Comments on: Top Senators Skeptical Of Bailout Plan

Despite Dire Warnings From Fed Chair, Sen. Dodd Says $700 Billion Plan "Not Acceptable"

[whitemale08]

PAULSON IS REALLY MICHAEL MILKEN THE ''JUNK BOND KING''!!!

DON''T BAIL OUT WALL STREET!!!!

CALL YOUR CONGRESSMAN AND TELL THEM ''NO BAIL OUTS''!!!

[whitemale08]

LET WALL STREET GO BANKRUPT!!!!!!

TAKE OVER THE REAL ESTATE ''ASSETS'' NOT ''DERIVATIVES''!!!!

NO BAIL OUT FOR WALL STREET!!!!!

There''s a difference between government controlled SECTION 8 housing and worthless "derivatives".

DERIVATIVES ARE NOT ''ASSETS'' THEY''RE JUNK BONDS!!!

[riddelup]

I have a irresponsible brother in law who wanted to live in a house larger than he could afford. He asked me to loan him the money. Now I knew he would have trouble paying me back, but he argued I could not lose because the house would increase in value every year. I do not even like my brother in law but I saw an investment with no loss potential. He would pay on what I considered my investment and when he defaulted I could cash in, win win. If he did not default in 5 years I had structured the loan payment to double. What a set up! Imagine my surprise when home prices fell because all my associates were doing the same thing. Now my brother in law refuses to pay me for some lame excuse like the payment is too high or the home is not worth the mortgage, I lost my job, you tricked me, or some other lame excuse. Now I am stuck with an under valued asset. Could you please bail me out? I only need 700 billion dollars

[armydog2]

call your Senators and Congressmen and tell them what you think about this. I did and I informed them if this goes they loose my vote. Can''t hurt.Oversight and accountability is a must. Cut ceo''s pays and benefits in half,we will foot the bill for this and so will our children and grandchildren and probably our great grandchildren, we definitely need to have a voice in this.

[nextgenman]

Fed plows $30 billion in money markets overseas
Wednesday September 24, 1:42 am ET
By Jeannine Aversa, AP Economics Writer
Federal Reserve plows $30 billion into money markets overseas to ease credit stresses

WASHINGTON (AP) -- The Federal Reserve, in coordinated action with foreign central banks, plowed $30 billion into money markets overseas Wednesday, part of an ongoing effort to fight a global credit crisis.

[byuboy2u]

If even one executive of these companies retires with a huge package I''m renouncing my American citizenship

[tmittelstaed]

If the bailout DOES happen then the government ends up with all these homes, and they will setup a mechanism then to auction hundreds of these homes off at a time. You and I won''t be able to afford them. Instead, the banks will buy up these lots of homes very cheap, then part out the lots and sell them at a profit to you and I.

In essense, if the bailout happens, then you and I will be paying to prop up the banks who will later buy up large swaths of homes, and then sell them to you and I at a profit for themselves. So we will be paying both ends of the money pipe, as it were.

And if we don''t support the bailout, what then? Well it will severely crimp credit. But, wait a moment. Does that mean all my credit cards will now get lower limits? No. Does that mean my home mortagage will be revoked? No. In short, this supposed severe credit crimp WILL NOT MAKE ONE BIT OF DIFFERENCE TO THE MAJORITY OF PEOPLE.

Indeed, the ONLY people who will be affected are businesses taking out loans to spend on capital equipment. But, guess what. Businesses DO NOT NEED to take out loans to spend on capital equipment. INSTEAD they can simply SAVE money. Just as you and I save up for the new car, a business can save up for the new copy machine or computer or drill press or whatever. Who loses here? Well guess what - the BANKS do - because they cannot loan businesses money and collect interest - instead they have to PAY businesses interest on SAVED money.

[tmittelstaed]

In the midst of all the panic there''s a few important things that cannot be overlooked:

Over the last 5 years America built WAY TOO MANY homes that were UNAFFORDABLE to you and I. THAT IS WHY they were financed with these ARMS and such.

Now we have a GLUT of EXPENSIVE homes on the market. A lot of them right now are owned by private individuals who are in the midst of getting foreclosed on. A little later most of them will be owned by banks. And a little later than that, most will be owned by the government - if the bailout goes through.

You and I are simply not making the kind of money to buy up this glut of homes at the prices they sold for when built. There aren''t enough of us now, when private invdividuals own them, there won''t be enough of us when the banks own them, and there won''t be enough of us when the government owns them.

The only way the market will get these homes back into the hands of you and I is to sell them for what we CAN afford to buy them at.

This you see is what the bailout is all about. If the bailout DOESEN''T happen then most of the banks declare bankruptcy, and sell these expensive homes for pennies on the dollar to you and I at hundreds and thousands of little auctions all over America.

[tawpdawg111]

Can you guess who conservative Washington Post columnist George Will endorsed today?

http://www.washingtonpost.com/wp-dyn/content/article/2008/09/22/AR2008092202583.html

[tawpdawg111]

OK repubs....just 41 more days and then you can pull your pants back up and go to your room WITHOUT dinner.