Barack Obama lambasts government over economic bailout

Barack Obama lambasts government for economic bailout

we should be rioting in the streets that this money is being essentially stolen from the American economy by bank and government who are threatening a collapse of the entire system if we don’t do as they say. If they, the banks are so big that their collapse can bring down the US and world economies they are too big to exist and government should insist that they break up into smaller companies.

As a responsible citizen with no debt because I have lived with in my means, saving to buy a house for over a decade, /I think it is insane to be asked to bail out wealthy banks.

If this must happen it should be finances with a 10% tax on tax payers with incomes of $500,000 or more a year. We need money for schools and health care and care for the environment. The risk of environmental collapse, a much much bigger risk is already costing us millions in world with hurricanes and other ecological disasters. If we had spent or even now spent this money on alternative energy technologies we could limit the environmental collapse we are facing.

concerned citizen

the way i see it

as an american living in the philippines i am willing to be taxed to bail out these companies as the problems that will occur if they are not bailed out will only make our economy much worse as well as effect the global economy. even though the american’s that bought houses they couldn’t afford are to blame for doing so i place most of the blame on the real estate agents who would convince buyers to buy now as prices will continue to rise, by saying you can take out a home equity loan in 4 months as the house will have several thousand dollars of equity and knowing if their income wasn’t enough for the loan they will find a lender to help you get in the home. these lenders allowed liar loans so you could make your income whatever was needed to qualify. if that din’t get you in the house the lenders came up with interest only loans and then arms with the interest low but would adjust in a couple of years but within that time you could refinance you were told by the lenders. people were buying more than one house with the plan of selling at a huge profit. people bought houses in relatives names or friends name. friends bought houses together. you name it and it was done. americans got crazy with greed but none of this would have happened if the lenders didn’t allow it. we now have 10 million people in houses and growing whos home has depreciated 40 to 50 percent and many are walking away from their homes. leaving the keys in the mailbox. they are back to renting an apartment or house and of course many have lost their job due to outsourceing.all of this mess is left for us americans who dosn’t understand how are economy works but depends on our leaders. i do believe however that if obama is elected that things will be better at the end of his 4 years in office.

HINDSIGHT

Froth and Facades; no firm foundations, underpinned Wall Street for so long that everyone in the know knew this was coming - so where was the ethical leadership from those responsible, highly educated captains of our society? Who held onto the moral compass or was it just left slopping around on the bottom of the pig trough during this undignified orgy of greed? Strict regulatory oversight and criminal penalties should now be on the road directly ahead. Shame, selfish shame....and it’s the poor people are going to carry the burden of suffering.

Hoopy de daw!

Everyone is throwing blame at everyone else rather than looking where the real blame lies.
I did not see any American taxpayers complaining when house prices were rising. They all jumped on the bandwagon the same as Wall Street. I did not see any politicians such as “Obama the Stooge” warning of imminent danger from a financial meltdown.
Americans have lived on foreign credit for the past 30 years. When they were up to their necks in debt, they blamed it on the Japanese. Now it is the chinese or other foreigners Give me a break from this nonsense. If it was not for foreign investors, the US economy would have sunk years ago.
Americans just don’t get it. You live beyond your means you pay for it. Real estate agents, mortgage lenders and the rest of the crowd did what crowding think always does. They jumped on the bandwagon and thought the party would never end, particularly those in California.
Well the party is over and its pay back time.

Thats the first time i agree. Actor President. What a load of balls. Meantime thanks for the bailout. Nice to know YOU have plenty of money. Colecting my bonus this week. Loads a Money.

A Nation of Masochists

"I send my tormentor hurrying hither and thither in the service of my suffering and desire."
-Mason Cooley (d.2002)

I have concluded that Americans, who pretend in public to be straightlaced, are in fact rabid masochists addicted to whips, black leather and the application of fists. It turns out that large numbers of people throughout the world are accidentally asphyxiated every year because they need to be chocked for maximum pleasure.

