Bush Asks Congress to Give $700 Billion to Banks
Filed under: Politik > Business Blitz
George Bush made a very Democratic Party move on Saturday.
The President asked the Congress to give $700 BILLION to the Wall Street banks that are basically in deep shit.
Bushy called it a 'big solution to a big problem'.
This 'big solution' would be the BIGGEST federal biz bailout since the Great Depression.
Funny — Bush in a way admitted that the 'Republican' way of letting the market 'sort itself' out can't fix a big problem!
If Bush's request is passed by Congress, the $700 BILLION that would go to the banks is your money, taxpayers.
Basically, if Wall Street isn't bailed out big time, our economy would be screwed and even more people would be out of work.
Guess we'll just have to wait and see how Congress responds to Bushy's request.
We sense they'll say yes, but the Dems will surely inject lots of 'we told you so's' all along the way.
[Image via WENN.]
Re: thecatsmeow – lol…. :]]
Re: maryc – you are right, but countrywide has it's share of corruption/shady practices………..no politician
Re: Twoboys2 – #48
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Four of the Keating Five were DEMOCRATS.
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McCain was CLEARED OF IMPROPRIETY. Not all were.
Right…get your facts straight, Perez. Many Democrats lobbied and pushed for the subprime loan regulations and threatened banks…and front and center was BARACK OBAMA. You can't blame it all on Bush…look in the mirror…OBAMA was as much to blame on this as anyone.
Re: maryc – …….can escape fingers pointing at associations……..crooks, the lot of them
Re: Smirks – Once again, Republican fail to check the facts before making claims.
These number reflect the contributions of the worker bees in these companies. Individuals cannot make more than a $2300 limited contribution. The worker bees in these companies have now lost their jobs. The higher combined contributions from the worker bees only reflects that the majority of workers in this industry know Obama has a better chance of cleaning this up because he is so much smarter than McCain.
Re: mamajud – LOL, awesome. And thank you. Just wanted to do something different.
I'm getting frustrated…I posted some stuff to cherry bomb and it didn't go through. Oh well. Basically the gist was that some of McCain's campaign staff were former lobbyists and employee's of Frannie and Freddie. And they took loads of money. I just wanted to point out that no politician is immune and that they are all shady. McCain is just as bad as Obama. The dems call Obama the messiah and repubs make fun of that. Which is cool, but McCain is no savior either.
REMEMBER!!! The DEMOCRAPS control CONTROL Congress and the Senate, so if the bill passes and people don't like it, how will the DEMOCRAPS blame Bush. Stick that up your fudge packer, Preze.
Re: Smirks – Also please not that the smart indidivual contribution from UC, and Harvard are for Obama. They don't even show up for McCain. Guess the smart people at the top scholls in the country don't think much of McCain either.
Go Obama
Re: _Alice_ – we think alike….i've got a new one i put up tis morn'…..waiting for the change
Vote McCain & GOPalin for more of the same! Stupid fuckers!
Re: mamajud – ok…just changed the avatar again. I think you and Smirks will like it….hahaha, I really need a hobby:)
Re: maryc – #75
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Raines WAS an advisor to Obama - whether they deny it now or not.
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Gramm WAS an advisor to McCain
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Both campaigns distanced themselves from these guys because you are judged by the company you keep. Politics as usual.
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It cracks me up how rabid Obama supporters are afraid to know the truth about their candidate. Most of them haven't read his books, nor have they really researched his stint as a community organizer, nor have they followed the money trail to his campaign contributors, nor have they done other due dilligence like reading Michelle's dissertation, and listening to some of Reverend Wright's sermons so they can better understand the man that is Barack Obama. They are going on blind and unreasoning faith. They follow him like he's Jesus - and they are the sheep(le).
Re: _Alice_ – wtf??…here and gone…..i keep looking over my shoulder for PIG to start ragging on us for talking stupid
Re: maryc – #109
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Have you never worked at a company like these? Are you not aware of the enormous pressure put on "worker bees" to contribute to the company's candidate of choice? Wow. You need some real-life experience.
Hate him. Hope he burns in hell.
Re: maryc – #112
Lol. Thanks for telling a person whose brother is a tenure-track professor at an Ivy how the academic elites feel. Gee. That's enlightening. Being an academic does not provide one with the skill set necessary to run a country. The academic elite is in love with itself and Obama is one of their own. The academic elite is best at doing research, philosophizing, hosting forums, and consensus-building, and sneering at all the people who don't share their views. LOL.
