Do you agree or disagree with this bail-out idea.....

[perc-o-prince]

HEY!!!!!!!!!!!!!!!!!!!!!!!!

I did a little digging and found a site for petitions! Here's a petition to sign, for anyone who would like to. If you can suggest different wording, please post it for me!!!

Chuck

Petition No bailout of rresponsible borrowers/lenders

As an American taxpayer, I do not wish to fund the bailout of those borrowers who were irresponsible enough to borrow money for properties they could not realistically afford, all things considered. Nor do I support bailing out the lenders who irresponsibly gave these buyers credit.

www.ipetitions.com

 

[toggleswitch2]

Patriot first, then political party affiliation.....

Agree or disagree.

Let's put it this way..do we have much of a choice? Derivative "securites" that include bundled up mortgages (even to a small degree) are now apparently undermined.

Restoring faith and confidence to the American markets and American securites appears to be vital.

Sad that this bail-out is becoming politically tainted by the political parties. Perhaps I am naive, but surely there has to be just a few options that are best for the country overall....and that both "sides" can come to a reasaonble agreement.

I don't have the stomach to follow this all and took a break from the news this weekend. What is the status?

 

[jeffg]

Henry Paulson's 3-page extortion was "negotiated" to 100+ pages. We will be insuring some mortgages instead of buying them. Very limited equity sharing for taxpayers. Corporate execs can receive up to $3,000,000 in compensation for their mismanagement and greed.

As for "politically tainted", Bill Clinton was impeached for lying about a blowjob. Imagine if he had gone to a rabid Republican Congress and demanded $700 billion to bail out his Wall Street friends, and insisted our economy would collapse if he didn't get it.

Henry Paulson is not a neutral party in this abomination, and the proper response to his extortion is immediate initiation of impeachment proceedings against both Bush and Cheney. The American people would certainly support it at this point.

One other concern is that this might just be a ploy by Bush to get additional funding for more war crimes.

 

[bajaespuma]

Oh no! Take me home and shoot me!

I don't see how the Bush Administration, or Congress, for that matter, that has already proven itself clueless, or worse, in economic planning and policies, should be trusted to craft, in such a short time, any bailout plan that has could have such far reaching consequences. I don't want Bush or any other Republican to be able to use this as a spin instrument to say, "See, we stepped in and wrested control of the economy to save it from you irresponsible over-spending Democrats" Their constituents are already too stupid to remember that the party they are "wresting control" from is their damn selves!

 

[retro-man]

Just saw the headlines

The house did not pass the bail out spending this afternoon. Now we shall see what happens. Stock market is not doing well after this news this afternoon.
Jon

 

[toggleswitch2]

So when do we start learning German, Chinese and Russian?

Boy oh boy. Things are sure getting interesting around here.

 

[frigilux]

You know who just rejected the bailout? House Republicans, that's who! The Dems promised 140 and delivered 141 votes; The Republicans managed only 65.

Although the Republican spin has already begun (It's Pelosi's fault---she's the one who led all those Republicans astray!), there is no denying this: House Republicans have revolted against their own president/administration. Can you even imagine something like this happening four years ago?

 

[gansky1]

I don't think there's much spin that can be put on this - I'll bet the McCain campaign is gripping the edge of the table with white knuckles trying to figure out how to spin this in their favor but it may be too late. His clown-act last week of suspending his campaign and rushing to D.C. to bring everyone together just blew up in his face (again) and then we have the V.P. debate in a few days. A perfect storm?

 

[jeffg]

I'm trying to figure out why Republicans are trying to blame Democrats for defeating this "rescue plan", rather than take credit for defeating it. Logically, not to mention politically it makes no sense at all. This bill was hugely unpopular among the American people.

Neil Cavuto had a great comment after the vote: "Maybe this is a good thing. If Wall Street wants to have a hissy fit, let it have a hissy fit."

I couldn't have said it better myself. If banks want to stop extending credit, and cut off their noses to spite their faces, it's entirely their choice.

 

[peterh770]

Shoot, 1/3 of the Democrats didn't vote for this bill! Pelosi can't even lead her own. Worst Congress EVER.

 

[jeffg]

Last I checked, Peter, 2/3 is a majority.

The Democrats promised 1/2 their caucus, they delivered 2/3.

The Republicans promised 1/2 their caucus, they delivered 1/3.

 

[peterh770]

Pelosi said that "we have enough votes". She didn't. Had she had her own, it'd be a different story right now.

I love Suze Orman on CNN now. Smart lady.

