Submitted by davidh36291 on Wed, 10/01/2008 at 7:16 pm.
The house should reject this next bill as they did the first. McCain is quickly losing his voter base by voting in favor of these bailouts. Let the failing banks go under, let those with poor credit suffer and let the glut of service industries that we have serving our greedy nation go broke. Perhaps after all is said and done we will move from a service economy to an economy that makes products. I only know I don't want my tax dollars going to those who were willing to put aside basic business practices so that they could profit. If I lose a few thousand and the market drops to 8000, so be it. As a nation we will survive this crisis as we have survived others. Where was congress during the technology crash in 2000? I didn't see them bailing out the millions of investors who lost billions then so why are they in such a hurry now? CYA that's why. They were complacent in all this and now they want to save face.
Submitted by gordonwall on Wed, 10/01/2008 at 5:42 pm.
I expect McCain to vote against the senate version of the bailout bill because of all pork that has been attached to this bill. Tax cut, mental health increases, other earmarks are not part of the original bailout package.
Submitted by loulouthia on Wed, 10/01/2008 at 11:23 am.
If you check, you will find that those fat cats who were bailed out in the 80's included one of the Bush brothers and that McCain was deeply involved with Keating (who did go to prison) and was admonished by the Congress for his part in it. His take on it?
Just like he 'defended' cheating on then leaving his wife for a rich trophy--
He didn't, but he did it with a smile
Can we survive more of this?
I am pessimistic if we keep the same crooks in those same crooked secret clubs
Submitted by loulouthia on Wed, 10/01/2008 at 11:13 am.
Liberty? total liberty is anarchy with a wild west mentality
Liberty for the money grubbing scoundrels is what got us here. Anti-trust laws made for some fairness and logic but gradually these (yes I said it) regulations are what saved this country from the robber barons. John D Rockefellers' standard oil has again been allowed to merge and become the same overbearing and ultimately bullying company again. Is there NO corporate memory?
During the depression's problems the government put a moratorium on foreclosures, wrote down the loan amounts, and people made smaller payments (with interest) and a PROFIT was made! voila
Wonder if the current robber barons would have had the chance to do what they did had not our economy been turned around then............
by the way-- the $10 billion per month we are paying for a war isn't even part of our taxes --only being further and further in hock to China and Japan and etc
Submitted by peterk41262 on Wed, 10/01/2008 at 8:51 am.
Buisness and Investment have risks, It is not the goverment's responsibility to cover all bets.
This is against every principal taught about economics.
Reward those who make poor decisions, reward those who hide thier poor decisions. The goverment gets to pick and choose which buisnesses can succeed and which ones can fall. This is facism !
Why are we spending more than we have ? Why are we helping those who live out of thier income? Why won't our leaders listen to the people ?
Why do they choose Socialism over Liberty ?
I guess we need to go to Europe if we want to do buisness in a free market. We beat Communism on the battle field but they beat us in the end. With this rescue/bailout plan we will have converted to a Socialist Economy. Don't re-elect Politicians in favor of this. They only care about thier own personal finances and not the voice of the people.
Truly the saddest moment in Amercian History.
Submitted by ILikeSnacks on Wed, 10/01/2008 at 7:51 am.
Has any one looked at the EURO since this all has happened; our dollar has strengthened substantially against the EURO for the first time in months. A barrel of oil is estimated drop to the low 80’s; Stock market is on the rebound. I'm really starting to wonder if we are not bailing out the upper 10% again
The reasons for that is European governments planning or executing bailout plans for their own banks. The news here focuses heavily on the US economy but this is a global thing.
The US stock market jumped on indications Congress was going to push a new bailout bill. The stock market isn't a good economic health indicator because it's people trying to anticipate what will happen in the future rather than what is happening now. If you gamble on when an upswing will start and get it right, you can make a lot of money.
Submitted by justthetruth on Tue, 09/30/2008 at 9:15 pm.
Has any one looked at the EURO since this all has happened; our dollar has strengthened substantially against the EURO for the first time in months. A barrel of oil is estimated drop to the low 80’s; Stock market is on the rebound. I'm really starting to wonder if we are not bailing out the upper 10% again.
Today’s prime interest rate forecast show the rate dropping from 5.0 to 4.75... So I ask are we really going down the tubes. Maybe those Wall Street fat cats need to eat beans and rice or liquidate their leer jet/20,000 sq foot homes if they are worried about making payrolls.
This reeks of the 80’s Saving and loan bail out take has cost us to date 1.4 Trillion. Which was started by a Dem ( Carter) and now the Fanny Mae article that shows another (DEM) Clinton who force Fanny Mae to lower their loan guidelines.
Get hold of your Senator and tell them that their re-election chances are in risk if they approve this bail out.
Submitted by ILikeSnacks on Tue, 09/30/2008 at 7:36 pm.
