How can you tell Paulson's idea is completely dumb?
You can tell because a random real estate broker with no banking experience came up with an also-dumb idea that was, for all its stupidity, a better idea than Paulson's in a couple of days.
My idea finances 20% of the borrowing in the US for a year, and makes us $86.6 billion per year to pay back the taxpayers in 8 years. It rewards the top 58% of borrowers in the country.
I don't know how much you're following the news of the bailout of wall street banks who repackaged bad loans, but if you're not, now is a great time to get involved and please, please call your elected representative and tell everyone you can about this incredible fiasco.
Hank Paulson, Secretary of the Treasury, and George Bush are asking Congress for the authority to spend up to $700 billion at a time (that's a balance sheet maximum, not a maximum on the total the government can spend). That's more than the total cost of the War in Iraq so far. The Treasury will spend it buying bad loans, and get no equity stake in the firms they're buying them from -- leading some to call it "cash for trash".
Section eight of the proposed legislation gives Paulson an oversight-free blank check as to how to spend that much of your money.
Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency.
Although as you might expect, public opposition to the plan is strongest among Democrats, several prominent conservatives have also gone on record as being opposed to the plan. This legislation is so bad that even CNN gets it.
Please look up and either write to or phone your Senator and House Representative right away. You can learn more about the proposal by clicking through on the articles current on Digg for Business and Finance.
Congress is in a HUGE RUSH to get this done, so those of us who think it's expensive, ill conceived and leaves us stuck holding the bill need to MOVE NOW to express our concerns to Congress.
Tired of typing that registered trademark symbol on the r-word every few minutes? I know I was.
This plugin fixes it, for Wordpress Users. Just type the word, lower case or upper, and the trademark appears by plugin magic. You'll need basic knowledge of how to install a Wordpress Plugin, or someone who does, but other than that it should be fairly straightforward.
It didn't work. Maybe ActiveRain wants me to have free content. 200 points please.
June 16th, 2008
Hey BROKERS and AGENTS!!! Learn how to Quadruple your listing database by making offers to BUY Houses...If they do not except your price and terms... YOU WILL GET ALL THE LISTINGS.
Take new media marketing to the next level! Sep 19-21 in Las Vegas. Register for RE BlogWorld by June 19 and save $200. RE BlogWorld
Featured Video
How much business does blogging really attract? Kris Berg, a Prudential real estate broker and blogger based in San Diego, shares insight into how blogging has worked for her, how she approaches it, and how she keeps her mind grounded in the fact that real estate is still a relationship business.
Todd is a machine. He blogs while driving (he uses a device that he speaks into that converts his words to text, so don't get any crazy ideas). His blogging efforts have helped catapult his business to a higher level. Check out his blog for some great ideas on how to target consumers because Todd seems to have it figured out.
This a group of ActiveRain members who are working together to earn more business. The group is focused on helping it's members create posts that target their local communities. This group is hands on so if you plan on joining, we suggest you come ready to learn and be eager to share the nuances of where you live with the world.
Finishing up our series of Roseville Market snapshots (for now -- anyway -- we may have an aggregate market update for Roseville available soon), here is a snapshot of market data for West Roseville (95747) for May, 2008. This snapshot reprinted by permission from the Roseville Real Estate Blog.
This Central Roseville real estate market snapshot is reprinted by permission of the Roseville Real Estate Blog. It covers the period of May, 2008 with inventory figures as of June. This report is based on MLS data and covers Roseville 95678.
This market snapshot covers the period May, 2008 for East Roseville, California (95661). Reprinted by permission from http://www.rosevillehomesandland.com.
ParticleWave.com is pleased to be the host of the first ever Houssee Award, so those of you who signed up and sumbitted blog posts or other news may find that you have won THE SHIRT.
For those of you who didn't, weather permitting we'll have more Houssee Awards from time to time, so there's still time to ammend your shirtless ways. Just go over and sign up and start submitting and voting for your favorites.
Remember, a lot of people come to the end of their lives and find they don't regret the time they didn't spend with their families and loved ones, but looking back they'd wish they'd spent more time submitting their blog entries to Houssee.com so they could win a picture of a tee shirt.
Elite Properties in Sacramento is a locally owned independent real estate company brokerage dedicated to providing an outstanding level of service to our buyers and sellers, all of whom are elite in whatever price range.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
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