 

[jeffg]

Ok, I'll sit and wait while y'all figure out a way to blame Bill Clinton for today's vote. ;-)

 

[mihi]

bail-out fails!!!!!

Yes!!!!!

 

[andrewinorlando]

And just look at the effect this has had on global markets, not just here. UK bank takeovers, etc....when it rains, it pours!!! Unfortunately, a horribly necessary evil.

 

[jeffg]

It was the first time in ten years where my partner, a lifelong Republican, and I both applauded a vote in Congress. It took real balls to call Bush's bluff, but they managed to do it.

Hopefully negotiations on this welfare For Wall Street, this attempt to make Bush King of America will break down entirely until after his ass hits the sidewalk in January.

 

[toggleswitch2]

I don't understand why the Republicans don't appear to want this bailout (or whatever it is to be properly called)to go through.

Do they want a different version or none at all?

IS NOT having action taken an option?

(PLEASE KEEP IT CIVIL OR DON'T BOTHER ON MY ACCOUNT!)

 

[peterh770]

Mostly because the Republicans are getting hammered by their constituents that DON'T want the bail out. Elections and all that...

 

[toggleswitch2]

Ok, sorry but I am very apolitical and don't see why it would NOT be wanted by the constuents. Please clue me in.

I get that this is a huge burden to taxpayers.
I get that the G.O.P. is not one for regulation or interfering in business markets.

What bit of logic am I missing here? Why would we not want to stabilize the domestic markets and faith in our paper securies?

This part I DO understand. Did no one see this coming as it eased its way into being? Did it take a crisis and a panic to set our law-makers and "leaders" into action?

I was TRULY not impressed that during the presidential debates one of the candidates just about promised cuts in everything EXCEPT defense. War-mongering doesn't work for me.

If we must spend on defense to bolster the economy, then perhaps every soldier should be trained to put photovoltiac solar panels on roofs. Have Uncle Sam give everyone in the country one.

This part I DO get, every time oil prices get sky-high our economy shuts down to a greater degree.

RANT OVER.

 

[Unimatic1140]

This is going around the net, I would be for this LOL...

I'm against the $85,000,000,000.00 {BILLION}bailout of AIG.

Instead, I'm in favor of giving $85,000,000,000 to America in a We Deserve It Dividend.

To make the math simple, let's assume there are 200,000,000 bonafide U.S. Citizens 18+.

Our population is about 301,000,000 +/- counting every man, woman and child. So 200,000,000 might be a fair stab at adults 18 and up..

So divide 200 million adults 18+ into $85 billion that equals $425,000.00.

My plan is to give $425,000 to every citizen 18+ as a We Deserve It Dividend.

Of course, it would NOT be tax free.

So let's assume a tax rate of 30%.

Every individual 18+ has to pay $127,500.00 in taxes.

That sends $25,500,000,000 right back to Uncle Sam.

But it means that every adult 18+ has $297,500.00 in their pocket.

A husband and wife has $595,000.00.

What would you do with $297,500.00 to $595,000.00 in your family?

Pay off your mortgage - housing crisis solved.

Repay college loans - what a great boost to new grads.

Put away money for college - it'll be there.

Save in a bank - create money to loan to entrepreneurs.

Buy a new car - create jobs.

Invest in the market - capital drives growth,

Pay for your parent's medical insurance - health care improves.

Enable Deadbeat Dads to come clean - or else.

Remember this is for every adult U S Citizen 18+ including the folks who lost their jobs at Lehman Brothers and every other company that is cutting back. And of course, for those serving in our Armed Forces.

If we're going to re-distribute wealth let's really do it ... instead of trickling out a puny $1000.00 ("vote buy" ) economic incentive that is being proposed by one of our candidates for President.

If we're going to do an $85 billion bailout, let's bail out every adult U S Citizen 18+!

As for AIG - liquidate it. Sell off its parts. Let American General go back to being American General.

Sell off the real estate.
Let the private sector bargain hunters cut it up and clean it up.
Here's my rationale. We deserve it and AIG doesn't.
Sure it's a crazy idea that can "never work."
But can you imagine the Coast-To-Coast Block Party!
How do you spell Economic Boom?

I trust my fellow adult Americans to know how to use the $85 Billion We Deserve It Dividend more than I do the geniuses at AIG or in Washington DC .

And remember, The Birk plan only really costs $59.5 Billion because $25.5 Billion is returned instantly in taxes to Uncle Sam.

Do the math with the 700 billion they now want and you'll really get sick to your stomach.