Bailout bonanza

[DavidS]

The following is a list of government bailouts made this year from the government:

• $25 billion emergency aid to auto companies
• $29 billion to help JP Morgan buy Bear Sterns
• $37.8 billion 10/9/08 AIG
• $40 billion 11/10/08 AIG
• $85 billion to keep AIG in business
• $102 billion in FHA loans to distressed homeowners
• $152 billion 2008 economic stimulus act
• $200 billion to shore up Fannie Mae and Freddie Mac
• $400 billion emergency credit line to banks
• $750 billion bailout bill

Total price tag:

$1.8 trillion

Pending bailouts: Auto companies - $50 billion, economic stimulus package of 2009: $150 billion. Chances of unemployment reaching 10%? Pretty damn good. Chances of recovering your entire 401k? Zero.

 

[Kevin_Kennedy]

FindLaw: Cases and Codes: U.S. Constitution

Just so we're clear that these bailouts are unconstitutional.

 

[DavidS]

FindLaw: Cases and Codes: U.S. Constitution

Just so we're clear that these bailouts are unconstitutional.

Oh, come on. The time to complain about Bush's disregard for that old piece of paper was years ago when they were constructing the Patriot Act. Bush and the United States constitution is about as big of an oxymoron as a compassionate conservative.

 

[Kevin_Kennedy]

Oh, come on. The time to complain about Bush's disregard for that old piece of paper was years ago when they were constructing the Patriot Act. Bush and the United States constitution is about as big of an oxymoron as a compassionate conservative.

Not complaining about Bush's disregard for the Constitution, but the federal government's as a whole. And that "old piece of paper" is the only safeguard we have to our liberties, so feel free to continue to mock it.

Though I love how you automatically think Bush, when Obama also contributed to the circumvention of the Constitution. I believe they both took oaths to uphold and defend it, guess that's just for show.

 

[DavidS]

Not complaining about Bush's disregard for the Constitution, but the federal government's as a whole. And that "old piece of paper" is the only safeguard we have to our liberties, so feel free to continue to mock it.

Though I love how you automatically think Bush, when Obama also contributed to the circumvention of the Constitution. I believe they both took oaths to uphold and defend it, guess that's just for show.

How has Obama done anything against the constitution? I thought he had no experience??

You guys can't make up your mind.

 

[Kevin_Kennedy]

How has Obama done anything against the constitution? I thought he had no experience??

You guys can't make up your mind.

Collectivist thinking doesn't make you look intelligent. Find where I said Obama has "no experience." In fact, find one instance where I've had anything negative to say about Obama that didn't pertain to the issues.

How has he gone against the Constitution? By voting for the unconstitutional bailout bill.

 

[user_name_guest]

The following is a list of government bailouts made this year from the government:

• $25 billion emergency aid to auto companies
• $29 billion to help JP Morgan buy Bear Sterns
• $37.8 billion 10/9/08 AIG
• $40 billion 11/10/08 AIG
• $85 billion to keep AIG in business
• $102 billion in FHA loans to distressed homeowners
• $152 billion 2008 economic stimulus act
• $200 billion to shore up Fannie Mae and Freddie Mac
• $400 billion emergency credit line to banks
• $750 billion bailout bill

Total price tag:

$1.8 trillion

Pending bailouts: Auto companies - $50 billion, economic stimulus package of 2009: $150 billion. Chances of unemployment reaching 10%? Pretty damn good. Chances of recovering your entire 401k? Zero.

$1.8 trillion in debt. I wonder if the President-Elect didn't vote for those acts above.

 

[Zoom-boing]

Not complaining about Bush's disregard for the Constitution, but the federal government's as a whole. And that "old piece of paper" is the only safeguard we have to our liberties, so feel free to continue to mock it.

Though I love how you automatically think Bush, when Obama also contributed to the circumvention of the Constitution. I believe they both took oaths to uphold and defend it, guess that's just for show.

I could not agree more. They have screwed us royally in the name of 'helping'. Oh please. Here's a few more ways they are sticking it to us:

"New Plan To Bail Out Credit Card Debt: Is It Fair for America?

