Gas is pretty much coming up short here in ATL; it is getting hard to find gas at most of the gas pumps that I have seen around town. It just makes me wonder, just how prepared are we for disaster? I mean, this shortage is because of two hurricanes in the gulf coast… that happened over a week ago. We aren’t talking months, just a handful of days, and we are already out of gas. That is just scary, isn’t it?
Also, our seriously fledgling economy took a MAJOR hit last week, and in a half-assed effort that one can only see as a move to save his rich friends from being held responsible, our own president is trying to shove the tab on the back of already struggling Americans. Nice. I thought that people that said they were Republican but not conservative said so because of “fiscal responsibility” and “less governmental control”? What is going on then? This plan, being put forth BY Republicans is going to cause even further fiscal irresponsibility (which these companies started in the first place) and more governmental control over our money (by making us pick up the tab)? Do you think that saving companies that prey on the American public makes any fucking sense at all? I don’t… and I’m a Democrat. The government never should have been involved in making corporations something that are an entities that exist outside of the rules and regulations of basic business; if a small business makes mistakes, it has to pay for them. However, if you are a corporation, apparently, you can just be excused of that debt, and have the government take it for you (and then quickly put it on the backs of their citizens, or you, me, and every other tax paying American). Why don’t we get a say so in this decision? Isn’t our government supposed to represent us? What do we get to do when it clearly goes against our best interests? The more I read the news, the less I feel like I live in a democratic society; the government makes decisions, and we follow along without any of our needs even being heard. It sounds more like a dictatorship to me, which again, is supposed to be the opposite of the fundamental Republican, or even the financially concerned Libertarian beliefs, right? I may be wrong, but giving 700 billion dollars to these companies to save them just seems like robbing the poor to feed the rich to me. I can bet money that the money will be used to save executive jobs, while the working class will get shit on again. Fuck yeah… I’m proud to be a (probably soon to be starving) American. We get fucked, and the rich get richer… that seems to be the new Republican way.
Sorry for the ranting, I just feel so powerless; I invest money and try to save as much as I can, and things like this come along, where the government allow these companies to take it away, even though they are the ones that made the mistakes! I don’t understand why they have more rights than I do. I don’t think it’s fair, and in fact, I don’t think it should be legal. The only hope that I am clinging to at this point, is that Obama gets elected, and can do something better. Things are only getting worse, and worse, which really does make you wonder where the bottom line actually is. How bad is it going to get?
I’m with you. Sadly, I think we may see another scare tactic from the GOP to freak out white middle-class America about the Wrath of Obama, and McCain/Palin get elected. But I’m hopeful this won’t happen.
If these problems were so obvious how come the Dems didn’t do anything about them over the last two years they have controlled congress?
Barney Frank is more the cause of this than Bush by forcing banks to make loans to unqualified applicants through his powerful position in the House.
I have mixed feelings about a government-funded bailout. But what this really represents is government creating a problem and then trying to look like heroes for bailing us out. And to think that people are wanting the same inept government to take over their healthcare.
Do you really think this is totally the fault of the Republicans? Look at the donations to political parties that come from Wall Street. Most of the top donors are Democrats.
I agree with Bugboy. I was reading an article yesterday about all of the regulations that were imposed on banks - Thank you to Barney Frank and Chris Dodd - Heads of the Congressional and Senate Banking Committies (both DEMOCRATS) that forced them to make loans to people who were unqualified. It is sick.
Also, if the government does not approve the bail out, the damage will be felt by every American. Banks loan to other banks, this will trickle down into every community in America. Small businesses will not be able to access their own lines of credit and fail… disaster. I hate it that we have come to the point where this has to happen but I am afraid we have not other choice.
I am not a fan of the Democratic or Republican party right now but I just can’t sit by and listen to the rhetoric and not say something. This is a problem for all of us and it is not solely the fault of the Republican Party.
Bugboy, this problem started way back in Reagan’s day; how are things supposed to be fixed in two years? Also, I am not saying that no democrats are to blame; I am saying that this plan, a plan put forth by Republicans, is a horrible idea. Most of my point, was highlighting how un-Republican this is. If the problem is “bailing out” the economy by wiping the slate clean for these businesses, why not help out the people that were given the loan, instead of rewarding the rich for making the loans to those who couldn’t afford them in the first place?
Ms Ellie, as I said to Bugboy above, I never said that the Republican party was solely responsible for this situation, however, the Republicans are suggesting this blank check that is supposed to fix everything; on our dime. If the problem lies in the poor planning in making loans to those that couldn’t afford them, aren’t those people (Americans) hurting by losing their homes? I’m just saying that a blank check is not the answer, and that is what the Republicans are trying to do here; it is like trying to put out a fire with gasoline. Throwing more money at the problem in the way that they are suggesting isn’t the answer; and I feel especially strong about it, since it is my money that they are talking about throwing. I agree that something needs to be done, but this bail out is not the best one, and it is the idea being put out there by republicans; hence my argument against them.
Where to begin….
I am very stressed by watching the news lately. I agree that the government should not bail out the corportations and then pass the debt on to the Americans that have been able to keep their head above water. I believe that if the big corporations are bailed out that they will not learn this valuable lesson of being more careful to who you lend money to. I don’t believe that this concept would apply on any smaller scale. Most nights I try not to watch the news because I often begin to have anxiety about where all of this money is coming from. Either America is a hell of a lot richer than they let on or are debt grows by millions and millions of dollars each day. I think I heard last night that Galveston, TX is asking for 2.3 million dollars in federal aid. Maybe the government is like my mom and claims to be broke, but really they have money and live a penny pinching life style until the shit hits the fan? I don’t know the more I type the more confused I become. I do know this I have this growing pit in my stomach that tells me the americans who have managed to hold onto their homes and make their mortgages are going to be paying more taxes at the state and federal level. Wonder what would happen if we (every last citizen) went bankrupt would the government still expect us to pay taxes? Maybe I could organize something like that? (Sarcasm).
Missy, the scary part is, that they really don’t have the money; but the people (notice I said people, not democrat or republican) that work for the government (especially the upper echelons) DO. They are filthy rich, and they are making decisions that make them richer; and this bail out is one of them. The more I see, the less I believe that anyone other than the elite are even considered, and that is very, very scary indeed.
The mortgage market in the US in unbelievable for me as European. In fact, the whole mass lending spirit of the US is unbelievable for me.
The big banks, mostly the ones in the US, have built their whole business based on pillars which appear to be very weak.
Regarding the bail out of the banks by the government, I guess there was no other choice really. I think it would be better if banks would pay for the giant risks they took (like Lehman did), but do not underestimate the total chaos that would result if other corporations like Freddy, Fanny and AIG would also have fallen down.
So it has been a choice between two bad things, and I think the least worse was chosen.
The bailout you speak of sounds a lot like what the Dems are proposing as well. I’m very skeptical of any bailout. It seems too convenient.
Funny how the problem was under control until Dodd and Frank came to power. If you look at what the Dems are proposing now, it certainly is in line with what is being said about their involvement in the cause–giveaways to unqualified buyers.