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505 Comments
- inactive, on 09/22/2008, -6/+207Only 2% of Americans understand what is going on.
- magoghm, on 09/22/2008, -9/+179April 2009: IRS Agents Need Bullet Proof Vests To Collect Taxes.
- Jhiaxuz, on 09/22/2008, -25/+18828% of Americans are idiots.
- bogglesminds, on 09/22/2008, -7/+107It doesn't help that the bailout plan includes bailing out FOREIGN BANKS! ====> http://news.yahoo.com/s/nm/20080921/bs_nm/financia ...
- Minarchian, on 09/22/2008, -6/+101Bullet proof vests won't protect from a head shot.
Just saying... - webyatri, on 09/22/2008, -12/+94What is the difference between communism and capitalism?
Communism is the exploitation of man by man; Capitalism is the exact opposite. - urbanbluest, on 09/22/2008, -7/+8928%. Isn't that about the same number of people that seem to support Bush in approval ratings?
- deleo, on 09/22/2008, -11/+81For being a die-hard conservative, Bush just became the most socialist president in U.S. history. How is that for incompetence? Everything that Wall Street and the Republican part stood for is gone. We own it now, so if the debt goes bad, we will start to see basic Gov't services going unfunded. Some people think that this is even a Bush conspiracy. He wanted to bankrupt the Gov't to render it useless, so Obama will not have any money to implement the plans that he has for building a new infastructure, health care, education, energy etc.
The next President is going to have his hands completely tied for 4 years with cleaning this up, and also getting us out of Iraq. Bush screwed up so bad, it will take another administration or two to get us back to where we were on the day he took office 8 years ago! - inactive, on 09/22/2008, -4/+63If you go back in time and allow me to share in all of their profits for the past 20 years, I'll be more than willing to share in their loses. Otherwise, ***** off.
- DantheMan1107, on 09/22/2008, -0/+54The American colonists towards the end of British rule in the colonies attacked many of the tax collectors and chased them out of their towns. Why shouldn't we do the same? Especially for something as outrageous as this.
- brstilson, on 09/22/2008, -2/+46Bailing them out will only delay the inevitable. The free market requires that mismanaged companies go into extinction. Otherwise, you are simply advocating socialism for the rich.
- BossKey, on 09/22/2008, -1/+43"The administration has privatized the profits and socialized the risk."
- hugolp, on 09/22/2008, -20/+61Only the IRS is not legal.
- inactive, on 09/22/2008, -7/+4828% of Americans love the idea of a nanny state.
- Ebacherville, on 09/22/2008, -5/+42Herkimer56,
What exactly did your fore fathers do during the revolutionary war? they committed violence against what Brittan considered legal. yes, violence is not the answer, unless its the only answer.
the tax payers are being fleeced here and the government is not doing as they wish, thats the reason the 2nd ammendment was put in the constition and bill or rights , just in case your government went rouge.
In my opinion they have! Like a rabid animal, if it comes after me its dead! - magoghm, on 09/22/2008, -3/+38Disclaimer: I do not advocate violence. I'm just guessing what might happen.
- Aadain, on 09/22/2008, -4/+39I just say it: I would prefer the crash to a bailout. These companies and executives have been running this country into the ground financially for their own benefit. Bailing them out will do nothing but dig us deeper and deeper into debt to foreign countries. And they will continue doing this to us again and again until either the country as a whole collapses or we let them die like they should. They are bad companies with bad businesses models. We shouldn't be helping them out, we should be helping to get rid of them. Letting such a small number of large companies have such large control over our economy is stupid and needs to be corrected.
- jasoninoakland, on 09/22/2008, -0/+34Unreal. Those of us who've managed to live within our means and not leverage ourselves to death are going to be subsidizing the spendthrift morons who got us into this predicament.
- wheresjim, on 09/22/2008, -0/+34For good reason, from Section 8 of the bailout plan:
"Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency."
