Rescuing Wall Street to Save the US Economy - Neither Fair Nor Effective

[ldksparda]

Remember people, spread this around if you must. But if that Stimulus doesn't pass. remember, when you're rioting and killing for a quick buck to save your families in these times, think back. "the republicans were against it, causing the Great Depression of 2009"

[Martintfre]

UNrestrained deregulation - STOP REGURGITATING that garbage!

There is no risk as long as government regulations where any idiot loan will be backed up by the tax payers no matter how poorly supported by the ability of the person recieving the loan to repay it or the fraud committed by the lending institution who made it, That is nonsense would never happen in a free unregulated market.

Bailouts that reward the incompetent would never happen in an unregulated free market.

[saveurhomenow]

Don't Get Foreclosed On Modify Your Loan go to homesaver(DOT)tk

[AcaiBerryMONAVIE]

SUCK SATAN'S COCK wall street

[ldksparda]

ROFL.

[mrkmoua]

Its funny how people want laissez-faire, yet when something like this happens, they want other people to pick up the tab.

[Martintfre]

mrkm..IF we actually had laissez-faire markets then banks who loaned out money too much money to too many people that could not pay back would fail.

Then housing prices would drop as Larry the liquidator forecloses on the banks and unloads their 'toxic' assets.

Then the poor and lower middle class could finally afford to buy homes because housing prices were no longer inflated by bad government policies that rewarded bankers and punished all home owners .

[rufousme]

Funny how the government become communists when it comes to protecting the rich bankers.

[mactos678]

yea, tax breaks are great for keeping worker pay high and companies in our country but regulation is important and the more the better.

[dangusdoug]

This is not a Republican or Democratic issue these are our issues. The only issue we really have is a separation issue.

We need to unite has ONE HUMAN RACE.

[joneselius]

One human species, not race.

[dangusdoug]

Ok sounds good

[UnconcernedCitizen]

I will contribute to the bailout fund if Henry (Hank) Paulson — U.S. Treasury Secretary, former Goldman Sachs CEO, and all-around bald guy ponies up the $200 million in capital gains tax he was exempt from having to pay. It seems Hank made a bundle from 2003 to 2006 and did not have to show Uncle Sam the money. I made around $17,776 during the same period and though I have already paid Uncle Sam, I would cough in a few more bucks if Hank throws up, err in, his $200 million.

[descanter]

Time for Revolution

[opel47]

ill see yall in the bread line!! thanks wall street!!

[seeprogress]

Yep thats about it -- click on the link to the right of the video to read CAP's analysis of the bailout plan proposed by the Bush Administration.

[sugarpuddin88]

Last Christmas was a record in civilization for bonus money; as was the year before that...

Yet the following month Bear Sterns went bankrupt; and by this month, all of the rest went bankrupt thanks to Phase 3 asset (hiding) rules & the privately owned bank, the FED, encouraging gambling on Wall Street; (note that these collapses due to Phase 3 asset cooked books makes Enron look like the Boy Scouts of America)

[sugarpuddin88]

In fact, all told, the sum of Christmas bonus money by the 5 large Wall Street banks to their top criminal elite equates to more than the total GDP of Vietnam - a country of millions of peoples!!

[opel47]

well we've got to make sure they get their 10million dollar summer mansion paid for. Lets not forget that we dont want their kids to ever have to work, since THEY will be the next congressmen and women condoning the same thing all over again in the future! republicans sure know how to take care of business.....just keep it all!!

[freddycupples]

Don't call them republicans, they are now officially known as the Class Warfare Republicans(CWR).

[opel47]

sorry, sorry, i definitely will not do it again.

[sugarpuddin88]

Bernanke, a man who the US did not elect, and who works for a private bank, has been allowed to bail his buddies out on Wall Street for untold trillions -- If he had not bailed them out, all those people would have had to return their Christmas bonuses; (and the Trustee of the bankruptcy court would have likely taken back their Maseratis for gross negligence)

[jhaygood]

Short version - If mortgages are continued to allow to fail on a local level, the housing market will continue to flounder, and the financial crisis will continue.

Bailing out the current round of failures won't solve the underlying problem, and the bailout will just be throwing good money after bad...

That's about it, right?

[Voidka]

The money they are throwing to the corporations, they should have thrown to the citizens that received a bad mortgage. The money would have eventually funneled to the banks and also stopped people from defaulting. Ultimately, the weakest link would be severed allowing the market to fix itself. After that stablizes we could prosecute all the CEOs that were involved in the mortgage scheme and have time to fix the real economic problem.

Anyways, its too late to do that. The economy is fucked.