Your Thoughts On The Economic Bailout Plan
The federal government has made plans to provide assistance to struggling industries in this country. What do you think of the decisions being made regarding any of the proposed bailout plans? Do you think the bailout plans for the auto industry and the financial industry will help or further hurt the economy? Do you think the proposed plans are fair?
If you have a comment, please submit it below. It might be read on the air tonight on 10News Live at 5PM!
March 19, 2009 at 7:10 am
Bailout aside, here’s something to think about!
What kind of agreement, if any, do the state and federal politicians have with companies who produce alcoholic beverages, in comparison to those who produce tobacco products???
Why do we rarely, if ever, hear of an exuberant tax being added to alcoholic beverages as it is done to tobacco products?
Currently, there are lessening numbers of people smoking and increasing numbers of people drinking alcohol. We are seeing more and more reports of alcohol-related vehicle accidents, domestic violence, public disturbances, etc, not to mention the non-reported numbers of people who need help for alcoholism. When was the last time you heard of someone beating their spouse and/or children because they had “one too many’ cigarettes that day???
I remember when adding high taxes to tobacco products was, reportedly, primarily intended to help cover the unpaid debts to hospitals and health care providers for treatment of tobacco-related illnesses. What about the alcohol-related illnesses?? Nowadays, it seems, the tobacco taxes are primarily to help the state and federal deficits.
Adding the same exuberant state and federal taxes to alcoholic beverages, as is done to tobacco products, I believe, would have an extensive, positive effect to the deficit on both state and federal levels. So why has it not been done?? I would truly like to know.
I can only hope that adding the high taxes to tobacco products has deterred a great number of people from smoking, and that doing the same to alcoholic beverages would have the same effect, respectively. But I am certain that adding the same high taxes to alcoholic beverages as is done to tobacco products would be a very good idea to help both state and federal deficits.
March 5, 2009 at 10:38 am
I have been hearing help for home owners, which is great but what about the families or singles who rent. I need help with my rent and car payment. I have been out of work since January, I have been denied EDD twice and submitted for an appeal. I do not know how much longer I can hang on until I have to be homeless and sleep in my car if it is not reposesed.
I need help now.
February 16, 2009 at 1:25 pm
With all this “talk” about the bail-out being paid by the taxpayer, just how will this effect me? I just
paid my taxes both federal and state. I receive one pension check of $1092. but with my health plan and taxes being taken out I receive $489. a month to live on I also receive my social security disbility
check. I live in a boarding house with 6 other people. I drive an 11 year old car and all I hear about is how much money the CEO’s will receive or how big the new corporate plane will be. EXcuse me, I cann’t
even qualify for low income housing because I have bad credit. I showed up to work one day and found
out my job had been elimated. I am 63 and have tremors so there is no one who will hire me to work.
What kind of future do I have and to be sure there are a lot of others in San Diego in the same position
as me. I am so sick and tired of hearing about the kilbillioners asking for more money and getting it.
All I want to do is live in my own place. Even a studio would be fine if the price is right.
February 6, 2009 at 4:02 pm
I am ready for a national peace march, for peace of mind in 2009. The workers are staying home today because the people we voted in are not listening. They need a paycut of 10% or they need to be laided off.
January 28, 2009 at 9:25 pm
I don’t understand why every American is not outraged with the way our Government has ruined everything they touch. Why is it fair that stockholders get stuck and the people at the top can “legally” rip off everyone. What ever happened to if you mismanage your business, the outcome is you close your doors…..for good, no bailout! I think the politicians should not be allowed to be in any office capacity more than one term, and no benefits after they leave office. Why are they getting pensions, medical, etc. that we are all paying for.
