Comments on: Bailout Failure Fallout

[themimi1]

If you haven''t been reading, EVEN IF THEY PASS THE BAILOUT, HOME PRICES ARE GOING TO CONTINUE TO DELINE, JOBLESSNESS IS EXPECTED TO REACH 7.5%, FUEL PRICES AND GROCERY PRICES ARE EXPECTED TO RISE. So what are we getting for this bailout? Investors won''t go broke! And who profits from investment money? The same jerks that got us into this mess to begin with! We''re being conned here- and it''s a big one! They expect to break us over like a shotgun and load us up with an enormous debt we''ll never be able to pay off! Not on my watch, if I have anything to say about it. They made this mess- let them fork over all those billions in profits and learn to live with what they''ve got!

[themimi1]

Get a grip people! Your grandparents lived through a depression, you can, too! You won''t be able to hang onto the plush lifestyle you''ve enjoyed up to now, but you won''t die from the loss. Sometimes you have to start from nothing to be able to see what you really DO have! Your grandparents piled in with their parents and siblings and they learned how to live together and pool their resources. My family lived on flap jacks and salt pork and used half the beans they had to plant and grow more for food! You can do it! You can make your wat through this- you may not think you can- but you will.

[shingles1]

Washington Monthly:

What''s odd is how easy it is to expose McCain''s claims as ridiculous. He didn''t put his campaign "on hold for a couple of days"; McCain never actually suspended his campaign at all. He didn''t "fight for a rescue plan"; McCain never actually fought for any plan at all.

McCain may not think he likes to "simply phone in it," but when the bailout negotiations were ongoing, McCain literally phoned in it. Fighters may belong "in the arena," but when policy makers were hammering out the details of the proposal, McCain was hanging out a fancy restaurant with Joe Lieberman.

On Thursday afternoon -- ostensibly the time McCain was working on this issue for the first time -- McCain "rarely came close to the Capitol suites and committee rooms where the talks were taking place." He went to a meeting at the White House, where he proceeded to sit silently while others worked on the legislation. On late Thursday afternoon, after smiling for the cameras, McCain was back in one of his several homes by 6 p.m.

And yet, today, McCain wants Ohio voters to think he''s some kind of hero, working tirelessly to craft bailout legislation. He really does think voters are fools.

[themimi1]

It''s about time congress grew some b---s! They''ve been dancing to Wall Street''s tune for so long, now, and in bed with big business so many times, it was beginning to smell like a pron movie!! They talk about the tools in their tool kit and working with what they have-- they sound like dejected lovers!! Like I said Give the American people enough to pay off the bad loans, it will ultimately cost less than giving these people a trillion dollars! We will pay off what ewe owe, and you can raise our taxes enough to cover it and we won''t suffer nearly as much as if you give it to these guys! They''ll just do a pencil adjustment and in a few years we''ll have to do it all over again!! They want to sell the government the loans at the inflated value, interest and all- if you give it to the people, make it illegal for mortgage holders to charge a fee to pay off the loan early, and make people account for the money they paid at tax time, so they won''t just pocket the money and end in default again. I only owed $38000 when they reposessed my house, but by the time they tacked on all sorts of stuff, it''s now at $70,000. I never want to see my kids or grand-babies have to go through the things I''ve seen. So if we have to take our medicine and the market goes through the floor- so be it!

[ragnar30066]

This evidently is not as urgent a crisis as it has been made out to be. Bush has been trying to prevent it going back to 2001, and McCain has been trying to prevent going back to 2005.

So why does it now crystallize, almost at the exact same time that absentee voting begins? I guess for the same reason that some people were wanting us to lose the war, or to suffer another catastrophic hurricane.

For some people, power is everything, and the ends justify the means.

The voters need to vote on that!

[dudeky]

YOU PEOPLE IN WASHINGTON ARE NOT THE LEAST BIT WORRIED ABOUT LITTLE PEOPLE LIKE ME....YOU HAVE ALL THE MONEY YOU NEED AND YU SIT UP THERE IN ALL YOUR RICHES AND LET US SUFFER......ONLY WORKING PART TIME AND STILL HAVE TO PAY MY MORTAGE.....AND DO WITHOUT IN OTHER AREAS.....YOU ARE NOT KIDDING ANYONE WHO HAS ONE EYE AND HALF SENSE.....YOU ARE WANTING IN THE POSITIONS FOR MONEY NOT BECAUSE YOU CARE ABOUT US OR AMERICA...YOU CARE ABOUT YOURSELF AND ALL THE MONEY YOU CAN GET.....IF ALL OF US MADE THE SAME AMOUNT NO MATTER THE JOB WE WULD ALL THEN BE EQUAL....YOU ARE NOT RUNNING FOR US BUT FOR WHAT YOU CAN GET ........

[dudeky]

WHY SHOULD WE EVEN CONSIDER PAULSON DOING ANYTHING....WAS HE NOT ALREADY IN CHARGE AND GOT US HERE?????WAKE-UP PEOPLE WE CANNOT KEEP ON LETTING THESE NUTS RUN OURS LIVES ANYMORE....IF THERE WAS SOME WAY TO TOTALY REGROUP....GET RID OF THEM ALL AND START FROM SCRATCH....WANT TO GO HELP ME GET IT DONE???WE COULD SURELY NOT DO ANY WORSE THAN ANY ONE IN THE PAST......

[dudeky]

I AM AFRAID OF BOTH OF THESE FOOLS...WE DO NOT STAND A CHANCE IN HELL OF GETTING OUR COUNTRY BACK....PALIN CANNOT DO IT ON HER OWN AND OBAMA IS NOT SMART ENOUGH..SO WE ARE DOOMED....IF THESE FOOLS WOULD HAVE BEEN DOING SOMETHING FOR YEARS LIKE 25 TO 30 YEARS AGO WE MAY BE OK BUT NOT NOW.....IT IS NOT MORE ONE PARTY THAN THE OTHER.....IT IS PEOPLE IN AMERICA.....WE HAVE PUT IN THESE POSITIONS...AND NOW THEY HAVE FAILED US ALL.....

[dudeky]

WE ARE NOT GOING TO GET OUT OF THIS FAST......IT TOOK YEARS TO GET HERE AND WE ARE NOT GETTING OUT FAST....DO NOT FEEL EITHER ONE OF THESE CANDIDATES CAN GET US OUT EITHER.....BUSH SHOULD HAVE TO COME UP WITH THE MONEY HIM AND HIS GOONS....

[gsegreto-2009]

The failure is in the court of the executive branch. Paulson knew of this for many months and likely for several years. He failed to take steps to avoid this. Then he compounded the crisis by announcing a made up deadline. We can easily place the blame for this on the shoulders of Paulson and Bernake.
This bill is necessary only if we refuse to consider alternatives. Scrap the Paulson plan and start over. Since the concern is to get loans flowing to American businesses, find a way to fund regional and local banks all across the country and cut out those who perpetrated this debacle. The market will hand them their verdict.
We need options for those in default of the mortgage. I further suggest that every adjustable rate loan in the country be given the option to renegotiate into a fixed rate without qualification so long as their payments are on time. If homeowners are making what ever sacrifice they need to in order to keep their home then we need to allow them to continue to do that.
As for Paulson and Bernake, they need to be stripped of their positions. There is no way that they were ignorant of this situation more than 12 months ago. I suspect they knew it was coming for several years. But they did nothing. They allowed it to brew to a crisis and then used it as an attempt to grab still more power. Replace Paulson and begin the process of minimizing the power of the Federal Reserve.