why aren't most democrats worried about the bailout? (Ron Paul, party affiliation, Pelosi)

[SGrey]

Originally Posted by anifani821

Amazing how this Do Nothing Congress has managed to pass enuff legislation to totally screw the whole financial system up!!!!

Yes, go back to Clinton to look at the seeds of this debacle . . . but then one has to factor in what Congress has done since . . . and the attitude that Bush has pushed - that "every American deserves a home." I thought that was kinda weird when he said it the first time - cause even tho I agree - all people deserve a home - not all people make the money or have the internal compass to be disciplined enuff to own (and maintain) a home. I kept hearing Bush say this and I was puzzled every time . . . b/c I saw these crazy lender programs (no money down, no doc loans, interest only loans, teaser rate loans, etc) and I thought - wow - people are getting into homes who will NEVER be able to make the payments. Plus, people who get something for nothing often do not VALUE it . . so it seemed to me that anyone who gets something for nothing will just WALK when times get tough.

Um, the entire system was already screwed so it's hard to say what they passed did anything but add to that. I've already pointed out the fallacy in the Clinton blame but I'll add to it that I think as more time passes history is going to show us more clearly that the problems can be traced back years before Clinton. It already does, most just don't know the how and whys yet. As for the got somoething for nothing people, I blame that solely on the banks. Of course people took them up on those absurd offers. People always want something for nothing if they can get it but in the case of big money housing loans what idiot then gives it to them?

[InformedConsent]

Originally Posted by SGrey

As for the got something for nothing people, I blame that solely on the banks. Of course people took them up on those absurd offers. People always want something for nothing if they can get it but in the case of big money housing loans what idiot then gives it to them?

Fannie and Freddie beginning in 1999
Fannie Mae Eases Credit To Aid Mortgage Lending - New York Times (http://query.nytimes.com/gst/fullpage.html?res=9C0DE7DB153EF933A0575AC0A96F9582 60&sec=&spon=&pagewanted=1 - broken link)

[S6Sputnik]

Originally Posted by floridasandy

are these democrats not worried about the bailout because they have been conditioned to believe that throwing government money at a problem solves the problem? we should all be angry that they are using our money to solve their problem, and i mean both republicans and democrats.

Worried Dem checking in

That said, there was not enough regulation and oversight in the first place, so now that we learned that bastards take advantage of a free market LETS KEEP AN EYE ON IT and lets not move back to the stone age because we are mad as hell!

[WestCobb]

Originally Posted by floridasandy

are these democrats not worried about the bailout because they have been conditioned to believe that throwing government money at a problem solves the problem? we should all be angry that they are using our money to solve their problem, and i mean both republicans and democrats.

You got me, florida. Guilty as charged. As a democrat, I think government money solves all problems. I also enjoy when the government tells me what to do with my money (I get so confused if I have to do this myself) so I just send my entire paycheck to Uncle Sam and subsist by government programs.

[emailvasally]

I am an independent, but I have several Dem friends. They are worried and mad as hell over this. I really dont think this has anything to do with the average Dem or Rep. It is all the jerks that we hired and dont do what we want. I agree with the poster who said we need to get all of them out of office. I also think it is absurd that the gov can spend this much money without doing a vote. We should have a say. If 51% of the American public agreed with this then I would go along. I have a feeling if a vote was done probably closer to 20% would agree.

This is not saying I dont think something should be done. But a huge bail out is not the answer. Those CEO's should not get a penny in severance and any politicians should give back every penny that was given to them!!!!!!!

[janeannwho]

Because the Democrats know they have to do the right thing for the whole country, not just a few fat cats on Wall Street and will be regulating the industries again in January. The end of robber barons is near and we can get back to a sensible system of checks and balances again. Do we want to pay for the greed and corruption of the rich, nope, but we are used to doing it, been a pattern for the last 8 years.

[Who?Me?!]

Originally Posted by floridasandy

are these democrats not worried about the bailout because they have been conditioned to believe that throwing government money at a problem solves the problem? we should all be angry that they are using our money to solve their problem, and i mean both republicans and democrats.

