I've heard the federal reserve has said they will not be bailing the banks out on this one. Is it true?
2007-08-13 01:37:34 · 8 answers · asked by Anonymous in Politics & Government ➔ Immigration
I am happy to see for now that they are cracking down, but keep your eyes and ears open, because I keep hearing that the current "crackdown" is but a "show" and they will later try for a blanket amnesty or something of the sort...before the current President leaves office.
REMAIN VIGILANT!!!!
Don't believe everything the media tells you.
2007-08-13 04:27:24 · answer #1 · answered by whiz 4 · 3⤊ 1⤋
NAH - it will only be a matter of time before the Fed will bail them out - while they are not doing it right now - they will do it in the future
Why will they do it - because they are not yet ready to institute the Amero yet - this wont be coming for another couple of years so they wont have a choice - if they dont bail them the entire system will collapse and we will hit a depression
Actually - right now - the Fed is surprising doing the right thing - for once.
Its the low interest rate, easy money that got us into this problem - how anyone thinks the problem and the solution are the same thing is very surprising to me
if the Fed bailed them out right now we would just have a worse recession then what is coming already - better to wait for now and let the market do some correcting beofre getting involved
2007-08-13 08:59:40 · answer #2 · answered by jimkearney746 5 · 2⤊ 1⤋
No, I think that the secondary mortgage companies that bought the loans from the banks are not going to be bailed out. There were a lot of loans that were given both to illegal and legals, as well as USA citizens. These were called liar loans, being that those who got these loans lied about income, debt, and such. All made money off these loans, from the loan officer, appraiser, lender, and the owner who got much more than their home was worth. Now because of higher interest rates these loans are failing in large numbers, so the secondary loans companies are going belly up, so they want the government to bail them out, and the government said no. I think this has nothing to do with amnesty, but I do believe W will make one more run before he leaves office
2007-08-13 12:31:58 · answer #3 · answered by jean 7 · 0⤊ 1⤋
Can anyone say .... ID theft epidemic?
This will give the chance for people with real ss# to sell them to undocumented immigrants for thousands of dollars. I hear about these sort of things happening all the time. This way they will be able to use a real social security number along with a real name ..... the SS administration will never know if someone doesn't report it as "stolen ID".
Anyway, along with this .... comes the major decline of the US economy. As if the stock market's plunge wasn't enough (due to the defaults in mortgage market).
2007-08-13 11:16:45 · answer #4 · answered by Shawty1isback 2 · 0⤊ 0⤋
they are doing this for show and in a few months taking another shot at amnesty
the argument
See we are enforcing the law ( sure only for a few months) now Give us amnesty
It doesnt work that way 2 shall not coincide give us enforcement lets see results not tiny token raids
2007-08-13 12:29:59 · answer #5 · answered by Anonymous · 1⤊ 0⤋
It is so true, there was a major raid on one of the plants in Portland, Oregon about a month and a half ago.
2007-08-13 08:45:09 · answer #6 · answered by trey98607 7 · 4⤊ 0⤋
well from New Jersey i can say that is true i have seen it happen 2 times last week both landscaping company's
2007-08-13 08:49:58 · answer #7 · answered by babyrun1920 2 · 6⤊ 0⤋
from what i have been reading and hearing, yes it's true. if they are acting on it, i don't know. time will tell.
2007-08-13 08:51:09 · answer #8 · answered by Anonymous · 3⤊ 0⤋