Comments on: Why the Bailout Plan Failed

By: green hornet

green hornet — Sat, 04 Oct 2008 01:15:57 +0000

what did you expect when Goldman&Sachs is the leading contributor to both Obama and Mccain’s campaigns.this dual party system is a load of crap bought and paid for by the “kosher” New York banksters and championed by a corrupt deceitful marxist media.vote independent!!!

By: Jody

Jody — Fri, 03 Oct 2008 19:02:40 +0000

I'm hopeful proposal, now passed, will do some good. They have to do something. But in the meantime, I found a hilarious song about it called "Bailout Man" to lighten a grim subject: Bail out song

By: Freedom is just another word...

Freedom is just another word... — Fri, 03 Oct 2008 17:48:46 +0000

Wayne,

He who has the gold makes the rules. The Golden Rule.

By: green hornet

green hornet — Fri, 03 Oct 2008 06:49:56 +0000

looks like bill o’reilly just ripped good old barney frank a new one and this time barney probably didn’t enjoy having it ripped.never really thought much of bill, but i got to give him props he had “queenie”barney stuttering and stammering like a caught rat.let’s keep exposing these parasitical creeps

By: wayne

wayne — Thu, 02 Oct 2008 21:49:23 +0000

Bush is up against a wall. Our creditors (the Chinese, the Saudis, the Japanese, etc) have told him he has a few days to stabilize this situation by throwing money to cover their investment or else they will dump everything (stocks, bonds, dollars) on the market rendering our economy bankrupt (no buying oil, no imports/exports, complete cut off business with the world).

That is what is causing this “bailout” rush. No matter the cost, Bush has to rescue the market or they will toast us.

Bush won’t admit the threat because he knows that if “We The People” realize we are being held hostage by foreigners there will be a total popular uprising against any deal with the world by our people (and maybe against the government in general).

Congress won’t admit the threat because some of them are afraid of “We The People” revolting, but mostly they figure they can make out like bandits on earmarks for this trainwreck (and cover their butts for causing it to happen).

By: green hornet

green hornet — Thu, 02 Oct 2008 19:31:15 +0000

Bernanke,Greenspan,Frank,Cantor,Goldman&Sachs is it me or does this not smell “kosher” pun intended.Tell these wall street criminals and Wolf Blitzer to shove it!!

By: kabud

kabud — Thu, 02 Oct 2008 16:37:51 +0000

People don’t let you Congressmen allow the destruction of our Liberties!

By: Rubicon

Rubicon — Thu, 02 Oct 2008 16:01:39 +0000

It all still boils down to the Community Reinvestment Act (CRA) that loaned money to people who were clearly NOT qualified. Add to this relaxation of policies in the mid nineties, plus a system that “forced” banks to make loans or face fines & media exposure as racists, & what we got was a mountain of bad debt.
The “bailout” helps the financial industry calm itself down. Its help to consumers is minimal. The “pork” add-ons are despicable. Feeding activist organizations with funds when it was those very groups who pressured for the less than desirable lending practices.
This was all compounded by some politicians refusing to pass regulatory actions. Barney Frank was a main player as he told those seeking regulation, that scaremongering and forecasts of financial doom were only tactics to discriminate against those most in need!
In short, we have someone pushing for social engineering telling us to open our pocketbooks, even when logic dictates otherwise!

By: Paul from Florida

Paul from Florida — Thu, 02 Oct 2008 15:43:16 +0000

Houses serve two functions. The first is shelter, the second is squishy self esteem, dream functions.

The government has done everything possible to price out basic shelter. Excessive building codes, land regulation, paperwork, taxes, permits, all have restricted and priced up supply. Bad.

McCain, Obama, Congress have all stated that they will do what they can to ‘keep up’ prices.

Which of course means more taxes for Section-8, housing projects and such. More taxes to ‘assist’ people that took mortgages on overpriced/overcosted homes. So, we are all going to tax each other to support each other.

Yeah, that will keep working. We need to bring in another sucker to hold the bag, so to speak.

The second is that thinking everyone would get into the building industry and sell to each other, borrow, flip, securitize forever. Wrong.

Just for laughs, anyone care to guess what future problem will be created by today’s Congress’s ’solutions’?

By: Ex-fetus

Ex-fetus — Thu, 02 Oct 2008 15:23:07 +0000

What I find amusing is how Congress is planning on soaking the rich yet again by taking away their ‘golden parachutes’.
Socialist haven’t learned after geting hit on the head with it countless times that you CANNOT ’soak’ the rich. They just take THEIR money and hire somebody to put it where Congress cannot get at it.
All those golden parachutes are mostly made of stock options. So the Bail Out will make them rich anyway by propping up stock prices.
Instead of a golden parachute, they have golden whoopie cushions. Either way it’s a soft landing.
The Market is overdue for a crash and crash it will. The bail out won’t change that, especially since the bail out doesn’t address the issues that contributed to the crash. So the guys that got their golden parachutes pulled will land on their golden whoopie cushion and watch the crash while laughing at the poor suckers left holding the bag.
Then when this bail out doesn’t work, there will be another, then another.
Congress critters have a genius for getting elected. Beyond that, most of them give IQ points to a fence post.