{"id":4729,"date":"2008-09-30T06:09:09","date_gmt":"2008-09-30T13:09:09","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=4729"},"modified":"2008-09-30T06:12:52","modified_gmt":"2008-09-30T13:12:52","slug":"toms-top-ten-reasons-he-doesnt-like-the-bailout","status":"publish","type":"post","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/4729\/toms-top-ten-reasons-he-doesnt-like-the-bailout\/","title":{"rendered":"Tom’s Top Ten Reasons He Doesn’t Like the Bailout…."},"content":{"rendered":"
    \n
  1. Because a government intervention the financial systems rarely works well.<\/li>\n
  2. Because it fails to acknowledge the fundamental shift that is occurring in our society as we move from being “overleveraged” to using credit responsibly.<\/li>\n
  3. Because Nancy Pelosi likes it.<\/li>\n
  4. Because no one has been able to prove that by buying this garbage from the banks, it will do anything to actually help credit get done.<\/li>\n
  5. Because Barney Frank likes it.<\/li>\n
  6. Because JP Morgan and the FDIC were able to work out a very smooth transition when Washington Mutual closed down last week and it was done without any unusual interventions.<\/li>\n
  7. Because the bailout refuses to consider that not all banks are equal.\u00a0\u00a0 Those who are most likely not going to make it would get the same government money as those who are perfectly healthy.\u00a0\u00a0\u00a0 That’s just not right.<\/li>\n
  8. Because Rep. Peter Hoekstra (R-Michigan) voted against it, and I have a lot of respect for Pete.<\/li>\n
  9. Because the Main Stream Media is preaching an unbelievable amount of panic, distrust and fear and they are doing it with items that are not factual.<\/li>\n
  10. Because the government hasn’t done a good job (because I don’t believe they can) in showing that there’s a connection between buying bad assets from the banks and helping Main St.<\/li>\n
  11. Because Citigroup and the FDIC worked out a “take over” of Wachovia without any significant market disruptions and without any unusual bailout efforts.<\/li>\n<\/ol>\n

    Okay, so it was actually 11.\u00a0\u00a0 The point is, the bailout is not good for our country and not good for our economy.\u00a0\u00a0 Are banks going to fail?\u00a0 Yep.\u00a0\u00a0 Do I hope that “my bank” isn’t one of them?\u00a0 Yep.\u00a0\u00a0 But like Jeff Brown says, we know how the story ends up and we’ll all be fine.<\/a><\/p>\n

    Tom Vanderwell<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

    Because a government intervention the financial systems rarely works well. Because it fails to acknowledge the fundamental shift that is occurring in our society as we move from being “overleveraged” to using credit responsibly. Because Nancy Pelosi likes it. Because no one has been able to prove that by buying this garbage from the banks, […]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[29,26,5],"tags":[236,241,242,240,159,243],"class_list":{"0":"post-4729","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-group-therapy","7":"category-lending","8":"category-real-estate","9":"tag-bailout","10":"tag-barny-frank","11":"tag-jp-morgan","12":"tag-pelosi","13":"tag-wachovia","14":"tag-washington-mutual","16":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":4792,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/4792\/mortgage-market-week-in-review-11\/","url_meta":{"origin":4729,"position":0},"title":"Mortgage Market Week in Review","author":"Tom Vanderwell","date":"October 3, 2008","format":false,"excerpt":"Well, here we are on Friday again. Are you getting motion sickness from all of the news and rumors that are flying back and forth? Wow has it been another week to forget, hasn\u2019t it? Here are the topics we\u2019re going to talk about today: The Bailout\/Rescue Plan, some very\u2026","rel":"","context":"In "Group Therapy"","block_context":{"text":"Group Therapy","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/group-therapy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4537,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/4537\/will-the-democrats-endorse-hank-paulsons-mortgage-bailout-plan\/","url_meta":{"origin":4729,"position":1},"title":"Will The Democrats Endorse Hank Paulson’s Mortgage Bailout Plan?","author":"Brian Brady","date":"September 19, 2008","format":false,"excerpt":"This Presidential election campaign is exciting to watch.\u00a0 Team Obama benefits from the continued free fall on Wall Street.\u00a0 Sean Purcell reminds us that folks on that side of the aisle like to say \"I'm from the government, we're here to help you\" yet the other side is the one\u2026","rel":"","context":"In "Real Estate"","block_context":{"text":"Real Estate","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/real-estate\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4678,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/4678\/mortgage-market-week-in-review-to-bail-or-not-to-bail\/","url_meta":{"origin":4729,"position":2},"title":"Mortgage Market Week in Review – to Bail or not to Bail?","author":"Tom Vanderwell","date":"September 26, 2008","format":false,"excerpt":"Yikes, every week it\u2019s getting more and more challenging to lay out for you what\u2019s going on in the markets.\u00a0\u00a0 Hopefully it will get easier, but I\u2019m not really sure that it will for a while.\u00a0 So what are we going to talk about this week?\u00a0\u00a0 This week it\u2019s about\u2026","rel":"","context":"In "Dirty Laundry"","block_context":{"text":"Dirty Laundry","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/dirty-laundry\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4588,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/4588\/wall-street-bailout-plan-to-include-more-than-bad-mortgage-debt-feds-to-absorb-unpaid-bar-bets-inadvertently-laundered-postage-stamps-unredeemed-soda-cans-and-insufficient-tooth-fairy-disbursements\/","url_meta":{"origin":4729,"position":3},"title":"Wall Street bailout plan to include more than bad mortgage debt: Feds to absorb unpaid bar bets, inadvertently laundered postage stamps, unredeemed soda cans and insufficient tooth-fairy disbursements","author":"Greg Swann","date":"September 22, 2008","format":false,"excerpt":"Totally absurd? Think twice:In the dark of night over the weekend when most people were snoozing, the Treasury dramatically expanded its bailout plan to include buying student loans, car loans, credit card debt and any other \"troubled\" assets held by banks. The changes, which were included in draft language that\u2026","rel":"","context":"In "Group Therapy"","block_context":{"text":"Group Therapy","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/group-therapy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":3378,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/3378\/mortgage-market-week-in-review-2\/","url_meta":{"origin":4729,"position":4},"title":"Mortgage Market Week in Review","author":"Tom Vanderwell","date":"July 18, 2008","format":false,"excerpt":"Well, believe it or not, we've made it through another week.\u00a0\u00a0 And wow, what a week it's been.\u00a0\u00a0 I'm going to try a little bit of a different \"scenario\" for this week's Mortgage Market Week in Review.\u00a0\u00a0 Rather than trying to tell you everything that's been happening this week (it\u2026","rel":"","context":"In "Lending"","block_context":{"text":"Lending","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/lending\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4709,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/4709\/an-update-on-the-bailout\/","url_meta":{"origin":4729,"position":5},"title":"An Update on the Bailout….","author":"Tom Vanderwell","date":"September 29, 2008","format":false,"excerpt":"and yes, after doing some more reading on it, I do still consider it a bailout. I\u2019m going to put a copy of a post that Yves at Naked Capitalism wrote in italics and then my comments will be interspersed in bold print and then I\u2019ve got more thoughts at\u2026","rel":"","context":"In "Egoism in Action"","block_context":{"text":"Egoism in Action","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/egoism-in-action\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/4729","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/comments?post=4729"}],"version-history":[{"count":4,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/4729\/revisions"}],"predecessor-version":[{"id":4733,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/4729\/revisions\/4733"}],"wp:attachment":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/media?parent=4729"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/categories?post=4729"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/tags?post=4729"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}