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Even scarier then? Bush would stay in office.:p |
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A year later, that has changed. With all of the losses over the last year, banks are hoarding cash now because its all they have. And if they don't have cash, what are they going to lend ? And if they won't lend to each other without charging ungodly rates, what will that do to rates to consumers? |
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If I were voting, I would love to hear a set plan on how they would do this. |
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people with money in the bank will be fine.... everyone living on credit will be out of luck. small businesses that buy almost everything on credit would go under and a ton of jobs will be lost also. people that look at this as a wall street only bailout are totally clueless and are listening to way too much of the media's crap. I DO wish they wouldn't bail these companies out. Have them go under and take every single CEO/board of them and let each and every single one rot in jail. Loan them money if necessary for a time to be paid back with interest, yes, bailout with the gov't taking over and eating the bad paper, not a chance that's ok with me. |
the other thing i'd like to see, is since congress is probably going to pass some sort of bailout for them.... is to have all of the members of congress give back the hundreds of millions of dollars that they've gotten from them.
prime example: Dodd, Frank and Obama getting almost ONE HUNDRED MILLION from fannie and freddie won't happen, but would be a good idea (and that goes for both sides of the aisle in both houses of congress) |
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I agree average joe should not bail out wall street fat cats, but we do need an immediate fix to stop the bleeding. You must understand that wall street drives main street and if this bailout does not go through average joes balls will be chopped off, fat cats will still be fat cats only a bit skinny. We can look for a long term solutions LATER. |
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Trying to spin this into a problem created by democrats is just silly just as saying its all to blame on the republicans and mccain for glass/steagall and deregulation. People keep trying to simplify this and its not a simple problem. If fingers need to be pointed, this thread can go on for a long time. |
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I agree there should be no political spin, this is a deep rooted problem never addressed because profit and loss statements were looking brilliant. Now that the sh** hits the fan, it become everyones problem. |
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Most people now have access thru credit cards/multiple mortgages, etc. to a whole lot more money than they should have (me included... have it, but am smart enough not to use it unless necessary, and pay everything off ASAP). Alot of people think that just because they have access to credit, they can spend every last cent of it, which just gets them into financial trouble, especially if they miss a payment somewhere, as then their interest rates on everything skyrockets. Some sort of quick fix is unfortunately going to be needed, in order for small businesses to keep going (most don't have huge cash reserves and buy most things on credit). Otherwise, unemployment's going up tremendously, due to all of these businesses closing, which would only make things a ton worse, as then, even more people will be defaulting on everything. |
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wall street fat cats --- the ones that are hurt by this are the little investors that thought of buying stock in a company as owning a piece of america
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Senate passes it 74-25.
Back to the House. Its a bit diff. but not signficantly imo. |
i ate too much fatty food and had a heart attack.
i'm not going on a diet so the only solution seems to be just letting my heart fix itself. and blaming my heart for taking all those deposits of yummy yummy fat. hey retarded consumer! your politicians can't say it but you've been living way beyond your means. you borrowed all that money that isn't getting paid back. nice house you couldn't afford. or could at one time until you borrowed yourself into the hole you're in. i love how it's always someone else's fault. washington and wall street were enabler's. but you did this to yourself. good plan on the no medical treatment. that'll teach the heart. |
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I was talking today with B Wayne Hughes about the bailout deal , I just thought his views would be very interesting considering his wealth . He is livid that the government is going to bail these banks and investment firms out , he thinks we are just about one step away from Scocialism. He was also saying that our dollar is going to be worth about 50 cents here soon because we are borrowing this money from the Chinese who's crap products we buy and throw away a year later is keeping our dollar out of our country. He was also stating how our government just gave 2 car companies a boat load of money to bail them out because we cant seem to be able to build a affordable quality car in this country and that it just seems a little stupid considering we invented the damn thing . Anyway I wish I would have had more time to talk to him on the subject but alas I had to work at work lol.
