What is Digg?246 Comments
- wonderchemist, on 09/28/2008, -4/+85I predict, for the rest of the year, unemployment will go up, home values will go down, and bankers will be getting record bonuses.
- inactive, on 09/28/2008, -5/+85and George Bush, and Harry Reid, and every member of the executive that pushed for it and every member of congress that helps to draft it AND every member of congress that votes for it.
- inactive, on 09/29/2008, -4/+76"Governments are instituted among Men, deriving their just powers from the consent of the governed, that whenever any form of Government becomes destructive to these ends, it is the Right of the People to alter or abolish it, and to institute a new government....."
We should burn every last one of them at the stake! - rock774, on 09/28/2008, -21/+91Thanks to Nancy Polosi
- Bastet62, on 09/28/2008, -22/+69Another shock and awe mission. Mission Accomplished! Thanks Bu$hCo! You've screwed us all quite soundly.....again.
- evelynvesta, on 09/28/2008, -14/+54The last hurrah for bush and thugs.
- Ghostalker, on 09/29/2008, -3/+43I get in debt, I work more hours at work. They get in debt, they get a ***** handout.... yeah, makes perfect sense in a capitalist economy.
- inactive, on 09/29/2008, -1/+40Well...that is 10% less suck than I was expecting.
- JATCA69, on 09/28/2008, -19/+56Bushed!!!
- richmomz, on 09/29/2008, -6/+42I lost 50 bucks at the track this weekend - where do I sign up for my bailout?
- bucfish, on 09/29/2008, -6/+39A recession is gonna happen no mattter what they do this will just make it much worse. We should END THE FED
Support HR 2755 Call your Rep and get him to cosponsor it!!! - kurtwinter, on 09/29/2008, -4/+34$700 Billion, as a reward for failure. The cake is a lie.
- cruzecon, on 09/28/2008, -11/+36If there is still a message to be sent it should be by electing Cindy Sheehan instead of Pelosi!!!
Pelosi proves that the current Democratic party leaders have been whipped for so long they cannot imagine actually saying NO! to this Administration and their foreign handlers. Let's hope Obama can get them to get out of his way and actually LEAD on Democratic principles. - stealthc, on 09/29/2008, -2/+24And Democratic Congressed!
- Bartboy919, on 09/29/2008, -2/+22At least they stripped the fascist "No-reviewable" portion out of it.
- inactive, on 09/29/2008, -2/+21Yes!!! Thank you my friend!!! You saved me the trouble of cutting and pasting. Now the question is WHEN THE HELL DO WE GET STARTED ABOLISHING?
- madfastride, on 09/29/2008, -2/+21Why not... Another free money give away to the rich. I'm glad some people aren't held accountable for there actions.
- stealthc, on 09/29/2008, -4/+22This was a joint accomplishment of the Republicans and Democrats. Make sure you thank them both when you can't feed your kids anymore.
- GovernmentSp00k, on 09/29/2008, -2/+19They're all in on it...."Republican" "democrats" ***** doesn't matter anymore. All are complicit. They're 2 wings of the same bird. Nothing but meaningless categories. A divide and conquer mechanism. Both lobbyist pandering corporate lapdogs sell we the people out equally the same. They completely fail to function as proper opposition parties. No oversight, no Checks and Balances by either. They legislate our rights away, they tax us relentlessly without representation, they vote to spy on us, read our emails and listen to our phone calls without probable cause. They legislate our Constitution and Bill of Rights away into oblivion. They ***** us over with 700 BILLION dollar "bailout" fraud. Americas predicament is WAAY past the mind-numbing ***** of this is left or right. America is under domestic fascist assault.
We need to ditch this partisan BS and united together as AMERICANS. As human beings. As CITIZENS. Not meaningless party names and soundbite affiliations. Not some stupid label that means nothing, that strips us of our humanity and individuality. Strength in numbers. 3 million of US, so few of "them", yet we are naively distracted, fighting amongst ourselves, separated, powerless to evoke real change. While those in power are perfectly united. They've got us right where they want us. As they laugh at our supreme gullibility from the sidelines. Think about it..
Until we unite together as AMERICAN CITIZENS against these creatures and ditch the bull ***** party rhetoric bumfluffery which divides us all, nothing will change for the better in this country. - muckemuck, on 09/29/2008, -1/+16For those sitting there scratching your head wondering what's so bad about the Federal Reserve and thinking that if the Fed had been around back then we wouldn't have had a Great Depression (this is what most Americans think..sigh..) go read this: http://www.worldnetdaily.com/index.php?pageId=5940 ...
and then ponder why Ben Bernanke, who helped cause this mess by continuing to manipulate interest rates to pump cheap credit into the market, is overseeing much of this bailout.
