[SCUDSBROTHER]

Originally Posted by Danzig

no, he doesn't. everyone has debt, the point is not to have too much, and to use your available credit wisely.
so, the loans tighten up. folks can't buy houses, cars, whatever. what do you think happens, scuds, to those in the housing and real estate businesses, dealerships, factories, etc, etc? they lose their jobs because the buying well dries up. not everyone can pay cash for every big ticket item they buy. and, like a small snowball that you push over the edge, it just gets larger and larger as it rolls down hill....more jobs lost, less money, and so it goes.

i never thought about this outcome, the bill not passing. back to the drawing board, and hopefully a solution.

I DON'T HAVE DEBT. What will happen? Americans will have to start to live with discipline. Americans need to try it. THIS BILL FAILED, because we are not for pissing away the value of our savings just to socialize the losses of crooks, and people that gambled in the stock market. Be responsible next time. We don't want to socialize these losses. That's just the way it is. If you can't get new loans, then don't buy it. Revolutionary!! We need to correct the way Americans act with money. Start.