Deal said to be near on big financial bailout

If you ever wonder just what the rest of the world is thinking about America just watch teh LINK TV NETWORK, it is a worldwide channel. This morning they were covering America's crisis as well as the UN meeting and believe me it is not good. They interpeted Bush's message by saying that instead of taking responsiblity of the hardship our nation has placed on other nations around the world he chose to focus on the war and terrorist. To insight people against the people of the middle west. They announced Iran's president's message about the bullies of the world we all know who he was talking about there! Then they mentioned his visits to Larry King only they interpeted him so what different than I recall, they mentioned the question whether Iran would be willing to talk to the United States if they wanted, he say YES! If they are willing to talk peacfully, this is what Iran has been wanting and attempting all along! Now as I recall the show he did say yes but I don't recall him going on with so much willinginess.

We are looking really, really bad in the eyes of the world, in fact we look very WEAK ECONOMICLLY AND AS BULLIES! WE ALSO LOOK LIKE WE ARE NOT WILLING TO REASON WITH THE MIDDLE EAST, THAT IS NOT GOOD! NOT GOOD AT ALL!

Only way I'll support the bailout is...

1. Liquidate their stocks at zero value.

2. Issue new stock certificates: 100 shares to each American.

3. Prosecute upper management under full force of Sarbanes-Oxley.

4. No golden parachutes.

Curious the logic that MacCain goes full-throtle crisis mode while simultaneously Palin is shown playing tourist in NY.

Wow! John McCain isn't even in the room and yet they come to an agreement 30 minutes after he lands at the airport. Man, this guy is good! And there will be a debate after all... How surprising is that!

Arthur-379160

Only way I'll support the bailout is...

1. Liquidate their stocks at zero value.

2. Issue new stock certificates: 100 shares to each American.

3. Prosecute upper management under full force of Sarbanes-Oxley.

4. No golden parachutes.
4!#1.3 - Thu Sep 25, 2008 10:19 AM CDT

Arthur- um.. your proposals do not make any sense! Liquidate whose stock? All financial firms? Prosecute under SOX? Doesn't make any sense!

And Orville Redenbacher's stocks will rise as we all run out to buy popcorn for the debate!

When does the investigation of the senate banking committee begin?

"I Am Mad As Hell And I Am Not Going To Take It Anymore!"

Say No! to the $700 Billion Bailout - We are not footing the bill.

http://everyonesacritic.newsvine.com/_news/2008/09/25/1912003-i-am-mad-as-hell-and-i-am-not-going-to-take-it-anymore-

THERE SHOULD BE NO BAILOUTS OF ANY OF THE "toxic" DEBT FIASCO. THE KEY WORD NOW IS TO STABILIZE THE ---"GLOBAL" ECONOMY. WHERE THE MONEY IS GOING!

THEY NOW SAY THE 700B
WOULD ALSO BE USED TO COMPENSATE ALL THE FOREIGN INVESTORS WITH BAD INVESTMENTS
IN F/F AND THE U.S. STOCK MARKET.
THIS IS MAD!! TO PAY BACK --RUSSIA, CHINA, INDONESIA, INDIA, PHILIPPINES, GERMANY, ITALY, THE UAE, AND THE SAUDIS -- WOULD USE UP ALL THE APPROPRIATION AND LEAVE NOTHING TO PROTECT THE US SMALL INVESTORS. HOW DO YOU TELL RUSSIA'S OR CHINA'S
SOVEREIGN FUNDS,--- TOUGH, BETTER LUCK NEXT TIME!! (China lost $380B) ALL THESE DEBTS WOULD THEN BE OWED BY THE AMERICAN PEOPLE!!

THESE PEOPLE ARE CRAZY!,-- AND WE REFUSE TO PLAY THE GAME!! WALL STREET CRAPPED ON
THE LAWN AND THEY CAN SURE AS HELL CLEAN IT UP!!
=======
THEY HAVE ALREADY RUINED THOUSANDS OF AMERICANS WITH THE TAKE OVER OF F/F!
---Common stock of $26B, held by the small investor, -- "Common shareholders of the stock of Fannie and Freddie Mac will be virtually wiped out by the plan, which would balloon the shares of companies to give a nearly 80 percent stake to the government."--------
ONLY PREMIUM STOCK WILL BE PROTECTED.
=======
THIS BAIL OUT SHOULD JUST ABOUT FINISH US OFF! (TIME TO OIL THE SECOND AMENDMENT!)

WITH NO HAND OUT FROM THE AMERICAN PEOPLE, -- THE MARKET WILL HAVE TO HEAL ITSELF!!
THIS 700B WILL GO DOWN THE RABBIT HOLE AND JUST ADD TO THE OVER 20 TRILLION OF
DEBT ALREADY OWED BY BUSH AND HIS "FOLLIES". (I had nothing to do with it and I don't
owe them a dime!!!!!!!

Hey authur 379160 WHO cares if you support the bill or not? Its still going through as planned. Its funny Bushs less and low spending government has spent more money then almost any other president in history has racketed up a massive debt our children's children will still be paying back if they can find any jobs to do so and presides over an inefficient bloated government. Way to go Bush!! Now if elected by lying and slandering his opponet with NO plan for the future we will get more from McSame. And now We the American people have to pay the burden with our taxes for their carelessness as they drove the economy and the USA good reputation in the ground. McSame had 26 YEARS in congress to do something about it, but what did he do NOTHING, while the economy went down the toilet.AND NOW when its too late he is crying fowl!!! OH YEAA he is a Maverick all right.

If McCain and Obama don't have the fortitude to render their voice on the Senate floor and vote on the finalized legislation, when "Our entire economy is in danger.",
therefore avoiding their responsibilities as Senators, what right do they have to be President?

If our nation were faced with a crisis would they go on vacation and leave the critical decisions to others?

Why the panic by the Administration and Congress?

How much money would members of Congress, President Bush, the Administration, their families, friends and co-conspirators lose, but for the "bail out"? Imagine the size of their investment portfolios.

The Bush family fortune would be wiped out.

The quick legislation and vote for the "bail out", shows how fast Congress can act when their lot is on the block.

And of course Bush, Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke have nothing to gain by the "bail out".

There's no self interest here it's all being done for the benefit of the little people, the average citizens and their families, seniors and small business. How courageous and honorable.

Face it this "bail out" is nothing more than a red herring to cover up corruption, fraud and grand larceny on an astronomical scale.

Chris Dodd and Barney Frank should both resign and the are part of the problem and not the solution.

These "Lawmakers" are bailing out their buddies. Look at the Biographies of the Corporate Board Members of Fannie Mae, Freddie Mac, Lehnman Brothers, AIG.

You will see former members of Halliburton, Federal Reserve Bank, club membership with Economic Club (conspiracy?), IBM, Presidential Advisors.

These are the same Corporate Board Members that sit on numerous boards. They keep voting for their own outrageous Salaries/Benefits/Bonuses/Separation Packages.

These people succeeded in bring the U.S. Economy into crisis, something the 911 Terrorists failed to do. Therefore, try them as what they are Terrorists. We are currently at war, "Global War Against Terrorism", these are domestic Terrorists. They willing made the choice to stuff their pockets with money instead of the entire United States of America. During World War II, this would have been considered Treason (wikipedia definition). These people would have been tried by Military Tribunal and executed.

To call these people what they are: Treasonous Terrorists.

Detain them at Guantanimo indefinitely, no legal representation, no communication, trial by Military Tribunal, not U.S. Court. Just like the other Terrorists.

DO NOT BAIL OUT THE unAmerican Auto Industry (Ford, GM, Chrysler). Unless we get shares at the same rate as Corporate Executives (exaggeration: 300 shares for $1.00). These people are responsible for reinvesting their profits into their own business. No shares for us. Ok then they can be also tried as what they are for sabotaging the U.S. Industrial Complex, part of the U.S. Defense Industrial Complex (Warfighthing, Defensive Capabilities) same as the other bumbs of Lehnman Brothers, Fannie Mae, Freddie Mac, AIG.

If you don't do something about these bumbs they are going to keep coming back for "mo money", look at how many times the unAmerican Auto Industry has asked to be bailed out. This bull@!$%# about retooling, research has been going on since 1970s. GM, Ford already have built more than 3 million E100 and more "Flex Fuel" Vehicles in Brazil (ethanol fuel in Brazil, wikipedia). Isn't lying under oath to Congress a crime?

I keep saying that Ford, GM, Chrysler are unAmerican. That is the truth, where are they built, Mexico and Canada. So unless the United States of America annexed Mexico and Canada as new States. These are Mexican and Canadian products. Putting on one or two bolts at an assembly plant in the U.S. on a car made in Mexico or Canada is not assembled in the U.S. stop lying. The only real American Auto Plants are located in Kentucky, Toyota; California, Honda; Alabama, Hyundai; Nissan, USA.. Americans building cars for Americans. Stop lying to the Citizens of the United States of America, we know. Since 1994 NAFTA, Ford GM Chrysler and afterwards all their U.S. Auto Manufacturing was being sent to Mexico or Canada. This makes them Canadian or Mexican built or assembled that makes Ford, GM or Chrysler Canadian or Mexican, NOT AMERICAN.

If you don't get rid of the cancer (these Corporate Board Members) it (they) will keep coming back to suck the life out of the American Citizens.

Most of your foreign name plates don't have a union work force and can afford their employees. The big 3's unions have made it very difficult to make an affordable car here and still turn a profit. While the CEO's make way too much in my book, the employees suck the company far harder then the CEO.

The article says of McCain "Placating them (Republicans) enough to bring them in line could be a tall order for the Republican presidential nominee who has a checkered relationship with the right wing of his party."
Gee, I thought the Democrats had painted McCain as a far-right conservative. Well, there goes that campaign theory. No problem for Obama though - He's always been aligned with the left wing of the Democratic Party.
Just a few years ago, Barney Frank was saying of Fannie Mae & Freddie Mac "they're very sound, and any attempts to regulate them will just limit people's access to "affordable" housing". Oh how attitudes change when they get caught with their pants down.

UNACCEPTABLE

This is so freakin outrageous.

I have had enough.

Although I'm a lifelong Democrat, and was happy to support Obama, I have changed my mind. Instead of fighting for US the dems are actually supporting this BS. The only people fighting this BS are the conservative Republicans.

Therefore, I will now vote for McCain. Whom I consider a fraud and a piece of $%#^. Why, because the sooner America collapses, the sooner we can rebuild it.

I did something yesterday I would never have dreamed of before. I cashed out my bank accounts. Many of us are getting really depressed by the situation and lack of help from anyone in Washington. I had hoped for 8 years to get our country back after the Bush administration, but I now realize, the America we knew is truly gone.

This bailout does NOTHING for everyone suffering from the current economy, EXCEPT the SUPER RICH.

Goodbye America, was nice to know ya.

Michael White Bear - Manchester, N.H.

Actually, I find some merit in the Republican plan to only offer insurance to the lenders. That would make the foolish lenders totally liable for the amount of write-off needed, with far less risk to the taxpayers.

