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Greg

United States
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February 19, 2002
530 Posts
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Feb 9, 2008, 6:28 pm

We are currently spending $1,000,000 a minute on the war.

Here's the (imaginary) deal:

For 24-hours, you will be given $1,000,000 a minute to spend.

You can ONLY spend the FIRST hour ($60,000,000) on yourself, your family, friends, and other loved ones. The word "spend" here can mean give to, save, etc.

However, for the OTHER 23 hours, who or what would you spend the money on?

If my calculations are correct, $60 million dollars X the remaining 23 hours = $1,380,000,000.
LuckyLilly

United States
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February 26, 2007
601 Posts
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Feb 9, 2008, 6:58 pm

I'd spend the rest to help New Orleans rebuild and recover its former glory.

I saw a program a couple months ago that suggested NO is under martial law, that the National Guard is providing policing and security. If that's true, that's an unacceptable situation. They need help!
pacattack05

United States
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June 22, 2005
5,582 Posts
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Feb 9, 2008, 8:03 pm

Quote: Originally posted by Greg on Feb 9, 2008
We are currently spending $1,000,000 a minute on the war.

Here's the (imaginary) deal:

For 24-hours, you will be given $1,000,000 a minute to spend.

You can ONLY spend the FIRST hour ($60,000,000) on yourself, your family, friends, and other loved ones. The word "spend" here can mean give to, save, etc.

However, for the OTHER 23 hours, who or what would you spend the money on?

If my calculations are correct, $60 million dollars X the remaining 23 hours = $1,380,000,000.

I'd donate the rest to a charity like the ones who help children with incurable cancer. The one I hear all the time on tv. Kids in my opinion are the worst victims because they don't really understand the world around them. They don't know why they have to have chemo, losing their hair and dignity, even they might not know what that really means. They're not stupid. However, I do know that kids have a certain insight to this world that's always amazing to me. They are resiliant (spelling?), as far as gut instincts, and can cope better than adults because of their innocence and born instinct. I know, because I've had those instincts as child.

Sure I'd like to save the rest of the world's children in other countries, but that seems futile becasue funds seem to magically fall into the wrong hands, and not get to the right people who really are trying to help. Foreign governments intercept those funds.

But this is a start. If I could see just one child smile knowing there is hope in studies trying to find cures, is worth a billion bucks to me.
lottocalgal

CA
United States
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December 23, 2007
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Feb 9, 2008, 8:27 pm

Maybe this is kinds selfish, but I'd give money to the mortgage/ credit companies with the strict condition that they MUST hire back all the employees that had been affected by the mortgage decline. They must employ these people for at least 2 years. The money would be given only for the salaries of those people, ( plus some kind of bonus for doing so, God forbid companies do it because its the right thing to do) but those people would have to continue their original lifestyles ( spending and all) so that the economy could turn around. Or at least helped a bit. Allot of my friends have been misplaced and like i said on another post, mortgage is all they know-It would give ten of thousands of mortgage/credit workers back their lives.
MADDOG10

50

Beautiful Florida
United States
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July 18, 2004
29,529 Posts
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Feb 9, 2008, 8:46 pm

Quote: Originally posted by lottocalgal on Feb 9, 2008
Maybe this is kinds selfish, but I'd give money to the mortgage/ credit companies with the strict condition that they MUST hire back all the employees that had been affected by the mortgage decline. They must employ these people for at least 2 years. The money would be given only for the salaries of those people, ( plus some kind of bonus for doing so, God forbid companies do it because its the right thing to do) but those people would have to continue their original lifestyles ( spending and all) so that the economy could turn around. Or at least helped a bit. Allot of my friends have been misplaced and like i said on another post, mortgage is all they know-It would give ten of thousands of mortgage/credit workers back their lives.

I would help those workers also, but the rest would go to St.Judes Hospital. Seeing the furture in the eye's of a child is worth every penny, but the icing would be to see them smile in two years from now...!

KARMA...Has no menu. You get served what you deserve
Yaddamean

United States
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February 8, 2008
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Feb 10, 2008, 1:45 am

the first hour, 60 mill, would go into my bank account.

The rest, will go to solve problems the world faces. Homelesness, starving kids, countries in poverty, theirs too many to name.
justxploring

Wandering Aimlessly
United States
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November 5, 2005
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Feb 10, 2008, 2:53 am

Not selfish at all, lottocalgal. Lots of people are being affected, not just the mortgage business. I sold furniture for years and many stores have gone out of business here in the past 2 years. A large jewelry store is shutting its doors here too. Then there are the construction workers who are all out of a job.....and the list goes on.

I agree with Maddog and Pac. I would want to give it to the children, but I also would like to help animals. Since there is a time limit, I think I might just give it to a foundation that I trust. There are so many deserving philanthropies..Doctors Without Borders for one. The list is too long.
lottocalgal

CA
United States
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December 23, 2007
587 Posts
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Feb 10, 2008, 8:46 am

Hey Justexploring,

I agree ,way too many to list. We are not in the greatest shape right now; even the lumber market has suffered and the car dealerships. Its a serious domino affect on us all.
grengrad

Raleigh
United States
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January 17, 2007
172 Posts
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Feb 10, 2008, 10:12 am

Lots of people are losing their homes over this real estate crisis.

Many of these people could be keep their homes with an infusion of cash of $20,000-$30,000, which would eliminate their past due payments and cut into their future payments. If the average cost to do this was $25,000, I could help 55,000 people keep their homes, which might in the process save 7-8 billion dollars of loans from being defaulted on.