The banks run the Federal Reserve and the Federal Reserve has essentially hooked $700,000,000,000 of taxpayer money going back into the banks. How sweet a deal it is. - GovernmentSp00k, on 09/29/2008, -2/+17"We should burn every last one of them at the stake!"
Best solution to the "economic crisis" I've heard yet... - csstudent, on 09/29/2008, -0/+12That's what I kept saying .... He only has 5 months left etc. I thought how could he possibly ***** anything else up. Well Bush, Paulson, Bernanke, Pelosi, Franks, etc all proved me wrong.
- TriTech, on 09/29/2008, -1/+13And the executives of the bailed out companies get to keep their golden parachutes. Your tax dollars are going to reward their failures.
We should vote all these ***** out of office. - muckemuck, on 09/29/2008, -5/+16... so .. why didn't the Democrats do anything to stop them? Where was Pelosi the last two years?
It's not "that simple" either. It's not just about regulation. The Federal Reserve monkeying with interest rates to create cheap credit was also a big factor. The lobbyists for Fannie, Freddie, Goldman Sachs, etc paid out tens of millions each to lobbyists and directly into the campaigns of both Republicans and Democrats.. and our elected officials did exactly as they were paid to do and protected them. - inactive, on 09/29/2008, -2/+12. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . _________
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: : : : : : :¯’’~~~~~~’’’ : : : : : : : : : : : : : : : : : : | : : : : : : : : : - deadapostle, on 09/29/2008, -2/+12I spent about 2 hours reading it this evening and came to the realization that if this thing is going to happen, I'm a hell of a lot happier with this bill than the initial proposal. There is a great deal of oversight and there are a lot of protections in here for the taxpayers and the homeowners. Additionally, there is going to be an investigation and action regarding how this mess happened in the first place. Golden parachutes are going away (at least for banks that sell their at risk loans to the Gov't.).The treasury will be receiving shares of stock from banks that have their loans taken over, which will more than likely improve in value, as the banks will no longer hold those assets. Also, homeowners may see a reduction in their loan's principle, and a reduction in the interest rate.
That said, there are so many ***** up things about this bill that my head spins. The Secretary of Treasury will certainly have his work cut out for him if this passes. Oh, and the government will increase by 25%, for those who were wondering. - deadapostle, on 09/29/2008, -3/+13Uh... I don't suppose you read the first bill. That would have given the Secretary of Treasury $700 Billion to do "whatever he saw fit" in order to boost the economy. He answered to no one. Not Congress. Not the Supreme Court. If that passed, we all might have been immensely *****.
- spectxim, on 09/29/2008, -0/+9Next in news, America changes flag to all red design!
- muckemuck, on 09/29/2008, -5/+14You can't win an occupation.
- csstudent, on 09/29/2008, -1/+10Do you actually believe that by selling these assets that nobody seems to understand that the treasury will recover all costs to purchase and administer these assets and cover the costs of the interest on the money that we are borrowing to pay for them? What about the inflation caused by printing up 700 billion(and in reality 1 trillion dollars counting the other bailouts) that will affect everybody? Why shouldn't AIG and crew gamble with risky investments next time since if they do, the government will just bail them out since they are "too big to fail".
- KSUdesigner, on 09/29/2008, -0/+9The alternative might be just as bad or worse, but this is just going to prolong the problem. If they do nothing and let the market correct itself we'll have a ***** economy for a year or so. If they go through with this bailout we're going to have a ***** economy for a decade or so. Would you rather have one really bad year or ten moderately bad years?
- tacojohn48, on 09/29/2008, -7/+16In reality the "bailout" is not a handout of money to these companies. In reality it is a movement of liquidity. The government is buying assets from these companies which will eventually pay for themselves, but don't let reality stop your opinions.
- whahaa, on 09/29/2008, -0/+9how's this coming thursday for everyone?
- inactive, on 09/29/2008, -8/+17Please brush up on the Gramm-Leach-Bliley Act of 1999. Thank you.
- Sludgehammer, on 09/29/2008, -1/+10Ah yes, the universal solution to every problem, slow torturous murder.
- talmand, on 09/29/2008, -1/+9This is what I've been trying to get people to understand on Digg for days.
But people let their hatred of others who do dare not agree with them blind them to what's going on.
BOTH PARTIES have their hand in this mess. BOTH PARTIES are looking to screw us over even more.
What shocks me is the number of people who have the nerve to be surprised by this. - StultusJuventus, on 09/28/2008, -24/+32No! no no no no! Why does everyone keep reporting this to be Washington's pandering to banking interests?? This bailout is the result of failed REGULATION and without a bailout our entire economy will disappear due to a total lack of liquidity and the general destruction of the entire money lending process. It is NOT about saving these banks but rather about saving America's ability to continue to run!