The diagnosis of national masochism is the only thing that can satisfactorily explain the poll numbers in the presidential race.

Let�s get this straight.

The Republican Party came to Washington, DC, in 2000 with a solid majority in both houses of Congress and on the Supreme Court, allowing them to steal the presidency, as well. If you wanted to know what a pure Republican-Party government unhindered by the Democrats, Libertarians, Greens or Socialists might look like, this was the moment.

So they came to power when there was a budget surplus bequeathed by a Democratic president.

They immediately ran up a big deficit every year since, doubling the national debt from $5 trillion to $10 trillion. You don�t run big deficits of $300 and $400 billion a year in good times according to Keynes. You save the the deficit spending for a recession, when the economy needs a jolt. If you�re already racking up a big deficit every year in a good economy, you have no way of making a difference during a significant downturn except by then going for a truly mega-deficit, which risks destroying the value of your currency abroad. In a service economy like that of the US, a dollar with a declining value might not even help the economy via exports very much, since the manufactured goods are being made down in Mexico now, anyway.

Note that Clinton had been talking about using the surplus to pay down the debt or to fix the looming crisis in social security.

With the government encumbered with $5 trillion in new debt before September, and now with another trillion and a half (probably when it is all said and done with), how exactly will social security be fixed?

(Hint: Republican leaders such as Ronald Reagan and Newt Gingrich hated social security, because the people are grateful to the Democrats for it. Bush tried to privatize it and McCain would have helped him; you wonder if they are trying deliberately to destroy it. Social security is the main reason for which the elderly are not now, as they were in the 1930s, the poorest and most miserable section of society.)

Then many the Republicans came to Washington with a crooked plan to use fraudulent methods to ensure that campaign financing went almost exclusively to them through super-lobbyists like Jack Abramoff. Grover Norquist�s K-Street Project aimed at guaranteeing big corporate dollars for the Republicans in exchange for their granting the corporations the right to write the legislation affecting their industry. Thus, laws governing pharmaceuticals were written by the pharmaceutical industry lobbyists and just signed off on by the Republicans.

This scam goes beyond Marxâ��s fear that government in a business society was just a “managing committee” for the business classes. Tom Delay, from 2002 the Republican Party majority leader in the House, was too lazy even to be the managing committee! The K-Street crowd just let the business classes run the legislature directly, themselves, having the regulatory laws written to suit them.

So Abramoff, Delay, the K-Street crowd are busted. Once upon a time such a thing would have been a huge political scandal and would have haunted the party that produced it. But because US Big Media is mostly Republican-owned, it just quietly subsided as a story.

It is not just that the rap sheet against the Class of 2000, 2002, and 2004 among the Republican politicians is longer than a trans-Atlantic cable, it is that so much of the corruption took the form of a conspiracy.

All parties have people in them looking to get rich on the side. But the K Street Project and various other such scams weren�t just about individual aggrandizement. They were about fixing the whole American system permanently to kow-tow to the super-rich without so much as a whimper, and to positively punish the middle classes.

After the 2002 mid-terms, even George W. Bush wanted to do a tax cut for the middle classes. But Cheney over-ruled him, insisting on another deep tax cut for the very wealthy. We won the mid-terms, Cheney said. This is our due. Deficits donâ��t matter. “Our” due? Cheney is saying that the Republican Party is the party of the super-rich, of the 3 million at the top of American society who own 45% of the privately held wealth (as though we were Brazil), and they are the ones that will be exclusively benefited by Republican rule.

Of course, there were many other conspiracies by the pirouetting pirates of plunder.

There was the Iraq War, one of the great criminal conspiracies of modern times. Barton Gellman has how related the story of how Dick Cheney lied to Dick Armey before the vote on the war, telling him that Saddam�s family was all al-Qaeda and that Saddam�s evil scientists had made a suitcase nuclear bomb that he would certainly turn over to Bin Laden, and such rank horse manure as that. Dick Armey weeps, says he deserved better than to be bullshitted by the vice president of the United States.

