Money Beat

They have not failed to communicate the seriousness of this 'situation'. I understand it quite well.

I also understand that this is our problem not the problem of future generations of Americans. Time to do the right thing. We either allow this to fix itself or make it worse for future Americans. Throwing money at it will not fix it but will make it worse.

Are YOU willing to step up and take what is comming.

Or would you rather pass it on to your grandchildren so their future will be ruined.

America will survive this... I have faith in that.

"(L)ots of people are going to get their quarterly 401(k) statements and see that the value of their nest eggs has dropped some more."

Now there is an understatment. There are going to be a lot of very frightened people when those statements start showing up in the mailbox next week.

We the people want NO MORE BAILOUTS OFFERED or DISCUSSED PERIOD --- ITS TIME TO CLEANSE THE SYSTEM --- if Congress does not listen --- YOU will be voted out ---- we have already spent 900 Billion Dollars in bailouts and infusions that has done nothing but allowed the rich to get richer--- we will not bow to economic servitude, to economic slavery ever again ------ do bad business then its bankruptcy ---- not the bailout line---------- These companies need to be told to stand on their own -- Sorry but that's what happens to us ------- good business decisions would allow success -------- bad business decisions will lead to failure ---- NO MORE BAILOUTS PERIOD -- WE ARE PREPARED FOR WHAT IS NEXT -- WE DONT WANT ANY CREDIT -- WE WILL PAY CASH -- WE WILL NOT BAILOUT FORIEGN COMPANIES EVER -- FIRE THE FEDERAL RESERVE!!!!

I looked over the bill. It is as pork laden as all their efforts at law-making. There are protections for Puerto Rican rum, children's wooden arrows and movie productions written in and something called the Domenici-Wellstone mental health center. If this bailout is so urgent, why is this stuff inserted into the bill? Greed, that's why.

NO BAILOUT--- VOTENOBAILOUT.ORG

Email CNN, CNBC, MSNBC, FOXNEWS

Tell them, as a matter of fact, WE DO GET IT!

NO BAILOUT!

Let the chips fall where they may. We have a free economy that needs to be free to correct itself when need be. An era of reckless lending and borrowing needed to end and it's ending with a crash. So be it.

The banks will not work with the homeowner to help them save there homes why should the public care about the banks failing. I hope they contunue to fail, they can work out the loans or live without a job. Since so many americans are homeless because of the Banks let them Die out!

I understand this will be passed on to my children and my children's children...

I understand perfectly well that THIS GENERATION will be taxing (without representation) future generations.

It ends with US.

NO TO THE BAILOUT. I will not steal the future to prevent pain for myself!

I hope our congressional leaders & their aids read these posts. We will NOT vote for you in November who support the bailout!

Let the financial markets take their lumps. We chose to pay the price now and not pass it onto our children. Better to car pool & eat beans now than morgage their future.

Well, it is beginning to be sold correctly now. I don't know how many TV interviews I've seen in the last 24 hours with small business owners who have had open lines of credit for years, who are now shutting down outlets or the whole business (and laying off employees) because they can't get their usual lines of credit. These aren't deadbeats. They are folks like farmers (come spring) who need money for seed and fertilizer and your local spas, auto dealers, candy stores, pizza houses and the like who need credit to keep going and who pay back their debts regularly and on time. This is just the tip of the iceberg, folks. The House Neocons have created a fine how do you do. Our 401K dropped several thousand dollars in one day, and that's just the beginning. The "deregulate at all costs" and "don't enforce any regulation" folks like Bush-Cheney, McCain-Gramm and the House Reublican neocons have gotten us in a fine fix. For the sake of the main street ordinary people they haven't cared about before, they should vote to help get us out.

You and the rest of the media have done a horrible job explaining it as well!

What are they trying to "SELL" me???

Higher taxes for me and my children?

Oh, they're selling it alright.

I'm just not buying it!!

NO to the "rescue".

US senators & congressmen - what part of "NO Bailout" do you not understand?

I suppose this is how corrupt leaders got to label abortion "choice" and that's how abortion got sold to the American people.

Stop with the mind-wording America and call it what it is. The bailout is Government socialism covering up for greedy crooked lenders and mortgage co's.

I'm "buying" debt?

Why on earth would I do that?

Do not use my tax money to bailout a bank.

People- email your representatives.

Email the media.

Email your friends.

