Protesters Lash Out At Bailout Plan

At Rallies Large And Small Around The Country, Taxpayers Speak Out About The Bush Admin.'s Economic Rescue Plan

(CBS/AP)  As Democratic and Republican leaders hashed out a compromise to the Bush administration's proposed $700 billion bailout of struggling banks, Americans took to the streets.

In Denver, several dozen protesters gathered Friday on the steps of the state Capitol to oppose the proposed federal bailout of the financial industry.

The protesters shouted "Jail them, not bail them," and "Main Street, not Wall Street."

Protesters included members of the Colorado Green Party, union workers and the Rocky Mountain Peace and Justice Center.

Center spokeswoman Carolyn Bninski told the small but vocal crowd that greedy bankers and investors were responsible for the current crisis. She said taxpayers shouldn't bail them out.

Also yesterday in Washington, demonstrators with signs picketed outside the U.S. Treasury Department.

Rainbow PUSH coalition founder Jesse Jackson, who headlined the Washington demonstration against the financial bailout, urged a hold on further foreclosures and allowances for people to restructure their mortgage deals.

And in New York, a demonstration sponsored by the group Bail Out People Before Bankers was held in Times Square on Saturday.

This followed Thursday's massive demonstration where thousands descended on Wall Street to oppose the administration's proposal to spend up to $700 billion of taxpayers' money to relieve banks of their bad debt.

Other demonstrations of opposition to the plan - some spontaneous, others quickly organized over the Internet - have been sighted in Akron, Ohio; San Francisco; Austin, Tex.; Chicago; Green Bay, Wis.; Portland, Ore.; Newark, N.J.; Ventura, Calif.; and Greenville, S.C.

[staplesla]

Contact congress NOW, NO to the Bailout! www.house.gov/writerep

[zwaggsy]

While it''s nice that a government takes control off an emergency I can''t help but wonder where do the bailouts end? It would also be nice to know if there are any conditions or penalties involved in these "rescue packages" or are they simply early Xmass pressies for the exec''s?

And Nancy since when has any nation practised it''s ideals or preachings?

[maverickgrn]

Isn''t there a fundemental differnce between a good investment and a bad one? Even looking at this from the most socialist POV I can imagine, it simply makes no sense. The idea of using public financing to make SOLID investments in the FUTURE of America is controversial enough. Why in the world would it be smart for us to invest MASSIVE amounts of public monies in KNOWN FAILURES? I can''t understand how this make sense to any liberal OR conservative American.

[staplesla]

As an economist I can clearly state this bailout is absurd and I sincerely hope everyone contacts their congressmen immediately to vote NO on this measure. We have a market failure and our lack of oversight over the past decade has led us to this dire mess. However, everyone is acting out of panic and not thinking about the long term consequences. This bailout only benefits the institutions that got us here in the first place.

We must let capitalism survive and play itself out. Institutions that engaged in poor or unethical business practices should be left to die. And those who continue to be strong will rise to the top even stronger. Encourage Congress to:

1) Realize the government%u2019s first responsibility is to the taxpayer, not Wall Street. There are solutions for Wall Street to work out their problems rather than taxpayers bailing them out. 2) Impose transparency, oversight and market reform. Lack of oversight is one of the reasons we are in this crisis. 3) Not reward Wall Street execs who got us into this problem. 4) Give tax relief that can help companies free up capital.

Regardless of whatever happens every American will face a tough time. But I don%u2019t believe in printing extra money to cover this bailout, thus increasing inflation. If we do, our kids and grandchildren will be forced to pay for this.

And if we do this bailout, what is next? The airline, auto, homebuilder industries?

Email or telephone your congressmen Now before it is too late!

[BeyondGreen]

We need to act as a nation to utilize every resource available to us to loosen the grip our dependence on foriegn oil has on us. Our economy is in a sorry state of affairs directly related to the high cost of fuel which affects everything from loss of jobs to a record loss of homes not to mention the rise in cost of all consumer goods. We have become so dependant on foreign oil that we have neglected to fully utilize such natural sources of energy such wind power & solar power. Along with modern technology such as plug in cars, hybrid cars, v2g technology ,and regenerative braking technology. We still seem to be floundering as a nation as to devising the best plan utilize all that is available to us and lift ourselves out of this mess we are in. We need to take our closest look at which candidates put our economy and energy crisis at the forefront of their agenda. The Manhattan Project of 2009 by Jeff Wilson pretty much says it all...

