OT - protest the bailout - Page 6

Blitzen

I am ignorant and a bit slow.  I have asked a couple of times for someone to explain why one would say no to the bailout and give me an alternative solution.  If that solution is to do nothing, please give me a detailed explanation how and why the economy will work itself out.   Please, humor a moron.  If someone tells me not to eat the yellow snow, I gotta know why and the reasoning of how white snow is better.

I hear how we are going to pay for this, over and over, but the simple fact is that we already are.

Don...Have at it. If it makes my point, or a poignant statement, Yes, Ill  post a quote.   What are you bitching about?  I saved you the trouble from actually having to read a book,  & now youve got the nerve to gripe....?  Im sure youve seen that quotation before with the library of books in your home. Not

Sue...very insightful

Politics is all theatre. Nothing more. 

1 World Governement, 1 world currency & 1 world  religion.... is THE Ultimate goal for those in charge.

Don, there are any number of alternative solutions on the net. Google bailout if you are interested in reading them. What's you big problem with an alternative plan? Do you really think the politicos give 2 shits what anyone else has to offer? Isn't it enough to know that we are once again beling blindsided by the very people we have elected to serve us and protect our interests? They don't care about alternative plans, so why would that even be an issue to you?

A few exerpts from The Common Sense Fix:

Insure the subprime bond/mortgage with an underlying FHA-type insurance................In order for a compnay to accept the government-backed insuraance they must rewrite any mortgage that is more than 3 months deliquent to a 6 % fixed rate.............roll back all payments with no late fees or legal costs......cancel all prepayment penalities to encourage refinancing or the sale of property to pay off the bad loan.

There is a lot more - google The Common Sense Fix if you want to read it in its entirety.

If you think this is a good idea, that's your perrogative; tell your reps to vote for it. Frankly the reason I am protesting it is because, for starters.  it is going to cost every taxpayer in this country an extra $2,000 next year. I don't feel as if we should have to pay for Wall Street's greed by providing them with more golden parachutes. Should something be done? I don't know, I'm not a financial expert but some of those independent experts have said - no. The market will self correct as it has done many times in the past. I feel as if I am within my rights to express my opposition to this bailout even though I do not have the expertise to offer up a better plan of action. I don't trust politicians and am certainly not convinced this is in the best interests of any middle class American.  Frankly I'm sick and tired of being intimidated by White House scare tactics. There hasn't been adequate time to even present  this bill to the public for their comment. Nothing new in that concept, we have been taught to not ask questions and to allow our elected officials to decide everything for us. How has that worked for us so far? Therefore all I know is that it's going to cost you and me to bail out a bunch of greedy billioniares and speculators who have extorted America for years.  They weren't feeling sorry for us when they rammed the price of gas down our throats so they could make money and short selling stock they didn't even own in order to manipulate the market. Let them eat cake now.

Not many people are aware that Hitler wrote a second book.  It detailed his goals and basically stated how US was his ultimate goal, we have all of the resources, and he admired the workforce of America..  He wrote about how the stronger people of Europe left for America. 

Ugly

I don't need to read.  I get all of my information from the mainstream media and internet.  Thanks!

Blitzen

I have no problem with someones opinion as long as they give one.  Simply telling someone to protest something without a reason is different.   I never said I was for or against the bailout.  Please don't misunderstand me.  I just wanted a civil conversation stating the pros and cons, with a few alternative options.

Where did you get the information that you and I will pay an extra $2000 next year?  Just curious.  Seems to me, I lost 20x that amount on my residence this year. 

Don...thats your problem (among others) Mainstream Media.  Paid Liars promoting an agenda

And NO, Hitler had NO Plans, Ever, of conquering the world & never attacked America. He fought off Communists & Central Bankers & War was Declared ON him.   Read Buchanan ..'Hitler, Churchill & an unnecessary War' to try to understand just a little bit about WW2. Dumbass

"I believe now that Hitler and the German people did not want war. But we declared war on Germany, intent on destroying it, in accordance with our principle of balance of power, and we were encouraged by the 'Americans' around Roosevelt. We ignored Hitler's pleadings not to enter into war. Now we are forced to realize that Hitler was right." - Attorney General, Sir Hartley Shawcross, March,16th, 1984

"The last thing Hitler wanted was to produce another great war." - Sir. Basil Liddell Hart

I have asked a couple of times for someone to explain why one would say no to the bailout and give me an alternative solution.  If that solution is to do nothing, please give me a detailed explanation how and why the economy will work itself out.