They took us to war against a country that had not attacked the United States; they killed or maimed 33,000 Americans, and turned a whole Arab Muslim country into a burned-out hulk, displacing millions and continuously bombing the very cities that they had conquered and occupied, killing and disfiguring.

They propagandized us with implausible lies about mobile biological weapons labs and Baathist al-Qaeda, and our journalists and their corporate bosses bought them hook line and sinker, as did the public.

Cable and satellite television “news” tells us nothing of elections in India or constitutional crisis in Thailand, and barely mentions a major workers strike at Boeing. Dozens of car bombs go off in Iraq and we are told it is “calm” now. It is a vast electromagnetic form of bread and circuses, wherein hapless celebrities and philandering politicians are fed to the lions before millions of cheering plebes, by corporate moguls desperately hoping that the marks will not notice the legion of pickpockets in the arena, relieving them of their purses.

This crew in Washington thought nothing of assiduously attempting to induce the press to out a covert CIA operative working against Iranian nuclear proliferation, Valerie Plame. Their culture of lies is such that they attempt to divert attention from all the phone calls to journalists by Irv Lewis Libby and Karl Rove trying to get the press to print her name by saying that those two did not succeed. As if the attempt were not dastardly!

Why is trying to inform the Iranians of the identity of a CIA field officer assigned to spy on Iran not an act of treason? After all, you can�t inform the world without also informing the Iranians. Isn�t the punishment for treason hanging?

The Republican Party conducted a vast illegal spying operation on Americans and on foreign diplomats. We still don�t know why exactly, and that the operation had domestic political motivations cannot be ruled out.

They imposed on us this so-called PATRIOT act that gutted the Constitution. The peaceful protesters in St. Paul at the RNC were actually charged with being terrorists, in this Brave New World.

By their incompetence and cupidity the Republican politicians deeply damaged the relief effort for one of America�s great cities, New Orleans, which will never see the $33 billion pledged for its reconstruction. Not to mention that levies and bridges are breaking and falling down all around us because Cheney did not want to tax his billionaire friends to pay for the country�s infrastructural upkeep.

And then they so radically deregulated and removed any oversight from the banking system that they came within hours of presiding over a 1929-style absolute meltdown of the entire financial and securities system. To cover the criminal activities of their cronies, they are now proposing to impose a fine of one trillion dollars on the middle class, to ensure that their partners in crime will receive their $25 million Christmas bonuses and be held harmless for their misdeeds.

And in the wake of the greatest and most sustained act of systematic plunder since the Mongol hordes appropriated to themselves the riches of everyplace in Asia from Beijing to Isfahan, the reaction of the supine and slave-like American voting public is to scratch their heads and have a hard time deciding if they would like more of the same.

Despite his aristocratic prerogatives and connections in high society, even the Marquis de Sade himself was brought down by a lowly maid, who complained to the police of his cutting her while having his way with her, leading to his arrest.

In contrast to that plucky domestic servant, the American public appears to enjoy being lacerated while being badly used, moaning with delight at each new act of abuse and abasement, while, blue-lipped, gasping for air.

One worries for our children, threatened with the fate of the homeless street children so common in the sort of third world country into which we are being turned by our managing committee.

But, well, if you are determined to bend over on November 4, at least I hope you enjoy pain. In that case, you are going to be ecstatic.

http://juancole.com/

Demand Investigation and Reparations

Benjamin Franklin wrote: �The refusal of King George III to allow the Colonies to operate an honest money system, which freed the ordinary man from the clutches of the money manipulators, was probably the prime cause of the Revolution.� (DEMAND AN INVESTIGATION NOW http://www.fedreform.com)

Spend the money on people

If the Democrats were smart they would let the economy crash, then when they got into office, instead of giving the money to the people who contributed to getting us in this mess and who don’t desire a penny more, do as Franklin did after the great crash, use the money to putting people to work solving to problems of this country.