[strewthmate]

jail them, not bail them! (that says it all)

... quick, where can I get the t-shirts and bumper stickers?

[bob5ford]

BAILOUT - JUST SAY NO!

[tachoma-2009]

Remember ENRON? corp greed inflat worthless stock and the people at the top walk away with lots of money while the stockholders get shafted and lose everything. Now they want to take future tax money to pay for it which going to take 2 future generations to pay back.

[gunnertwo1]

How come the CEO of Washington Mutual, who had control of the bank for 17 days and did nothing to save it, gets to leave with 20 million dollars as a thank you gift? I think this is on top of 8 million they hired him for. There is no way this guy could be worth over a million dollars a day. Failure is rewarded? And as taxpayers we are supposed to pay for their mistakes while the CEO''s make a fortune. Criminal charges need to be brought against this guy and the other CEO''s. The money bestowed on them for bad decisions needs to be returned to the taxpayers.

[lemonskink]

I did my part to protest this profit making bail out.

http://www.youtube.com/watch?v=EcZSh1diQRQ

[veteran22]

Again, the poor will be robbed so that the rich can get richer. These Hood Robins (Robin Hood in reverse) will be richer than ever, they will be able to say that the Republicans were against increased taxes and that Democrats are tax/spend liberals who sided with Bush. For Republicans and the rich it is a win/win/win bonanza. They get richer and still look like heroes. For Democrats and the poor it is a lose/lose/lose. Republicans are clever and cunning and always 3 moves ahead of Democrats. They are a menace and it is a big mistake to under estimate them.

[txgrouch2006]

Remember ENRON?
Posted by tachoma at 06:10 PM : Sep 27, 2008

Yes. It was common knowledge that accounting fraud was running rampant during the Clinton years.

Now banking fraud has run rampant during the Bush years.

This is just the sequel to the Clinton fraud. Bush didn''t want to be outdone.

BUSH IS TO BLAME
AND CLINTON IS TO BLAME
AND BUSH IS TO BLAME
AND CLINTON IS TO BLAME
AND BUSH IS TO BLAME

[txgrouch2006]

the CEO of Washington Mutual, who had control of the bank for 17 days and did nothing to save it, gets to leave with 20 million dollars as a thank you gift Posted by gunnertwo1 at 06:15 PM : Sep 27, 2008

$20 million for 17 days of work. That works out to $147K per hour.

NICE JOB! I''ll bet he called Mom to tell her about THAT one.

[txgrouch2006]

TERM LIMITS FOR ALL MEMBERS OF CONGRESS - that''s my solution.

[limaur]

Retards, all of you.

[txgrouch2006]

Retards, all of you.
Posted by limaur at 07:20 PM : Sep 27, 2008

Look who''s talking.

[fedup_w_pols-2009]

TERM LIMITS is the right answer to even begin to solve our problems. Till we get that the rest is all a show for the public. We want the heads of the CEO''s that ran the economy into the ground but we repeatedly send the same politicians back that have spent 10 TRILLION we don''t have already themselves, why are you not calling for ALL their heads DEMS and REPUBS they are both just as guilty for causing our problems and neither is the solution to any of them.

[txgrouch2006]

After Obama wins the election, FLOOD the Oval Office with letters asking him to issue an executive order for TERM LIMITS on all members of Congress.

[notfooled]

After Obama wins the election, FLOOD the Oval Office with letters asking him to issue an executive order for TERM LIMITS on all members of Congress.

Posted by txgrouch2006 at 07:26 PM : Sep 27, 2008

Don''t wait for Obama - vote all incumbents out.

[veteran22]

Where is Queen Nancy when we need her...Just say no to this bailout mess her demented husband started with his free market enconomy needs no regulation revolution. He was dead wrong.

[middleman8]

Why do the people of Iowa & Nebraska never stand up against any injustice''s ?
never see their names.

[zietzke-2009]

Did everyone see that The President will be vetoing a
$ 61 billon package to help out the middle class to provide jobs and re-build schools and so on.....

How can this special interest run government even look you in the eye when they ask for $ 700 Billion for the bail out ? This is robbery, pure and simple.

WE THE PEOPLE ?..... WHAT A JOKE!

Thanks Bush ! Your fathers "new world order" is upon us. The "Have''s" and the "Have Mores" ( your political base, as you have actually said at one of your posh events )must be celebrating again.

This will be the biggest money grab in history.

