Comments on: Is Soaring Debt The Lesser Of Two Evils?

Some Economists Say Any Ill Effects Stemming From Massive Bailout Better Than The Alternative

[tonic1111]

SURE, THIS IS THE BAILOUT IS THE LESSER OF TWO EVILS. IT EVENTUALLY COSTS US THE PEOPLE ROUGHLY $2600 FOR EVERY MAN WOMAN AND CHILD. HAD ENOUGH OR ARE YOU HUNGRY FOR MORE ? VOTE REPUBLICAN.

GIVING OUR MONEY TO CORPORATIONS WITH TAX CUTS, SEALS WITH CERTAINTY THAT OUR MONEY WILL GO INTO THE POCKETS OF WEALTHY STOCKHOLDERS.

WHEN THE PEOPLE HAVE THE TAX CUTS, THE MONEY GOES INTO THE POCKETS OF THE PEOPLE WHO CAN THEN CONTROL THE MARKET BY CHOOSING WHEN THEY MAKE THEIR PURCHASES TO BUY ITEMS AT THE BEST PRICES OFFERED. THIS KEEPS PRICES DOWN AND PUTS MONEY INTO CIRCULATION WHICH THEREBY PUMPS UP THE ECONOMY.

WEALTHY REPUBLICANS WANT TO KEEP OUR MONEY.

[radiob2]

Posted by ubrew12 at 07:45 AM : Sep 21, 2008

Exactly and why are their assets not being seized in order to pay this off, did they or did they not manage the companies and are directly responsible for this?

[ubrew12]

As long as the taxpayer is buying ''worthless'' assets, we ought to take a look at what we just paid for:

During the last five years of his tenure as CEO of now-bankrupt Lehman Brothers, Richard Fuld''s total salary was $354 million. John Thain, the current chairman of Merrill Lynch, taken over this week by Bank of America, has been on the job for just nine months. He pocketed a $15 million signing bonus. His predecessor, Stan O''Neal, retired with a package valued at $161 million, after the company reported an eight billion dollar loss in a single quarter. And remember Bear Stearns Chairman James Cayne? After the company collapsed earlier this year and was up for sale at bargain basement prices, he sold his for more than $60 million.

[radiob2]

Derugulation was suppose to allow the consumers more choices, what happened with a democratic congress who passed all of the deregulations bills in the Reagan era was that the companies monopolized by buying up each other. End result monopolys and less choices. Can you choose who to buy your electric, gas or water from?

[scorpio59er]

ull-Spectrum Breakdown

The problems cannot be resolved by shifting the debts of the banks onto the taxpayer. That''s an illusion. By adding another $1 or $2 trillion dollars to the National Debt, Paulson is just ensuring that interest rates will go up, real estate will crash, unemployment will soar, and foreign central banks will abandon the dollar. In truth, there is no fix for a deleveraging market anymore than there is a fix for gravity. The belief that massive debts and insolvency can be erased by increasing liquidity just shows a fundamental misunderstanding of economics. That''s why Henry Paulson is the worst possible person to be orchestrating the so called rescue project. Paulson comes from a business culture which rewards deception, personal acquisitiveness, and extreme risk-taking. Paulson is to finance capitalism what Rumsfeld is to military strategy. His leadership, and the congress'' pathetic abdication of responsibility, assures disaster. (MORE)

http://www.counterpunch.org/whitney09202008.html

[hung_hin_chu]

The beauty of America is democracy: one person one vote.

Can 300 millions American have vote on whether support "$700 billion Debt" policy?

[smirk5]

The moral thing to do would be to endure another depression that we have earned. Instead, we''re going to steal from our Grandchildren to keep the party going.

[radiob2]

I have been a democrat my entire life until about 5 years ago when I realized that both parties are equally corrupt and just peddle a different message with the same results in the end. This bailout has to be passed through congress and who controls congress now?

[smirk5]

FENNER,

"Opening up the health insurance market to more vigorous nationwide competition, AS WE HAVE DONE over the last decade in banking, would provide more choices of innovative products less burdened by the worst excesses of state-based regulation."
John McCain

"AS WE (John McCain and his buddies) HAVE DONE"
Anyone with sense knows who the deregulation lovers are. McCain is a one of them. Keep preaching to the 25 percenters out there who still love Bush. They''ll believe you.

[cozzicon]

"DAMM THE BREAD LINES FULL SPEED AHEAD!!--Posted by ajaxtheleast

Ha! Better to just move north and learn a new song!

O Canada!
Our home and native land!
True patriot love in all thy sons command.

With glowing hearts we see thee rise,
The True North strong and free!

From far and wide,
O Canada, we stand on guard for thee.

God keep our land glorious and free!
O Canada, we stand on guard for thee.