Rewarding bad behavior

By bailing out the banks we are rewarding them for their poor leadership, mis-management and greed. We are setting a standard and letting them know, “Don’t worry, it is not your fault,Big Daddy Warbucks will always be there to bail you out of trouble”

All Responsible Parties Should Bear Burden

I am tired of hearing statements like the following:
“even though the Americanâ��s that bought houses they couldnâ��t afford are to blame”.

You can say the same for the greedy corporations, they are to blame for their own problems. If they weren’t so greedy maybe so many bad mortgages would not have been sold and they would not be strapped with so much bad debt. I guess we are learning about trickle up economics.

Also over the years other areas of the economy were deregulated and we had problems with bad commercial loans and third world debt. The dot bomb problems, WorldCom, the airlines, etc. Corporations are very happy taking taxpayer money to create the problem and then to fix it.

Corporations cry for deregulation and when they get it they screw up and cry to the government to bail them out. The government then takes money from the taxpayers who were screwed by the corporations to fix their problems but not the taxpayer’s problems. Its time corporations took responsibility for their screw-ups. The industry should pay back the government with interest for any bail-out. The corporations got what they wanted just like the people who could not afford the homes they purchased.

Paying for healthcare

Lets make no mistake about this bailout, the American public is about to become the owner of a huge amount of property. Let the government convert these assetts into a financial engine for supporting a health care system.

Why not me too

I am 64 and was put out of my job of 32 years at age 60 when my job went to China. Well here I am with my tiny 401k just sinking faster than the Titanic. I tried to start a small business, cause who would hire a 60 year old, to somehow get through till I could collect SS. Now because of Bush’s War and his parties deregulation the economy has tanked and I am left at 64 with zip in my pocket and $60,000 debt. Where do I sign up for this bailout? I haven’t just lost my bonus check I have lost everything.

What goes around, comes around

Arrogant, selfish and pompous.... I guess all that will come to an end now for Americans ...

Even Americans abroad are starting to hold their head in shame....

Serves you right for letting your politicians sway you with the glitz and glamor of the electronic media....

Maybe Americans should get off their bums and take a look at themselves and the world, (some may even be saved from obesity by sheer movement), and see how the thought of power and your own indestuctability was just smoke and mirrors.

The world looks to you Americans for a lot, so now is the time to act on your problems in a sensible matter and show us how it is done.

I just hope that you dont let all that money being forcefully taken from your pockets and your childrens future be spent on further corporate wastage.

Funny thing though... when a home owner is in financial difficulty its “tough luck”... but when the lender has problems.... “here is 700 million” !!!

What goes around, comes around

Arrogant, selfish and pompous.... I guess all that will come to an end now for Americans ...

Even Americans abroad are starting to hold their head in shame....

Serves you right for letting your politicians sway you with the glitz and glamor of the electronic media....

Maybe Americans should get off their bums and take a look at themselves and the world, (some may even be saved from obesity by sheer movement), and see how the thought of power and your own indestuctability was just smoke and mirrors.

The world looks to you Americans for a lot, so now is the time to act on your problems in a sensible matter and show us how it is done.

I just hope that you dont let all that money being forcefully taken from your pockets and your childrens future be spent on further corporate wastage.

Funny thing though... when a home owner is in financial difficulty its “tough luck”... but when the lender has problems.... “here is 700 million” !!!

bailout

Anonymous 9-21-08 08:51 saved me the time of putting my thoughts on paper. I agree with every word he/she wrote. I am a social liberal/ fiscal conservative who considers myself able to see gray area. To socialize (nationalize) the financial services industry and take only the bad debt (bad business) but leave the good business with the management and stock holders of the companys is outrageous. If we the people have an extra $700 billion why not open our own loan company that lends money to borrowers who qualify based on their ability to pay back the loan?

WTF?

You guys sound like escapees from the loon bin. Bailout, Schmailout! Just get it done. I gotta get back tom my day trading. Market’s been open half an hour already!

Yet another witch hunt.

