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$700 billions bailout had been approved

by vorales
53 replies
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Hi Warriors,

The senate had approved $700 billions bailout plan.

What is your opinion?

Is this the right decision to be taken?

How this will benefits the people around the world?
#$700 #approved #bailout #billions
  • Profile picture of the author jakesworkfromhome
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    • Profile picture of the author Paul Myers
      I'd want to see the summary.

      Do they have breaks on the spending if it hits the goal before they send out the whole amount?

      Can they do it without loosening up credit markets so much that the Fed has to do a delicate dance to avoid sending the whole thing into an inflationary spiral?

      Are there provisions in it to get the government an equity stake in the beneficiary firms, giving us a chance to get (some or all of) our tax money back if it works?

      Did they find a way to set it up so they can renegotiate terms of loans, allowing people to stay in their homes and reduce the overall foreclosure rate? (This is really tricky stuff, given the way the financial instruments behind the problem are constructed.)

      Is there sufficient oversight to keep Goldman Sachs from gaining an unfair proportion of the funds?

      Will this clear up the confusion about reserves at all, allowing banks to know what they have to lend against? (The root of the credit problem.)

      Too many questions, not enough answers yet.


      Paul
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  • Profile picture of the author Re-cycle
    This is Madness!!! Madness? ...... This is USA!!! (not Sparta)
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    • Profile picture of the author ildarius
      Experts say that conventional advertising media will see a decline.

      Only on-line will remain strong. Already on-line advertising suprases that of Television
      and we're going to be seeing an even bigger shift soon.

      Companies will spend less on paper prints, TV and Radio and more on On-line advertising...

      Real question is THAT good for us??
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      • Profile picture of the author Tuzic
        Banned
        hi,

        im not sure if this will work or not, but right now there dont seem to be many options so we should apppreciate this, dont u think?
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  • Profile picture of the author samstephens
    I've only seen bits and pieces of it on the news here in Australia. I realise it's a VERY complicated situation, but basically what is going on?

    Who's the 700 billion going to, and why did they need it in the first place?

    I'm not sure if there's an easy answer to that or not, but I'm curious

    cheers
    Sam
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  • Profile picture of the author bozz723
    Well -

    It has to go back through congress so it isn't approved yet. We need this to fail - if not america is fully socialist and there is no semblance of a free market anymore.

    Good night, and good luck to those of you who support these "leaders" blindly. Look where it has taken this "free" country.
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  • Profile picture of the author LB
    The Fed already prints money like drunken sailors...this 700 bill is really nothing compared to the liquidity they already pumped in.

    This bill is ALL about power-grabbing and sneak attacks. It is now over 450 pages long...

    This bill needs to die and never come back.
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  • Profile picture of the author Andyhenry
    The whole situation makes me sick.

    This was engineered by greedy sales people and everyone in the chain decided to take a bite at the pie - when there was no pie left, the government use the tax payers money to bake another one.

    This debt was caused by mis-selling mortgages to people who could never afford to pay for them - it shouldn't have ever happened.

    The fact that the government are now taking over some of the financial institutes and bailing-out others just makes the whole thing even worse.

    I'd rather see the economy collapse and rebuild it properly without the massive reliance on putting people into debt that it currently has.
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    nothing to see here.

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    • Profile picture of the author Steven Wagenheim
      Originally Posted by Andyhenry View Post

      The whole situation makes me sick.

      This was engineered by greedy sales people and everyone in the chain decided to take a bite at the pie - when there was no pie left, the government use the tax payers money to bake another one.

      This debt was caused by mis-selling mortgages to people who could never afford to pay for them - it shouldn't have ever happened.

      The fact that the government are now taking over some of the financial institutes and bailing-out others just makes the whole thing even worse.

      I'd rather see the economy collapse and rebuild it properly without the massive reliance on putting people into debt that it currently has.

      Andy, I know we don't agree on a lot of things, but you are dead spot on
      as far as this one goes. That is exactly what the problem was. Back when
      I bought my home, 20 years ago, I would have never been able to get
      the kind of credit people get today. We had to get our inlaws to give us
      a $10,000 gift in order to qualify and we both had good paying jobs at
      the time.

