Bailout SUCKS

YoungJoonKim

Electoral Member
Aug 19, 2007
690
5
18
Let's simply put this into context. WHY THE HELL SHOULD AMERICANS PAY FOR WALL-STREET'S MESS? This is absolute ludicrous!
After long years of health care failure, credit failure, and now housing failure, somehow "ohhhh sky is falling" is all news? I don't think so. The easy credit and low interest rate, plus the health care that has put so many Americans bankrupted, it is NO WONDER America is at recession and it is NO WONDER why Americans MUST face depression.
I hate how this is working out. Though liberal and believes in government intervention, this is outright wrong. There are moments when justice can and should be delivered and this, ladies and gentleman, is no justice. It is not justice when the corrupt government spends people's money without their approval. It is not justice when greed of Wall-Street will go unpunished. It is wrong and Wall Street should face default like Americans. Stop this bad socialism and FOR ONCE do GOOD socialism America!
 

lone wolf

Grossly Underrated
Nov 25, 2006
32,493
210
63
In the bush near Sudbury
This is US policy come home to roost. US punishes the people with sanctions, embargos and blockades for what their governments do. A 700 billion dollar headache may just help to teach Uncle Sam that minding one's own business is good business.
 

darkbeaver

the universe is electric
Jan 26, 2006
41,035
201
63
RR1 Distopia 666 Discordia
Grand Theft America.
Financial Crime of the Century

By Stephen Lendman

Global Research, September 29, 2008

The crime of the century. The greatest one ever. Author Danny Schechter calls it "Plunder." The title of his important new book on the subprime and overall financial crisis. Economist Michael Hudson and others refer to a kleptocracy. A Ponzi scheme writ large. Maybe an out-of-control Andromeda Strain. An economic one. Deadly. Unrecallable. Science fiction now real life. Potentially catastrophic. World governments trying to contain it. Trying everything but not sure what can work. Maybe only able to paper it over for short-term relief. Buy time but in the end vindicate the maxim that things that can't go on forever, won't.
 

Lester

Council Member
Sep 28, 2007
1,062
12
38
63
Ardrossan, Alberta
Paulson on one knee to Pelosi begging for the bailout-what a coward, he's begging for his own fortune not the average Americans. I'm surprised someone hasn't started offing bankers.
 

coldstream

on dbl secret probation
Oct 19, 2005
5,160
27
48
Chillliwack, BC
One has to look at origin of the mortgage default crisis to realize why this bailout will provide no solution to the crisis in the U.S. and world economy. The mortgage mess started when the polarization of wealth, and the steady fall of the American industrial class out of middle class and into the underclass of American society, leading to a glut of housing for which there were no qualified buyers.

The outright fraud in packaging mortgage products in exotic and opaque instruments was a collabortive effort of government and priviate interests to delay the reckoning for the industrial collapse of America, brought on by Free Trade, and facilitated by free market financial deregulation and monterism (free trade in currency and credit).
If you don't fix Free Trade, nothing will prevent a collapse of the American and world economies. It has provided vast disequilibriums in both the developed and developing world and all will suffer from a catastrophic economic deflation. If you maintain industrial and agricultural integrity of America and the West, with regulated liquidity and credit, then the system won't collapse. The problem is there is no real sense of what is the problem and what is a symptom in this legislation. Which means we are at the brink of a Depression of unknown depth and duration.. which is only peripherally and symptomatically related to the mortgage crisis.
 

Outta here

Senate Member
Jul 8, 2005
6,778
157
63
Edmonton AB
U.S. bailout bill defeated

JULIE HIRSCHFELD DAVIS
The Associated Press
WASHINGTON– The U.S. House of Representatives today defeated a $700 billion emergency rescue package, ignoring urgent pleas from President George W. Bush and bipartisan congressional leaders to quickly bail out the staggering financial industry.

I'm surprised. This was the right thing to do imo, but I really didn't think the House would do the right thing.... it would be nice to hear that they've got a more reasonable alternative ready to put forward, but I haven't heard of anything yet... Did they have a 'Plan B" ?? 8O
 

thomaska

Council Member
May 24, 2006
1,509
37
48
Great Satan
Nevermind the fact thatthe bail out package was just a $hitsandwich some pinhead just pulled out of his ass, our ****ed up politicans just couldnt resist sticking things in the bill that had no place in there.

I'm beginning to wonder if it isn't time to start applying fresh pitch to the torches, and sharpening up the pitch forks...
 

Ron in Regina

"Voice of the West" Party
Apr 9, 2008
22,505
7,525
113
Regina, Saskatchewan
U.S. bailout bill defeated



I'm surprised. This was the right thing to do imo, but I really didn't think the House would do the right thing.... it would be nice to hear that they've got a more reasonable alternative ready to put forward, but I haven't heard of anything yet... Did they have a 'Plan B" ?? 8O

I think plan "B" will be a reworked reworking of plan "A" for strike two...
 

Kreskin

Doctor of Thinkology
Feb 23, 2006
21,155
149
63
They need to eliminate long term capital gains on property purchased now and over the next couple of years (perhaps property bought before getting into federal hands). Introduce it with the previous proposal and get on with it.
 

talloola

Hall of Fame Member
Nov 14, 2006
19,576
113
63
Vancouver Island
No doubt there is a plan B, and I'm sure the failure of plan A was a 'ploy' so that the
republicans can be responsible for changing a few of their votes, and take credit for
being responsible for 'finally making sure that this bail out was pushed through', and,
of course, because of ' their changes',as if
it wasn't for them, it would have failed, the political game never stops.
 

Lester

Council Member
Sep 28, 2007
1,062
12
38
63
Ardrossan, Alberta
Since the Dems have a majority in the house they will probably craft a plan that they want and to hell with what the republicans want. Bush and Paulson will take anything they can get.
 

talloola

Hall of Fame Member
Nov 14, 2006
19,576
113
63
Vancouver Island
Since the Dems have a majority in the house they will probably craft a plan that they want and to hell with what the republicans want. Bush and Paulson will take anything they can get.

Their majority is very small, so they need the republican vote, with good numbers, to
pass this bail out bill.