I applaud this action. Like you said I don't normally applaud the gov't for meddling but this had to be done

Ok, this one is hard for me. I guess I want to know more about how the bailout is supposed to work.

A lot of people have been living paycheck to paycheck. I think those people forget that the economy has been bad enough that employers have been doing the same thing. They can only do so much. As soon as people stop paying their bills, the companies are going to hit a brick wall. They cant very well continue to allow them back to work if they cant pay them. Yea, 60 day notice would be great, but it is not realistic. When people stop paying bills those companies do not get 60 day notice.

Why extend credit to a business whose clients cant pay their bills?

Demanding severance and such is no different than the creditors calling demanding money. "Cant squeeze blood from a turnup and cant get money from me".

So, I dont understand. I guess if the bailout means the banks paying these people who lost their jobs until they can find another one....cool, but they are going to need a lot more $$$$ than just $15bil

sorry I have to laugh but kudos to the gov!!

Tho this is all abit odd i think, some things I just like you have been reading dont even addup!!!

How can the people who print the money HAVE NO MONEY??? They charge us all "regardless of what place you live in" so were is all that money they made on intest we pay back?..

Then you have the case of central banks like the fed ect who get intrest to print the money / currency that the smaller banks use / issue ?

Im not stupid or smart but this is far from over and something VERY fishy is going on with all this bank stuff.

---- Follow the money??? Yep and we all know who prints it,,, i guess there is the answer to all of this THE BANKS who cooked the books for the corps who got fat and greedy!! but then why on earth has the meltdown happend if everything was so rosey? it cant be afew dumb people in the usa who got into way to much debt? i mean wtf? there is way more to this than they are telling.. and as a ats reader of many topics i think this is the FED gone global "1913" jakel island n all that comes to mind heh..

But kudos to the govener i hope he has eyes in the back of his head. coz some peole are going to be waaay miffed at him !!

If I were a governor, I wouldn't stop there. I'd keep going. Since the courts have decided that eminent domain can take property from one owner and sell it to another if it's "in the interest of the community," then that's exactly what I'd be doing:

Taking all the bailout banks' land property in my state and selling them on the cheap to the local and regional banks. All of it.

I completely agree with the governor in this instance. The failings of the banks are an indication of the problem, not the malady itself. These banks are at or near the top of the economic ladder and if they are suffering it is because the common American citizen is suffering.

The bailout money has been completely wasted by going directly to the banks, who in turn will seek only to stabilize themselves. Who in their right mind would've thought the banks would then turn around and put the money back into the economy?

The bailout should've been conducted from the ground up. The money should've been given to the citizens who's houses are going into foreclosure and the companies who are going through bankruptcy. This is how you stimulate a failing economy, not by giving more money to inept and corrupt corporations.

Oh no. Did I just read that America is going to be bowing down to China now? Talk about a shift in power taking place. This has been very thoroughly predicted in the past. Well, now its happening. Investing in China is going to become a trend, so, don't get mad because Bank of America is doing it. Pretty soon, everyone will. Did you really expect for them to invest in our failing economy?

[edit on 12/8/2008 by Mr Knowledge]

Why can't Congress appoint a "Bank Czar" to ensure the $700 Billion is
used properly, like the "Car Czar" who'll be put in place to oversee the
the paultry $15 Billion going to GM/FORD/CHRYSLER?

It looks like the Banks received their money with no strings attached,
but I thought there supposed to be conditions attached to their bailout?

I wonder how many other companies have closed their doors and left
employees hanging? If these workers had not of protested in such a
dramatic way, I doubt we'd be hearing about this incident either.
-cwm

Originally posted by Shadowflux

The bailout should've been conducted from the ground up. The money should've been given to the citizens who's houses are going into foreclosure and the companies who are going through bankruptcy. This is how you stimulate a failing economy, not by giving more money to inept and corrupt corporations.

The original $750B of bailout money was meant to buy out toxic assets and stave off foreclosures. That was one reason why people like Obama were supporting it. Then the Bush administration changed its mind and let the banks do anything they wanted with it.

Meantime, the automakers have to grovel for 15B and meet all kinds of criteria and conditions before they can get any assistance to keep their workers on the payroll. (A previous poster pointed out that GM plans to invest 1B in Brazil--offshoring more jobs I suppose--so maybe this kind of oversight is necessary).

If you represent the average person with a mortgage there's a whole different set of rules.

I agree with Marg--boycott the banks that don't invest in the American people.

Originally posted by Sestias


The original $750B of bailout money was meant to buy out toxic assets and stave off foreclosures. That was one reason why people like Obama were supporting it. Then the Bush administration changed its mind and let the banks do anything they wanted with it.

Slightly off topic but I thought this was worth mentioning:

I may be misinterpreting your feelings, and if so I apologize in advance, but lets not jump on the bandwagon of placing all of the blame for the failed bailout on Bush. People were screaming about the bailout when it came out that it would fail, was unfair, would lead to much more than 700 billion being spent, and had almost no oversight. In fact, many congress people got record numbers of mail telling them not to vote for it, and yet they all did.

Now these politicians and their sympathizers will blame it on Bush, and say that they had no choice, because the information they were given said we had to act immediately and it would work. Hmm, now where have I heard that mantra before? Oh yeah! Thats their defense of why they all voted for the Iraq war!

How many times will we leave our corrupt representatives use this as an excuse? If you were a representative that was legitimately fooled by the administration on Iraq, fine. Fool me once, shame on you.

But these very same representatives that have been telling us for years that Bush evilly lied to them take his word not half a decade later to give an unprecedented amount of tax dollars away, despite overwhelming public outrage? Either these people are all corrupt, or they are the dumbest people in the world. Either way, each and every person that voted for this bailout should be thrown out of office.

Don't be fooled by thinking that Obama didn't know what was up either. He specifically went to Washington to have special meetings about this bailout, and he could have led democrats to demand oversight into this process, but he let it go. It starting to look like us crazies that have been talking about how this was a scam that both parties were involved in are starting to look more credible. I urge people, stop making excuses for politicians because their in your party or you like them, and instead hold all of them accountable if they voted for this.