We the people- need to check our leadership.

No taxation without representation... I remember that from history class.

We just locked in our $15,000 Home Equity Line of Credit at 6% for 50 bucks. So much for credit drying up.

Checked my 401K online and I have lost only about 8% during this quarter but I have also bought more shares at a lower price this quarter. My home has probably depreciated about 10% over this time last year but then again it was probably up about 50% since I purchased it in 2001. I'm not selling my house so I do not care. If I lose my job; I'll find another one! I am main street and I do understand what this means if they do not pass this theft bill. Maybe some of the companies that need to go bankrupt will go bankrupt. Do not tell me that I do not understand! Everyone has been distracted by the $700 billion and little was mentioned about the $25 billion loan to the automakers. Why are we bailing out GM when they pay their CEO $15 million a year and it hasnt made a profit in years?

All those advocating a self regulating approach without the intervention of Government may have not considered that one os the effects to these financial instituions going belly-up may be a tightening of credit based lending, in particularly for automobile purchases using loans.

Guess what if you kill the dollar by printing money you kill our 401k's anyway because the value of the money will be worthless.

Let's really get at the heart of the problem. How about America take back it's ownership of its own money supply. Look at how much interest the central banks take for loaning us this money to prop up our system. The whole thing is built on credit. I want a monetary system built on hard assets. Let's hold out people the FED is on the ropes, we can plant gardens we can hunt, we can bring this revolution to their marble thrones peacefully and responsibly!

This new face of a Rescue Plan is nonsense. Golden "Parashute's" are for Bailing Out correct?
Keep watching the Votes in the Senate as I will be doing. As an Independant Voter I plan on Voting against the majority who Votes YEA to this plan.

They explained it just as it is... why put lipstick on this pork? OH that's right, to confuse and frighten the lil' sheep of America into giving the CONgress and Fall Street endlessly fat checks.

And let's not forget the foreign investors.

We understand perfectly... CONgress and Wall Street is showing us perfectly, they don't care for US, they only care about THEM.

NO BAIL SEND 'EM TO JAIL!

Throwing money at this won't help.

Buying crapsandwiches won't help!

It's going to be a bumpy ride, let THEM take it with us.

End The FED: AMEN!!!

The sub prime seeds began back when Carter signed in law lowering mortgage qualification requirements, further exacerbated by Clinton broadening credit risks and finally completed by Bush's removal of proper check and balances (pretty much covers the it). You can't fix a 20 year systemic problem with a "simple" bailout vote.

Poor credit principles with no "risk" or accountability are the problem. If the "wise" financiers now admit that they didn't fully understand their bad investments, do you believe that the governement should buy those bad investments and expect us to believe they will make good on turning them around? Are we really that stupid?

NO BAILOUT. Pay the price of poor choices. Isn't that what we try to teach our kids, ...uh - the future leaders of our country? Ever heard the phrase "learn by example". You think our kids are not watching? Those of us that have kids know better. We better walk the walk.

I agree with the above comements, and would take it a step further:

The "selling point" is that banks aren't lending money freely, and that is slowing our economy, primarily because consumers and companies can't borrow short-term to pay bills. Well, there's your problem. Allowing this bill to pass and BRIBING the banks to start loaning again, which is really what we're doing, only puts a bandage on the problem. House: VOTE NO on this bailout, and come back with a bill that addresses our national credit addiction. That would be worth paying for, because it actually addresses the problem.

COME NOVEMBER, VOTE OUT ANYBODY WHO BACKS THIS BAILOUT.

(side note: isn't it great how the public now agrees with Ron Paul after marginalizing these very concepts for his entire campaign?)

Let's see.... why don't we trust them? The people that are voting for this bail out are the people that can afford to dabble in the stock market. They are saving thier own asses as well, with money hard working Americans have earned! Like putting the fox in charge of the hen house. No Bail Out!

NO BAILOUT NO BAILOUT DOES ANYONE IN THE WHITE HOUSE HEAR ALL OF US...OR DO WE HAVE TO SHOW YOU COME ELECTION TIME...OR DOES THAT EVEN MATTER ANYMORE....

An hour ago there was a comment alleging "It is as pork laden as all their efforts at law-making. There are protections for Puerto Rican rum, children's wooden arrows and movie productions written in and something called the Domenici-Wellstone mental health center." I have read the entire ESSA, as well as used the PDF search tool, and I do not find any of the alleged pork provisions. Is this some kind of joke?