Re: _Alice_ – Heya Alice and MJ
Avatar-go-round? Hehe. I really need to change mine. It's a planetary nebula that looks like an eye. I find that interesting. But I'm getting bored with it.
Re: mamajud – haha, SHE can insult us all SHE wants. We're just having fun. On a serious note, I wonder if SHE is normal? I mean, what kind of person responds to every single post on a thread, just to prove them wrong? Very strange. Am I bad for saying that?
Re: Smirks – academics….i equate them to people w/no kids telling you how to parent
Re: Smirks – Whaddup Smirks? I can't figure out which one worked for me. But I think I have it now. I'm all about having a "Tea Party"!
Perez, again you got it wrong, like yesterday. No president, or party has done what Bush just did. In fact, our last Democratic President, Clinton, actually balanced the budget. If you are gonna write about politics, try to educate yourself first.
Re: _Alice_ –
padumpum…..funny
:l and, no, you're not bad……been pondering that one myself….such a blank expression :l
I wonder if Bush had not cut taxes dramatically for the rich only, we'd now have the money in the US Treasury to fix this aftermath of deregualtion?
Again we tax payer bail out another 8 years of the Republicans!!!!!
Obama/Biden 08
Re: mamajud – #123
I lol'd irl over that. Most of them are exactly like that. My sister-in-law works at the UN. Fortunately she is conservative and balances my brother out. But… they don't have kids and don't plan to. Shocker!!! Haha.
Re: _Alice_ –
Why don't you run for office, Alice? I'd totally vote for you!!!!
Re: Smirks – And running our country.
Go Obama
Re: mamajud – Okay, I'm headed to bed now. You ladies have a good night. And Smirks…I just realized I won't be able to watch the debates next Thursday. I'm headed state side in a few days for a wedding and the freaking rehearsal dinner is Thursday night! Total bummer. But I will be thinking about you guys and what you'll be saying on here
Tschüs!
Re: Smirks – post 130- LOL, only if you'll be my VP!
Re: _Alice_ – travel safe…..
Re: _Alice_ –
Have a safe trip and lots of FUN!!!!!!
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Yeah, I have a social commitment on Saturday so I won't be joining in our forum debrief either
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I'll be thinking of you, too, though. Cya when you get back!
Re: maryc – POST 127
Nope. It is debatable as to whether there would be any excess revenue from the higher taxes. Some argue that revenue is higher when taxes are lower. Regardless, any excess revenue would have already been spent on the war or other projects/earmarks or to pay down debt. The government doesn't believe in actually saving for a rainy day.
Below are a few lines from Obama's books, IN HIS WORDS!
From Dreams of My Father: 'I ceased to advertise my mother's race at the age of 12 or 13, when I began to suspect that by doing so I was ingratiating myself to whites.' / 'I found a solace in nursing a pervasive sense of grievance and animosity against my mother's race.' / 'There was something about him that made me wary, a little too sure of himself, maybe. And white.' / 'It remained necessary to prove which side you were on, to show your loyalty to the black masses, to strike out and name names.' / 'I never emulate white men and brown men whose fates didn't speak to my own. It was into my father's image, the black man, son of Africa , that I'd packed all the attributes I sought in myself, the attributes of Martin and Malcolm, DuBois and Mandela.'
************'I will stand with the Muslims should the political winds shift in an ugly direction.'**************
Hmmmm….a Muslim, a Bigot & a Racist…NO THANKS! McCain / Palin 2008!
How is this a democrat thing? it is the republicans that deregulated everything that put us in this fucking disaster!!! perez you have been quite the bitter betty lately. i suggest you figure out where your support is, because one of the parties is diametrically opposed to everything you stand for girlfriend!
A vote for McCain…
Will be 4 more years of the same.
Re: maryc – only because i agree w u i will point sth; if the usa were like much of socialized europe, then u could A. get a proper education without having to pay for it B. get social security and public health for free even if you are a homeless.
pls don´t missunderstand what i`m saying, I do agree w all you said except for this.
Re: 2Timothy4:3-4 – More Republican paranoid lies. Mr. Obama is a fine Christian who respects law abiding reglions and all others who seek peace.
