Is the House GOP Correct to Resist the $700 Billion Plan?

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Aimprison of 2:23PM December 05, 2009

I CANT GET ANYONES E MAIL ADDRESS TO WORK EXCEPT YOURS PLEASE TELL LOU DOBBS HIS COUNTRY IS NOT A DEMOCRACY WHERE MAJORITY RULES ITS A REPUBLIC THE DIFFERENCE IF 99 PERCENT OF THE PEOPLE VOTED TO SEND THE OBAMAS BACK TO AFRICA THE MAJORITY THANK GOD COULD NOT BECAUSE A REPUBLIC IS A COUNTRY OF LAWS LAW SAYS NO WISH I COULD FIGURE OUT HOW TO GET E MAILS TO WORK TONT MEXICO

TONY MEXICO of 9:04PM October 01, 2008

Once again, the public has been spooked by President Chicken Little and his minions to get exactly what he and his fat-cat backers want...more. It's an insatiable lust for money and power that knows no bounds. In all the hullabaloo, big companies are devoured at pennies on the dollar, and after all the money the money interests have made creating and trading these highly leveraged mortgage-backed securities, they now want us to cover their losses.
And anyone who argues that it is just this administration, or just one party in congress driving this does not understand the power of greed and fear, greed of the wall streeters, their lobbyists and key government officals, and the fear they can whip up in the population that drives the rest of government to fall in line.
Any minor changes to the timing of the bailout, promises of taxpayer security, future regulation and payback, are just window dressing on the main event - bailing out wall street with taxpayer dollars. And other pretty ornaments, like raising the FDIC max to $250K, could be passed separately if truly deemed effective without the rest of the bailout.
You know you're getting the bum's rush when all of a sudden its the eleventh hour, disaster is imminent, and no other option is really discussed. It's the Patriot Act and Iraq invasion all over again. And they do it because it works.

Steve of NJ 4:53PM October 01, 2008

What a novel idea. Stop extending credit to people who can't pay it back! Genius!
But the economy will go into a recession ... people and businesses won't be able to get credit ... the credit markets will be frozen ...
No they won't. It just means that if you can't afford to buy a car, you won't be able to. If you have the money, a regular income, even a good credit history, you will be able to buy a car.
If you can't afford the payments on a home, you won't be able to buy one. No kidding.
For too long, banks just gave away money to anyone who asked for it. Sub-prime mortgages ... let's find a way for people who can't make the monthly payments to get a house and the bank can make money on interest as long as they do pay. And when they can't, the interest will have built up so much that they will owe more than the house is worth.
It's no wonder the tallest buildings in any city have bank names on them.
It's time for some of those names to disappear.
The artificially inflated stock market value will find a point where it should have been if banks extended credit to people with good credit ratings.
Personally, I have had it with credit. I look forward to paying cash for everything from now on.
But the bailout not passing will hurt everyone!
I am getting two promotions in the next two months. I just paid off my last credit card. By 2009, I won't have any debt except for a mortgage. How can things be going so well? Because I am buying things I can afford. My car is valued on KBB at $375. I can't afford a new $30,000 car, and I don't feel entitled to owning one.
If the stock market goes up 28%, investors think they are smart. If it goes down 28%, they demand someone step in and save their money. But isn't it a well known fact that stocks can go up or down? Some can go to zero. It's a risk one takes.
If the government wants to get into the mortgage, banking, insurance businesses ... and if Barack is elected add Health care ... then Congress just needs to wrote a bill declaring the U.S. a Socialist country. If the government controls or oversees all of these aspects of people's lives ... that's what we will become.
It seems like we want to be Capitalists when things are going well, and Socialist when things are bad. My sister-in-law described this type of country perfectly ... "Crapitalist"
But, until Congress passes a law declaring the U.S. a Socialist nation, free markets should prevail and smart businesses can continue operating while those who were built on a poor business model that finally caught up to them will go away.
That's the way things should be. Make smart decisions, succeed. Make dumb decisions, fail. Not make dumb decisions, get rescued and make everyone else pay for your mistakes while you continue to make the same dumb mistakes.

Stefan of IN 2:41AM September 30, 2008

We can stimulate the economy is congress gives the cash to every US citizen over 18. It would be about $500,000+++ per citizen and could be taxed, with balances going to pay off mortgages, 401k plans, credit card debt, etc.
In my experience, and decision made under pressure or hastily done usually does not work. I think it is terrible that alternate ideas from entirely new directions were never considered by congress. In addition, the media is only showing ONE side of the story and not offering BALANCED opinions on the bailout subject.
Why cannot the media delve into the subject and offer up what is being suggested at the grassroots by US citizens instead of Wallstreet supporters trying to keep their jobs the easy way--bailout?
The more we borrow, the deeper the whole we dig. Meanwhile, China is holding money reserves for future opportunities and we keep buying their products to help their cause.

SmartThouights4U of CA 2:29AM September 30, 2008

Stop the bailout - minimize installments if needed. The democrats caused this economic mess insisting people without money get houses - now the bill is on our backs. Who is going to pay my mortgage???? Obama, Pelosi and Reid owe us the money. Democrat economic fixes - the responsible, working middle class pays for the lazy, irresponsible to have a house. What next?? No guns, no money, no insurance, no life. Goodbye America - welcome the Obama change - poverty for ALL.

Sara of 11:12AM September 29, 2008

I think the Republicans need to STOP this Bailout package. Let the markets reset. " Listen to the people....WE ARE NOT FOR THIS!

Shari of CO 10:08AM September 29, 2008

This is the same as stealing from the taxpayer. This is a terrible idea. EVERYONE in thhis country should be angry and disgusted enouh to write their conressmen and senators and STOP this catastrophe. They are pushing this down our throats and not really looking at it. These politicians usually can't et anythin done, but this? c'mon, something real fishy going on and it STINKS. AMERICANS< WE HAVE TO STOP THIS BEFORE IT IS TOO LATE!!!!!!!!!!!!!!!!!

Steve Owston of OH 1:07AM September 28, 2008

We need a national debate with experts participating, not candidates, to give their ideas on how we really got into this financial mess. This needs to be done before the election!

Marie of TX 9:05PM September 27, 2008

One way or another the taxpayers will end up paying the bill, it simplly needs to be done. The question remains how do we punish the people responseable. One take their net assets, they made money off the people who could least affort it. They will claim it is unfair ,but so is asking the taxpayer to pay for their mistake. two If possible many of the people responseable need to serve jail time. three We as a people need to look at how we spend and control money, and who we put into positions of power, many of us laugh at who is in office , don't vote, which only continues the overall problem in this country, and around the world.

henry Krolikowski of IL 6:54PM September 27, 2008