      What the greedy businesses have done to my country is a crying shame.
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    • Profile picture of the author Ricter
      Originally Posted by Andyhenry View Post


      I'd rather see the economy collapse and rebuild it properly without the massive reliance on putting people into debt that it currently has.
      It would be nice if you could count on a clean, speedy rebuild after collapse, but history indicates that you can't count on that. Social chaos, anarchy are real possibilities. Alternatively, tyranny. In my opinion our populations could easily swing either way, owing to a widespread feeling of entitlement (think angry brats acting out), and an eager willingness to trade freedom for security (consider the rise of an all powerful, protective, "father").

      Another problem is time. Some societies have taken generations, centuries even, to achieve decency again. For others, their best is long behind them, with no sign of a comeback.

      I think a bailout is probably the prudent move to make, but it's angering to think that the holders of capital, so desperate to rent it out that they've made this terrible mess, will probably not themselves pay a price of hardship.

      My 3 cents (inflation).
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  • Profile picture of the author tommygadget
    The two Democrats who were twisting banks' arms to make politically correct loans have their fingerprints all over this bill. You tell me if it's a good idea.

    TomG. - Bailing out their friends over at Freddie Mae/Mac.
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    • Profile picture of the author Devan Koshal
      I thought all the money would go to the big banks? because they have given out loans to other banks and them to other banks and them to other banks etc.... eventually to end clients who cant afford to pay the money back so the bigger banks lose their money.

      please tell me if im wrong lol trying to understand the whole thing thats what i have been told lol
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  • Profile picture of the author LB
    The banks are getting "free" money from the Fed so they can turn around and loan that money to us...at interest of course.

    And where does that "free" money come from? Well, the same taxpayers of course.

    Sick scam.

    All of this inflationary spending is killing the dollar, it will be worth nothing soon.
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  • Profile picture of the author dcmarketer
    I just got finished watching Letterman (yes we get that here in New Zealand too) and it had the director of the world food program on it...

    Letterman - Support Haiti - WFP

    ...the director stated that to ensure every person on the planet had at least one cup of food per day they would require $3 billion dollars annually (that's the approx total annual GDP of our entire country of 4.3 mill people here down under).

    Crunch the numbers on that $3 billion in terms of the bail out package and see what happens.

    Take this into consideration - bail outs aside...

    Military budget of the United States - Wikipedia, the free encyclopedia

    ...and it just blows my mind where the United States priorities are.

    Food (or lack there of) for thought.

    Best...

    Duncan Carver

    PS: This would certainly be one good way to improve the US image globally and so so doable it is beyond a joke.
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  • Profile picture of the author cypherslock
    Terrific. Just what we need, another socialistic country like Canada. Don't get me started. My friends all tease me for being a "bootstrap conservative" I wasn't sure what that was til they explained. I believe that anyone regardless of circumstance and make themselves successful. ANYONE. And I hate the fact that the more successful you are the more you are punished with tax in my country. I don't mind paying SOME. But not the 30-50% that we have to pay. It's my money that I worked hard for. No one else's.
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  • Profile picture of the author derekwong28
    When you look at Bailouts that have worked, they usually involved money from other countries (e.g. IMF), not with domestic money that is printed. The big fear is that if it doesn't work, it will lose credibility with all foreign investors who will withdraw their money quickly. So that you will have very high interest rates that are beyond the FED's control.

    I think it was a grave mistake to let Lehman collapse. It has put the financial systems of a lot of other countries into trouble. These are the countries who can help but are now unable to because they are in such as mess themselves.

    -Derek
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  • Profile picture of the author Christopher R Everson
    A few things astonish me.

    1. How can such huge, out of control, publicly traded companies and banks continue to lose money on an epic scale and it's only until they literally collapse that you hear anything about it? Or have they been reporting staggering losses, and no one listens until the end?

    2. That SO many, UNDER QUALIFED, UN EDUCATED, COMPLETELY OPINIONATED people continue to point figures and speculate on something 99% of know next to nothing about.