1. Not as taxpayers, but as citizens would we have all paid for this, no matter what.
2. It’s self-delusion to think that “Wall St” and “Bankers” are bullying us into doing this, as if there are alternatives. There aren’t any, except possibly slipping into an economic depression far greater than any our parents or grandparents ever felt. If you don’t like the benefits that “Wall St” and “Bankers” bring to all of our lives, shun modern conveniences and live in a cabin in the woods. We all have a stake in what is happening. If you have money in your wallet, if you even have a wallet, you should be concerned. So tuck away your self-righteous indignation and empty rhetoric, roll up your sleeves and let’s get to work.
3. In some instances, money is being printed to facilitate bailouts. It’s not coming from taxpayers. Know what’s going on.
4. Shame on politicians for over-simplifying this situation for their own political interests. It doesn’t help the situation by misguiding numerous zealots and idealogues with populist rhetoric and opinion thinly veiled as “truth." This campaign is no different than any other. “You can put lipstick on a pig..." the saying is equally appropriate for this campaign: “You can preach a politics of 'change' but it’s still politics."
5.Be aware before you randomly strike a match to burn the newest witch. Usually the “witch” is a distraction from the real culprit: oneself and one’s misguided beliefs.

reward the cheats!!!!!!!

What amount bonus should they get this year

Obama Endorses Homelessness For ALL

By the sounds of it Obama has no clue. There is a surprise for an elitist such as him. The credit crunch and all of this came about from investors, those with good incomes betting that the average american. Low income, poor education and no financial planning skills would appreciate having a house and would try to make the mortgage payments. Unfortunately because the average american can’t save, thousands defaulted on their payments and the credit crunch occured. By buying out these companies the government is trying to keep people in their homes and of the streets. But hey Mr. Obama lets not do it lets make more Americans homeless. If low income America got off their lazy asses and worked we wouldn’t have had this huge crash. This move is bailing out the poor not the rich. Look at Canada, are they suffering in the same way. No because most of them save and work and go to school. An example could be garnered here.
Jim
Whitefish Montana

Obama Endorses Homelessness For ALL

By the sounds of it Obama has no clue. There is a surprise for an elitist such as him. The credit crunch and all of this came about from investors, those with good incomes betting that the average american. Low income, poor education and no financial planning skills would appreciate having a house and would try to make the mortgage payments. Unfortunately because the average american can’t save, thousands defaulted on their payments and the credit crunch occured. By buying out these companies the government is trying to keep people in their homes and of the streets. But hey Mr. Obama lets not do it lets make more Americans homeless. If low income America got off their lazy asses and worked we wouldn’t have had this huge crash. This move is bailing out the poor not the rich. Look at Canada, are they suffering in the same way. No because most of them save and work and go to school. An example could be garnered here.
Jim
Whitefish Montana

by the way...................................................

why can’t i print money when i can’t pay for food...................

Obama Endorses Homelessness For ALL

By the sounds of it Obama has no clue. There is a surprise for an elitist such as him. The credit crunch and all of this came about from investors, those with good incomes betting that the average american. Low income, poor education and no financial planning skills would appreciate having a house and would try to make the mortgage payments. Unfortunately because the average american can’t save, thousands defaulted on their payments and the credit crunch occured. By buying out these companies the government is trying to keep people in their homes and of the streets. But hey Mr. Obama lets not do it lets make more Americans homeless. If low income America got off their lazy asses and worked we wouldn’t have had this huge crash. This move is bailing out the poor not the rich. Look at Canada, are they suffering in the same way. No because most of them save and work and go to school. An example could be garnered here.
Jim
Whitefish Montana

Obama pushes for more homeless

By the sounds of it Obama has no clue. There is a surprise for an elitist such as him. The credit crunch and all of this came about from investors, those with good incomes betting that the average american. Low income, poor education and no financial planning skills would appreciate having a house and would try to make the mortgage payments. Unfortunately because the average american can’t save, thousands defaulted on their payments and the credit crunch occured. By buying out these companies the government is trying to keep people in their homes and of the streets. But hey Mr. Obama lets not do it lets make more Americans homeless. If low income America got off their lazy asses and worked we wouldn’t have had this huge crash. This move is bailing out the poor not the rich. Look at Canada, are they suffering in the same way. No because most of them save and work and go to school. An example could be garnered here.

