PDA

View Full Version : Who gets caught holding the bag with this bailout thing



SanAntonioSteelerFan
09-29-2008, 04:30 PM
The market crashed like 700+ points today because Congress rejected the bailout. Is this just panic on the part of the people that caused the mess in the first place, panic because they're going to have to be responsible for their bad business decisions without a bailout from "Main Street"?

Or does Main Street suffer too, do we need to give these guys a part of our savings so that we don't lose ALL of our savings? Are we chained to those guys whether we like it or not?

Is it possible for anyone to even know these answers, or is everyone just making it up and hoping for the best?

NKySteeler
09-29-2008, 06:20 PM
I hear 'ya SA.... And my 401K feels the pain...

... I had heard that the reasoning for the vote-down was that there wasn't a clear-cut defined plan on the payback for the loans to insure the financial institutions. Also the bipartisan schpeel given by Pelosi supposedly caused a bit of a stir and contributed to the "no" vote. Now that doesn't do you or I any good, but it's just what I had heard earlier today... No matter how you slice it, I think it is a bad situation. And yes, it will hit Mainstreet soon, if it hasn't already... Personally, I think the bailout should have been approved, but that is just me...


http://img212.imageshack.us/img212/8020/mimeattachmentjb9.jpg

LasVegasGuy
09-29-2008, 08:17 PM
I hear 'ya SA.... And my 401K feels the pain...

... I had heard that the reasoning for the vote-down was that there wasn't a clear-cut defined plan on the payback for the loans to insure the financial institutions. Also the bipartisan schpeel given by Pelosi supposedly caused a bit of a stir and contributed to the "no" vote. Now that doesn't do you or I any good, but it's just what I had heard earlier today... No matter how you slice it, I think it is a bad situation. And yes, it will hit Mainstreet soon, if it hasn't already... Personally, I think the bailout should have been approved, but that is just me...


http://img212.imageshack.us/img212/8020/mimeattachmentjb9.jpg


It will get approved only because the country needs it. To do nothing means you are allowing banks to just close shop and crumble. Not that I am against that because it's their stupid lending practices that got us into this mess anyway. However, if we don't bailout the banks then we are looking at tougher regulations to get credit. This will be bad news for our economy if people don't get out there an spend.

SteelStallion
10-02-2008, 09:49 AM
We get caught carrying the bags, as well as our unborn kids/grandkids. USA doesn't have 850 billion (yes it's 850 and counting with all the lobbyists' earmarks) because it's 13 trillion in federal debt. So feds will do what they always seem to do- put it on the national debt, worry about it later and have the federal reserve print more paper money. Ironically the cycle of debt, credit, printing money (i.e. fiat money) is what causes all this turbulance and history predicts this going back thousands of years. That's why some people who are into ecomomics- Ron Paul and other state representatives, T Boone Pickens, various authors and impartial economists (not political elites)- point the finger at monetary policy rather than current petty politics, banker greed or individual debtors.