Bailout Hope Fails To Boost World Markets

Stock Indices In The Red As Investors Show Little Confidence Bailout Can Beat Recession

(AP)  World markets fell Friday in the wake of another plunge on Wall Street amid doubts that Washington's bank bailout plan will prevent a recession in the U.S. and an economic slump around the world.

Dismal data on the U.S. economy - a vital export market - helped send Japan's benchmark Nikkei 225 stock average skidding 216.62 points, or 1.9 percent, to 10,938.14, the lowest since May 18, 2005.

Virtually all Asian markets were in the red. Hong Kong's Hang Seng index slid 2.9 percent to 17,684.40, while key indices in Australia, Singapore, India, Malaysia and Thailand also fell. Only Taiwan bucked the regional trend and edged higher.

European markets opened modestly lower, with Britain's FTSE 100 down 0.5 percent and Germany's DAX down 0.3 percent.

Investors seemed unenthused about the possible passage later Friday of a US$700 billion bank rescue plan aimed at stabilizing the U.S. financial system. A revised version of the bailout bill was passed Wednesday by the U.S. Senate and the House of Representatives was expected to vote on the package Friday, but approval was far from assured.

Still, even if the package passes, investors are pessimistic about the outlook for the U.S. economy - a vital export market - and realize that cleaning up the bad debt mess at the core of the global credit crisis will take a long time.

"The bailout could move us toward a solution, but there are many unresolved issues," said Tim Rocks, Asia strategist at Macquarie Securities in Hong Kong. "We're starting to see the first evidence that the U.S. economy is starting to suffer, and this will have an impact on Asia exports through next year."

Wall Street took a dive Thursday as numbers from the U.S. Labor Department showed that initial claims for jobless benefits increased by 1,000 to a seasonally adjusted 497,000, a seven-year high and significantly above analysts' estimates of 475,000.

Also, the Commerce Department said that U.S. factory orders in August dropped 4 percent compared to July, a much steeper decline than the 2.5 percent drop analysts expected and the biggest setback in nearly two years.

Japanese automakers sank for a second day Friday after the industry reported September sales plunged in the U.S. - their biggest overseas market.

Shares of Toyota Motor Corp. fell 5.3 percent after it said Wednesday that U.S. monthly sales fell 32 percent. Nissan Motor Co. tumbled 7 percent and Honda Motor Co. fell 5.5 percent.

"It is clear the U.S. auto market, for one, is expected to stay sluggish," said Noritsugu Hirakawa, strategist at Okasan Securities Co. in Tokyo.

Other decliners included Nintendo, maker of the hit "Wii" home computer game, which sank 7 percent, and Kyocera, down 3.4 percent.

Rocks of Macquarie Securities said he expects Asian technology, shipping and steel industries to struggle as U.S. consumer demand for Asian exports weakens.

"All the big export sectors are the most at risk," he said. "This is not a good scenario any way you look at it for Asia for next year."

On Thursday, the Dow Jones industrial average fell 348.22, or 3.22 percent, to 10,482.85. U.S. stock market futures were up modestly, suggesting Wall Street would open slightly higher.

The dollar edged up to 105.16 yen from 104.97 late Thursday in New York. The euro climbed to US$1.3862.

Oil prices dipped after tumbling in New York trading. Light, sweet crude for November delivery was down 65 cents to US$93.62 a barrel in electronic trading on the New York Mercantile Exchange.

Markets in mainland China, South Korea and Indonesia were closed for national holidays.

[tincup356]

until the price of oil an gasoline come down to affordable levels to give relief there will be no substantial relief ahead Corporate greed fuels all the worlds problems pushed on by lobby dollars the other major reason for problems is the war stop it and solve many things.

[williewomper]

"I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs."
--Thomas Jefferson

"It is well that the people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning."
--Henry Ford

**************
Two people that we should believe more than Paulson and Bernanke don''t you think?

[whodotcom]

800 billion dollars = $400,000 for every adult with a social security number 18 and over.

