Federal Government Bailout

Ski16 · Member

Federal Government Bailout

Scott Leffler · Administrator

You're not familiar with the "money trees" that grow in Washington and Albany?

Okay ... real answer. They likely just printed it.

And I'm serious. Whenever you hear the Fed talk about "adding liquidity" to the market, it means they're printing more money to add to the economy.

Of course this really just dilutes the value of the already anemic dollar and increases inflation, which makes costs go up ... meaning more of our money will have to be spent on necessities ... meaning more of us will default on our home loans.

It's a vicious cycle ... but at least it didn't come from taxpayer money.

Mindcrime · Senior Member

I ask again: How do I get my government bailout? Is there a form to fill out? I only need several thousand to cover medical debts. It's not like I'm asking for billions of dollars to cover foolish investments or loans.

Scott Leffler · Administrator

Ski,

At the end of this video, Ron Paul confirms my beliefs. They just "created" the money.

Ski16 · Member

I never thought it would be as "simple" as printing more money! You did a great job on the show of outlining the trickle effect of an action like this. Maybe you should hold a clinic for our government officials...I just can't believe they actually think the economy is fine and this bail out will really be beneficial! Looks like things are continue to get worse...

BUFWINGS · Veteran Member

Seems wrong doesn't it? Corporations are getting billions of dollars to bail their sorry asses out; yet there are people all over the US losing their houses because they can't afford to make their mortgage payments because the economy is in such lousy shape. Where's their money?

Andrew · Veteran Member

We are closer to a second depression then we are to a third world war. If the current administration thought more of the prior then of the later then we would be ok.

Mindcrime · Senior Member

Typical behavior of the "Fiscal Conservative." Privatize profits, but socialize losses.

Daddydog · Veteran Member

The very Rich get richer, the poor get poorer, and the middle class holocaust continues...Our corporate heads get ridiculous bonuses as the third world slavery plantations continue to work our American labor force out of fair wage jobs.....and the republicans blame Unions.
There is only so much of this BS the American citizen can take...
My headbanging continues as the right wing continues to push abortion and the right to bear arms as main issues...to the point that a Sarah Palin is actually put on their pitiful ticket...Fox News and Limbaugh and the 700 club continue to brainwash the bible belt into pushing our Country into the 1930's.....
And Millard Fillmore is no longer considered the worst President in the history of this Country....by a landslide.

Date: Sep 25, 2008

WASHINGTON - President Bush and the two men fighting to succeed him joined forces at a historic White House meeting Thursday, trying to sell resistant lawmakers on a multibillion-dollar bailout plan for Wall Street aimed at staving off what the president called "a serious economic crisis." Key members of Congress struck a deal earlier in the day but others were unwilling.

The tentative accord would give the Bush administration just a fraction of the $700 billion it had requested up front, with half the money subject to a congressional veto, Capitol Hill aides said. Even that was hardly final. Sen. Richard Shelby, top Republican on the Banking Committee, emerged from the White House meeting and said, "I don't believe we have an agreement." Story Link

The very first step in any bailout plan should be to seize the assets, holdings and cash from every one of these bank executives and donate it towards the bailout of these failing mortgages. We can leave them $50,000 to get back on their feet, but the rest of their net worth should be forfeit.

Let's bailout the poor people first, the wealthy if there's anything left over.

Mindcrime · Senior Member

^ That was me. Sorry

Doc Wu · Member

How about this:

There should be no free money. Every dollar given to these big businesses should be in exchange for a share of that business and the shares given to the American taxpayers in exchange for the extra taxes we will end up paying for the buy out.

When these companies end up being owned by the people that bailed them out, maybe things would change.

Andrew · Veteran Member

As I was thinking about this over the past few days, I was thinking about skipping over the middle men on Wall Street and helping those Americans who actually have real assets, and then I saw this today:

http://www.youtube.com/watch?v=S27yitK32ds

I agree with her 110%.

Also, I'd like to the see names of specific people who perpetuated this collapse and put their asses in jail, for a very long time, not reward them.