All of you that are sitting back whining about how the economy is, get off the couch and do something before its too late
December 12, 2008 at 12:50 pm
It is imperative that the industry receive loans. The bankruptcy of any one of the American auto makers would also lead to the bankruptcy of many of the small companies that provide parts and subassemblies to the auto industry. As the effects spread it could lead to the loss of as many as 260,000 at the Big 3 and more than 600,000 in the supply chain. In addition it would lead to the loss of jobs at dealerships and the loss of jobs in the steel and aluminum industries. Even in good economic times this would have a very negative effect on the economy. In the current economy it would probably lead to a depression. As a Republican I wish it was not necessary, but failure to act would be like Hoover standing around in ‘29 & ‘30. I will be watching and keeping track of the current crop of ‘Hooverites’ and voting against them the next time I get a chance regardless of whether they are Republican or Democrat. Duncan Hunter, Huckabee, and others, watch out.
December 12, 2008 at 12:12 pm
Closing GM plants and laying off workers is not the answer….those workers had nothing to do with the economic running of GM. If the White House does indeed send some “bailout” money to these automakers, then I feel that upper mgmt and CEO’s, CFO’s, and anyone else sitting at a desk in those office towers should be replaced and their salaries and bonuses used to help the cause. The higher up’s ran the auto industry into the ground…..not the workers. Hey, maybe upper mgmt should be on the assembly line working along side everyone else….just so they remember where they came from.
November 18, 2008 at 2:45 pm
I worked with Lending Organizations and Title Companies on Marketing their services during the refi craze. They all knew when they were putting mortgages in adjustable rate loans rather than fixed rate loans what would happen if the prime interest rate went up. They didn’t have a date, but they knew it was going to happen. The mentality was to get it while the getting was good. My business failed as my clients did. If borrowers had been educated about their loans rather than tempted with signign bonuses and cash, many would not be losing their homes. 3 yrs ago the homes in my neighborhood were overrun with motorhomes, boats and big trucks and now they are the same homes with for sale signs now. Thank god I kept my fixed rate loan.
October 4, 2008 at 3:48 pm
i hope the bailout is helpful but what about those in the aftermath of the current natural disasters they are still waiting for help FEMA has dropped the ball on their own people having severe security issues and threats along with the survivors and their inability to get assistance with a government that is not listening to their concerns. i know our economy will recover with time but there are some issues we as a people are dropping the ball on its getting hard to know where to go with this issue loved ones are in danger in galveston and help is needed now
October 2, 2008 at 7:56 am
I am astounded at how many Americans think that this will not eventually affect us all. I am a 60 year old woman that has a small 401K and what I have been saving is going right down the tubes. This bill will save us all for eventually it will start trickling down hill. The banks will not be able to give loans therefore the smaller businesses will not be able to meet their payroll. Why are you all pointing fingers? Do I want this to come out of my pocket NO, do I think that the last 8 years with the Republicans in the Whitehouse has done this to us YES but now is the time for ALL Americans to band together stop the blame game and fix it.
October 2, 2008 at 2:11 am
How many ways can you spell “outraged’! How dare these weak-kneed, jelly-spined politicians give away the American citizens’ hard-earned workaday dollars to incompetent, self-serving greed driven corporate pariahs who think of their power positions first, the well-being of the public second (if at all). Is 700 billion dollars going to change the modus operandi of these corporations which will learn nothing at all, since they will suffer nothing at all? The presidency of George Bush has been one disaster after another (and forgive me for voting for him as the lesser of two evils eight years ago). It truly has been one financial fiasco after another - the fat cats get fatter, and the public gets screwed time and time again. People - express yourself - anywhere and everywhere! Do not back down to these corporate crooks and worse, to these political crooks. America, it’s time to take a stand - or communism is right around the corner!
October 1, 2008 at 6:32 pm
This is a terrible bill. Why the rush. Why is congress so quick to pass relief to Wall Street and ignore Main Street. Obviously they are catering to the people who line their pockets with cash instead of helping out those who elected them. All Americans should vote out any member of Congress who votes for this bill no matter what party. If the best economic minds at Harvard, Yale, MIT and 160 other top economist say this is bad, then why do we believe a bunch of crooks know better. Let the chips fall and maybe we will reduce our debt both as a country and as individuals. We will demand better policies from our elected officials and better oversight of our financial institutions but a SOCIALISTIC POLICY IS NOT THE ANSWER!