BOTH REPUBLICAN POLITICIANS AND Democrat politicians are

FOR THE BAILOUT! BOTH....do you know what that big word "both" means?

Now, please post proof, numbers, links, to PROVE ""MOST""" Democrats aren't worried about the bailout?

Or are you a famous psychic guy Who just KNOWS what MOST Democrats think.

OK, I am a Democrat...I hate the idea of this big Welfare check for rich people who caused these businesses to fail on purpose by cheating people so they could run off with huge wages and bonuses.
There, now you know how MOST Democrats feel.


I thought you REPUBLICANS believed in fiscal responsibility...guess not!

[eastcoastlady]

Where do you get the idea that Dems aren't worried??? I guess you asked all of us personally?
I'm very worried. I've called and emailed my senators. I do not think we should do this. I think failure is the natural outcome of the way the financial system has been run, and painful as it may be we should let the natural outcome occur. I absolutely don't want my tax money spent on bailing out banks who lied to consumers or consumers who didn't read the fine print before they took out these loans they couldn't afford.
That isn't fair to the people who do pay their mortgages on time at great personal sacrifice. It isn't fair to people like me who never bought a house because I didn't feel I could afford it yet. There needs to be personal responsibility.

[Noc]

Originally Posted by SGrey

And why did he allow it to happen again?

While we can certainly blame Bill what people seem to want to forget is that that repeal passed in both the House and the Senate first. Both were Republican controlled.

54-44 Senate
343-86 House

To steal from McCain: That, my friends, is veto proof. Had Clinton vetoed it it would have gone right back through and they would have vetoed him.

This should be in bold. +1

Originally Posted by SGrey

Um, the entire system was already screwed so it's hard to say what they passed did anything but add to that. I've already pointed out the fallacy in the Clinton blame but I'll add to it that I think as more time passes history is going to show us more clearly that the problems can be traced back years before Clinton. It already does, most just don't know the how and whys yet. As for the got somoething for nothing people, I blame that solely on the banks. Of course people took them up on those absurd offers. People always want something for nothing if they can get it but in the case of big money housing loans what idiot then gives it to them?

The problem here is that as more time passes the more the truth is lost. While bringing it to the forefront in the present day you get what we have now. Facts don't sound like facts ie. the Rep controlled congress during the Clinton Presidency. Everyone thinks that it was Bills fault. Fast forward to today you have people saying the Dems have done nothing in congress during the Bush years but the Dems only controlled congress for two years (since 2006) out of his eight year term.

[ucfjtm]

Originally Posted by mrbob

floridasandy,

I think everyone - democrat or republican - is livid about this bailout bill. I surely am - and I'm a democrat.

I blame both parties for the mess we are in - Clinton signed the bill in 1999 that allowed banks to enter into shady investments, and Bush and his fellow republicans gutted the regulatory agencies and went crazy with deregulation and did nothing during the 6 years they were in total control and warnings were being issued...

I think this mess is disgusting - but what are we to do about it now?

If the bill doesn't pass (which in a way we'd all feel good about), then the markets will tank, credit will freeze up, and millions more of us will be unemployed than otherwise would happen. The economy could go into a very serious recession - unlike any in our lifetime - and could actually approach depression status. I don't think anyone in their right mind wants that.

All I can say is people should think long and hard about voting long-time incumbents back into office. I personally think it is a bad thing to do - they should instead be tossed out on their behinds - from both sides of the aisle.

Anyone who's been in office more than 10 years is probably corrupt - and it's safer to vote them out.

Will people actually do this? I doubt it... but I can always dream...

I'm upset about it too, and it goes back before 1999. Look at Clinton's beefing of the Community Reinvestment Act of 1977 in January of 1995. That pushed government involvement into the mortgage business by requiring banks to give out a quota of risky/bad loans to meet merger ratings. There's enough blame to go around for everyone, but a bailout right now is not the answer, especially with ANY earmarks included:
ACORN Issue Fueling Bailout Opposition, By Ryan Grim - CBS News