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 Post subject: The $700,000,000,000.00 deal
PostPosted: Mon Sep 22, 2008 9:21 pm 
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I am suddenly concerned with the side effects of this proposed deal. I don't know enough about it to know how necessary it is, but our leaders better damn well know the impact on doing it vs not doing it.

I think I buy into the need for stabilization, but....

Help me here.....
Won't the value of the dollar go down immediately causing increased inflation for consumer goods. See what happened to gasoline by the barrel today? So, are we paying immediately for this huge borrowing. Wew Americans need to know the details and the effect it might have on us.

One or two days aren't sufficient when considering this kind of expenditure. What happens to taxes? to federal programs or proposed programs?

And surely we can't give this administration that kind of money for them to decide what is right for America. There are no good choices here, but even with the bad we need to go in with our eyes opens and a transparent government not keeping things in secret.

You guys have good minds, imput please.

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 Post subject: Re: The $700,000,000,000.00 deal
PostPosted: Tue Sep 23, 2008 11:07 am 
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Location: Bowie, Md
Substitute2 wrote:
I am suddenly concerned with the side effects of this proposed deal. I don't know enough about it to know how necessary it is, but our leaders better damn well know the impact on doing it vs not doing it.

I think I buy into the need for stabilization, but....

Help me here.....
Won't the value of the dollar go down immediately causing increased inflation for consumer goods. See what happened to gasoline by the barrel today? So, are we paying immediately for this huge borrowing. Wew Americans need to know the details and the effect it might have on us.

One or two days aren't sufficient when considering this kind of expenditure. What happens to taxes? to federal programs or proposed programs?

And surely we can't give this administration that kind of money for them to decide what is right for America. There are no good choices here, but even with the bad we need to go in with our eyes opens and a transparent government not keeping things in secret.

You guys have good minds, imput please.


Sub... I am concerned myself. Being a registered Republican, I believe this situation goes beyond partisan politics. So much blame has been thrown around this past week and I find myself getting a bit annoyed about it. The real question is, what are we going to do about this now? Who is paying for these companies and the bailouts? You and I? If so, I'm sunk. I work for a Gov contracting company and barely make enough to live here in MD, I have a business(Home Electronics installation and design) that is teetering on extinction(not to mention the $15,000 a builder refused to pay me), where is my bailout?

Frankly, I don't find this political bantering from BOTH sides to be amusing in the least bit. This economic crisis in my opinion needs to be addressed immediately, buy the elected officials that are in office as of right now. Possible Presidential electees cannot comfort me with catchy quips about what they would do in this situation.

I'm tired of hearing the "Barrell of Oil price", tired of hearing about large companies getting a "pass", and tired of hearing about what candidates "would do" if they were in office. If I am going to be paying for some company because they couldn't keep it in the black, I am going to be pissed. I have enough trouble keeping my business and my personal budget for that matter, in the black.

Sometimes I wish we would have just "took" all the freakin oil over in the Gulf for ourselves, damn media was insinuating that we did anyway. Why disappoint them.


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 Post subject: Re: The $700,000,000,000.00 deal
PostPosted: Tue Sep 23, 2008 11:35 am 
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I'm torn on this issue...rock in a hard place. I work in the investment business so I want as little regulation as possible and the least amount of government, the better. However, if the government did not step in, you could see a run on banks...and that would mean eveyone with a money market account could be at risk....and a depression...which still may happen, we're not out of the woods yet. What cracks me up was you had Spitzer coming down hard on mutual funds and making more paper work for clients yet investment banking and the mortgage products with no checks and balances.(Accountability)
So now Uncle Sam wants to loan money. If the companies are profitable do the taxpayers get a rebate? If they fail, then what?

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 Post subject: Re: The $700,000,000,000.00 deal
PostPosted: Tue Sep 23, 2008 12:13 pm 
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Joined: Sat Apr 26, 2008 7:24 pm
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Well, it depends on how important you feel the financial institutions are. Pols and banking houses think they are the most important things in the world right now, and they may be right because of the interconnectness of the world trading system. That won't go away, and if the US dollar can't be held was worthwhile, then you got lots-'o-problems.

In most any solution, it looks like the big wigs that everyone loves to hate, will get a short term pass. They almost have to, if the institutions are to survive. Its one thing to be sick at a thief who takes a few tens of millions in bonus to an offshore hideaway, it is another to watch a multi-billion dollar firm holding your retirement go down.

There are a couple ways outside of subsidy to consider as, well as bailout, but I doubt any pol will seriously consider it.

Ole Newt had a couple ideas. Now, I'm not going into whethe you like or hate Newt. I will say he is one of the brilliant pols of our time, and a true thinker/idea man.

That said, his solution would include repealing Sarbane's Oxley (I like it, useless tool and expensive), roll a few heads (I like the populist sentiment), and repeal the capital gains tax completely (that would certainly cause capital to roll into the US like a wave off the ocean!), among others.

ZM

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 Post subject: Re: The $700,000,000,000.00 deal
PostPosted: Fri Sep 26, 2008 4:23 pm 
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Its nothing if not a brilliant ad.

YouTube - Burning Down The House: What Caused Our Economic Crisis?

ZM

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