$700 Billion Bailout Senate Sept 23 2008

Testamony (with comments) or the Sept 23 2008 testamony before the Senate on the proposed $700 Bailout that Warren Buffett calls the :biggest financial meltdown in American history"

Category:

News & Politics

Tags:

• Depression
• recession
• 700
• bailout
• meltdown
• Warrem
• Buffett
• US
• dollar
• bankrupt
• economy
• crash
• Wall
• Street
• FDIC
• bank
• failure

[TheBailoutBitch]

You unka Sammy, where's MY bailout?

[playfyte]

What ever happened to good,sound and honest business transactions? If business had been done this way,with everything above board,all concerned would have made money. Instead,those people on wall street conducted all kinds of high risk deals within an unregulated market model that opened the gates to naked short selling of convoluted loan products that when analyzed turned out to be not much more than fraud. Instead They should have paid the employees better creating a stronger consumer.

[torwald41]

chearn8838 you're right and you know it. Already the dollar is rising against every currency but the yen, when was the last time we saw that happen? It's an opportunity to buy, people, if you've got money, use it!

[torwald41]

$700bil = 5% of total US GDP. That is proportionally less than the sum raised to bailout the S&L failure of 1987, which turned out to be a good investment for the government in the long run. This buyout is an even better investment, as it is attached to private real estate, a security with tangible, appreciable value. The sky is not going to fall, Obama will be elected and the markets will stabilise.

[bbburton]

You fix this by punishing the people who caused it, you don't fix it by punishing those who are suffering the consequences. Congress and the financial whizzes created the conditions which caused this melt down in lending. It is clearly Paulson and his cronies that engineered this fiasco. It's time to get rid of most of congress and Paulson has to go.

[chearn8838]

All you Libertarians who think you are so smart...go read an economics textbook! Read about the Great Depression. Stop calling people names and embrace an attempt to fix this. This is a SERIOUS situation that Warren Buffett calls economic PEARL HARBOR. This bill isnt perfect but its the best we've got. I encourage Congress to support this bill.

[Kheskeim]

After having sit on a wooden horse in the middle of Time Square for a week.

[bbburton]

Paulson should be tared and feathered and run out of town on a rail.

[rumpelstillskin65]

mccain/obama want this 700billion dollar corupt corporate bailout yet they will still vote for these idiots people need to wake up and vote NADER dont you people think if they cared for you they would do something about the high cost of fuel,food,medical care,insurance and do something about wages they vote pay raises down for you and up for themselves here we go agian HELL NO BAILOUT call your senate/congress 1-800-828-0498 pass the #

[mylongcylinder]

Why is no one asking the question of HOW, exactly, a bill can legally go into the Senate without first being passed by the House of Representatives?