October 1, 2008 at 6:00 pm
I am surprised at how many americans are more interested in revenge and punishing the fat cats who put us in this situation (and there are many theories as to who is at fault) then they are concerned about the thousands who will lose their jobs, businesses, homes and savings. Yes lets show those CEO’s and wallstreeters we won’t stand for their practices anymore. And the way we will do it is by allowing our economy to go under. Real smart. They’ve got their money already. Its the rest of us who will suffer if this bill does not pass. Can’t people see that.
And as to the suggestion of giving everyone over 18 $297,000 to clear their bills, etc…..I wonder how many would show up for work the next day?
Although never quite this serious we’ve been in this situation before and the government bought failing assets which they later sold when the economy recovered and made all the money, plus some, back.
Please people, set aside the anger and revenge and understand the ramifications to us all if this bill fails and the economy stalls anymore. Look at whats already happened because of delays.
October 1, 2008 at 2:24 pm
THey are ignoring the majority!! They are going to vote this second one in!! How can they be stopped? This is amazing. How could they ignore over 64% of voters NOT wanting the bailout?
I want to hear more about the NO-cost bailout written by DeFazio (congress) and 5 others….but on TV last night they said fellow government persons would not listen to them.
That tells me this bailout that is being voted in now has a HIDDEN AGENDA!! It has to if they are unwilling to listen to these 6 congress persons with a better idea.
How can we stop them? They are going to ignore the majority and vote in this other bailout…..I can’t leave phone messages anymore because mailboxes are full; when I try to do emails with my opinion…..the web site is not working…when I call other numbers they say the circuits are busy.
I am beginning to wonder if it is really true.
October 1, 2008 at 12:37 pm
I’m against the bailout. I’m FOR punishing the executives who authorized the subprime lending that lead to this. NO ONE is speaking about taking those responsible for this and taking it out on them, both for all the money they have, and putting them in prison for the rest of their lives.
How does the gov’t or anyone expect someone to be responsible, when they demonstrate that there is no retribution for being irresponsible?
October 1, 2008 at 11:15 am
With this reprised BAILOUT the middle and lower class are still given nothing. How many people have $100,000.00 in their Bank or more? What about helping us with our costs because of this GREED: who is going to give us relief from gas prices–outrages food, clothes, and housing costs? Who is going to give us back the jobs everyone has lost and can’t find?
The POWERS THAT BE got us all in this situation and now the taxpayers, who desperately need a bailout themselves, end up paying for others; who definately don’t deserve another chance to screw us over again. What about the U.S. Citizen Taxpayers——-what about our BAILOUT?!?!?!?!?!?!
October 1, 2008 at 9:44 am
Do I believe the taxpayers should bail out the banks? A resounding NO. To my knowledge the banks have never bailed anyone out without paying a stiff interest charge. I also heard that Fannie Mae and Freddie Mac made campaign contributions to many Senators including Obama and Clinton. If they had the monies to make these contributions I believe they have the money to bail themselves out. Maybe the Senators should give back the money to help them out…………………………….
October 1, 2008 at 7:31 am
For the earlier comment, please do the math before quoting numbers! That is only $425.00 each.
October 1, 2008 at 2:01 am
I want the bailout of Congress. Specifically, Pelosi, Dodd, Frank, Schumer, and the other crooks that helped create this mess with Fannie and Freddie. They should be locked up!
