There was an interesting article in The New York Times on Monday, January 12, 2009 "Release of More Bailout Money Gains Favor", by David M. Herszenhorn and Edmund L. Andrews, which stated that under the threat of a subpoena, The Treasury Department will be under investigation scrutiny with several major financial institutions with copies of several signed contracts they signed with Wall Street with the $700 billion bailout.
While the first $350 billion bailout money has already been spent, President elect Obama plans to foresee that the second half of the $700 billion will be to "increase lending and preventing new financial crisis and not enriching shareholders and executives...imposing tough conditions on companies who are getting aid..." And the bailout money really goes out to...
The article also states that the FDIC will be regulating how the banks are utilizing the bailout government money. In a minuscule comparison, that's like the FDA saying that they will label every toxic ingredient in the packaged foods that we consume. We will see about that - I want to hear and see some action!
Tracking the first $350 billion bailout money:
There has been debate over bailing out automakers and what they have to do with the financial crisis. Beside the point, now that automakers are getting bailed out of the financial crisis too, will the pharmaceutical companies or hospitals be next? Think about it - too many uninsured patients going to the doctor because of the financial crises and foreclosure hardships have caused them congestive heart failure and so on, so the hospitals have way too many expenses...just a thought.
While we wait for the financial crises to subside we can focus on what is important to us as real estate professionals - make deals, make it happen! Despite the circumstances, I believe that if you want something so bad and put your mind and energy into it, life itself will bring it to you, and if doesn't, it was never meant to be. Use your imaginary button and click NEXT! Just the other day my friend told me, "somethings gotta give" on a plan that I was hoping for. The plan didn't go through, instead, I received something greater. Life was after all, on my side, I just had to learn to be patient. You have to grab life by the horns!
Here is an inspirational song - hope you like it! It was inspired to me because it sickens me to see and hear that people are making money out of other people's innocence. There is a lyric to a song that goes something like this "I'd rather you hurt me honestly than mislead me with a lie" can't remember the artist. To me, that's the real estate buyer/seller interpretation of "I'd rather you hurt me honestly by telling me the truth that I cannot buy or sell a/my home at this time than mess with me, my time, and my money and me and you can get along just fine."
Live Like You Were Dying by Tim McGraw - Live, Love and Laugh!
