Posted on 09/30/2008 6:53:14 PM PDT by maccaca
MUST SEE VIDEO:
Everyone should watch this video.
http://www.cnbc.com/id/15840232?video=873682522&play=1
It will give you the truth about some of what is really in this bill. For instance that Paulson insisted on being able to buy foreign debt by channeling it through a US subsidiary. And that the oversight board has no power.
But you will be surprised by the party affiliation of those speaking. Something is backwards here.
http://www.cnbc.com/id/15840232?video=873682522&play=1
And money will flow into the market like manna from heaven.
Are you sure about that? What about the stock investors who have long-term investments with next to nothing for the cost basis? Doesn't this just give them an out to sell the stocks and remove the funds from the stock market?
No. This is a futile effort, a "sop" to gullible people who think Congress is capable of "working for a free people." Congress's job is to facilitate public indebtedness, so as to obtain a dependent public.
OH...By this bill... I mean the original bail-out bill.
It’s not a bailout silly, it’s a “rescue.” @@
The Senate Bill calls for
- The Senate plan would also raise federal deposit insurance limits to $250,000 from $100,000,
- tax legislation — including a set of popular business tax breaks
- adding legislation to prevent more than 20 million middle-class taxpayers from feeling the bite of the alternative minimum tax
- It included AMT relief, $8 billion in tax relief for those hit by natural disasters in the Midwest, Texas and Louisiana, and some $78 billion in renewable energy incentives and extensions of expiring tax breaks. In a compromise worked out with Republicans, the bill does not pay for the AMT and disaster provisions but does have revenue offsets for part of the energy and extension measures.
why would you invest your profits in distressed debt?
Replace your word 'remove' with 'reallocate' and there you have the genius of the plan. The market, when unfettered by regulation, ALWAYS allocates resources where most needed.
"Revenue offsets" is doubletalk for "taxes."
Certainly worth voting for, as opposed to the lipsticked pig on Monday.
Bet this is why the Senate is rushing to pass a revised version of the “Bailout Bill”.
I’m all for prosecuting corrupt book cooking CEOs and execs, though. Along with bribe taking congressmen.
Bet this is why the Senate is rushing to pass a revised version of the “Bailout Bill”.
Not sure about that. If there is a cut in taxes, revenue growth would pay for that.
- adding legislation to prevent more than 20 million middle-class taxpayers from feeling the bite of the alternative minimum tax
I like it!!
Who is proposing this alternative plan in the House?
Looks like the Senate is going to push through their own version tomorrow. Probably more in line with the Paulson proposal. Another massive government intervention.
Like spending $700 billion on a bailout KEEPS money in the Treasury.
Then let it. Congress should stay out of it.
Yeah, you can tell some smart people have been working on this.
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