Sheep, Sheep, Sheep! The world is full of sheep who just keep believing in and following their so-called "leaders" whereever they take them. What is happening economically should not be a surprise to anyone who has any knowledge of the laws of economics. If any of you read any of the columns on Stockhouse.com, you will know that there have been many financial experts foretelling a global economic collapse, far worse than the Great Depression, for several years now. As for who is really protecting who in this proposed 700 billion - dollar bail out plan, you should all purchase and read carefully the book: "Confessions of An Economic Hit Man." It will open your eyes to who really runs things in this world and their goal. You are all "sheep."

You all might find it interesting to click on this link and read the report there.

Everyone, please click on the above link and read carefully.

I must apologize, as it is not possible to paste links to other websites here. Everyone go to Casey Research and check out the articles there about what is really happening to the world markets.

martvol-Most of your foreign name plates don't have a union work force and can afford their employees. The big 3's unions have made it very difficult to make an affordable car here and still turn a profit. While the CEO's make way too much in my book, the employees suck the company far harder then the CEO. post #1.17.

.

Not to the tune of 25 Billion USD. Don't fool yourself. What you said is the same excuse, not solution that the unAmerican Auto Industry CEOs of GM, Ford, Chrysler say. Just like we need money to retool and research. Why did they make the decision to stick the money from previous bailouts in their own pockets instead of retooling and research?

That is why we don't have what Brazil already has from Ford and GM; Because, we in the U.S. believe their Bull@!$%#. The Brazilians don't, the Europeans don't. And won't.

Fact not your opinions:

GM and Ford E100 and Flex Fuel Vehicles, 3 million and 6 million
http://en.wikipedia.org/wiki/Ethanol_fuel_in_Brazil

65 mpg Ford
http://tech.slashdot.org/article.pl?sid=08/09/15/2049252&from=rss

M White Bear

Obama went to the joint meeting to contest points in the bail out and work a better solution. 700 B with no over-site is unacceptable and we all know this. McCain went to support the plan as is.

The plan as is would have put more money in the pockets of the people that caused this mess. By changing the plan, putting the over-site in place, and making it illegal for the money to be used to pay the people that caused this he was hoping to show that he is ready. McCain wants to cancel the debate and Obama wants to go forward. A leader has to be able to handle more than 1 crisis at a time to be effective.

martvol-Most of your foreign name plates don't have a union work force and can afford their employees. The big 3's unions have made it very difficult to make an affordable car here and still turn a profit. While the CEO's make way too much in my book, the employees suck the company far harder then the CEO. post #1.17.

These bums will keep coming back for "mo money" to stick in their pockets and not reinvest for retooling and research. Almost every couple of years we bail them out.

Playing the blame game, does nothing. Worst yet you believed them. Read what they have done before.

What other countries have done successfully, dealing with Ford, GM, Chrysler, that also have stronger unions, than US. So putting money in their own pocket is the Unions fault? Nope.

RESULTS!!!! NOT CORPORATE BULL@!$%# EXCUSES.

This effort is a Band-Aid as usual. This country will never be fixed if the problems are not CORRECTED. The corporate greed, corrupt and greedy politicians, govt. mismanagement of funds, and not to mention, way too many govt. employees and welfare hand-outs. These are just a few of the millions of the problems we have.
Yeah, some money will be thrown out to rescue us. Our children and grandchildren will be the ones paying for. There will be some sort of way for the govt. to recoup the money.
Oh and by the way. Our leadership was dumb enough to piss off a nuclear power again. Now N. Korea is rebuilding.
They should hold everyone one of these companies accountable. All of these problems are being caused by modern day "WorldComs" and illegal lending practices. It seems they got waht they deserved. Don't give those companies more taxpayer dollars!!

Any government involvement looks and sounds like socialism to me.....

MV KRISHNA RAO: You don't explain, so I don't know if I agree with you, or if you're even being serious. But this SHOULD be good for the image of the US. In how many countries can citizens so freely and openly discuss and criticize the actions of their government? The only way we're losers is if 1) Our leaders show they don't care what we say, think or understand (which I believe is at least partly the message McCain's refusal to talk to us about this does) or 2) we take this discourse into the gutter by insulting each other's motives and patriotism.

Thanks for letting me have my say.

America, does this sober you up yet? All you do is spend money, what it takes to make you happy right now. You spend so much money that our Dollar has lost value and we now rely on credit to keep our country moving.

America!! The minimum wage is far behind with the price of everything else rising. You will someday soon be out of a job, then you'll have to work minimum wage at a gas station to provide for your family and realize that you can't do it.

American citizens, yours and my neighbors are starving, struggling to pay for the means to get to work. What have you become? Your land of the free is now the land of bad debt and corruption, and You let it get this way. Our government cares for you and your soldier just as much as Sara Palin wants to uphold Rowe vs. Wade.

Understand that this country is changing. Older generations: This is not the same government that gave you social security. This is corruption, unedited and hot for distraction. Be prepared.

The Herbert Hoover Party revolts.

Too late, we are all screwed.

I will tell you this about Mccain if he thinks that Congress can not make a decision without him then he needs to wake up. How selfish, self centered, egotistical can one be to hold up a debate to grandstand. He lost the Ole Miss vote and that was a whole lot of Repubs.

The deal may be good for the U.S. and for the world. But I would caution that business as usual people be kept at a hundred miles distance from this bail-out fund! They must be identified one by one, blacklisted, and kept at bay! By "business as usual" I mean all the wealthy magnates like Bill Gates and company, all those who have failed to criticize the CEO salaries over the years! They are myriad in America: they include the CEO's, the lawyers, the Deans of the Schools of Economy, many Senators and Congressmen. If we do not keep them at bay from this fund, a disaster will befall America!

This is a very serious situation.

Do you want McCain who will need a few days off from everything else in order to think about it

Mari

If Obama did not have McCain lead him to Washington he would still be reading up on foreign policy. Why don't the democrats pass a bailout bill they have enough votes in the House and Senate the Republicans can not stop them.

The problem is they want 20% to go to voter fraud ACORN.

You said McCain needed a few days to think about it maybe. But Obama did not even want to think about it he said call me later I'm studying. That is not multitasking that is a ONE tract mind.

Some people believe that anytime you can get the American taxpayer to increase the debt by hundreds of billions of dollars then it must be good for the world. The truth is putting up this money will in all likelihood just postpone the cooling down of the world wide heated up economy. It really does need a break from all the excesses that have piled up one on top of the other. To bail out the world by breaking the back of the American taxpayer will in the long run only make the down turn that much worse. Lets take a brake and keep the congress in session a few more weeks and we will all win by not having to listen to the constant lies they are planing to tell us durning this election season.

All these people opposed to the bailout are misguided. The perception is that this a "bailout of Wall Street." It's a bailout of the entire American economy. Any banker--even those in small towns--will tell you that "If Wall street doesn't play, we don't play." Without the participation of Wall Street, the credit market will dry up, and there won't be much of a market for financial instruments and investments. We can either have a good plan quickly or we can wait on a perfect plan while our economy collapses.

SOCAL

Because the refusal of McCain and other Republicans to support the plan worked out by congressional negotiators was creating a road block.

democrats need to stop critisising mccain, at least he cares enough about the country to put off a campaign debate to try and help the country, the taxpayer, the voter etc, where was obama, complaining that he wasnt going to get a campaign debate, get over it, maybe mccain isnt the best multi tasker as obama puts it but obama didnt do anything to help us

How do you come up with that? The dems have a majority in the house and senate.They could pass it and Bush would sign it. Who is really obstructing this?

There was no plan. The dems were looking to add entitlement handouts with our tax dollars. Let the dems pass it alone if it is so good Bush will sign it. Why do the need the GOP? Read or listen to the exit interviews the dems, Bush, Paulson and Bernakey had a deal.

Wrong again

Bush wants to give the handout to the rich. If you want that then you must be rich.

With the fall of Wa Mu today I certainly believe the time has come to bailout these troubled financial institutions. No one likes it, but if you and I want a banking system were going to have to. I wished McCain would have kept his @ss out of the process, I only thought it made things worse. I also don't understand why our Congress has to look like a billion dollars with those fancy suits and ties they wear. LOOK, we don't give a $hit about how you look, we just want results baby. I wished I could tie kerosene rags around their ankles, so the ants wouldn't crawl up and eat their candy @sses. Enough about the image, we need results and we demand results, so get up off ya dead @sses and get something done. Were not interested in the pretty boy photo ops or how the camera shines on your pretty suit and tie, just get us some results.

If they wanted to help the people and the banks at the same time, they would pass this bill as mortgage relief. Payed to the American citizen to downsize their mortgage and make the payments affordable again. If the government was to loan, interest free, 50% of a persons mortgage, force the refinance at the lower principle, even at the same interest rate payment would be less. After bank is payed or house is sold, loaned amount from government is payed back. By monthly payments at rate of mortgage or by lump sum if house is sold. That is the only way this will help the people. Can also put in salary caps for the CEO's, that wouldn't hurt my feelings at all.

I am a through and through Liberal. I am also an unemployed mortgage expert, well paid for the excesses of the past years. I am in favor of these house republicans, but for a different reason.

IF the situation is as dire as Paulson and Co. are indicating, then it is FAR TOO LATE for this 700b to help. No sense in throwing good money after bad in a rush, especially in an election year.

Think about this: If we're days or hours away from a calamitous collapse, then even IF this bill passed, we need to raise 700b by selling treasuries, and then (or even simultaneously) open a reverse auction or other market mechanism to start relieving the credit markets. To raise the the actual funds, create the mechanism, and then set the prices and terms for these very complicated instruments will take, conservatively, MONTHS. IF what Paulson and Bush and Company are saying, we'll be in a depression by then and this will be an emergency anvil around our necks.

Am I wrong? Seeking responses.

Barney Frank is an idiot.

If hadn't been rolling in Fannie Mae corruption like a pig our country we wouldn't be in this mess.

If his state had any sense they'd get rid of him.

it is time to kick out all of congress kick there lying cheating bought and paid for ass out of freaking office now.

It is time to let them all know we are mad as hell and not going to take it or pay for this bail out

Time to take our country back is now.

who cares about the wallstreet billionaires and who cares about what the world thinks. Give all proposed bailout fund to us people stop all foriegn aide until our country is in the black anyone that does not like that should move. screw pc it is time to realize charity starts at home

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The American public needs to understanding something VERY important: The President does NOT represent the American public because he does not work for them. He works for a CORPORATION called The United States. His loyalty is to its shareholders--not the American people.

Background:

Since the Act of 1871, which established the District of Columbia, Americans have been living under the UNITED STATES CORPORATION which is owned by certain international bankers and aristocracy of Europe and Britain. With no constitutional authority to do so, Congress created a separate form of government for the District of Columbia, a ten mile square parcel of land. The act -- passed when the country was weakened and financially depleted in the aftermath of the Civil War -- was a strategic move by foreign interests (international bankers) who were intent upon gaining a stranglehold on the coffers and neck of America. Congress cut a deal with the international bankers (specifically Rothschilds of London) to incur a DEBT to said bankers. Because the bankers were not about to lend money to a floundering nation without serious stipulations, they devised a way to get their foot in the door of the United States.

