It’s a ponzi scheme- just like Social Security.
One thing I’ll agree with Barr on- we need to know WTH is going on behind closed doors this weekend and what they’re putting in this bailout legislation.
Newt had the best solution yesterday.. put these businesses and the outstanding loans up on the auction block and let other banks buy them up piece by piece. With the 5% of bad loans, there are 95% of good, paying loans. If we would quit looking at these entities as something that must stay together and just let the market buy them piece by piece, all the loans stay solvent, and IF something has to take place, it only has to take place on the 5% or so of the companies that have bad debt, not the whole thing..
YES! I can guarantee that this legislation is going to be filled with carp that is going to make the situation worst!! And the Republicans are going to be too scared to stand in the way of the Democrats from fear of being perceived as blocking legislation that is needed for the economy to survive..... Sheesh, what a bad situation we're in....
“we need to know WTH is going on behind closed doors this weekend and what they’re putting in this bailout legislation.”
I wonder if we will know before the measure is agreed to...or after?
My bet is on ‘after’. We should be watching for the dem measures to include kickbacks for ACORN,FM/FM,banks/mortgage companies that have democrat coffer ties, and a ‘stimulus’ for the unqualfied buyers that the dems used to amass power and money.
This stuff makes Enron look like small potatoes...(eye roll)