700 Billion for the Banks!!!

700 Billion for the Banks!!!

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• Banks!!!
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[zenguin13]

You said one thing that just blew me away.

To forget the notion that Repulicans are for free market economy. I almost forgot not to buy that crap. I'm old enough to remember the bailout in Detroit orchestrated by Lee Iaccoca in the 70's. The Republicans are for a free market economy as long as it dosen't affect their freedom to make an deregulated buck. McCain was one of the Keating five for the love of mike.

[randyhelzerman]

Hi zenguin13, yeah, I was around then too, and the irony wasn't lost on me. People actually thought that Ronald Reagan was a believer in the free markets. How much better off would we be now if we would have just let Chrysler go out of business? Ford and GM would be a lot stronger now.

[sablechicken]

Ron Paul and his people seem to think that for the moment things will be a little bit better, but because of this government bail out it will only get worse and the dollar will crumble.

I think RFID chipping is coming soon.

If our vote still counts for anything, we better vote a third party.

[randyhelzerman]

Hi Sable, I think the U.S. desperately needs more political parties too.

[eiffuy]

actually... the government isn't spending 700 billion dollars... in order to spend something you must have something to give to use up. Do you really think that the government actually has 700 billion in reserve to just give/spend??? the government is creating 700 billion out of nothing...which in turn devalues the total usd money supply... and the reason they cant spend that money on paying mortgages is because printed from nothing is...worth nothing...and banks know this...people don't

[SugarMonkey528]

Don't mean to burst your partisan bubble, but the Democrats are just a culpable for this as the Republicans. Sure, there's a Republican at the helm when the final shoe dropped, but this has been happening for decades. To fall into the Dem vs. Rep shell game is fallacious.

We have GOT to vote all these bums out. Every last one of them. Every politician now in office (house, senate, etc.) need to go. They're all responsible.

[NedFreppelin]

Fuck Paulson.

Fuck Congress.

I want my goddamn money back.

They went against the public and took out a mega cash advance that my son's children will be forced to pay back.

I'm so goddamn mad and there's nothing I can do about it. FUCK!!!!!

[hellshade2]

i was against bailing out the banks for a number of reasons. 1 that it was going to do nothing for the avg person trying to pay a mortgage. 2 that by bailing out these banks you are telling them hey it's ok you screwed up. we'll fix it for ya and now it does nothing to stop them from doing it again cause now we have a precedent to bail em out if the screw up again thru their greed.

[BMWKenDoll]

Or you could write in Ron Paul. He might not get elected, but it is better to vote for what you want and not get it than to not vote at all and then complain about not getting it.

[BMWKenDoll]

So long as we are printing money with no gold to back it, we could have a 7 TRILLION bail out if we wanted to, but of course people might then ask questions.

[BMWKenDoll]

Yes, every bubble that bursts is bigger than the one before, so just wait a few years for the ultimate bubble to burst just about the same time when the Euro have reached its ultimate strength, and then we will hear "To compete with a global market we need a strong common currency for North America that can hold its own to the Euro".

[BMWKenDoll]

OK I don't like McCain either, but come on! That's the New York times you are talking about here. That newspaper lies through its teeth to such an extent that even mainstream liberals want to puke.

[faszika]

i agree. :/

[riversonthemoon]

I hear talk of the money the government will pay for these CDOs will eventually come back. If these securities were worth ANYTHING there would already be a market for them. I agree with you. Let these banks fail. They'll come back leaner and more efficient. Instead use the 700 billion to lend to companies that will actually produce something, which is indirectly the justification for bailing out these banks. Bail out Main St., not Wall St.. & tighten regulation on CDSs. I could go on for hours..

[IAteYourTV]

yeah, it is kind of annoying when all you hear from conservative people is "the market" for everything. That is the excuse/reason for everything. The market will take care of it. Now amazingly the magic panacea is broken.

[Susieshepherd]

700 bill to people who could have put a halt to this "crisis" 2-3 years ago?? ....... f- that