Thank Republican efforts over the past 15 years to remove any sort of regulation which would have prevented banks from making such risky investments. Investment by nature is risky and without barriers this WILL happen always. Republicans removed the barriers. It's that simple. - manstein01, on 09/29/2008, -1/+8So now when the dollar is worth $.50 Canadian, we can thank our wonderful federal government. Republicans, Democrats, everyone. They all can take credit!
Ron Paul 2008. - inactive, on 09/29/2008, -1/+8Lets not forget McCain and Obama.
- weslen1, on 09/29/2008, -2/+9It's NOT the culmination, it's the BEGINNING. Did Obama even bother to read the thing? The crooks don't have to pay one thin dime back. Except MAYBE if they do it again. The rules in this bill don't apply to PAST mismanagement, only to the FUTURE. Minimum wage and middle class workers have to foot the bill but the fat cat criminals got left off the hook. AGAIN!
- xrmb, on 09/29/2008, -1/+8Uhm, I just came back from a future parallel universe, one where nobody was bailed out, and no recession happened...
...oh wait, Gore won there in 2000...
and now back to where I come from, cya. - Diced, on 09/29/2008, -11/+18Obama on the resolution -
“The breakthrough between Congress and the Administration is the culmination of a sorry period in our history, in which reckless speculation and greed on Wall Street and lax oversight from Washington led to a meltdown of our financial markets. But regardless of how we got here, a failure to deal with the current crisis would have devastating consequences for our economy, costing millions of Americans their jobs and retirement security.
“To understand how this tentative deal was reached, it's important to remember how this all began. The Bush Administration initially asked for a blank check to respond to this problem, which I strongly opposed. It would have been unconscionable to expect the American people to hand this Administration or any Administration a $700 billion check with no conditions and no oversight when a lack of oversight in Washington and on Wall Street is exactly what got us into this mess. If the American people are being asked to pay for the solution to this crisis, their tax dollars must be protected.
“That is why over the past ten days, in conversations with the President, Secretary of Treasury and leaders of Congress, I laid out the four core principles I believed had to guide any solution: oversight by an independent board; protections for taxpayers to ensure that they are treated like investors and that they receive any profits - and recoup any losses - from this plan; measures to help homeowners stay in their homes; and rules to make sure CEOs are not being rewarded at taxpayers' expense. While I look forward to reviewing the language of the legislation, it appears that the tentative deal embraces these principles.
“When taxpayers are asked to take such an extraordinary step because of the irresponsibility of a relative few, it is not a cause for celebration. But this step is necessary. Now Washington has to show the same sense of urgency in dealing with the crisis facing Main Street and the middle class by passing an emergency economic stimulus plan that would create jobs by rebuilding our crumbing roads; shore up flagging state budgets to prevent drastic cuts in education and health care; and extend expiring unemployment insurance benefits for those who've lost their jobs in this downturn and cannot find new ones.
“One final point. If elected President, I will order a thorough review of this plan to make sure that it fully lives up to the principles I've laid out. And I will also move quickly to upgrade our financial regulations for the 21st century, establishing new rules of the road and tougher oversight to ensure that the American taxpayers are never again forced to put their money and their futures at risk because of bad decisions in Washington and on Wall Street.” - inactive, on 09/29/2008, -1/+8It started with passage of the Gramm-Leach-Bliley Act (Repubs), Then Congress helped by Obama and the Dems expanded the CRM and added the the Requirement that banks Must make High Risk loans. It then compounded the problem by giving Freddie Mac & Fannie Mae the ability and direction to buy these over-prices mortgages, and it was all possible because the FED kept interest rated artificially low, and printed money for assets we did not have.
Do all you can to stop this from going through. Call your congressman and Senators TODAY!
http://www.youtube.com/watch?v=_MGT_cSi7Rs
Get Mad and Get Loud! - Terasiel, on 09/29/2008, -0/+7That never stopped upper management from getting bonuses before. Hell, it's only been two or three years, if that, since a great deal of people were fired to pay for a severance check for an executive at a major American bank.
- noupsell, on 09/29/2008, -0/+7I'm sure they're not done yet
- tattertech, on 09/29/2008, -2/+9Because Clinton's regime didn't make subprime loans look attractive? Look, I despise republicans as much as if not more than the rest of us but I don't believe blaming deregulation is the right path here. The fact is people ***** with the market on both sides of the equation. One side removed checks while the other side thought people who couldn't pay for houses have some right to own them.
- FENWAYFREAK, on 09/29/2008, -10/+17Obama is partly to blame for all this.
- bdav87, on 09/29/2008, -0/+6Way to jinx it dude. "How could things get any worse?"
*Thunder* - sinrtb, on 09/29/2008, -0/+6Though Pelosi is certainly one of the ringleaders every single person in gov't right now gets a share of the blame for this bailout. Elections be a coming if this is an important issue use your vote!
- sinrtb, on 09/29/2008, -0/+6The CEO of WAMU got 27 million dollars for 17 days of work.
I am sure he is kicking himself for his mistakes. -
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