Organizing for America | Luckyone08 Blog: What are you thinking?

What are you thinking?

By luckyone08 - Oct 2nd, 2008 at 7:26 pm EDT

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Tags: Americans, bail out, bare knuckles, bonuses, economy, goernment, voting

I've been following the bail-out talk since this has started. Now, the goverment wants us to bail out WallStreet for $810 BILLION DOLLARS!!! It could go up even higher! Who do you think your fooling? I am so tired of our elected officials acting like the average AMERICANS are fools! First I hear how terrible everything is and it will cost $700 Billion dollars to fix this mess. Then the price keeps going up! They are padding this spending spree with crap. You are trying to make enough politicians happy by adding enough extras to squeeze out enough votes. If the economy is this seriously messed up BE honest with Americans and cut out all this extra spending. This great country needs people in office who really cares. You can't run your own home on what you wish you made. There comes a time to face reality! Just figure out the price tag without any pork barrel spending. I mean bare knuckles. And, what is the plan to repair this and turn things around? How are Americans suppose to trust you now? Make this right,please. I can say one thing- this time when election day comes I will know how every vote was cast. If Americans feel like we are being taken for a ride I will vote for the other guy.(by the way, the CEO'S of all these corporations should be held accountable. None of them have a right to any kind of bonuses or padded pay packages.)Take that money to help with the bail out.

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By Mikeystyle Oct 2nd 2008 at 7:45 pm EDT (Updated Oct 2nd 2008 at 7:45 pm EDT)

The word “bailout” doesn’t fit

Yes we’re providing money to investment banks but we’ll be getting a large portfolio of mortgage-backed securities in return.

These are complicated investments that are hard to value in a slumping real estate market. Unlike investment banks, Uncle Sam has deeper pockets and can wait until the market stabilizes and the value of these assets recover enough to sell. We may even make a lot of this money back over time.

At the moment, the illiquidity of these securities is causing a major credit crunch to the point that even solid companies are having a hard time obtaining loans. Car dealers are reporting the sales are slumping because they can’t get credit for potential buyers.

Who should care about this? Anyone who borrows money or work for a company that does—that means all of us in this credit-driven economy. If we fail to act on this problem it means higher interest rates and lack of borrowable funds for anyone with a mortgage, credit card or student loan.

Obama put it best—if the house next door is on fire you put out the fire first and then figure out what caused it and how to keep it from happening in the future.

Our banking system is on fire. It’s time to get out the hose.

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By luckyone08 Oct 4th 2008 at 4:26 pm EDT (Updated Oct 4th 2008 at 4:26 pm EDT)

I don't understand how you can back this spending package as it is. They have added all kinds of extra spending(including something about helping people who make wooden arrows!). What is up with that? They need to cut out all the bull-spending and get down to the real issues. This time we need to put truth and honesty first. This package is totally out of control! Did you know our government gives tax breaks to companies who sends jobs overseas?

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By TLEE Oct 2nd 2008 at 7:48 pm EDT (Updated Oct 2nd 2008 at 7:48 pm EDT)

I am with you Luckyone. I don't know who to trust when it comes to this bail out and adding state and local luxuries to the price tag. If this Bill is called an emergency, I wonder what you will call the next one. I wasn't so much against the bail out until I read about the extra $150b. Barack, you said that you would not buy in to lobbyists and here we are. You need to explain this to us better than you have in the last few days. I am disappointed and beginning to lose trust. When you are in office, I hope you will do a better job of standing up for what you believe in.

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