AL

Barack Obama needs Alabama, people.

Why oh why oh why...

do I read the comments? Ugh. Give a monkey a microphone....

CyberHippie, I thought hippies were grounded, earthy folk. Your head is so far in the clouds (or deep in another, less airy space) that I wonder how you can breath? Simply, if America’s power is smoke and mirrors, why have our economic problems caused an enormous ripple effect throughout the world’s economies? Why do we need to be aware of our actions in other parts of the world, if our power of influence is merely illusion? The classic argument that we are arrogant, i.e. that we boast to more than we have, doesn’t say anything against the fact that we do have a strong presence and influence upon the rest of the world.
I promise to no longer read these comments if you promise to no longer make comments before thinking. Drats. I guess I don’t have to worry about breaking my end of the deal.

$700,000,000,000.00

and the market is still down today

oh happy day.................

if you can’t short.......things can only go up...........wake up america

Everyone's an expert in economics on the internet

Many of you should be ashamed for flapping your gums about something you understand nothing about- Senators Obama and McCain included.

Regardless of the reason for the crisis, we’re now in a crisis. NOT bailing out our countries financial institutions would result in an overwhelmingly worse situation. Most of you really have no idea what the impact the loss of our nations hugest banks would be like, do you? Their size, their “greed” is what allows you to buy homes, cars, and groceries in the first place.

Huge mistakes were made which led to this crisis, but it was not the mistakes of one or even a dozen CEOs alone- Anyone who pays taxes and owns a credit card is involved as well- we ALL share part of the blame. Do I like the pricetag on the bailout? No- but that’s beside the point now. Are banks being rewarded by bad behavior? Jesus christ, no- do you honestly think they’ll be better off after the bailout than they were before the crisis? No, they’ll simply be able to survive and hopefully recover enough to continue allowing us to lead the modern lives we’re accustomed to.

If you don’t know where to point your finger, keep it up your nose.

Everyone's an expert in economics on the internet

Many of you should be ashamed for flapping your gums about something you understand nothing about- Senators Obama and McCain included.

Regardless of the reason for the crisis, we’re now in a crisis. NOT bailing out our countries financial institutions would result in an overwhelmingly worse situation. Most of you really have no idea what the impact the loss of our nations hugest banks would be like, do you? Their size, their “greed” is what allows you to buy homes, cars, and groceries in the first place.

Huge mistakes were made which led to this crisis, but it was not the mistakes of one or even a dozen CEOs alone- Anyone who pays taxes and owns a credit card is involved as well- we ALL share part of the blame. Do I like the pricetag on the bailout? No- but that’s beside the point now. Are banks being rewarded by bad behavior? Jesus christ, no- do you honestly think they’ll be better off after the bailout than they were before the crisis? No, they’ll simply be able to survive and hopefully recover enough to continue allowing us to lead the modern lives we’re accustomed to.

If you don’t know where to point your finger, keep it up your nose.

Mortgage problem is not just ARMS

It’s not just ARMS that are the problem, there are many, many elderly that are losing their homes.
Money is not worth as much. It’s inflation (the Austrian definition) that’s caused much of the problem.
Devaluation of the dollar.
A person buys a house 10 years ago on 20.00/hr, now, 20.00/hr won’t cut it.
Don’t listen to the media crap that it’s people getting into homes they could not afford. Many of them could afford it when they took out loan, but not now.
Have you not felt the financial stress, especially in the past 5 years yourselves?
(AND NO, I’M NOT IN FORCLOSURE).
I know people who are struggling, and they have worked hard all their lives.
And Yes, they did allow the (kids shows) TV to convince their kids they they just had to have a cell phone. And they had to have that new tv, and etc.............took out equity loans on their property, etc.....yep, they fell for it, so let 'em burn eh? Let’em burn for being convinced/(dupped into thinking) that that was the way to the American Dream.
It is the responsibility (IMHO) for the more intellectually gifted to abhor taking advantange of the poor and the less gifted. It’s like a man with a gun taking advantage of the unarmed.
I disagree with the idea that the average citizen likes what is being done to them, they just don’t see any alternative but to cast their lowly vote for the one that they think will hurt them the least.
Yes, there are those that are doing better that have their dog in the fight, but they are not the average, lower middle class and poor.