Tracy Byrnes: This is socialism at it's best. You got into a bad mortgage. Maybe I could justify that but when I spend money on a pair of shoes and run my credit card that is my problem, my bill. Not the government's problem to help me pay for shoes I can't afford.

Wayne Rogers: It is an outrageous idea with one exception and that is my wife. I hope they bail her out.

Jonas Max Ferris: Well, there is so much I don't understand about this. First of all I don't think the credit card companies are any better than the home lenders. The home lenders were not that crooked. The credit card companies are a little more crook and confusing. When after you home loan you don't get a letter that had he adds new default rate if you miss a bill. It is much more straightforward than that in home lending. I don't think the bailout is they are going to give tax liability if they write off the debt."

Rest of article (it's the last entry on the page):

FOXNews.com - Recap of Saturday, November 8 - The Cost of Freedom


"WASHINGTON — Some of the nation's biggest banks are in for a windfall -- on top of the $700 billion government bailout -- thanks to a new tax policy quietly issued by the Treasury Department.

The notice gives big tax breaks to companies that acquire struggling banks hit hard by the mortgage crisis. In some cases, the tax breaks could exceed the cost of acquiring the banks, according to analyses by private tax experts.

The change could cost the Treasury as much as $140 billion by enabling firms that acquire struggling banks to use more losses incurred by those banks to offset their own taxable profits."

Rest of Article:

FOXNews.com - Treasury Gives Tax Breaks to Banks Atop Bailout Money - Politics | Republican Party | Democratic Party | Political Spectrum


Maybe we can amend the Constitution so it reads "all members of Congress who screw the citizens royally can and will be fired". This is beyond ridiculous.

 

[Toro]

America is trying to become Japan 2.0.

 

[GigiBowman]

How has Obama done anything against the constitution? I thought he had no experience??

You guys can't make up your mind.

Obama voted YES to the bailout

 

[dilloduck]

America is trying to become Japan 2.0.

Exactly who in America is driving us to become 2.0 ? Isn't it about time we name some names here instead of just using general terms like " America " or "the administration" ?

 

[editec]

They're bankrupting the nation folks.

That's the plan and it's happening while we are squabbling about crap like abortions, gun control and homos, liberals and conservatives.

All the evidence is there for you to see in the PUBLIC RECORDS.

This is not a series of unfortunate mistakes this is a well thought out long term goal to end governance by nation states and begin the reign of international business cartels.

 

[dilloduck]

They're bankrupting the nation folks.

That's the plan and it's happening while we are squabbling about crap like abortions, gun control and homos, liberals and conservatives.

All the evidence is there for you to see in the PUBLIC RECORDS.

This is not a series of unfortunate mistakes this is a well thought out long term goal to end governance by nation states and begin the reign of international business cartels.

Who is they ?-------exactly ??

 

[Toro]

Exactly who in America is driving us to become 2.0 ? Isn't it about time we name some names here instead of just using general terms like " America " or "the administration" ?

The people in power who are creating and administering the bailout plans.

 

[Paulie]

How has Obama done anything against the constitution? I thought he had no experience??

You guys can't make up your mind.

What does having limited experience have to do with governing unconstitutionally or not?

The guy voted for 700 billion dollars to be handed out freely among failing businesses, a lot of which is being used to give bonuses to execs and pay stock dividends.

It doesn't get much more unconstitutional than that, and it doesn't take an experienced, seasoned member of congress to vote YES on it.

 

[JoeConspiracy79]

$700 bailout for big business thanks to Bush Paulson and their cronies, which Obama I'm sure is in it to, but they are only puppets. I heard on the Alex Jones show that some members of Congress said the higher ups threaten martial law if they didn't pass it. Yet the poor gets nothing while the crooks stay in business. Soon it will be hell and a hand basket as Alex Jones would say when the bailout kicks in and we will have super inflation and our dollar will continue to be devalued. But they say Obama will save us. I don't think so.

 

[Kid Pickle]

Next stop, Weimar Republic!
Woo-Hoo!
A wheelbarrow full of cash to get a gallon of milk!
Thank goodness for electronic currency.