The FBI is now looking into whether there was fraud involved in the failings of these financial institutions.

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:

 

Indeed. And all their savings accounts and other assets should be frozen and forfeited. For these jerks to walk away with money in their pockets is the biggest crime.

Is the plan to guarantee these mortgages or are we actually giving the money to these institutions? If it is a guarantee perhaps some of these people will actually pay off, make payments, or refinance their mortgages and the total won't be as bad as projected. Could it be that the amount listed is a worst case scenario?

 

Gosh, I hate to foot the bill for someone elses greed and stupidity. :madman::irked:

Indeed. And all their savings accounts and other assets should be frozen and forfeited. For these jerks to walk away with money in their pockets is the biggest crime.

 

And it seems both presidential candidates have people on their staff that have already done that, correct?

Finance is the backbone of the economy. The revolution in the finance industry that has taken place over the last 30 years has created untold wealth the world over. This financial crisis will not undo that. What WILL undo it may be the dangerous temptation for the government to take too great a firm hand with the industry.

 

The AIG bailout was necessary. Its financial products division backs a great many of the deals that have gotten us into this mess. For such a large insurer to fall would make things WAY worse. But the full on bailout is troublesome. We'll have to wait until the legislation hits to judge if Congress has let us down again.

 

Let me say it... I'm not expecting much good from them.

If there is anyone on this board that is smart enough to understand the real implications of such a decision then I'd suggest you get off this board and get into the world of finance or govt. You're wasting time here.

 

IMO there are only a handful of people in the country that can intelligently debate this topic. Its too big for the rest of us.

If there is anyone on this board that is smart enough to understand the real implications of such a decision then I'd suggest you get off this board and get into the world of finance or govt. You're wasting time here.

 

IMO there are only a handful of people in the country that can intelligently debate this topic. Its too big for the rest of us.

Agree. Paulson says one week everything is great and nothing more is needed, then the next week says the sky is falling and we need $700 billion to save the world. And this guy is suppose to be the expert.

I just started reading a book called "The World is Curved" that deals with the global financial system and its plusses and minuses.

Maybe I'm simple-mided.

 

But, this smacks as hugely wrong. I, as a taxpayer, will have to foot the bill to pay for irresponsibility on the part of companies who will continue in business, getting a "free pass".

 

I don't want to see the economy fail, but I am infuriated that their irresponsibility, which I (as a taxpayer) had no part of. I don't see this as any good for the country. I do see it as a way to ensure that whomever is our next president will NOT be able to lower taxes.

 

I do not see the addition of more national debt being a positive for either our country's economy or it's citizens.

I posted this comment on another thread having missed this one, but on the Today show this morning a female analyst said this bailout will cost each household in this country $10,000 added to their debt. I just wonder what the government is going to do for us in the way of tax breaks for taking on greedy peoples debt. Should have let a couple of those businesses fail.:irked:

Maybe I'm simple-mided.

 

But, this smacks as hugely wrong. I, as a taxpayer, will have to foot the bill to pay for irresponsibility on the part of companies who will continue in business, getting a "free pass".

 

I don't want to see the economy fail, but I am infuriated that their irresponsibility, which I (as a taxpayer) had no part of. I don't see this as any good for the country. I do see it as a way to ensure that whomever is our next president will NOT be able to lower taxes.

 

I do not see the addition of more national debt being a positive for either our country's economy or it's citizens.

:thumb:

And it seems both presidential candidates have people on their staff that have already done that, correct?

 

Yup. Just one more reason I'm "happy" to sit this election out. :irked:

Maybe I'm simple-mided.

 

But, this smacks as hugely wrong. I, as a taxpayer, will have to foot the bill to pay for irresponsibility on the part of companies who will continue in business, getting a "free pass".

 

I don't want to see the economy fail, but I am infuriated that their irresponsibility, which I (as a taxpayer) had no part of. I don't see this as any good for the country. I do see it as a way to ensure that whomever is our next president will NOT be able to lower taxes.

 

I do not see the addition of more national debt being a positive for either our country's economy or it's citizens.

 

Now you know how I feel about welfare....:thumb:

Now you know how I feel about welfare....:thumb:

 

 

I think that welfare is needed, just not in it's present form. It's completely evolved into a different animal than it's original intent.

Now you know how I feel about welfare....:thumb:

 

At least most of the folks on welfare actually need the help. These jerks running these financial institutions can trip and fall into a million-per-year salary. Corporate welfare is still that — welfare.