Consequently thousands of people in the real estate and banking industry would be saved from losing their jobs.
four4me

MD
United States
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June 18, 2003
10,731 Posts
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Feb 10, 2008, 11:04 am

I didn't want to start thread drift i even slept on it before i decided to write.
Banks created this mess by giving loans to people without financial background checks this was the biggest blunder they could have done. They usually wouldn't lend you a few thousand to buy a car without some kind of collateral. But they will lend you 100,000 -- 200,000 thousand or more to buy a house without financial statements. Give me a break.

Did you know in order to attempt to bail themselves out of this mess what they are doing to people with credit cards regardless of wether you are a good credit risk pay on time and have never missed a payment.

There upping their percentage rate of return on your unpaid balances if for any reason they decide to... even if your one day late. Suppose you have a card with a 5,000 limit. Are a good payer only owe 1800 on your card they send you a statement saying they have increased your limit to 8000 dollars. You go out and charge 2500 on something. You get your next statement and find out that what they were charging you in interest was 6% is NOW 28%

You are going to be livid..... of course you can opt out of it but that means losing your card and paying off the balance. You have been warned read all correspondence from your banks even it you hate too... they are making interest changes that will affect you adversely.

Banking institutions are the new ENRON

Give your money to whomever you want but it shouldn't be the working class citizen that bales them out of the mess they created.
lottocalgal

CA
United States
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December 23, 2007
587 Posts
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Feb 10, 2008, 11:23 am

Quote: Originally posted by four4me on Feb 10, 2008
I didn't want to start thread drift i even slept on it before i decided to write.
Banks created this mess by giving loans to people without financial background checks this was the biggest blunder they could have done. They usually wouldn't lend you a few thousand to buy a car without some kind of collateral. But they will lend you 100,000 -- 200,000 thousand or more to buy a house without financial statements. Give me a break.

Did you know in order to attempt to bail themselves out of this mess what they are doing to people with credit cards regardless of wether you are a good credit risk pay on time and have never missed a payment.

There upping their percentage rate of return on your unpaid balances if for any reason they decide to... even if your one day late. Suppose you have a card with a 5,000 limit. Are a good payer only owe 1800 on your card they send you a statement saying they have increased your limit to 8000 dollars. You go out and charge 2500 on something. You get your next statement and find out that what they were charging you in interest was 6% is NOW 28%

You are going to be livid..... of course you can opt out of it but that means losing your card and paying off the balance. You have been warned read all correspondence from your banks even it you hate too... they are making interest changes that will affect you adversely.

Banking institutions are the new ENRON

Give your money to whomever you want but it shouldn't be the working class citizen that bales them out of the mess they created.

Four,

On a whole, I agree with you, but here's the problem. Those of us on the lower end (previous Underwriter) tried to warn them. i even got pulled into my bosses office because i refused to approve a deal I knew was bull. 100% STATED first time home buyer claiming $15,000 per month as a house cleaner. Of course they fit the "box" so I was forced to approve them even though I provided proof that the borrower wasnt even in California at the time her "busines" existed. Brokers and AEs would bully us and managers overode our decision. We tried to tell them ahead of time. The good news is, I saw layoffs coming so I started saving and planning my departure almost a year before it dropped, but some of my friends weren't so lucky. Yes I am out of a job too but I will be okay- for a bit. But the mortgage industry is over for me. I can't take it. Now those same AE's and brokers are losing their own million dollar homes that they purchased off the backs of unsuspecting people. The deals were out there yes, but the borrowers wanted a home so badly that they didnt ask questions, ignored the contracts and the shark brokers didn't explain it or the consequences, "since they didnt ask I don't tell." It pisses me off because all the brokers had to do was fully explain and the client should have ask but didnt.

So you see I am the working class, but i was in it too. I keep thinking, "if I could have fought harder," but when I (we)argued, they just went over my (our) head.
four4me

MD
United States
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June 18, 2003
10,731 Posts
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Feb 10, 2008, 11:33 am

lottocalgal i agree with what you are saying about the workers.... but what the market was all about was banking institutions making big bucks on wall street. They manipulated the stock market and caused a recession.

The banks allowed the loans to go through not the workers it was the ceo's of the banks who are at fault.

Now they are looking for ways to fix the problem by putting higher interest rates on unsuspecting customers credit reports.

When the feds continuously lowered the prime rate the banks should be lowering interest rates on credit cards not raising them.
lottocalgal

CA
United States
Member #57,220
December 23, 2007
587 Posts
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Feb 10, 2008, 11:51 am

Quote: Originally posted by four4me on Feb 10, 2008
lottocalgal i agree with what you are saying about the workers.... but what the market was all about was banking institutions making big bucks on wall street. They manipulated the stock market and caused a recession.

The banks allowed the loans to go through not the workers it was the ceo's of the banks who are at fault.

Now they are looking for ways to fix the problem by putting higher interest rates on unsuspecting customers credit reports.

When the feds continuously lowered the prime rate the banks should be lowering interest rates on credit cards not raising them.

I have to agree with you one that one. I can't tell you how many times we were told to "just move that to the left" when we found some kind of derogatory information. The left side of a file was where we kept information that we recieved but was NOT being sent to the investors. And yes now they are trying to Fix it by sticking it to our credit rating. Maybe in year or two things will turn around, but Im out! I dont know where i'll be but mortgage is not it. So, I will have to win the lottery so I wont have to work at all

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