The Act of 1871 formed a corporation called THE UNITED STATES. The corporation, OWNED by foreign interests, moved in and shoved the original Constitution into a dustbin. With the Act of 1871, the organic Constitution was defaced -- in effect vandalized and sabotage -- when the title was capitalized and the word "for" was changed to "of" in the title.

THE CONSTITUTION OF THE UNITED STATES OF AMERICA is the constitution of the incorporated UNITED STATES OF AMERICA.

It operates in an economic capacity and has been used to fool the People into thinking it governs the Republic. It does is not!

Capitalization is NOT insignificant when one is referring to a legal document. This seemingly "minor" alteration has had a major impact on every subsequent generation of Americans.

What Congress did by passing the Act of 1871 was create an entirely new document, a constitution for the government of the District of Columbia, an INCORPORATED government. This newly altered Constitution was not intended to benefit the Republic. It benefits only the corporation of the UNITED STATES OF AMERICA and operates entirely outside the original (organic) Constitution.

Instead of having absolute and unalienable rights guaranteed under the organic Constitution, we the people now have "relative" rights or privileges. One example is the Sovereign's right to travel, which has now been transformed (under corporate government policy) into a "privilege" that requires citizens to be licensed.

By passing the Act of 1871, Congress committed TREASON against the People who were Sovereign under the grants and decrees of the Declaration of Independence and the organic Constitution.

Enter into Google: "united states corporation"
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The real problem with the "Bailout" is that it's a Democratic designed plan, with Bush's reluctant approval, where the Congressional Republicans were excluded from participating, and now the Dems want them to "just go along". If this $700 Billion plan (that almost $10,000 per family of four) goes through and Obama is elected, the first thing they'll do is say "now that we control these mortgages, let's find a way for these poor people (who shouldn't have bought a home in the first place), to stay in their homes - at taxpayer expense". If the Dems really want this plan, they can force it through since they control both houses - they can just over-ride the Republicans, just like they've been doing. McCain and the Republicans want a plan of insurance and tax incentives that will leave the stupid lenders and Wall Street on the hook for the actual final cost of this mess - where it should be, but Obama wants the taxpayer to foot the bill and set up a huge government bureaucracy (probably like Fannie Mae & Freddie Mac that got us into this mess in the first place with easy qualifying standards) to "oversee" it. There's a good reason that the Democratic Chairmen of the Oversight Committees - Chris "Countrywide" Dodd and Barney Frank, and also Obama, received huge contributions from Fannie Mae & Freddie Mac - They're part of the problem, not the solution. The Republicans plan should be factored into the discussions to protect the taxpayers.

THIS IS VERY VERY BAD FOR AMERICA.

The real problem with the "Bailout" is that it's a Democratic designed plan, with Bush's reluctant approval, where the Congressional Republicans were excluded from participating, and now the Dems want them to "just go along". If this $700 Billion plan (that almost $10,000 per family of four) goes through and Obama is elected, the first thing they'll do is say "now that we control these mortgages, let's find a way for these poor people (who shouldn't have bought a home in the first place), to stay in their homes - at taxpayer expense". If the Dems really want this plan, they can force it through since they control both houses - they can just over-ride the Republicans, just like they've been doing. McCain and the Republicans want a plan of insurance and tax incentives that will leave the stupid lenders and Wall Street on the hook for the actual final cost of this mess - where it should be, but Obama wants the taxpayer to foot the bill and set up a huge government bureaucracy (probably like Fannie Mae & Freddie Mac that got us into this mess in the first place with easy qualifying standards) to "oversee" it. There's a good reason that the Democratic Chairmen of the Oversight Committees - Chris "Countrywide" Dodd and Barney Frank, and also Obama, received huge contributions from Fannie Mae & Freddie Mac - They're part of the problem, not the solution. The Republicans plan should be factored into the discussions to protect the taxpayers.

THE HYPOCRISY OF THE REPUBLICANS IS AMAZING! THEY ARE PERFECTLY WILLING TO SEE A BANKRUPTCY JUDGE GUT A UNION CONTRACT WILLINGLY signed by both company and union, but balk at allowing a bankruptcy judge to modify a mortgage, which was misrepresented to a borrower!! somebody needs to ask john McCain what his position is on this matter! Obama has given his support to giving borrowers some relief, and for doing so, will get my vote, (and I suspect, the votes of many others)!

enjoy: http://www.youtube.com/watch?v=H5tZc8oH--o&eurl=http://dyn.

First off Barney Frank is one of the reasons we have this problem in the first place he among others never did there job with oversight. Now I am supposed to trust the same people for the reason we are having this problem in the first place cause they did not do there job then...NO I do not think so.

My family and I who consist of 4 girls with 2 in college can not afford to take this problem on our shoulders WE have enough problems and obstacles in are way. Earning 130/yr and I am broke. Lost my house after being stuck in an arm and watching my mortgage go from 2100 - 2800 -3800 until I could not afford to pay for it any longer and the mortgage company would not take me out of my ARM...That is where the government should of stepped in and said if they are paying their mortgage on time re-structure there mortgage to a fixed rate and move on...BUT WERE WAS MY HELP....Now I am suppose to help bailout fat cats business man and politicians WHEN DOES THIS STOP!

As it stands right now I will have to pay the IRS $6k this tax season because I lost all my write offs (Mortgage) and I can not afford to pay that and I am already sweating how to get that done. And you want to pay another 10k to bailout AIG...why don't you just bury me now.

You and I the regular guy do not have health care like the politicians and fat cats it cost me close to $600/month for my family and it still cost me $100 to take my kid to the emergency room if she gets hurt playing ball. How much does it cost our politicians?

ENOUGH MR & MRS POLITICAN HELP THE REAL WORKING CLASS>>>these politicians ARE NOT HEARING US >WAKE UP AND BE HEARD...WE (I) HAVE HAD ENOUGH

Enough we need to get together and be heard a real revolution is coming and needs to take place... The American People not the politicians and the rich need to re-capture our country and get it right again..."We The People" This is our country and I am sick of letting these politicians ruin it...I want someone who understands what paying insurance, school bills, clothing bills, food, gas and everything else we pay and still trying to stash a couple of dollars together to take your family on a vacation once per year. I want someone who made mistakes and learned from them not made excuses for them. Someone who has kids and understands how hard it is to get through everyday!
I am not a lemming and I will not follow these politicians any longer this is not the American Dream this is a Bad Dream where kids shot other kids, were we have one of the biggest oil reserves in the world right here in America and wont use it to help our economy because conservationist are more interested in nature than mankind. Were we making excuses for the rich everyday yet the poor and the middle class get nothing. This bailout does not insure anything well that is a lie it does insure you and I pay more and that is all it insure…I am not buying the snake salesmen medicine NO not this time
If AIG was a regular middle class business and you or I were running it we have been closed long ago buy the same politicians that want to bailout AIG because they let it happen. The politicians do not do anything everyday that another Middle Class American family goes bankrupt or loses there home because it does not affect them….WELL THIS EFFECTS THEM LET THEM FEELWHAT WE HAVE BEEN FEELING. It time we stand up and say NO we have had ENOUGH!

At first the big guys said that if we dont bail THEM out of their mess it would plunge the country into a "recession" now they are saying that if we dont get this thing moving and pass it with no real oversight we are going into a long DEPRESSION. This sounds more like blackmail to me, because you know that no matter what happens the guys at the top have theirs. Golden parachutes and all.

NO BAIL OUT with out real oversight and punitive measures

If they would pay every American over the age 18, $250,000.00 this would fix the issue. Taxpayers could payoff their loans, the government would get back 30% in taxes, and this would all cost much less than what Bush is proposing.

I wrote my Congressman and Senators and told them both that if this bailout went through I would never vote for them again. If any of you disagree with what your government is doing this is your only action to change things.It is obvious that our opinion does not count once they are in office I urge you all to change our government by actually changing the people in it. Throw away party politics, VOTE OUT ALL INCUMBENTS. If people like Pelosi and Reid ever get elected again it will convince me that this country truly is full of idiots.

THERE SHOULD BE NO BAILOUTS OF ANY OF THE "toxic" DEBT FIASCO.--- THE KEY WORD NOW IS TO STABILIZE THE ---"GLOBAL" ECONOMY. WHERE THE MONEY IS GOING! THE REASON THEY TURNED DOWN A $250 BILLION STARTING POINT IS BECAUSE IT WOULD NOT BEGIN TO COVER THE LOSSES OF THE INTERNATIONAL INVESTORS THAT THIS WAS GOING TO.

THEY NOW SAY THE 700 BILLION DOLLARS
WOULD BE USED TO COMPENSATE ALL THE FOREIGN INVESTORS WITH BAD INVESTMENTS
IN F/F AND THE U.S. STOCK MARKET. THE FEDERAL RESERVE HAS ALREADY GIVEN THEM
OVER $300 BILLION DOLLARS THESE LAST TWO WEEKS!

9/26/08 --With the global flow of money seizing up, the U.S. Federal Reserve yesterday pumped billions more dollars into central banks overseas. The Fed channeled $30 billion to central banks in Australia, Denmark, Sweden and Norway to relieve the stress of the global credit crunch. That came on the heels of the $247 billion the Fed made available to central banks in Europe, Canada and Japan last week, an action that roughly doubled the dollars previously available to them.----

THIS IS MAD!! TO PAY BACK --RUSSIA, CHINA, INDONESIA, INDIA, PHILIPPINES, GERMANY, ITALY, THE UAE, AND THE SAUDIS -- WOULD USE UP ALL THE APPROPRIATION AND LEAVE NOTHING TO PROTECT THE US SMALL INVESTORS. HOW DO YOU TELL RUSSIA'S OR CHINA'S
SOVEREIGN FUNDS,--- TOUGH, BETTER LUCK NEXT TIME!! (China lost $380B) ALL THESE DEBTS WOULD THEN BE OWED BY THE AMERICAN PEOPLE!! WE NEED TO STABILIZE THE AMERICAN MARKET BEFORE TRYING TO TAKE ON THE WORLD'S BAD DEBTS.

THESE PEOPLE ARE CRAZY!,-- AND WE REFUSE TO PLAY THE GAME!! WALL STREET CRAPPED ON THE LAWN AND THEY CAN SURE AS HELL CLEAN IT UP!! AS FAR AS THE CEO PARACHUTES, THEY HAVE ALREADY USED THEM TO BAIL OUT AND HAVE WALKED OFF WITH
MILLIONS IN BONUSES AND STOCKS. WE SHOULD TAKE THAT ALL BACK!

