The "Bailouts Help Everyone" crowd is now going to Rape us for 1 trillion dollars.

1 trillion dollar bailout

Well No shit, the markets going up. The supply of 'goods' on the market will now shrink by 1 Trillion dollars.

Or about 3,333 dollars a person living in america.

All for what? to help the bankers of the world that created the whole mess. I'm all for nuking them at this point.

What does it really mean for the average Joe:

Higher prices on all goods (inflation)

Higher home prices (we cant let them fall in value)

Higher taxes (how else can we pay for this)

Higher gas/energy bills (oh look, oil is back up over a 100 bucks)

Plus harder to get loans/ higher interest rates. (You want to borrow money, LOL you can but it will cost you)

And thats just for this RTC crap.

So remeber, save for the future, get screwed.

Save to buy a house, and finally start to think its possible.

SORRY those inflated prices must state.

Think your fuel bill will finally go down. Good lord, your an idiot.

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meanwhile

the Freddie Mac exec has his 5 million dollar VACATION home. Which at the end of the day, is all thanks to you and me

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The irony of capitalism is that completely free markets will result in a big hangover ... and demands for regulations afterwards. Pure greed left to its own devices maybe good for some individuals but not good for the country as a whole. Plus, it's smokes and mirrors to call our corporate world capitalistic at the management level. The CEOs fill the boardroom with their buddies, reward one another and get bailouts in times of crisis in the form of golden parachutes.

Well, we have always encouraged investing over saving in this country. We spend more than we earn, we consume more than we need, as a result we became fat and poor. And stupid. And that collective stupidity has come back to bite us in the ass. We will probably get some new rules and regulations to help prevent this from happening in the future.

I'm so disgusted with this that I may end up voting Libertarian as a protest vote come November.

Hammerin' Hank Paulson just said, "Your future and your children's future depends upon our ability to make the financial system sound."

Translation: YOU are going to pay for all our worthless toxic paper that cannot be sold to anyone else because that market is dead. UFB in your face racketeering. Now they are going to try to herd all our moron congresspeople into a stampede to hand over another trillion dollars of our money before they leave office.

CALL OR WRITE YOUR SENATORS AND REPRESENTATIVE!

U.S. Senators Contact List

Find Your Representative

Hank G also said AIG was a national treasure. Whatever works I guess.

"Free Market America" Larry Krudlow was near orgasmsic last night after the announcement of this bailout idea & short selling ban. Frickin' pompous hypocritical ahole.

Dealguy123 said: ppatin said: I'm so disgusted with this that I may end up voting Libertarian as a protest vote come November.

Obama in '08! The Republican party is a disgrace. I'm voting democrat until we get a real republican back in office.

It will be the Democratic congress that passes this. I am not saying Republicans are not without their faults, but blaming them or directing your anger only at them over this is crazy.

fozzy said: It will be the Democratic congress that passes this. I am not saying Republicans are not without their faults, but blaming them or directing your anger only at them over this is crazy.

The point here, is that the Democrats have ALWAYS been for this bulls**t. However, the republican party actually used to stand for free market capitalism. I can no longer vote for a party that LIES DIRECTLY TO MY FACE and says they stand for X and they do Y. Sorry, but the republican party needs to lose (and lose big) and regroup and come back stronger. They've lost their way, and there's no reason any "conservative" should vote for them. Voting for the republican party at this stage merely encourages the same socialist BS to continue. No thanks. When you stray from the path and lose your way, you need a shock to set you straight. Winning provides no such shock.

nycll said: Hank G also said AIG was a national treasure. Whatever works I guess.With warrants for the government to own 80% of AIG, isn't it in effect, a national treasure?

michal1980 said: IMHO, anyone claming to be a conservativ]e, and is for these massive bailouts. Should have there conservative title taken away.Only social conservatives have voices now.

DavidScubadiver said: nycll said: Hank G also said AIG was a national treasure. Whatever works I guess.With warrants for the government to own 80% of AIG, isn't it in effect, a national treasure? National money pit?

ppatin said: DavidScubadiver said: nycll said: Hank G also said AIG was a national treasure. Whatever works I guess.With warrants for the government to own 80% of AIG, isn't it in effect, a national treasure?

