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[hard10]

I believe there will be yet another wave...  I haven't heard nor seen any mention of these loans out there and I have a very bad feeling that in a few years we will be seeing more about those in the news also.  Just one more obstacle to completely clean up the housing market and extend the period for complete stabilization or some reasonable facsimile.

What is going to happen in 10 - 15 years when these new "reverse mortgages" start hitting? These are government insured and are marketed to the elderly. As that part of the population dies, there will be even more houses in the supply with paper attached to them. I see these as a huge problem in the future. 

[bobby0]

I never posted but I have been an avid reader for years. I was compelled to sign up to post because of the economic situation. I own a medium size meat processing plant in Chicago. Fourty years in the business. I have been rideing Harleys for over 50 years. But what I really want to express is my disgust in our government leaders, and top executives of our country. Whatever you hear about who got us in this mess the Republicans or Democrats is irrelevant. The system failed us. And they ruined many thriving business. Laxed supervision and enforcement with our financial and investment institutions over many years have led to billions lost in pension plans and retirement funds. What is going to happen when unemployment money,tempory medical coverage, food assistance run dry. It's right around the corner. Forclosed homes around you mean higher property taxes on you. Its a house of cards. I can go on and on. What we need to do is to show up in mass in Washington, like they did for the Obama inauguration and start to kick ass and take names to make shure that most of these people never get re elected. Republicans and Democrats alike. This Stimulus Package is flat out fraud. We cant just hope for the best. We have to get toghther and take action fast, our we are going to get slaughtered. The compliancy of people today is disheartening. And the good old boys on Capital Hill know it, and know that we will do very little, if anything to challange there decisions. I would like to add the old cleeshay "hang in there" but that aint gonna do it anymore. As for my business I make less then some of my talented employees. Hanging on but getting tougher. Sleepless nights dreading layoffs. And I did everything right. God Bless Us and our children.

[DCFIREMANN]

I never posted but I have been an avid reader for years. I was compelled to sign up to post because of the economic situation. I own a medium size meat processing plant in Chicago. Forty years in the business. I have been riding Harley's for over 50 years. But what I really want to express is my disgust in our government leaders, and top executives of our country. Whatever you hear about who got us in this mess the Republicans or Democrats is irrelevant. The system failed us. And they ruined many thriving business. Laxed supervision and enforcement with our financial and investment institutions over many years have led to billions lost in pension plans and retirement funds. What is going to happen when unemployment money,temporary medical coverage, food assistance run dry. It's right around the corner. Forclosed homes around you mean higher property taxes on you. Its a house of cards. I can go on and on. What we need to do is to show up in mass in Washington, like they did for the Obama inauguration and start to kick ass and take names to make sure that most of these people never get re elected. Republicans and Democrats alike. This Stimulus Package is flat out fraud. We cant just hope for the best. We have to get together and take action fast, our we are going to get slaughtered. The compliancy of people today is disheartening. And the good old boys on Capital Hill know it, and know that we will do very little, if anything to challenge there decisions. I would like to add the old cleeshay "hang in there" but that ain't gonna do it anymore. As for my business I make less then some of my talented employees. Hanging on but getting tougher. Sleepless nights dreading layoffs. And I did everything right. God Bless Us and our children.

AMEN BROTHER!

I am worried about my grandchildren that I don't even know. They will inherit this mess. I just hope it gets better before it gets worse. But I doubt it!!!!!!

Be Safe

THE DAWG

[grc]

AMEN BROTHER!

I am worried about my grandchildren that I don't even know. They will inherit this mess. I just hope it gets better before it gets worse. But I doubt it!!!!!!

Be Safe

THE DAWG

I doubt it as well.  I may not be a Nobel laureate economist, but I do still have a fair measure of common sense and experience.  How does going deeper in debt fix problems created by excessive debt?  The whole thing reeks of a bunch of shysters selling swamp land and perpetual motion machines.

I still find it totally amazing that the taxpayer's are being forced to bail out the bunch of crooks in the financial markets who profitted so handsomely from the bogus "securities" they invented and pawned off on the rest of the world.  Anyone see any serious investigations and indictments yet?  Don't hold your breath if you're like me and think these crooks should lose their ill-gotten gains and their freedom, 'cause it ain't gonna happen.  We are going to hand them even more money to screw us over.  BTW, current estimates are now in the $2.5T range for the cost of the financial system bailout, and there is no consensus that even that huge amount will really "fix" anything.

Greed is Good!

Jerry

[comfortablynumb]

My company is closing the 2nd of 3 historic LABs leaving just ours. Invented most of the technology that we're using on the site. Union membership is down from 1100 to around 230. When they close near the end of this year we'll have around 150 left-after layoffs. I've been there over 21 years and I'm 8th from the bottom in seniority. Just refinanced and went back to a 30 year fixed in order to lower the payments to a more "manageable" level. Keeping fingers,toes,legs eyes, and gonads crossed that we'll still be standing when it's over-or just better. Still very thankful though, and praying for those who don't have many options.