WOW, seniors could retire, really.
College students could pay for college.
Government could tax it at 50% and get half of it back immediately.
State Government gets $40,000
Local Government gets $4,000

What would retirees do with $156,000 after taxes?
go traveling abroad
buy stuff from other countries.
Not have to eat dog food.
Not have to live with their selfish children.
Kick that retirement home to the curb.
Live anywhere they want.

Single moms could afford day care, college, tennis shoes, food, good place to live, their dignity

Tell you what they would not have to do, keep asking their dead beat x for money which he could care less about help the children he fathered.

Rich people, what would they do, re-invest. Pay their taxes with the money.

What would working couples do
Save for their children
Feed their children
Cloth their children
Re-finance their home
Buy a car that gets 50 miles per gallon
Maybe afford a vacation

Who would loose, fat, undeserving rich men on Wall Street. But they would also get $400,000 each.

How do we finance this, China is ready to buy bonds, Europe is ready to buy bonds, rich Saudis, rich Dubis, rich Emirates, ready to buy bonds, every country is ready to buy bonds to help the US.

We fall they fall

Where would we spend the money? buy more stuff from China, take a trip to Europe, buy more oil and gas to heat our homes.

[gumpybear]

Bailout Hope Fails...D''oh!
Come on peeps we all knew it would never work...
Think back, why were people buying up fancy cars and second homes? because the value of their first home skyrocketed, so they refinanced used the equity in their homes to go buy all those fancy toys...
now that market has crashed the moneys dry up. homeowner are stuck with a 400k loan and a house worth around 150k. Just because you free up credit people will still walk away which makes perfect economic sense to a struggling family! Fund managers are already looking to foreign markets to invest our tax dollars in, and for good reason. we making nothing in our country, wages are a joke when compared to cost of living.the line between rich and poor grows wider everyday. Forgot middle-class even they find themselves bordering on working poor or about to join the ranks of the jobless! Lets say you pass this bill? how long will it take the market to turn around, 3, 4 months? Half a year is more likely, in which time we lose another 2 million homes to forecloser. Come on people lets be realistic here this proposal fixes noting, not in time at least!

[jesusface]

People don%u2019t buy it anymore

Why don%u2019t you politicians in Washington concentrate in giving your citizens better education, health care and their dream jobs. This is the real wealth of a healthy country.

This bailout is but a stopgap mentality to make people think they feel better about a broken and mismanaged economy.

Well guess what,
People aren%u2019t buying it anymore!

[keeblers69]

The whole banking system is burning like the Hindenburg anyone have some marshmallows?

[t_barr]

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

From an interview with Rep Sherman D-Cal on CNBC
''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.''

''Notice that conspicuously missing from the definition is the requirement that the asset''s underlying thing (The property that was mortgaged, etc) lies within the US. Also note that Treasury must tell Congress if they add ''new types'' of debt, but that Congress has no right of review or censure.

It is perfectly legitimate under the bill for a foreign bank to sell or swap any c r a p sandwich it may hold (irrespective of how or where it originated, so long as a mortgage is the basis for it somewhere) with a bank domiciled in the US, and said bank may then ''PUT'' it into the TARP.

Note also that Rep Sherman said on Kudlow last night that when this was raised with Sec Paulson he was told that if Congress tried to restrict the ability of the Sec to purchase assets laundered in this fashion from foreigners, that the bill would be vetoed.''

This is pure Bulls h i t. Carefully crafted BS, sold to We the People by Bush, Paulson, etc. repeatedly saying that this bill is about a ''rescue'' of Main Street, not Wall Street. It is neither about Main Street or even about Wall Street. It''s designed to bail out foreign investors.

Watch the Video at the link, it explains it much better.

[neilh1014]

The value of the U.S. dollar is nothing right now whatever happened to the gold standard. Currancy that once had no chance of being equal to our own is now allmost equal to ours.