    These senators, these politicians, financial advisors, everyone involved, you can bet almost all of them have a pretty impressive pedigree that got them where they are. It's not like bush whipped this idea up when he was in the bathroom one night, a lot of planning goes into this.

    I hope the bailout goes well. At one point my mom was considering a new home, about 2 years ago. She was making roughly $30,000 a year, and my father at the time was making about $40,000 a year. They got approved for a $280,000 mortgage. She told me the interest payments alone would have been every single penny they could have spared. They told the person giving the loan that, and he pretty much said "yeah, that's how it's supposed to work I guess".

    There are a lot of people to blame for this I think, and the average person is one of them. It's easy to say "the bank shouldn't have gave the money, it was too good to be true". We should have stepped back and said "wait, am I really just going to pay the interest the rest of my life? Are there balloon payments in the fine print? What is wrong here".

    If I'm looking at getting a $80,000 bmw at a dealership, they do a credit run, and tell me I'm approved to get a $240,000 ferrari, you better believe I'm gonna look at all the fine print, all the payments, every single bit of that, and I'm personally shocked the average consumer wouldn't with a freakin house.

    Oh well, when one thing is down, another is up. There are people buying $200,000+ houses by paying back taxes, and then auctioning off for tens of thousands. The people with capital and a keen eye are laughing to the bank every week right now I suppose.
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    • Profile picture of the author derekwong28
      Originally Posted by Christopher R Everson View Post

      A few things astonish me.

      1. How can such huge, out of control, publicly traded companies and banks continue to lose money on an epic scale and it's only until they literally collapse that you hear anything about it? Or have they been reporting staggering losses, and no one listens until the end?

      2. That SO many, UNDER QUALIFED, UN EDUCATED, COMPLETELY OPINIONATED people continue to point figures and speculate on something 99% of know next to nothing about.

      These senators, these politicians, financial advisors, everyone involved, you can bet almost all of them have a pretty impressive pedigree that got them where they are. It's not like bush whipped this idea up when he was in the bathroom one night, a lot of planning goes into this.

      I hope the bailout goes well. At one point my mom was considering a new home, about 2 years ago. She was making roughly $30,000 a year, and my father at the time was making about $40,000 a year. They got approved for a $280,000 mortgage. She told me the interest payments alone would have been every single penny they could have spared. They told the person giving the loan that, and he pretty much said "yeah, that's how it's supposed to work I guess".

      There are a lot of people to blame for this I think, and the average person is one of them. It's easy to say "the bank shouldn't have gave the money, it was too good to be true". We should have stepped back and said "wait, am I really just going to pay the interest the rest of my life? Are there balloon payments in the fine print? What is wrong here".

      If I'm looking at getting a $80,000 bmw at a dealership, they do a credit run, and tell me I'm approved to get a $240,000 ferrari, you better believe I'm gonna look at all the fine print, all the payments, every single bit of that, and I'm personally shocked the average consumer wouldn't with a freakin house.

      Oh well, when one thing is down, another is up. There are people buying $200,000+ houses by paying back taxes, and then auctioning off for tens of thousands. The people with capital and a keen eye are laughing to the bank every week right now I suppose.

      Christopher, I really would not blame the ordinary person too much for this mess. I would blame the property speculators, property agents, in addition to the greedy bankers, as well as the feds and politicians for not regulating the market well enough. The fact when house prices are rising sooooo rapidly, you are scared into buying one because it may go up even more in a few months' time. Property agents would commonly use these scare tactics on unsuspecting buyers.

      If you look at the housing records, it has been decades since house prices in the US have dropped nationally. The problem is that the financial system was not prepared for any drop in prices. House prices drops of 20-30% are quite mild in many countries, it is not uncommon for prices to drop that much wihing a few months in Asia. We ourselves survived a 70% drop in prices without compromising our banking system. The reason was that banks were required to to take a 30% deposit and there was scrupulous vetting of income statments.

