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Amazing, If I assume correctly that most of those who are moaning and groaning of a conservative bent then what was your alternative?
As a left Democrat who would have preferred the Swedish solution to the present crisis but knew that wasn't a chance in hell that you free marketers would have woken up in time to smell the coffee and stave off the next Great Depression, this was a pretty good deal.
To paraphrase Jack Nichleson, I would prefer that you said thank you and be on your way.
An alternative would be a pay out, not a bail out. Free markets stay free, we loan to those who are sinking to allow them to obtain some capitol to function again, but we loan it with lets say around 2% above the treasury rate. That's a good loan and they still have to pay it back and the tax payers don't get the shaft. We do allow oversight into things, but only for the purpose of making sure things are legit. We pass some laws that have severe penalties for institutions that are playing dirty pool. There were some conservative solutions suggested during this, free market solutions, but they were ignored.
This bill is exactly the same bill before, but with some extra things to please the groups that were interested more in getting their way than they were worried about government swallowing up the free market. It really is a joke.
I am sorry that's how democracy works and it is what we say the pledge for ... We do not get to pick and choose.
There are many times that I do not agree how my Taxes are used but I do not have a choice.
So pay up!
The real crime for our kids and grand-kids is putting them in a position where we have an economy that is destroyed.
Now let's move forward and lock up the Investment Bankers from Wall Street, and stop living beyound our means.
I cant speak for everyone, but I am far from "living beyond my means". College Student= Always broke= pinches pennies until they bleed= havent bought new clothes in 3 years.
Today, I 'unsubscribed' from the mail lists of my Senators, both voting for the 'Bail' for Wall Street Bill. I sent an email to my Congressman to advise him of same.
If Wall Street has problem, fix it. If there's a credit crunch, resolve it. Save the pork, sweeteners and wooden arrows for career enhancement day.
Quote:
Rep. Maxine Waters: However, I have sat through nearly a dozen hearings where, frankly, we were trying to fix something that wasn't broke. Housing is the economic engine of our economy, and in no community does this engine need to work more than in mine. With last week's hurricane and the drain on the economy from the war in Iraq, we should do no harm to these GSEs. We should be enhancing regulation, not making fundamental change.
Mr. Chairman, we do not have a crisis at Freddie Mac, and in particular at Fannie Mae, under the outstanding leadership of Mr. Frank Raines. Everything in the 1992 act has worked just fine. In fact, the GSEs have exceeded their housing goals. . . .
I am sorry that's how democracy works and it is what we say the pledge for ... We do not get to pick and choose.
There are many times that I do not agree how my Taxes are used but I do not have a choice.
So pay up!
The real crime for our kids and grand-kids is putting them in a position where we have an economy that is destroyed.
Now let's move forward and lock up the Investment Bankers from Wall Street, and stop living beyound our means.
I get to pick and choose and I have a choice. And I don't live beyond my means.
I use credit cards everyday. I dump all my 'household' expenses, ie, electricity, cable..., onto those cards. And I PAY OFF in FULL those cards every month. And I pay cash for groceries.
I get to pick and choose and I have a choice. And I don't live beyond my means.
I use credit cards everyday. I dump all my 'household' expenses, ie, electricity, cable..., onto those cards. And I PAY OFF in FULL those cards every month. And I pay cash for groceries.
Frankly, I expect the same of Congress.
I do the same and I actually get paid back money for doing so. I mean, I use a credit card, never pay a drop of interest and they pay me money? I love it. *chuckle*
So whats next? Doesnt Congress have to take a vote now?
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