In closing he suggested anyone who has extra money to invest it in houses before the dollar takes a downturn , he said you may have to wait 5 or ten years to see a real return but that the investment right now will be a smart choice because the prices will be right. |
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I wonder about this, too. Ron Paul is against the "bailout", "rescue" plan. I never took Economics, and can't pretend to understand the issue at hand. But, my sense is(and the view of many others) is that this system that has caused this is either broken or corrupt(or both). To try to solve the problem staying with this system(Wall Street) is fundamentally wrong. Apparently, this $7 billion could be put into a different fund for creditors: Once again, we have been shown just how ineffective and useless our federal government has become. The founding fathers set up our present system with the thought that our legislature would be a citizen legislature, comprised of ordinary citizens who would take some time out of their jobs to come to Washington, legislate and then go home again. Unfortunately what we have has become a separate class of professional politicians. Thomas Jefferson once wrote, "Whenever a man has cast a longing eye on them (offices), a rottenness begins in his conduct." And what we have is 535 rotten apples running our country. Anyone who has paid any attention to anything that is going on cannot help but to become aware that politicians on all levels, particularly on the federal level, once elected, devote virtually all of their time and efforts on getting reelected. And why not? They get great pay, the best medical plan in existence, and a retirement plan that's obscene. This has led to a system that is broken down. Take Medicare, for instance. All indications are that it will be bankrupt in less than 10 years. Have our "representatives" done anything about it? What about Social Security, which will be bankrupt in 30 to 40 years? Will anything be done about it? The answer to both the questions is a big no. Why? Because our lily-livered professional politicians are afraid to Advertisement offend any of their constituents in the short term, disregarding the fact that in the long term they are dooming us and our descendants. Instead they will do the same thing they are doing now during the financial crush. They will wait until the last moment and try to jerry-rig some nonsensical plan which, once again, may work in the short term, but not for the long haul. So what's the answer? Well, term limits might be an idea, but these jokers will figure out some ways around this. I think it's time we think about what I have been talking up for years. We need a revolution. Jefferson said, "The tree of liberty must be refreshed from time to time with the blood of patriots and tyrants. It is its natural manure." Now I'm not necessarily talking about taking to the streets and spilling blood, but it might come to that. There are, however, less violent ways to change things. Personally, I think the easiest and best solution is to change our form of government to a parliamentary system. That way multiple parties could be represented, coalitions could be formed, and when the government screws-up like it always does, there could be a no-confidence vote and we could throw the rascals out and bring in a new bunch of rascals. But, there is little to no doubt in my mind that continuing along our present course will bring us nothing but disaster after disaster. Bob Fagelson, Brattleboro, Oct. 1 Truth and reconciliation |
Tax the poor, pay the rich
Reformer.com Wednesday, October 1 Editor of the Reformer: G. W. Bush suddenly resurfaced to urgently address the financial crisis -- the one we've watched these 18 months. Never mind that last spring he told people losing their homes that there would be no help for them. Now he offers us the most impressive tax increase ever (home-losers included). In the 11th hour of his presidency (coincidence? I think not), Bush is taking a final swipe at the middle class by asking for, essentially, an unprecedented hike in our taxes to bail out the super rich. But wait, there's more. He is not asking the investment industry to give anything back. Rather, I suspect a good portion of this $700 billion would fill the black holes left by golden parachutes. And neither Bush nor McCain are proposing a change in the tax cuts to those super wealthy. Utter disbelief is appropriate here. This is without precedent, immoral, and as bad as it sounds. Tax the poor, pay the rich. There is an obvious solution. Let these companies fail like we let poor people fail every day. Meanwhile, now that this crazy sum of money is on the table, let's use it to start a taxpayer's bank -- countries in Europe are doing it as we speak. Bush and Paulson claim the reason for the bailout is to maintain a flow of credit in this country. Who says it needs to be from Wall Street? Forget Wall Street. We can borrow from ourselves, and get the interest back. Maybe we can even get this country Advertisement back to where we were 8 years ago -- in the black. Rebecca Jones, MD, Brattleboro, Sept. 29 |
Finally You Fools Are Getting It!!!!
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Fix The Godammity Typing Machine In Here...Steeeeve!!!!
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voting should begin in about half an hour on the bailout. but isn't this deal more expensive than the one shot down on monday??
and why the accusations towards pelosi that her speech on monday was too partisan, and that was why the bill was defeated? why should it matter if it's partisan or not, if it's the right thing to do, how utterly stupid to delay what could potentially jump start our economy. and congress wonders why their approval rating is so damned low. |
What A Bunch Of Goosi!!!!
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Sunnybi!tch!Fix This...Steeeeve!!!!
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We need to talk about your TPS reports
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ror!!!!
Get outa heah ,Lumberg! |
YEA.......we're gonna need to go ahead and move you downstairs into storage B
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