      -Derek
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      • Profile picture of the author jstover77
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        $700 Billion?? Divide that by how many people are on this planet? We would all be billionaires. LOL
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        • Profile picture of the author Dan Thompson
          Originally Posted by jstover77 View Post

          $700 Billion?? Divide that by how many people are on this planet? We would all be billionaires. LOL
          There are only 700 people on the planet? ;-)
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    • Profile picture of the author gareth
      Originally Posted by Christopher R Everson View Post

      A few things astonish me.

      1. How can such huge, out of control, publicly traded companies and banks continue to lose money on an epic scale and it's only until they literally collapse that you hear anything about it? Or have they been reporting staggering losses, and no one listens until the end?

      2. That SO many, UNDER QUALIFED, UN EDUCATED, COMPLETELY OPINIONATED people continue to point figures and speculate on something 99% of know next to nothing about.

      These senators, these politicians, financial advisors, everyone involved, you can bet almost all of them have a pretty impressive pedigree that got them where they are. It's not like bush whipped this idea up when he was in the bathroom one night, a lot of planning goes into this.

      I hope the bailout goes well. At one point my mom was considering a new home, about 2 years ago. She was making roughly $30,000 a year, and my father at the time was making about $40,000 a year. They got approved for a $280,000 mortgage. She told me the interest payments alone would have been every single penny they could have spared. They told the person giving the loan that, and he pretty much said "yeah, that's how it's supposed to work I guess".

      There are a lot of people to blame for this I think, and the average person is one of them. It's easy to say "the bank shouldn't have gave the money, it was too good to be true". We should have stepped back and said "wait, am I really just going to pay the interest the rest of my life? Are there balloon payments in the fine print? What is wrong here".

      If I'm looking at getting a $80,000 bmw at a dealership, they do a credit run, and tell me I'm approved to get a $240,000 ferrari, you better believe I'm gonna look at all the fine print, all the payments, every single bit of that, and I'm personally shocked the average consumer wouldn't with a freakin house.

      Oh well, when one thing is down, another is up. There are people buying $200,000+ houses by paying back taxes, and then auctioning off for tens of thousands. The people with capital and a keen eye are laughing to the bank every week right now I suppose.
      Thats because we are all lazy, ignorant and complacent
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      • Profile picture of the author myob
        Hey, it happens. Remember the Savings and Loan bailout of the 1980's? Investors made fortunes from the subsequent stock and real estate run up. It's an investors' dream right now. And if you can't afford to take advantage of low stock prices or real estate right now, you will have another chance. This will happen again in 2011. You can take that to the bank, and any bank will do just fine right now.
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  • Profile picture of the author dvduval
    I believe we needed a package. So long as credit markets remain frozen, the losses would start to be in the trillions, far more than the cost of the bailout package, and affecting far more than the banks that were exposed.
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  • Profile picture of the author Henry Artz
    They don't have any other choices so i agree.
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    • Profile picture of the author Collette
      You know what the biggest irony is?

      Osama bin Laden chose the World Trade Center as a target specifically because he knew nothing would bring America to its knees faster than a complete disruption of its financial heart. He knew that a collapse of the financial system would destroy America.

      Osama failed. And if he's still alive, he must be laughing his ass off right now. Paulson, et al have done exactly what Osama set out to do.

      Makes you reconsider the definition of "terrorist", don't it?

      It's bend over time, people. We have no choice. If we don't pay over the $700 billion "gun-to-the-head-ransom", the Great Depression will look like Baby Gymboree in comparison to what will happen to most Americans.

      So we HAVE to take this pork-padded 450 page piece of shit and call it buttercream cake.

      Does this piss me off?

