What is Digg?462 Comments
- credential101, on 09/25/2008, -7/+137I'm sure the recession isn't going to be as long and painful as the past 8 years.
- kplo, on 04/01/2009, -5/+120so now we're just supposed to let him hand over the money to his buddies? why are we being rushed? would one extra week really screw up things even more than they are now?
- jasoninoakland, on 09/25/2008, -4/+74Fear is what this man peddles more than anything to achieve his political aims. Such a threat should be viewed with skepticism by *everyone*.
- utexas112, on 09/25/2008, -4/+61While watching Bush's speech tonight, I couldn't help but think... why the F*CK should I believe anything that comes out of your mouth?
- kolop1, on 09/25/2008, -4/+53I'm going to laugh when this bill gets passed and things still fall through. This is like putting a band-aid on someone with a severed arm.
- RodBorn, on 09/25/2008, -3/+46any one else getting the weird feeling that this is Bushies one last crap on our heads to fill the pockets of his banking buddies before he bails on the presidency?
- UTKEngineer, on 09/25/2008, -2/+41We're creating it. Fake money will be transferred electronically. And therein lies the REAL rub. Every dollar you have will be devalued almost instantly when this deal goes through.
- Tralobyte, on 09/25/2008, -1/+39Never say things can't get worse.
- rumblestrut, on 09/25/2008, -2/+39God forbid that we, as a country, have to go through any pain.
However, going through pain is the only way we'll likely be able to learn anything from this mess. C'mon, you know it and I know it. We Americans are pretty hard headed and it takes us a few tries before we really learn from our mistakes.
Take the energy crisis, for example. We Americans have done an amazing job of scaling back our miles driven during this last year. It would have been better that we curbed our mileage before the crisis, but so bit it.
I think we needed this economic crisis. We need to be taught a lesson about our finances at all levels, most importantly at home. The message is pretty clear: too much debt is a bad, bad thing. From congress to the homestead, we Americans need to stop carrying so much debt and become the strong country we once were. - m4lomb, on 09/25/2008, -3/+37Bill Gates in his interview with Tom Brokaw mentions that he is "very surprised that we need this kind of bailout". Just a month ago the economy was fine according to our "leadership." Now G.W. Bush wants $700 billion with NO OVERSIGHT? I am sorry, but i think this look like THEAFT to me.
- kcpistol, on 09/25/2008, -2/+33Well I guess the terrorists do win. Its just the ones on Wall Street, instead of the ones in Pakistan. Now fork your cash over or we explode this IED (Improvised Economic Device).
- knodi, on 09/25/2008, -1/+31Where the ***** are we getting 700 billion from? China or Japan? We can't afford to bail them out.
- inactive, on 09/25/2008, -3/+32He should be worried about a long and painful prison term.
- Scremf, on 09/25/2008, -5/+32116 days 23 hours and 53 minutes till this man is out of his duty as El Presidente.
- lucy22, on 09/25/2008, -2/+27Kind of depressing news.
- Olle, on 09/25/2008, -6/+31I think it would be appropriate that all that voted for Bush for president should apologize.
Right here, right now.
I hope you realize what a moron you were when you voted in the guy that broke the back of the worlds largest super power. - utexas112, on 09/25/2008, -4/+28Remember how the Patriot Act was hush-hushed into law after 9/11? Yeah, same thing here. Welcome to America.
- RawOysters, on 09/25/2008, -2/+25How many times has he stated that the economy is strong, that we are just in a slowdown? What an about face! Now we are in for a long and painful recession unless we agree to his plan. Who woke George up?
- ngmcs8203, on 09/25/2008, -0/+19Because he's actually using the word "recession" now. Not just slow economic growth. /s
- richmomz, on 09/25/2008, -0/+18Why not? We just handed a $25 billion bailout to GM and Ford today while everyone's attention was on the bailout hearings: http://digg.com/business_finance/Stealth_Bailout_H ...
Pretty soon every corporation in the country will want a handout. - UTKEngineer, on 09/25/2008, -1/+18YES!