Don, I am going to give it a shot though I suspect my response will not necessarily leave you any more enlightened.

Let me start by saying that doing nothing is not a viable option but my biggest problem with the bail-out is that no one knows for a fact what the true exposure is and whether the $700 billion package will take care of the problem. For that matter, no one really knows how the the $700 billion was formulated. Why $700 billion and not $500 billion or $900 billion? Remember there have been no hearings to ascertain the opinion of experts as to the best approach or what other alternatives are available. The idea that we authorize a huge amount of money for a bail-out without any consideration of alternatives is asinine.

Paulson and Bernanke came up with this amount and, frankly, there are not more than a handful of members of congress who really have the expertise to evaluate the request - no fault of theirs, it is just very very complicated. My background is finance and in days gone by, I was actively involved in putting together very complex financing on acquisitions involving hundreds of millions of dollars - but I am not sure that I fully understand the complexities involved. This is not a knock on our elected officials that they don't understand what is involved - but the thing to do in a situation such as this is to seek the advice of experts who do understand what is involved.

What I find truly offensive is when Paulson came to Congress with a three page summary which required approval for $700 billion dollars with no oversight or right of legal challenge. He was to have complete discretion to spend the money any way he wished and had the right to provide substantial severance to the very same executives who created the mess. Paulson also said the package had to be passed immediately. I am sorry but these are the same scare tactics I have heard from the Bush administration  repeatedly - it happened with the authorization for the war with Iraq and also when it came to passing the Patriot Act. Paulson was the very same guy who repeatedly said that the economy was strong and the sub-prime problem was under control. He was obviously wrong then - and so what is the reason to believe that he is right now in terms of the solution that he is advocating?

I find it repugnant that the executives who were involved in creating this mess can walk away with millions of dollars in compensation - or that the stock/options that they have which are presently in the toilet, will stand to make tens of millions of dollars when and if the stock price recovers because the government balied them out enabling them to recover.

don (sorry had had the wrong name here before)- just skimming this am and don't have time to look up the links but to address your question about what to do instead of bailing out wall street out - you need to listen to folks like ron paul (r) & lloyd dogget (d) and many other. if we're going to spend $700 bil one option is investing in the small businesses and small farmers who have yet to prove their incompetence and just maybe if people got their businesses up and running and were taught how not to keep a business running without becoming dependent on loan/banks we could actually prevent this from happening again. then there would be no credit crunch but what the gov't & media are saying is just what preston's been talking about - economic terrorism - they are trying to scare everyone so we can't think clearly and they can pull off their slight of hand.  so don;t bend over and let them screw you. and don't let them get away with screwing you or trying to screw you.  it unconstitutional and therefore illegal.  if you had a large chunk of money to fix your problems would you invest more into what got you into the mess or would to look to approach it from a different angle?  this approach they are saying we must do or else conjures the old saying that goes something like this: 'the definition of insanity is doing the same thing and expecting a different out come'  bailing wall street out will only delay the solving of a long standing problem - bottom line they're asking us to throw good money after bad and that is not wise and should not be supported.

Ugly or Mel Gibson?

The Mainstream media and internet statement was a joke.  

I never said that Hitler attacked US.  I said it was a goal.  I like your, or their quotes.  All that tells me is that the UK and US were opportunistic.  Where are the quotes from some Polish, russian or even German officials?  We all know that profit is a part of war.  Spare me the second grade history lesson.   

this might help understand the world finance and how to not be part of this problem check out - funny went there to double check i had the right wed addy and she has in her blog -

Ten Reasons Not To Bail Out Wall Street

i haven't read it yet:) but she brilliant http://solari.com/blog/