700 Billion Bailout

I don't think the bailout will help most of us at all. The original plan was basically giving money to the people who screwed everything up in the first place and that doesn't seem to promising. I was surprised though that it got voted down. Now the senate added a bunch more money which gives extra money to all their little favorites and it looks like it will pass. Sure seems like the people who made millions off these messes are getting off pretty easily. When Enron had this mess they prosecuted people, now these guys pull this stuff with companies like Fannie and Freddie and we give them more money? Doesn't that seem fishy?

It is ilegal. It circumvents the constitution and creates essentialy a 4th branch of government. This fourth branch is on;y checked and balanced by the executive branch. In addition, it is based on faulty data and alarmism. It has been shoved and strong-armed through the senate and the house now.

Well the reason you cannot get a loan is because of those people who got loans who could not afford to pay back and they got loans because they used guilt to get it. They got the loans and sub prime mortgages because they were Black because if they did not get their loans, they would cry racist! So you and others are suffering because of these people who did not pay. These people should not have gotten a loan or been able to buy a house either. The bill had to be paid because if not, America would be in worse safe. Oh it was not Bush and the Republicans to blame for this mess. It was the Democrats who persuaded that Fannie Mae and these other mortgage companies give out sub prime loan to those who could not afford it. Now house prices are going down. So if you have enough money saved for a substantial down payment, it might be a good idea to try to get a house now.

...wasn't it passed in a night time session in the Senate? Gosh, I'm so out of the loop today. But that's what I heard. *shrugs* From what I'm able to tell, it's very similiar to the old bail out bill, only it has alot of benefits for the upper class tacked on it now and probably other useless crap that helps nothing (like last time, with money tacked on to be spent on other things we can't afford that has nothing to do with our current economic situation). As for what the bill will do, other than bail out banks...I think it'll end up smarting due to the fact that actually more than 700b will be the total once this is all done. And since it's likely we're gonna borrow and just print that money...this equals nothing really that good. Trading problems for more problems. I don't know that much though, because I slept through the news and it happened too late in the day for the internet to have caught up yet. *sighs* In the old bill, the reason why we would've been worse off was this list of reasons: An unelected official would've been given power over the market, and in extension to the rest of us. It'd be rewarding bad behavior from people who've put us all in danger. And last but definitely not least: it would've put inflation through the roof which would've meant the dollar's value would've hit zero...and when you literally have no money, anywhere, because it literally becomes just a piece of paper -- the system collapses. The affects would not have been felt immediately, but compared to some pain and regular trouble in the market...I think complete system collapse is worse, wouldn't you say? If this does not address inflation, this bill, if it's borrowing and printing money...it doesn't really matter if oversight is tacked on and rules are applied to make sure the banks don't screw us somemore for the generosity the government's showing them. I mean of course those things are good, but if it's a giant step in the direction of destruction...obviously it doesn't matter. I'm sure you can guess what that'd mean for you and me. Again, I'm out of the loop though. I have no idea what the words of this bill are, none of us will probably know for awhile. All I know is what the old bill was and meant. Mind you, I hate sounding like a doom and gloom type of person...but this is serious s***.

I don't see anything good about this bill, yes, it will temporarily prop up the market, but for what, a few months? Then we will be worse off. And by giving this money to the rich people on Wall-street we will lose value to our dollar, because this money is just printed, it has no actual value, so it will know down the value we have to our dollar. A depression would at least make the value of a dollar worth more, it would be a little harder to get, but at least you could get more with it and it would compete with other currencies, but we are really making it fail by all this money printing. When the bill was denied the dollar went up a lot, but it will go down I am sure while this goes through. I am really worried though, I am going to Sweden and Spain in December, and I want to buy money ahead of time (cash), but if I buy it after this bill is passed I will be screwed, so I have to somehow jump and buy it now before I will lose a lot of money. Ugh, why can't we just be what we say we are, capitalist... What happened to Economic Darwinism? Why invest in stupid companies.

I find it sickening that the salart for a bank member of any frickin bank was a 7 digit number. It makes me sick that all of these jerks that are trying to save their a** makes more than thousands of "average" americans combined yearly income. Maybe if these banks wouldn't pay all of their employees 6 and 7 figure incomes a year they could have saved their own a**es. You know, their main concern is probably the loss of their income when the majority of Americans could live the rest of their lives comfortably on one year of one of their salaries...