Until the majority of Americans stop living outside their means and swapping fake money, nothing will help.
Folks, add up all your income, subtract all your expenses, subtract out a set amount to save. If the resulting number is less than zero, you're part of the problem! - inactive, on 09/25/2008, -5/+21Bush can suck my *****. If he had half a conscience he would have killed himself long ago.
- Unixed, on 09/25/2008, -3/+19Oh no, not another scare tactic.
I do admit, there will be issues, but according to my favorite politician, the market needs to correct itself. Time to let the market do just that. We as America need to grow the ***** up and realize that we cannot eat our cake and have it too. - ligyron, on 09/25/2008, -4/+19FTA:
"However, the Oval Office rivals were not putting politics aside entirely. McCain asked Obama to agree to delay their first debate, scheduled for Friday, to deal with the meltdown. Obama said the debate should go ahead."
I'm beginning to think this is just a strategy from the Republicans to spear Obama's image - regicide, on 09/25/2008, -2/+17The Politics of Fear
- ElGeneral, on 09/25/2008, -4/+19***** this guy, we've listened to him enough, we've followed him too far, this bale out is a bad idea. They want to give a last push before they leave office... why should we pay for their mistakes!
- clat98, on 09/25/2008, -2/+16i think its both china and our children.
- dalittle, on 09/25/2008, -5/+19I'd take a long painful recession over a long painful war anytime.
- mfc5200, on 09/25/2008, -1/+15I'm reposting this:
I dont like how Bush, the Fed, Paulson, etc are trying to paint this as a black and white picture. They say, you either bail the banks out, give us $700 billion, or else the economy will come to a grinding halt as there is no credit to be given.
How about a compromise? The government bails the banks out, but in return, the current shareholders and bondholders have to give say 95% of their equity to the US Government. The government then replaces all of the top executives, and allows the market to correct over the next 5 years while using the $700 billion to keep the markets liquid.
Thus, the banks owners and executives get punished for making bad mistakes. They lose most their stakes in the company which is from their point of view, the equivalent as if the institution had gone bankrupt. But at the same time the economy will keep on ticking. This will be used as an example to all future financial institutions that think they can take take the US economy hostage ("bail us out or else we all go down"). Then after 5-10 years once everything is calm down, the US can liquidate these companies and get their money back.
I'm not saying that's the best plan. But I believe a situation where the executives, shareholders, and everyone else responsible for this situation gets severely punished while the credit doesn't freeze thus destroying the U.S economy is what we should be aiming for.
Yesterday and today, Bernanke asked for "no punitive measures." And today, Bush in his address tried to paint the picture as though it were black and white, we either bail them out as they want, or the economy goes to hell. I think there is a middle ground as I have just described, and I think we should follow that route.
p.s I'm a huge free market guy too, so it pains me to say that, but if these banks go under all at the same time, our economy is screwed. We can't let that happen, but we can't let them off the hook either, that would be ridiculous, and thats what they are asking for. Hopefully we don't give them what they want and make them feel pain, such that they learn a valuable lesson and are an example to all banks who try and pull ***** socialized losses crap in the future. - setholansky, on 09/25/2008, -5/+18FAIL.
- bigbangbuddha, on 09/25/2008, -4/+17The last time this guy 'warned' us of impending doom and ushered us into hasty response we ended up in Iraq (Vietnam part Deuce). I think someone needs to give him something 'long and painful' before we end up selling everything to China.
- polalion, on 09/25/2008, -1/+14Well you don't say!
- LiceHelpDotCom, on 09/25/2008, -1/+14I think the Fed is just creating/printing the money. It that truly is the case, the dollar will be devalued even more.
- bongfarmer, on 09/25/2008, -1/+13Does anyone know where they got the 700 billion figure from?
- x1soundgarden1x, on 09/25/2008, -0/+12Is it officially confirmed yet?! Worst President Ever? Worst Party Ever?