I'm tired of being called, essentially, stupid, aren't you all? They really think the only reason we don't agree with this 'plan' is that they didn't spin it right? Please!

It's not that it wasn't sold right - just like with the Iraq war, the news networks played their part in trying to convince the country that this bailout was right. What was missing from most of the conversation was discussion about the viable alternatives or other steps the federal government could take to minimize a recession.

Two words.

NFL Cheerleaders.

Obviously, the author of this blog doesn't get it.

No Bailout, I am sick and tired of taking care of the rich who are lying and laughing all the way to the bank with our money. Its time for America to clean up its act.

With cheerleaders like Henry Paulson leading the way for a bailout its no wonder the American public is outraged. Paulson made 163 million in his last year as Goldman Sachs CEO, now, who's side do you think he's on? Congress is no more than a bunch of wealthy idiots if they pass this package.

http://latimesblogs.latimes.com/washington/2008/09/chris-dodd.html This is unbelieveable.

Some of the comments I've read really do reflect the poor job the administration in Washington has done with this mess.....right down to the use of the term "bailout." If we called it what it is....."rescue," much more understanding could have been built into that term rather than the former. A "rescue" is, indeed, in order beause, folks, if this CREDIT CRISIS expands, we will....all of us...
be talking and looking for a "bailout."

expat7...You are absolutely right. We don't want this bill to pass to make them richer. We will pay this bill the rest of our lives. Our children will too.

http://latimesblogs.latimes.com/washington/2008/09/chris-dodd.html

Is there any truth to this? The FED wants to have no reserve limits? What will it do to the dollar?

"
SEC. 128. ACCELERATION OF EFFECTIVE DATE.
Section 203 of the Financial Services Regulatory Relief Act of 2006 (12 U.S.C. 461 note) is amended by striking ‘‘October 1, 2011’’ and inserting ‘‘October 1, 2008’’.
I wonder if this is the real meat of the bill. What is it referring to in the Financial Services Regulatory Relief Act of 2006?
http://www.govtrack.us/co...
SEC. 202. INCREASED FLEXIBILITY FOR THE FEDERAL RESERVE BOARD TO ESTABLISH RESERVE REQUIREMENTS.
Section 19(b)(2)(A) of the Federal Reserve Act (12 U.S.C. 461(b)(2)(A)) is amended--
(1) in clause (i), by striking `the ratio of 3 per centum' and inserting `a ratio of not greater than 3 percent (and which may be zero)'; and
(2) in clause (ii), by striking `and not less than 8 per centum,' and inserting `(and which may be zero),'.
SEC. 203. EFFECTIVE DATE.
The amendments made by this title shall take effect October 1, 2011.
Here is the original bill to which this is referring:
http://www.federalreserve...
2. Reserve requirements.
A. Each depository institution shall maintain reserves against its transaction accounts as the Board may prescribe by regulation solely for the purpose of implementing monetary policy--
i. in the ratio of 3 per centum for that portion of its total transaction accounts of $25,000,000 or less, subject to subparagraph (C); and*
ii. in the ratio of 12 per centum, or in such other ratio as the Board may prescribe not greater than 14 per centum and not less than 8 per centum, for that portion of its total transaction accounts in excess of $25,000,000, subject to subparagraph (C)."

No sales job should convince us to take medicine that none of us believe will remedy what ails us or cleanse the mistakes of the past. We understand that the high-rolling days of the past decade are over. We also understand, through good old-fashioned common sense, that trying to sweep these assets under the rug of our staggering national debt is more than unwise...it is dangerous. The plan was hastily conceived from the start, and despite some window dressing, its basic formula remains in tact.

Many of us, I believe, see this as a MASSIVE, but very WET BAND AID. That even as we try to put it on the wound, it is coming undone.

Our whole economy is based on massive consumption based on borrowing. No amount of bailout will work. The fundamentals need to be changed. American individuals are broke as is the country. Just listen to Ron Paul and you will understand the obvious.

Since when do politicians know what is better for us than we do? We The People of the United States of America do not want this bailout!!! It is time for our elected leaders in Washington and at home to do their jobs! Their jobs are to listen to their constituants, not bail out Wall Street!! NO BAILOUT!!!
I vow to personally campaign against my representatives if they vote yes on this bailout!! Unlike them, I will keep my word!!! Bank on it!