September 30, 2008 at 11:38 pm
I do not believe that we as taxpayers should be the ones to bail out Wall Street or the mortgage banks that had decided to accept mortgage loans that were ’special’. The banks had to be aware of the fact that the homeowners that needed the special financing were risks. Banks accepted knowing that the loans would eventually go into default and a foreclosure loomed in the future. Easy way for the banks to get the homes back and make more money with a foreclosure sale after the homeowners have already put in their hard earned money. I hope that our representatives from California, this includes Susan Davis, continue to vote NO on the bail out. This bail out is not going to help the people who have already lost their homes to these “special” loans or the ones in the process of losing their homes. The bail out should be benificial to the people not wall street or the banks. Maybe FHA can lower their standards a bit so that the people of the United States can hold on to their American dream of owning their own home. REMEMBER, WE THE PEOPLE WILL BE VOTING SOON…….
September 30, 2008 at 7:42 pm
I received this e-mail and believe it is right on!
A better Economic Recovery Plan–I’m against the $85,000,000,000.00 bailout of AIG. Instead, I’m in favor of giving $85,000,000,000.00 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. The plan is to give $425,000.00 to every person 18+ as a WE DESERVE IT DIVIDEND. Of course, it would NOT be tax free. So let’s assume a tax rate of 28%. Every individual 18+ has to pay $127,500.00 in taxes. That sends $25,500,000,000.00 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?
1. Pay off your mortgage—————————–housing crisis solved.
2. Repay college loans——————————–what a great boost to new grads.
3. Put away money for college———————-it’ll be there.
4. Save in a bank————————————–create money to loan to entrepreneurs.
5. Buy a new car—————————————create jobs.
6. Invest in the market——————————-capital drives growth.
7. Pay for your parent’s medical insurance——-health care improves.
8. 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 $1,000.00 (”vote buy” one-time-thing) 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.
Sure, it’s a crazy idea that can “never work”; but can you impage 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, D.C.
And remember, The Birk plan only REALLY costs $59.5 Billion because $25.5 Billion is returned INSTANTLY in TAXES to UNCLE SAM!
September 30, 2008 at 6:56 pm
In 1987 I was turning 30 years old and was working for a cabinet shop. I had just bought a new 1986 Toyota truck cash. The same thing was going on in the economy then. Everyone was losing their homes and cars because they relied too heavily on credit. I was the odd one then because I didn’t believe in getting myself into debt. Today nothing has changed. I am still the odd one. I own a house I bought in 2005 for $600,000.00 which is free and clear except for the property taxes which I protest because they are being wasted on schools which don’t teach children the basics of solvency or pride of country. My 2001 GMC Sierra Truck is paid off and has 80,000 miles on it. I have good friends that were living the high life for the past 10 years and are now losing because they never paid off their debt.
If you want to give someone 700 billion dollars give it to those of us whom haven’t been part of the problem! I own my house free and clear I bought it in 2005; give me the $600,000.00 I paid for it; and pay off all my mortgages on my rental properties which are not in trouble! Don’t you give the banks or people in default a dime! What you reward you get; so if you reward these educated idiots that have caused the problems we are facing you’re just going to get more failure. Let the market settle and let housing become affordable to the average worker; this is long overdue!
Thank you,
Kevin
chula Vista
September 30, 2008 at 6:26 pm
I think we need to fix a bunch of problems with the financial systems in the US. But what I find interesting, is that this is an emergency! If this has become an emergency, then there ought to be a lot of people in the executive offices that need handcuffs. This is not an emergency unless it involves life or limb. I understand there are provisions in our system for taking care of these kinds of emergencies. It was reported that 1 trillion dollars is available for banking institutions to continue business if cash flow is a problem. What I think is disturbing, is that for the last 2 years, our elected officials have ignored this problem as to not cause a disturbance in the current financial markets, or their next election. Our law makers should tell those businesses to look within and make decisions to prevent the loss of their companies. This includes selling off their assetts and laying off their high paid executives and reorganizing the way I have lost my job 5 years ago in a down-sizing of a company that was struggling. By the way it saw its way out of bankrupcy by the correct management of that company. If they had just thrown money at the problem, they would have definately been out of business and left owing a lot of people a lot of money. Fire the President and CEO and guess what, tell them they do not get any payoffs, or bonuses, or commissions they may have made claim to. When they say why not, tell them to see you in court, and I am sure that fraudulent activities can not and will not be rewarded in court. Besides, it may take them 2 years to take it to court, in the mean time let them find another job, if anyone will hire crooks. The United States should not bail out these banks, let all of their(The Banks) bad decisions(spoiled properties) be dealt with as any business would have to. If they do go out of business, sell off the company, pay off the debts, and put the crooks in jail. Now, lets look at the real priority of our financial world, and take care of the Social Security System which none of our politicians have yet addressed. I think that is the real emergency. If we are going to spend this kind of money rather than loan it to the banks, lets spend it on the Social Security System to protect those who have already paid for it, and it has already been said it will be broke soon. If there is systems in place for inaction on this bailout, then let them take over and handle this situation and lets not place more burdens on our children.
