[cgnahc]

Does the Fed continue to bailout the private sector?

[Voltigeur]

I oppose the term "bailout" as it's too emotive. Should Wall Street get off scott free, absolutely not.

But the seizing up of the bank system has a huge multiplier effect that is going to hit businesses in the wider economy, so that's why Treasury / Fed need to offer assistance so banks will lend to one another at normal rates.

Buying "toxic" debt is not the only solution. I think others that involved direct re-cap of the banks for equity should have been considered. There's a longer list of assistance - with penalties and potential gains / return of cap for taxpayers - that does not seem to have been discussed in the Paulson plan.

As to the poll: I wouldn't vote either way.

[cgnahc]

What happened to the days when you owe money and is late for the payment, you find Guido and his friends knockin at your door?

[ybbiz34]

Does anyone here understand that if there is no bailout, the consequences will extend far beyond just Wall Street?

At some point, this will catch up with ALL of us. No matter what.

[NoKids]

I say NO BAILOUT. It's like giving a gambler in las vegas money to check himself into the nearest gamblers anonymous clinic.

[ejazbmw]

no bailout those guys are making to much money as it is.....

[mistermojorizin]

no bailout = we all go down in flames

[Bobby_Light]

System needs correction. Times will be hard. Standard of living will fall. A bailout is a band aid for cancer. Down with big government and big spending.

[ybbiz34]

Originally Posted by ejazbmw

no bailout those guys are making to much money as it is.....

It doesn't just affect them. Half of America doesn't get that. Maybe we deserve to go down in flames for our stupidity.

[AMJ_77]

Originally Posted by ybbiz34

It doesn't just affect them. Half of America doesn't get that. Maybe we deserve to go down in flames for our stupidity.

+1
"Dark and dangerous times lay ahead Harry Potter"

[ejazbmw]

Originally Posted by ybbiz34

It doesn't just affect them. Half of America doesn't get that. Maybe we deserve to go down in flames for our stupidity.

yeah i understand that, personally its not going to affect me and maybe I'm being selfish since I'm not thinking of other's but i think we need to learn from our mistakes other wise it'll happen again..this country is full of idiots who cover their eyes and do things not wanting to see the harm their doing.

[cgnahc]

I think it's mostly greed, but that's capitalism in an open marketplace for you. There should be some government controls to set the rules, but I also believe in the survival of the fittest.

[freshnezzz]

More national debt/spending= more inflation! so if you bought a house around 2003 housing lender scam your screwed.

[NoKids]

as i understand things, there is a CREDIT CRUNCH in the US economy. Which means banks do not have MONEY. Which means that they will cut back on giving people CREDIT.

the bailout is supposed to give CASH MONEY to the banks so that they can LEND to businesses, rich, poor, and middle class. It's like a stimulus for the banks.

So, I said I was against the bailout because I didnt want Wall St to be bailed out, but the problem is that the bailout is a bailout for everybody. We cant choose who we want to bailout. It's either everyone, or no one. Bush thinks we should bailout everyone, so does Obama, and so does McCain. I'm kind of torn on the issue.

[scottwww]

My wife is pissed off at me. She works for a bank and wants the bailout because she doesn't see an alternative.

Wife asked what would I realistically do?

I said, abolish the Federal Reserve system.

She said that wasn't realistic. What would I realistically suggest?

Let it fail. Do nothing.

She said that wasn't realistic.

I said, that no matter what it was going to be bad. I would abolish the Federal Reserve system. Fire Henry Paulson. Impeach Barney Frank and Chris Dodd.

She said that if I wasn't going to be realistic, then she can't talk with me about it. This reminds me of Congress. The Democrats think that anyone else's ideas are unrealistic.

Let's see this thing fail. Then we'll see what's realistic!

[MCS]

My wife also works in the financial sector. Luckily - she's not laid off. We started getting e-mails from the ex LEhman and Bear Stearns employees. Very sad in a way. Many people's livelyhoods are afffected by this economic mess.