Timothy you are a bigot! like your drug addicted hero Rush
Re: topbananasintheshockdepartment – I think we agree. I'm thinking of moving. At least, some of my saving to the EUR. The US has really spun out of control with our cowboy politics. The story hasn't been heavily reported but a lot of dollars have started to flow out too. So much so that the guberment is drawing upon the US gold reserves. This is serious. And yet all the Republican canidate can do is point fingers. Not one solid solution expect the tired old refain of lower taxes and smaller gooberment.
This entire mess can be traced back to the 90's when lending institutions used a practice called "redlining". Newspapers across the country were filled with hard-hitting investigative reports about evil and racist mortgage lenders refusing to make real estate loans to various minorities and to applicants who lived in lower-income neighborhoods. The claims that evil mortgage lenders were systematically denying loans to blacks and other minorities made better headlines than the real culprit - that when credit histories, job stability, loan-to-value ratios and income levels were considered there was no evident racial discrimination. Political correctness won the day. Washington made it clear to banks and other lending institutions that if they did not do something .. and fast .. to bring more minorities and low-income Americans into the world of home ownership there would be a heavy price to pay. (continued)
(Continued)
Congress set up processes (The Community Redevelopment Act) whereby community activist groups and organizers could effectively stop a bank's efforts to grow if that bank didn't make loans to unqualified borrowers. Enter, stage left, the "subprime" mortgage. These lenders knew that a very high percentage of these loans would turn to garbage - but it was a price that had to be paid if the bank was to expand and grow. We should note that among the community groups browbeating banks into making these bad loans was an outfit called ACORN. There is one certain presidential candidate that did a lot of community organizing for ACORN. I won't mention his name so as to avoid politicizing this column.
These garbage loans to unqualified borrowers were then bundled up and sold. The expectation was that the loans would be eventually paid off when rising home values led some borrowers to access their equity through re-financing and others to sell and move on up the ladder. Oops.
Right now this crisis is being sold to the American public by the left as evidence the failure of the free market and capitalism. Not so. What we're seeing is the inevitable result of political interference in free market economics. Acme bank didn't want to loan money to Joe Homebuyer because Joe had a spotty job history, owed too much money on his credit cards, and wasn't all that good at making payments on time. The politicians told Acme Bank to figure out a way to make that loan, because, after all, Joe is a bona-fide minority-American, or forget about opening that new branch office on the Southside. The loan was made under politicial pressure; the loan, with millions like it, failed - and now we are left to enjoy today's headlines.
he sucks!
So … why aren't you reading the whole story in the mainstream media? Come on, are you kidding me? Do you really expect the media to blame this mess on deadbeat borrowers and political interference in the free market when it is so easy to put the blame on greedy lenders and evil capitalists? Remember … there's an election going on. One candidate is decidedly anti-capitalist. Do the math.
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Neal Boortz is a nationally syndicated talk show host and co-author of The FairTax Book.
Re: maryc –
Wanna bet Mudd and Raines aren't? they and Obama go way back, Mudd praised Obama personally at a Congressional Black Caucus gathering not so long ago. BO has been in with this housing sinking ship and thos responsible for a while. McCain was one of the few who stood up and said all this was going to be a huge mistake.
Re: SquirrelLives – i had to chuckle this morning……O doesn't want to indicate any specific actions on what should happen inre the economy b/c his words could instigate panic on wall street…….then he heads out on the stump, where the words of the day are "great depression"
I AM A DEMOCRAT AND THIS ELECTION'S CAMPAIGN SEASON HAS SOURED MY STOMACH ON THE DEMOCRATIC PARTY!
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CANDIDATES *AND* DEMOCRATIC VOTERS HAVE TURNED INTO SUCH PANSIES WHO DO-NOTHING-BUT-WHINE-AND-COMPLAIN-ABOUT-THE-REPUBLICANS!!!
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THIS IS NOT A DEMOCRATIC PARTY SOLUTION, AND IT WASN'T OBAMA'S IDEA OR THE DEMOCRATIC PARTY'S WAY OF HANDLING THINGS!!!
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THIS WAY OF THINKING IS WHY WE CAN'T ELECT SOMEONE WITH MIDDLE OF THE ROAD, GOOD FOR EVERYONE VIEWS!!
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DEMOCRATS JUST SNIVEL SNIVEL SNIVEL AND EITHER TAKE CREDIT OR CAST BLAME FOR THOSE WHO HAD THE TOUGH TASK OF ACTUALLY MAKING A DECISION AND FINDING A SOLUTION TO A PROBLEM!!!
