$700 Billion Bailout
09-25-2008, 03:23 PM
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$700 Billion Bailout
What do you all think of that bailout? I'm against it. They say that there would be a depression or a recession if we don't bail out wall street, but I don't believe it.
They say that credit is freezing up and credit is crucial for the nation's economy, but I'm skeptical of that. If we have to, I think we can pretty much get along without credit. People could rent instead of buying homes. That wouldn't be a disaster. People could make do with used cars instead of buying new ones. People could go to community college & state college instead of taking loans for expensive private colleges. People could buy with cash instead of credit, thus living within their means. I think credit is crucial for the big companies whose business it is to loan money, but not so crucial for individuals. I think without credit, people would actually spend their money much more wisely and live within their means. I think a lack of credit would mainly hurt the predatory lenders who prey on debtors. Perhaps the bailout is so that these predators can keep taking advantage of the public.
I really don't see what would be so terrible or disasterous about not bailing out wall street. The situation is not the same as what happened to cause the Great Depression. I think the situation back then was much worse and there was no protection for anyone's money. I think they are trying to scare us into bailing out a bunch of rich wall street people after they messed things up by being
overly greedy and making a lot of risky loans. They get the ill-gotten profits and try to stick us with the bills and the problems.
I don't trust Paulson, Bernanke, and Bush. I think they are just trying to help their rich friends, the people who helped put them in their offices. I heard that Paulson has been wrong about everything he said in the past. Now we're supposed to trust his recommendations? I don't think so. I think we should wait until something bad actually happens and then fix it. I don't think we should spend $700 billion that we don't really know if we have to spend. Lets wait until there is proof that we have to spend more money on bailouts. Also I think we should look for alternatives to bailing out wallstreet. There could be much better and cheaper ways to deal with this problem.
I had nothing whatsoever to do with the mortgage mess and I shouldn't have to pay to clean it up. My tax money shouldn't go to help out the wall street criminals that did this, or the deadbeats who can't pay their mortgage because they bought a home they couldn't really afford. Let them lose their homes and pay rent instead. I'm not responsible for them having homes.
They say that credit is freezing up and credit is crucial for the nation's economy, but I'm skeptical of that. If we have to, I think we can pretty much get along without credit. People could rent instead of buying homes. That wouldn't be a disaster. People could make do with used cars instead of buying new ones. People could go to community college & state college instead of taking loans for expensive private colleges. People could buy with cash instead of credit, thus living within their means. I think credit is crucial for the big companies whose business it is to loan money, but not so crucial for individuals. I think without credit, people would actually spend their money much more wisely and live within their means. I think a lack of credit would mainly hurt the predatory lenders who prey on debtors. Perhaps the bailout is so that these predators can keep taking advantage of the public.
I really don't see what would be so terrible or disasterous about not bailing out wall street. The situation is not the same as what happened to cause the Great Depression. I think the situation back then was much worse and there was no protection for anyone's money. I think they are trying to scare us into bailing out a bunch of rich wall street people after they messed things up by being
overly greedy and making a lot of risky loans. They get the ill-gotten profits and try to stick us with the bills and the problems.
I don't trust Paulson, Bernanke, and Bush. I think they are just trying to help their rich friends, the people who helped put them in their offices. I heard that Paulson has been wrong about everything he said in the past. Now we're supposed to trust his recommendations? I don't think so. I think we should wait until something bad actually happens and then fix it. I don't think we should spend $700 billion that we don't really know if we have to spend. Lets wait until there is proof that we have to spend more money on bailouts. Also I think we should look for alternatives to bailing out wallstreet. There could be much better and cheaper ways to deal with this problem.
I had nothing whatsoever to do with the mortgage mess and I shouldn't have to pay to clean it up. My tax money shouldn't go to help out the wall street criminals that did this, or the deadbeats who can't pay their mortgage because they bought a home they couldn't really afford. Let them lose their homes and pay rent instead. I'm not responsible for them having homes.
09-25-2008, 04:37 PM
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RE: $700 Billion Bailout
Tough one...I would say let them lose it and start over....
People that invest in stocks need to learn a lesson.
The people in charge should be stripped of their wealth big time.
Maybe jail time for some.
People that invest in stocks need to learn a lesson.
The people in charge should be stripped of their wealth big time.
Maybe jail time for some.
09-25-2008, 07:17 PM
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RE: $700 Billion Bailout
No, why should the American tax payer help the crooks who created this mess? If you want to spend that kind of tax payer dollars how about, free child care for working families, or health care, or social security, fixing the terrible roads and bridges all across this nation, investing in oil development in the north west so we can stop depending on the middle east, etc, etc etc.....
09-25-2008, 08:04 PM
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RE: $700 Billion Bailout
WOW... just came across this. Washington Mutual based in Seattle is a banking icon around here... or at least it was...
http://news.yahoo.com/s/nm/20080926/..._jpmorgan_news