Gingrich on the Bailout: Before D.C. Gets Our Money, It Owes Us Some Answers

The only answers Republicans deserve is hearing the door slammed in their faces.

Would be great, but that would necessitate an investigation. I would suggest investigation be added with possible indictment conviction of abusers of system for greed. I am familar with the corporate greed and decision making through out all of our systems even in medicine. Bailout does need to be approved with oversight and rules of anyone who is paid out over this.

Lots of comments I see. No answer yet from Washington group if decision made. We can argue all we want - I will wait to make any comment until decision made. I do want answers why?? Want protection??? No big CEO/executive payouts!!

I think it should be pointed out that Newt needs to figure out something:
Before DC gets our money...etc,etc..
What he means is before DC adds more debt to what we the taxpayers owe...and as MrCoffee said what our children, granchildren and great grandchildren owe
The government gets it cut out of your paycheck before you do. If you look at their cut, you work until April to pay them before you actually start collectin "your" part!

Why is this needed? All the sudden Paulson says on Meet the Press today that " liquidity is frozen- this has to be done and be done soon to get things moving".

Why can't anyone get a specific answer- are several banks going to go under next week if this is not done- or are more big Wall Street firms going under this week. They all keep talking about main street but they are doing nothing for main street- those of us in the real world have known for some time that credit has practically frozen- investments are way down, etc. Have they been that asleep at the wheel? When is the media going to ask some hard questions and demand some real facts- why the urgency now?

notafool,

Reality seems to have little to do with your assessment of the situation. Do Republicans take responsibility for ANYTHING??? Like even the basic tenants of their financial philosophy of deregulation?? Somehow it is the Greedy Deregulating Democrats that did this.

This whole finacial mess results from the left gaming the system to get what they can't get at the ballot box.

No sane voter would agree to making loans to people with abysmal credit histories.....so Barney Franks and his fellow nuts used stealth government regulation to get it done.

The 1 Trillion Dollar Bailout is about what the taxes would have been if it had been done above board.

This is a small taste of what Obama will give you. Just wait for the "tax cut" for 95% of "Americans". Ever wonder why they don't say "for 95% of tax payers". Because 40% of taxpayers PAY NO TAXES. So the ephemeral tax cut is just another income redistribution scheme called something else to trick you, because you WOULD NEVER VOTE FOR IT.

And then, wait for "Cap and Trade".
And then, wait for American aid to the world.
And then.....and then....and then.

By the way, 1 Trillion is the total amount of Federal Taxes collected in 1 year. So the price tag, for those of you who actually pay taxes, will be a year's taxes plus interest. Sweet, no?

PaulWI,

Let me update you:

Obama's speech included seven specific stipulations for any bailout that happens.

1.) No blank check: Americans are going to be on the hook for almost $1,000,000,000,000. It's taxation without representation to just write blank checks without being accountable to taxpayers.

2.) Taxpayer money should not be paid to reward CEOs. Period.

3.) Taxpayers are incurring a great amount of cost and risk. The investments should be protected, and they should be able to eventually recoup the losses.

4.) THERE MUST BE A PLAN TO HELP HOMEOWNERS STAY IN THEIR HOME.

5.) Obama pointed out that this is a global crisis, and that other nations need to step in to help secure the financial market.

6.) REGULATE. REGULATE. REGULATE.

7.) This plan must work for Main Street, not just Wall Street.

I just don't know if I agree with Obama's answer to the $700B bailout. Here's the quote from this morning; "um, ah, um, well, ok, um, McCain, um, ah, well, dah! I know some of you think it was really clear but I just don't know.

What's really motivating Paulson's push for a quick new deal for the banks?

We need some answers!

Obama/Biden 08!

Why in god's name is anyone pretending that this money is going to Washington, when it is obviously going to Wall Street? The media is acting like there is a bunch of value that just "dissappeared", when the reality is that it was stolen!

Obama has really lacked any leadership during this economic crisis. I'm fearful this is how he would act if he were president.

Has everyone noticed that the republicans are so ashamed of their record since 2000 that you don't see Bush & Cheney ever mentioned here or lauded by them as having a superior administration.

pretty revealing...
mission accomplished

Captain America:
re: 'how did Obama, the community organizer, become one of the upper 5% in US wage earners?

he's smart enough to write books that people are interested in, and will pay to read... simple economics... you Republicans say you know about that 'stuff'.

A.L. McLeod,
The guy in charge, George Bush, signed off on any and all barrels of pork. He himself appointed all the chief money men in government. He totally and completely destroyed the Clinton surplus all the while. Now what party is this fellow Bush with? What party are you with? Hmmm, that's about what I figured.

Ron,
This has nothing to do with Carter and Clinton. The Contract on America crew, led by one Newt Gingrich, with a Republican majority in both congressional chambers, rammed through the remainder of de-regulation, beyond the damage that Reagan did. They opened the gateways for standard banking institutions to get into other sectors, including high risk investments. Bloggers, please try to recall at least five minutes of history before you speak.

This is one time I am with Gingrich all the way. Democrats need to be vigilant and not be scared into doing something stupid. The Bush administration is corrupt and that includes all the republicans who have followed like sheep and done nothing else. Gingrich is speaking with no political motive that he would have had if he were still in Congress. I want Congress to have oversight and act with all the authority they have to protect us.

Democrats have been whining recently over the details of the government bailout. The certainly rushed to the rescue of Chrysler in the 1970's..but when the President acts swiftly and responsibly to save our nation from economoc disaster (largely due to years and years of liberal pork barrel spending which has now come full circle to hit us hard), the democrats whine like little children. Their Lilliputian minds (notably Obama and Biden's) just do not grasp the enormity of the disaster and the fact They helped bring it about! Cut the deal..hammer out the details later..America cannot go down because of Socialist Stonewalling!!

D.H.,
You would like to see the taxpayers bail out both Wall Street and Main Street? We have met the enemy and they is us. Tell me exactly who would be the winners and who would be the losers in this zero sum game?

Clifton,
I doubt seriously that a) Gingrich supports Obama's point of view, and b) that Obama even has a valid point of view. If so, why wasn't Obama vigorously addressing this issue, and engaging in his prophecies even two weeks ago? After all he claims to have predicted the Iraq debacle when he was in the state legislature, right? Has he lost his Mr. Prediction skills of late? LET'S BE CLEAR: Both Obama and McCain were silent in both magnitude and scope of this mess. Is anybody in charge? Fact is, Sarah Palin may be the only one that is trustworthy because she hasn't been tainted as much.