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Bailout (rescue) plan for the economy

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Topic: Bailout (rescue) plan for the economy
Posted By: Zitro
Subject: Bailout (rescue) plan for the economy
Date Posted: October 01 2008 at 14:47
For the current economy crisis, do you support the (at least) $700 Billion dollar rescue plan?

 



Replies:
Posted By: TGM: Orb
Date Posted: October 01 2008 at 15:30
Support. I think that without it, everyone loses, the consumers as much as the banks.

I'm not American, but I'd support a similar resolution here.


Posted By: rileydog22
Date Posted: October 01 2008 at 16:19
I coulda sworn the US was capitalist.....


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Posted By: The Doctor
Date Posted: October 01 2008 at 16:27
I definitely support Congress giving me $700 billion of taxpayer money. I'll stimulate the economy with that money, as well as a few other things. Wink
 
Otherwise I oppose it.  Strongly.  Why should we not only not hold the robber barons accountable, but actually reward them with public funds for screwing the public? 


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I can understand your anger at me, but what did the horse I rode in on ever do to you?


Posted By: micky
Date Posted: October 01 2008 at 16:40
was at first for.... but the more I read..  and listen... and think...have turned against the idea.  In fact.. wonder now why I did. In fact writing my congressman and giving my opinion and why....

which is.....

All it was one giant ass bandage.... which may... or MAY NOT have stopped the hemorrhaging... for it wouldn't have solved the fundamental problems....  time to let the weak die off.. ...  the tipping point for me.. learning the credit freeze (which is the real problem affecting common Americans... and my job in particular... no credit... no orders.. no work.. and unlike the failed GOP economic ideology.. that sh*t DOES trickle down) is only because people don't want to sell off the bad debt to private investors at .20 cents on the dollar when they expect the gov't to swoop in and pay .70 to .80 cents on the dollar.


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The Pedro and Micky Experience - When one no longer requires psychotropics to trip


Posted By: BaldJean
Date Posted: October 01 2008 at 16:48
the banks believe in capitalism and free market; it is the rules they like to play by when they win. they have ruined many people's business and fortune that way, cynically saying "well, that's capitalism". and they would strongly oppose any supportive action for other firms. so let them play by these rules when they lose too

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A shot of me as High Priestess of Gaia during our fall festival. Ceterum censeo principiis obsta


Posted By: IVNORD
Date Posted: October 01 2008 at 20:01
It must be noted that none of us knows all the details of the proposed bailout. Neither did anyone hear from experts and specialists on the potential consequences and available options. How can one make a reasonable determination regarding a subject he or she knows about only from newspaper headlines?


Posted By: BaldJean
Date Posted: October 01 2008 at 20:16
it's the principle of the thing. nobody will bail Joe Average out, but those people who will still live in luxury after having wasted the money of their customers with their speculation games shall get the favor? no thanks. in my opinion they should get 20 years in Folsom for fraudulence


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A shot of me as High Priestess of Gaia during our fall festival. Ceterum censeo principiis obsta


Posted By: darkshade
Date Posted: October 01 2008 at 20:35
i do not support. let the people who f*cked up face the consequences

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http://www.last.fm/user/MysticBoogy" rel="nofollow - My Last.fm


Posted By: debrewguy
Date Posted: October 01 2008 at 20:45
IS there any reason why the government cannot take time to think over a reasonable reaction, rather than rushing to the rescue of self serving multi-millionaires with $700 billion of the middle class's money ?
Yes. It's called knee jerk reaction. It's called "we gotta do something so that it looks like we're doing something, no matter what doing, 'cause doing nothing will look like we're doing nothing, even if nothing can be done. Or the best thing that could be done ...


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"Here I am talking to some of the smartest people in the world and I didn't even notice,Ē Lieutenant Columbo, episode The Bye-Bye Sky-High I.Q. Murder Case.


Posted By: fusionfreak
Date Posted: October 02 2008 at 09:26
I'm unsure but certainly not indifferent:people who failed and still earn ridiculous wages should be punished,that's a fact and I think,for I'm a leftist, that ultracapitalism sucks!Look at what 30 years of
unruled economy have done to the world:destruction,evergrowing inequalities,rebirth of far right wing movements,anger,hunger,terrorism,too bad!I would actually agree with the plan if everybody united for
a fair world!Say no to golden parachutes!I hope many american people will get better rapidly:each human
being has the right to live,feel,learn,eat,love and enjoy life! 


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I was born in the land of Mahavishnu,not so far from Kobaia.I'm looking for the world

of searchers with the help from

crimson king


Posted By: rushfan4
Date Posted: October 02 2008 at 09:57
Originally posted by IVNORD IVNORD wrote:

It must be noted that none of us knows all the details of the proposed bailout. Neither did anyone hear from experts and specialists on the potential consequences and available options. How can one make a reasonable determination regarding a subject he or she knows about only from newspaper headlines?
 
I actually kind of have to agree with this comment.  I haven't fully made up my mind yet. 
 
Depending on which pundit you listen to this either really, really needs to be done, or it is the worse thing that they could possibly do.  Is it a solution?  Is it a band-aid on a severed limb?  Would the money be better spent giving it directly to businesses that need it so that they can trickle it down?  Would the money be better spent giving it to people that need it so that they can spend it and it can trickle up?  Will any of it make a difference anyways?  Is Congress really smart enough to come up with a viable solution?  Should we really believe a lame duck president and administration that is arguably the worst in the history of this country?  Is Congress really going to try and do what is best for the people, or are they just participating in political posturing so that they can retain their jobs in the upcoming election? 
 
I tend to be pretty sceptical when it comes to the intelligence of those that govern us, so I truly am left wondering which course of action is the right course of action.


