700 Billion Dollar Bailout!

[formerkywrestler]

Does anyone have a link to the exact wording of the bill? I can't seem to find it.

 

Also, why aren't more people on here talking about this?

[HHSDad]

There is no legislation yet. And there are several threads about it.

[formerkywrestler]

There is no legislation yet. And there are several threads about it.

Ok, legislation wasn't the correct word. But if I remember one of the many articles I have read on it is Paulson did type up an official document of some sort that entailed the proposal.

 

I know there are several threads, but I haven't seen any of them reach two pages yet. If this would be about a candidate misremembering, their supposed faith, lack of media coverage, etc. There would at least be one thread at two pages.

[woodsrider]

I don't think most people understand the magnitude of it. The government throws around money like it's water so I think most have become numb to hearing billions associated with the Feds.

 

That said, this makes me sick to my stomach. I don't know enough about the economy to know if it should or shouldn't be done. I am really leaning towards not doing it and let the chips fall where they may. On the other hand what if their cow chips and they land on me, that would suck.

 

I would like to add that if it is done it better NOT include saving homeowners from foreclosure. My solution to that is offer them a 30 year fixed at the market rate. If they can afford it let them refinance and stay. If they can't see ya.

[Jim Schue]

Sadly, it takes a sports columnist to point out how screwy the bailout is.

 

Granted, Gregg Easterbrook isn't your typical sports columnist. Scroll almost halfway down to the "Gimme Gimme Gimme" subhead. I share many of his same questions. Especially why the executives of these failed companies aren't punished in their pocketbooks.

[HHSDad]

Sadly, it takes a sports columnist to point out how screwy the bailout is.

 

Granted, Gregg Easterbrook isn't your typical sports columnist. Scroll almost halfway down to the "Gimme Gimme Gimme" subhead. I share many of his same questions. Especially why the executives of these failed companies aren't punished in their pocketbooks.

Paulson is a former Goldman Saches exec. I'm sure he's just looking out for his old buddies in the investment banking industry.

[ladiesbballcoach]

This does not feel right or good in any way shape or form.

[woodsrider]

Sadly, it takes a sports columnist to point out how screwy the bailout is.

 

Granted, Gregg Easterbrook isn't your typical sports columnist. Scroll almost halfway down to the "Gimme Gimme Gimme" subhead. I share many of his same questions. Especially why the executives of these failed companies aren't punished in their pocketbooks.

Very good article. Thanks for posting it.

[Jim Schue]

Paulson is a former Goldman Saches exec. I'm sure he's just looking out for his old buddies in the investment banking industry.

 

Now waitaminute. How is this any different than when I question the ethics behind Bush and Cheney's protection of their oil buddies? The hardcore conservatives on here line up to poo-pooh that suggestion as though it was out of the realm of possibility?

 

Somehow, I doubt Paulson is any less ethical than Bush and Cheney.

[HHSDad]

My question is where is the $700,000,000,000 going? What do they need it for?

[pigman]

^ From my understanding to allow them to keep on doing what has caused this in the first place.

[KyFans11]

This does not feel right or good in any way shape or form.

 

That is the same way I am feeling on this.

I just really hope those involved fraudualenty do some real time in a real prison, not a country club.:irked:

[KyFans11]

^ From my understanding to allow them to keep on doing what has caused this in the first place.

 

Humm and more govt. regulations that the govt. doesn't follow-up on.

[KyFans11]

I think the first bailout dates back to Jimmy Carter....

[woodsrider]

My question is where is the $700,000,000,000 going? What do they need it for?

It is my understanding that it will be used to get these bad debts off of the books of these companies to free up their resources to provide more credit. I have no idea what companies this would involve.

 

There are those who think some of it should be used to help avoid foreclosures for individuals. I don't think one cent should be used for that. I also think all management any company receiving these funds should be fired with nothing more then a swift kick in the butt on the way out. I don't think any shareholders should benefit from this at this point. I am not too sure someone doesn't need to go to jail for something. This whole thing makes me so mad I can hardly think.