F%@#$ bailouts

[Drake]

The single most insightful comment about the bailouts actually came from a conservative...

"The last time I was given a deal and told I had to "act now", I was on a used car lot."

Exactly and how many suckers are out there that snap those offers up. I have a feeling that some polititions are afraid if they do not go for the bailout then they are not getting elected again because the public is so un informed about the issues they are going to blame there congress critter for not "doing what needed to be done"

 

[cjvictoria]

i wonder if this is gonna affect me, being in the military does have its perks but that sounds like alot of those perks are gonna go out the window as soon as congress realizes how stupid that action really was

and plus to top it all off... i guess im not gonna see my fed tax return any time soon, bastards say "they lost it in transit" mother fucks, so my 300 bucks just went toward keeping these dumbass wallstreeters out of the poorhouse...

 

[EGProject]

Well, when the bottom drops out I'll still be at my house with a case of beer, a couple thousand rounds of ammo and a bunch of guns. E is invited.


+1 on the whole Roman empire thing. I've heard a lot of comparisons on daytime talk radio about the fall of Rome and our current situation. I'd like to think the military or the American public would act before anything drastic happened - but a threat to our core economy is certainly a threat to national security.

Would you fight in an army that doesn't pay you?

Fuck the war on terror, I want a war on corporate scumbags.

 

[TurboMirage]

im coming to your place Chris make room next to the SE-Rs

 

[Celerity]

I hope you're all watching Bush now. Brilliance.

Everything he is saying is exactly what my research has lead to. He's right. The "bail-out" (Which it's NOT) is necessary for the mistake made by a private company that would have opened the economy up for a HUGE Chinese buy-out.

 

[cjvictoria]

yes that would be pretty fuckin bad... hell i believe they have enough stake in our country as it is, and that my friends is a travesty

 

[Sabz5150]

I hope you're all watching Bush now. Brilliance.

Everything he is saying is exactly what my research has lead to. He's right. The "bail-out" (Which it's NOT) is necessary for the mistake made by a private company that would have opened the economy up for a HUGE Chinese buy-out.

Bullshit, don't give me that fucking "it's not a bailout!" line. It's corporate welfare... *I* had nothing to do with this mess, nobody I know had anything to do with it, why am I expected to cough up for it? Isn't that the general attitude towards "normal" welfare and unemployment compensation?

You can say a LOT of things about this... "It's not a bailout!" isn't one of them.

 

[reckedracing]

Lawmakers: Financial bailout agreement reached

WASHINGTON - Warned that time was running short to bolster the distressed economy, congressional Republicans and Democrats reported agreement in principle Thursday on a $700 billion bailout of the financial industry, and said they would present it to the Bush administration in hopes of a vote within days.

don't these hacks go into politics because they can't suceed in business in the first place
i see the dollar losing so much value in the near future
700 billion, to buy up junk bonds
wonderful

The core of the plan envisions the government buying up sour assets of shaky financial firms in a bid to keep them from going under and to stave off a potentially severe recession.

And new home sales tumbled in August to the slowest pace in 17 years, while the average sales price fell by the largest amount on record. It served to further dramatize the problem that Washington is trying to solve.

could this be bush's one last fuck for the road?

every mortgage lender and writer that wrote sub-prime and/or"liar" (no income verification) loans should be shot to death with bb guns

 

[Korax]

^ The same thing is happening with the car buying industry as well. We have had record breaking months every month here this year. This month there has been no business. It ALL of the lending market, not just homes.

 

[DarkHand]

"Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency." Translation: the Secretary can buy up whatever junk debt he wants to, burden the American people with it, and be subject to no one in the process.

There goes your country.

Oh hell no. If you weren't convinced that this has all been a gigantic sham pulled on the American people, this ought to do it.

I've always said to let people try and put these types of things into bills... Under normal American Government, these types of clauses would immediately be ruled unconstitutional and voided. Under normal American government they're harmless.

It's just like the telecom immunity bill. People keep saying that once you pass immunity for someone, they can never be tried again in the future no matter what law is passed. But telecom immunity was passed after the fact; ex post facto. It runs smack up against Article I, Section 9 of the constitution:

No bill of attainder or ex post facto Law shall be passed.

It's blatantly unconstitutional, therefore the telecoms can still be prosecuted in the future.

Under normal American government.

 

[EF9_Hatch]

I got this in an email today, I think it would be a good Idea, but obviously this will never happen

Subject: AIG Bailout

This makes sense to me...read and see if you agree...

OK.....here's a plan I could live with.
I'm against the $85,000,000,000.00 bailout of AIG. Instead, I'm in favor of giving $85,000,000,000 to America in a We Deserve It Dividend. To make the math simple, let's assume there are 200,000,000 bona fide U.S. > Citizens 18+. Our population is about 301,000,000 +/- counting every man, woman and child.
> So 200,000,000 might be a fair stab at adults 18 and up..