Like a famous British lord once said....." Keep the people: poor, demoralized and fearful. This will effectively control the populations of the common man". It''s happening.....This is an outrage !!

To our Government:
Have fun trying to collect taxes from outraged Americans who will be refusing to file or pay taxes into an obviously corrupt / criminal system of government. Many Many People are currently organizing to do just that...NO MORE FILING or PAYING TAXES.

The current Government is not representing the PEOPLE. This should be interesting.

[marshall_nee]

Retards, all of you.

Posted by limaur at 07:20 PM : Sep 27, 2008

Is there something we should know?

[zietzke-2009]

Hey Marshall_NEE:
Get a life !!

[clovisbuford]

Don''''t pay taxes anymore, those morons in congress will disapear for ever, especially **** bong hole bledder Barney the queer frank, Piglosi, Reid, Kennedy, Kerry and the rest of the crimminal liberal freaks.
Posted by zgomer at 07:47 PM : Sep 27, 2008
Its funny how you name calling conservatives ignore the fact its deregulation of wall street and the business world that led to this , then democrats are supposed to pick up the pieces , your under 50 grand a yr behind will continue to support corporate welfare for the rich at the cost of the middle class . you boys wanted deregulation "get government out of the way" government is the problem" , well you got what you prayed for , live with it .

[jellolion]

Bush always pushes his most radical right wing agenda as soon as a crisis hits. Notice him saying "time is wasting, you need to hurry up and approve my 3 page plan". Congress will probably cave, then they may as well go home because once 700 billion gets in the hands of a bushie, with no oversight, congress will be completely irrelevent. We will no longer be a democracy.

[jellolion]

we knew about the mortgage problem for more than 2 years. Why did they let it ride up until the point of collapse? A few months ago, the treas secretary was saying to congress that our economy is healthy and strong. This leaves us with the common choice when it comes to these common cases of US government corruption: he is either lying, or he is stupid.

This is the guy who was CEO of Goldman Sachs. Of course he knew what was going on. So he was lying. Now he wants 700 billion dollars. Hurry up. You need to approve it quickly, or terrible things will happen. Terrible things will happen. Just like every other time they approved something too quickly without adequate checks and questioning.

[stn_sage]

Bush always pushes his most radical right wing agenda as soon as a crisis hits.
Posted by jellolion1 at 08:33 PM : Sep 27, 2008
------------------
Wrong! He insinuates a crisis exists or he let''s controllable events build up until he can assert a crisis exists, then HE creates a crisis by insinuating it exists! Just like the weapons of mass destruction scam!

What irritates me is, you''d think after having gone through this so many times with this idiot, that people would see it for what it is: a SCAM!

But, NO! They don''t, because they''re even stupider than he is! The result is: everyone who isn''t rich is going to getted punished BIG TIME on this deal!

Primarily, because there''s no counter-balancing force in government anymore! Nancy Pelosi, is without doubt, one of the worst---if not the worst---majority leaders in American history.

This is what happens when you get a bunch of incompetents who come along and occupy the reigns of power at the same time! Disaster after disaster!

[stn_sage]

VOTE ON THE BAILOUT YOU BUNCH OF USELESS MORONS!
SO, WE CAN VOTE YOU OUT OF OFFICE! GET IT OVER WITH!

[jellolion]

weapons of mass destruction came after a crisis - 9/11. If it werent for 9/11, Bush would not have been able to invade Iraq. Bush waits for a crisis, then uses it. 9/11 for invasion of Iraq, high gasoline prices for offshore drilling/drilling in the artic wildlife refuge, now mortgage crisis to put all of the money in the hands of his guy, who will probably bail out republican friendly investment firms, and who knows what else. Do you think bush made up these crises??

[jellolion]

I have to say, this shows that the so called 2-party democracy we have is a complete failure. You scratch my back and I will scratch your back. People switiching back and forth between parties and it doesnt make any difference, because the 2 parties are essentially the same. We need to END THE 2 PARTY DICTATORSHIP!! Term limits wont fix this mess. We need more parties in there. More check and balances. People who are not in on the action, who can observe and report what is really going on. I dont care what the parties are- green party, libertarian, socialist party, we just need more viewpoints since what we have is obviously completely corrupt, and/or incompetant.

[jellolion]

and if I see McCain and Lieberman hugging again, I am going to vomit. They are all in on the same game. McCain knows, he was a veteran of the savings and loan scandal during the Reagan administration. He has been a de-regulation proponent, just like Reagan. We are now getting the fruits of all those policies. My father was a banker back in those days. I remember he was so uncomfortable with all the deregualtion going on in the banking industry.