[pensacola98]

The world markets reacted to the bail-out with two positions:

1. If the USA won''t allow higher risk loans, then go to another sandbox to bully around and find some financial victims.

2. If the USA imposes more oversight and restrictions, then go take some honest investments to the USA where returns are safer and predictable.

Money will come to the market when it is clear what kind of investors the rules were made for.

[random_radar]

$700 billion is just the first payment. Trillions more will follow. America is bankrupt.

Where will the Trillions come from? Isn''t the bailout because of a credit crisis? There is no money.

The government will just print trillions of dollars out of thin air--like they tried in Zimbabwe and other countries. Just look at Zimbabwe and see the future for America. Hyperinflation.

[t_barr]

Congress is being THREATENED to pass this BS Bailout Bill or face a 3-4,000 pt Market crash and Martial Law in America! Anyone ever heard of the Plunge Protection Team (PPT)?
Working Group on Financial Markets
http://en.wikipedia.org/wiki/Working_Group_on_Financial_Markets

Well, it CAN be used in the opposite mode to CAUSE a Crash. And Martial Law? ***! This is Total BULL! Also, Sherman Explains How this Bill has been designed to Bailout Foreign Investors!

Watch Rep Sherman D-Cal explaining this BS ON THE HOUSE FLOOR!;
www.c-spanarchives.org/flash/player-time.html?start=2008-10-02%252020:06:57&stop=2008-10-02%252020:21:57&net=1

I''m from the Government... I''m here to help....

Mail This To EVERYONE!

[trillion1]

''Bailout hope...''? There is no hope. Just throwing away good money after bad. If they put this money toward repairing our infrastructure they would create tens of thousands of jobs for the people that want work not the rich on Wall St.

[gwjackie]

TURN THESE PEOPLE OVER TO THE PEOPLE THEY SHI! THE MONEY OUT OF AND FORGET IT. LET THEM DEAL WITH THESE PEOPLE

[homespunlady]

So, anyone going to watch the FINAL 700 BILLION to 5 TRILLION GIFT AWARD from our very own "Peter and the Wolf" King George to HIS CRONIES before they all sail off into the NON-EXTRADITABLE countries with our GRANDKIDS future standard of living in their BACK POCKETS?

Better get crackin'' for the REST of the PRIVATEERING Cronies that stayed to MOP UP the LAST FEW CRUMBS from the American People - "vacation property" in Paraguay and Bahrain is GOING FAST!!

And for Halloween THIS YEAR the PIRATES of WALL STREET are dressing up as HELPLESS "WENCHES" so you too can "contribute" to their "rescue"!!!

[t_barr]

Congress is being THREATENED to pass this BS Bailout Bill or face a 3-4,000 pt Market crash and Martial Law in America! Anyone ever heard of the Plunge Protection Team (PPT)?
Working Group on Financial Markets
http://en.wikipedia.org/wiki/Working_Group_on_Financial_Markets

Well, the PPT CAN be used in the opposite mode to CAUSE a Crash. And Martial Law? ***! This is Total BULL! Also, Sherman Explains How this Bill has been designed to Bailout Foreign Investors!

Watch Rep Sherman D-Cal explaining this BS ON THE HOUSE FLOOR!;

www.c-spanarchives.org/flash/player-time.html?start=2008-10-02%252020:06:57&stop=2008-10-02%252020:21:57&net=1

I''m from the Government... I''m here to help....RIGHT!

Listen to Alex Jones interview Rep Sherman about Martial Law;
http://www.prisonplanet.com/#

Mail This To EVERYONE!

[macusweil]

"U.S. Payrolls Plunge in Sign Economy May Enter Worst Recession Since 1982 -Bloomberg News"

Yeah like father, like son. When will this country learn. Reagan/Bush trickle down voodoo economic theory is bad for the nation and only helps the ultra rich.

[ajaxtheleast]

Why dont the dems who are supposed to be for
the tax payers sabotage the bailout?