=======
THEY HAVE ALREADY RUINED THOUSANDS OF AMERICANS WITH THE TAKE OVER OF F/F!
---Common stock of $26B, held by the small investor, -- "Common shareholders of the stock of Fannie and Freddie Mac will be virtually wiped out by the plan, which would balloon the shares of companies to give a nearly 80 percent stake to the government."--------
ONLY PREMIUM STOCK WILL BE PROTECTED. =======

THIS BAIL OUT SHOULD JUST ABOUT FINISH US OFF! (TIME TO OIL THE SECOND AMENDMENT!)

WITH NO HAND OUT FROM THE AMERICAN PEOPLE, -- THE MARKET WILL HAVE TO HEAL ITSELF!!
THIS 700B WOULD GO DOWN THE RABBIT HOLE AND JUST ADD TO THE OVER 20 TRILLION OF DEBT ALREADY OWED BY BUSH AND HIS "FOLLIES". (I had nothing to do with it and I don't owe them a dime!!!!!!!) (I approve this message!)

The article says "If after five years ... the CBO decides that the American taxpayer has lost money in this, then there would be a fee on financial institutions,". Does anyone believe that they won't just pass any fee along to the borrowers, raising costs to everyone? I just hope that we'll only "rescue" our own banks, and not foreign banks.

What's good about it?

your head is so buried in the sand, I don't know how you can breathe. Get informed!!!!

Mike-526019 Thanks for the info on John Perkins books.

I have just researched him and will buy his books, "confessions of an economic hit man" and "a game as old as empire". It appears to be very interesting and enlightening (from what I've read from the commenters of his books).

Sounds like what the U.S. govt did to other (developing) countries Perkins described in his books, are about to be played out on us poor unsuspecting United States citizens. Where will the money come from?,... us little people?... monies from other countries.?...will we be slaves to our own gov't?... or other countries? HOW SICK IS THIS. AMERICA IS SUPPOSED TO BE HOME OF THE FREE....YES, THE PUN WAS INTENDED.

What a sham for the borrowers! "The government will try negotiating with banks with the aim of lowering borrowers monthly payments, so they can try and keep their homes. DOES ANYONE BELIEVE THAT THE BANKS WILL ACTUALLY LOWER ANY ONES MONTHLY PAYMENT? This should have been mandatory, so homeowners who had been duped by predatory lenders would have had a fighting chance to stay in their homes!! Note that this provision was opposed by conservative house and senate republicans! This shows where their sympathy lies!

Amen!!
I've kept my nose clean for 66 years. I'm an American Patriot, a Navy Veteran, and always paid my taxes. I'm a homeowner who's had to watch my home's equity shrink to the point it'd be a "wash" if I could sell it today. This was to be my little nest egg. Shoulda' rented and kept the extra $$ in the mattress!!!
I don't know what's to happen, but the politicos better approve Paulson's/Bernanke's proposal today or it'll be John Steinbeck's "The Grapes of Wrath" all over again.
Or will they drag on long enough so that everything seizes up!! The politicians could care less. Unless a revolution, they lose nothing!!

elections = term limits. we can through some of the bums out every 2 years, most of them every 4 years, and all of them every 6. we need a smarter electorate, not meddling with the constitution.

the president needs the line item veto. congrespersons need to request special projects (earmarks) to show their constituents they're working for them. give the president the power to delete these items one at a time.

M. B.---I am so in agreement with you!!!

Excellent idea! Unfortunately it doesn't give the Washington politicians and money or power so they'd reject that out of hand. It's a shame.

M.B. Right on!!!! How many bank lobbyists and financial institution lobbyists are part of the discussion in Washington right now? How many have contributed to both campaigns?

Until we get rid of all lobbyists, special interest groups and corporations bullying Washington nothing will every change.

A very sad time in America. I fear for the future of our children and what they are inheriting and most of all of what is still to come.

This story has not ended yet.

Has it occurred to anyone that one sure way to recover most of the insane CEO compensation is to in fact tax excessive income at for example 90% (40 mill. now becomes 4 mill. - that should be enough.)
Never thought I would advocate taxes, but more of us rather than a few would benefit.

Do anything to keep the fox from guarding the hen house. The ones who are voting on government take over are the same ones who voted against regulation and pushed to finance a house for everybody no matter there ability to pay back. In turn the same ones who took big money from lobbyist etc. so they could finance their next campaign and other toys. Which enables them to beat the next sucker who runs against them who doesn't have a big enough war chest because their not on the inside. It's a VICIOUS circle.
M Bulson's suggestions would be a great START!!!! Do I hear line item veto too???

Yeah! They want to put into a fund money they will be getting from their BAIL OUT after all the CEO'S are paid, to provide for the poor.( SOME WHO ARE DRUGGED OUT DRUGGIES AND DRAINS ON SOCIETY WHO JUST DO NOT WANT TO WORK) Sure, so they don't have to pay back. The Americans who actually work for a living have to. They probably just want another account to steal out of, and leave an IOU that they do not have to pay back like they have stolen from SOCIAL SECURITY. ( SOME TRILLIONS OF DOLLARS) QUIT LYING TO THE AMERICAN PEOPLE YOU HYPOCRITE'S!! BUSH HOW MUCH DO AND YOUR FRIENDS GAIN FROM THIS. HOW MANY MILLIONS OR BILLIONS DID YOUR FAMILY MAKE FROM THE HIGH PRICE OF GAS. NICE SHOT OF YOU HOLDING HANDS WITH YOUR SAUDI SHEIK!! DO you plan on moving to Saudi Arabia after you retire. YOU ARE UP FOR THE NOMINATION OF THE WORST PRESIDENT IN HISTORY. IF EVERYONE KNEW THE TRUTH ABOUT WHAT REALLY HAPPENED AT WATERGATE YOU WOULD KNOW NIXON WAS NOT THE PROBLEM. They made sure he was kicked out pretty quick.BIG CONGRESS AND A HIGH PROFILE NAME WE WILL NOT MENTION. OH YEAH, thanks for stealing back my incentive check plus triple interest on the money we the people hat actually work , have to pay back your overseas friend you borrowed from to give it to us.

Larry,
line item veto is one of the few things I agree with you on. To bad it is unconstitutional.

While 90 % tax bracket is a bit overdoing it, the whole point of the upper tax bracket at 45 pct (or whatever it was) was to accomplish just that. It was the idea that CEO of big corporations who earned millions on the backs of their employees had to significantly pay back to provide services to the people who got them there.

When that bracket got whittled away, executive incomes went crazy, and services to the average American eroded.

I don't want to hear that these millionaires pay the most in taxes. They should. Without the common worker, who earns less than $ 60 thousand a year in salaries, these CEOs would be not making money at all. I do not mind that CEOs make a lot of money, but there needs to be some counterbalancing with increased taxation.

Larry Wilson,

It would be great to think that biennial elections would be useful as term limits. However, nearly 95% of all seated members of the House are reelected on name recognition alone. (). Take the 9th CD from PA as an example: Bud Shuster won his first election in 1972 and was reelected to office over the next 15 subsequent elections. Best part is he retired in 2001 after his final successful reelection and his son was elected in the special election called to fill the seat. One seat in the hands of one man (and his son) for 36 consecutive years. Sounds sort of like the U. S. Senate seat held by Senator Ted Kennedy, a family heirloom since 1953, except for the two years it was held by a JFK seat warmer until Ted could run. That is only 55 years. Somehow I don't think that is what the framers had in mind.

Voters are too apathetic to be relied upon to throw the bums out. Term limits work for the Executive branch, by a constitutional amendment, why not the Legislative branch? It is my humble opinion that the Founders believed in a Citizen Statesman much like they envisioned a Citizen Military.

chapin,

I understand your point, but the fact is that voters keep voting in the same people over and over aging because they choose to. I don't support the government taking back our right to choose our representatives. Term limits does that.

with all due respect, the constitution says nothing about term limits except by the amendment passed after FDR limiting the president. All that is needed is a law passed by a Congress. Of course the problem is that everyone wants the bums of both parties throw out except their bum as long as he/she brings home the pork. So you also need to add line item veto and no pork spending.

As far as this bill is concern, this Bill is on the Democrats as they control a majority in both houses and if it fails then the blame lies with them. Of course, there are a host of things to blame on the Republicans so you can't shake a stick in Washington without hitting a corrupt politician.

Revolution is the only way.

One addition- On line item veto- Every President has wanted this but the supreme court in the Clinton years struck it down so before revisiting that issue which is necessary, the original bill and the reasons the court struck it down need to be examine.
Also, the founders and many since have said it is good for democracy or a republic as that is what we really are because of the Electoral College, have said it is good to clean house every so often.
Finally, the term for House members is 2 years and senate is 6 years. It seems like 2-4--6 because they stagger the house seats.

In the end, no one can complain if we, the people sit on our backside and do nothing. Revolution is the only way as the system is too corrupt to be saved. Just look at the corrupt politicians sitting around the table on this massive bail-out. This includes the corrupt Democrats and corrupt Republicans. It is the height of hypocracy and shows how little these people really think of the American people when they act as if nothing is wrong in taking millions and then say 'we fighting for the average american."

That won't do anything.

Look at the "good old boys and girls" lists on the Corporation websites. Look at the Biographies of the Corporation Board Members.

Presidential Advisors, Federal Reserve Members, Haillburton, etc..

Since I look for solutions that work and not just state that things don't work.

Heres a proven workable solution. TV Commerical, "More people voted in a singing contested, than voted, please vote." Ok, we know that the voting on "American Idol" works. That would be a true democracy. No more special interests, no more lobbiest, they cannot bribe all of us. Oh, no more "chits" like Florida. LOL. (watch the opening part of Zombie Strippers, about Presidental Election at Florida).

Now you are going to say "Hackers", ok, all the Hacker that get caught have a choice as "Cyber Terrorists" under Patriot Act, life imprisonment, execution, or work catching other Hackers (with quota).

maurice-311399--

I was amused to see your post about taxes.

I bet very few here know (or remember) that when Kennedy was sworn in, the top marginal tax rate was 91% for incomes over $200,000 single, $400,000 married.

That same year, the lowest bracket was 20% for incomes less than $2000 single and $4000 married.

What is wild about this fact is that the highest rates of growth in our economy occurred during the Eisenhower years after WWII, when the top tax rates were over 90%!

It is a fair statement that past some point, additional income is superfluous, and detrimental to society. The nation thrived under those rules. The modern thinkers, drunk on Supply Side fairy tales would have it that the wealthiest should be almost tax-free, and that alone would usher in an era of utopia.

The truth, toxic as it is, is really simple. We, as a people must decide on what level of services we want government to provide, and pay for it accordingly. If anyone thinks they could buy much of what our government provides the average citizen on the common market for less, they are ignorant or worse.

We are today spending a Billion and a Half a week on Iraq. What will be the weekly cost for the WallStreet Con? Something like $10,000 for every household in America, while the remaining national debt is something like $95,000 per household.