The very first post here by Eugene Surratt is 100% correct. We must keep the pressure on our elected officials to NOT pass this bailout bill. We must allow the markets to self correct and rid us of the toxic housing and business failure debts.

All this bill will do is artifically extend the problem to crash upon us-again, down the road. The U.S. dollar is nearing it's end as a worldwide financial currency if we don't purge the corruption out of it's value.

WaMU, AIG, Bear Stearns, Merryl Lynch, Wachovia, let them fail and let their debts go with them.

Both Dems and the GOP are to blame for this, both parties let the American people down by mismanaging our financial system. I suggest the next thing we demand be purged is every incumbant who votes for this bill, maybe they will then hear the voice of the people to which they serve.

The bottom line is that we NEED to get back to a time where it takes a little work and preparation to qualify for a loan. Save up a down payment for Pete's sake. That's virtually a foreign concept now for most Americans. Only those with some conservative (financially speaking, not politically speaking) common sense do it any more. Everyone else is getting 100% to 125% loans. And do we even want to talk about credit cards? There was a time when Americans loathed being in debt, it was a horrible thing to avoid if at all possible. A mortgage was the only debt my parents ever accepted and that 90 DOLLAR monthly payment gnawed at them until it was gone. I have to admit, I've been less frugal and I've learned the hard way why they had that attitude. Turns out mom and dad knew right.

They have money, but they won't lend it, but they would be happy to lend ours? which btw isn't even really ours, it's our kids.

Mean while cars continue to be financed to anyone with a heart beat and the steady flow of credit card offers continues.

This prop up of a screwed up house of cards has got to end somewhere. Vote No

No bailout! What should be done is make banks rewrite the mortgages to a lower fixed rate so that way people can keep their homes, banks can keep money coming in, and taxpayers don't have to bail them out. What's in it for us? Are we getting a piece of the pie? NO. We're screwed so let's fix it, and that means NO BAILOUT. The market didn't fail when the House voted NO, it won't fail if the Senate votes NO. If a business like a bank isn't managing it's assets correctly, who has the idea they will manage public money! NO BAILOUT!

bur, search for these sections:
- Film and Television Productions (Sec. 502)
- Wooden Arrows designed for use by children (Sec. 503)
- 6 page package of earmarks for litigants in the 1989 Exxon Valdez incident, Alaska (Sec. 504)
Tax earmark “extenders” in the bailout bill.
- Virgin Island and Puerto Rican Rum (Section 308)
- American Samoa (Sec. 309)
- Mine Rescue Teams (Sec. 310)
- Mine Safety Equipment (Sec. 311)
- Domestic Production Activities in Puerto Rico (Sec. 312)
- Indian Tribes (Sec. 314, 315)
- Railroads (Sec. 316)
- Auto Racing Tracks (317)
- District of Columbia (Sec. 322)
- Wool Research (Sec. 325)

The Federal Reserve MUST GO!!!
We need to get back to the gold standard in this country for things to turn around!

I think their additions were mere incentives which failed to change any problems with the bill. The bill needs a more concrete payback plan. Like a % of these companies profits or wages something that will start paying back the $700 billion bailout. Or at least create a fund for the next crisis then go on to payback when all these crisis are over. The way it is now, It is little more then a delay measure until the next crisis.

I am amazed at some of the responses posted here. A lot of folks did not do thier homework, have misunderstood or are simply too emotionaly tied up to understand. In addition the news media has done a very poor job of honestly presenting the facts but a wonderful job of presenting information that is misleading and or wrong. Brings back memories of "yellow press".
I agree we need to put new people in the do nothing Congress and it should be ASAP.

The problem in the author's mind is not that the bailout bill is nothing but pork-laden corporate welfare.

The problem is we country folk in red states are too stupid to understand finance and that the President did a bad job of making us "get it".

Typical condescending liberal media.

I am not stupid. I understand the bailout completely. I would rather weather the storm Paulson is predicting than give these schmucks any of my hard earned tax dollars.

I was pleased to see Democrats and Republicans come together to defeat that bill in the House. Finally bipartisanship that works for us!

It's time to take up arms and throw Congress and the Executive Branch and the federal reserve right in prison.

If the bailout is voted through, do America a favor and round up a Congressman/Senator/Lawyer/Investment Banker and beat them senseless.

