@Wilson
There are real people like you and me work for these banks. When the bank fails real people like you and me the majority of whom had absolutely nothing to do with this crisis lose their jobs.

It amazes me how everyone talks about “bank” or “company” that has to be penalized for their actions. A company is not a person who is guilty or innocent. A company may have some executives who made bad decisions, but guess what. They are the ones that suffer the least when the company goes out of business. They had plenty of chances to collect millions. The rest of the employees, both old and young, are those who suffer. And then we all suffer because our savings decrease in value and because unemployed people cannot afford to buy much, so other businesses suffer as well.

If you want to refinance your home and consolidate debt, now it’s the time. A group of private investors in los angeles California loan money to homeowners and real estate investors. These private investors also called hard money lenders are the bank.

Many of you tried to refinance with your local bank or a mortgage company in your area, but with no success. Now it’s possible again, but you have to know the conditions to qualify. You don’t need excellent credit score or great income documentation, but you do need a lot of equity in your property.

Hard money lenders have been around for a long time, but no body ever heard about them. Real estate investors and brokers were working with them for years, but homeowners didn’t know they exist. Today for many of us hard money lenders are the only hope to get a real estate mortgage.

Where can you find a hard money lender?

Many mortgage brokers and real estate agents are already in contact with one or two investors because of the fact that they just need them. If you will go online and look for a hard money lender, you will probably find a 100 private investors or more. You don’t need to get fanatic about it, you just need to know what they’re talking about.

How do you know who is the right investor for you?

Normally of course you need to go with gut feeling, but in this case you need to be a little more careful then that. There are many hard money lenders that you don’t want to work with. So what do you do? You ask questions. Here are some questions you will need to ask private investors when you call them:

1. The name of the company.
2. How long they’ve been in business.
3. Get some name of people they’ve worked with.
4. What are the interest rates they’re offering?
5. How many points they charge you.
6. Do they charge any due diligence fees, or any money upfront?
7. Are there any other fees included?
8. You want everything in writing from them, it’s very important.

You have to understand that you don’t deal with big corporations. Hard money lenders are individual like you and me, but they have few millions dollars in their bank account. They would love to help you as long as you offer your real estate as collateral.

Do you realize that the government actually MADE MONEY on Chrysler bailout? Whatever you think of GM management and their cars, from the taxpayers’ perspective Chrysler bailout was a good deal: as part of this deal government got then-worthless options in Chrysler stock that they sold at a nice premium when Chrysler rebounded.

You are also forgetting that there are real people like you and me working for Chrysler and, now, for these banks. These people had nothing to do with this crisis yet they stand to lose their jobs when companies fail.

Incidentally, this is Warren Buffett perspective:
http://www.cnbc.com/id/26866865

“The entire country would have to be unemployed for a year to “lose” this much money.”
If nothing is done, a lot of people will be unemployed for a lot longer than a year.

I think most people really don’t understand how serious this is. This is not like S&L crisis when only a subset of banks was affected. Most banks are affected. Last week there was an actual credit freeze between banks – no bank will loan any other bank money. Since banks (and other companies) don’t have piles of cash lying around, they depend on credit to pay people salaries, to pay the depositors who want to withdraw their money, etc. Then they repay it from cash flow. If there is no credit, and a company cannot meet its obligation “today”, it declares bankruptcy. Even if it has assets it could sell. Whatever you think of this bailout, the risks of doing nothing are far greater. I do suggest reading a bit about the Great Depression and especially about the bank crisis later on.

This IS the $700 billion question. Everyone on here is guessing.

I want proof.

The anticipated profits will be given to the banksters receiving the bailout.

In today’s hearing Bernanke said:
“I believe that under the Treasury program, auctions and other mechanisms could be designed that will give the market good information on what the hold-to-maturity price is for a large class of mortgage-related assets. If the Treasury bids for and then buys assets at a price close to the hold to maturity price, there will be substantial benefits.”

There will be no reverse auction. Paulson will buy the toxic papers at “hold to maturity price”. That’s why the three stooges don’t want any oversight, such that the banksters could dump their waste to the treasury at a “hold to maturity” profit.

There are too kinds of Americans: the free Americans, and the sheeple Americans. The sheeple enjoy the Ponzi scheme as long as they can make a sheep’s living at the bottom level(s) of the scheme. Upon hearing the scheme would collapse, they are more than willing to sponsor a bailout at the expense of their offsprings …

Just weeks ago, Paulson was touting our “sound and safe” bank system. I bet the sheeple must be happy upon hearing that statement:) Since it’s a safe and sound system, why worry about being unable to pull money out of the ATMs?

Just because Paulson says there are no alternatives, the banksters must be bailed out at tax payers’ expense? While the sheeple would readily believe whatever Paulson spouts, the free Americans are not as easily duped …

Maybe, but the government (and taxpayers) ended up with profits. As the result of Chrysler bailout, the government got their tax options. At the time they were worthless. After the company rebounded, the government made a nice chunk of money.

Also, it amazes me how everyone talks about big companies as about abstract entities. Maybe management at Chrysler continued to be stupid, but the employees at Chrysler kept their jobs.

We work for companies. We do our best, but most of us don’t participate in the type of decisions that caused this crisis. Yet when companies fail, it is the employees that suffer.

Oh, and how will FDIC get its money after its reserves run out? By asking banks to pay more – but it would take time to replenish the reserves. So, it’ll still be our money either way.

Also, fewer companies, fewer employed people = less money collected in taxes.

The entire country would have to be unemployed for a year to “lose” this much money.

“This massive bailout is not a solution. It is financial socialism and it’s un-American,” said Sen. Jim Bunning, R-Ky.