Apr
30
Why are so many of you falling for it?
Filed Under Elections
This trillion dollar bailout is nothing more than a ***** power grab by both sides in D.C. to attempt to nationalize the entire Financial Services Sector in this country.
For those of you who will attempt to “dis” my understanding of the economy, I will point out
1)I am self-employed, and won’t lose my job. My mortgage is fixed and very affordable. I don’t have any consumer debt to speak of. So, the bailout will not help me in any way, and it will, potentially damage me to the tune of thousands of dollars in taxes for God-only-knows how long
2)There is no way it stops here. If Washington succeeds in nationalizing the Financial Sector, Automotive, Retail and every other sector will have their hands out to get theirs, and we end up with complete Socialism.
3)My portfolio (and millions of other peoples) has only been negligibly affected by this correction. I would never invest in “air” which is what the Financial Services Sector is – my money is in commodities, transportation and agriculture – real things, that have intrinsic value….they are holding up pretty well. and
4) I remember the ‘87 market correction, which was roughly TWICE as sharp as this drop, IN ONE DAY, and the only thing done was to curb “program trading” (the abuse d’jour in those days), and within a year and a half the market not only recovered but began a long bull market.
This bailout is not necessary. period
And see…this is what convinces me. Some of you are way far Right, like me, and some of you are way far Left….and on THIS we agree….doesn’t it stand to reason if EVERYONE on both sides can agree, that it really is a bad thing?
asjrb – how long can banks refuse to lend money, and still MAKE money? don’t you think someone will step in, if that happens? Someone out there is willing to make money, I am sure.
What the banks are doing right now is simple blackmail…if we refuse to give in, they will either start lending again, or go away….and someone else will step in…I prefer not to negotiate with terrorists.
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14 Responses to “Why are so many of you falling for it?”
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If they can spend 700 billion dollars, why not give EVERY ameican 1 million dollars, so we can pay OUR BILLS?
LOL, so the people that screwed up, get 700 billion dollars, and the people that pay thier bills ( US ) have to come up with 700 billion dollars? WOW. This country is sad, just sad
I agree completely!
They think this is going to be fixed by the weekend, too. Give me a break.
I agree. Who was the first to say he didn’t think it was a good idea? McCAIN!
I’m all for delaying the debates so that ALL Senators can focus on the proposed legislation and not just hand over the keys to the vault!
I agree with you. I get the feeling it is just a cover up or a desperate attempt to make the Bush administration to look better. I think it’s a load of crap.
Who are the people who made the poor decisions and why are they excluded from their own consequences?
Clearly, there needs to be more Government control of the financial markets. The greedy Wall Street bankers (bassssstards) will bring down the country so they can make a buck.
..and what is wrong with socialism?
WHy don’t they buy every house with a mortgage on it and give it to the occupant instead.
If the bailout does not happen. The credit market will freeze. Did you know that banks stopped lending to money each other. Those who wants to buy car, home or get loan for college won’t be allowed because banks don’t have money to spare.
The banks are in mess and we have to have money to get this economy on the roll.
Keep in mind, this country makes a living on borrowed money: mortgage, car loan, college loan, etc. You get the point.
hence we need a bailout with an oversight. This mess was created by incompetence of George Bush and their GOP members. Keep this in mind on Nov 4th.
All of us are not. That’s why we’re voting the Obama/Biden ticket.
Once again, the Republicans think that fixing the economy will work from the top down.
But it won’t.
People need to be bailed out from the bottom up. Help them to negotiate better mortgages and credit card rates. Because once people are able to pay their bills, watch how the economy improves.
I am not for the bailout, let them sink or swim. I would like to see an investigation to find out which politicians made money off of this and those that did, hang ‘em high.
I don’t agree with the bail out but I don’t think the market will correct
itself. Too many people have lost confidence in it.
The liberal democrats who run the news industry are making this seem like the worst crisis since the great depression to make people think anything is better than another republican
you have some legitimate concerns about the other industries will start asking for handouts. and DC will have to oblige other “beggars” because they would look very hypocritical otherwise.
but I personally believe some socialism is needed, like Canada’s healthcare plan. I also believe certain industries, CEO’s and capitalists that focus on their own wealth deserve need a reality check (Mr. “I don’t know how many cars and houses I have”.
enjoy your wealth and save it. but defending American capitalism is not the correct attitude during a recession, especially when all your neighbors and your employees suffer in a meaningless economy with no leadership and no future for their kids to earn the same money you’ve earned.
ie, shame on your selfish a$$.
I’m also in the boat with all those people who make sure they don’t overreach themselves when they get a mortgage on their house!! We are very financially stable, middle class young family..
I honestly hadn’t done any research yet on the bailout. I don’t really LIKE the bailout anymore than I liked it when the Clinton administration lifted the mortgage company restrictions and promoted the high risk mortgages in 1999 to “encourage minority homeownership”. After all, no bad economic downturn has every happened without a reason – usually having to do with unnecessary government dabbling.
It is nice to know these tidbits, like the ‘87 market correction – it’s not as if the media does much research.
I do agree that the government seems to be continuing to get its sticky fingers into the economics, and when they do it just seems to be a downward spiral and decline of the free market. Our country does not have the foundation for a socialism, so we can’t support one without rewriting the majority of our free market laws, but the government continues to do this power grab.
It is obvious to me that one of the two main party presidential candidates have to win – so I’m going to vote for one of them instead of throwing a useless vote at an independent. Obama, with his health care plan and plans to reinstate taxes such as the inheritance tax seems to be interested in flowing more of the money through the government rather than backing off on government power. So I have no choice but to vote for the economic policies of McCain, who has indicated that he desires less government power.
I wish more people would research as you obviously do.
McCain/Palin 08