And if not for that reason why not delay
it''s passage for the certainty of their
nominee becoming president?

The Republicans are champing at the bit
to unleash what they planned against
Obama once the air is clear and voters
can consentrate on it?

The screaming and threatening us to
pass something that they admit wont be an
instant cure was supicious from the start.

If it isn''t going to immediately show
improvement what will a couple weeks
delay mean?

What instant passage means is McCain
gaining a few more points.

Bush exibited all the body language of
before the invasion of Iraq,,,,
very same dire look on his face.

And now that means a few billion dollars
a month for us.

[gopack443]

W wrong again? Who would have thought!

[glenda743]

Both houses of congress has been haggling for over a week trying to agree on the Rescue Bill that President Bush wants passed.........
SO FOR ALL THE DIMWITS OUT THERE WHO BELIEVE THAT BARACK HUSSEIN OBAMA CAN DO ''ANY'' OF THE THINGS HE HAS BEEN PROMISING THE POOR IGNORANT PEOPLE, JUST HAVE A LOOK AT THE WEEK . NOT ONE PERSON ...''NOT ONE'' .....CAN DO ''ANYTHING'' BY THEMSELVES.....WE HAVE A DEMOCRACY AND EVERYTHING THE PRESIDENT WANTS TO DO HAS TO BE APPROVED BY CONGRESS.
No matter what Barack tells you....he CANNOT do anything... I''ll admit that Congress is controlled by a majority of Democrats......but this should also tell you that if the majority approved.......then it could not possibly be the fault of the Republicans.....Wake up America....

[glenda743]

Both houses of congress has been haggling for over a week trying to agree on the Rescue Bill that President Bush wants passed.........
SO FOR ALL THE DIMWITS OUT THERE WHO BELIEVE THAT BARACK HUSSEIN OBAMA CAN DO ''ANY'' OF THE THINGS HE HAS BEEN PROMISING THE POOR IGNORANT PEOPLE, JUST HAVE A LOOK AT THE WEEK . NOT ONE PERSON ...''NOT ONE'' .....CAN DO ''ANYTHING'' BY THEMSELVES.....WE HAVE A DEMOCRACY AND EVERYTHING THE PRESIDENT WANTS TO DO HAS TO BE APPROVED BY CONGRESS.
No matter what Barack tells you....he CANNOT do anything... I''ll admit that Congress is controlled by a majority of Democrats......but this should also tell you that if the majority approved.......then it could not possibly be the fault of the Republicans.....Wake up America....

[glenda743]

Someone needs to ask Barack Hussein Obama to name "JUST ONE"
just one corporation or company or small business who gets higher bills...whether it is a tax bill or a utility bill or a gas bill or any kind of bill....that ever takes the higher bills from their bottom line....Wake up America.....they pass ALL HIGHER COSTS OF DOING BUSINESS ON TO THE CONSUMER... so no matter what you call it...it is still higher prices for the middle America...I just can not believe how dumb the Democrats are....Duh......Just like Fred Thompson said at convention...."if you don''''t plan on buying anything, it won''''t affect you.....This really doesn''''t take a rocket scientist to figure this one out......Wake up America.... Someone in McCain''''s camp needs to stop every lie that comes out of Obama''''s mouth..... Now he''''s scaring those poor old people in Florida to death about their Social Security....Even IF ONE PERSON COULD PRIVATIZE Social Security...which one person CANNOT, if would not affect any person born before 1950.... Someone needs to rebutt all of his lies and tell these old people the truth.......This is really a lousy way to try to get votes...by scaring old people...... Wake up America

[glenda743]

The Democrats should be very careful when they start shouting %u201CBad Economy%u201D and how we need to %u201CChange%u201D%u2026%u2026..

Instead they should look back to just two years ago to see what a roaring economy we had been enjoying the previous six years with gasoline at $2.19 a gallon and unemployment at 4.6%. That%u2019s when the voters then started talking about %u201CChange%u201D and they elected a majority of Democrats in both houses of Congress%u2026. In just these past two short years with the Democrats, gasoline has gone to $4.00 a gallon and unemployment is up to 6.1%.....

