Please explain why you support the bail out and what are the alternatives

Alexandria, Virginia
September 29, 2008 9:03pm CST
Please explain why you support the bail out and what are the alternative write like you had the direct ear of obama or McCain
1 person likes this
3 responses
@missybal (4490)
• United States
30 Sep 08
Well I do not support the bail out. Several expert economic minds have other ideas that do not come directly out of our pocket. I do not think that this is going to break our economy. Yes the dow is down because people don't want to gamble when they don't know what the heck is going on. If congress would not have been playing the blame game and all and had kept calm and not stired up more fear then people would not have been screaming sell as much as they have. I like Dave Ramsey's Idea, His statement... Change the market accounting rules. Do away with the capital gains tax, which will cause money to flood into the market instantaneously in 24 hours. Last, if we do need to do some insurance of some of these bonds, we can insure them rather than just buying them all. Only 7 percent of them are in foreclosure, while 93 percent of them are paying, so why are we buying them all—so we can make Paulson king? Thanks to Dave Ramsey my husband and myself should be debt free in just about 4 more months. I value his opinion and I do see where his plan is much better or at least worth a shot because it certainly can't hurt.
1 person likes this
@evanslf (485)
30 Sep 08
Well understandably the majority of the American people are against the bailout, particularly bailing out the city fat cats. I am mad at how we got into this situation, the irresponsibility of the bankers and the failure of our government to regulate them properly. But despite my anger, I also recognise the abyss when I see it. We need to restore confidence in markets and in the banking system but not by simply giving a blank cheque. No confidence means that there is only fear, and fear can have very dangerous consequences, particularly in a global market. Any bailout should have a number of conditions attached to it (like no golden handshakes and bonuses for failure, congressional oversight, the money not to be handed over all at once and stipulations requiring that this money be paid back to the taxpayer when things improve, etc.) Now the plan no doubt wasn't perfect and perhaps it could be improved upon (I quite like the Republican idea of the banking sector / traders paying insurance), but I think the insurance point that is favoured by Republican congressmen is certainly a valid way of dealing with things in the future, but I'm not sure it will help in the immediate now. So I think we need to do something but look at the insurance proposal as well. I have to say congress was at its worst yesterday. Pelosi did not help with her partisan speech and there has simply been too much partishanship all around. For God's sake work together just this once and get things done. I very well understand the concern at not writing blank cheques, but we should heed the lessons of history (the 1930s) and not repeat past mistakes. Also, if this bailout package is handled well, it is quite possible that at the end of the day the taxpayer may not be much out of pocket and indeed might even make a small profit.
@missybal (4490)
• United States
30 Sep 08
Kennyrose thank you again. I was too tired last night to get all that information with names and all together in order to properly respond to the bail out. Please get this out as much as possible. It's terrible because the Democrats who ignored it in the first place are blaming the Republican's who were warning them to begin with. I know their are clips too somewhere of the hearing. Honestly no one can convince me there is the crisis that the democrats want to say there is and that 68% of people against the bailout has only lowered to that point because of the fear the democrat heads of the House and the Bush Administration are putting out there. I checked today I can still get a loan mainly this is just going to affect the people who really shouldn't get a loan. Companies go under all the time. It's because of passing new bills without thinking that got us into this mess. And the Democrats in the two years they have had the majority have taken us over the edge. Not all democrats... but the good ones tend to not speak up. And Obama is to blame, he's used his campaign to raise more fear. People say they can't believe that McCain said the fundimentals of our economy is still strong. I believe that otherwise we would be in a depression right now. If the people we look to for guidance say everything is going to hell all the time than of course it's going to affect the markets, and because of the fear put in America's when the first bank went down and the way our government reacted caused a rush on the banks, and when people take their money out of the bank it causes the bank to go under.
@dlbruce85 (110)
• United States
30 Sep 08
It's the Federal Reserve Bank's rapid inflation of our money and manipulation of interest rates, as well as the creation of financial bubbles, that have gotten us into this mess. There are a number of people who have warned about this for years. Actually Thomas Jefferson and Benjamin Franklin also warned about the central bank and how corrupt it is. When the government gives up control of it's currency, it essentially gives up control of the economy. If we operated as a free market, we would not be in the position we're in. It's the Fed's banking schemes and the government's over-involvement that secure our future as a 3rd world country. The central banks have done it all over the world, it's an old formula for fascism dating back to the late 1700's in Europe. They bought us from Woodrow Wilson in 1913 with the passing of the Federal Reserve Act and we've been guinea pigs ever since.
@snowy22315 (101881)
• United States
30 Sep 08
I support the bailout but I dont think the ceo's should get more than 100,000. Without the bailout things are just going to get worse with the economy. You might have massive lay offs and see people with signs will work for food. It could be similar to the great depression. I'm not willing to have that much of a problem with our economy. It might happen anyway, but hopefully the bailout will buy some time. I would say that to the canddiates, They dont have much control over what is going on now though,