> So divide 200 million adults 18+ into $85 billion that equals
$425,000.00.

> My plan is to give $425,000 to every person 18+ as a We Deserve It Dividend.

> Of course, it would NOT be tax free.

> So let's assume a tax rate of 30%.

> Every individual 18+ has to pay $127,500.00 in taxes.

> That sends $25,500,000,000 right back to Uncle Sam.

> But it means that every adult 18+ has $297,500.00 in their pocket.

> A husband and wife team has $595,000.00.

> What would you do with $297,500.00 to $595,000.00 in your family?

> Pay off your mortgage - housing crisis solved.

> Repay college loans - what a great boost to new grads

> Put away money for college - it'll be there

> Save in a bank - create money to loan to entrepreneurs.

> Buy a new car - create jobs

> Invest in the market - capital drives growth

> Pay for your parent's medical insurance - health care improves

> Enable Deadbeat Dads to come clean - or else

> Remember this is for every adult U S Citizen 18+ including the folks who lost their jobs at Lehman Brothers and every other company that is cutting back. And, of course, for those serving in our Armed Forces.


If we're going to re-distribute wealth let's really do it...instead of trickling out a puny $1000.00 ('vote buy') economic incentive that is being proposed by one of our candidates for President.
If we're going to do an $85 billion bailout, let's bail out every
adult U S Citizen 18+!

As for AIG - liquidate it.
Sell off its parts.

> Let American General go back to being American General.

> Sell off the real estate.

> Let the private sector bargain hunters cut it up and clean it up.

> Here's my rationale. We deserve it and AIG doesn't.

> Sure it's a crazy idea that can 'never work.

> But can you imagine the Coast-To-Coast Block Party!

> How do you spell Economic Boom?

> I trust my fellow adult Americans to know how to use the $85 Billion

> We Deserve It Dividend more than do the geniuses at AIG or in Washington DC. And remember, The Birk plan only really costs $59.5 Billion because $25.5 Billion is returned instantly in taxes to Uncle Sam.

Ahhh...I feel so much better getting that off my chest.

> Kindest personal regards,

> Birk

> T. J. Birkenmeier, A Creative Guy & Citizen of the Republic

 

[Briansol]

Bloomberg.com: Special Report

 

[khrisb]

Lol seems like it'd be safer just to print more money...

 

[Korax]

^ that is pretty much what they are doing. Making $700Billion or/we the full amount is out of thin air.

 

[Matts96HB]

I got this in an email today, I think it would be a good Idea, but obviously this will never happen

Subject: AIG Bailout

This makes sense to me...read and see if you agree...

OK.....here's a plan I could live with.
I'm against the $85,000,000,000.00 bailout of AIG. Instead, I'm in favor of giving $85,000,000,000 to America in a We Deserve It Dividend. To make the math ......

My Econ teacher brought this up today. Pretty funny.

Either way, I'm not convinced the "bailout" is going to do anything but make shit far worse than it is now.

 

[EF9_Hatch]

You know what's really funny about that... The guy screwed up on the math. It would end up only being $425 per person. Not 425k per person...I thinlk its funny lol

 

[Bkkfarang]

who would have ever thought , car nuts would have the idea how to fix America too bad they never listen to us .

 

[xj0hnx]

I got this in an email today, I think it would be a good Idea, but obviously this will never happen

Subject: AIG Bailout

This makes sense to me...read and see if you agree...

OK.....here's a plan I could live with.
I'm against the $85,000,000,000.00 bailout of AIG. Instead, I'm in favor of giving $85,000,000,000 to America in a We Deserve It Dividend. To make the math simple, let's assume there are 200,000,000 bona fide U.S. > Citizens 18+. Our population is about 301,000,000 +/- counting every man, woman and child.
> So 200,000,000 might be a fair stab at adults 18 and up..

> So divide 200 million adults 18+ into $85 billion that equals
$425,000.00.

> Kindest personal regards,

> Birk

> T. J. Birkenmeier, A Creative Guy & Citizen of the Republic

T.J. Birkenmierer, the last guy on earth that doesn't realize Windows has a calculator...

$85,000,000,000 / 200,000,000 = $425

$85,000,000,000 / 200,000 = $425,000

And even if the math were correct, why the fuck would anyone deserve $425,000 per person? Just beause? Where's that money supposed to come from? The guy that wrote that is a complete moron.

 

[DarkHand]

Even if he were correct, $425,000 in every adult's pocket would crush our economy in an instant through inflation. We'd be paying for bread with stacks of hundred dollar bills.

 

[dveit]