Lawmakers, White House agree on $700B bailout

smurf wrote:

Good news... The president said this morning that the $700 billion should help the economy.

That's certainly reasurring, after all, he's got an impeccable sense of judgement, right ?

"Brownie, you're doing a heckuva job"

When an entity goes bankrupt - you, me, Bob's Mini Mart, or Chrysler - any money they paid out in the past 90 days must come back, and the payee must then get in line with all the other creditors who want to get paid. Nonessential expenditures do not get to get in line at all.Suppose the entity is a bank, and the payee was a candidate? Can you see some room for strong motivation to pass this bill? There are more creative and smarter ways to recapitalize the economy if that is the goal, but it seems the goal is for THESE COMPANIES not to go bankrupt.

I wish I were a lawyer. I would sue them. this is the biggest thieft in the history of the world.

strut2k wrote:

Finally an agreement. Now let's get it done. We don't need a depression, or chaos in the world markets.

Actually, I'd like to load up on some currency futures and financial index funds. A little temporary depression isn't such a bad thing...

Palin Boy wrote:

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Actually, I'd like to load up on some currency futures and financial index funds. A little temporary depression isn't such a bad thing...

In other words,bring some gasoline to the fire??

Mad Dog USN wrote:

Something I learned about this bill
I does away with the "golden parachute" per say.
But here's the fine print. It does away with the "golden parachute" for "NEW" CEO's.
If you have been in the position for awhile your golden chute is still good to go.
I don't like that!!!

Did you honestly believe that Washington was going to let those wealthy-beyond-belief CEO's fall on their butts? Not if they can use OUR money to prop them up.

Then why don't we elect a Supreme Court Judge for President?

A Jugde has to be a lawyer, before ever being a jugde; We have, elected so many lawyers for U.S. President in past. If can elect a soccer mom or former gov. for VP.

Who has, no executive experience, No CEO experience. and how many times in U.S. have we done that?

The President does not mean, former banker. a President make good decisions about decision, has the right to Veto. who judge the people who spend your money.

strut2k wrote:

Finally an agreement. Now let's get it done. We don't need a depression, or chaos in the world markets.

No, what we don't need is a stupid baliout that goes against the notion of a self-correcting free market by letting the government (which created the mess in the first place) rush in with some sort of heroic mounted shiny knight that turns out to be a frog!

The markets will correct if we let them. Economics 101. I'm not saying it wouldn't sting, but how can anyone justify saving a credit/debt crisis by assuming more credit/debt?!? That's like getting a credit card to pay off another credit card. It's just stupid.

One wonders when they will stop calling this a bailout or a rescue and start calling it what it really is: the largest transferrence of wealth in human history. NEWS FLASH: people and businesses who couldn't pay their bills before this aren't going to be able to pay them after it's approved and enacted.

http://nowallstreetbailout.com

No one called or came knocking at my door to ask me to take this "extraordinary step." Did anyone out there get asked?
http://www.time.com/time/business/article/0,8...
"Barack Obama seemed at least a little more upbeat. In a statement, he noted that all four principles he laid out last week — increased oversight, taxpayer protections, a provision limiting golden parachutes and measures to help homeowners — were included in the bill. But he added:'When taxpayers are asked to take such an extraordinary step because of the irresponsibility of a relative few, it is not a cause for celebration.'"

Palin Boy wrote:

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Actually, I'd like to load up on some currency futures and financial index funds. A little temporary depression isn't such a bad thing...

More like bring some hotdogs and marshmellows to the fire.

Chicky wrote:

To all the left wing liberals that believe that the republican party to completely to blame for all of our financial troubles. I hate to tell you, but your man Clinton made this so. He made it ok for people who had no financial backing but could put their name on a piece of paper get home loans. Now those loans are defaulting! It is simply the American people, republican, democrat, and everyone else wanting to live beyond their means. Now it is biting us in the Butt!!!

bullshit. the let's claim it was clintons fault people raise thier idiot heads once again. the banks themselves approve bad loans. no one held a gun to thier heads to do so. i'm sure republican deregulation had something to do with as well as anything clinton did but the banks are ultimately responsible for approving bad loans. they gambled and lost now we have to give them a welfare check that's not going to do a damn thing to save the economy. good job there....

Screwed American wrote:

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That's certainly reasurring, after all, he's got an impeccable sense of judgement, right ?
"Brownie, you're doing a heckuva job"

Did you bother to read smurf's entire post? You know, where smurf was employing sarcasm in much the same way you are to bash the plan?

"Good news... The president said this morning that the $700 billion should help the economy. Thanks for your vote of confidence Mr. President. I look forward to hearing the same speech from you in the near future when this pile of money runs out. What a joke!! If you are living paycheck to paycheck and are now left with this additional burden how does it help? Throw all responsible in jail including the president!! Thanks Mr. President for throwing the taxpayer under the bus!***** DO YOU THINK THE FDIC IS SECURE?****" -- smurf

Of course Lawmakers, White House agree on $700B bailout. They're all in on it together.

Who has taken what; which one got this much; which one got that much; this one worked for that company; who is looking to protect who.

I dunno 'bout you but I have had just about enough!

Baby Lieberman wrote:

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Castellon, Spain sounds like Ron Paul country...

and Chuck Baldwin 2008-voted for Paul in the primaries.....

International Herald Tribune headline today. U.S. Lawmakers _____Rush____ to complete bailout like they rushed to give us the patriot act,like they rushed for real ID like they rushed to give america the new stashi police homeland security. They don´t want no debate(real) or for the citzens to moblize to be in contra--so we Rush even thought we don´t know the fine print---lets rush and rush to build the police state........

Please spend some time Today calling / writing your senators, talking to neighbors, signing petitions, organizing, whatever.... You can also contact the White House, although probably a waste of time. comments@whitehouse.gov.

strut2k wrote:

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Maybe, but we have to play well with others. The world economy will be impacted.

That my friend is pure bullS""t

Baby Lieberman wrote:

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Castellon, Spain sounds like Ron Paul country...

have more reporting here on Ron Paul and Ralph Nader then in the so-called free press in the states....