I see now. The government will control us through economic slavery, with fear as the opiate to dull the pain. Indeed- the love of money is the root of all evil.

tscar12

I am aware that the biennial elections refer only to the members of the House and that they all face reelection every election. I am also aware that the term for a member of the Senate is six years and that only one-third face reelection every two years. There was nothing I stated earlier that could be misconstrued about that. JFK's seat was filled by a Harvard classmate for the two years remaining on his term. Then he relinquished it to Ted.

sk-nitroWV do you have any proof (ex. a URL or legitimate book) that says the upper tax rate for incomes over $200,000 was 91% under Kennedy? I do not find this believable unless you can support it with legitimate documentation.

to Chapi1980-
I wasn't directing the comments at you so I am sorry if it came across that way. As far as your comments on the Kennedy's, you are dead-on right. During this time,Ma. politics was as corrupt as Daily in Chicago or Johnson in Texas. In the 1960 election, one would be amazed at the clear-cut evidence there was of both Daley and Johnson raising people from the dead to vote. Even with that, Joseph Kennedy ( he and Mr. Fitzgerald made their money the old-fashion way- running gin during Prohibition) through Lawford, ask the Mob to intercede in Chicago. The evidence was so overwhelming and blatant that the RNC pleaded with Nixon to challenge the results of Illinois and Texas in court and he would have won one of those states and the Presidency. In the only altruistic thing Nixon ever did in his public life, he said no because he thought it would create a constitutional crisis. That is not to say the RNc wasn't corrupt wither during this time just to say the DNC was better at it.

Without debating the merits of the bailout except to say that id something is not done then America is toast. You will see a cascading effect throughout our economy. The problem is that neither candidate or party is willing to step up to the plate and make the tough decisions.

In the house, the Democrats, not burden with the threat of a filibuster (which is why a lot of Pork is eaten in the house), a vote could be held and the Democrats have a majority so it would passes but they don't want to do that because their greedy hands are all over this industry just like the Republicans. In the Senate, with filibuster as now a tool to not get anything done (which started when the Democrats used it when they were the minority party), they could still force a vote.

The simple fact is that this congress, both Republicans and Democrats have an approval rating of only 10-13%. heck, the semi-illlerate President we have has an approval rating of around 30% so that tells you how bad things are in our "great" capitol.

At the end of the day, All the American people are to blame because we all know that most of the members of congress will get re-elected. So what does that say about us. We deserve what we get.

Yes, the system is rotten in both parties at the core but it is our fault and we must share in the4 blame. Myself included and if we just continue to do the same, the end of our country as we know it is close at hand. The choice is ours. The only question for the American people is do we have the courage to make the right choice.

Finally, I post something that was posted by a group called the coalition for a United America which, I believe gives us a start, though a lot is left out, at changing the system:

We propose some starting points and reasons for these points in the hopes that the American People don't automatically buy into either party use of clicheés.
1) Immediately withdraw troops from Iraq- no time line and no imperialist-minded talk from senators (i.e.) Biden's suggestion that we impose a federation on the people of Iraq. Whatever government they have is THEIR decision and no more American blood should be shed. If they can't get their act together that's their problem and not ours and our international imperialism smacks, in the Arab's mind, of European colonialism.
2) Immediately remove all troops from Afghanistan. If the Soviets got bog down there in a quagmire, we will to and no launching attacks against a very unstable government like Pakistan. No amount of troop surge will work and the war lords Intel cannot be trusted because of their infighting. We do favor, before leaving spraying all poppy field in both countries to take away the money for the warlords and terrorists.
3) Recognize that both wars do no save us money to devote to other projects since these wars are paid for by the national credit card and increase the deficit which profoundly affects the value of the dollar and our economy.
4) Encourage American Business to bring jobs back home by offering tax incentives and punish those that don't by increase taxes.
5) Encourage the oil companies to devote their profits to alternative sources of fuel by tax incentives and if they don't increase their taxes.
6)Bring home the troops from NATO- NATO was founded to counter a very real Soviet threat which no longer exist and by us basically assuring the Europeans that we will defend them, we have allowed them to decrease military spending as a % of Gross national Product, Subsidize their companies (Airbus), and put up roadblocks to American goods.
7) Bring home any remaining U.S. troops from the Balkans. If the people in this area can't get their act together than that's their problem and Europe's problem not ours.
8) Since we don't have enough money to fund all sorts of alternatives, we need a rational approach to eliminating non-starters and this means base it entirely on science and not pork barrel for members of Congress who come from agricultural states.
9) Re-build our military and emphasize a rapid response. This includes bringing out of mothballs our U.S. Fleet, developing newer generation of the Predator and new generation of aircraft.
10) End all types of short-selling on Wall Street.
11) Bring Mac and Mae back into the government as they were originally designed and regulate them.
12) Mandate that any company that is going under, the execs and board of directors receive no compensation.
13) Eliminate all lobbying groups from access to Congress.
14) Institute Term Limits
15) Eliminate the Electoral College which was devised during another era and is not suited for today. If we can elect local, state and members of congress by direct vote then there is no reason we can't elect a President the same way
16)Look at the laws that make near impossible for a true 3rd party to develop in this country and change them.
17) Recognize that Global warming and dimming are scientific facts BUT without the cooperation of China and India, no amount of reduction is going to make any difference.
18) Extend unemployment benefits until economy stabilizes.
19) No flat or consumption tax. This has a very negative effect on the working poor and middle class.
20) Repeal the Marriage family Protection Act with the stipulation that churches have a right to say no to weddings.-. The lack of outrage by the elite in Glaad and HRC and their continue support, including the democratic nominee who has said that marriage is between a man and woman. This shows that they truly don't care about everyday gays/lesbians. We would include Maddow in this elitist group. She has been a proud outspoken member of the press that has advocated democrats even though they have betrayed gays/lesbians for 20 years while still accepting millions. Also, we will give everyone 1 guess where she was on the 28500.00 a plate fundraiser for Obama.
21) Reform Welfare from the 1996 act that has had a devastating effect on the poor.
22) Start a new government program, at the cabinet level, that is charged with re-training Americans in the new global economy.
23) Increase capital gains tax to 20%
24) Increase Senator Obama's 250,000.00 tax line to 300,000.00. This will help small mom and pop businesses.
25) Repeal the Bankruptcy laws that make it impossible for average Americans crushed under debt to file and came about because of both parties accepting donations from the credit card industry.
26) A recognition that, in the end, our security depends on securing both our north and south borders and putting a 700 mile fence along a 2300 mile border is the height of idiocy which is the hallmark of the parties.
27) Mandate that all food whether imported or grown here has a place of origin label on it.
28) Mandate clear and simple rules that credit card issuers must follow so that consumers don't get shafted and these companies get bailed out when things go south.
29) Set-up a bi-partisan commission to study how to fix social security and Medicare before they go bankrupt
30) Come up with a systematic plan and hold both parties feet to the fire on a long-term strategy to eliminate our national debt.
31) short-selling- if legislation is needed to end this practice then it needs to be passed. Even with strict controls in place, greedy people will always find a way around the system so we need a strong enforcement arm of the SEC that is actually help accountable and not just by the NY Attorney General Office but by the Federal government. Right now this is problematic because the Feds don't have, constitutionally, much control over the SEC. Thank Joseph Kennedy for that one but a way must be found. Given that greed will always exist, we need tough sentencing and financial penalties that take this type of crime from the so-called "white-collar crime to the "hard-time" crime and sentence these people to jail.
32) We believe in either National health care or a more reasonable solution which would be a combination of both National and Private. BUT, before doing this we must get at the root causes of the spiraling costs and they range, with a lot in between, from trial lawyers that drive up insurance to drug companies that make billions then change a few ingredients and make another billion. If we don't deal with the cost factor by putting in place "contract" rates than we face the same problem that is now happening in Ma. There is an old cliché about the road to hell is paved with good intentions and the Ma. Legislature on this issue is a good example. They wanted everyone to have Insurance so they mandated through a tax (which puts a harsh burden on the working poor and middle class) an insurance plan. What they DID NOT do is put in contract rates and now the for-profit doctors, hospitals, and drug companies can charge full price and the agency running the show will run between 400,000,000.00 and 700,000,000.00 deficit. I would say that it is a Ma. Problem but given the amazing ability of their Congressional team to send home the pork, we will probably end up footing the bill. Finally, another thing that needs to be done is banned all ads from trial lawyers and drug companies and doctors and hospitals on TV, Radio, Print or Internet.
33) Foreclosures- frankly, this is a mess. We favor a temporary halt to foreclosure but not on those that bought more than one home. For those people, tough. This problem is going to require different approaches depending on the reasons. For those that did qualify, we favor a re-valuation of their property and that be used to calculate a new payment with no hit on their FICA score. For those that got in over their head, we favor moving them to a less expensive home and re-valuate that home and again, no hit on FICA score.
34) Credit Card- This is the next meltdown (which will be more devastating than what we have seen) and it so happens that most of the questionable ones are in Delaware and have poured a lot of money into the campaigns of members of congress. This one is complex and what is offered might be too simple but we have to start the discussion somewhere"
a) Set max. Default rate at Prime plus 7 pts.
b) Give customers the choice between variable and fixed rate
c) Don't allow credit card companies to cut or freeze credit limits any account that is in good standing as this will hurt your FICA score.
d) Eliminate mass mailings and running any sort of ads on TV, Radio or Print or Online.
e) State clearly in big bold black print what the interest is, what it can be if a person defaults or is late and if any fees are paid. This warning box needs to be on Page one of their agreement.
f) Bring charges against any lawmaker that accepts money from any financial institution.
If we have left some things out let us know and we will post again.

Coalition for a United America.

We would add that the time has also come to hold CNN, MSNBC, FOX news, and the other networks for not being true reporters but mouthpieces for one party or another.
Sorry about the length but if you want 30 or 60 second sound bites then listen to the corrupt politicians.

It is too bad really. You have Mccain grandstanding and a very touchy bill. What happens? A political tug of war because Mccain made this about an election not a bill. Nothing will be done because both parties are worried of losing face and an election. Mccain is so self centered! Why can not the guy just run his campaign like everyone else because his tactics are very transparent and now we all suffer through his arrogance.

