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RON PAUL FOR PRESIDENT! The only man that actually has a lot of knowledge on economics, and the only man that knew the difference between an isolationist country and non-interventionism, was hidden by the mass media. what a shame that it has come down to these two guys. why are americans so easily convinced when it comes to voting? of all people, barack obama and john mccain? come on!
Bailout: Pros & Cons? Rejected...Who's To Blame?
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So, the bailout was rejected, and the DOW tumbled 777 points. Is it the end of the world as we know it? Let's take a closer look at the bailout. What are the pros and cons? How did we get here? Who is to blame? And, most importantly...What do you think?
Understanding the bailout... My personal (non financial expert) opinion: If you don't have much money, you probably haven't lost much. If you have a bunch of money, you might have lost a bunch. Of course, as always, the middle class will be hurt the most from this crisis. They are already struggling, and bailout or no bailout, the middle class stands to pay the greatest price. But, that's just my opinion, and I'm no financial expert. From The Washington Post... The proposed legislation, which is scheduled for a vote today in the House, would authorize Treasury Secretary Henry M. Paulson Jr. to initiate what is likely to become the biggest government bailout in U.S. history, allowing him to spend up to $700 billion to relieve faltering banks and other firms of bad assets backed by home mortgages, which are falling into foreclosure at record rates. Kucinich on Why Bailout Should Not Be Rushed... Dean Baker from TPM... I've heard lots of phony stories. Much of the country's political and economic leadership has been running around raising the prospect of the Great Depression and a breakdown in the banking system (I actually had taken the latter seriously). These stories are absolutely not true. There is no plausible scenario under which the no bailout scenario gives us a Great Depression. There is a more plausible scenario (but highly unlikely) that the bailout will give us a Great Depression. There is no way that the failure to do a bailout will lead to more than a very brief failure of the financial system. We will not lose our modern system of payments. At this point I cannot identify a single good reason to do the bailout. Paul Krugman from The Washington Post... I'm being asked two big questions about this thing: (1) Was it really necessary? (2) Shouldn't Dems have tossed the whole Paulson approach out the window and done something completely different? Paul Krugman on Countdown with Keith Olbermann after the House Rejection of Bailout... John McCain on his part in getting the $700 Billion Dollar Bailout Bill passed. Oops. Obama on the bailout... Ralph Nader on Bush Bailout... Ralph Nader after the bailout rejected... Bob Barr on the rejected bailout plan... How does this affect the presidential election? Also See: Americans Get The Wool Pulled Over Their Eyes Pros and Cons of The Bailout So. That's what everybody else thinks? What do you think? Let me know in comments. September 30, 2008 -- Posted by Catherine Morgan |
Gene Bearer
Thursday October 2, 2008, 9:01 AM
There is a world wide depression on the horizon and it will be fanned by the inflationary aspects of the US economy that is a result of this governments actions. You cannot say one thing and do another. That is what the politicians and the capitalists have been doing for decades and it is now time to see that that doesn't work.
Laura C.
Thursday October 2, 2008, 5:31 AM
Sorry.....that was off topic.....the bailout is a total joke against the people. They would never give us OUR money to turn the economy around. The rich take care of the rich.....plain and simple.
Laura C.
Thursday October 2, 2008, 5:27 AM
Hey Dave.......neither choice we make for President is going to change things. All of the guys running the country are the same. They found a nice cushy job and benefits living off the rest of us and nobody is going to rock the boat. They are corrupt by the time they get to their positions.....and voting them out and voting the opposite party in consistently would make a hassle for them all but would probably change nothing for the people. The only thing that would change this government for the people would be a truly honest man elected to President who would consistently veto everything and espose the rest of the greedy trash for what they are......and that will never happen.
tammy g.
Thursday October 2, 2008, 1:36 AM
Oooooooooooooooooooooooooooooo my gosh jUST LOOK at how many economists OPPOSE this bailout:
http://www.americanfreepress.net/html/economists_paulson_09_27_08.html
HERE IS A SOLUTON by REAL ECONOMISTS not the hype you hear in the media:
http://www.americanfreepress.net/html/constitutionalmoney_100108.html
http://www.americanfreepress.net/html/economists_paulson_09_27_08.html
HERE IS A SOLUTON by REAL ECONOMISTS not the hype you hear in the media:
http://www.americanfreepress.net/html/constitutionalmoney_100108.html
Bob A.
Wednesday October 1, 2008, 8:16 PM
Instead - save the mortages that have become toxic. Make all adjustable rate mortgages not adjustable. That should allow mortgage holders to keep their houses if they can continue paying what they originally signed up for. No issue with rates adjusting so high they cannot pay. They get a windfall. Keep the flow of money paying the loans - but at the original rate. Yes the loan holders will have to devalue them (as they would in any bailout). Require the SEC rule to restate loans based on market value. that way the bastards who made these loans and traded the assets take the hit they deserve. As people are able to stay in their homes, forclosures will be massively reduced, as paople can pay their loans - at original rates - the banks will get case and be more able to make new loans.
Fire Paulson. Send him back to Wall Street and see if he can get a job.
Fire Paulson. Send him back to Wall Street and see if he can get a job.
Bob A.
Wednesday October 1, 2008, 8:15 PM
Instead - save the mortages that have become toxic. Make all adjustable rate mortgages not adjustable. That should allow mortgage holders to keep their houses if they can continue paying what they originally signed up for. No issue with rates adjusting so high they cannot pay. They get a windfall. Keep the flow of money paying the loans - but at the original rate. Yes the loan holders will have to devalue them (as they would in any bailout). Require the SEC rule to restate loans based on market value. that way the bastards who made these loans and traded the assets take the hit they deserve. As people are able to stay in their homes, forclosures will be massively reduced, as paople can pay their loans - at original rates - the banks will get case and be more able to make new loans.
Fire Paulson. Send him back to Wall Street and see if he can get a job.
Fire Paulson. Send him back to Wall Street and see if he can get a job.
Dave P.
Wednesday October 1, 2008, 8:12 PM
Special Interst groups run America. They run everything THATS DONE in Washington. I'd for once like to see the next president REALLY DO WHAT THEY SAY THEY'RE GONNA DO AND ((((SHAKE UP WASHINGTON))).
Dave P.
Wednesday October 1, 2008, 8:09 PM
no one is going to give us the 700 billion, your living in a fantasy world if you think this way. Dang your dumb. So, we get the money and since Americans are greegy by nature ((( Which I might add will never change))) they want MORE money so they invest? >> Invest in what ? Put the money in banks so THEY can borrow your money and do the same thing they've been doing all along. Come on people ....think think.
Friday October 3, 2008, 4:32 PM