Well, gee, that big bailout really is working! (big sarcasm) The Dow is down almost 600 pts right now. (10:40 am ET) I think ’we the people’ got scammed big time on this one!
Dow tanking as I type
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I'm Sheila. In addition to raising 1 husband and 3 teens, I've founded 
Sheila, I think you are jumping the gun with this bail out not working. They haven’t even had the chance to hire a third party management company to dispurse the funds yet. Think about it! 600 billion dollars is ALOT of F’ing money you don’t just start throwing it out there and poof “problem solved” It will take some time for the money to find it’s way to the right places, when it does I think we will start to see some relief. Don’t think I believe this to be the ultimate fix because it’s not. What it will do is buy some time, slowly take the BIG ACHES we have right now and hopefully decrease them to litlle aches and also allow our country to have a little time to figure out how the hell to fix this problem. Hopefully we will see a littlle bipartisan work happening here, if not, well I hate to think what if…
The ecomony is tanking, there’s no question about that. The bill won’t work. It’s not too early to tell. You are ‘banking’ on the government (who failed to regulate in the first place, who buys $800 toilet seats) is going to be able to fix this. Wrong. It’s not going to work, and mark mmy words, this isn’t the last ‘bailout’ we’ll see.
Bernanke announced just hours ago that the economy is in serious trouble. Credit card companies are taking back unused credit from it’s customers. Home equites are doing the same.
The CEO of AIG in 8 years made 1/2 a BILLION with a B dollars, in one weekend AIG spent $450,000 at a weekend SPA….and we’re bailing them out. This is the stupidity of the government to do this. The same government who is going to oversee 700 Billion in bailouts. (oh, plus the 150 Billion in bribes needed to get our congress to actually vote for the 700 billion).
The next great depression is on our doorstep. Stock up on food. The big aches you mention, will become much bigger in the months to follow. Strap yourself in, it’s going to be a bumpy ride.
Well of course there has been mismanagement across the board. Government, Companies and we the people are all to blame for this problem. Without this bailout as much as I think it SUCKS, It was needed. You seem to trust Bernanke’s word well try to put a little trust in some of the brightest minds in the world who say it had to happen. Doesn’t mean it doesn’t suck, it does but we had to slow this situation down. I think (and hope) that in a few weeks we will start to see things improving a bit, remember this was not the end all fix but just a bandage to slow the bleeding.
What would be your answer? Let the economy fall where it will?? They get what they deserve? In a perfect world that would be great and due, but unfortunately as you know we don’t live in a perfect world, so to try to aleviate the pain a little, we do what we must. If this wouldn’t affect the common folk like me and you I would say let em all hang!!! DIE DIE DIE to all you politicians and CEOs but it will impact ME AND YOU way to hard to do that.
Yes, we needed something to be done. But it wasn’t ‘the mushroom cloud’ urgency that Bush claimed. We are seeing now exactly what we would have seen last week when the bill was passed….only now we are 850 Billion more in debt.
My solution would NOT have included helping those who squandered their money, gambled away their shareholders money and paid their CEO’s BILLIONS while the company failed. Nope. If I MADE a mistake like that, I don’t think anyone would bail me out.
And if I had to help those companies above, I would have at the very LEAST figured out the actual WORTH of the company, the actual debt of the company and made a plan of action. They don’t even know IF this will make an impact and to what extent these companies are in the red.
When you plan a household budget, you don’t just go out and buy buy buy…you look at what is in your cupboard and decide what you really need.
To grill all these goofball CEO’s NOW is silly and just infuriates us regular folk.
You don’t just dump any medicine on a wound…you need to have some sense and understanding of what you’re dealing with and how to treat it.
Our markets just closed at another loss of over 500 points, and that is with this bailout. How much longer do you think you could wait?
I’m no proffessional on this subject but I would think that in order to do a full investigation on these companies and to sift through all the bullshit books they have kept, this may have taken quite a long time.
Weeks? Months? Who knows
I truly believe we just don’t have that time to waste. We had to react quickly. You are right though we don’t know the impact it will have. I hope and hope and hope it will help…
By the way have you seen the polls on individual states and where they are leaning? (Rep or Dem) It does look good at this point for Obama..
Don’t you see? It’s not a matter of how long we could have/should have waited. Anyone can clearly see that the market is NOT going as predicted. That is because everyone in the WORLD knows (as their ecomonys are also tanking) that this bailout was not going to help.
All the talk about ‘needing to do this right now’ yadda yadda, was the same line of bull that we’ve been fed for 8 yrs. So we did it and tanked. Still tanking. Will probably continue to tank.
They could have formed a plan that did NOT include actually giving to companies that bled their investors, ripped off their customers and deceived everyone. They KNEW what was happening to their companies. THEY SAID NOTHING!!!! They KNEW that by not saying anything until it was too late, the markets would drop, people would panic and then…..drumroll….the government would HAVE to bail them out or risk financial ruin.
the bailoutwas a ‘bandaid, as you say’ …one of those ‘generic bandaids’…you know, the kind that don’t stick.
The government SHOULD have been investigating this months, no years, ago. A lot of good it’s doing now.
The worst mistake in this was including crooks in the bailout. Giving them the go head and freed up money to do it again. How stupid.
Can you speak Chinese?
Well all I can say is in time one of us will look at the other and say “see I told you so” and I’m sure in the end I will be right because I’m always right!!!lol.. Just ask my wife she will tell ya.
(Ya right)
lol. I hope you are right too!
I guess I’m a lot like you. I thought I was wrong once…but as it turns out, I was mistaken lol. ~ Just ask my husband!~