Today, Bear Stearns had to be bailed out by the US government and JP Morgan Chase. They are no different then those individuals who have come to a financial abyss. Whether the cause is due to "poor" handling of finances, or issues beyond (their/your) control, the issue Bear Stearns faces is not so different. Sh*t, if the biggest investment corperations can't get it "right," how can one expect an individual consumer to make appropriate choices. I don't want to hear any more discussions about how the consumer is ruining the economy and consumers deserve "what they get." Bear Stearns should be required to consider a bankruptcy reorganization as much as the individual is required under a BK 13. I'm wondering how long it will take for us to hear news of Cap1, Suisse, or others to start "whining." Suck it up brothers and sisters. You are no different than the clients you lent money to. Everyone must share the burden. LOL. While our current US administration cannot take the sole responsibility for the current financial situation of the US, they are, and were, at the helm. Any good captain can tell you it is easy to approach and intially sail into stormy seas. However, once you are in the storm, only the best can keep you upright. And, somtimes a good mutiny is in order.
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agreed -
Amen.Filed: October 1, 2007 341: December 10, 2007
CONFIRMED: December 10, 2007
Payment: $825 / Mo. for 5 Years-29 MONTHS OF Pmts Down 23 to go!
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I totally agree!Comment
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Speak it, bro!
Nolo Press book on filing Chapter 7, there are others too. (I have no affiliation with Nolo Press; just a happy customer.) Best wishes to you!Comment
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I am hoping for my govt "bailout", what a joke!!!! The entire banking system in this country is on the verge of mega colapse and the govt does not want panic on their hands... My question is this... Does the Bear and Stearns Ceo/Cfo still collect their multimillion dollar paychecks?????Comment
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Originally posted by mesa777 View Post
Probably not. They probably get their multimillion dollar golden lump sum parachutes.
Feel better?
epComment
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ignore this message...posted twice for some reason..certain it couldn't possibly be user error...
epComment
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And I'll never understand how they can spend 43 million/billion? Sending those tax FYI letters.
CatchmeifyoucanJuly 2006: Filed Ch13 :blink:
Oct 2006: Converted to Ch7 :clapping:
Jan 2007: DISCHARGED :clapping:
Nov 2007: CLOSED :yahoo::yahoo::yahoo:Comment
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Originally posted by CATCHMEIFYOUCAN View Post
You just don't get it.
Those LOOK AT ME, LOOK AT ME, letters are going to come in pretty handy if you run out of firewood at your neighborhood bonfire.
There are ways to save fuel everywhere you look.
epComment
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As for me - I am going bankrupt because I want to - not because I have to. The first time I went BK (in 1994) it was because I had no choice. This time, well..I just woke up one morning and said to myself "I'm finished paying the creditors".
I went to my attorney (the same one I used for my 1994 Chapter 7) and asked if there were any potential snags that I had not considered behind my decision to up and stop paying my unsecured debts. He said no, there wasn't - but the inevitable lawsuits and garnishments and bank account seizures and interminable harassment are not that easy to tolerate, even if you are sure you can manage it. Chapter 13 BK is way, way easier.
And how. It would be a serious mistake for me NOT to go bankrupt. It is the correct thing to do, aside from being the easiest.
I feel damned good about that. Giddy, even!
The trustee will communicate his thoughts to me on April 3rd at the 341 meeting.Comment
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After hearing the news about Bear Stearns and several banks taking significant multi-million dollar writedowns/losses, I stopped feeling bad filing bankruptcy a long time ago. Unfortunately due to the state of the economy, I am sure that the percentages for bankruptcys will go up.sigpicPersevere: "To continue a course of action, in spite of difficulty, opposition or discouragement."
Chapter 13: Discharged 03/15/2010. Closed 05/19/2010::yahoo::yahoo::yahoo::yahoo::yahoo:Comment
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I agree with you on this. I bet more people are making attorneys rich because of it.Originally posted by $$only4ever View PostComment
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