government approves $700 billion bailout plan

[duece212 5,000+ posts]

Do you not realize how the money is being used?
I see no reason it should not have been approved. I think it was the best option at the moment.

It will be used to prop up over inflated house and wallstreet values. If both values drop back down to where they should be then the "assets" the Gov buys up will be worth dick.

Atleast some idiots that bought too much house at stupid terms will get their loan terms modified and maybe even get their principal amount of the loan lowered. Hooray for buying other people houses.

 

[babaganoush123 10+ year member]

nooo....there gonna get there money back right when we pay taxes....our taxes are just gonna get higher now.

 

[mcsoul 10+ year member]

i really hope it helps our economy.

Hope in one hand and a shit sandwich in the other.

 

[duece212 5,000+ posts]

Hope in one hand and a shit sandwich in the other.

Bring on the big bread, we got alot of shit to eat

 

[WhoSayWho? 5,000+ posts]

Do you not realize how the money is being used?
I see no reason it should not have been approved. I think it was the best option at the moment.

It seems most knwoledgeable people think this was a shitty way to handle this.

 

[miker 5,000+ posts]

It seems most knwoledgeable people think this was a shitty way to handle this.

Like who?

And what would those "knowledgeable" people suggest instead?

nooo....there gonna get there money back right when we pay taxes....our taxes are just gonna get higher now.

There are plans to keep taxes the same or even lower them, of course nothing's for sure. . .

 

[Jmac 10+ year member]

I dont believe in it for a very good reason
When the government interferes with the finances of its citizens its pretty much a Socialist government then because by definition that part of what socialits are. I believe that we are getting close with this crap and that we dont need any more dam debt to other countries

Uh, how is this socialist ? Socialism involves the government providing public services such as continued education (including post secondary), health care, etc. to the public and, generally, providing welfare to those who cannot support themselves.
This is NOWHERE near socialism; this is keeping the wealthy people who made bad decision after bad decision rich.

 

[azimuth 5,000+ posts]

Uh, how is this socialist ? Socialism involves the government providing public services such as continued education (including post secondary), health care, etc. to the public and, generally, providing welfare to those who cannot support themselves.
This is NOWHERE near socialism; this is keeping the wealthy people who made bad decision after bad decision rich.

calling it socialist is a little extreme. but it is the path to socialism. it's dangerous to allow it to creep in.

 

[azimuth 5,000+ posts]

the guys that ran those banks already made their money and split. now it's the politicians we need to watch. they already porked up the bill to save an economy hurt by pork and over spending. great plan pelosi looked like a pig in sh!t when it passed.

 

[Jmac 10+ year member]

calling it socialist is a little extreme. but it is the path to socialism. it's dangerous to allow it to creep in.

Socialism isn't necessarily a bad thing, but few countries are able to hold strong economic influence while implementing a primarily socialist government system.
I would get into the socialism vs. capitalism debate, but it's pointless. The US is heading towards socialism, Canada is heading towards capitalism, and a lot of people in both respective countries are not happy about it, but can't change anything.

 

[azimuth 5,000+ posts]

Socialism isn't necessarily a bad thing, but few countries are able to hold strong economic influence while implementing a primarily socialist government system.
I would get into the socialism vs. capitalism debate, but it's pointless. The US is heading towards socialism, Canada is heading towards capitalism, and a lot of people in both respective countries are not happy about it, but can't change anything.

i agree. not on socialism being a good thing, but at least you recognize the move in the USA towards socialism. i think it's a big mistake.

 

[Jmac 10+ year member]

Depends how you look at it, but realistically, no country can be truly successful with a purely capitalist or purely socialist government. They need to balance both capitalist and socialist ideologies.

I think the US needs to maintain a mostly Capitalist system but with more regulation, to not only prevent situations like this, but also to keep the disparity between rich and poor from getting out of hand.

I don't know if you've noticed, but poor people spend money like it's going out of style. Increasing the minimum wage and implementing policies that help increase the population of the middle class (i.e. more funding into public education) will only help the country's economy in the long-term, even if said policies do not fit with a purely capitalist ideology.

 

[azimuth 5,000+ posts]

Depends how you look at it, but realistically, no country can be truly successful with a purely capitalist or purely socialist government. They need to balance both capitalist and socialist ideologies.
I think the US needs to maintain a mostly Capitalist system but with more regulation, to not only prevent situations like this, but also to keep the disparity between rich and poor from getting out of hand.

I don't know if you've noticed, but poor people spend money like it's going out of style. Increasing the minimum wage and implementing policies that help increase the population of the middle class (i.e. more funding into public education) will only help the country's economy in the long-term, even if said policies do not fit with a purely capitalist ideology.

i can't argue with that, but it seems that the democrats will take it too far. a happy middle between conservative and democrat social policy may work fine, but both parties are heavily influenced by the outer fringes.

 

[2002XLT 5,000+ posts]

its fcking stupid. now i get to pay for peoples mistakes and all the people that gave loans to people who couldnt afford them to get a quick dollar gets to keep it. Fcking stupid *** gov't. If they wouldnt meddle we would have a recession, prices would drop, and people who could actually afford these homes would purchase them. This is just going to allow the banks to loan more and more and in a few years we will be in the same exact spot and 700 billion + in the hole. Fcking retarded.

 

[WhoSayWho? 5,000+ posts]

I don't know if you've noticed, but poor people spend money like it's going out of style.

Yes, every payday they think they have hit the lottery. And 10 days later they figure out they can't pay their mortgage. Again.

We should tax the hell out of capital gains so that the party can last a little longer.