I picked yes here because I didn't like the pace. It may very well be a good idea to artificially loosen up credit but it needs to be carefully analyzed. The lawyers in Congress are not qualified to make that decision and need to give a wide range of economist time to present arguments.
Incumbents got us into this mess
If it's an incumbent, vote for his/her opponent in November. We can clean up this mess by ridding Congress of all incumbents running for re-election.
Why can't Congress
Put one bill through with out all the pork and ear marks for a change. That's why we don't like you all in Congress.
Congress should reject new bill
The house should reject this next bill as they did the first. McCain is quickly losing his voter base by voting in favor of these bailouts. Let the failing banks go under, let those with poor credit suffer and let the glut of service industries that we have serving our greedy nation go broke. Perhaps after all is said and done we will move from a service economy to an economy that makes products. I only know I don't want my tax dollars going to those who were willing to put aside basic business practices so that they could profit. If I lose a few thousand and the market drops to 8000, so be it. As a nation we will survive this crisis as we have survived others. Where was congress during the technology crash in 2000? I didn't see them bailing out the millions of investors who lost billions then so why are they in such a hurry now? CYA that's why. They were complacent in all this and now they want to save face.
Bailout bill
I expect McCain to vote against the senate version of the bailout bill because of all pork that has been attached to this bill. Tax cut, mental health increases, other earmarks are not part of the original bailout package.
DEM BAILOUT???
If you check, you will find that those fat cats who were bailed out in the 80's included one of the Bush brothers and that McCain was deeply involved with Keating (who did go to prison) and was admonished by the Congress for his part in it. His take on it?
Just like he 'defended' cheating on then leaving his wife for a rich trophy--
He didn't, but he did it with a smile
Can we survive more of this?
I am pessimistic if we keep the same crooks in those same crooked secret clubs
bailout?!
Liberty? total liberty is anarchy with a wild west mentality
Liberty for the money grubbing scoundrels is what got us here. Anti-trust laws made for some fairness and logic but gradually these (yes I said it) regulations are what saved this country from the robber barons. John D Rockefellers' standard oil has again been allowed to merge and become the same overbearing and ultimately bullying company again. Is there NO corporate memory?
During the depression's problems the government put a moratorium on foreclosures, wrote down the loan amounts, and people made smaller payments (with interest) and a PROFIT was made! voila
Wonder if the current robber barons would have had the chance to do what they did had not our economy been turned around then............
by the way-- the $10 billion per month we are paying for a war isn't even part of our taxes --only being further and further in hock to China and Japan and etc
Buisness And Investments have risks
Buisness and Investment have risks, It is not the goverment's responsibility to cover all bets.
This is against every principal taught about economics.
Reward those who make poor decisions, reward those who hide thier poor decisions. The goverment gets to pick and choose which buisnesses can succeed and which ones can fall. This is facism !
Why are we spending more than we have ? Why are we helping those who live out of thier income? Why won't our leaders listen to the people ?
Why do they choose Socialism over Liberty ?
I guess we need to go to Europe if we want to do buisness in a free market. We beat Communism on the battle field but they beat us in the end. With this rescue/bailout plan we will have converted to a Socialist Economy. Don't re-elect Politicians in favor of this. They only care about thier own personal finances and not the voice of the people.
Truly the saddest moment in Amercian History.
Other reasons for that
Has any one looked at the EURO since this all has happened; our dollar has strengthened substantially against the EURO for the first time in months. A barrel of oil is estimated drop to the low 80’s; Stock market is on the rebound. I'm really starting to wonder if we are not bailing out the upper 10% again
The reasons for that is European governments planning or executing bailout plans for their own banks. The news here focuses heavily on the US economy but this is a global thing.
The US stock market jumped on indications Congress was going to push a new bailout bill. The stock market isn't a good economic health indicator because it's people trying to anticipate what will happen in the future rather than what is happening now. If you gamble on when an upswing will start and get it right, you can make a lot of money.
Chicken Little Syndrome
Has any one looked at the EURO since this all has happened; our dollar has strengthened substantially against the EURO for the first time in months. A barrel of oil is estimated drop to the low 80’s; Stock market is on the rebound. I'm really starting to wonder if we are not bailing out the upper 10% again.
Today’s prime interest rate forecast show the rate dropping from 5.0 to 4.75... So I ask are we really going down the tubes. Maybe those Wall Street fat cats need to eat beans and rice or liquidate their leer jet/20,000 sq foot homes if they are worried about making payrolls.
This reeks of the 80’s Saving and loan bail out take has cost us to date 1.4 Trillion. Which was started by a Dem ( Carter) and now the Fanny Mae article that shows another (DEM) Clinton who force Fanny Mae to lower their loan guidelines.
Get hold of your Senator and tell them that their re-election chances are in risk if they approve this bail out.
Yes but not in concept
I picked yes here because I didn't like the pace. It may very well be a good idea to artificially loosen up credit but it needs to be carefully analyzed. The lawyers in Congress are not qualified to make that decision and need to give a wide range of economist time to present arguments.