The time for the average American to reclaim this country from corporate greed and executive/congressional ineptitude is now!

Dummies leading Dummies!

Well, viewer of ABC,
The plan of the bailout doesn't mean that Federal government freely give your precious taxes, $700 Billion to the banks and financial co which will go
to bankrupcy. In a nutshell, the plan is to loan to the banks w/low nterests, then, they will absoulutely pay back after survival. It was enough for New Yoker to watch the collapse of Twin Building on Sept. 11, 2001. We don't want to watch another collapse of tower
of WALL ST. which represents a World and American economics. I, highly, am expected to pass the Bill by senate tonight.

I'm still waiting for MSNBC or any network to put on anyone to speak against the "necessary" bailout which will actually contribute to the problem not solve it. How affirming that despite massive govt and media (except Wall St. Journal) propaganda the public has enough sense to know the bailout plan is both ethically and economically wrong. Hello, Japan is just coming out of 11 yrs of recession from following an idential bailout plan with everyone pointing out they should have let their banks fail. Weak banks fail, good banks buy them, and it's business as usual. It's the best and only solution - LIBOR and credit markets will immediately recover as good banks left. The stock market and your 401K is fine as for every loser there's a winner (index funds, people!). Conditions are drastically different than in 1930 including private equity markets as lenders. I'm an investment banker in derivative markets with an economics degree and MBA, and AGAINST THE BAILOUT.

I think most Americans, whether they understood all the esoteric economic stuff or not, realize that even if the bailout went throughm, we'd still be paying out the nose for it and so would our kids. 700 bill is an irresponsible amount to throw at worthless items, and we get -nothing- from it, not even the illusion of pace of mind, because we all know that the only way to get out of the hole that the bailout would put us in, (and we'd have to close our eyes and plug our ears like a kid during a thunderstorm)is an increase in taxes that would turn any economic gains the bailout produced on wall street, into losses for the foreseeable future. We don't need more lines of credit right now, we, as individual consumers, and businesses small and large NEED to learn how to live within out means, to understand fiscal rsponsabiluty which has been a boogey man to allot of people for far to long. Time to wake up and face reality. No reward for failure.

Stop insulting Americans, they do understand. They are just moral people who know right from wrong, and that seems just oh so gauche for the intellectual elites who seem to think that mental process is more important than moral responsibility.

What Americans know is that we will all be hurt, but we are not all equally responsible.

The billionaires who made money hand over fist in the deregulated free market with mortgage backed security derivative scams and hedge funds should bail us out of the mess they made.

Pres. Bush should reinvent his fathers' "a thousand points of light" message and ask the ultra rich to create a Wall Street charity to help us, as a matter of patriotic duty to the country that has given them the American Dream, and not punish Main Street with the American Nightmare.

Money is leaving the stock markets and going into FDIC insured accounts at the banks. What are they doing with it? I thought banks take in savings deposits and use them to loan money. This credit crisis is a lie. Why doesn.t someone check on what the banks have taken in of the trillion dollar loss on Wall Street. That money went somewhere.

They are saying that by investing into this scheme we taxpayers will get money back within 5 years with some profit. So I assume this investment is almost as good as treasury bonds or may even better because they have some "assets" behind them and treasury does not. If so - just sale them to Chinese or Saudis.

I hear all of the complaints about the bailout and I don't get it. Something has to be done. All of this is a trickle effect from the last few years. it started with 9/11, then auto sales dropped, then millions of americans were out of work, then people weren't paying their mortgages, now banks are stuck with bad loans on foreclosed loans. if we DONT do a bailout all of the following will happen:

1) No credit - that means no new cars, no new homes
2) Retailers will not have inventory. They don't pay cash for their inventory. They use credit. Without credit, there will be nothing for them to purchase. Hense, no Christmas
3) Businesses will have a difficult time operating. That will equal more job losses.
4) Credit card companies will raise their interest rates on current card holders

So this will affect EVERYONE! yes the plan is not perfect right now. I wish there were a provision that would reward those of us who pay bills on time. But something needs to happen and now! I for one do not want to lose all of my invested savings!

