Congress Nears Historic Vote on $700 Billion Bailout Plan for Wall Street
The measure, which could pass this week, would redefine the government's role in the economy
Reader Comments
Bail out
I have not heard one person offer up the solution of selling GOVERNMENT BONDS to raise the money. During WWII people bought WAR BONDS to fund the war, and GOVERNMENT BONDS are sold all the time to build highways, schools, etc. Government Bonds would be the guarantee taxpayerd money will be paid back-with interest. The sell of the bonds would also stimulate trading on Wall Street.
Bailout
I hope Barney Frank chokes on his own stupid, oversized, socialist tongue.
Bailout
Obviously regulation is needed to establish the rules of play. To use an example, in the game of football, you are free to chose any play you want...run, pass, punt, kick, etc. on any down with the intent of scoring points or preventing the other team from scoring. The game is not perfect, but if you take away the rules (that is, no offsides, no grabbing face masks, no hitting recievers before they touch the ball, etc.) the game decends into chaos. The deregulation that started with regan and continued right up thru this current President caused the problem we are expierening today. Our Government needs to establish rules and regulations to govern fair play to prevent against future decents into this financial chaos. One Candidate (Obama) suggests this, the other makes his claims on more deregulation (McCain). You can guess who I am voting for...
In regards to the bailout...it stinks. But if we do not allow this to happen, banks will no longer be willing to make loans. Banks will make loans based on the collateral offered to secure the loans. If what seems that almost every other piece of property on the street is foreclosed on because of the crisis, property looses value and banks will have a hard time calculating values to make loans. If there are no loans, the economy crumbles. Ask yourself, what if my employer can no longer access the line of credit they have to finance my payroll? Essentially, I am out of a job. I now cannot pay my mortgage. I loose my house too. The situation worses drastically. People spend less because of the crisis. If companies are not making money, they are not spending money. If companies are not spending, not only do we lose the house markets, we lose the job markets. And yes, this may very well mean you, your family, your friends, and anyone else who has made their lives what they are by working hard.
It is a 700 billion dollar bailout of Wall Street. It Stinks. But if it does not happen, the reality is that Wall Street will not be the only ones hurting. At least the people who caused this crisis already made their millions, so they should be pretty safe either way (sarcasm).
We will have this for a long time. Our children may have it. But is it worth the risk to chance not doing it? You decide. But rest assured, it is not only Wall Street that is going to be really hurting if the results go the way they seem to be going.
Bailout
I urge that our Representatives stand against the socialistic solution to this bailout, and stand on the side of converatism. If you do not stand up against the corrupted, unethical, greedy behavior of those responsible (politicians and corporate executives), then Freedom and America has lost!!
BAIL OUT
I CAN NOT BE HAPPIER THAT THE BILL DIDN'T PASS
THE SENATE AND THE HOUSE WORK FOR THE PEOPLE AND NOT THE BANKING CEO.
LET THE STOCK MARKET TAKE CARE OF IT SELF. IF THE BANKER MAKE MISTAKE LET THEM FIX IT THEM SELFS.
TELL THE CEO TO TAKE A PAY CUT AND SAVE THERE BANKS.
IT IS ABOUT TIME THAT WASHINGTON GET A SET OF BALLS AND HELPS THE PEOPLE.
MY CHILDREN WONT BE PAYING FOR THIS.
Realtiy
We as country put our selves in this problem that we are in. We allowed house prices to get way out range on prices, and allowed builders to just keep building more and more. We also keep charging and charging more, we need to get back to reality and learn that unless you have the cash to pay for it you don't get. We have become a wimpy nation because we expect someone to always help us out of problems. Its time to have a little hardship for what we have done to our selves. We may to roll up sleeves and work one or two jobs to have what we want. And work jobs we think we are to good for.
Bailout
Congress is inadequately informed and succumbing to panic tactics, just as it did when President Bush sold them the war on Iraq. This time they are giving away our democracy to the unelected Treasury department and writing a blank check with our money.
Skip the bail-out.
STOP THE BAIL-OUT, IT WILL JUST PROLONG THE PAINFUL DEPRESSION WHICH IS COMING AND TRIGGER MASSIVE HYPERINFLATION!
Bail out
Stop the BS. Stop the bail out! Wall Street does not need help. My 4 yr old does not need a credit card!
bailout
This so-called bailout help will cause hyper-inflation, and the depression will come along with it afterwords. Even worse than that, the government is buying up America. We'll be more Socialistic than China or Russia.