September 30, 2008 at 6:15 pm
They heard our voice; 64% of voters called/emailed and said NO to bailout.
Now do they listen? No, they move it to the Senate and are going to vote on it again….then blackmail congress to approve it.
The only thing they changed was to increase the bank insurance from $100,000 to $250,000. My gad.
I just tried to place a phone call to senate phone number to say no to revote, but the lines are jammed. And I tried to email senators and the web sites are locked up by high traffic and no links work.
Why won’t these stupid people listen to the majority? Wall Street went up today. Let the natural thing happen. Do not bail out these bums. Greedy creeps. Here we sit with no income all of a sudden, having to take social security years early (losing thousands of dollars of benefits) because we need a cash income. My husband’s business of 23 years has utterly failed ……because it was all sales. We were three years from retirement. we own our own home. We lived within our means.
And now congress/senate wants us to pay these creeps to bail them out? We followed ALL the rules, they followed none. And my government wants to reward them and leave us paying the bill. And my grandchildren will probably still be paying on it.
I am totally disgusted with my government, with each Presidential candidate…..with every single greed-monger on Wall Street.
And they are going to do us in and we can’t do anything about it.
September 30, 2008 at 6:13 pm
All we hear about is bailing out financial companies that pay huge amount of salaries and bonuses to CEOs that run companies into the ground. The employees and the public lose, while the CEOs get richer and never pay back what they have essentially stollen from the companies. I think if the government insists upon spending 750 billion dollars, they should be giving every legal citizen-taxpayer a million dollars each, and let them bail themselves out of their mortgages and problems insisting that they start to take care of themselves with this chance, instead of the government constantly taking care of them. The money will end up back in the banks, as people pay their mortgages and back in the economy to bail itself out — without the CEOs making all the money and not the people who need help.
September 30, 2008 at 5:45 pm
I heard that in this bailout, it was mentioned for all home owners there would be a 3% reduction in your current intrest rate on your mortgage. Is this true? I really like Dans idea, in giving all american citizens 1 million dollars, If that doesn’t stimulate the econmoy what will. Any ways if there was a reduction in our current morgage rates, I believe that also would stimulate the economy. But most of all I’m tired of bailing out the big guys that don’t really need any help to begin with,take care of the little guys that actully make this country run. Sincerely, James.
September 30, 2008 at 5:24 pm
I think it is a shame that we have the funds to send experimental things to the moon, jump right in to help other countries but where is the help when the USA needs it?? I am a victim of the
“Mortgage Meltdown” and have been unemployed since July or last year. With the expierence in that field for 33 years I cannot even get my foot into a job without the prospective employer feeling that I will return to the mortgage industry “IF” it ever comes back. All I want to do is work and wish I could find a job! I’ve explained that once I’m employed with them and that I would not leave.
I just think that all Americans have had to scale back on their spending and so should our government. We do not need a new penny at this time, we can cease the trips to Mars, we can quit sending money to foreign counties, the government should extend unemployment benefits PAST the wonderful extra 13 weeks they so gracially give you.
