Elite From Hong Kong SAR, PRC, joined Jun 2006, 1612 posts, RR: 3 Posted (3 months 1 week 3 days 23 hours ago) and read 4150 times:
Congress is going to vote whether or not to let this plan go ahead, but with backing from the President and both Presidential candidates it is likely that the bill will be passed.
So here is the question: What is your view on the bail out plan? Is it putting the burden of the mistakes made by Wall Street on Main Street or is it necessary to stabilize the markets?
MD80fanatic From United States, joined Apr 2004, 2335 posts, RR: 11 Reply 2, posted (3 months 1 week 3 days 22 hours ago) and read 4131 times:
Quoting Elite (Thread starter): Is it putting the burden of the mistakes made by Wall Street on Main Street or is it necessary to stabilize the markets?
Yes and no, respectively.
The only way to go from here is to dump the Dollar and embrace the Amero. (of course this has been the plan for ten years).....and this financial "crisis" is precisely the event that will convince frightened and poor America to surrender her last hope into the hands of an already planned and established North American Union.
DL021 From United States, joined May 2004, 10983 posts, RR: 89 Reply 3, posted (3 months 1 week 3 days 22 hours ago) and read 4112 times:
For starters it needs to not be billed as a bailout.
We're buying a package of notes that are expected to be 95% fully paid, and the rest will have real value due to real estate, and we're buying them for less than 50 cents on the dollar. How can it not make money?
Quoting MD80fanatic (Reply 2):
The only way to go from here is to dump the Dollar and embrace the Amero. (of course this has been the plan for ten years).....and this financial "crisis" is precisely the event that will convince frightened and poor America to surrender her last hope into the hands of an already planned and established North American Union.
You may find the concept of the Amero to be puzzling now.....but rest assured that you and the rest of America are being skillfully manipulated into accepting a supra-national currency (similar to the Euro) in the very near future.
You may say "No Way" now....but later (when your homes and businesses are at risk) you will say that it was necessary and good.
Seb146 From United States, joined Nov 1999, 5208 posts, RR: 15 Reply 6, posted (3 months 1 week 3 days 20 hours ago) and read 4061 times:
Quoting MD80fanatic (Reply 5): are being skillfully manipulated into accepting a supra-national currency (similar to the Euro) in the very near future.
I thought they gave up on this plan in the past year or so. I have not heard anything more about it since the Mexican government was in talks to build a highway through the Midwest and terminal near Kansas City. I thought talks fell apart and Canada does not want any part of it, either.
Now, answer me this: Why can we not let the markets correct themselves? Isn't this just a correction in the market? Like before when the average American was having their house foreclosed? Why can the government not give the $700 billion to the average tax payer? Why can the $700 billion not go to those who were more or less scammed by the preditory lenders and who have lost their homes? Why does the $700 billion have to go to the ultra rich who got bonuses for handing out these loans?
AGM100 From United States, joined Dec 2003, 2527 posts, RR: 11 Reply 7, posted (3 months 1 week 3 days 20 hours ago) and read 4060 times:
What the hell is the deal with all this "union stuff" the Dems are putting on this Bill. Union Bail out or something .. ??? Payoff to union run organizations ? WTF ? They killed the 120 billion to the radical ACORN group , now its going to some union outlet. God the Dems just cant stop can they ?
I called both my congress men and told them to ...
Baroque From Australia, joined Apr 2006, 8213 posts, RR: 29 Reply 9, posted (3 months 1 week 3 days 20 hours ago) and read 4056 times:
Quoting Seb146 (Reply 6): Why can we not let the markets correct themselves? Isn't this just a correction in the market?
Probably because if you do not prop up this 700 billion part, some of the rest of the 41 trillion debt house of cards will come tumbling down.
You don't want me to list the next in the queue do you? A number of writers in the financial columns have already done us this "service".
One that is not next but is still hanging over a number of markets is the fate of many of the exuberant private equity (read bank loans) buy outs of the last two years. That could start to tear at the industrial fabric of a number of nations.
