 1:22PM September 29, 2008