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Posted By: BroSpence
Date Posted: October 03 2008 at 02:34
I strongly oppose it and have told my Senators and Representatives, and other key members of Congress so.

However, none of them agree with me based on how they voted.




Posted By: aapatsos
Date Posted: October 05 2008 at 17:57
even if I'm not in the US, I strongly oppose as this $700 billion could be used to feed all the poor people in the States or in Africa, or anywhere else... realistically, this could be done if everyone had the willingness to do it. It's the same as with money spent in Iraq, wasted money...


Posted By: fusionfreak
Date Posted: October 06 2008 at 05:04
Approve what you say,unfortunately there is too much realpolitik:oil,money,power and strength are more valuable than human beings for People in power.Moreover governments are too much influenced
by big industries and greedy lobbies.These people should listen to prog,psych,fusion or krautrock!!!


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I was born in the land of Mahavishnu,not so far from Kobaia.I'm looking for the world

of searchers with the help from

crimson king


Posted By: Henry Plainview
Date Posted: October 06 2008 at 12:34
The hilarious thing about this is that most economists support it (such as The Economist), and is the action being taken by rich countries around the world, while it is widely unpopular. I suspect that is because people don't understand it. Which is not to say that one cannot have an informed opinion against it.

It's not a handout to the CEOs, why is everyone treating it that way? The government is buying bad debt, this has nothing to do with CEO compensation, and most of them are losing their jobs because of this, and the bill has several provisions limiting their "golden parachute". This is to rescue the economy from a depression so you don't lose your job and your pension. The fact is the credit markets are so clogged nobody can get a loan, which is a problem.

It's not ideal, but it's what has to be done. People whining endlessly about "Bail out Main Street not Wall Street!" are missing the point.

Feeding Africans is nice, but keeping the world economy from collapsing is better (if the US goes down, so does everyone else), and it would he hard to justify such a monumental cost for anything besides self-preservation.

Hahaha, fusionfreak, you're such a hippy. Sorry, music can't change the world.

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if you own a sodastream i hate you


Posted By: Equality 7-2521
Date Posted: October 06 2008 at 19:50
Strongly oppose,

Commonsense, Austrian economics, morality, and the Constitution for the win.


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"One had to be a Newton to notice that the moon is falling, when everyone sees that it doesn't fall. "


Posted By: Slartibartfast
Date Posted: October 06 2008 at 20:49

TMW09-24-08orig_image.jpg



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Released date are often when it it impacted you but recorded dates are when it really happened...



Posted By: npjnpj
Date Posted: October 07 2008 at 05:22

After receiving the bailout, banks will surely turn to a new gigant profit-making future: Transfer to worldwide investment in high fossil-fuel consumption and high-polution industrial technologies perhaps?

After all, the internet and high-risk loans have been done.
 
Apart from that it looks at this time as if those Billions are being pissed into the wind. Nice try though, better luck next time, boys.
 
And the lucky public are going to own a number of banks that nobody else wants. Happy us, ain't life grand!


Posted By: fusionfreak
Date Posted: October 07 2008 at 16:21
Originally posted by Henry Plainview Henry Plainview wrote:

The hilarious thing about this is that most economists support it (such as The Economist), and is the action being taken by rich countries around the world, while it is widely unpopular. I suspect that is because people don't understand it. Which is not to say that one cannot have an informed opinion against it.

It's not a handout to the CEOs, why is everyone treating it that way? The government is buying bad debt, this has nothing to do with CEO compensation, and most of them are losing their jobs because of this, and the bill has several provisions limiting their "golden parachute". This is to rescue the economy from a depression so you don't lose your job and your pension. The fact is the credit markets are so clogged nobody can get a loan, which is a problem.

It's not ideal, but it's what has to be done. People whining endlessly about "Bail out Main Street not Wall Street!" are missing the point.

Feeding Africans is nice, but keeping the world economy from collapsing is better (if the US goes down, so does everyone else), and it would he hard to justify such a monumental cost for anything besides self-preservation.

Hahaha, fusionfreak, you're such a hippy. Sorry, music can't change the world.
Of course I am,Henry Plainview.I also know Music can't change the world and perfectly understand your point of view.
I just would like to see a fair world since it's possible.Moreover,do you think a man who failed deserves
being paid millions?Have good music!


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I was born in the land of Mahavishnu,not so far from Kobaia.I'm looking for the world

of searchers with the help from

crimson king


Posted By: Slartibartfast
Date Posted: October 09 2008 at 20:38

GOPís latest ugly fable
 by Gene Lyons

  http://www.nwanews.com/adg/Editorial/239622 - Link

 Excerpt;
Now come GOP apologists to identify the real perps of the Wall Street meltdown: Jimmy Carter, 
Bill Clinton, feckless black folks, Mexican Americans and U. S. Rep. Barney Frank, whoís evidently 
been covertly running Wall Street all this time.

See, while you fretted over Bush screwups in Iraq, Afghanistan and New Orleans, a sinister, dusky 
cabal built a speculative bubble in ghetto real estate. Overpriced luxury condos were constructed with 
borrowed money in fashionable Harlem, Watts and the south side of Chicago; also, downtown Atlanta, 
Newark, St. Louis, Detroit, Memphis and Philadelphia. In Monopoly terms, the entire U. S. economy 
drained into a black hole of defaulted loans on Baltic and Mediterranean.

So how come you havenít heard this before ? Maybe because you donít spend enough time watching 
FOX News or listening to GOP talk radio. In those precincts, the real cause of the national (and world ) 
financial debacle turns out to be an obscure 1977 law known as the Community Reinvestment Act, or CRA."


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Released date are often when it it impacted you but recorded dates are when it really happened...




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