Don't panic. Don't give advice from panic.
1) They aren’t going to address the liquidity crisis at all, unless they’re retroactive, in which case they’re just a bailout by another name.
2) They can’t pass in the next few days.
Let’s just be clear - the most odious provisions have been stripped. This bill is desperately needed. Anyone willing to simply take the hit “out of principle” is a complete and utter moron.
Failing to do this means a certain recession, an Obama Presidency, and quite possibly a global depression since I really doubt if Obama or his team have the stuff to manage this crisis.
Doing this probably means, over the next five to ten years, a multi-trillion profit for the Federal Government.
This bill is still not great, but probably needed to calm the markets.
Thanks to McCain and the House Republicans for stopping the Pelosi/Reid/Frank fiasco last Thursday.
We got to this this thing signed and move on.
As soon as it’s passed, McCain and the republicans have got to let the Americans know the DEMS were really to blame for this mess.
Flush it now or flush it later at ten times the cost.
I don’t know why Bush didn’t appoint a Blue Ribbon panel of economists and others (Forbes) to carry out this proposal in public rather than allow those who already benefited from Fannie and Freddie try to fix it in secret BEHIND CLOSED DOORS and without equal representation.
And you think this would be a good thing...
Don't panic. Don't give advice from panic.
but at least we will still have our principles... haha...
And how exactly are we the taxpayers going to profit from this scheme?
We’re not.
Instead of stockholders who see dividends from successful business ventures (which is essentially what taxpayers are in this whole fiasco) we’re basically going to get screwed no matter how this thing plays out.
Even if the federal government profits from this the surplus generated would be blown on wasteful projects like socialized health care.
Thinking that the population in general is actually going to benefit from this pork laden $700,000,000,000 addition to the national debt is naive at best.
I doubt that very much!!!
The reason we are in this mess in the first place is because of excessive governmental regulations, stupid sub-prime mortgage laws the democRAT led Congress mandated that banks were required to adhere to, and cozy relations between Freddie Mac, Fannie Mae & the democRATs. So now after the government (especially the democRATs) have screwed it up in the first place, we are supposed to trust that the government and the same democRATs who screwed it up, will the discipline & wisdom to fix this and even turn a multi-trillion dollar profit in the next 5-10 years? If so, it would be a first for any federal program. I wouldn't trust the democRATS to legistate or correct their way of a wet paper bag. Government doesn't make or produce anything....they spend taxpayer dollars and that's it.
I have more faith in Free Market System to correct itself than I do ANY government action. This is bailout for monumental democRAT mismanagement & culpability in creating this fiasco. I don't want to let them off the hook for this at all!
NO BAILOUT!!! In fact I wanna revoke the Fannie Mae, Freddie Mac & AIG bailout of $285 billion....there is no money... it doesn't exist. The government will just print up another $285 Billion and devalue our own dollar even more. This was Barney Frank's baby and he "Promised" that it would never be a liability for the taxpayer.... Yah, right!