O Canada, we stand on guard for thee.

[ubrew12]

cozzicon said: "where will we be in 10 years? "

''You load sixteen tons, what do you get?
Another day older and deeper in debt.
Saint Peter don''t you call me ''cause I can''t go,
I owe my soul to the company store.''

Depression Era coal miners song

[ajaxtheleast]

Dems last chance !!!

Shouldn''t we be getting tired of believing
what the Republicans say will happen if we
dont do something else !!??

Dems last chance to prove they have guts.

We''re told it''s bread lines or the
BIG "something else" this time.

The Moron-In-Chief wanted something by
"monday".,,,very suspicious.

I want to see us a BIG fight in Congress
over these 700 B''s.

BIG FIGHT!,,,,knock down drag out,,,
have Graham screaming his southern
ya''ll kin go ---- yurself!, have
Boener crying real tears this time,

That''s right ,,,DONT give them the 700 B''s!!

Repubs act radical, mess up and then turn
back to dems to act normal!!,,,

Let''s show THEM " radical for a change.

Let''s act crazy, scare the heII out of them,,,

"Man, these guys are nuts!,,we better watch
what we do!!,,,We cant come running back
to these idiots to solve our problems!!"

DAMM THE BREAD LINES FULL SPEED AHEAD!!

[radiob2]

All of the CEO''s of these companies should have all of their assets take away from them, they have mismanaged their corporations. The banks and their CEO''s who lent the money to people who could not afford to buy a toilet seat on credit should have their assets seized. This was greed from the banks to the brokerages with predatory practices upon some of the most economically ignorant people of the US and who now will pay. The US taxpayer for generations to come. We will be owned more and more by foreign nations mainly China than owned by our own people.

[cozzicon]

The gross national debt:

9 Trillion or so.

The bail out:

700 billion.

Can someone please explain how increasing the national debt by just under 10% solves a problem?

Oh sure... it solves the short term problem.

But where will we be in 10 years?

[max0010]

Back on May 25, 2006 John McCain spoke %u201CI join as a cosponsor of the Federal Housing Enterprise Regulatory Reform Act of 2005, S. 190, to underscore my support for quick passage of GSE regulatory reform legislation. If Congress does not act, American taxpayers will continue to be exposed to the enormous risk that Fannie Mae and Freddie Mac pose to the housing market, the overall financial system, and the economy as a whole. I urge my colleagues to support swift action on this GSE reform legislation%u2026%u2026%u2026Barack Obama and other Democrats OPPOSED and did nothing. Barack Obama was receiving cash (lots of money from Fannie Mae and investors) http://hotair.com/archives/2008/09/17/mccains-attempt-to-fix-fannie-mae-freddie-mac-in-2005/

[endmathabuse]

Zandi''s figure is misleading. 700B is the maximum that the government can borrow at anyone time to buy. As anything is sold or worked out, the government can keep buying until all it has is toxic waste.

This is no RTC. The RTC disposed of assets of *failed* institutions--S&Ls that were either liquidated or sold to new owners. Pauslon wants those who get the taxpayer bailout to go on and earn future profits, perhaps doing the same stuff that got us here.

[skyk239]

Without a doubt we are going to face some VERY serious HARD TIMES in the upcoming years and that is at the best we can do. To elect someone like McSame isn''t logical based on the fact that he hasn''t a clue how to solve the problems, has Lobbyist as Advisers who are DIRECTLY responsible for the Crisis and bigotry/hate would be the ONLY reason he''d be President. THAT my friends is a prescription for Social Upheaval we haven''t seen in a very long time. The Working Stiff will be the one to bear the burden here. The SAME Working Stiff who has been sold a LIE about Trade Agreements and is now competing with workers making 30 Cents a DAY in Wages. Yep going to be a VERY rough ride even with someone who CAN inspire us... McSame IS NOT that man.

[jusfall1]

People better wake up and realize that is is not just the republican''s or democrats fault. It is the underground economy. All of the mortgage crisis is due to Lost Notes not the claims of subprime mortgages. Sure people are responsible for what they borrow. Does United States even own the United States anymore? A Lost Note was originally set up as a legitimate document. I sent over 80 million dollars of lost notes to Snow the Secretary of Treasury back in 2003 or 2004, showing how the banks were involved. The American people always get blamed for everything. So if you want to continue living here in the USA, everyone better realize the corruption out there.

[jsw1127]

The lesser of two evils is still evil.
Vote for Bob Barr

[smirk5]

firmique,

"Where are the evidences that it was Osama''''s fault that U.S is in financial crisis?"

Never said that. Obviously, I was making the point that the Bushies through their actions are accomplishing the main goal that Osama Bin Laden has. He wants to bankrupt the U.S. and the Bushies are helping him do it.