Monday, October 06, 2008

So let me get this straight...

American financial institutions need a 700-billion-dollar bailout, using tax money paid by John and Jane Q. Public.
One of the companies leading the way down the financial toilet is Lehman Brothers.
Yet as the big hand was reaching for the flush handle, the top executives at Lehman's were being paid hundreds of millions of dollars in bonuses and dividends, led by the CEO, who picked up a cool 200-million himself.
"Crass" and "criminal" aren't nearly strong enough words to describe this debacle. This, while nest eggs are being eaten by possums.



Maria said...

double "SHEESH" on my side...
All this uncertainty has driven morgage rates even lower and to that I say "yipppeeee"

Newsguy Bob said...

Well, I'm not going to benefit from lower mortgage rates, but I did get in just in time to take advantage of the zero down payment thingy. It expires next week -- a government plan to prevent the foreclosure nightmare that happened in the Excited States of America.

Maria said...

Lower Morgage Rates is awesome!! I am so excited... my interest rate has now dropped to 3.95% as of TODAY! and to that I say AWESOME!! I still continue to pay the same every week but more goes to my capital than to interest.

I am looking forward to the days when I will be morgage free and when the rent check comes in from the tenant ITS ALL MINE!! Still a ways to go --- but if I am gonna dream I may as well dream BIG!!

Hooooooray for you and the zero down payment --- thats really great! No money down when you buy your first home. We never got that offer when we bought our place.
Plus, its great to help you with buying things you need for your new pad since buying your first home has so many costs involved, its helpful not to have to put a huge chunk in the down payment.

Newsguy Bob said...

Who said I have the money that would have been a down payment?


Maria said...

Cause your a RICH dude!!

I don't know is that what I was implying? HEH