John McCain is interested in greater oversight of the finance industry and has been for years. He tried to get legslation passed in 2003 that would have provided more oversight, and gave this speech on the Senate floor in 2005:

"FEDERAL HOUSING ENTERPRISE REGULATORY REFORM ACT OF 2005
The United States Senate
May 25, 2006
Sen. John McCain [R-AZ]: Mr. President, this week Fannie Mae's regulator reported that the company's quarterly reports of profit growth over the past few years were "illusions deliberately and systematically created" by the company's senior management, which resulted in a $10.6 billion accounting scandal.
The Office of Federal Housing Enterprise Oversight's report goes on to say that Fannie Mae employees deliberately and intentionally manipulated financial reports to hit earnings targets in order to trigger bonuses for senior executives. In the case of Franklin Raines, Fannie Mae's former chief executive officer, OFHEO's report shows that over half of Mr. Raines' compensation for the 6 years through 2003 was directly tied to meeting earnings targets. The report of financial misconduct at Fannie Mae echoes the deeply troubling $5 billion profit restatement at Freddie Mac.
The OFHEO report also states that Fannie Mae used its political power to lobby Congress in an effort to interfere with the regulator's examination of the company's accounting problems. This report comes some weeks after Freddie Mac paid a record $3.8 million fine in a settlement with the Federal Election Commission and restated lobbying disclosure reports from 2004 to 2005. These are entities that have demonstrated over and over again that they are deeply in need of reform.
For years I have been concerned about the regulatory structure that governs Fannie Mae and Freddie Mac-known as Government-sponsored entities or GSEs-and the sheer magnitude of these companies and the role they play in the housing market. OFHEO's report this week does nothing to ease these concerns. In fact, the report does quite the contrary. OFHEO's report solidifies my view that the GSEs need to be reformed without delay.
I join as a cosponsor of the Federal Housing Enterprise Regulatory Reform Act of 2005, S. 190, to underscore my support for quick passage of GSE regulatory reform legislation. If Congress does not act, American taxpayers will continue to be exposed to the enormous risk that Fannie Mae and Freddie Mac pose to the housing market, the overall financial system, and the economy as a whole.
I urge my colleagues to support swift action on this GSE reform legislation."

Alas, thanks to the Democrat Party and the special interests of the left, both of these attempts to reform the banking system were still born.

The legislation the White House is promoting would allow the government to buy bad mortgages and other sour assets held by investors

We the People are being forced to buy bad mortgages and other sour assets held by investors, whether we want to or not.

Tax breaks would provide additional incentives to invest

Not only do we have to take out there garbage, were obligated to give them tax breaks so they can accumulate more garbage for us to take out.

Lawmakers worked against the clock to try to get a deal or even pass legislation before Asian financial markets open Monday.

Why the panic by the Administration and Congress?

How much investment money do members of Congress, Bush, the Administration, their families, friends and co-conspirators stand to lose, but for the "bail out"?

As little as the House and Senate actually worked this year, besides their minimal accomplishments and their generosity to themselves, their families, friends and co-conspirators, they have not been able to pass any important legislation. Instead, they spend their time raising money for themselves and bickering.

Now that their purse is on the block, they burn the midnight oil.

lawmakers soon would pass a rescue plan before leaving Capitol Hill to campaign for re-election.

How much of their campaign war chest has been filled or will be filled by those being "bailed out"?

BLAIR,

Your comment doesn't rate any approval votes because you are so far from being right about anything.

Michael

Your comment doesn't rate any approval votes because you are so far from being right about anything.

Yea right, I really live for your approval.

With all your googled intelligence how about elucidating as to how far from being right about anything I am, and enlighten me as to what's really right.

Any @!$%# can criticize others without having an opinion of their own.

I hate to inform you people but we do not get to vote on the issues, we get to pay them. The only thing any of us can do is to find out what your person in Congress did or proposed and vote .

No matter what safeguards you put in with this congress, both Republicans and Democrats, they will always find a way to line their pockets and their war chests to get re-elected.
Revolution will work but only if the American people quite taking sides of one party over the other and quite complaining and take to the streets. otherwise, America gets everything it deserves and that is a has-been country that's Idealism was sold out for and by allegiance to a party and not country.
BTW- the founders also thought an occasional revolution was good for this country. To bad we,ve become a nation that likes to complain but not take courageous stands when the need has risen and folks THE NEED HAS RISEN.
So all of you and the rest of America has a choice: 1) continue on the same path to decay and elect either republican or democrat or
2) Revolt.
If you choose 1 then don't complain when the next crisis hits and the same corrupt politicians are in office. At the end of the Day it is the American people's fault. When American companies are taken over by foreign ones, it is the American people's fault, when the dollar is only good for burning for heat, it is the American people's fault, when are children are not educated, it is the American People's fault, when people's retirements go down the drain, It is the American People's fault, when no one can find a job at a living wage, it is the American people's fault, and when our infrastructures crumble, it is the American people's fault.
In the end, because we stood on the sidelines at this moment in history, America will get what it deserves because the American people just don't want to be bothered.

Sad but true Muttface.

The bailout's sole purpose is to save and preserve the status, opportunity and privilege of the economic elite.

We now live under pure Kleptocracy.

I agree!

Every corporate executive involved should be denied employment in the industry for at least 1 year and up to 3 years. Obviously, they don't know what they are doing, so keeping them on in any capacity is a travesty (including Paulson).

If we can't get rid of all lobbyists, then at least ban anyone involved in this debacle from associating with any of our representatives.

It would cost too much in court costs to convict them of anything; only the lawyers would profit.
By kicking them out of the process, we would actually benefit.

This bailout is not necessary, just cause bush says so don't make it so. Why can't this generation fix this problem or suffer thru it why leave it for babies who have yet to be born. this makes two trillion we now are leaving the kids. Why? Because we will not suffer thru our own mistakes.

Here's some of what I hope will be included in the bill.

Any hidden benefits for executives and heads of corporations found in the bill will be invalidated upon discovery and that institution loses participation in the plan.

Any misuse of this fund by anyone for any reason other than what it was intended for constitutes a felony fraud charge automatically upon the perpetrator.

Publicly released details of each transaction with every institution involved as this plan is implemented.

Any profits that may be derived from this plan will be directly rebated back to taxpayers in the form of checks, direct deposits or credits towards any taxes owed.

American citizens have no say in this scam. Our Representitives no longer represent THE PEOPLE, they represent the big moneyed intrest with their hands out for the kick back.

Why the panic by the Administration and Congress?

How much money would members of Congress, President Bush, the Administration, their families, friends and co-conspirators lose, but for the "bail out"?

Imagine the size of their investment portfolios.

The Bush family fortune would be wiped out.

The quick legislation and vote for the "bail out", shows how fast Congress can act when their lot is on the block.

There's no conflict of interest here it's all being done for the benefit of the little people, the average citizens and their families, seniors and small business. How courageous and honorable.

Face it this "bail out" is nothing more than a red herring to cover up corruption, fraud and grand larceny on an astronomical scale.

Your kidding right?

Buckn - OK. The bailout is necessary. I accept that. Taxpayers must bail-out big business.

http://www.nowallstreetbailout.com/

this goes beyond the republican or democratic parties. NO BAILOUT. AND NO THIS WILL NOT WORK. NO CONFIDENCE IN GOVERNMENT, THEY ARE DOING THIS AND THE CITIZENS OF USA, AS EVIDENCED BY THIS POLL SAY, NO BAILOUT.

Get rid of the cause(s) and you get a different effect(s).

How long have we been bailing out the unAmerican Auto Industry? 25 Billion this time.
This bull@!$%# about retooling, research and bailouts has been going on since 1970s. GM, Ford already have built more than 3 million E100 and more than 6 million "Flex Fuel" Vehicles in Brazil (ethanol fuel in Brazil, wikipedia). Isn't lying under oath to Congress a crime?

The bums keep coming back to the "cash cow" because we don't get rid of them, so there is the precedent of what these "Wall Street" Corporation Board Members are going to keep doing until they are gotten rid of.

I keep saying that Ford, GM, Chrysler are unAmerican. That is the truth, where are they built?, Mexico and Canada. So unless the United States of America annexed Mexico and Canada as new States. These are Mexican and Canadian products. Putting on one or two bolts at an assembly plant in the U.S. on a car made in Mexico or Canada is not assembled in the U.S. stop lying. The only real American Auto Plants are located in Kentucky, Toyota; California, Honda; Alabama, Hyundai; Nissan, USA.. Americans building cars at U.S. of America for Americans. Stop lying to the Citizens of the United States of America, we know. Since 1994 NAFTA, Ford GM Chrysler and afterwards all their U.S. Auto Manufacturing was being sent "outsourced" to Mexico or Canada. This makes them Canadian or Mexican built or assembled that makes Ford, GM or Chrysler Canadian or Mexican, NOT AMERICAN.

Get rid of the Corporate Board "good old boys and girls" of AIG, Lehnman Brothers, Fannie Mae, Freddie Mac as what they are, Treasonous Terrorists. Ship them to Guantanimo no legal representation, no communications, just like the Treasonous Terrorist they are. They made their choice, stuff their pockets with money over the Citizens of the United States of America and the interests of the United States of America. (definition of Treason, wikipedia).

We are at War, "Global War Against Terrorism". They succeeded in accomplishing what the 911 Terrorists failed to do, collapse of the U.S. Economy. Legal precedent, World War II, these people would have been tried by Military Tribunal and executed as Traitors. Even Warren Buffet called this crisis "an Economic Pearl Harbor". Ok, these are the individuals (Corporate Board Members) that attacked the Economy United States of America and therefore; the Citizens of the United States of America.

Same with the Corporate Board Members of the unAmerican Auto Industry, GM, Ford, Chrysler, sabotaging the U.S. Industrial Complex, part of the U.S. Defense Industrial Complex.

Stop calling it "Wall Street", Wall Street is inanimate, just like saying that a car drove into something. The car cannot drive it's self, someone is responsible as the driver. These Corporate Board Members are the ones that bombed "Pearl Harbor"ed the U.S. Economy.

Bottom line these "Lawmakers" are bailing out their buddies. Read the Biographies of the Corporate Board Members of Lehnman Brothers, AIG, Fannie Mae, Freddie Mac. These lists of these Corporate Board Members should be the Prosecution Lists for Treason and Terrorism.

Former CEO Haillburton, Presidential Advisors, Federal Reserve, IBM, club members of Economic Club, etc..

Cross reference these lists with the "Law makers" and political contributors. So unless you get rid of the cause, same effect. Over and over again just like the unAmerican Auto Industry bailouts.

BOHICA (Bend Over Here It Comes Again), no KY Jelly or Vasoline, maybe a "donkey punch" this time.. Trillion USD.

Better Idea Trillion USD + 25 Billion USD = Trillion, 25 Billion divided by all US Citizens (not illegals) = how much each of us gets to "stimulate the U.S. Economy".

"Common" American says:

"Polls 63.3% NO BAILOUT"

"If Bailout, NO GOLDEN PARACHUTES."

"Bush lied, his lips were moving", bush lied when he said that, "no individual corporations were responsible for the crisis at Wall Street." The corporations and corporate board members that were responsible were Lehnman Brothers, AIG, Fannie Mae, and Freddie Mac.

"impeach the bitches that vote for the bailout".

http://www.nowallstreetbailout.com/

Is this a joke??

"Buckn - OK. The bailout is necessary. I accept that. Taxpayers must bail-out big business."

We need to find out who is being BLACKMAILED?

What's it going to take TO TAKE OUR COUNTY back? Realistic proposals--Please no dumb comments.

Common Sense, Thomas Paine

that the ELECTED might never form to themselves an interest separate from the ELECTORS, prudence will point out the propriety of having elections often: as the ELECTED might by that means return and mix again with the general body of the ELECTORS. On this, depends the STRENGTH OF GOVERNMENT, AND THE HAPPINESS OF THE GOVERNED.

