Really? Another Bailout? When will it end?

Let them fail. If the government insists upon continuing to bail out these companies than I believe we, the people, must insist upon oversight. Not government oversight either. The government have proven themselves unworthy, incapable of balancing a budget, untrustworthy with our money. There must be a non-partisan oversight organization established of people from business, finance, economics, and education who are able to audit and perform the necessary cleansing of these bloated organizations. The boards must be taken over. The CEO's along with much of the upper management must come under scrutiny. The compensation must be adjusted to reflect reality and contribution. The pay for the oversight organization must be enough that they won't be tempted by bribes but not so much that they are just another bloated group of do nothings. Any organization asking for bail out must submit to the rules of engagement. I would suggest that everyone read Ayn Rand, this is Atlas Shrugged and I want to escape.

Considering Poulson isn't even sticking to the purpose of the first one, admitting openly it didn't do what he swore up and down to congress that it would, the answer is a resounding NO. Hell, I'm going to get in to this line myself with my hand out, I want a bail out. Cripe What bugs me most is that this was never about rescueing or bailing out deep dwon, it was about a power grab by an entity that already had far to great an unconstitutional power over money to begin with, and the factthat Poulson is changing the game in the middle of the game pretty much tosses the idea that there is oversight and control in it right out the window. There is a series of protests are planned on November 22nd, in something like 39 cities, to end the federal reserve entirely. Bill to do just that was introduced in congress but was passed right over.

I was against the first and second bailouts and I'm just as against this one. I'm pissed that all three of the candidates involved voted for it. Obviously Palin wasn't part of that which is why I said three. Part of capitalism is that the strong survives. This isn't about regulation or deregulation, it's about companies that fail and how other companies rise to take their place. Too much government involvement led to this problem and more government involvement is NOT the answer. Especially when that involvement means wasting taxpayer dollars that are already insufficient to cover our governments expenses. [/rant]

In the case of financial companies, such as this and the mortgage companies, I feel they should just let them fail - they loaned money to and gave credit cards to people with little or no income and no possible way of paying - they deserve what they get. Isn't American Express the one that is supposed to be for all the people with good credit and they pay the balance off every month? Could it be that all those people with wonderful credit weren't as trustworthy as everyone thought? Seems like that ever popular credit score isn't the reliable indication that everyone touted it to be.

There is no personal responsibility left anymore. I think a lot of people will get swept up in this money wave and ride it all the way to being debt free. They may escape with their shirts on this but those who don't require a frickin hand holding from the government will be able to hold their heads high. I'm one of them, I don't want anything from the government, I can do it myself and teach my children responsibility and honor at the same time.

You have to look at it on both sides. People applying for Credit Cards, using the money at their leisures and don't want to pay back. What should be done is a law to pass that if one does not paid up their loans then they will either work for free until they repay it or go to prison. Anyone doesn't like my response and want to vote me negative can go ahead. Taking a credit card and using it to do everything is a responsibility. What do one expect that the money should not be repay. The C.E.O.'s who steal from the companies and living high rolling lives should also pay back what they have taken. Some of them give themselves high salaries for doing nothing. These things should be stop. There is a saying that goes, "the richer will be richer while the poor are poorer". Everything one does comes with penalty and we need to acknowledge that.

you may not agree with me. If these business fail, do you think they will fail alone. They will fail with damaging all other people associated with it. The bailout may sound stupid, but think of those who will lose jobs, they are simple people like you and me. so is it still very much stupid than pains of these peopel plus who lose their money when these business fail?

It'll end either with a bang, or with people shouting at the gates. That's the only way I see this ending. I mean, before...when presented with the whole bail out idea we knew that if we did this or didn't...we'd be on the edge of potentially spurring a depression. EITHER WAY, it could possibly equal the same or worse result! So...I never supported the bail out. Because bailing out companies, banks...you're printing and borrowing that money. You're not actually getting it from the taxpayer. Which MEANS that you're slowly destroying what's left of the dollar and alienating the global market as you also kill your reputation and mount a debt we may never see the end of. Also because it's not right to reward those who helped cause the problem. To reward those who have ended up destroying people's lives.

