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Congress Pushes Back On Bailout


Business  (tags: u.s., congress, Henry Paulson, bailout, news, economy, business, americans, consumers, debt, finance, foreclosures, government, law, money, politics, society, assets )

SirRobert
- 441 days ago - money.cnn.com
Currently the $700 billion dollar bailout is being debated between Congress and Lawmakers. While both parties realize the urgency of the moment, they argue against giving Henry Paulson a 'blank check' to buy troubled assets, without protecting taxpayer.
Comments

Blue Bunting (855)
Tuesday September 23, 2008, 4:06 am
The facts show that the problem was caused by allowing the market to operate without regulation. So logically, Paulson's solution is to allow him to make thing right by not regulating his actions. Only in Alice's Wonderland would anyone suggest such an idea.

Make certain that oversight is accomplished by a majority of non politicians. Let's include 1 Republican, 1 Democrat and 3 others. The other three will have to be agreed upon by both parties. Guys like Buffett would do nicely.

Finally, and most importantly, drop the word bailout. Change it to loan. All of us know that when we go to the market for money, it's always expected we will repay the loan. Whether that is in the shape of ownership or preferred stock, we must insist on being made even. Make certain that bankruptcy won't avoid repayment. Insist that executives pledge their company stock and pension guarantees to insure the debt is repaid. Bottom line. This isn't a bailout. It's a loan. Limit executive compensation until the loan is repaid. We'll be told that's unfair by some. Tell them to go somewhere else for a loan then.

This is a defining period for America. We must adhere to the American principals that business understands. There is no free ride. Take it or leave it.
 

SirRobert THE FIFTH KNIGHT (275)
Tuesday September 23, 2008, 4:15 am
With projected Holiday Sales being a meagre outlook ahead, and a debate underway to save our economy, and the taxpayer, this is a case of arguing while 'Rome Burns'!
Globalization has made this into a 'Global Issue', because if our lights go out, they all go out! The world economies being interconnected works well under stable conditions only, and carries the reverse burden along with it!
 

Marion Y. (285)
Tuesday September 23, 2008, 8:02 pm
"This is a defining period for America."

That it is, Blue. That it is.

Congress is acting like no one was watching the store while this was in the works. Just like 1929, Congress knew this was coming down. I wonder if this 'bailout' was what was discussed back in March during Congress' closed door session?
 

SirRobert THE FIFTH KNIGHT (275)
Wednesday September 24, 2008, 5:42 am
I definitely see manipulation of market money, but where could it 'ALL' be going???
 

Past Member (0)
Wednesday September 24, 2008, 9:59 pm
Thank goodness! Golden parachutes & the FBI. Is the administration insane? They didn't see it coming?
Louise B.
 

SirRobert THE FIFTH KNIGHT (275)
Thursday September 25, 2008, 4:34 am
Seeing it coming, and doing something about it, obviously is two different things. To me they are one-and-the-same, but unfortunately we expected far more from our glorious leaders, than we have received thus far!
The entire system must change immediately -- Is this asking too much?
 
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