This basically grants the Secretary of the Treasury massive power with no oversight or accountability.
This is an insane power grab, and for the administration to use this crisis to further their unquenchable hunger for power is despicable. - inactive, on 09/22/2008, -1/+34And they will default on the loan...just like their mortgage customers!
- Wargalas, on 09/22/2008, -7/+38Bush can't do it without the Democratically controlled Congress. Remember that if this gets passed.
- Badandy127, on 09/22/2008, -4/+33I'd like to see the statistics on the percentage of people who understand basic economic theory. Until then , this statistic means nothing and probably reflects the prevailing opinion out there in book clubs, the view, and the main stream media.
- delrin500, on 09/22/2008, -3/+32This is total *****, they are in this situation due to their own greed and stupidity.. They should be forced to payback what they borrow and foreign banks shouldn't get a dime. All the CEOs who work or worked over the last 10 years for every company that gets any money should have to forfeit 80% of their "earnings" to help pay for the situation they got their company's into. Why should we have to pay for their mess while they make off with millions?
- brstilson, on 09/22/2008, -5/+32Herkimer56, here's a little news flash for ya.
IRS agents are NOT government agents. The IRS is privately-owned. - pintomp3, on 09/22/2008, -1/+27that's about the same percentage that supports bush. i wonder how much overlap there is.
- BlakeEM, on 09/22/2008, -4/+29If the banks don't go under for being stupid then what incentive is there for them to ever do anything right? Same with the housing market being bailed out, get a house you cant afford and the government will help you out. Not to mention the bailout puts us far more in debt and inflates the dollar even more. If they are left to crash this would be over much quicker and they would be left to sell off any assets. Instead my future kids, kids may still be paying off this debt and it could last decades rather than only a year or two.
- laughandsing, on 09/22/2008, -0/+25Who is learning from their mistakes? The big companies that are getting the bailouts? I think not. In order to learn they need to experience some type of loss. The general public should not have to pay for something that they didn't do.The people that should be learning from their mistakes are both parties whose interests were involved. When you make a bad investment, you loose money. These companies need to learn that they won't always have someone to "bail" them out. How do you suppose they learn that lesson?
- kemp34, on 09/22/2008, -0/+24No. This is simply a transfer of wealth. From those who made the bad decisions to everybody, INCLUDING THOSE WHO SAW IT COMING AND AVOIDED THE RISK.
You simply want to take the money of prudent people to give to others who did stupid crap. How is that not selfish? Sound pretty brutally self serving if you ask me.
Also, the worst possible scenario is the outright destruction of the dollar system, which would be a worse collapse than if the banking sector fell apart. This is a shuffling of the chairs on the titanic set up to hurt the common person for the benefit of the insiders. If you advocate this, you are black hearted. - ThinkOutTheBox, on 09/22/2008, -10/+33No, we bail out these banks we will go into a depression that will make 1929 seem like a cake walk.
- falstaff, on 09/22/2008, -1/+24Bush has never been a fiscal conservative. From Medicare Part D to continued support of massive Farm Bills, he's always been a member of the christian socialist wing of the party. This is not new, not surprising, and definitely not conservative.
- MforMike, on 09/22/2008, -8/+31that 28% is either investment bankers or uninformed idiots
- PabloMac, on 09/22/2008, -1/+24Capitalism is the exploitation of woman by woman? Sounds interesting.
- TigerStar337, on 09/22/2008, -2/+24This bailout is part of the Shock Doctrine (Naomi Klein). The Bush Administration did the same thing with Iraq, and the Patriot Act. They don't want people to analyze the plan...just write a blank check. Given their past history, the US citizens should not do this. Further, the GWB said the Iraq war would cost $50 billion. It cost much more. It is reasonable to assume this bailout will cost much more than $700 billion.