It probably won't end until there are no businesses left to bail out! Many of the banks that got money from the government used it to buy other banks, apparently in part because they're able to buy a failing business and use it as a tax write-off and therefore not have to pay any taxes. I heard that wasn't allowed until recently when the Department of Treasury changed the loophole so they can. American Express was a bit of a surprise to me since it's always been more of a high end company not known for giving credit to just anyone but these other banks and credit card company deserve everything they get. I agree there are plenty of people who have gotten themselves deep into debt because they've been irresponsible and lived beyond their means but at the same time these CC companies have used super low interest rates and all kinds of other perks to lure people in only to zap them with outrageous fees and upping their rate to 30% if their payment is received after 8 AM on the due date. Then there are all these companies that have gotten money from US but still pay their CEO's eight figure salaries and bonuses for running the company into the ground. What am I missing? Annie

I understand you complaining about bailing out these companies and I am not sure if this is the right way to solve the problem or not BUT if the companies are allowed to fail then it would cause a crash that would bring down the entire world economy not just a couple of companies. You are talking about global giants here not just little corner shops. The world economy is built on credit and while there are some safeguards, if you remove enough cards the entire house will crash and burn and that will hurt far more than the cost of bailing them out.

Yes,i feel the same way you do,these businesses should be allow to go belly up,but, we americans have become dependant upon the government to be everything even the wizard of finance...we are the age of instant gratification...so our government must bailout these bad business people becuase this is what we all have become "Government Dependants"... We all want Government handouts...it's sad but true we have become that a way...It's not just the poor people anymore it's everybody...

I don't see why we are bailing out American Express, why can't they just be allowed to go to the wall? I'm getting increasingly angry at how this whole bailout thing is being managed. Now I can understand the point that we might have to bail out a major bank as the knock on effects on the economy could be too severe to contemplate, but I don't see how this logic applies to a credit card company. We have to draw the line somewhere, we don't have an unlimited pot of gold for the fat cats to dip into.

It's not going to end anytime soon as long as it's still profitable. Bailouts are good business and make lots of money for the people creating the money. It devalues our currency, but that's okay, because before it's devalued, huge profits are made off of it. Watch the movie Zeitgeist Addendum for a better explanation at www.zeitgeistmovie.com Wealthy get wealthier, Middle and Lower classes lose ground. Happy MyLotting!

Although they are saying the nation's economy has improved for the first time in 5 months in September, they are predicting that this is short-lived. So the bailout plan isn't working the way they thought it would. So does it really make sense to keep bailing these companies out? Heck no. I've also heard rumors about the auto industry is requesting bailouts. I think some of these companies need to fail and experience some humiliation.

I find it funny that some people still try to argue that the American system is still capitalist. With all the government interference and bailouts, the American system is more socialist than anything else. When top U.S. officials start using words like "too big to fail" and when they are printing cash left and right to hand out to anyone in difficulty and their nextdoor neighbour, then that is the sound of Capitalism dying my friends. Who will ever believe the U.S. or any U.S. official again after what has taken place? I hope Barack Obama doesn't plan on lecturing other nations about how they conduct their business when he moves into the White House in January.

American Express wanted itself reclassified as a bank or fiancial institution. Then it asked for 3.5 Billion. Yep with a B. Guess what. THey got it. You are going to see a lot more of this. Companies are seeing the government giving out tons of "free" money. They are all trying to figure out a way to get their hands on some of it. Wether they need it or not. You are going to see Billions wasted. MOney going to businesses the don't need it. MOney going to pay multi million dollar bonuses to the jerks that got us into this mess in the first place. Everyone is getting bailed out but the tax payers. We are going to get left with the bill for it all too. Watch and see. This is RObbery. Only you can't press charges because its our own government doing it to us.