Vote the democrates and republicans out of office.

Some Congressman have been in office for 30 years or more give them a rest. get some new blood in there.

roger,

this thing has been building for seveal years, not just the 2 that democrats have had the majority in congress......if you're casting blame, you need to blame republicans, too.

I do blame them all!! McCain cosponsored legislation in 2005/2006 to stop this and it got buried. Although several Republicans supported this legislation, and a few Democrats too, Dodd fought it all the way down the line and it got buried.

Roger, the Republicans controlled the House, the Senate and the Executive branch in 2005/2006. How then were the Democrats able to stop McCain's legislation? Doesn't make any sense. What was that legislation? (No, I'm not being snide. I really am curious.)

StormAZ,
Calm down and read all the posts. Roger didn't say it was just the demacrats. He laid blame with both parties!

Federal Housing Enterprise Regulatory Reform Act of 2005. McCain co-sponsored

Ok, I've done some looking via Google and the net and answered my own question:
The bill Roger is referring to was called "S. 190 [109th]: Federal Housing Enterprise Regulatory Reform Act of 2005 Introduced 1/26/05 by Sen. Charles Hagel [R-NE] and cosponsored by Sen. Elizabeth Dole [R-NC] and Sen. John Sununu [R-NH].

McCain also became a co-sponsor but not until May of 2006, 10 months after the bill had died in committee and 16 months after it was introduced. I'm not sure why this was done, but there is the infamous McCain legislation that would have stopped our current financial crisis. I've read much about it on the blogs the last few days, so hopefully this info will help others who were as puzzled as I.

The site I located this under is called govtrack, but since NewVine strips away website addresses, I could not post that here.

Glad you got that storm!

Here is your link.

GO HERE

McCain's specific comments, on May 25, 2006:

"Mr. President, this week Fannie Mae's regulator reported that the company's quarterly reports of profit growth over the past few years were "illusions deliberately and systematically created" by the company's senior management, which resulted in a $10.6 billion accounting scandal.

The Office of Federal Housing Enterprise Oversight's report goes on to say that Fannie Mae employees deliberately and intentionally manipulated financial reports to hit earnings targets in order to trigger bonuses for senior executives. In the case of Franklin Raines, Fannie Mae's former chief executive officer, OFHEO's report shows that over half of Mr. Raines' compensation for the 6 years through 2003 was directly tied to meeting earnings targets. The report of financial misconduct at Fannie Mae echoes the deeply troubling $5 billion profit restatement at Freddie Mac.

The OFHEO report also states that Fannie Mae used its political power to lobby Congress in an effort to interfere with the regulator's examination of the company's accounting problems. This report comes some weeks after Freddie Mac paid a record $3.8 million fine in a settlement with the Federal Election Commission and restated lobbying disclosure reports from 2004 to 2005. These are entities that have demonstrated over and over again that they are deeply in need of reform.

For years I have been concerned about the regulatory structure that governs Fannie Mae and Freddie Mac--known as Government-sponsored entities or GSEs--and the sheer magnitude of these companies and the role they play in the housing market. OFHEO's report this week does nothing to ease these concerns. In fact, the report does quite the contrary. OFHEO's report solidifies my view that the GSEs need to be reformed without delay.

I join as a cosponsor of the Federal Housing Enterprise Regulatory Reform Act of 2005, S. 190, to underscore my support for quick passage of GSE regulatory reform legislation. If Congress does not act, American taxpayers will continue to be exposed to the enormous risk that Fannie Mae and Freddie Mac pose to the housing market, the overall financial system, and the economy as a whole.

I urge my colleagues to support swift action on this GSE reform legislation."

Glad to see some informed posts on here. Keep looking, 9/11/03 NYT Stephen Labaton writer, "New Agency Proposed to Oversee Freddie Mac and Fannie Mae" an especially glib quote from none other than Barney Frank that is priceless.-
''These two entities -- Fannie Mae and Freddie Mac -- are not facing any kind of financial crisis,'' said Representative Barney Frank of Massachusetts, the ranking Democrat on the Financial Services Committee. ''The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.''
another from Melvin Watt NC dem-
''I don't see much other than a shell game going on here, moving something from one agency to another and in the process weakening the bargaining power of poorer families and their ability to get affordable housing,'' Mr. Watt said.
Thank You dems, and for those of you that think bills can get passed by the majority without some line crossers check out the vote on this proposal. Party lines Reps for , Dems against. defeated.

Alan, you have to be wrong about that party line vote.

In 2003 Repubs were the majority. In a pure party line vote, the measure passes. You are missing something. There absolutely had to have been some Republican opposition. You are, at a minimum, overstating your case blaming Democrats and exonerating Republicans. It's just not that simple.

Alan-
S190 (the bill talked about here) was not even introduced until 2005. HOW could the New York Times report on it in 2003?

All told, your slant and intent is clear.

sk-nitro,
Alan is not talking about S190. He is in fact talking about one from 2003.

9/11/03 NYT Stephen Labaton writer, "New Agency Proposed to Oversee Freddie Mac and Fannie Mae"

Check the dates here

go back even further to 1999 and see who really pushed for this mess...CLINTON because heaven forbid you tell someone they cannot afford the house they want...you would then be discriminating against them in some way...believe me I heard it.
everyone in a house they cannot afford wanted to be in that house and were blissful in their ignorance as they signed the dotted line...

homeloanchic - Clinton signed it, but McCain's buddy, Phil 'Deregulator' Gramm wrote it. Gramm-Leach-Bliley. There is plenty of blame to go around both parties.

The problem with this bill is it kept the regulations on the Banks but did not include the new Wall street service's that are in trouble today. Graham was wrong by not including them in this bill. The bill passed the senate the first time 54-44 with only one democrat voting for it then it went to conference and was amended to include some of the democrats and conservative republicans controls that Clinton wanted. It finally passed both houses out of conference.

What did it do. Well this may be the root of the problem. It was not the Democrats or republicans fault. Sure they overlooked not including these new banks in the same way they did banks and that led to a serious loophole. The Banks and lenders had a field day. They loaned money to anybody they could get to sign the paper. They then sold these mortgages to investment banks who were not overseen as they should have been or FM's.

The banks are the enemy.

c,

the good news out of this is that your $2300 buys someting of value, so it's not all lost. the mortgages that WE acquired will eventually be resold once the market settles down. we may even make a profit on some of them. so it's not as bad as you think.

We. What exactly does we mean? Will "we" actually see any of this money?

cbiegel - Your point is well taken. The $2300 is per PERSON not taxpayer. That's $2300 X 300,000,000 people. It's a really obscene number.

Secondly - We, the People, aren't in charge of anything. Our voices aren't heard by either party. They just talk and give speeches to be elected. After that, they aren't accountable to anyone.

If we were each all to get hit with a $2300 tax bill every year besides our normal taxes, our entire economy will be in even more trouble than it is now.

In regards to buying something of value, it's difficult to imagine buying something that no one else wants to touch is a good investment.

Larry Wilson

c,

the good news out of this is that your $2300 buys someting of value, so it's not all lost. the mortgages that WE acquired will eventually be resold once the market settles down. we may even make a profit on some of them. so it's not as bad as you think.

Post #8.1

Not true, it is only worth what someone is willing to pay for it. This is the same mentality that was prevelent before the Great Depression. (wikipedia).

If the bailout money goes into the Corporate Board Members Pockets, just like the previous bailouts of Ford, GM, Chrysler, it will go to Foreign Investments (Mexico and Canada). This is documented History. Which makes Ford, GM, and Chrysler Mexican and Canadian, NOT AMERICAN. Don't blame the unions either, look at other countries with stronger unions than U.S.. That got Ford, GM to build 6 million Flex Fuel and 3 million E100 Vehicles in their country. Corporate "Blame game", excuses, not solutions. (ethanol in Brazil, wikipedia).

Their History proves their lies to the U.S. Citizens.

Bail them out now and these Corporate bums and the GM, Ford, Chrysler bums will be back to "milk" the "cash cow" again and again and again. This is also History of Corporate Behavior, not opinion.

BOHICA (Bend Over Here It Comes Again)!!!! No KY Jelly, No Vasoline. Maybe a "donkey punch".

david,

the thing of value I'm talking about is a mortgage that's attached ownership of a home. If you spend $2300 to buy an asset that's currently undervalued, and you hold on to it for a while, there's a very good chance that it will be worth more than $2300 when you sell it. that's all.

I'm not saying that the bailout will even work this way...there hasn't been any information about the mechanism, that is, no illustration of how a specific case might be handled.

If it's just a matter of handing a bank some money to cover their a**, I'm against that.

I thought they were talking about purchasing one these bundles of mortgages, then pulling out the individual mortgages and resolving them on a case by case basis. I would certainly appreciate some more detail on how this process is supposed to work.

Larry, the problem is that we are buying an asset for $2300 that has a book value of $2700 but in reality may be worthless - these banks have been trying to unload these securities for months for as little as 20 cents on the dollar and aren't having any luck to date. But it appears that they may have found a sucker in the US taxpayer.

Where's our bail out check? Are we going to get a big fat refund next April? I am a Democrat & I want my money to go to poor AND the middle class, AKA my pocketbook, not the rich 1% like Mccain. Programs? If the Republicans stay in the oval office, we will need programs for the middle class too. Robin Hood just gave to the rich.

PLEASE Don't speak for Democrats when you're not.

Roger, my thoughts exactlly!!! Why not pay back your CREDITORS whom you have BORROWED from? The US Citizens. I am completely against giving any money to any fund. Give it ALL back to the taxpayers.

When what we (the Government) are buying gets sold, any and all profits should go to the National Deficit. Pay off the Government credit card and then chop it up.

No, I blame Regan, and Bush 1 too.

this goes beyond the republican or democratic parties. NO BAILOUT. AND NO THIS WILL NOT WORK. NO CONFIDENCE IN GOVERNMENT, THEY ARE DOING THIS AND THE CITIZENS OF USA, AS EVIDENCED BY THIS POLL SAY, NO BAILOUT.

http://www.nowallstreetbailout.com/

Get rid of the cause(s) and you get a different effect(s).

How long have we been bailing out the unAmerican Auto Industry? 25 Billion this time.
This bull@!$%# about retooling, research and bailouts has been going on since 1970s. GM, Ford already have built more than 3 million E100 and more than 6 million "Flex Fuel" Vehicles in Brazil (ethanol fuel in Brazil, wikipedia). Isn't lying under oath to Congress a crime?

The bums keep coming back to the "cash cow" because we don't get rid of them, so there is the precedent of what these "Wall Street" Corporation Board Members are going to keep doing until they are gotten rid of.