The liberal leadership in Congress should not be allowed to continue the devastation of our economic well being%u2026%u2026. Change???? We%u2019ve had about enough Democratic change this country can handle%u2026..

Some people might really believe that one person can do something...whether it be good or bad.... but I''m here to tell you that NOTHING gets passed without approval of Congress and Congress is now controlled by Democrats...Wake up America....this should tell you something...DUH....

[credibility2]

The Dems are bigger losers and cowards than the Repubs. They sat on their overpaid, underworked behinds and did absolutely nothing to curtail the gluttonous frenzy by their pals at Fannie and Freddie, which caused the house of cards to fall. They did nothing and have the gal to blame the Repubs for this catastrophe without taking any blame or culpability for any of it. Arrogant dirt bags.

[hypnotoad72]

...they should look back to just two years ago to see what a economy we had the previous 6 years with gas at $2.19/gl and unemployment at 4.6%. That%u2019s when the voters then started talking about %u201CChange%u201D and they elected a majority of Democrats in both houses of Congress%u2026. In just these past two short years with Democrats...

Posted by glenda743
---

I remember when people were whining because, under Clinton, gas went to $1.20/gl...

And during ALL of those 6 years before that, jobs were being offshored and people going out of work (the 6.1% is the number of people on UI - go to a job placement center and learn) -- you cannot replace decent (or even high) paying jobs with minimum wage equivalents and think the economy isn''t going to notice.

It started before the Dems'' ~3 seat victory in 2006... I think voters were talking of change before 2006, because that''s why enough people decided Republican-controlled everything was going on too long. It was happening before November 2006.

Whatever. I go by individual politician - and the reality is, apart from giving tax breaks to companies that offshore, there''s little that politicians can do that affect the economy. When the government cannot regulate, the companies ought to be able to.

The truth is in the middle.

BTW: Ms Palin did an excellent overall job in the debate last night. (apart from one point, but nobody''s perfect...)

[hypnotoad72]

The Dems are bigger losers and cowards than the Repubs. They sat on their overpaid, underworked behinds and did absolutely nothing to curtail the gluttonous frenzy by their pals at Fannie and Freddie, which caused the house of cards to fall. They did nothing and have the gal to blame the Repubs for this catastrophe without taking any blame or culpability for any of it. Arrogant dirt bags.

Posted by Credibility2
----

Isn''t it funny how both sides unilaterally lambaste the other?

I wish that McCain and Palin would say more about fixing the economy (having his people go from saying we''re not going to pick lettuce for even $50/hr to a bunch of whiners, to being the core of the economy because we are an innovative and strong bunch of people), but even with that I recall Biden supporting that bogus bankruptcy "reform" bill. I sure as heck trust Ms Palin than I do Mr Biden.

[swwils]

I can''t believe that our country is broke.We are no longer American''s we are Asian,European''s,and Norwiegan''s,etc.Just like we built this country on open arms all welcome from anywhere,and everywhere.Except this time it is all these different Nation''s own us.We are not the people,for the people by the people anymore.We are not a soverign nation.We are a worldwide corporation.I bet John Hancock,Benjamin Franklin.Adam''s,Harrison,and all the rest are doing flip''s in their grave''s.Our constitution isn''t worth the paper it was written on.I am really embarrassed in our politicans.

[xmanborg]

Now our Emperious Leader George W Bush has the $$$$$ to finish the DEATH STAR !

[swwils]

We need a whole new breed of Congressman,and Senators,we are falling apart just like Rome fail.Greed,and thievry has destroyed our nation.Hitler was right,I believe he told his faithful few(we would destroy ourselves from within)I am 47 yrs old and have seen this country go from the most powerful feared nation in the world to a corporation that can''t count it''s piggy bank properly.When I was in the Military,I wore that uniform proud 78-87 Green Beret''s(DE OPPRESSO LIBER)now I feel oppressed,and drained financially.They need too get this nation back on track so our kid''s can grow up like we did!Free,Proud,and Brave!!!GOD Bless us all.

