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I thought the congress approval rating was actually around 9%. I think the reason it's so low, is the Dem's have shown no backbone whatsoever to Bush, and have agreed to go along w/ him most of the time. They promised they would end the war in Iraq, they haven't. They haven't accomplished one thing yet b/c they have no backbone.
I don't recall their approval getting that low but it could have. That they have no backbone could certainly be a reason that Dems don't approve of them. The same thing happened to the Republicans when they were a majority. It seems that being in a majority causes a politician to become an invertebrate although politicians are simply members of a modern American culture affected by the same symptoms.
People do not understand that Wall Street is Main Street. If the big banks fail and the stock market crash and credit becomes unavailable, then we are all in hot water and going straight into an economic recession with no WW2 to bail us out.
My question is WHY is it 700 billion dollars?
Why can't they just give them SOME money now and then see how it goes and if they need more, they'll get more?
We don't even know if this plan will work.
Why not hang some of these CEOs by their golden parachutes...or better yet take them out to a firing squad and collect the insurance money.
Bloomberg is lying. The disapproval calls being received by congress is over 90%. The problem is they have already sold their souls to the wealthy bastards that will profit from this bail out at the expense of the taxpayers. They will sugar coat it, and the public who cannot pay attention to anything for more than a few days will loose interest, and they will blow it through, crippling the economy and causing taxes and inflation to skyrocket. This will be the Savings and Loan fiasco on steroids.
My question is WHY is it 700 billion dollars?
Why can't they just give them SOME money now and then see how it goes and if they need more, they'll get more?
We don't even know if this plan will work.
Why not hang some of these CEOs by their golden parachutes...or better yet take them out to a firing squad and collect the insurance money.
Nobody can say. The 700 billion is supposed to buy paper, whatever that means. What I want to know is, who has title to the foreclosed properties that are on the market now, and if the 700 billion being spent means the government will own them (and all properties that go into foreclosure in the future)? If the government is buying the properties, then I think they should say so. But then they would be buying the obligation to pay the mortgage, I would think. Then again, buying the property for cash would mean there is no mortgage. Ok. In that case, I would suggest that this becomes simply a supply and demand problem. Builders overbuilt in response to demand. The solution would be (besides renting the properties) to reduce the supply by bulldozer. Simply demolish every house that went into foreclosure in the past year that isn't currently being lived in. That might encourage some people to buy. But it would certainly reduce supply. Prices would stabilize. For every house that disappears, demand would increase.
That wouldn't guarantee the banks will lend again. I don't think the plan, as it is, guarantees what the banks will do. Afterall, they have been burned once. Still, they are in the business of lending.
You might fault them for going into a state of being completely out of touch with reality. But they are only a reflection of the population. Everyone is being trained in greed.
Probably common sense solutions won't work. That's because everyone is so self interested.
Maybe you should forget about the 'bail out'. Home prices will fall but maybe they should. But people still have to have a place to live so not everyone will walk away from their home. I don't know what effect it will have on business and unemployment. But maybe the government will then use the 700 billion it saved on work programs. You won't feel as rich. You might not spend as freely. You might start saving.
Maybe it's worth seeing the market crash. That will bring down all those rich people you hate so much. How far should it fall? About to 4000; that's where it was in '87 when the market began it's climb. Businesses will fail. People will have less in their retirement savings and they will have to go back to work. But there won't be any jobs. You should think about these things.
Nobody can say. The 700 billion is supposed to buy paper, whatever that means. What I want to know is, who has title to the foreclosed properties that are on the market now, and if the 700 billion being spent means the government will own them (and all properties that go into foreclosure in the future)? If the government is buying the properties, then I think they should say so. But then they would be buying the obligation to pay the mortgage, I would think. Then again, buying the property for cash would mean there is no mortgage. Ok. In that case, I would suggest that this becomes simply a supply and demand problem. Builders overbuilt in response to demand. The solution would be (besides renting the properties) to reduce the supply by bulldozer. Simply demolish every house that went into foreclosure in the past year that isn't currently being lived in. That might encourage some people to buy. But it would certainly reduce supply. Prices would stabilize. For every house that disappears, demand would increase.
That wouldn't guarantee the banks will lend again. I don't think the plan, as it is, guarantees what the banks will do. Afterall, they have been burned once. Still, they are in the business of lending.
You might fault them for going into a state of being completely out of touch with reality. But they are only a reflection of the population. Everyone is being trained in greed.
Probably common sense solutions won't work. That's because everyone is so self interested.
Maybe you should forget about the 'bail out'. Home prices will fall but maybe they should. But people still have to have a place to live so not everyone will walk away from their home. I don't know what effect it will have on business and unemployment. But maybe the government will then use the 700 billion it saved on work programs. You won't feel as rich. You might not spend as freely. You might start saving.
Maybe it's worth seeing the market crash. That will bring down all those rich people you hate so much. How far should it fall? About to 4000; that's where it was in '87 when the market began it's climb. Businesses will fail. People will have less in their retirement savings and they will have to go back to work. But there won't be any jobs. You should think about these things.
I'm all for home prices falling, to a point. lol.
I think in some cities they need to fall so the average hard-working person can afford to buy a home if they want.
Oh I've thought about those things.
I just hate this whole mess. I hate it was allowed to happen and I hate we the tax payers just might have to clean up the mess.
These Senators and Congressmen/congresswomen do not deserve to be called leaders at all.
I curse the day many of them were elected.
As for the savings, I'm pretty frugal with my money. I don't see anything wrong with leaving within your means. If only many Americans could agree and follow this doctrine but oh well...'tis their money and not mine.
I think every American should vote whether or not they want their tax dollars going towards this. If you want it to happen, you can fork out that amount and give it to Wall Street.
Some might say we vote through our representatives but our representatives don't care about us. They make plenty of money and could care less about the average American.
I have to agree with you. My initial reaction to the "bailout" was disgust and anger, but we have to get the emotions out of the way. This is not (right now) about who was right and wrong, who made stupid investments and who made smart investments, it's about our economy and our security. There will be plenty of time to sort out the details in who and what is to blame, but coming up with a solution to fix the problem now should be our focus regardless of political affiliation. I am worried about my job, my 401k, my economic security and our global status, we really must try to take the emotions out of this right now.
Yes. We have to do what is best for the country as a whole, for our kids, for the future.
That may be to just bite the bullet now and be good capitalistic Americans and just allow the 'market to adjust'.
After all, why reward bad decisions and bad behavior by throwing money at it?
My question is WHY is it 700 billion dollars?
Why can't they just give them SOME money now and then see how it goes and if they need more, they'll get more?
We don't even know if this plan will work.
Why not hang some of these CEOs by their golden parachutes...or better yet take them out to a firing squad and collect the insurance money.
You know that there are some countries in which such a thing might happen. The less a government actually represents its people and the worse people do economically, the more likely such things will happen.
We are approaching a bad phase in American history, I fear.
I only hope Congress will wake up and start representing the people and small and startup business, and not the mega international corporations.
of course bloomberg the idiot of wall street wants a bailout,he and his liberal wall street buddies have bankrupted the nation and themselves.Let alone what bloomberg has done to new yorks businesses with his smoking ban,that nobodys enforcing in the clubs and restaraunts anymore.......he taxed smokes out of existence along with the state..they have the biggest bootlegging problem in north america next to california and canada........you thought 1920-30s prohibition wa sbad you should see the semi loads of bootleg tobacco they catch.........and they only get maybe 5% of it.................hahahahaha bloomie you idiot.
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