How long are we supposed to have to wait for the benefits of the bailout to trickle down?

[bigtree]

Is there even any expectation that this legislation will do anything more than just keep the credit market from failing further? Is anyone pretending that this effort will actually work to address the failing mortgages which are at the heart of the credit breakdown?

If we don't do anything about stemming the increasing tide of these failing mortgages this effort won't last any longer than we're willing to provide the Treasury to hold this debt. How long can our government hold onto the bad debt? If there's no expectation that the housing crisis will subside, I don't think we can expect any significant easing of credit,

[Richardo]

1. What bailout?

:shrug:

[bigtree]

2. the proposed one

[Richardo]

3. Looks like we don't have to worry about that one anymore.

[sandnsea]

4. In addition to the mortgage program already passed

which includes money for a national housting trust and down payment assistance -

the bail-out bill would have had a mechanism to encourage lenders to write down mortgages as well as the re-insurance of some of these sub-prime mortgages, which was proposed by Republicans.

I don't think it would have fixed the entire economy because I don't think sub-prime loans are the problem anymore. But it would have been a blue tarp until we could get a good contractor in the house to see what really needs to be done.

[bigtree]

5. I wan't aware that the write-down measure ended up in the final bill

Was it a significant measure, or just a wish and a prayer?

[sandnsea]

6. It was not the bankruptcy provision

But this is legislation directed to lenders, not the judiciary. And there was a write-down provision, although I don't know how it would have worked. Like the current HOPE mortgage plan, it takes citizens to give a shit every single day to make sure legislation is working the way it's supposed to. Governments cannot be run by uninformed reactionaries.

[dipsydoodle]

7. When and if there is one I'd say about 5 years.

So don't hold your breath.

[bigtree]

10. that's my impression

. . . IF the lenders find the 'remedies' managable and sustaining. It's hard to see the credit market stabilizing without the housing market recovering. It's hard to see the housing market recovering without the economy improving. It's hard to see the economy improving soon with the government so deep in debt. It's hard to see the debt going down with this big an expenditure.

[RoccoR5955]

8. probably a dollar a year... that would be 700 billion years. n/t

[PsN2Wind]

9. Some of us are still waiting for the benefit from Reaganomics

but it'll be here soon.

[martymar64]

11. Forever

Because that money will NEVER come back.