700 Billion dollar bail out.

[Robmeister]

As far as AIG.....they need to be bailed out....if they were to FAIL that would be a GLOBAL economic catastrophe.

I dunno, man.  Personally, when it comes to a GLOBAL behemoth like AIG (or Microsoft) when global economic fallout is an option....that ain't no easy decision to just say, "Screw them....they're the one's who phucked up."

No bail out and the unemployment rate goes to 20% or more and we return to the days of the soup kitchens and guys selling apples on street corners and the foreclosure rate going thru the roof.

bailing out the private sector, my opinion is that this situation warrants some type of intervention.  If AIG were to have failed, it would have had far-reaching affects all around the planet. ...avoiding this next bailout may likely lead to...a much deeper and longer economic downturn.

WE'RE IN GOOD COMPANY, BOYS.....I'D SAY WARREN BUFFET IS PRETTY SMART...FRONT PAGE CNN TODAY:

Buffett to Congress: Act or face historic meltdown:

Billionaire Warren Buffett told congressional negotiators that if they can't agree on a proposed financial bailout, the nation will face "its biggest financial meltdown in American history,"

[buddha]

Where does all this crap stop?
Some people need to go to prison over this and I mean prison where covering your a$$ takes on a whole new meaning. The problem here is that George is filling everyone with the fear of what will happen if this "HANDOUT" doesn't go through. IMO if some real investigation were done we would find that a lot of our elected leaders have their hands in this up to the elbows, that's why they're in such a hurry to make it go away. They're getting pressure to vote this thing through in a hurry just like with the patriot act. That, in itself tells me that something is definitely shady here.

[tomgallagher]

I agree. If law enforcement started turning over rocks they would find a lot of snakes.

[Timmay]

Everyone depends on our gov't too much to make things right.  It will all get swept under the rug before its done and over with.  Always does..so why stop now.


The way I see it.  If the US fails...we all fall.  No one to blame but the big boys...but they will be sitting comfortably.

[Robmeister]

I don't disagree, yooz guys.....

But the fact remains that allowed to FAIL, which we would all prefer in principle, the alternative is economic disaster.

And if ya think that's a hoax....then is AIG really failing?.....and if you go there then yer flirting with those who think Bush and the CIA brought the twin towers down on 9/11, using Islam as a scapegoat.  (ya might even believe in a second shooter in Dallas, 1963).

Regardless of Bush.....who needs to be held accountable....yada yada yada....

Economic fallout is a harsh alternative, man....that's the crux of my ramblings

[buddha]

IMO economic disaster is coming either way. So what if AIG and the rest of these behemoths are allowed to fail? They'll be broken up into their basic parts and sold off and maybe then we won't have this system of monopolies that we have now, where one big company starts buying out a whole bunch of smaller ones until they control not just a corner but the entire market. Maybe we would go back to the days of healthy competition and that would as surely bring consumer prices down as a $700 Billion dollar handout to, among others, Paulson, Goldman, Sachs.

[buddha]

4pm Monday, NPR (WI) just announced that the bailout bill has just been defeated.....BY THE REPUBLICANS! What does that tell ya? His own party told him to get effed. I guess we'll see what happens.

[Robmeister]

...the bailout bill

has just been defeated.....BY THE REPUBLICANS! What does that tell ya?

umm...that the Republicans favored it less than the Dems? 

[buddha]

umm...that the Republicans favored it less than the Dems? 

So it would appear.

[marshd1000]

Not to get too political, but from what I understand, this failure is because Nancy Palosi, started speaking against the Bush policies.  So there may have been some backlash because of that.

But while I know there is a policy here against religious topics, I would suggest that those here who are praying people start praying for our leaders (BOTH PARTIES) for wisdom and to quit the back biting.  

Yes, it does suck that the taxpayers are stuck with the bailout, if it happens.  But I don't want to get my next meal from a soup kitchen.  I am blessed that I am still employed as a warehouse manager at a carpet store.  I am paid hourly.  But I feel for my sales people who are on commission.  They are hurting.  But if the economy goes down, people like me will be out of jobs because people will be only able to buy necessities. They won't be buying carpet.

There is a great trickle down effect.  Many industries will be affected.  Do we want Great Depression 2008?  THINK ABOUT IT!  I think that this time around, it will also be way more violent than in the 1930's when people helped each other out.  There is way less of the mindset in today's society.  It is a meaner, more violent place!

[Robmeister]

Aside from from Bush's own party telling him to get "effed".....this is the best argument I've heard/seen so far in favor of Bankruptcy over Bailout.

http://www.cnn.com/2008/POLITICS/09/29/miron.bailout/index.html

[Mikekoz13]

Aside from from Bush's own party telling him to get "effed".....this is the best argument I've heard/seen so far in favor of Bankruptcy over Bailout.

http://www.cnn.com/2008/POLITICS/09/29/miron.bailout/index.html

Now THAT article makes sense... to me........

[tomgallagher]

The Bail Out fails to pass. The Dow Jones average falls 800 points in the same day. Tighten your seat belts gang.

[Mikekoz13]

The Bail Out fails to pass. The Dow Jones average falls 800 points in the same day. Tighten your seat belts gang.

I'm holding on tightly Tom...... even as my retirement account swirls down the Democrat/Republican toilet of life............

[hammerdrill376]

And as usual in Washington no one wants to take responsibility and so let the blame games begin