Discussion in 'Economy' started by NOBama, Nov 24, 2008.
It stuns me that a couple of months ago they were trying to buy Wachovia.
It's absolutely unreal. I was on the verge of a headache after reading that article. Actually, I'm still trying to digest it.
Yet another fine company in need of a taxpayer bailout. Thank you Neoconservative President Bush and the Democrat-controlled Congress (including Obama)!
unbelieveable! and then Paulson gives them 20 billion in cash PLUS and additional 306 billion loan for their toxic assets....??????
Is this OVER and above the 700 billion we gave paulson?????
My head is spinning.....i'm with you on this nobama...
And the 20 billion for the big 3 is still a "no"?
I truely do NOT understand why we keep bailing out these people on wall street and NOT the people on MAIN STREET?
NONE of these bail outs are working....WOW, what an incredible thing to do to us tax payers.... if there ever was a time to CURSE it is now.... bastards!!!!!!
Not only are these bailouts not working, they're making the problem worse.
The Bailout Reader - Mises.org - Mises Institute
you know, if they had taken this money and lowered ALL homeowners interest on their mortgage payments....from whatever...from 6% to 3% or from an adjustable to a firm 5% then NO ONE or hardly anyone would default on their homes, and the rest of the homeowners who were in good standing would get a 50% reduction on their mortgage payment of which they could USE this extra money to buy a car or truck or even save it, this would have helped the whole situation and be a stimulus to our econonmy at the same time....like a tax cut....
Now granted, that would not have helped me that much, because we own our home outright and have no mortgage....so my hubby and I will have no more money in our pockets to spend....however, it will help us minutely by houses not losing as much value as they have in this mess....
I just do not understand why we keep giving these irresponsible baqnks and financial institutions and insurance companies with our TAX MONIES without requesting ANYTHING from these bozos THAT WILL ACTUALLY HELP US.
I HATE PAULSON AT THIS POINT....with a passion....(may God for give me for this hate )
What we needed to do was nothing. We need to let the correction happen as it naturally would, rather than try to prop up bad businesses.
well, i don't disagree with that, i was vehemently against the wall street 1 trillion dollar bailout FROM the BEGINNING....
I am just trying to figure out how it would have been better used SINCE it was USED.
Come on now, folks.
A year ago, most of you assumed that the CEOs of these banks were genuises who deserved their enormous salaries because they were the captains of industries.
A year ago many of you were whining on their behalf about how unfair it was that they had to pay a higher rate of taxes than working people.
Where is your blind faith in the the people who control the market to get it right, now?
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