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Should we bail them out??

  • Yes

    Votes: 0 0.0%
  • NO

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Laura

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[SIZE=12pt]I finally heard the number I wanted to hear last night, how much per man, woman and child this will cost us...for every man, woman and child in the US, it will cost EACH of us $2300.00. So for our family of four, it will be nearly $10,000.00. [/SIZE]

For years we have heard "we don't have the money in the budget" to fix healthcare, our schools, combat abject poverty, give proper relief to victims of natural disaster or crime, for researching alternative energy sources, for finding the cure for diseases that kill millions, to combat global warming, to work on any of the issues that affect EVERY person, EVERY day, but yet, here's $700,000,000,000.00 or even a TRILLION if we need it, that we really want handed over to one man to do with as he sees fit.

Does anyone else see the fatal flaw in this plan?
 

littlesteppers

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Well our president will have a speech tonight at 8.00 CENTRAL time.
 

OhHorsePee

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I will probably not be the popular one
again. It is MY blief that we should do the bailout BUT with tight restrictions. I have always said, and will continue to say, that if business does not do well we wont either. You are witnessing now with what is happening with Wall Street that this is true. As I said I do think there should be tight restrictions and I am glad that the FBI is investigating Freddie and Fannie executives for fraud. I do not think Congress should have their fingers in it so much either. Look at the market getting worse since they are holding it up in Congress. I do think Paulsen should have it and be held accountable to every penny and also have an over sight board. But I do think they should be a little more expedient to relieve the market.
 

littlesteppers

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What gets me is the hedgefunds raised billions of capital and they are ready to buy these bad mortgages on a government auction CHEAP and prob make a killing..
 

Laura

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What gets me is the hedgefunds raised billions of capital and they are ready to buy these bad mortgages on a government auction CHEAP and prob make a killing..
None of which will help the people who lost those houses and since the houses will then be sold fast, far below market value (I think Paulsen initially said "pennies on the dollar") it will further depress, if not destroy, the housing market
I told Steve that if we won the lottery we'd be buying houses to resell as owner financed, hopefully to help people be able to buy their own home..or buy their own home BACK.
 

OhHorsePee

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I agree Christine. I hope there is something they can do about short selling these mortgages. My fear is that Congress will keep holding off since it is an election year. Everyone of US lose when they do this type of behavior.
 

littlesteppers

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I agree Christine. I hope there is something they can do about short selling these mortgages. My fear is that Congress will keep holding off since it is an election year. Everyone of US lose when they do this type of behavior.
Sorry, short selling? I believe they hang on until the market unfolds and the value will rise..or do you mean short of value??
 

OhHorsePee

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Yes, short selling of their value. I think this should really be looked at hard. And the fact that Congress let this happen.
 

littlesteppers

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Ahhh..okay..gotcha..was wondering how they would shortsell..sorry my mistake..
 

anita

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Voted yes, as far as I understand its a short time like a "rescue"

This Dem Congress should get investigated first!
 

littlesteppers

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Another thing that distubs me..they KNEW these houses will foreclose..they took the money as long as the people paid..its not like you miss One payment and they take your house..THAN they go and want a bailout NOW..or the world is coming to an end tomorrow..and give ONE man power over 700 billions with NO conditions attached..his initial supposal even would have him proetected from ANY court..including the supreme court..UNBELIVABLE
 

Jill

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It's something I think about every day and my career for the past two decades is about finance... and since 1995, I've been a registered rep (stock broker), financial coash, registered investment advisor... I live and breath the industry and I myself don't know what should be done... not doing something may cause more harm / cost more than doing something. I just don't know.
 

OhHorsePee

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I feel badly for people that have lost their homes. I have witnessed so many people buy anymore, though, that I knew couldn't afford it but were awarded a mortgage. So unless this is fixed we will be right back to where we are now, I fear.

Maybe it's wrong, maybe it's right but I can not believe it to be any other reason why Congress let this go on so long since concerns were brought up over a year ago over this issue. I really feel it was because this was going to be an election year.

I am so glad McCain has suspended the campaign to focus on this bailout. He is right now waiting for Obama to respond to it. See, that shows me huge leadership skills.
 

