And the bail out goes right in to the toilet

[Marigold2]

I still cannot believe the American people were dumb enough to vote for Bush twice.

[Catlady711]

What I don't understand is how they think pouring all that money into bad debts is gonna solve? From one guy I heard on tv he said it's so people could continue to get credit. Well isn't credit what got everyone into this mess? What's wrong with good old CASH!!!

As it is our own government is living on credit, and the FDIC is talking about borrowing against the treasury which is just more credit.

Stop the madness!

I hope they don't pass the money pit bill ever for any amount of money.

[Edwina's Secretary]

What I don't understand is how they think pouring all that money into bad debts is gonna solve? From one guy I heard on tv he said it's so people could continue to get credit. Well isn't credit what got everyone into this mess? What's wrong with good old CASH!!!

As it is our own government is living on credit, and the FDIC is talking about borrowing against the treasury which is just more credit.

Stop the madness!

I hope they don't pass the money pit bill ever for any amount of money.

It is not that simple. Businesses need credit. Take retail for example. They borrow the money to buy the merchandise and then pay back the credit as they sell the merchandise. A manufacturer needs to invest in new equipment. They need to be able to borrow the money.

I don't know many people who can pay cash for a home. Most people take out a mortgage. That is credit.

An absence of credit means businesses cannot operate and people get laid off.

It is careless use of credit...careless granting of credit -- among many, many other things -- that created this mess.

[Lady's Human]

Gruss Gott in Himmel!!!!!

Sara makes a post I agree with!!!

(Hello, Macy's? Yeah, it's Satan. I'm looking for some skis and a nice, down filled Parka?)

Also, the bail out bill as originally written, while flawed (lack of oversight in the original bill), stood to not cost the US Treasury money, but actually could have made quite a bit in the long term.

"700 Billion Bailout" is a misnomer, and it just reinforces my hatred for the crap that passes for reporting in the mass media.

[Edwina's Secretary]

"700 Billion Bailout" is a misnomer, and it just reinforces my hatred for the crap that passes for reporting in the mass media.

Cop out -- blaming it on the media. The media gives the people what they want. Simple pithy reporting. Quick snapshot. Most people aren't looking for indepth analysis and wouldn't read it anyway. Did the media coin the phrase or just report it?

So what would you call it? That fits in a headline.

[Lady's Human]

It's not a bailout, it's more of a loan guarantee package, but bailout is a nice, juicy headline.

Heck, it's not even a $700 Billion package, that's the possible maximum amount under the package that might be put into play.

I know the media gives the people what they want, but the press needs to bear a little responsibility to go with the obvious power they have.

[Lady's Human]

BTW, Sara, it's not a cop out.

The headline CNN, Fox, and others have been reporting bears no resemblance to the actual meat of the story. At least TRY to make it accurate, guys.

[ramanth]

Thank you Sara for explaining it in terms I understand. My knowledge of stocks and such is so poor.

All I know is that my employer uses AIG for our 403b's. I'm not sure if I should just ride this out (since I'm young) or take all my money out and reinvest later.

[RICHARD]

Gruss Gott in Himmel!!!!!

Sara makes a post I agree with!!!

(Hello, Macy's? Yeah, it's Satan. I'm looking for some skis and a nice, down filled Parka?)

OH, NO!

Don't go to Macy's to buy your cold weather clothes! Try EMS or North Face brands!

FOR YOUR CONSIDERATION!
During the CLINTON admin -around 1999- is when this whole bunch of A-holery started. Check it out! Under BC's watch this whole "let them eat adjustble rates" CF started.

[Puckstop31]

I still cannot believe the American people were dumb enough to vote for Bush twice.

I cannot believe you think this is his fault, all on his own.

I am NO fan of him, but you clearly have no idea how this came to be.

Not surprising, BTW.

Remember dear, CONGRESS spends the money.

[blue]

Remember dear, CONGRESS spends the money.

Quoted for troof!

[jennielynn1970]

I cannot believe you think this is his fault, all on his own.

I am NO fan of him, but you clearly have no idea how this came to be.

Not surprising, BTW.

Remember dear, CONGRESS spends the money.

Bush is just a puppet. I doubt he could even put together a sentence about this topic that would make sense (where he would have no help from his tutors due to his IEP that he was given since NCLB was put into place).

Sorry, but GW rode the short bus to school.

[Puckstop31]

Bush is just a puppet. I doubt he could even put together a sentence about this topic that would make sense (where he would have no help from his tutors due to his IEP that he was given since NCLB was put into place).

Sorry, but GW rode the short bus to school.

I know... Why are you telling me this? I am certainly not defending him, but he had little to do with this. He did not help, but he (his policies) are not the root cause.

[Puckstop31]

We could argue about "why" all day. But lets talk about a "fix".

Does anybody honestly wonder WHY it failed yesterday? One would think that Democrats would be all over something like this. Yet Pelosi goes and makes a partisan speech right before the vote. Is she a) that stupid or b) did she WANT it to fail? If so, why?


Some pundits say that the people who voted NAY are the people who are in competitive races. Did they ACTUALLY listen to the people?

Should we just let it play out and fail? The more I learn, the more I think it SHOULD fail.

[Edwina's Secretary]

Well I think it is the fault of Benjamin Pierce! Why stop at Carter? According to the right wing rag that is a newspaper here in OC it is the fault of every democrat who ever drew breath.

Anyone who has been in a position to create the mess or fail to enact measure to stop it gets a piece of the pie.

Done.

Now let's try and fix it. And no more Newt Gingrich girlie-girl tactics. (Remember when his feelings were hurt because he had to use the rear entrance on the president's jet so he caused the furlough of non-essential government workers?) "Hurt feelings" strike me as rather irrelevant at a time like this.