Saturday, March 20, 2010

Bailout tracking

So, the bailout better known as The Emergency Economic Stabilization Act of 2008 originally projected to dump 700 billion dollars of virtual cash into the auto industry, banking, and mortgage industry to keep the depression at bay has "only" had to pay out roughly 109 billion so far.
Although many banks and businesses have realized that they don't want the FED on their board, and don't want the scrutiny that comes with owing uncle sam (tom?) money- AIG still wants more. http://www.marketwatch.com/story/geithner-paulson-defend-182-bln-aig-bailout-2010-01-27


Apparently, we're showing signs of economic growth, and many companies are paying back the money loaned to them. I guess I just wanna know why foreclosures are still a problem if everything is ok?
I mean, since everything is fine then we should be done with foreclosures for a while, right? 
Someone has to know the "number." someone's got to know exactly what it would take to keep another forclosure from happening (say-over the next 2 years?) . What I think is that since big biz has been bailed out, and it is becoming unpopular on the hill to incur more debt- we're just going to forget about all those overpriced loans and let more people lose their homes.
Don't get me wrong, I'm not a fan of gov handouts, and I don't think our government should go any further into debt than it needs to- but I just want to know where the money went- and why we feel like everything is ok now.
http://latimesblogs.latimes.com/money_co/2010/03/fed-bailout-details-banks-bloomberg-court.html

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