We have already lost our home, about to loose our rental, cannot pay utilities, barely can afford food and gas!!!!
WHEN WILL ALL THIS END????????????????
September 30, 2008 at 5:13 pm
VACATION! I believe this congress has been on vacation for the last 2-3 years. It’s time to work. No excuses, no fingerpointing and no more lame ducks!!! ( Notice: last 2 years we have had a Democratic majority)
September 30, 2008 at 4:00 pm
I feel it is a very sad day when the tax payers are even approached with such an outrages plan. I also believe the media along with the Washington bureaucrats have helped cause the panic we now see in the general public. There is no need for this urgentency that they keep spreading. What they should be doing is asking for calm cool heads to go in to session and NOT come out untill an honest plan can be developed. Of course, they will never do anything that has any “common sense” attached to it.
September 30, 2008 at 1:17 pm
I am disappointed and I don’t trust our government!!!! There are alot hurting people in our country and alot of soliders as well!!! What is really going on???
After working for a company over 25 years and the Bankrupcty Judge allows them to dismantle the pension and turns over to the governemnt, our pension, which is now controlled by them, Pension Benefit Guaranty Corporation, they determine how much you will get monthly and there is a limit on the amount the employee will receive .
There is something wrong!!!!! Our people are dying and we are in a war!!!! So as I officially retire along with other co-workers from USAirways/AmericaWest Airlines, will we really get some sort of payment from PBGC, that is unknown. We need a miracle from God and our Country needs God!!! This is Perilous Times (2Timothy 3)
September 29, 2008 at 11:22 pm
The best example of what the Bailout Bill is for is the animated anaylsis on World News Tonight. What the Bill boils down to is a proliferation of the giant ponzy scheme our credit-run economy has become. What’s so bad about a cash run economy?
Another question: Why isn’t the news explaining what the inflation rate will do upon printing all those billions of dollars?
I say NO to the bailout, we can’t afford it!
September 29, 2008 at 5:54 pm
People QuickFacts USA
Population, 2006 estimate
299,398,484
Housing units, 2006 126,316,181
Homeownership rate, 2000
66.2%
Housing units in multi-unit structures, percent, 2000
26.4%
Households, 2000
105,480,101
Persons per household, 2000
2.59
Just a question from an ignorant man. If we are so worried about families losing their home, along with stimulating the economy, instead of a $700 Billion bailout, why doesn’t the government just bail the citizens out by giving each of us $1 Million. The majority of citizens will be able to payoff their mortgages and the people who do not yet own their own homes will be in the market to buy their own home thus stimulating the construction industry, saving the baby boomers who are entering the fixed income population. Allows for retirement of many of us, who can not yet afford it, therefore opening up the job markets which would help the x and y generations. Making the existing CEOs richer is something we all would not like to see. It’s one of the things that got us in this mess to begin with, there greed and mis-management. Let their companies fold and give the next generation a lift up to start new businesses that could replace them. A little revolution once in awhile is a good thing. Oh! Look, that would only cost the government a little over half of what our representatives are arguing about. Like I said, I’m just a curious ignorant man asking a question.
Regards;
Dan from Poway
September 29, 2008 at 5:33 pm
This problem has been brewing for over 2-3 years……ask any professional in the real estate or loan business and they could have told the politicians there was a problem. The time to figure out the problem was then, not when the crisis has hit. I find it interesting that the government thinks it is OK to bail out big businesses. I am against this bailout. I am tired of paying and paying and paying, for corrupt politicians and CEO’s that are lining their pockets off the backs of the working class. Maybe we should make it a requirement that the politicians have an economic degree before they can vote for $700 billion dollars.
