As a long term Democrat I am astonished at how easily Republicans bought into the government's finalized "rescue package." That involves banks receiving 700 billion dollars (more or less) in return for providing the government with equity in those participating institutions. That, folks, amounts to partial nationalization of our banking system and a long stride down the road to socialism. And Republicans went for "THAT ONE?" Who knew? As for what Repubs SHOULD have proposed? Providing for the government to deposit (not invest) that 700 billion in savings accounts at selected institutions (meaning banks considered unlikely to fail). Result? Selected banks get the needed capital to again start extending credit, taxpayer money is deposited (at nominal interest --- perhaps 1% or 2%) so, eventually, it should all come back when the government closes the accounts, AND no "bailout" or "buy in" would be involved --- any more than you do when you make your own deposits. Hence, no journey down that road to socialism, a journey currently being undertaken by Republicans as well as Democrats.
D.S. Arthur
of CA
@
Oct 18, 2008 15:42:42 PM
Concerned Citizen
Dude - we need to free up the capital markets. Sure, the US government is spending us into a worthless dollar by not raising as much as they spend. But the need today is to thaw the capital markets and get them flowing again - because panic has frozen them.
Once they are flowing, let's hope Obama/McCain will actually want change and bring the gov't back under control (sorry, just had to get a good laugh in there).
Stud
of NE
@
Oct 16, 2008 22:14:28 PM
Ah people cease to amaze me!
I cant believe how willing people are to live under Socialism. It boggles the mind. We are a Constitutional Republic and are supposed to have a free market economy. But that cant happen if we let the Government Socialize everything. The total lack of knowledge about common sense economics is a shock to me. I recommend reading the short but true book about economics called: Economics in One Lesson by Henry Hazlitt. This book is used as a supplimental text book in many University economics classes. Please take the time to learn real-world economics and the natural laws that coincide with it. You can read it online at, http://jim.com/econ/contents.html. Or learn more from the Mises Institute or the Campaign for Libery website or many other places that feature Austrian Economics. Capital is savings and we don't have any savings. You cannot create capital out of debt money printed out of thin air. We are allowing the devaluation of the dollar by flooding the system with more fiat currency out of thin air. Also, it would be helpful if people knew more about how fractional banking works and what money really is. You can find that at: http://video.google.com/videoplay?docid=-9050474362583451279
IT's the the best 40+ minutes you could spend learning something important.
Concerned Citizen
of MO
@
Oct 15, 2008 21:30:38 PM
mobile homes
why arent modular homes covered by bailout also they should be
dallas kennon
of IL
@
Oct 15, 2008 19:57:01 PM
How to help out main street
If they want to help main street out, the FED should give
a $ 1,000,000.00 check to every single family filing their
2007 income tax. The very next day, you would see the economy
moving again. This is the fastest way to eject money into the
system.You can not start the construction of a building by placing the roof top, and then the different floor levels.
If main street can't shop for food, house and commodities, how
could money circulate? Manufacturers and producers, they all
borrow money from big banks to feed main street and make their profit margins, and so on.
I want to hear something like that from one of the two candidates to get me exited.
Amos Isaac
of FL
@
Oct 15, 2008 18:29:13 PM
Mortgages
What if I am already late on my mortgage payment, will I get any relief?
William Newton
of
@
Oct 14, 2008 23:33:58 PM
If I put my money in something safe??
When the finacial crisis first raised it's head in August 2007 I moved my investments to a fixed income mutual fund that has mirrored the returns of the 10 year treasuries. In the last week, 10 year treasuries have been going up - even with the expectations of a recession for the next 10 months. Why is this happening?
Julie
of FL
@
Oct 14, 2008 16:20:59 PM
BETTER DAYS
Believe it or not this could be the beginning of our finest personal years. Consider self employment. www.LikeSoup.com
Jim Campbell
of CA
@
Oct 14, 2008 13:34:37 PM
How quickly will the market recover?
How much will I lose in the meanwhile?
Am I willing to wait this long to recoop my money?
Do I trust the money situation to turn "profitable" and not just "recoverable" shortly after the time of recovery?
Based on your reality based, non-hyped/coddled answers,what do you think you should do if you have money in the stock market at this point and time in U.S. history.....hmmmmm.
Tincup@Wallstreet
of NY
@
Oct 13, 2008 23:18:34 PM
should I take it out????
I put in 5,200.00 in and over 5 years it turned into 6,400.00 now its 4,900.00. I have 60% bonds and 40% stock. Should I pull it if I need to have it in the next 5 years???
D.S. Arthur of CA @ Oct 18, 2008 15:42:42 PM
Stud of NE @ Oct 16, 2008 22:14:28 PM
Concerned Citizen of MO @ Oct 15, 2008 21:30:38 PM
dallas kennon of IL @ Oct 15, 2008 19:57:01 PM
Amos Isaac of FL @ Oct 15, 2008 18:29:13 PM
William Newton of @ Oct 14, 2008 23:33:58 PM
Julie of FL @ Oct 14, 2008 16:20:59 PM
Jim Campbell of CA @ Oct 14, 2008 13:34:37 PM
Tincup@Wallstreet of NY @ Oct 13, 2008 23:18:34 PM
Eileen of OH @ Oct 12, 2008 08:07:26 AM
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