Endless International War- ✔
Extreme Loss of Treasure- ✔
Unending administration scandals and crimes- ✔
Rampant Cronyism- ✔
Complete destruction of international standing and respect- ✔
Reignited Cold War and Arms Race- ✔
Impossible standards for schools- ✔
Energy Crisis- ✔
Intelligence failure leading to catastrophic terrorist attack- ✔
Destruction of middle class- ✔
Rampant Deficits and devaluation of the dollar- ✔
COMPLETE ECONOMIC COLLAPSE-...and...that's a ✔
As the Daily Show said, he's not trying to get a legacy as the worst president, he's trying to get it as the "last" president. - ouijimon, on 09/25/2008, -0/+12"...I'd really rather not have to live through the 2nd Great Depression just cuz of political maneuverings."
It's BECUASE of the political manuverings that we will go through the 2nd Great Depression. If we don't bail the companies out the shaky companies will fall and we'll have a rough year. If we DO bail them out, that will just prolong the problem and compund it by stretching it out longer and we will have a rough 10 years. Letting the companies crash and burn is the market adjusting itself and finding its bottom, bailing them out is interfering in the free market system and will just make things worse. - Nerys, on 09/25/2008, -3/+15NO this is like holding a potential solution in your hand for the person with a severed arm and instead of giving them that solution you give them a pain killer hand the solution over to your best buddies who are rich and letting you go home with the arm falling off thinking you just got a solution not knowing you just signed away your life. Go figure.
- CraigB12, on 09/25/2008, -1/+13Technically, yes, it could screw things up more, but it also might not. Is it worth waiting? YES.
The risk being that the market could fall enough to scare the hell out of everyone, thereby causing a domino effect. Unemployment would skyrocket and inflation would probably double within a few months.
Either way, we're in for the long haul, and this resolution is most likely a REALLY bad idea. - inactive, on 09/25/2008, -5/+17Let it burn.
- inactive, on 09/25/2008, -0/+11Sorry.
- Loki614, on 09/25/2008, -7/+18Thanks, W.
- inactive, on 09/25/2008, -0/+11Sweet, I'm going to borrow money from my grandkids. Hope they won't mind.
- JMilton, on 09/25/2008, -1/+12Let's bail out private business because they're used to being rich, and will ***** the people over, because the time has come for them to learn what it's like to live in a third world country. George, you Epic Retard! I adore your presidential skills! Make us starve! I dare you!
- jasdf, on 09/25/2008, -0/+11Finally, someone who understands how a piggy bank works!
- Azselendor, on 09/25/2008, -2/+12Long Resession rhymes with Depression. I think it's time I dug out my grandparent's hoover hats
- fasda, on 09/25/2008, -0/+10So its a depression then
- wakeup82, on 09/25/2008, -2/+12As if their plan is going to do the country any good. It's almost like a threat. If you don't pass this bill things will be terrible. If it is passed you'll be ok.
The monetary reform act is the solution to the problem.
http://www.themoneymasters.com/mra.htm - kemp34, on 09/25/2008, -0/+10The bail out would hurt the dollar and cause more inflation.
- algaeturd, on 09/25/2008, -4/+14Do what we say, exactly what we say or something really bad will happen to all of you.
I'm sick of the ***** lies. NOTHING can be as bad as listening to this idiot and his cronies. He's ***** this country up time and time again but THIS time he's going to get it right?
It's embarrassing how often this guy has been completely wrong. Time and time again.
Just say no. He's protecting his elite, rich friends and NOT looking out for the average Americans' interests.
Remember right after 9/11? They knew best? They knew exactly what was going on? Trust them?
*****. Time to say no. This guy has steered the ship into the icebergs one too many times. I do NOT trust him and I do not trust the republicans. You can tell when they're lying because their mouths move. - niradg, on 09/25/2008, -1/+11apparently it's random. no, i'm not making that up.
"It's not based on any particular data point," a Treasury spokeswoman told Forbes.com Tuesday. "We just wanted to choose a really large number."
http://www.forbes.com/home/2008/09/23/bailout-paul ... -
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