Mortgage problem is not just ARMS

It’s not just ARMS that are the problem, there are many, many elderly that are losing their homes.
Money is not worth as much. It’s inflation (the Austrian definition) that’s caused much of the problem.
Devaluation of the dollar.
A person buys a house 10 years ago on 20.00/hr, now, 20.00/hr won’t cut it.
Don’t listen to the media crap that it’s people getting into homes they could not afford. Many of them could afford it when they took out loan, but not now.
Have you not felt the financial stress, especially in the past 5 years yourselves?
(AND NO, I’M NOT IN FORCLOSURE).
I know people who are struggling, and they have worked hard all their lives.
And Yes, they did allow the (kids shows) TV to convince their kids they they just had to have a cell phone. And they had to have that new tv, and etc.............took out equity loans on their property, etc.....yep, they fell for it, so let 'em burn eh? Let’em burn for being convinced/(dupped into thinking) that that was the way to the American Dream.
It is the responsibility (IMHO) for the more intellectually gifted to abhor taking advantange of the poor and the less gifted. It’s like a man with a gun taking advantage of the unarmed.
I disagree with the idea that the average citizen likes what is being done to them, they just don’t see any alternative but to cast their lowly vote for the one that they think will hurt them the least.
Yes, there are those that are doing better that have their dog in the fight, but they are not the average, lower middle class and poor.

the bad financial decision making has to stop

America cannot go on spending more than it makes. We are like a person who lives a wine lifestyle on a beer diet. America has to either live within its means or go bankrupt. Since votors will never vote a politician in making lots of cuts to programs like Medicare and social security the only option is for America to go bankrupt eventually. Better for things to crash sooner before they get worse and begin rebuilding on good financial ground. There is no way America is going to pay off its debts because the people will refuse the necessary cuts. These bailouts only delay the necessary crash long enough for the politicians to be out of their term and out of the blame

Thi bailout is train on a collision course

Bush, Paulson & Congress are rushing to pass a $700 billion bailout bill to rescue the financial industry. Americans need to write their representatives and let them know we are angry.

I read the three page Paulson proposal and was angered by its entirety. But the most galling part was the section that states no review of the secretaries decisions can be undertaken by any agency or court. The arrogance of this administration; first and foremost this bailout legislation must have accountability. It should be open to frequent congressional, judicial and public review before and after execution.

I wrote Senators Kennedy & Kerry and Representative Olver this morning to express my anger and gave them some suggestions. I list them here:

1. Slow down. Debate this thoroughly and publicly. Get the American people�s view and listen to them. After all, they are the ones paying for this bailout.

2. Make sure that any corporation that benefits from this does not give, or honor, executive bonuses, golden parachutes, stock options or any other form of compensation for the jobs poorly done.

3. Bring back government regulation of the financial industry, with strong, public and frequent government oversight. This includes the monitoring of this bailout program itself. In today�s Globe I read that �at least every six months� is planned for congressional review of this bailout. I believe it ought to be at least monthly, and televised so the public can see what is going on.

4. Make sure that whatever the final bailout legislation, it must address the rampant foreclosures being suffered by the American people.

5. Address the impact on Social Security and Healthcare by this bailout and plan to ensure their long term viability. I don�t believe there will be any long term profits from this bailout, nor do I believe there were from previous bailouts, even though the government is trying to convince us of that. However, should there be, this bailout bill should guarantee that those profits go into Social Security and Healthcare and made unavailable for any other expenditure.