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WHEN THIS SOLUTION WAS REACHED, OBAMA SAID *NOTHING* FOR ALMOST 2 DAYS! MCCAIN SPOKE OUT WITH AN OPINION *AND* BIDEN SPOKE OUT WITH AN OPINION.
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OBAMA JUST SAT THERE AND LISTENED TO WHAT THE OTHERS SAID AND THEN HAD HIS CAMPAIGN STAFF USE SOME POLITICAL SPIN TO COME UP WITH SOMETHING CATCHY TO SAY!!
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YOU GUYS WANT "CHANGE"?!?! WELL THAT WILL HAPPEN NO MATTER WHAT!! BUSH IS OUT!!
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AND **MCCAIN IS NOT BUSH**!!
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THERE'S YOUR INTELLIGENT AND HONEST CHANGE!!
Re: JustSayin –
You are right, McCain is NOT another Bush. I'm glad some people see that.
Re: SquirrelLives –
Squirrel. That was an excellent post. I hope you save it and re-post it on future applicable threads. It is the most concise, thourough, and honest explanation of events leading up to this crisis that I have read. Good job!
This is way more serious than most normal people know…seriously. If things get bad enough we could start to see rioting because people don't have food to eat…….massive job loss………Marshall Law enforced…….do your research. ATS above top secret. Google it and read. It's scary.
I'm just wondering where Congress is getting that kind of scratch. Are they borrowing from Bill Gates?
Re: Smirks – I found this on yesterday's Real Clear Politics. Neal Boortz is a local radio talk show host here in Atlanta. He's been talking about this mess for years. I was surprised to see a column of his on RCP. I agree, this is the most clear explanation about the origins of this past week I have read. NewsBusters has something similar up now pointing to an article at Inestors Business Daily. I felt I needed to post that since no one seems to know where all this started.
Re: mamajud – Post 149
Was that another "present" vote…..or maybe another 3am call he missed??
Re: SquirrelLives – present……only slightly more counterproductive
Mr. Perez,
"Basically, if Wall Street isn't bailed out big time, our economy would be screwed and even more people would be out of work."
Really honey bunn, do you have any clue what this means? Like most Americans, you don't have a clue? Do you?
but I'm going to be nice to you today. I'm in a chipper mood. All you have to do is ask "WHO ARE WE IN DEBT TOO?" The DEMS can't save us either. We have to save ourselves. ciao!
xoxo,
ss
That guy is an idiot. And that's why I'm voting Democrat this year.
I don't think most of your readers will understand the gravity of this, Perez. Better just cover the plane accident. It's useless to try to teach some of these door knobs about the economy.
Re: Lola-itis –
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BECAUSE BUSH (WHO IS NOT ON THE BALLOT) IS AN IDIOT, YOU'RE VOTING FOR A DEMOCRAT!
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NOT BECAUSE YOU RESEARCHED EACH CANDIDATE, BUT SIMPLY BECAUSE THE A**HOLE MORON CURRENTLY IN OFFICE IS A REPUBLICAN, YOU'RE VOTING DEMOCRAT!
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YOU'RE THE IDIOT!!
ALSO - THIS IS NOT A PROBLEM 8 YEARS IN THE MAKING.
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WE HAVE HAD ADJUSTABLE RATE MORTGAGES FOR DECADES!
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THERE ARE DOZENS OF REASONS WHY WE ARE IN THIS MESS!
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THERE ARE DOZENS OF REASONS WHY WE SHOULDN'T DO A BAILOUT!
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THERE ARE DOZENS OF REASONS WHY WE SHOULD DO A BAILOUT!
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ONCE AGAIN, I AM A DEMOCRAT! I JUST HAVE HAD ENOUGH THIS YEAR OF OTHER DEMOCRATS ACTING LIKE MORONS WHEN FORMING THEIR OPINIONS AND SPOUTING OFF!!
Re: BooBooBear – The money is going to come from the tax payers.
Don't think your taxes are not going to be raised. There is no other way. Why do you think we are in such debt? Borrow borrow!
No matter who wins, they are going to be the fall guy trying to correct the situation this country finds itself. Four years will not be enough. Get ready to sacrifice people!
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I'm voting for the smart guy, top of his class, not the dumbshit who cost so many brave sailors their lives because he was fucking around.
He will do it again! McCain ended up on the bottom of his class.
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MCCAIN MORE OF THE SAME!!!!
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OBAMA ALL THE WAY!
