Bailout plan? DENIED...

[Jeremy Mason]

Where ever your treasure is, there will your heart be.

 

[Neo-Logic]

Where ever your treasure is, there will your heart be.

I'm sure all the seniors that lost their life savings and 401k retirements for them and their families because their companies went belly-up or the stock market lost over 1 TRILLION in value today, are saying that to comfort themselves.

 

[Jeremy Mason]

I'm sure all the seniors that lost their life savings and 401k retirements for them and their families because their companies went belly-up or the stock market lost over 1 TRILLION in value today, are saying that to comfort themselves.

It's sad that it happened. Stocks are like Vegas, you put your money down to get your cards, but in the end, guess who gets your money. If your retiring and have most of your money in stocks, time to make some scrambled eggs.

 

[UnityNow101]

:trampo::bounce:clap2::jiggy::drunk::jiggy::highfive::band::guitar1:

We should definitely celebrate today. But don't underestimate the tenacity of corporate greed. They'll try to figure another way to rob the American people. Just wait and see how Congressmen start to get paid off.

I have a feeling that we are going to be robbed in the end. They are going to pull out ALL of their tricks to get this bailout package passed. It was nice to see that a majority of the politicians actually voted with the will of the American people for a change. We must keep the pressure on our Representatives...

 

[Sunstone]

Something has to be done about the banking crisis, but at the same time the plan that got voted down had some serious flaws in it. I'm of mixed feelings today.

 

[Engyo]

http://www.religiousforums.com/foru...70798-argument-700-billion-bail-out-plan.html

Psssst - Neo -

This comment was directed at Jehonadab's "let go, let God" strategy, not at the thread in general. Sorry if I didn't make that clear..............

 

[Mike182]

OK, that's cool.

Now, how are you going to re-inject liquidity into the markets?

I would start by liquidating the personal assets of those responsible.

 

[Engyo]

I would start by liquidating the personal assets of those responsible.

Yeah, not a bad idea. It's just that determining responsibility won't be quite so easy as all that................It's always everyone else's fault except for the person you are talking to at the moment.

 

[Alceste]

Something has to be done about the banking crisis, but at the same time the plan that got voted down had some serious flaws in it. I'm of mixed feelings today.

I think you are right. This bill was a rush job - I think congress made the right choice to say no and have a good think about the best course of action. There are a lot more options than Paulson and Bush have let on, and this does not prevent the Fed from mediating takeovers, limited capital injections and selected nationalization of debt on a case by case basis, as they have already been doing.

I think congress has wisely show they are sick of panic policy-making which has festooned the Bush administration's leadership for the past 10 years. They learned their lessons from the Iraq war and the Patriot Act - both of which were crammed through with minimal time to reflect.

 

[Jeremy Mason]

I have a feeling that we are going to be robbed in the end. They are going to pull out ALL of their tricks to get this bailout package passed. It was nice to see that a majority of the politicians actually voted with the will of the American people for a change. We must keep the pressure on our Representatives...

Yes-yes...I said it once and I'll say it gain, Give the public interest for the money they are loaning and the public will support the bill. The financial institution do this to us, why can't we do it to them?

 

[Reverend Rick]

I'm of mixed feelings today.

Be careful what you wish for Phil. You thought the evil Republicans where trying a fast one all the while they put a stop to this bill. First you said we needed this, then you had a change of heart, now you are not sure.

The reason for all this waffling is, there is no right and wrong decision. If we do nothing, no one will be able to borrow anything no matter how perfect their credit score is or how credit worthy they are. These are my customers, without loans they can't build and if they don't build, I lay off my workers and close up shop. The material providers will suffer and the manufacturing plants that supply the suppliers will lay off and close their doors. People will be unable to pay their mortgage and will make the current crisis look like a picnic. These are the people who do work and pay their bills and taxes.

Taxes, we won't be paying much of those if we don't make any money. People will draw out their unemployment and the year after that, society will unravel. Rich folks will be stolen from and poor people might have to turn to crime and go to jail.

Or, we could bail everyone out and go into hyperinflation. Everyone could keep their jobs, work their tails off and receive less each week because of inflation. As I see it, we can lose our home or keep it and not afford to heat it. Tough choice.

I'm waiting for the day when I scan my credit card at the gas pump and it is declined for no good reason other than the bank has no money. Many of us will just walk home and stay there until the bank takes it.

Personally, I will make it either way, but I truly love my employees. They will suffer greatly if something is not done in the next 6 months.