Please contact your representatives to vote NO!!!!!!!!!!!!
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Also join Facebook's 700,000,000,000 strong against the 700 billion bailout.
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http://schumer.senate.gov/SchumerWebsite/contact/webform.cfm
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http://clinton.senate.gov/contact/webform.cfm?subj=issue
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I am expressing I'm unhappy with the idea of a bailout. I feel if passed Americans will pay yet again for others greed and poor choices. I vote no.

If this bill is passed, it will only be a temporary fix, that's a given.

They say that if it isn't passed, we'll end up in a depression, perhaps even one that could rival the Great Depression.

Here's the thing that the media seems to ignore when it comes to reporting this whole issue: Recessions and depressions are as much a part of the economic cycle as are financial boom times.

Given that, it should be noted that we are already in a recession. The National Bureau of Economic Research defines a recession as a significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in real GDP (gross domestic product), real income, employment, industrial production, and wholesale-retail sales.

Employment has been down the past several years. Thanks to the inflation driven by the Fed, real income has been down, industrial production is down because people aren't able to purchase as much, and sales have been down for the same reason.

We are in a recession. However, taking money from the taxpayers will not fix things permanently. With the bailout, we'll find ourselves in an economic depression before very long.

If Joe Taxpayer found himself in a bind because of poor business decisions, Congress wouldn't be in a rush to bail him out, so why bailout Mr. Multi-Million-Dollar-CEO?

People on this blog oppose the bailout because they think it will benefit the rich. So why are they for tax policies that benefit the wealthy? Why do you think the rich have gotten richer in recent years? Because of government policies. The reality is that your beloved Reaganomics principles are proving to be a catastrophic failure for average people who are going to lose jobs and businesses. It's time to put voodoo economics where it belongs -- on the ash pile of history...

These politicians are ridiculous. Now they are adding everything under the sun to this bill. Everyone kept telling us that "today is the day or else." The stock market hasn't been plummeting. And the $1.2 trillion loss everyone talks about is in paper only. The DOW will eventually be back up to 15,000-20,000. I hope everyone contacts Congress and tells them to vote NO!

Wall Street cheered and rally when corporations announced layoffs or outsourcing of American workers.

Wall Street "shorted" stocks instead of help keep them stable.

Wall Street packaged these bad loans and sold them on the market to get rich.

Wall Street never had Main Street interest at heart. Now Wall Street want Main Street to bail them out?

If your local Congressman/Senator vote for this bill, they answer to lobbies and not the people...

THE PEOPLE HAVE SPOKEN. NO BAILOUT!!!

GUESS WHAT --IF THE BAILOUT PASSES THEY SAY THEY DON'T KNOW IF IT WILL WORK!!!-THEY MAY NEED MORE BAILOUT MONEY-CAN YOU IMAGINE. THIS IS ABOUT A FREE FOR ALL FOR ALL THE CROOKS IN WASHINGTON AND BUSINESS EXECS. --NO BAILOUT EVER--NO NO NO.

Carrie | Oct 1, 2008 1:33:01 Have you read: VOTENOBAILOUT.ORG

Bailout!!! SAY NO!!!

Since President Bush has been in office the wealthiest people in this country have made out like bandits and have not had it so good since the 1920s. The top one-tenth of one percent now earn more income than the bottom 50 percent of Americans and the top one percent own more wealth than the bottom 90 percent. Incredibly, the richest 400 people in our country saw their wealth increase by $670 billion during the Bush presidency.

Having mismanaged the economy for 8 years while continually insisting that, “The fundamentals of our economy are strong,” the Bush Administration, six weeks before an election, wants the middle class of this country to bail out Wall Street to the tune of one trillion dollars. Meanwhile the wealthiest people, those who have benefited most from Bush’s policies and are in the best position to pay, are being asked for no sacrifice at all. This is absurd.

NO BAIL OUT...! There is NO ACCOUNTABILITY in this bill, we will be throwing GOOD money after BAD MONEY and BAD BEHAVIOR...the American People are SPEAKING ABC, CAN YOU HEAR US????? REPORT THIS: We undertand PERFECTLY what is going on...the RICH are right now robbing what's left of the rest of us...they are moving their money, hedging their bets, covering their A$$ES...we are NOT FOOLED!!! NO BAIL OUT..REPORT IT TO THE HIGHEST ROOFTOPS, NO BAIL OUT NOT NOW NOT EVER!!!....

This bill IS A SHAM! Oppose it at all costs!