What COngress and most peole fail to realize is that this is not just a bailout for wallstreet. What is being proposed is that the governmen buys up a poriton of the bad debt on the Balanc sheets of banks for an x percentage on the dollar value (I think 70%)

If the government assumes this debt and sells it back during a recovery period, then the effect on the taxholder is minimal.

I'm normally a very hands off capitalist/pro free market thinker, however, I think we are entering a period in which the bailout/fix may be needed to stabilize the rapidly tipping ship, before it takes down everyone.

The fact that Congress voted down the bailout and then wen to n recess is ridiculous. President should get their lazy asses back in the seat to work soemthing out.

[scottwww]

Originally Posted by MCS

The fact that Congress voted down the bailout and then wen to n recess is ridiculous. President should get their lazy asses back in the seat to work soemthing out.

You need to be a little more aware than that. They are on a Jewish holiday. It wouldn't be worth it to alienate the Jewish community.

I say let it fall. Government is the problem, not the solution. Government made the rules that screwed us all. They required that 20% of mortgage loans be to people who shouldn't get loans (sub-prime).

The banks that haven't suffered from this are those who just didn't make many residential mortgage loans. My wife works for one of them (Wells Fargo Bank).

Not everything is the government's fault. But much, too much of it is. As voters, we can have some effect on what government does. We should seek it's decline. We don't need such large federal government. If this is what it takes to make it fall back, then let it be so.

Businesses that make bad decisions, even when it is encouraged by government gone wild, are still responsible for their own part of the mess. Let the weak fall. The strong might take up the slack and buy those failed businesses. But the failed, may just stay down. Then the better decision makers survive, and maybe we will be in a better position to excel going forward.

The depression of the 1930s brought us more government. Maybe the depression of 2009 will bring us less government.

[iheartsole]

Originally Posted by ybbiz34

It doesn't just affect them. Half of America doesn't get that. Maybe we deserve to go down in flames for our stupidity.

whos us. the people that borrowed Money. knowing they cant pay it back? what about the American people that have been doing everything the right way should they suffer as well? the stupid people are the ones who borrowed money from bank or lenders/ took money from their home equity/401k/ maxing out there credit cards should be called stupid. in the long run we all suffer from the stupidity of others.

[ejazbmw]

Originally Posted by iheartsole

whos us. the people that borrowed Money. knowing they cant pay it back? what about the American people that have been doing everything the right way should they suffer as well? the stupid people are the ones who borrowed money from bank or lenders/ took money from their home equity/401k/ maxing out there credit cards should be called stupid. in the long run we all suffer from the stupidity of others.

+1

although some people had no right to get a loan and knew they couldn't afford it, but i don't blame them as much as the leaders because they knew they couldn't afford it but yet they still gave out the loans...

[ybbiz34]

Originally Posted by iheartsole

whos us. the people that borrowed Money. knowing they cant pay it back? what about the American people that have been doing everything the right way should they suffer as well? the stupid people are the ones who borrowed money from bank or lenders/ took money from their home equity/401k/ maxing out there credit cards should be called stupid. in the long run we all suffer from the stupidity of others.

That's the point I was making man. Everyone is going to suffer from this thing, and not a lot of people realize that.

[iheartsole]

yup forgot to add that as well.lenders fault for lending money to ppl that cant pay them back. yeah not a lot people realize it until it actually happens to them. sooner or later the people who are doing what i said ealier will be in debt. & will not be able to get out of whatever situation they are in if they keep continuing on what they are doing is spending on unessecary things. honestly, i dont see why any of us should feel sorry for these people. they not only hurt themselves, but their family. because they got themselves into stupid mess.

Now it is hard to get a loan from the banks/ lenders. it just suck for the people that have been doing everything right and some have to suffer from other people mistakes.

[NoKids]

what's so terrible about foreclosure? why does a house that forecloses devalue the house next to it? the house is still there isn't it? so what if the people moved out and stopped making payments. the bank can just turn around and sell it to somebody else. what am i missing here?
if everyone defaulted on their bmw leases, i'm sure bmw can just find someone else to take over, no?
why do they call some loans TOXIC? is there garbage in the living room of these houses?