I keep saying that Ford, GM, Chrysler are unAmerican. That is the truth, where are they built?, Mexico and Canada. So unless the United States of America annexed Mexico and Canada as new States. These are Mexican and Canadian products. Putting on one or two bolts at an assembly plant in the U.S. on a car made in Mexico or Canada is not assembled in the U.S. stop lying. The only real American Auto Plants are located in Kentucky, Toyota; California, Honda; Alabama, Hyundai; Nissan, USA.. Americans building cars at U.S. of America for Americans. Stop lying to the Citizens of the United States of America, we know. Since 1994 NAFTA, Ford GM Chrysler and afterwards all their U.S. Auto Manufacturing was being sent "outsourced" to Mexico or Canada. This makes them Canadian or Mexican built or assembled that makes Ford, GM or Chrysler Canadian or Mexican, NOT AMERICAN.

Get rid of the Corporate Board "good old boys and girls" of AIG, Lehnman Brothers, Fannie Mae, Freddie Mac as what they are, Treasonous Terrorists. Ship them to Guantanimo no legal representation, no communications, just like the Treasonous Terrorist they are. They made their choice, stuff their pockets with money over the Citizens of the United States of America and the interests of the United States of America. (definition of Treason, wikipedia).

We are at War, "Global War Against Terrorism". They succeeded in accomplishing what the 911 Terrorists failed to do, collapse of the U.S. Economy. Legal precedent, World War II, these people would have been tried by Military Tribunal and executed as Traitors. Even Warren Buffet called this crisis "an Economic Pearl Harbor". Ok, these are the individuals (Corporate Board Members) that attacked the Economy United States of America and therefore; the Citizens of the United States of America.

Same with the Corporate Board Members of the unAmerican Auto Industry, GM, Ford, Chrysler, sabotaging the U.S. Industrial Complex, part of the U.S. Defense Industrial Complex.

Stop calling it "Wall Street", Wall Street is inanimate, just like saying that a car drove into something. The car cannot drive it's self, someone is responsible as the driver. These Corporate Board Members are the ones that bombed "Pearl Harbor"ed the U.S. Economy.

Bottom line these "Lawmakers" are bailing out their buddies. Read the Biographies of the Corporate Board Members of Lehnman Brothers, AIG, Fannie Mae, Freddie Mac. These lists of these Corporate Board Members should be the Prosecution Lists for Treason and Terrorism.

Former CEO Haillburton, Presidential Advisors, Federal Reserve, IBM, club members of Economic Club, etc..

Cross reference these lists with the "Law makers" and political contributors. So unless you get rid of the cause, same effect. Over and over again just like the unAmerican Auto Industry bailouts.

BOHICA (Bend Over Here It Comes Again), no KY Jelly or Vasoline, maybe a "donkey punch" this time.. Trillion USD.

Better Idea Trillion USD + 25 Billion USD = Trillion, 25 Billion divided by all US Citizens (not illegals) = how much each of us gets to "stimulate the U.S. Economy".

"Common" American says:

"Polls 63.3% NO BAILOUT"

"If Bailout, NO GOLDEN PARACHUTES."

"Bush lied, his lips were moving", bush lied when he said that, "no individual corporations were responsible for the crisis at Wall Street." The corporations and corporate board members that were responsible were Lehnman Brothers, AIG, Fannie Mae, and Freddie Mac.

"impeach the bitches that vote for the bailout".

http://www.nowallstreetbailout.com/

It's not just $700,000.00 The Federal Reserve announced it will lend $2 trillion+ in taxpayer monies to bolster the huge money market mutual fund industry.

If this is all being done for the benefit of the little people, the average citizens and their families, low income seniors and small business. Give them each a $1,000,000 and be done with it. Guaranteed our economy would sky rocket.

It would be a lot cheaper and more productive than giving trillions to the fat cats who helmed this disaster, give them a buck today and they'll be back for more tomorrow.

How much money would members of Congress, President Bush, the Administration, their families, friends and co-conspirators lose, but for the "bail out"?

Imagine the size of their investment portfolios.

The Bush family fortune would be wiped out.

The quick legislation and vote for the "bail out", shows how fast Congress can act when their purse is on the block.

There's no conflict of interest here.

Not only was Barney Frank in the middle of this mess for many years, how about the new Mass. Governor, Deval Patrick!! Does anyone realize what he'd been doind before becoming Mass.' Governor?? Right!! CEO of one of the nation's largest mortgage companies. Selling ARM's to anyone who could put an X on the line!!
Only in America!!
Ignorance & Greed!! Tsk! Tsk!

actually the section-8 scumbags that get to live across the street from me in a nice neighborhood probably aren't helping out at all.

He lost my respect when he chose Palin. He KNEW that was not putting Country First. His whole campaign is an embarrassment.
Doesn't know who he can fire...doesn't know where Spain is located and if they're an ally or adversary...stated economical fundamentals were good just days before we almost crashed...oh there is more...there is something with his campaign every day that is rediculous. Please people, do your research...let's let Obama have a chance--please!

Well put Goeast & Marla. & Please look at yet another unexplainable instance of what palin uses tax dollars for:
http ://www.factcheck.org/elections-2008/call_of_the_wild.html

And Mccain wonders why we have questions about her.
I'd bet my left paw that that's wasteful spending!

There was also a Republican controlled congress. However, once again, let's remember that, regardless of lax regulation, there is no excuse for the CEOs and executive management on Wall Street for having raped the American dream for there own personal, obscene benefit.

Being stuck with the bill, in hard earned money, is what frosts my cookies. We don't have anything to say.....We the People.....

http://www.nowallstreetbailout.com/

Oh my goodness another math deficient American.

750 Billion divided over the approximately 200 Million adult americans amounts to

$3500 per person.

I suppose it is six figures if you count the two after the decimal point. ;) But seriously, what difference would that make if no change occurs in the process?

http://www.nowallstreetbailout.com/

Most of the $612 billion spent on the Pentagon is going to come back into the U.S. Defense Industrial Complex or U.S. Military Personnel Paychecks. e.g. Strikers built in Pacific Northwest.

The $700 Billion (actually Trillion USD) would end up into the Corporate Board Members pockets. Just like the 25 Billion USD that was recently given to the Mexican/Canadian Automakers, Ford, GM, Chrysler. This is also going to keep happening every couple of years just like Ford, GM, Chrysler. "Milk" the "cash cow". Look at History.

I think they're backing down on this one...hope so.
the biggest obstacle now is house Republicans who don't want their name attached to what looks like creeping socialism, even though they know this package is necessary. they want to force democrats to vote this measure in so they can take cheap pot shots on the campaign trail. pretty gutless bunch!!

Indeed, where is the oversight? We can not effectively create solutions, or even operate banks, companies, or governments without accurate accounting.

WE ALL HAVE FAILED TO ADDRESS THE REAL PROBLEM: FRAUDULENT ACCOUNTING AT THE BANKS, THE BROKERS, AND THE US GOVERNMENT! (A.K.A. Lack of Transparency!).

BANKS AND BROKER FRAUD: $ Hundred Trillion+ dollars of Huge Off Balance Sheet Liabilities. REMEMBER WORLDCOM AND ENRON (same as hidden debts for individuals). Example:Derivitives, like Credit-Default Swaps (CDS) -- that alone are $62 Trillion, and there are many more derivative types.

US GOVERNMENT FRAUD: The US Government regularly reports its current Debt at $9.5 Trillion, when in fact the debt and guarantees is now: $60 Trillion. (Details at: Grant's Interest Rate Observer - Refer to Free Article of July 25, 2008: Bearish On The Biggest Monoline).

US TREASURY AND FED CURRENT FRAUD: pretending that a $15 Trillion dollar problem would be solved by a mere $700 Billion Bailout.

SOLUTION: Treasury and the Fed should use scientific methodology, like Six Sigma DMAIC for a solution, the same as successful Businesses do, and other US Government Agencies (CIA, Army, Navy, Air Force, etc) to:
- Define the problem.
- Measure the true extent of the problem.
- Analyze the Root Cause of the problem.
- Improve it by eliminating the Root Cause of the problem.
- Control it from happening again in the future with Statistical Process Control (SPC) methods.

Bottom Line: the government should not rush toward a false solution, but should Do Something Right For A Change by using proved scientific methods to create real solutions and resolve the current problem(s) of the day.

The last time something like that happened it was called the French Revolution aka "The Terror" which was partially sparked by the King's helping to fund the American Revolution. Irony - who knew?

Scott - Right on! We should be able to read the entire proposal and vote it as Americans. I am furious! This is not helping us it is only helping the rich, lobbyists, upper management of these firms and our politicians whose pockets are lined by these bas*ards!

I pay my bills on time. Pay my taxes. I have zero credit card debt. I didn't jump into this crazy market to buy a bigger house I couldn't afford and yet I am being punished!

I hate Washington!

You know the really sad depressing part of this whole thing is? It is the fact that you and I have no say whatsoever, in no shape or form as to what is going on in our own country. Not one word do we have, I have written, emailed, all but cried on the phone to my state Representative not to do this. Pleaded and begged like a dog in the street. All that went unanswered.

How many other people have done this, how many people will this effect in this country. I am not talking monetarily, that is a done deal so they say, not our say, but a done deal. But how exactly does this effect people and their state of mind, their ambitions, their dreams, their desires to better themselves in life, to gain a little something each year from working hard, paying your bills, trying to get by with not asking for help, not wanting to be a bother to anyone, wanting to be accountable for yourself. So many people try to do this, and after all is said and done, we are literally slapped in the face by our government and told that this is the best thing for the country.

I don't think that throwing money at anything is best for anything. I was never raised to believe that. I was raised to be responsible, to take pride in oneself, to be self-sufficient, and yet not only do I now have to look out for my self in fear of losing my job, my saving, I have lost most of my retirement already, but I now have to be responsible for someone else financially.

I just want everyone to know out there, that if you are feeling scared, bewildered, overwhelmed, exhausted, depressed about all this that has happened in the last month or so, you are not alone. I think we are actually the majority now.

God bless us. We deserve blessing for allowing our government to be able to do this.

God help us, and God bless us. Strong sentiment coming from an Atheist!

I also wrote two senators and one congressman to say NO BAIL OUT.

It isn't going to do any good. What needs to be done will have to be done in the future with voting those people out of office that caused this bail out to happen, and it will happen.

I emailed all these people and

http://www.nowallstreetbailout.com/

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And I don't want a president who puts his priorities above his contry's. You would think Obama would want to be part of the solution especially since he may be stuck with it if he becomes president. Maybe Obama's strategy, if the bailout ends up being a disaster, is he will be able to say "I wasn't there so I can be responsible"

Don't forget all those folks with mortgages that balloon or interest rates that reset should have read the paperwork before signing. Now I understand they want to make a fund with the money so the poor can own a house. What part of this aren't they getting? Putting people into homes that couldn't afford them is how we got here.

The fraudulent lending practices including inflated, unverified income and grossly exaggerated appraisals have been illegal for many years. All mortgage applications include testimonials that the information is true and accurate. The law was simply not being enforced and everyone knew it. So everyone who was inclined to broke the law and got away with it. Sort like speeding or illegal immigration. Without the failure of law enforcement this would not have happened.

And who in our government is responsible for law enforcement??

Must be the democrats, right all you republicans?