AGM100 From United States, joined Dec 2003, 2527 posts, RR: 11 Reply 10, posted (3 months 1 week 3 days 20 hours ago) and read 4049 times:
Quoting Seb146 (Reply 8): Unions are just awful. I hate that unions help give us child labor laws, a 40 hour work week, overtime pay. Let's get rid of unions....
Like all things human .... the roots were well intended . But now we have very powerful organizations who essentially embezzle and payoff political players. We have a party who is completely beholden to these powerful groups. Unions have become nothing more than Political Action Committees who pick and choose what candidate the members "should consider voting for " or of course lose there job.
StuckInCA From United States, joined Oct 2005, 1145 posts, RR: 1 Reply 12, posted (3 months 1 week 3 days 19 hours ago) and read 4021 times:
I'm certainly no economist, but wouldn't it have been better, in hindsight, not to give everyone in the US an "extra" tax refund this year? The estimated cost of that is $276 billion.
Then there the Bush tax cuts. All while increasing spending and growing government.
making the tax cuts permanent would reduce federal revenues by almost $1.8 trillion over 10 years — and that's in addition to the $1.7 trillion of revenue losses already locked into law. By 2014, the annual revenue loss would amount to $400 billion, or 2 percent of gross domestic product — almost the size of this year's federal budget deficit.
Obviously one or both of these likely have some stimulating qualities, but it seems that as our nation is operating way in the red this doesn't make sense.
Seeing how upset people are about the government committing to spend $700 billion, I wonder why more of those people weren't upset about the government spending it on them when they didn't have it to spend.
AGM100 From United States, joined Dec 2003, 2527 posts, RR: 11 Reply 13, posted (3 months 1 week 3 days 19 hours ago) and read 4014 times:
Barney Frank , Maxine Water's , Dodd , Jefferson , and every democrat defended the FM's against a Republican lead hearing about them in 2007. Limbaugh has the audio on his show today , " Quote of the day" Barney Frank saying he see's nothing in the report to suggest the FM's or there leader ship have anything top worry about.
( meanwhile they were paying 120 million in fines for overstating earning's)
Maxine Waters screaming that the GOP was trying to "lynch" the "outstanding leader" CEO of Fanny Mae because the panel raised concerns about his accounting mis handling.
Now these people are trying to coming up with a plan .... Please.
AGM100 From United States, joined Dec 2003, 2527 posts, RR: 11 Reply 16, posted (3 months 1 week 3 days 18 hours ago) and read 3998 times:
Quoting PPVRA (Reply 14): Looks like it is not passing!
It shouldn't , no confidence will be gained by having uncle Sam loan the system money. Investors want to see that our system can "fix itself" and it can. The problem is that there are some political "golden calves" that are going under the knife ... and I say do it.
We may crash , but if we involve government as a aspirin the headache will just come back.
I just hope they don't decide to spend 700bi in other ways. Billions have already been used to bail out these institutions too, without ever consulting congress, and who's to say this won't continue. . .
"If goods do not cross borders, soldiers will" - Frederic Bastiat
StuckInCA From United States, joined Oct 2005, 1145 posts, RR: 1 Reply 18, posted (3 months 1 week 3 days 18 hours ago) and read 3975 times:
I would surely think that spending $700 billion at even just a chance at sparing the possible economic carnage that may come if it doesn't pass would have been a better use of money than Iraq was. Iraq didn't really get us anything.
I don't like the idea of a bailout but what, really, is to gain by it not passing? Sticking it to 'em?
If the prognostications come to bear with regard to it not passing, it'll be all of us that aren't rich who'll be hurt by this.
Hearing people like Limbaugh railing against it make me scratch my head. What would he lose if the economy went completely completely into the shitter? He presumably has his wealth in "safe" positions and will just sit back and take more prescription meds while the rest of us slip further into the economic abyss.
It would also be great if people would stop being so focused on who to point fingers at. We can do that over the course of the next decade. Right now it's time to figure out how to keep our heads above water.
I have a strong suspicion that lots of the common people so opposed to this because it is "socialist" will be begging for government support if and when they are unemployed.
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