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Re: Smirks – 116 Anyone who gets their news from the NY Post is an idiot. Calling Raines an Obama advisor is a far stretch indeed and only created to deflect criticism of McCains RELATIONSHIP with Phil Gramm.
McCain is a loose cannon and Palin doesn't believe in Evolution.
Even the Catholic church is coming out saying evolution and the Bible can coexist.
I can never vote for any person who is so archaic and out of touch! They will be way to trigger happy to bring about the Apocalypse. I am terribly frightened by the stubborn stupidity of the right! So many people are afraid to think for themselves.
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We need an intelligent person to take the reins and bring this country together in all aspects. I am not going to be an ostrich with my head in the ground!
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VOTE FOR THE SMART GUY!
VOTE FOR OBAMA!
US Republican presidential candidate John McCain has raised suspicions in Spain that he thinks the country's prime minister is Latin American. DUH!!!! BUSH2!
Sacrifice?? Are you talking about the $$ we will sacrifice to higher taxes under Obama? Maybe the job you will sacrifice when you get laid off or your small business dies because of higher taxes? Or maybe sacrifice the choices you had with private health care because of government meddling that makes private health care affordable only to the wealthy? Or maybe sacrifice our safety because Obama thinks he can negotiate with terrorists? Obama is a wolf in sheep's clothing, a cloaked communist. That sacrifice shit and fainess and evenness shit is communist doctrine. NOBAMA
Interesting Harpers Index quotes:
Total donations that John McCain received from the oil and gas industry in June: $1,100,000
Portion of this that came after he endorsed new offshore drilling on June 16: 3/4
Estimated total cost, over ten years, of the official tax policies laid out by McCain’s campaign: $4,200,000,000,000
Estimated total cost of the tax policies proposed by McCain in his public speeches: $7,000,000,000,000
Number of Senate votes McCain has cast since May: 0
Re: SquirrelLives – Squirrely you are naive to think McSame will be any different! That's what I am saying! There is no way the next president will not raise taxes! Democrat OR Republican! Period!
MCCAIN MORE OF THE SAME!
Re: Bavaria – Thanks!!! Obama in 08, we really do need a change!
Re: sweetpiece –
I'm not voting for the Commie. Plain and simple.
Re: SquirrelLives – You are a bigot! Plain and McSimple is your false belief that it is inner city subprime loans that have caused this mess. If mortgage brokers had stiffer rules to keep them honest then subprime would not have existed. Trying to blame inner city residents is just plain racist.
Re: maryc –
No, if you read the entire post, the blame is squarely on the government interference in the mortgage industry. Not on the poor people that got taken by predatory lending or who were given opportunities they wouldn't otherwise have had. They wouldn't have been allowed to make the mistake had the government stayed out of the industry in the first place.
Just how many morgages would $700 BILLION DOLLARS buy? ayah
Wow. This guy is really hungry and gunnin' for
WORST PRESIDENT EVER!
And you know what? I think this seals the deal!!!!!!!!!!
Capitalism is supposed to be "free market -based" that is, if a company succeeds it succeeds, if it fails, it fails! It can go either way.
What does it mean when the US government bails out companies that are failing??? In this US-style capitalism, the government favours bailing out massive conglomerates that are failing, paying out billions of dollars to company shareholders, making the shareholders unfathomably RICH even if the company they represent is totally worthless!
The US is crumbling, the poor are up shits creek without a paddle. The rich are getting richer at the expense of the poor. This is not democracy OR even capitalism! It's an imperial super power nearing its' end days.
Re: sweetpiece – #164
Good thing I don't get my news from the Post then.
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If you knew as much as you pretend to know, you would know that Palin's feeling about Creationism is that if it came up during a discussion of Evolution, in her opinion, it should be discussed and talked about as well. Here are her REAL views (from AP - a liberal source, no less):
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When asked during a televised debate in 2006 about evolution and creationism, Palin said, according to the Anchorage Daily News: "Teach both. You know, don't be afraid of information. Healthy debate is so important, and it's so valuable in our schools. I am a proponent of teaching both."
In a subsequent interview with the Daily News, Palin said discussion of alternative views on the origins of life should be allowed in Alaska classrooms. "I don't think there should be a prohibition against debate if it comes up in class. It doesn't have to be part of the curriculum," she said.
"It's OK to let kids know that there are theories out there. They gain information just by being in a discussion."