It is a giant land grab by several institutions, especially Goldman Sachs! Just as NJ's governor, who is a former Goldman CEO, the Treasury head is former Goldman. Guess who is the main benefactor of this deal... you got it. Goldman! NJ's governor, Jon Corzine, and the NJ government over the past several years have directly benefitted Goldman Sachs. It's a running joke in NJ that Goldman seems to be the ONLY lending institution in the country. FORMER GOLDMAN PEOPLE TAKE CARE OF GOLDMAN... PERIOD!

Dennis Kucinich (D-Ohio) is 100% correct on this problem. If the problem is bad mortgage debt, then the problem should be solved from the BOTTOM UP! Just like how Obama wants to correct the economy and help the middle-class by starting from the BOTTOM UP! If Goldman wasn't getting any money from this deal, I might think that it has a bit of legitimacy to it. But Goldman seems to be the main beneficiary of this plan.

Floating money from the TOP DOWN WILL NOT correct this problem - THE BAD MORTGAGES WILL STILL EXIST! Fix the bad mortgages - Stop the foreclosures - Save the people's homes. If the big institutions are complaining about the bad mortgages, How can they complain if the bad mortgages are addressed? DO NOT GIVE THEM THE MONEY DIRECTLY!

THIS IS A LAND GRAB AT THE EXPENSE OF THE AMERICAN PEOPLE!

Contact Congress - tell them to vote NO - www.house.gov/writerep

LOWES4321 | Oct 1, 2008 1:46:22 PM And the BAILOUT may not be constitutional.

Look up "zeitgeist" on You Tube and learn how the federal reserve came to be / The Central Bank / The Rockefellers. You will be amazed at the fleece that has been put over our eyes for so long. It is easily considered status quo. Please, look. It is verrrry interesting.

The level of ignorance on the postings is scary! THis is not a bailout bill it is a bill to stabilize the markets. The people who will be adversely affected are not the "wall Street Tyopes" but those of us in the middle calss - we will be screwed. And so many of these posting are shrill ingnorance - Let's cut off our noses to spite our face!!

Lets's go to all cash - while were at it let's get rid of cars, and atm's and the internet and a whole lot more because that is where t would lead.

Cant we have a rational converstaion/decsion making process in thsi country anymore?

Let's not overlook the incredible power grab that was at the heart of what Paulson asked for: "Give me $700B and don't ask any questions or get in my way." That bit of stunning arrogance convinced me that the answer was "Hell NO, live by the market, die by the market."

Not just this article, but ABC as a whole has done its best to scare us THINKING Americans into falling for this bailout plan. I watched the ABC news at 6 on Monday after the plan failed and all they had was doom and gloom, blaming the representatives who had the guts and brains to vote no. Then they had a stupid cartoon that "explained" how the economy worked that made no sense at all. So much for news, from now on I'm treating ABC News like the rest of their shows - entertainment.

HOW IN THE HECK...can you stabilize markets without CHANGING a DAMMMMMM thing??? You are trying to SCARE us into changing our minds...this BAILOUT/RESCUE/BS Package is a SCAM!!! And because they won't examine how the heck they got into this problem, they don't have the faintest clue how to fix it AND $700 BILLION....ain't even gonna come close...so NO, we aren't SCARED...we can HANDLE the TRUTH!!! The TRUTH ain't forthcoming though...It's all LIES...The MIDDLE CLASS has ALREADY been SCREWED!!!

A lot of us dont have 401Ks and dont want to use our tax money to save other peoples retirement bets.
Also, there has been no mention of fixing the issues other than "we can address that later in followup". I call BS. If they can throw in tax breaks and other bargaining tools then they CAN address the issue as well in the bailout proposals.
First issue / question - why didn't the Default Credit Swaps kick in? I suspect these were investment banker schemes to loosen up capital so they could essentially "double down" on their investment bets. And since these CDS system did not work as planned why haven't they been outlawed? I have no respect for anything this government does or states and since they will not even hold up laws anymore.....who gives a flying krap.

No to this bailout! We don't need another vote. Let the chips fall where they may but do not take anymore of my money to bailout companies.

No Bailout!!!
Bad business decisions mean you're outta business!
Start making better decisions and quit the GREED!
CONGRESS LISTEN!!! WE THE PEOPLE WANT NO PART TAX DOLLARS BEING SPENT ON PRIVATE SECTORS.
Just WHO is going to bail ME out if I make bad choices?