[txgrouch2006]

After Obama wins the election, FLOOD the Oval Office with letters asking him to issue an executive order for TERM LIMITS on all members of Congress.
Posted by txgrouch2006 at 07:26 PM : Sep 27, 2008

Don''''t wait for Obama - vote all incumbents out.
Posted by notfooled at 07:43 PM : Sep 27, 2008

History shows that we can''t rely on the voters to do that. Look how long scoundrels like Ted Kennedy and
Strom Thurmond stayed in office.

No, we need a CLEARLY STATED LAW that says members of Congress can''t get more than two terms, just like the President.

Sure, you can try flooding Bush''s Oval Office with letters and emails asking HIM to issue an executive order. But at this point, I''m not so sure he can read. So I''m not sure what good it would do.

[iphyt4u]

No Bail Out! Americans Unite! No Bail Out!

[stevex47]

Pretty amazing how many repubs are defying boosh''s plea''s.

[stevex47]

What''s going to happen with no bail out?

Dollar value severe drop?

Car/home loans dry up?

Home prices up or down?

People lose IRA''s?

Massive layoffs?

Should we just have the vote now, and get boosh co. out of there?

[txgrouch2006]

What''''s going to happen with no bail out?
Posted by stevex47 at 10:59 PM : Sep 27, 2008

The same things that will happen WITH the bailout. Only worse.

Either way, our economy is wrecked.

And don''t forget, the first Baby Boomers are just getting old enough to start collecting early Social Security. They''ll stop buying stocks and mutual funds and start selling them.

You think the market is depresssed now, wait a few years...

[ballardr1]

The whole crisis is fabricated. It was the most complicated fraud Ponzi scheme ever. Wall Street knew that leveraging these mortgage backed securities would not be sustainable. They made money off the origination & the mortgage payments. Then they packaged the mortgages as mortgage backed securities and sold credit default swaps (many times). Now the pyramid is collapsing. Why bailout? What we are buying is less than worthless.

Oh and they say we have to act quickly. But the problem has been well know for a long time.

Check out this article from Time, dated March 17 2008
http://www.time.com/time/business/article/0,8599,1723152,00.html


http://therealnews.com/t/index.php?option=com_content&task=view&id=31&Itemid=74&jumival=2408&updaterx=2008-09-26+19:18:57

around 2:20 Dr. Michael Hudson

[dcitizen-2009]

**Congress Disconnects Main-Street
Dear Senators and Congressmen: Before you jump to shore-up Wall-Street to the tune of $700billion to well over a Trillion taxpayer dollars, you might wish to take a look of what is happening on main-street. THERE IS A RUN ON THE BANKING SYSTEM HAPPENING AS I SPEAK. THIS WILL ONLY ACCELERATE WITHIN THE NEXT SIX ( 6 ) MONTHS, exceeding the capacity of the F.D.I.C. to cover insured accounts. In addition, there will be mounting strains on the Pension Benefit Guaranty Corporation ( PBGC ). as plants shut-down, corporations file for bankruptcy and premiums paid to PBGC dry up. Although not yet a direct obligation of the U.S. Government/ Treasury, when 400,000 + ex-employees now potentially covered, are told that there are not sufficient funds available to pay the fund guaranty of $4,312.50 per month ( $51,750.00 per year ) there will be major social unrest, and Congress will need to come-up with additional $$$billions. The public will not tolerate, being left-out and left-behind. If you think there is a credit crunch now, wait until you bail-out Wall-Street, you will see U.S. unemployment climb past 15% as foreign banks and investors recover their losses from U.S. Treasury Bail-Out funds, and major U.S. financial institutions and investors transfer Bail-Out funds offshore; leaving Main-Street U.S.A. out-in-the-cold.
http://socrates911.blogspot.com

[jaslinger]

how about the media snuffing out the real culprit of the financial crisis ...

http://darkegop.blogspot.com/2008/09/abc-news-is-stifling-user-comments-that.html

[latazman]

No Bail Out! Americans Unite! No Bail Out!
Posted by iphyt4u at 10:36 PM : Sep 27, 2008

Phone and email your congressmen/women.

Guess who will be in on the profits of buying devaluated stocks and selling high at the tax payers expence? Wonder what a couple of hundred billion split amoung TAX PAYERS would do forthe economy!!!!!