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Liberals feel if theories, opinions, or thought deviate from the liberal groupthink, then they should be silenced. It's a shame. Conservatives are just more tolerant.
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Palin's dad is a SCIENCE TEACHER.
Just think that Gore was 500 votes away from the presidency. We could've avoided 9/11, the Iraq war, the mortgage disaster, the energy crisis, list goes on and on…depressing to think about. Let's hope gets it right this time. Tho I'm not holding my breath.
BUSH AND ALL THE RIGHT WING IDIOTS WHO BROUGHT US INTO A WAR AND RUINED THE ECONOMY NEED TO GO!!!!!!!!!!!!!!!!!
Dave, WickedGayBlog.com
P.S. Did you hear??
Alaska town opens 'road to nowhere'
JUNEAU, Alaska (AP) — Alaska may not have a Bridge to Nowhere, but it now has a Road to Nowhere.
The state this week completed a $25 million gravel road that was intended to lead up to the bridge linking the city of Ketchikan to its airport on a neighboring island.
The bridge project became the symbol of federal largess, and Congress eventually dropped the earmark for the bridge.
The state still received the money, but Gov. Sarah Palin — who once supported the bridge — last fall killed the project, valued at nearly $400 million.
Ketchikan Mayor Bob Weinstein said the 3.2-mile road now is ideal for road races and hunting, and possibly some commercial development. But with no bridge to serve it, that's probably about it.
Re: sweetpiece – #167
Your posts would be way more interesting if you would post a comparison of both of the candidates. Obama has said he doesn't accept money from oil companies. That is parsing words when, in fact, he HAS accepted donations from individual contributors at oil companies. We all know that since PACs are limited to $5k in donations, the way to donate above and beyond that is through individual contributions. Or, just make it known that you won't take PAC money but you will take individual contributions. Lol. It is a GAME and your guy plays it.
Don't you all get the point?! Stop talking about Republicans and Democrats! That's not important right now. I think some of you don't realize what's going on and HOW troubled the USA are.
What do you think where all the money will come from? No one wants to invest in the USA anymore. Money has been drawn out of the country in large amounts during the last months. USA's debt is already tremendously high, as a matter of fact way too high to be able to become or be a member of the EU, if desired. It's not about tax money, there are two opportunities: 1. issue government bonds. To get investors interested in government bonds of the USA during these times, the interest rate has to be high(er)… but that's gonna cost you even more. Second opportunity: print money = inflation (=already high) will go through the roof and the USD (=already weak) will be devalued more and more until it is close to worthless…
Next problem: The S&P-rating of the USA, currently AAA… maybe this has to be changed soon due to the bad conditions the USA are in economically, leading to even higher interests for government bonds -> higher costs -> more debt -> inflation -> currency devaluation etc.
Either way: You are financially screwed for several years (decades?) to come.
Re: Smirks – Funny how calling their candidate a Commie doesn't bother them? Seems to go over their heads.
We're in such debt because this horrible Iraq/Afgan War is costing so much. Bush and Cheney and evidentally the Bush administration has absolutely no concept of what it's like to be mindful of finances — in La La land. Bernanke seems to be a pretty bad fortune teller as the National Treasurer so far, too. If you don't vote for Obama we're going to just get more of the same with this. Our tax money is bailing out our own economy as well as the Europeans and Asians –$700 billion. That's in addition to the $1 trillion debt this war is costing us.
Of course Obama can't live up to ALL of the promises he says, but he can steer us in the direction again, financially and morally. Having affordable health care and college wouldn't be so bad either.
yeah, we did tell them so!
Don't you all get the point?! Stop talking about Republicans and Democrats! That's not important right now. I think some of you don't realize what's going on and HOW troubled the USA are.
What do you think where all the money will come from? No one wants to invest in the USA anymore. Money has been drawn out of the country in large amounts during the last months. USA's debt is already tremendously high, as a matter of fact way too high to be able to become or be a member of the EU, if desired. It's not about tax money, there are two opportunities: 1. issue government bonds. To get investors interested in government bonds of the USA during these times, the interest rate has to be high(er)… but that's gonna cost you even more. Second opportunity: print money = inflation (=already high) will go through the roof and the USD (=already weak) will be devalued more and more until it is close to worthless…
Next problem: The S&P-rating of the USA, currently AAA… maybe this has to be changed soon due to the bad conditions the USA are in economically, leading to even higher interests for government bonds -> higher costs -> more debt -> inflation -> currency devaluation etc.
