I'm just glad my $250K will be safe now. whewwww hoooooo!!!!! What a relief. I'd like to know how those 25 senators think they will be able to get a credit card, buy a car, sell their house or buy a new one for that matter or buy any big ticket item. But again, at least my 250k and my 626 fico are safe.
I don't know the right answer but regardless of whether we bail out or not, you and millions of other Americans will be paying for this one way or another. I sincerely doubt all these companies will lose billions and NOT pass it onto each and every one of their customers in one way or another. So here's to increased interest rates...if anyone out there is still willing to lend money.
One of my friends has an 830 FICO and was in the process of buying a car two days ago, so while she got a good deal on the price of the car, it cost her far more money in interest. Net overall, it was more expensive than the car she bought two years ago. She said the whole thing wasn't easy, including the financing -- with an 830 real FICO...wow....so what are the rest of us FICO 'low lifes' going to do now????? Most people aren't financial planners with an 830 fico and an Beverly Hills address.
Hopefully things get better. I prey everyday. For some reason, though, I don't think it matters any longer who told anyone what. We're all in this together now whether we like it or not and your taxes will go up whether you like it or not or vote for your senator again or not. That's just the fact of the matter. Where else do you think it can go from here?