      Don't even get me started...
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  • Profile picture of the author Clark
    I like what Lou Dobbs had to say about this topic:

    Lou Dobbs: Hooray for those who defeated bailout - CNN.com
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  • Profile picture of the author Scott Ames
    What a mess. I'm just disgusted with everyone on this thing. Those who were supposed to be watching for icebergs either didn't see them, weren't watching, or didn't care.
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  • Profile picture of the author robertduffy
    So the government is bailing out banks and business that make the higher ups more money. hmm. Must be nice, the damn government isn't going to help any of us out. Think of all the people who can't feed their families because of all the price increases the government is initiating. Older people on fixed incomes, they are having the hardest time in all of this. Where is the government? Oh ya, we are giving all of are money to fund a WAR in countries that have nothing to do with us. We have enough oil in this country to last for hundreds of years, and by then we won't need it.
    I just have to say, watch are taxes, go SKY HIGH!
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  • Profile picture of the author reclusivecopy
    It makes me sick to see the Politicians positioning just because it's an election year. The Dems could have passed this last week. It's causing a huge ripple in our economy. Lending is frozen and I'm not sure if this bill will free things up any time soon. It's sad that our economy can take such a big hit over high risk loans that should have never been given out in the first place. We're in for some hard times. Whoever becomes President is going to have a challenge pulling us out of this mess.
    The worst is yet to come. Start lining up for your bread.
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    • Profile picture of the author Indiana
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      • Profile picture of the author TimPhelan
        But Indy, from my understanding of this, it isn't a loan. They are buying assets.

        Originally Posted by Indiana View Post

        From our pal Finhawke...

        Did They Tell You That The 700 Billion Bailout Is Really 7 Trillon?
        by finhawke @ 2:19 am.


        Yes, that's SEVEN with-a-big-T TRILLION!



        How can that be?

        Did They Tell You That The 700 Billion Bailout Is Really 7 Trillon? » Top Secret Money Lab


        Indy
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        • Profile picture of the author glchandler
          The problem intensifies when this bill is passed in order to "buy assets". With fannymae and freddiemac loans already guaranteed by the federal government this $700 +billion only serves to give the government ownership of at least 60 --70% of homes owned in America.

          This bill only allows the USA an opportunity to slide down the slippery slope into Socialism a bit farther and a bit faster.
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        • Profile picture of the author gareth
          Originally Posted by TimPhelan View Post

          But Indy, from my understanding of this, it isn't a loan. They are buying assets.
          If they are buying assets -- that means they dont anticipate property prices will come down.

          That means they dont intend to fix the problem but to make it worse to recover their money.

          Isnt the problem speculation in property and basic commodities such as energy and foodstuffs, which has created a false economy.
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  • Profile picture of the author bendiggs
    Drastic steps must be taken in order to help the American economy, and if the bailout is the correct step or not, it is the only viable policy that has been presented so far. So many people claim that the solution presented won't work, but no one else is doing anything, and our policy of doing nothing has gotten us to this point. Some solution is better than no solution right now, even if it may not be the best or final solution, the hope is that it is a step in the right direction.
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  • Profile picture of the author rwil02
    Hi Paul

    Seen what Clayton Makepeace says about the causes?

    A Conspiracy of Imbeciles | The Total Package

    He makes it sound more like the financial institutions were forced into it.

    As for opinions.
    I think it won't work. The rest is merely a matter of timescales.
    The US, and the rest of the world is 40-60 years overdue for a deflationary cycle. and they used to happen every 40-50 years. The longer you prevent something, the bigger the rebound.

    I'm actually not certain the US will exist in its current form in 30 years anyway.
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    • Profile picture of the author TimPhelan
      Originally Posted by rwil02 View Post

      Hi Paul

      Seen what Clayton Makepeace says about the causes?

      A Conspiracy of Imbeciles | The Total Package

      He makes it sound more like the financial institutions were forced into it.
      That's the Republcan's spin. It doesn't fly and is BS. They're trying like hell to make it it fly though.
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      • Profile picture of the author HeySal
        There are already several threads about this -did you get hijacked here from the Main forum?

        The original package - which was about as fascist, and illegal as it could get, did not go through because people were crashing servers, phone and phone lines telling their legislators that they would be out of jobs if they voted for this fiasco. The bill did not go through -- but don't be disappointed with our wanna be dictatorship - they have revised a new "improved" package that has been passed in the senate and is threatening to pass congress unless we can get equal amounts of ire and election threats to stop it.