[scotch41-2009]

Hmmmmm....What do the world markets know that we are too stupid to understand????? Maybe that the bailout plan is so asinined that they aren''t buying it....We need wooden arrows, alright, but not for children...We need them to put through the wooden heads of washington....

[scotch41-2009]

The whole world watched as our "esteemed" political parties duked it out like fifth-graders in a food fight....It was a shameful embarrassment. And now the bill passed with some of the most outrageous pork barrel earmarks ever to hit the house....J.e.s.u.s. C.h.r.i.s.t on a crutch!!! When is this gargage going to stop?

[luvcomments]

So the bail out didn''t seem to do anything for the stock market today. Hmmmmmmmm Suppose it was to benefit only the bankers? Nobody called their bluff and told them - if you don''t want to lend money, then you should immediately get out of the banking field and go bust. Then you''d have seen them figure out something, some way to keep the cash flowing. They couldn''t hold off lending money for very darned long because that would have meant no income or interest for themselves and they''d have all lost everything in their own wallets. They held the entire country hostage thanks to our super-intelligent legislators and got away with it.

[inventagod2]

Invest in ammo....

[papabc]

They think we are becoming a socialist nation. They are right.

OH! Didn''t think this would help Wall Street that fast.

[papabc]

Now our Emperious Leader George W Bush has the $$$$$ to finish the DEATH STAR !


==============

You can think Congress for writting and approving a bill that screws most Americans.

[guysdigdirt]

Who caused this mess in the first place?

Go to NY Times at

http://query.nytimes.com/search/site
search

search for;
Fannie Mae Eases Credit To Aid Mortgage Lending

Pick the first article and read the 3rd paragraph.

His actions still haunt us.

[guysdigdirt]

Who caused this mess in the first place?

Go to NY Times at

http://query.nytimes.com/search/site
search

search for;
Fannie Mae Eases Credit To Aid Mortgage Lending

Pick the first article and read the 3rd paragraph. It was written September 30, 1999, yes 1999.

His actions still haunt us.

[layton1950]

I happened to browse the web when I came across a
distubing piece of information from the OBM and
the congressional office of the Budget.
It states that the "HUD Budget contains major funding
shortfalls. Congres needs to add $6.5 Billion to Adminstration''s request to avoid cuts in assistance to low income families." The Article was written
by Douglass Rice, Barbara Sard, and Will Fischer.
I called Washington D.C. at (202).408.1080 and spoke with a Chris Coc and asked her to verify the authenticity of the article, in which she replied that this group stands 100% behind the statisitcs
given out by the "Center on Budget and Policy Priorities" in Washington D.C.
Basically (a) shortfall in President''s budget compared
to 2008 nominal level is -$885.00 million dollars.
(b). Total additional funding needed for the three
Programs (Section 8 choice Vochers, for the Public Housing Fund and to renew section 8 rental assistance contracts is is -$5,188 Billion Dollars, finally [providing for inflation for other HUD programs -$386.00 million which gives a total shortfall of -($6,459.00) Billion. for the Presidents Budget for 2009.

why isn''t this being addressed in the debates. FYI
call the number 202.408.1080 for further information.
Millions of Americans dependent on these programs will
be affected./ or perhaps Congress will bail out the poor also inaddition to the rich.

[tibu987]

Why don''t I feel good about this?

Is it perhaps because this money will pay the foxes for raiding the chicken coop.

That this bailout will reward the very people who caused the problem.

Keep all this in mind when you vote for your elected
officials. Congress and the Senate are as guilty as those on Wall Street.

Vote them out of office.

Go to govtrack.us to see how your Senator or Congressman voted.

