Financial Institution Bailout?

I'm not sure how I feel about it, all I know is the U.S. economy has been in a downward spiral since the Bush administration began. The President's address to the nation last night seemed like a last ditch effort for him to "save face" if you ask me. I agree Ron, I could use some bailing out myself! :shock:

I'm with you! I'm not sure how I feel about it. It seems like no one really knows if it will really work or not. I agree Shazz that the speak last night seemed like a last ditch effort, to save himself. Things are so bad for everyone right now. Its very scary.

I have mixed feelings about it too, but I think that a big factor in the decision was to try to keep foreign interests from buying up the US financial industry.

Ya atleast Bush has accepted the very fact that we're in great trouble. I think these guys are late in responding. I remember a comment of Bernanke some months back. When the entire world knew that our economy has entered a recession, then Bernanke came with his comment that US is in Recession.

I can only say, Better Late than Never. :lol:

I am so against this.

The only time those yahoos in D.C. put forth a bipartisan effort is when they seek to screw the American people.

Let's break this down. In the 90's a bipartisan effort created NAFTA, sending American jobs to foreign countries and leaving Americans unable to pay their mortgages and credit card debts. Now, in yet another bipartisan effort our government wants the American citizens to foot the bill so the government can buy all of the homes across the country that are in foreclosure.

What good will this action do if there still isn't decent paying jobs for Americans? Answer: nada! It's a band aid fix to a downward spiral.

Our government needs to let these financial institutions crumble in the name of capitalism! Repeal NAFTA and create American jobs and the banks that survive this crisis will be just fine.

Bailing out these banks is corporate welfare and is unamerican and unconstitutional. I have wrote all of my reps and D.C. to ask them to vote against this. I have never in my life been more pi$$ed off at my government than I am right now. I think every single person in D.C. has lost their ever loving mind on this and I will not vote for any person in November who supports this or votes for this. It looks like I'll be voting third party, independent or write in.

You and me both, Polly! I'm just sick that they are planning on bailing these banks out to the tune of billions of dollars! While the average American is just barely getting by, and even more and more of us are just plain not getting by. The greed and bad decisions of these financial institutions gets them in trouble and the governments wants to bail them out. Well, some of us are in trouble, through bad decisions and/or situations out of our control (IE: losing jobs), and we get nothing.

Well, unless you count getting hounded, harassed, and probably even sued by OC's and CA's.

Oh wait, I'm forgetting that wonderful stimulus check we got. Silly me, I didn't get one because I was unemployed for the most part of 2007 and didn't qualify for one. Besides which, exactly what was 300 dollars going to do to stimulate my economy anyway?

I posted my opinion on what I thinks is a better way to handle this bail-out in another thread, and would still like to see some way to make it happen. Not just handing over money to financial institutions.

Those of us negatively affected by this economy, like having debts we can't pay or are already behind on, should be able to submit our requests to have an amount given to us from this bailout equaling the amount we are behind on. It is then earmarked to the proper financial institution thus paying off all our past due bills. The financial institutions still get their bailout while we get our past due bills taken care off, thus providing a fresh start for those that have been negatively affected by this pathetic economy.

Of course, I know this will never be a possibility for many, many, many reasons. But, hey, if I'm gonna' dream, might as well dream big!