        The new bill is 850 bil and buys stock car racers, and other such luxury industries as well. If this goes through we are looking at a whole new dimension in the nightmare -- our gov taking over free trade - a step into fascism. We are so screwed if people don't keep those phonelines to their legislators lit up and the servers melting - and that might not stop them either. Do some reading on 1930 - 40 history and you will pray to the porcelain for days if you read this bill. Goodnight America.
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        • Profile picture of the author myob
          Who cares? Just make some money now and worry about the criminals later. It's just about time to buy bank stocks again. Citigroup and JPMorgan Chase are particularly attractive right now once all the bad debt is removed by the bailout. These banks are going to be able to grab market share at arguably bargain prices. More market share means that these surviving firms have stronger growth prospects in the future.
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      • Profile picture of the author rwil02
        Originally Posted by TimPhelan View Post

        That's the Republcan's spin. It doesn't fly and is BS. They're trying like hell to make it it fly though.
        Interesting you'd say that.

        I don't know the difference between the parties. But I do know that in the post he blamed the Republicans for allowing it to happen without kicking up a fuss.

        And from previous ones, I think he's actually a Civil Libertarian.

        Personally, I'm a favour of being a co-operative anarchist The unfortunate problem with that is that it requires people to think on a permanent basis, and I don't believe we're capable of it.
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        • Profile picture of the author TimPhelan
          Originally Posted by rwil02 View Post


          Personally, I'm a favour of being a co-operative anarchist
          Sounds like an oxymoron. How does that work?

          I don't know the difference between the parties. But I do know that in the post he blamed the Republicans for allowing it to happen without kicking up a fuss.
          I think both parties are to blame. What some of the Republicans are trying to do is put all of the blame on the CRA which was passed under Carter to stop descriminating "redlining" tactics by mortgage companies. Then they want to blame Clinton for changing the ACT in the 90s. Then they blame Dodd and Frank for blocking legislation they say would have stopped the meltdown. The truth is the CRA may have contributed to the problem ( or may not have ), but only a relatively small percentage of the subprime loans were CRA loans, and there is plenty of blame to be placed on the Republicans. In fact most Dems would blame it all on the Repubs which isn't right either.

          Personally I place more of the blame on the Repubs for their deregulation mantra of the past 30 or so years. Then again I am a Democrat.
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          • Profile picture of the author rwil02
            Originally Posted by rwil02 View Post

            Co-operative anarchist
            Originally Posted by TimPhelan View Post

            Sounds like an oxymoron. How does that work?
            An anarchist is opposed to formal government, which I am on the basis that they tend to accumulate ecess power over individuals. Actually, I kind of like the defintion of the purpose of government in "War Against the Chtorr" - The purpose of a government is to prevent you causing harm to others, apart from that you should be able to do what you want.

            The "co-operative" bit is that we should still realise that it is most often beneficial to ourselves and others to act for a common purpose. Roads, hospitals, anti-graffiti campaigns, space travel, there are a vast majority of things that are beneficial which no individual could reasonably hope to attain on their own.

            Practically speaking, it's probably not much different from libertarianism.

            Originally Posted by TimPhelan View Post

            I think both parties are to blame. What some of the Republicans are trying to do is put all of the blame on the CRA which was passed under Carter to stop descriminating "redlining" tactics by mortgage companies. Then they want to blame Clinton for changing the ACT in the 90s. Then they blame Dodd and Frank for blocking legislation they say would have stopped the meltdown. The truth is the CRA may have contributed to the problem ( or may not have ), but only a relatively small percentage of the subprime loans were CRA loans, and there is plenty of blame to be placed on the Republicans. In fact most Dems would blame it all on the Repubs which isn't right either.

            Personally I place more of the blame on the Repubs for their deregulation mantra of the past 30 or so years. Then again I am a Democrat.
            LOL. That sounds far more reasonable than most folk
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    • Profile picture of the author Jared Alberghini
      It's actually 7 Trillion when you factor in fractional banking

      In my opinion, the entire monetary system needs to fail completely and be rebuilt from the ground up.


