Why are you or do you think people are against the Bail out? (transaction, free market)

[chuck22b]

From what I can tell, most people who are against the bail out are against it because:

1) Immoral - Greedy fat cat pigs deserve it
2) Believe in the Free Market
3) Don't think it'll do anything
4) Hate the Government or the current Administration
5) I'm suffering, so everybody should suffer
6) Don't want my grandkids paying for it

Are these the reasons? Or are there others?

-chuck22b

[colleeng47]

My reasons are I don't trust what the government -- and all the politicans are saying; a lot of economists, not politicans, are against it, and I figure they know more than me (and congress); I don't want my kids/grandkids/great-grandkids to pay for this; I think it's time government got out of our lives, and stopped bailing businesses out.

I'm also not convinced that armageddon is around the corner if we don't pass this bill. We've been lied to too many times.


(where ARE those WMD?????? I know I put them someplace!)

[Lulu101]

because I'm not convinced they know what they're doing. They already admitted that they pulled the 700 billion number out of the air.

[Kootr]

However the bailout will eventually be handled, it is probably three times larger ($2+ Trillion) than the $700B figure that we hear about. That said, I want the banks, mortgage security holders, hedge funds, etc. that created this mess (Wall Street) along with the stupid people that bought more house than they could afford (oftentimes borrowing 100% of the home value), who oftentimes had terrible credit, to pay for their stupidity - not the taxpayers as a whole. This problem will cost taxpayers for generations to come...

And yes, there are many other participants that deserve to be castrated; to name a few - real estate agents/brokers, home appraisers, etc. that inflated home prices. And let's not forget our own government that promoted lending to unqualified people so they could "move-up" in living standards. The latter participant (our government) played a major role in allowing this crap to happen, which as taxpayers the bailout is actually going to be used to correct what those stupid government people started.

There is no good answer, or good way, to correct this mess. It is larger than large...and MUCH LARGER than anyone has said it was. The $700 billion figure is just a tiny fraction of what it will cost. Sadly, the longer we wait to do something (anything - right or wrong) the more it will cost. Right now, with the current bailout policy valued at $700-$800 billion the true amount needed is three times that amount. Wait a few months to act and the [true] cost will be many trillions. Wait a year to act and the true cost will be tens of millions. They must do something now, even if the current plan is a terrible plan, unfair to taxpayers and does not go after the right people. Doing nothing is not an option. Is there a better way to setup the bailout plan? I think so, and maybe when they have more time they will change it...or the next bailout plan. We can definitely count on there being another bailout on the heels of this one, because $700B ain't near enough...and you can bet your a$$ our government already knows it. They just ain't talkin' 'bout it!

[Clay Lady]

I am against this, whatever they end up calling it, is because we do not have the money. We are adding to our future debt load. Borrowing is what has got us into this crisis. We are going to take a hit one way or the other. I no longer trust any of the people in congress have my average girl financial future on their minds. It's all about the big money players and the wanna be's being fooled.

[floridasandy]

the bailout means that the government will be forcing us to pay overinflated prices for real estate transactions which should not have occurred in the first place. i don't like the pork in the bill. i don't like their escalating spending. i don't like that the treasury security was the CEO of a wall street firm and i don't like that warren buffet just bought that firm. i don't like that our representatives won't listen to what we want. i don't like going further into debt. i don't like the way that this has been done behind our backs starting well over a month ago. i don't like the fact that they will not cut their own spending and have recently passed at least 2 other huge spending bills. i don't believe that the economy will tank long-term at all. i just got a 13,000 unsolicited credit card offer in the mail today so i don't believe what they are saying about the economy. i did not see the economy tank after the bailout and, in fact, the stock market went up. i don't believe we have enough money to pay for it. i don't believe that there isn't some fraud involved and i wonder why there haven't been some prosecutions and indictments with this kind of loss. i don't believe that the same people who have benefited by receiving huge contributions from these companies should be able to determine how this is handled. finally i don't like both sides using this to try and get some political edge with the voters because it shows that they think we are stupid.

[Lulu101]

Also, if it's so urgent, why did congress waste two days off for a religious holiday? Why did they add tons of pork to the bill?
They're not acting like it's a crisis. Maybe it's not.

Originally Posted by floridasandy

the bailout means that the government will be forcing us to pay overinflated prices for real estate transactions which should not have occurred in the first place. i don't like the pork in the bill. i don't like their escalating spending. i don't like that the treasury security was the CEO of a wall street firm and i don't like that warren buffet just bought that firm. i don't like that our representatives won't listen to what we want. i don't like going further into debt. i don't like the way that this has been done behind our backs starting well over a month ago. i don't like the fact that they will not cut their own spending and have recently passed at least 2 other huge spending bills. i don't believe that the economy will tank long-term at all. i just got a 13,000 unsolicited credit card offer in the mail today so i don't believe what they are saying about the economy. i did not see the economy tank after the bailout and, in fact, the stock market went up. i don't believe we have enough money to pay for it. i don't believe that there isn't some fraud involved and i wonder why there haven't been some prosecutions and indictments with this kind of loss. i don't believe that the same people who have benefited by receiving huge contributions from these companies should be able to determine how this is handled. finally i don't like both sides using this to try and get some political edge with the voters because it shows that they think we are stupid.

[goodbyehollywood]

Oh, I think we have a crisis. And I think we're still going to have one after the bailout passes. And pass it will, because those who opposed it on principle are being forced to throw in the towel.

I think it's sausage. It's got lots of undesirable stuff in it, the more we know about it the less we like it and it won't be good for us. Not one bit.

We are in an economic downcycle and once the euphoria and backslapping have worn off, the economy will continue to decelerate and people will continue to experience a hangover commensurate with the mother of all parties. The only difference is we'll owe $700+B more than we did before. And just when we're really feeling the pain, our taxes will go up.

[Lulu101]

And we still have 2 wars that we can't seem to get wrapped up.

Originally Posted by goodbyehollywood

Oh, I think we have a crisis. And I think we're still going to have one after the bailout passes. And pass it will, because those who opposed it on principle are being forced to throw in the towel.

I think it's sausage. It's got lots of undesirable stuff in it, the more we know about it the less we like it and it won't be good for us. Not one bit.

We are in an economic downcycle and once the euphoria and backslapping have worn off, the economy will continue to decelerate and people will continue to experience a hangover commensurate with the mother of all parties. The only difference is we'll owe $700+B more than we did before. And just when we're really feeling the pain, our taxes will go up.

[himain]

I am 50/50 on this. On one hand I say let all these companies fall for being so greedy and blind. On the other hand, I say lets get out of this mess and just move on.