6. Since this problem was largely caused by corporate greed - i.e. corporations taking undue risk to reap undue rewards - this bill should also address the closure of corporate tax loop holes to help fund a major share this bailout. Placing this burden largely on the American people is simply not fair.

7. Foriegn banks shoul look to their homeland for rescue, no American taxpayers.

Boys and girls, your troubles began with an actor playing Your President!

You did not object top the lies! You became messianics to the republican lying 'theives'!

You did not fight for your right to work! You let the republicans convince you to hate unions and union people! Unions are people, and they are people cooperating! You allowed their jobs to be outsourced! The companies they built, bot the moniey mangers! They Built! They made the profits! Their Ideas made the Business Grow! They made the Country Grow! They were the arms the legs the workers!

You said nothing when lil bush let the wall street theives keep 90% of the monies they stole! The fines were less than 10% of the Profits of the Thefts!

We have the same fools posting on this site, messianic republicans, claiming anyone that demands honesty truth and rule of law, is every bigoted name they can. They will lie steal impersonate create any and all falsehoods in support of their gods of greeds.

Obama found his Dollar too late! He knew where it was last year, but lost his way. Now! Today! even the fifth graders know the boogymen are the Leaders of Our Country Communities and Corporations!

Like Obama, too many 'workers' thought they could forget their roots and cooperations and forge their way to riches! To the First Trillionaire! Greed boys and girls! Destroys cooperation first!

Maybe now the Malaysians will appreciate Mahatir

When Dr. Mahatir baled the Malaysian Banks and other companies that caused the financial crisis in Malaysia in 1997 the world leader said he was stupid.

Now ALL the world leader from BUSH to BROWN to RUDD have now decided the only way forward is to do what Dr. Matahir did for Malaysia in 1997.

If Dr. Mahair say peg the Ringgit to the Dollar, just do it Najib.

HINDSIGHT

Froth and Facades; no firm foundations, underpinned Wall Street for so long that everyone in the know knew this was coming - so where was the ethical leadership from those responsible, highly educated captains of our society? Who held onto the moral compass or was it just left slopping around on the bottom of the pig trough during this undignified orgy of greed? Strict regulatory oversight and criminal penalties should now be on the road directly ahead. Shame, selfish shame....and it�s the poor people are going to carry the burden of suffering.
And I am attention You are the best.

SOS to Yatim Children

Dear Sir.
I wont to You help Yatim Children for Albathilas RT.01 RW.01 Sendangguwo Semarang, Rek Bank BCA KCP Majapahit Semarang Central Java Indonesia No. Rek. 4620471297 the name Moh. Sofwan. Please transfer mony. Thanks. You are the best.

The irony!

Those that sent your jobs to all four corners of the earth! now want you to bail them out so they will not loose their jobs! You get to pay their very very high paying Leadership jobs!

The 2nd large foreclosure, the majority of Democrats are flunking out of California.

In the United States of America, we are facing a challenge of the survival of the fittest. It is time for many Wall Street’s trading corporations to restructure and adjust the size of operations. If you have a college degree(s) to avoid the elimination series, incurious African-American’s socialism to America’s politics, stay away those non-sense women’s underprivileged group to make decision to your fate, you should be okay. California Governor Arnold Schwarzenegger fights back just like that. The majority Democrats lasting controlled dynastry of 55 Electoral Votes are flunking out of California, after the blacks and Latinos are being eliminated out of California; the California State Government’s Rainy Day Fund could be installed recovery.

Our suggestor for nose fingering has a challenge!

If you can get your finger from its orifice, provide some economic reasoning for your position. I am capable of understanding the technicalities!

I wonder how it isyou and the lil pundit grasp the technicalities of the failure, after the fact and missed it by so many miles before the fact? Especially since persons like me warned of the outcome some 4 to 5 years ago, and predicted it in March 2001. Based on the first two months of the lil pundit’s acts and directions provided!

So how did the likes of you allow this to happen? And Why are you a choice today to fix it? What is the Plan? And what is the Outcome of your Plan?

So far you have only sung a lullaby.