Opinions/thoughts on the "bailout"

[TinysMom]

seniorcats wrote:

I've found John Stossel's comments on the bail out interesting. He is against it. You can google John Stossel bailout and come up with some interesting info.

What's funny is Greta on Fox had an article link on her site and the comments were "Could Michael Moore and the Republicans agree on something?"....since he is against the bailout and so are the Republicans.

Donald Trump was very interesting when he was sharing his thoughts on the bailout on Fox....he was pointing out that every day the bailout doesn't succeed - the price of oil drops...and that is a silver lining in a way to the whole thing of not getting the bailout.

It amazes me how many people I'm listening to are against the bailout and the things they share...it really makes me think. (I wasn't a big fan of it but I didn't want another stock market crash).

What really bothers me is that many of the same legislators who got us into this mess - are the ones doing the "investigating"....and some of them (Chris Dodd is one) are the ones who got the most money from Fannie and Freddie Mac.

I don't know - I have real mixed feelings about this.

I do think something needs to be done - I don't think the bailout as it was set out originally is it. I'm glad that many of the House Representatives - both Republicans and Democrats....stood up and grew some backbone and said, "NO" to this particular plan.

Oh well - enough of me rambling...I'll go try to find more information too - thanks for sharing the links!

 

[kirst3buns]

I do think something needs to be done - I don't think the bailout as it was set out originally is it. I'm glad that many of the House Representatives - both Republicans and Democrats....stood up and grew some backbone and said, "NO" to this particular plan.

Yes. and I wish they would all stop harping on each other and pointing fingers and just say "Hey, this wasn't the right plan, we need one that is and we'll work together on a new one."

 

[Aina]

Ok, this whole thing started when the government pressured the loan people to who were lower income, more risky people. Unfortunately the people are more *risky* for a reason.
Then Bush made it worse by bailing out anything that breaths.
So now we have this big mess. The bill didn't go through, but the federal reserve did give them 600 billion dollars.
The reason the bill was bad because it put a lot of restrictions that would hurt the economy later. It is also bad to not let people live with the consequences of their actions. If we socialize losses it isn't long before we socialize profits.

Ok, so now everyone wants change. Of course we are in a recession/depression. Obama says he is for change, but not all change is good. Two years ago the new democratic speaker of the house stood up "We were voted in because people wanted change!"
Hah! What a change!
Obama has several policies that I could never support. He is for partial birth abortion and higher taxes for the wealthy among other things.
So we really need to not get caught up in the whole "change" thing and look at what the change would be.

 

[seniorcats]

Aina wrote:

Ok, this whole thing started when the government pressured the loan people to who were lower income, more risky people. Unfortunately the people are more *risky* for a reason.

Chris Dodd and Barney Frank were primarily responsible for that presure. Balloon mortgages, teaser mortgagers = worthless