Congress Demands a Blank Check for Bailout

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The government is essentially starting a business to buy securities and re-sell them later. The title of the article "Blank Check" is misleading because it implies we are giving money away.
This new business will buy securities and take ownership in banks.

shad sluiter 11:06AM October 03, 2008

Failed mortgages should be auctioned instead of bought by the government. Of course it will lower property values in the short term but will also supply th market with affordable housing and or investments. Why must the government buy these properties??? The bailout simply buys the properties at inflated values to keep investors happy while hurting the economy, homebuyers, and market equilibrium. Yes, the investors will be hurt by the losses but better the investors who gambled than the nation who didn't. That's why they call it investing because they bought a stake in something hoping it would pay off and when it didn't they lose. It's called RISK and it drives markets and without risk, markets die!!!

Ray Fisher of NM 12:20AM October 03, 2008

Lock 'em up - whoever votes for this is not an American. They are greedy morons who have it on easy street and are playing us for suckers. When do we draw the line and say: "Enough already its time for the "kiddies" to come in from their playing and take a nap while the grownups talk.

ken G of CA 9:45PM October 02, 2008

I hope the rest of this country is as motivated to change its leadership as the three of you suggest. Problem is that voters forget and their apathy prevents any real change.
Consider this --- how long have Pelosi, Reid, Frank, Dodd, McCain, Stevens etc. etc. been in office? They've all done such a disservice to this country yet they continually get re-elected. Long standing incumbents would literally have to commit some heinous violent crime on live television to jeopardize their chances of not being re-elected. Alas, voters in this country just don't care enough to change the status quo no matter how abused they are.
The only alternative will be armed revolt, when class disparity is so wide, that desperate people will have no other choice than violent protest ala WTO protests.

n1njabot of CA 7:48PM October 02, 2008

All these senators were patting their own backs about voting on this giant "rescue bill" but they didn't vote on it until it had enough "sweetners" and "pork" before signing it saying they wanted to do it for "us" america. Is it true that it includes a provisions for useless things that have nothing to do with "us" the middle american. What about our credit card debts and the power the credit companies have to exploit us with high interest rates and never being able to pay it down? Yes, I think we should keep a record of every senator and representative who have voted for this crazy "rescue bill".

KATE of AZ 7:47PM October 02, 2008

Staged "debate" dance now ready for 24/7 consumption -
Bailout Barack Obama w/partner Bailout John McCain.
Full-spectrum media suppression/distortion
target Ralph Nader and Ron Paul.
Your vote is your power,
they fear it, use it.

Washington University '81 of IL 6:25PM October 02, 2008

And make sure they aren't reelected to office again.

Fatesrider of CA 5:43PM October 02, 2008

Richard Nixon, in murdering the last link of the dollar to gold, quipped that, "We are all Keynesians now."
Well Keynesian distortion of economic reality is no longer accepted as fact.
As usual, Washington is slow to catch on. The subprime mortgage fiasco was caused by this same reckless behavior.
Why do politicians expect public support of the same insanity that got us into this mess ?
I guess they think we are all stupid. If we let this go, then we are.

Will of NC 4:38PM October 02, 2008

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Congress Demands a Blank Check for Bailout

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Sam Dealey

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