[oscarez]

This bailout pig, even if you put lipstick on it, will still be a pig and the world markets know it.

[ibzjem]

http://www.factcheck.org/elections-2008/who_caused_the_economic_crisis.html

Here''s a summary of the cause.

[oly_joe]

It goes to show that the economic crisis goes beyond the mortgage meltdown .. factories and businesses aren''t doing well due to peoples reluctance to buy and unemployment is rising because companies aren''t making enough money to cover their payrolls

[babooph]

The economy should not move more rapidly than the worlds resources & skills-the only parameter that should cause radical change, may be OVERPOPULATION-this down may be mainly motional ,due to a lack of confidence in those that cannot lead,but are in the chair?

[truthislife1]

I''m sure many of you lost more, but I only had 20G saved up for retirement and 25% of that dissapeared in a heartbeat. Many of you lost hundreds of thousands. I''m sorry.

[bluepointer]

Congressman Barney Frank and Senator Chris Dodd should both be investigated and forced to resign their seats in Congress. The root cause of the current financial crisis can be traced to Fannie Mae and Freddie Mac. Both Frank and Dodd consistently blocked legislation to rein in questionable loan practices by Fannie Mae and Freddie Mac and now the whole financial system of America has been poisoned. Barney Frank in particular pushed for looser regulation of these two institutions. And now House Speaker Nancy Pelosi wants to put Barney Frank in charge of leading an investigation into the housing meltdown. It''s like putting the fox in charge of inspecting the interrior design of the hen house. Let''s also not forget that Barney Franks longtime partner (lover) was a top Fannie Mae executive. Talk about a sweetheart deal. Wall Street does deserve a lot of the blame. But corrupt politicians like Frank and Dodd made this whole sorry mess possible. Thanks guys!

[lochlan-2009]

The passage of this Bill clearly violates the Law.

Posted by didormanii

These people are cashing out on America. They are stealing every last cent they can, so they can transfer it offshore to be protected from the economic collapse we all will be living through by next summer. "This sucker is going down" and Americans are mute as the propaganda machine media blares support suicide, and hushes critics and protests everywhere. Does anyone know what the word "representative" means? Obviously our "representatives" don''t have any issue in telling their consituency, we can go to hell and probably will, now.

What do these people have to do to get Americans to defend themselves from their assault and robbery, start killing us, round us up and put us in camps? What?

They''re grabbing the money and running, suckers. It''s a New World Order.

[north1949]

Syncityq, you remark that putting the burden of the world markets onto the backs of the US taxpayer is unfair. However, it is equally unfair that it was the lack of regulation in the US financial system and the agressive marketing of ABCP''s and other financial products to the rest of the world that created the problem, especially as these financial products were supposedly highly rated and insured. Whenever the US system requires capitalization, it looks to the world for that capital. European, Canadian, and Asian banks
responded, investing in American financial offerings.
Of course, there was the assumption that these products were as sound as promised. It is the unmitigated greed and dishonesty of these American mortgate companies and fund managers that has led to the threat of a world-wide recession. The governments of Europe and Canada are likewise being asked to pump billions of dollars from their respective central bank into lending institutions in order to free up credit. You also mention that the US should never be drawn back into the global economy, as that is the reason for your problems. False. History has shown that protectionism slows economic growth rather than generating it. You need foreign markets to purchase your goods and reduce your trade deficit. Educating yourselves is the first step!!

[lmartink]

$700 billion. Was it for nothing?

[zietzke-2009]

WAKE UP !

THIS BAIL OUT SCAM WAS ONLY DESIGNED TO BENEFIT THE "HAVE MORES"...(BUSH''S BASE)....He even said this !

The foreign markets are not going to fall for this bail out scam. Our Government just screwed the American people again and this time our children will be paying for this rip off for decades !

Over 80 % of the American people opposed this scam...
The government did it anyway....WE THE PEOPLE ?
What a JOKE !! GOD BLESS AMERIKA !!

LET THEM EAT CAKE