This bailout is bulls*t crazy. Why do we Americans have to pay for the mistakes of stupid people? The US government should not do this. No way, No how! Let the companies die. "Not bailing out these companies will be bad for our economy short term. Bailing them out will be significantly worse long term." - Ron Paul
Ron Paul on CNN: http://www.youtube.com/watch?v=3qLefrvxbq8
If we chose not to bailout the companies, the economy will be bad for a year. If we bailout the companies, the economy will be bad for many years. Let the companies die and let the free market take care of itself. - Y0tsuya, on 09/22/2008, -0/+22They're the same ones who overpaid for their houses and now owe more than the houses are worth, or didn't pay attention with their investments that are now tanking. They're hoping the bailout will benefit them in some way.
- whahaa, on 09/22/2008, -0/+21more like 26% idiots, 2% rich bastards.
- netsurfergeek, on 09/22/2008, -0/+20I agree with you 100%, its lots of money.
Now my questions are,
1. Is AIG in financial position to pay that kind of interest?
2. Why is insurance company needs to be bailed out?
3. Why aren't actuaries / management in AIG doing their job to do appropriate risk analysis and not to insure bad mortgage backed securities from companies like Lehman Brothers and Goldman Sachs?
What about New York Life, Metlife, Principal, All State, State farm? Shouldn't they get some money for doing good business ????? - hugolp, on 09/22/2008, -11/+31@TheNWO the constitution of the USA. Is that enough proof for you?
- Y0tsuya, on 09/22/2008, -2/+22What's the difference? They're destroying our savings by printing money out of thin air. Good thing I have a wheelbarrow ready in the backyard. Will need that to cart my cash to the grocery store to buy a loaf of bread.
- diggproof, on 09/22/2008, -2/+22We're paying for it, we should decide whether it goes through.
- thespiff, on 09/22/2008, -1/+20How many fiscal conservatives refused to acknowledge that and voted for him again 4 years ago?
- 4321234, on 09/22/2008, -1/+19The same 2% that created the crisis?
- fuhcough, on 09/22/2008, -7/+25No kidding. I'll admit - I'm not a big fan of the bailout. But I'm lesser a fan of economic collapse.
What's worse is that the presidential candidates are playing to all of this *****. Publicly denouncing the bailout because it's what voters want to hear, even though if it were not an election year they'd probably be voting for it. - inactive, on 09/22/2008, -27/+45What is the alternative? Huh?
Will doing nothing not mean a full scale crash?
Is there an alternative to this that will prevent a crash?
This seems like a time when something is better than nothing, even if it is ***** we are where we are in the first place. - Spelvin, on 09/22/2008, -6/+23No, 28% of Americans are the rich bastards who got us into this...
Though that number seems high. - olenick, on 09/22/2008, -1/+18It also now includes bailing out banks that lent credit-card debt. So if a bank gave a person a credit-card, and the person charged a fortune, and the bank collected lots of interest until their (admittedly idiotic) debtor was broke, the bank -- under McCain/Bush -- can now sell the credit-card debt (that the original schmuck has repaid two times over) to the US government rather than facing their debtor in bankruptcy court, where they'd end up with little or nothing.
- Ontrackmac, on 09/22/2008, -3/+20Only less than 1% have SUCKED the wealth out of our nation....Shame!!!
- whahaa, on 09/22/2008, -7/+24thinking that this bailout will prevent a crash is similar to thinking that a war in iraq prevents terrorism.
- rmxz, on 09/22/2008, -0/+16"Will doing nothing not mean a full scale crash?"
Crash of what? A crash of the fortunes of executive-insurance-packages? A crash of the salaries of investment-bankers?
The dollar is crashing - it's just a question of who should pay for it, irresponsible execs & financial corporations (the no-bailout alternative), or taxpayers (the bailout alternative). - zinc6471, on 09/22/2008, -5/+21the profits haven't trickled down for the last 8 years...
- kenbot1, on 09/22/2008, -1/+16Pretty certain trained monkeys could make better economic decisions that our current leaders in congress.
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