Either way: You are financially screwed for several years (decades?) to come…
Its pathetic what the Dems think they blame everything on the Republicans. The congress wich the majority is dem has a 9% approval rating lower than George W. Bush.
Oh, and btw… the 700 BILLION are nothing compared to the 10 TRILLION in debt that the USA are already in PLUS the 7-8 TRILLION of outstandings from the takeover of Fannie/Freddie.
Re: SquirrelLives – #181.
I think that's the case for the less intelligent. For the ones who maybe have done some homework, it's just something they can't deny so they ignore it. They're prolly Commies, too. lol.
Perez- once again you mis-judged your viewers.
We understand that
1. We have had no more terrorist attacks since 9/11.
2. Refer to #1.
What you fail to point out is that the Dems voted down McCain's proposal in 2005 to reform Wall Street. The Dems (led by kooky Pelosi) went on vacation at the height of the gas price trouble. In fact, when the Repubs stayed on the floor - this bitch shut off the lights and had all the press escorted out.
Marxism.
The American people are smarter than you think. We know that Nobama's financial advisors include the former CEO's of Freddie and Fannie. How is he gonna explain that? He can't.
He's a corrupt pol from Chicago - a city that does corruption best.
Wow- that's some change. Maybe we should at least vote for a president that knows how many states there are. Barry thinks there are 58 states.
Hmmm…is he counting Cuba, Venezuela, N. Korea, Russia, etc.
Barry is a hack fraud. That's why he won't debate McCain except for the required debates. His performance at Saddleback was a smash! For Repubs.
Why else would he take a tele-prompter to the rodeo? Because he's an empty suit with an empty head.
I'm from Texas and have been to many rodeo's. Never seen a teleprompter.
Re: Smirks – Post 187
That's my conclusion. They don't remember. They're too young.
WE"RE DOOOOOOMED!!!!!!!!!
all the dems want are more taxes on the rich. if you tax the rich and big companys alot then they will have to cut back costs meaning jobs. and for the rich shopping and investing which shoots our country in the foot. research the facts before saying what you say. yes george bush hasnt done too great but it could be worse. mccain has experiance to get us out of this hole. some of this is left from the clintons too.
Re: evw93 – Sorry, but you're on the wrong track (taxes) and it couldn't be worse. Please, what are you talking about? HOW could it be worse? LOOOL. That's delusional… face the facts.
EVW93
You get it! Cool! Don't let little minds get in your way.
You know…it is against the constitution to be bailing these people out. If they bail them out, when my company is in trouble or any other company is in trouble the government should bail them out. Where were they when Kmart filed a chapter 11? Why didn't they bail them out. Theis country is going down hill. Hard times are coming people. You watch and see.
What about the little people losing their homes? Any help there?
Dear Sheba08 -
That's what fueled the whole meltdown on Wall Street. To put it simple terms - financial institutions backed mortgages that the homeowner couldn't afford. They banked on the fact that property values would continue their increase.
Now - we have a bunch of people that can't afford their homes. It's sad on all fronts. I'm not judging anyone - who am I?
Hey Ubergeist -
One can only guess you German. Wow! The German economy has tanked so much that you're over here studying for a degree.
Until you finally explain why you feel the way you do, then step off. We don't need or want foreignor's telling us what to do. You people come over here to get your education - WHY? Because it means alot.
Then, you bash our country. Fool. May the Bluebird of Happiness crap on your birthday cake.
Re: SquirrelLives – Or maybe we just ignore little bigots like you
Re: maryc –
Squirrel is perhaps the least bigoted person I have seen on these posts. If you can't prevail using facts, namecall. Good strategy!!
It's brilliant that you are covering this here Perez, just brilliant. I guess corporations are the biggest "welfare queens" of all. LOLOLOLOL. I don't want to hear anymore bitching about us wanting nationalized health care, if we can afford this bailout and $250 million a month every month in Iraq, I want my free pap smear, dammit.
Here's the deal: we will all agree to the $700 BILLION dollar bank - corporate - corruption - deregulated self- interest bailout IF the Republican party simply disappears off the face of the Earth entirely.
Agreed?
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Is that George?…..or his clone? It looks airbrushed and like the clone/bodydouble I met at the white house last year.
SOOOOOOOOOO UNFAIR that people are losing their houses, yet the very companies that scammed them and ripped them off are getting "bailed out"