I think it is time to find other creative ways or incentives to buyers to spur spending or take a look at the capital gains law. Some properties are being let go because they can’t be sold withing the 3 year timeframe to carry over their exemption. As a Real Estate professonal, why is it the fault of the average consumer that bought their home 2-3 years ago and have lost their entire life savings? Many of the properties being lost to short sale is because of lost wages. , the lenders should be required to make payment arrangements on a temporary basis. Instead the have their “rules” and would rather loose $100,000’s of dollars instead of figuring out a way to keep the owners in the property. 95% of the properties I look at are either lender owned or short sales. All adjustable loans should have the option of either turning them into a fixed rate or making them assumable for one time. Simple supply and demand tells me that if this inventory was off the market, it would stabilize the house prices.
The bail out is not the answer unless everything has been exhausted. I don’t think making a decision this week is the answer.
September 29, 2008 at 5:21 pm
Here is my suggestion for the Bailout.
The people who caused it can fix it.
They reinstate the Transaction fee that they used to charge(pre 1966) for each Buy or Sell. 1/4 of 1%(twenty five cents/$100. This is the same charge that England, France, Germany, and the other non-crash countries do. It is fine for real investors in the Market but not as convenient for the gamblers(speculators) that caused this crisis.
If we have to advance them on a loan basis, it should be done with all the past restrictions that used to be on the Stock Market before the lobbyists did away with them and it is definite that the top dogs don’t get a dime of our money for the fraud that they have caused
Thankyou,
Mr. and Mrs. E. Garcia
September 29, 2008 at 5:14 pm
The need for a ‘Bailout’ is the Biggest Lie yet told by this administration. Somehow they never can find money to help people - health care for children comes to mind - but they can find billions for no-bid contracts in Iraq (wasn’t 8 years long enough to put those out for bid) and now they want $700 billion from us to give away to people who engineered the ‘crisis’ in the first place.
From a New York Times article on Monday http://www.nytimes.com/2008/09.....ref=slogin
Even as policy makers worked on details of a $700 billion bailout of the financial industry, Wall Street began looking for ways to profit from it.
Financial firms were lobbying to have all manner of troubled investments covered, not just those related to mortgages.
At the same time, investment firms were jockeying to oversee all the assets that Treasury plans to take off the books of financial institutions, a role that could earn them hundreds of millions of dollars a year in fees.
September 29, 2008 at 5:11 pm
I’m not surprised the majority of the republicans voted against the bailout. It’s not their homes, pensions, jobs that are on the line.
September 29, 2008 at 5:09 pm
We should be helping homeowners that are CURRENT with their mortgages, by letting them refinance for what their house are worth now.
September 29, 2008 at 3:27 pm
It’s a sad day in America when a plan to HELP this country is voted against by our own elected officials. Sure this plan would have helped some of the same groups of people who basically started this entire situation, but it would have at least stopped some of the bleeding. Isn’t that all we need at this point? I want to be able to trust our government to make speedy and necessary decisions but that trust is wavering now that this plan has fallen apart. We need a stop-gap solution, something (anything!) to soften the blow until a real solution can be found.
September 29, 2008 at 2:09 pm
What we tend to focus on becomes our realty. It seems that the media is focusing incessantly on the negative. The negative is tending to become our country’s reality. Don’t get me wrong, I know happy thoughts, rainbows and puppies don’t make for sensationalistic headlines and great arbitron ratings! The average American is so consumed with FEAR induced by every channel of communication they encounter it’s surprising our country isn’t in poorer economic health. The same people living now are going to be the same people making the wheels of this economy turn again. Let’s all give it a positive push today! Enough is enough already!
September 29, 2008 at 1:27 pm
With so much focus on bailing out the banks and savings and loans, why hasnt there been any thought put into this plan on helping to bail out the small companies that need loans or the home owners losing their homes, rather than giving the money to the greedy people that created this mess in the first place? Dont get me wrong, I know there are a lot of people to blame for interest only loans etc., other than just the lending institutions. But, it seems to me the money would be better spent helping the people directly and putting money back into the system from the front end of the economy. Bail out the people first! $700 billion could go a long way in helping the people of the united states in foreclosure or bankruptcy!