Isn't a national treasure supposed to have value?

shhhh! don't burst the new bubble of national treasures!

Something ELSE to simmer on...

Guess how much MONEY the people in charge made while making all these Terrible decisions and SCREWING all this crap up?

We are bailing out Millionaires who were purposely ignorant in some cases.

Weeeeeeeeeeeeee!

FatFreddie said: Hank Greenburg just said, "Your future and your children's future depends upon our ability to make the financial system sound."

Translation: YOU are going to pay for all our worthless toxic paper that cannot be sold to anyone else because that market is dead. UFB in your face racketeering. Now they are going to try to herd all our moron congresspeople into a stampede to hand over another trillion dollars of our money before they leave office.

CALL OR WRITE YOUR SENATORS AND REPRESENTATIVE!

U.S. Senators Contact List

Find Your Representative

I sent the following message which is not perfectly written and has too much emotion in it. If someone wants to adjust it or provide us with a more lucid letter to write our reps, please do so!

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Hello,

As one of your constituents, I'd like to express my grave concern over the government's handling of our current financial issues. Why would we use taxpayer dollars to bail out obviously poor financial decisions made by supposed financial experts? This is a slap in the face to responsible citizens who practice sound financial management and save for the future. We need to be willing to go through economic troubles in order to purge privately made decisions.

Executives continued to receive their multi-million dollar compensation even though their institutions performed horribly. Now, I am having to pay for the mistakes of financial "experts" and those individuals who spend irrationally, even though I am innocent.

I hope that you will vote for accountability, and not burden those of us who are responsible with the negative outcomes of others' poor decisions. Please do not support bail outs like we are seeing here. You have to take downturns in stride with upturns, and sometimes these downturns will be severe.

michal1980 said: Higher home prices (we cant let them fall in value)

Plus harder to get loans/ higher interest rates. (You want to borrow money, LOL you can but it will cost you)leave it to michal to post that two competing interest will simulateneously occur. If interest rates go up, that drives home prices down as loans get more expensive. If loans are harder to get, that means fewer people can buy homes, demand falls, prices go down. But magically, you state prices will go up.

get a clue.

We don't really live in a capitalistic economy. Its capitalism for the poor/middle class & Socialism for the Rich.

"The government is likely to turn a nice profit on the AIG deal, at an 11.5% interest rate"

Yeah right, when was the last time the government made any money?

Remember Savings & Loan "The ultimate cost of the crisis is estimated to have totaled around USD$160.1 billion, about $124.6 billion of which was directly paid for by the U.S. government—that is, the U.S. taxpayer—which contributed to the large budget deficits of the early 1990s. - A similar "fund" was setup then - but its much bigger now"

http://www.gao.gov/archive/1996/ai96123.pdf

arun44445 said: We don't really live in a capitalistic economy. Its capitalism for the poor/middle class & Socialism for the Rich.
Some people like to call it trickle-down economic theory.

"Capitalism without failure is like Christianity without Hell." - Warren E. Buffett

Per Suze Orman, for what it's worth:

" King: Republicans on the Hill today are blasting the Treasury Department and Federal Reserve for orchestrating that $85 billion bailout of AIG. What do you think of that?

Orman: I think that's a great thing for them to yell about. Of course, we had to do that. What is the matter with them? Don't they understand? I get that the taxpayers are going to have to pay for it but do you have any idea -- do they have an idea -- what would have happened if that institution had gone down? That was a massive institution within 130 countries with about 113,000 employees in every aspect all over the world, so I don't know. I'm personally grateful that they bailed them out. It was a deal. The government is going to make a serious sum of money on that. The taxpayers will, in the end, make money -- 80 percent of this company for $85 billion for one of the biggest insurance company out there. Again, I have to say that was one of the best business deals I've ever seen in my life."

jayK said:

Moreover, why didn't they sell the reservation at eBay to recoup some of that deposit?I doubt there is a large buyer's market for lavish corporate retreats sold with a week's notice. The resale value of the retreat was probably far lower than the intangible benefits to the morale of AIG employees.

As a taxpayer do you think I give a crap about the morale of AIG employees? They can go put on cinderblock shoes and jump in the river for all I care.

Senior management of AIG is all toast. Federal prison within a few years, wait and see.