$700 billion financial bailout

[u_say_go]

I'm a retard when it comes to understanding this crap....without getting too political and without going too far in depth, what exactly does this "bailout" mean? They say they're trying to help homeowners...how?
http://www.msnbc.msn.com/id/26803347/

[lordairgtar]

Gumment gives money to company what can't run they bidness

[Adam Brooks]

I read the article,it think its horrendous how they're trying to spin this making it sound like they're trying to help "the taxpayers" or home owners.

this bail out is to take over debt that will never be repaid that corporations took on to try to get rich. They will take over up to 700billion to keep these financial institutions alive to that the entire financial system in America doesnt collapse.

the 700billion (that our gov doesnt have) is going to come from us the taxpayers and home owners.

if youve got some time listen to this discussion
http://www.thedisciplinedinvestor.com/blog/2008/09/20/andrew-chats-with-john-c-dvorak-looting-the-american-coffers-discussion-about-the-stock-market-weirdness-predictions/

[2006wrxtr]

Somewhere; Somehow this will come out of our pockets.

Hey George, I bought way to much car and can't make the payments anymore, think you could help me out?:rolf

[95mustang302]

this is seriously the gayest thing EVER, I am so sick of the taxpayers having to bail out greedy people for stupid decisions.

I think its hillarious how much the republicans in office right now are EXPANDING the size of the government. Absolutely, and utterly retarded...

[Al]

I say "let them collapse!"

It's not like we have not heard them advertise over the radio and TV for the past few years.

I made a prediction to some of my friends that this would happen at the beginning of the summer, but I expected the problem to not happen for a few more years.

[subliminal1284]

And yet there are actually people who are going to vote for bush's third term, aka McCain.

[Adam Brooks]

this isnt a democratic or republican issue actually. BOTH parties are going along with this bs. i'm just floored that the free markets are longer left to be free.

Imagine how we'd feel if baseball was manipulated so the Cubs always won. Our gov is doing the same thing to keep shitty companies afloat

[subliminal1284]

Yeah its absolute BS, Let them fail survival of the fittest. Now companies arent going to learn from their mistakes and be more responsible to prevent something like this happening. Now they think worse comes to worse the government will give us money.

[Sprayaway Fox]

I heard a news station say 48 percent of americans pay in less and get more back. That is fugged up. I hate going to a food shelter and seeing a guy in a Escalade grabbing the food I prolly donated. So fuggit No more donations fo me! Die slow mo fo.

[subliminal1284]

That is the reason why he is at the soup kitchen, lots of people especially ghetto people will spend every last cent of their welfare check on a nice car and still live in a slum in the middle of the ghetto.

[CobraSnake]

wow I really hate this shit. I just heard about this yesterday. What ever happened to the land of the free?? People used to come to america because of freedom?? WTF is this shit Adam was right that the government doesn't have the money. We are going to be paying that shit in our taxes that they are going to raise. Land of the Free yeah ******* right. Yeah you have the freedom to do what you want right?? The government says yes you do but in the process pay for these low lifes and these people that can't make it. So its the land of the free so I decide, I'm not going to pay those extra taxes. Well now I go to federal prison because its the land of the free??? Wow I think i'm moving to europe or something.

Mark

[subliminal1284]

I always thought it was funny how we left England to get away from taxes and now we are taxed up the ass.

[Adam Brooks]

now we're toying with the idea of doing another stimulus plan alongside the bail out which will increase the 700billion mark.... and guess who'd pay for the stimulus package... yes!
http://www.marketwatch.com/News/Story/Story.aspx?guid={C107DC6D-03B6-4287-AD0D-5FD67819FC86}

[Cjburn]

At one point in America's history we were so against taxes and irresponsible spending by our government that we started a war about it. Now we have the socialist left in this country tell us it's our patriotic duty to pay them. What a f'd up time in American history this is...

[Adam Brooks]

Absolutely correct. There is a very very very F'd up time in global history, the capitalistic nation we once had is literally turning into a socialist one. Everyone wants a hand out. For some reason we've got the idea that everyone needs to win, in real life the winners win and the losers loser. That's the foundation of capitalism and free markets. You could start a company in your garage and hit it big. Now the big guys fail miserably and get a 2nd chance and the tax paying public pays for it.

I'm writing our senators this is unbelievable, cant believe we're going to pass this crap in congress

[Adam Brooks]

http://www.federalreserve.gov/newsevents/press/bcreg/20080921a.htm

Goldman Sachs and Morgan Stanley are now bank holding companies.... there are no longer ANY independent investment banks in the country. The gov is making sure they do not fail. What this meas is that they will be way more regulated and it will be harder for them to make or lose money

[Adam Brooks]

heres what i wrote if anyone wants to do the same: kohl and Feingold are our senators. can be reached: feingold.senate.gov/contact_opinion.html and kohl.senate.gov/gen_contact.html


Dear Senator Kohl:

I am writing to ask that you filibuster the upcoming 700 billion dollar bail out plan for two reasons.

First, NO burden of any financial institution’s failure should be put back onto the tax payers. It is completely unfair that the American public bails out banks that have made bad loans. This bill will not help to reduce foreclosures or any existing home owners, it will only help to keep alive the poorly ran companies on Wall Street. They rolled the dice, took on debt that could never be repaid to profit, and they lost. That is not the public’s responsibility. In a true free market, which this country was founded on, they are left to fail.

Second, section 8 of the bailout is again the Constitution of the United States of America. It reads:
“Sec. 8. Review.
Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency.”
This will allow our Treasury to act above of our laws and the Constitution.

I sincerely hope that you filibuster the upcoming bail out plan. If you do vote for this bailout, you will certainly never have my vote again.

Sincerely,

[fivonut]

Yeah its absolute BS, Let them fail survival of the fittest. Now companies arent going to learn from their mistakes and be more responsible to prevent something like this happening. Now they think worse comes to worse the government will give us money.

and the same goes for people, right??????