[nothappyatall]

several dozen protesters gathered Friday on the steps of the state Capitol"

Oh WOW, several DOZEN, that''ll get noticed... NOT!
I got a beter idea, how about every citizen starting Monday refuses to pay tax any more?- that includes sales tax- if ALL the customers in a store tell the cashier they refuse to pay the sales tax, to give them the goods at the price tag price or they walk out, refuse to send in those quarterly estimated tax checksetc the Govt can be brought to it''s knees in a couple of weeks.
WE pay almost 50% of the money the Govt takes in- in income tax alone, make that 50% go away along with sales tax etc and the Govt will cease to function and will have to do what WE tell them to do.

[nothappyatall]

several dozen protesters gathered Friday on the steps of the state Capitol"

Oh WOW, several DOZEN, that''ll get noticed... NOT!
I got a beter idea, how about every citizen starting Monday refuses to pay tax any more?- that includes sales tax- if ALL the customers in a store tell the cashier they refuse to pay the sales tax, to give them the goods at the price tag price or they walk out, refuse to send in those quarterly estimated tax checksetc the Govt can be brought to it''s knees in a couple of weeks.
WE pay almost 50% of the money the Govt takes in- in income tax alone, make that 50% go away along with sales tax etc and the Govt will cease to function and will have to do what WE tell them to do.

[trrrorislamj]

HUSSEIN PLANS TO STEAL THE ELECTION

WILL YOUR VOTE COUNT???

OR WILL ACORN VOTER FRAUD STEAL THE ELECTION???

HUSSEINS OTHER RADICAL MARXIST HATE AMERICA ASSOCIATION

http://www.google.com/search?hl=en&q=OBAMA+ACORN VOTER FRAUD

The Acorn Indictments
A union-backed outfit faces charges of election fraud.
http://opinionjournal.com/editorial/feature.html?id=110009189


ACORN Workers Indicted For Alleged Voter Fraud
http://www.kmbc.com/politics/10214492/detail.html

Inside Obama''s Acorn
http://www.aina.org/news/20080529155204.htm

[trrrorislamj]

HAVE ANY MONEY LEFT???

MARXIST HUSSEIN PLANS TO GIVE YOUR MONEY TO THE WORLDS POOR,,,

GLOBAL POVERTY ACT

http://www.google.com/search?hl=en&q=OBAMA+GLOBAL POVERTY ACT

YOU CAN KISS YOUR HARD EARNED MONEY GOOD BYE,,,

HUSSEIN SAYS THE WORLD POOR NEEDS IT MORE THAN YOU DO,,,

HUSSEIN PREFERS FOREIGNS OVER AMERICANS,,,

[book54552134]

After being forced to pay for an expensive & unnecessary war in Iraq, the overwhelming majority of the American people did not want another Trillion dollar burden foisted upon them. (With the bailout of Fanny/Freddie, AIG, & Bear Sterns, the true cost of the bailouts, with this 700 Billion, will come to about One Trillion.)

It will not be the wealthy which will be required to pay for this Corporate Welfare. It will be the Middle Class the poor who will be forced to pay, either by way of increased taxes, or a reduced standard of living.

What''s worse, is that these bailouts cannot change the end result. After all, the corruption which caused this crisis, (record trade deficits, transference of US employment overseas, falling wages for the masses, banking corruption, war/military largess, & record budget deficits,) is still intact.

Get ready! All hell is going to break loose in the economy, next year regardless of who is in charge.

Our utterly corrupt & Fascist government at work.

"Fascism should rather be called Corporatism, as it is the merging of government and corporate power."
Benito Mussolini

[babooph]

Paulson-[Goldman sacks guy}-was happy at the fortunes they ripped off for themslves-[propaganda system called the crooks "businessmen!"]Now has the taxpayers pay for the scam -NOT A PENNY RETURNED BY HIM OR HIS CROOKED GROUP!!!NO PRISON------SOCIALISM 4 THE RICH[wonder why they do not like it !!]

[element51]

ibsteve2u....Are you still on line? My posts are being deleted almost as fast as I put them up. Yours seem to be missing too.

[rushlimpdrug]

700 thousand million dollars.

wow.

[mainedoggie]

=======
Raised by a COMMUNIST... Socializes with a TERRORIST....Sits in a pew for over 20 years listening to a RASCIST...

OBAMA FOR PRESIDENT?

Posted by krisinal
===============


Yep. So suck it up.