I would like to know the congressmen or senators who put the pork in this bail-out so we can throw them out
Nancy
of FL
@
Oct 06, 2008 09:53:12 AM
Is this the only way?
It seems to me that Congress overlooked tons of options to increase credit facility, without re-rewarding the fatcats that caused it in the first place. Some interesting reading:
This bill is a travesty. It does nothing to help the homeowner. It is designed to help Henry Paulson't friends and associates at the banks and brokerage houses.
Te better solution would have been to provide a government guarantee for the mortgages themselves and provide help for the homeowner.
The homeowner would have been helped directly and the banks and others would have been helped when the mortgages were guaranteed by the government.
The present plan is an extension of trickle-down economics -- pour some money into the top of the economy and hope a drop or two makes it down to the bottom.
We should impeach Bush, throw out Paulson and dissolve the Fed.
Barry
of NJ
@
Oct 05, 2008 15:01:01 PM
We didn't want it...
...and we got it anyway. Democracy in this country really is a "put on".
Decapoe
of NC
@
Oct 05, 2008 13:37:51 PM
The economy was already detroyed before the bailout
Every adult in this country has a responsibilty to protect the economy. They should buy American-made products and capital reinvested in our own business. Instead, we buy products from China, Japan, Germany, Shri Lanka, etc and dollars are flowing in ONE direction out of the US.
I drive on the NYS Thruway 50 minutes each way to work and I am one of the few still driving a Ford. But I know my $35,000 dollar purchase assists in reducing the trade deficit, keeping people working, keeping corporations productive, and supporting the US Economy and US Government.
Since the 70s, US citizens wanted low prices and maximum choice. However, their choice to buy foreign-made is now bringing the economy to its current state. Why is everyone so surprised?
When ENRON failed, I hoped it was an isolated case of power, corruption and leaders who thought they were above reproach. However, I think our government and the financial sector is proving to us that ethics and controls have been ignored for self-serving interests - now the citizens who had no part of it have to pay the price for not paying attention!
Yeomer
of NY
@
Oct 04, 2008 18:57:15 PM
I vote nobody pay taxes this year lets bring this Sh*t House Down
of
@
Oct 04, 2008 18:27:12 PM
vets united
Barack John
Left and rights of passage
Black and whites of youth
Who can face the knowledge
that the truth is not the truth?
Obsolete Absolute
Ron Ralph
Cruising under your radar
Watching from the satellites
Take a page from the red book
and keep them in your sights
Red alert Red alert
paul nader
of IL
@
Oct 04, 2008 15:32:26 PM
The "No-Bailouts Act" that was suggested by Representatives Kaptur and DeFazio may very well have been better able to postpone the "Crisis" without spending $850B of our money, and would have been legal and in accordance with our Constitution; I use the word "postpone" advisedly.
Credit is what got us into this mess and borrowing $850B more will only worsen things. The problems on Wall Street are only an underlying symptom of the real problem. It is impossible to borrow our way into prosperity.
The American people lost something much more valuable than money on Friday.
Gary
of FL
@
Oct 04, 2008 03:03:04 AM
A little something to think about
Guys - I'm a Realtor, with a lot of mortgage lender friends. Something you need to consider when you point the finger at the banks is that the loan programs through Freddie Mac and Fannie Mae had guidelines, and those guidelines were set by Freddie and Fannie.
If a loan officer denied someone a loan because their gut told them that the person couldn't possibly afford, but they did in fact qualify, the officer would issue the loan OR risk discrimination charges, etc. Should the banks have raised hell? Yah, that's a gimmee.
The bailout is because no one was minding the cookie jar. Oops, that's right, we did have people minding it, but they said everything was okay. Who said that? Look at who benefitted the most, including, drum role please, the second largest recipient of lobbyist money - Obama.
shawn
of NC
@
Oct 03, 2008 22:45:35 PM
bailout
Can't write a response - I am too busy writing my state legislature asking for my own personal credit card bailout. I owe $15,000 in credit cards, much of it used for food, gas and clothing over the last few years, but only make $12.00 an hour. WTF - if congress can ask for 850 bill, what's another $15,000 for a poor ole fool like me?
Kirk Shinkle is a senior editor at U.S. News. He writes daily about ups and downs in equity markets, sectors and stocks. Formerly, he covered business and economics on both coasts for Investor's Business Daily.
Nancy of FL @ Oct 06, 2008 09:53:12 AM
Ken Richards of NY @ Oct 05, 2008 17:27:24 PM
Barry of NJ @ Oct 05, 2008 15:01:01 PM
Decapoe of NC @ Oct 05, 2008 13:37:51 PM
Yeomer of NY @ Oct 04, 2008 18:57:15 PM
of @ Oct 04, 2008 18:27:12 PM
paul nader of IL @ Oct 04, 2008 15:32:26 PM
Gary of FL @ Oct 04, 2008 03:03:04 AM
shawn of NC @ Oct 03, 2008 22:45:35 PM
Kay Coffers of WV @ Oct 03, 2008 18:13:13 PM
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