Gini

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I will probably not be the popular one
again. It is MY blief that we should do the bailout BUT with tight restrictions. I have always said, and will continue to say, that if business does not do well we wont either. You are witnessing now with what is happening with Wall Street that this is true. As I said I do think there should be tight restrictions and I am glad that the FBI is investigating Freddie and Fannie executives for fraud. I do not think Congress should have their fingers in it so much either. Look at the market getting worse since they are holding it up in Congress. I do think Paulsen should have it and be held accountable to every penny and also have an over sight board. But I do think they should be a little more expedient to relieve the market.
Fran I lean towards yes but voted no. What assurance can anyone give the taxpayers that the bail out monies will go to where they were earmarked for.

I just don't have the trust in the current administration to do what they say they will, without huge restraints on where the money will go.

I feel that the people spearheading this will not be there in the new administration and we will be left to pick up the pieces. I would only vote yes if there was an accountability for every penny spent. We all know that isn't going to happen sad to say.
 

OhHorsePee

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That's ok Gini, you are allowed to disagree!
I just know that something needs done now not later. And that I also do not want to see congress with their hands in the cookie jar.

I see your point Christine. What a mess!!
 

Neil

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It's something I think about every day and my career for the past two decades is about finance... and since 1995, I've been a registered rep (stock broker), financial coash, registered investment advisor... I live and breath the industry and I myself don't know what should be done... not doing something may cause more harm / cost more than doing something. I just don't know.
I'm with the "not doing something may cause more harm / cost more than doing something. " It could cause far reaching problems around the world. And, if you think there a unemployment problems now just wait. I am guessing that it would take a long time to recover from the fall out of not doing anything.
 

cretahillsgal

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I will be the first to admit that I don't know nearly as much as I should on this topic. But I just received this in an email and thought it an interesting approach to helping our economy. Help the people help the businesses. Instead of just bailing out the businesses.

The Birk Economic Plan

What do you all think of this plan????

Im against the $85,000,000, 000.00 bailout of AIG. Instead, I'm in favor of

giving $85,000,000, 000 to America in a We Deserve It Dividend.

To make the math simple, let's assume there are 200,000,000 bonafide U.S.

Citizens 18+. Our population is about

301,000,000 +/- counting every man, woman and child. So 200,000,000 might

be a fair stab at adults 18 and up..

So divide 200 million adults 18+ into $85 billon that equals $425,000.00.

My plan is to give $425,000 to every person 18+ as a We Deserve It Dividend.

Of course, it would NOT be tax free. So let's assume a tax rate of 30%.

Every individual 18+ has to pay $127,500.00 in taxes. That sends

$25,500,000, 000 right back to Uncle Sam. But it means that every adult 18+

has $297,500.00 in their pocket. A husband and wife has $595,000.00.

What would you do with $297,500.00 to $595,000.00 in your family?

Pay off your mortgage - housing crisis solved.

Repay college loans - what a great boost to new grads

Put away money for college - it'll be there

Save in a bank - create money to loan to entrepreneurs.

Buy a new car - create jobs

Invest in the market - capital drives growth

Pay for your parent's medical insurance - health care improves

Enable Deadbeat Dads to come clean - or else

Remember this is for every adult U S Citizen 18+ including the folks who

lost their jobs at Lehman Brothers and every other company that is cutting

back. And of course, for those serving in our Armed Forces.

If we're going to re-distribute wealth let's really do it...instead of

trickling out a puny $1000.00 ( "vote buy" ) economic incentive that is

being proposed by one of our candidates for President.

If we're going to do an $85 billion bailout, let's bail out every adult U.

S. Citizen 18+!

As for AIG - liquidate it. Sell off its parts. Let American General go

back to being American General. Sell off the real estate. Let the private

sector bargain hunters cut it up and clean it up.

Here's my rationale. We deserve it and AIG doesn't.

Sure it's a crazy idea that can "never work." But can you imagine the

Coast-To-Coast Block Party! How do you spell Economic Boom?

I trust my fellow adult Americans to know how to use the $85 Billion We

Deserve It Dividend more than I do the geniuses at AIG or in Washington DC.

And remember, The Birk plan only really costs $59.5 Billion because $25.5

Billion is returned instantly in taxes to Uncle Sam.

Ahhh...I feel so much better getting that off my chest.

Kindest personal regards,

Birk

T. J. Birkenmeier, A Creative Guy & Citizen of the Republic

PS: Feel free to pass this along to your pals as it's either good for a

laugh or a tear or a very sobering thought on how to best use $85 Billion!!
 

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