SW03ES Posted October 2, 2008 Posted October 2, 2008 Article: http://www.comcast.net/articles/news-finan...ncial.Meltdown/ Well...help is on the way. The senate sweetened the bailout bill to include extensions of tax breaks for small businesses, a restructuring of the AMT (I like that...), increasing the FDIC limit from $100,000 to $250,000 and extending aid to the gulf areas pounded by hurricanes. This new bill is going to cost the taxpayers a lot more, the tax breaks will grow the defecit, but its better than nothing...
lenore Posted October 2, 2008 Posted October 2, 2008 Yep, the good old boys bailed out their friends that they click heels with. how sad that they are on the take for their votes. Must be a sweet life sucking the taxpayer dry and making sure your contributors get to keep their yatches and million dollar homes. All for greed. They have not learned yet.
jcrome04 Posted October 2, 2008 Posted October 2, 2008 What do you think would happen if NOTHING was done?
LEXIRX330 Posted October 2, 2008 Posted October 2, 2008 What do you think would happen if NOTHING was done? Something did have to be done. But we started to see what would happen, companies that made stupid mistakes would go bankrupt or be bought out for pennies on the dollar. It is what should happen. The loan to AIG was a mistake and the company should have been gobbled up like Countrywide, Lehman, WAMU and such. The government should not pick and choose who to loan money to, who to save and who to let fold or be bought out. This whole thing is screwed up. The fact is credit worthy borrowers are starting to have trouble getting financing...banks are not loaning to other banks because no one know what is going to happen. People are scared and with the election coming up the media is making everything 100% worse. There are business owners on news programs left and right talking about their lines of credit being reduced. Bailout...we will see what happens. I have lost some money in my retirement accounts, and in stocks and I was sure way wrong about countrywide when I bought that...but I think the market overall will turn around in time.
SW03ES Posted October 3, 2008 Author Posted October 3, 2008 Yep, the good old boys bailed out their friends that they click heels with. how sad that they are on the take for their votes. Must be a sweet life sucking the taxpayer dry and making sure your contributors get to keep their yatches and million dollar homes. All for greed. They have not learned yet. What Wall Street CEOs and fat cats is this bill going to help out? Have you read the bill? I know you have not because the bill specifically addresses what is to become of CEOs and corporate board members when a company participates in the TARP. Do you know that TARP stands for? This is a bailout ORDINARY Americans that depend on these companies for their businesses to make payroll, americans who'se retirement is almost gone. The guy with the yacht made 50 million last year. He'll be fine whether the bailout passes or not. Ignorance is a dangerous thing. The market will turn around, but without something being done to free up the credit market this economy is going to see a very long and deep recession in which very little credit is available to individuals and businesses. We'll see many small businesses close, a lot of layoffs. Double digit unemployment rates. It would be ugly.
lenore Posted October 3, 2008 Posted October 3, 2008 This bill is full of pork barrel spending and a great deal of it is heading to china to fix their pockets.....That is just the same...spend spend spend....all for their private pet projects. that just makes me sick...
lenore Posted October 3, 2008 Posted October 3, 2008 Some of the pork barrel spending: money for makers of wooden arrows manufacturor money for emmisions control in China Does this sound like a bailout for what the Walstreet folks want No it is a buy out for votes to get the bill passed. Same old boys doing the same old tactics on the taxpayers money....
SW03ES Posted October 4, 2008 Author Posted October 4, 2008 The pork is a very unfortunate thing, but its worth it to get the bailout bill passed which is neccisary for Americans to continue doing business. What I find abhorrent, and its why I left the Republican party, is the republicans in the house voted AGAINST the clean bailout bill Monday. Then the Senate loaded it up with crap...THEN they voted FOR it. Makes no sense. We'd all have been better off if they had just passed the original bill.
lenore Posted October 4, 2008 Posted October 4, 2008 the original bill had no limits or controls...it was all show, they got what they wanted, regardless of what Americans wanted.
SW03ES Posted October 4, 2008 Author Posted October 4, 2008 Again....Lenore....thats not true! The original bill from Bush had no controls, the bill the house voted down had all the controls and oversight the bill that passed Friday has. The senate and house leadership added that oversight in their meetings last weekend. The only difference between this bill that passed and the one that did not pass on Monday was the pork! You've got to read up on this a little more. As for what Americans wanted...this is a situation where Americans don't understand enough to know what needs to be done, like you they have bad information and choose to act on that information.
nc211 Posted October 6, 2008 Posted October 6, 2008 Speaking of pork, I LOVE the little kicker in the new plan about the production of wooden arrows for children! What in the flippin' hell is that about? Why would the production of wooden arrows be allowed anyway, when lawn-darts were banned years ago! I've gotta' tell ya', these politicians never stop.. Just unbelievable. I was on a flight back to Raleigh Friday evening. Sitting in front of me was a congressional representative for our area, David Price. Behind him "and next to me on the isle seat" was one of his little buddies. He had me pinned against the window, with his pork-chop legs and fat-!Removed!. All yappin' on his blackberry, being mr. important. Twice, I shoved him back over the center armrest "which I insisted be used" because he was leaning over too far. By the end of that flight, that little George Castanza look-a-like, was two seconds away from me taking that blackberry and beating him in the face with it. Here's a lesson kids: If you become a failure in life, fail at business, fail at relationships, fail at playing by the rules of the law...don't worry.....just become a politician!
dcfish Posted October 8, 2008 Posted October 8, 2008 http://primebuzz.kcstar.com/?q=node/14879 Wonderful :chairshot: :chairshot: :chairshot:
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