      Originally Posted by rwil02 View Post

      The US, and the rest of the world is 40-60 years overdue for a deflationary cycle. and they used to happen every 40-50 years. The longer you prevent something, the bigger the rebound.
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  • Profile picture of the author Patrician
    Be sure to watch these - not that the parties matter at all, dontcha know. But the blame is really pretty clear.

    http://www.warriorforum.com/off-topi...al-crisis.html
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  • Profile picture of the author acreativetouch
    Correction: it's actually $11,315,000,000,000. There was a clause in section 10 that allowed the fed to increase the outstanding balance without any oversight.

    Gas Shortages In Georgia, Tennessee And South Carolina - KYPost.com

    Sec. 10. Increase in Statutory Limit on the Public Debt.
    Subsection (b) of section 3101 of title 31, United States Code, is amended by striking out the dollar limitation contained in such subsection and inserting in lieu thereof $11,315,000,000,000.

    I just saw CNBC, said the feds have just loaned the banks an additional $900 Billion! Where do you think that money came from?
    Right out of taxpayers pockets.

    Here is another story on that $900 Billion:

    http://www.cnbc.com//id/27046446
    "In all, the Fed said $900 billion in TAF (Term Auction Facility) credit would be available for year-end needs."

    The bailout did not work, the crisis is expanding into global markets. The extra $900 Billion was in response to the bailout failure. Expect many more increases as the fed uses that remaining $9 Trillion that Americans unknowingly gave to them..

    Yep, my great, great, great, great, great, great, great grandkids will really be grateful to this generation for our tremendous wisdom and foresight!

    Dorothy
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    Dorothy Carlson
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    • Profile picture of the author HeySal
      Well then Dorothy - maybe that was the silver bullet that finally allows the American people to understand what has just been done to us -- purposeful ruin in the name of a Fascist dictatorship. Whoopie.
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      • Profile picture of the author acreativetouch
        Originally Posted by HeySal View Post

        Well then Dorothy - maybe that was the silver bullet that finally allows the American people to understand what has just been done to us -- purposeful ruin in the name of a Fascist dictatorship. Whoopie.
        Since Clinton's first year in office, I stopped voting mainstream and re-registered as Independant---when he got elected, I felt like this country was over. What's so tragic is seeing it fall before my eyes, and most Americans are totally unaware to what's going on. I've spoken to folks at synagogue who are far better educated than I am and they are clueless!

        I've spoken to my Rabbi about setting up a hidden fund and to start building underground communities in remote areas of the US JIC, also to make agreements with Israel JIC we need to GET OUT. He didn't listen, because he doesn't believe it will happen here.

        As I'm watching this unfold----it reminds me of what I've read in the history books in the 1930's just as Hitler was coming to power. How easily we forget! With those who perished in Europe ( B'SD memory) this whole thing caught them by surprise. We are without excuse.

        My prayer is that people WAKE UP!!! as it may already be too late.

        Dorothy
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        Dorothy Carlson
        Phoenix Natural Health

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  • Profile picture of the author chrisnegro
    This bailout is causing such a psychological stirr....that MANY BORROWERS WILL THROW UP THEIR HANDS...KNOWING THE LENDERS WILL RENOGIATE TERMS OF THEIR MORTGAGE NOTES....what they did will only increase the rate of foreclosures....

    JMHO !

    Cheers,

    Chris Negro
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  • Profile picture of the author derekwong28
    No, you don't really have to go back to the thirties to take lessons. The most recent lesson was Japan, which had the greatest stock and property bubbles that the world has ever seen, and since it popped in 1989, they are still paying for it.
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    Do not get between a wombat and a chocolate biscuit; you will regret it dearly!

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  • Profile picture of the author bendiggs
    Severe economic crisis in Germany led to Hitler being given more than enough power to rise to the levels that he reached. There are some comparisons to be drawn to us, but it is hardly the same thing, and I doubt that ayone would allow a knuckle dragger like our President that degree of power.
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  • Profile picture of the author derekwong28
    That -777 drop in the Dow has been exposed for what it is, simply a blackmail to get the bailout plan approved. Now, once it has been approvded, the Dow has plunged far below that!
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    Do not get between a wombat and a chocolate biscuit; you will regret it dearly!

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  • Profile picture of the author Lukmus
    It can will give force to economy?
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