The Rescue Plan is a REALLY Bad Idea

except the S&L bailout has worked and money was made on the deal.

PLEASE SHOW THE STORY OF MCCAIN SAYING PRESIDENT BUSH SHOULD IGNORE CONGRESS AND WITH HIS PEN SPEND THE MONEY WITHOUT CONGRESSIONAL APPROVAL DOES HE REALLY THINK THE PRESIDENT CAN DO THAT MY 10 YEAR OLD IS SMARTER THEN HIM GOD HELP US IF HE IS ELECTED

Thank you Mr. Rogers. I've been saying the same thing since the bailout came up. Yes, it will hurt, A LOT! I'm one of those people that the credit crunch is going to cause a problem for. I need to purchase a car NOW and my credit history isn't strong enough yet (re-establishing post-divorce). Still, I'd rather the market do what it's supposed to do. The bad business people fail and the good ones succeed.

I wonder how much time it took the brain trust in the Senate to come up with the idea of increasing the FDIC limit to $250,000. How many low income citizens and middle class workers making less than a $100,000 have money sitting in a low interest bank account including money markets. Just another ploy to make us think they have really accomplished something besides bailing out the fat cats. We just gave money to General Motors. I wonder how much they will get for their high flying mortgagee business.

Well, yes? No! History has shown very well that the market cannot clean itself out - just think of 1929.

Any bailout plan stinks. If it smells funny never buy into it. Wall street is just a bunch of addicts hooked on greed and arrognace. All Washington DC including lobbyist - you will forever regret if you pass this bill. The people will never let you forget the evil you are perpetrating on us the innocent beccause of your own mishandeling and deregulation.

No one is happy to swallow a bitter bill, but when need be, we are forced to
do so.

The commentary comparing this current bailout plan with the 1980s S&L plan is erroneous. The market was allowed to work in the 1980s in that the federal government went in after the S&Ls went out-of-business and liquidated the defunct S&Ls' assets in a timed sale rather than a one-time, grand auction. The current bailout plan creates a government-operated market for the securitized mortgage loans, for which there isn't a market at the moment, by acting as a buyer for these "bad" securities.

After watching these four candidates talk and react to a variety of situations and questions, my basic thought is "Not one of these people is qualified to run a small to medium corporation." Put into a competitive job market, none of them could get a job as a CEO of any business that competes in today's market. YET, we are about to elect two of them to the highest office in the land to lead the world's most powerful nation. GOOD GRIEF....Perhaps Richard Pryor had it right in his movie Brewster's Millions, when he, as a lark started the "NONE OF THE ABOVE", movement. Give us someone who at least has some experience and common sense. This bailout will not work because it just simply cannot. Bad money after bad........Those who vote for this should not be re elected.

Free market forces do work, eventually, and with very painful consequences. If free market forces are left alone on this, it will sort itself out. It will take a deep recession, possibly a depression, and will take years to do so. Most Americans don't want that. The danger of the bailout is that the next opportunity to make quick cash while destroying the economy will be exploited to the fullest because the ones who gain will depend on the government to step in when free market forces go too far.

Thank you Jim Rogers. I know this will all hurt for a while but if we just keep putting band-aids over a tumor the tumor will eventually kill us. I would rather see a loan program where money would be paid back over time with interest. I could live with that.

Having faith in the people who steered the ship into this perfect economic storm is difficult to grasp. But what are we to do? .................

I am a retired school teacher and as hard as it seems, I thinking suffering through the depression that will most surely occur if this "rescue" plan is not passed will in the long run be far better for our economy than what happens if it is passed.

Right now we still own our country. I am not sure we will after this buy out is over. I'm afraid we might belong to China.

"Right now we still own our country."

I hope you are right about that, Susan. I guess that depends on who "we" are.

Consider: In our perpetual "war economy" half of every tax dollar now goes to the Pentagon or "defense-related" programs. Social Security and Medicare are failing. The US infrastructure has been allowed to disintegrate. Now add this monstrous "bailout". They are already spending our grandchildren's money.

It is hard not to see this as the deliberate ruination of the US. But to what end?