And the bail out goes right in to the toilet

[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.