Comments on: Senate Approves $700B Financial Bailout

Economic Rescue Legislation Passes 74-25; House Expected To Vote Friday; Support Growing

[incog-nito]

chimneyfish: The problem is, a lot of those loans are bundled up and sold as derivatives to investment firms. Nobody really knows the true value of those derivatives, only that they''re so toxic that no bank would touch them. As I mentioned the only good way to find out is to let the market sort things out, but of course we have the credit crunch to deal with. There is really no good solution, and the solution may even end up doing more harm than good.

[rhs648]

Bush is assembling our tax payer funded military on U.S. soil for the first time to control us serfs should we rebel. The government of the Banana Republic has been privatized and has turned on the citizens like a mighty Empire run by a King.

Posted by wjksea

Bush can propose anything he wants until the cows come home. Congress can reject any proposal. On this one, the blame needs to go to Congress. Look at the Democratic leadership who has been working hand in hand with President Bush. Congress chose to side with President Bush and to defy the the majority of Americans who oppose the bailout. The whole thing could have been stopped by the Democratic leadership in both houses.

[bailmeout1]

''''Hundreds of billions of dollars are going to bail out FOREIGN INVESTORS. They know it, they demanded it, and the bill has been carefully written to make sure that can happen. - Brad Sherman D-Cal.''''

That''''s right folks. You are going to have 700B put on your personal credit card (via taxes forever) in order to bail out foreign investors. Oh, and the best part of it is that the underlying assets involved do not even have to be in the United States!''''
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Posted by t_barr at 12:55 AM : Oct 02, 2008

OK that''s two of us that realize that. Got a lot of work to do.

[bbinfla]

Just because some of you don''t like it, or understand what it does, does not mean that everyone is against it.

I am not crazy about it, and I blame Bush and his policies or lack of them for the crisis.

Congress (The Senate at least) is doing what has to be done.

[staplesla]

What ever happened to businesses operating in the black? If I ran my busines 100% on credit it would eventually dry up and my business would be shut down. I understand credit extensions for business expansion, new equipment, etc.; but for day-day operations....that is playing with fire.

[t_barr]

Excerpt from;
http://rightwingnews.com/mt331/2008/09/an_interview_with_jim_demint_o.php

..but apparently, Sec Paulson has promised Wall Street that we''re going to come in and buy their assets at above market rates so they can come out like bandits. The problem we have here is that by the gov essentially promising to come in and do that, it is causing the credit markets to seize up. They''re waiting for a gov infusion of funds. They''re waiting for the government to buy at a higher market rate, so they''re not operating and credit is closing down in America. It''s a self fulfilling prophecy..

And from;
http://market-ticker.denninger.net/archives/596-The-TRUTH-About-The-Bailout.html

''You have been told repeatedly by George Bush and Paulson that this bill is about a ''rescue'' of Main Street, not Wall Street.

You have been lied to repeatedly.

The bill The Senate intends to try to ramrod down your throat is neither about Main Street or really even about Wall Street. You are going to get VERY angry. Sit down before you read further.

''Hundreds of billions of dollars are going to bail out FOREIGN INVESTORS. They know it, they demanded it, and the bill has been carefully written to make sure that can happen. - Brad Sherman D-Cal.''

That''s right folks. You are going to have 700B put on your personal credit card (via taxes forever) in order to bail out foreign investors. Oh, and the best part of it is that the underlying assets involved do not even have to be in the United States!''

[bailmeout1]

To all those defending this bill because your businesses will be hurt too much without it. If you are so sure this bailout is the correct solution - sure to the point of $17,500 per average household (which is easily doubled for tax paying households) If you are positive to the point that you feel I should willingly give up $35,000 dollars per year, I have a very easy solution for you. Make participation in this thing voluntary.

Oh, the sudden silence! There it is right there.

[amervtrn]

The Senate has just completed a Constitutionally illegal vote in their attempt to shove this Bailout down our throats. The Constitution requires that Bill originate in the House of Representatives, be voted on and passed, then sent to the Senate, where it may be voted on. The Senate, in their attempt side step the Constitutional requirement, they illegally are trying to originate the bill in the Senate attach it to a non related bill and pass it illegally to the House of Representatives. All hope is not lost. There are two possible cures. The House of Representatives may refuse to be a party to the illegality and vote it down or there is always the Constitutional challenge. For the time being, keep the pressure on your representatives. Emails, faxes,and phone calls. Both Obama and McCain turned their backs on VOTERS.Neither deserve your vote. Perhaps it is time for the Fabled NONE OF THE ABOVE slot on the ballot.

[incog-nito]

When you have a bill that sets aside a huge of money, yet don''t know exactly how it will be spent, then you''re basically asking for corruption, mismanagement, and abuse to happen.

[cmuhes]

If all the Dems get ticked off and vote for McCain and all the Reps get ticked off and vote for Obama we are playing right into their hands. They are each counting on an equal loss factor. We need to surpise them with A. criminal charges and B. vote all incumbants out and C. vote Independant
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I agree 100%.

A. Criminal Charges need to be files against those who got us in this mess.

B. Special interests are playing too much of a rule in daily decisions made in Washinton. All the old incumbants need voted out of office, and term limits need to be set.

C. As stupid as this sounds: Ralph Nader or Ron Paul looking good right now. The two major party candidates are backing this fiasco. They are not showing leadership in my opinion.

PUT THE AVERAGE PERSON FIRST.