Well, it looks like the dumb
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Friday, October 3, 2008
Bailout is law!
Anonymously contributed:
Well, it looks like the dumb *** democratic congress and senate passed the $700B bail-out. How stupid are these people? I don't know if the scale goes that low.
CNN Money
***Warning: please refrain from using expletives. Next time, your post/comment will be deleted.
Well, it looks like the dumb
CNN Money
***Warning: please refrain from using expletives. Next time, your post/comment will be deleted.
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19 comments:
How do you know it is them that are stupid for passing it and not you for thinking that they shouldn't have!?
Yeah, it was heck seeing those Republican titans of probity from Wall Street begging the Dems to pass the bill. The Dems surely must have blackmailed them into it.
republicans have destroyed the economy and now the democrats are going to have clean up the mess. Don't forget who was running this country for eight years. Republicans.
Bankers now control the government. Paulson is now hiring all his buddies, all on our money. Next he starts his spending spree, everyone line up for handouts from the new King.
These people haven't a friggin clue of what it will take to get the American people back in line. If they were smart they would have never bailed these idiot out but would have instead put everyone from the CEO to the real estate agent that knew they were scramming the people in prison.
Now is the time to raise the interest rate on mortgages to be 14 -18% so only a few who could qualify can buy home. By doing so keeps the price of homes in check and more realistic.
Then the government needs to call in all credit card debt and cancel the associated cards that got these people where they are, disallowing any further credit until these people are out of debt entirely.
The American people need to learn how to pay cash for their needs. Note I said needs not desires which lead to living beyond you means. This ability to pay over time is what's gotten the America where they are today.
Of course we had the aid of the crooks who got rich off the scams and are now getting golden hand shakes and million dollar retirement plans while the workers work 10-15 more years or until death in hopes to have a life someday.
Until these tactics are employed the economy will continue to go in the toilet and we'll have another repeat of this in ten year or so.
Oh and by the way. What is it about NO MORE TAXES that you can't understand. When are you people going to stand up for what's right. Fools.
For all the Democrats out there - as always the Governmet is coming to your rescue. For the Republicans, it's been proven that we the american people are not capable of making our own decisions and need government oversite.
The biggest contributers to our present economy was the banks who loaned money to people who under normal circumstances would not be even considered for a Discover Card. Both sides are losers . . .
Let's cut to the quick and get to the real reason for this massive bailout. Foreigners have been buying lots of America's toxic securities over the last few years. They are now demanding behind closed doors that they won't be stiffed. If they are, they'll stop all further investments in US Treasuries and GSE bonds. Thus, the taxpayers must now pony-up and make good on any losses. We have no choice in this matter. It's a Tony Soprano moment and we have just been handed an offer we can't refuse.
Shhhhh! Keep quiet and don't tell anyone, but America has just been defeated, at least on the world's financial playing field. This bailout was a big white flag.
Make no doubt this was a Republican bailout and Paulson is GW crony. They came up with this they own it!
Its just more Reaganomics at its best. Don't worry it will trickle down to the next few generations of the middle class.
October 4, 2008 4:04 PM
Well at least there's one person out here that has a brain, oh sorry there are two. Your post and October 4, 2008 12:53 PM
These rest just have an agenda that pro democrat which by the way are the political party for higher taxes, give aid to anyone who needs it at the tax payers expense and have their hand out saying , where's mind. Losers. I'm voting for McCain because I sure as he-- don't want Joe Biden the most liberal anti-gun fool as president. As he said very clearly in his last take," I will be by Obama's side through EVERY decision process". Knowing that Obama views Biden as the Godfather and will follow this clowns lead anywhere Biden decide to take the country, guess who rally will be President. You people that are voting for Obama obviously don't think unless of course your plan is the same as Hillary mentioned just before she dropped out of the race. She too was planning a new means of achieving her desires and goal.
October 4, 2008 4:04 PM
You forgot to mention this. It was the democrats who mandated that the banks give loans to the less fortunate so they could buy a home. These loans were known as NINANJ ( no income, no assets, no job ) loans. So what did the democrats cause. Lets lay this out.
1) The banks did what they were directed to do. The put a bunch of people who couldn't afford the time of day into $400K home
2) Foreclosures and defaults occur across the nation and bring the economy to its knees
3) They passed the $810B bailout package that now does this:
- We're going to allow all those folks who signed up for a $400K mortgage to now have they homes reassessed to possible as low as $200K and give them a new loan. Who pays for their screw-up. The working class tax payer. They eat the $200K owed by the owners.
-Now that we're going to raise taxes your lifestyle will go into the toilet for the next 10-14 years, all while the prices of homes go back up. Now remember you're still in your home paying taxes to bail these idiot while those who are still living in that $400K home are making equality and when they sell they will be far ahead of you. So who made them rich. You did. You bought their bad mortgage and let them park their butts on a gold mind while you have stayed right where you are economically. Yes it was you that paid their $200K balance and it was you who took them out of the gutter and put them above you. Yes it was you that allowed this to happen.
And then finally in the end your retirement will not come as soon as you thought. Due to this bail-out ruling you will now have to work for 6-11 more years and maybe you'll live long enough to draw retirement but if you don't worry the Democrats will find a way to give your hard earned cash to another national bred of free loaders who continue to infest our nation in droves.
Oh and don't forget we have a bill coming of about $700B more for the war that the house and senate who are majority Democrats voted for.
Oh and one more minor detail. The bill does not require prison sentences for all those who knowingly talked people into buying these homes on the NINJNA loans. It does not call for the seizure of their assets to be sold at auction and the denial of any and all retirement, benefits, pension or golden hand shake. The very clowns that caused this issue are now walking away with all these benefits and guess who's paying for it. YOU, YOU, YOU.
Now tell me all about Democrats and how good they are. Good for nothing is my conclusion.
It's not $700B it's $810B for their rich buddies on the backs of the middle class tax payer who now will have to work until death. Thanks democratic congress and senate. You truly are patriots. Oh and I think you poll of who will be best for the lab is a joke. How could Obama be good for the lab when he probably doesn't know what it is and knows absolutely nothing about foreign affairs or war readiness.Oh I forgot he'll have Biden by his side on all issues, yeah buddy. I can see the headlines on the first day. "Whitehouse Occupied by Mutt Obama and Jeff Biden" .
Anyone who voices an opinion and at least votes is a patriot. All this other blame about parties is ignorance and in my opinion does not belong on the blog about LLNL.
October 5, 2008 10:27 AM
A classic example of an angry Republican caught with his pants down again.
October 5, 2008 10:27 AM
Lets see. Bailout plan came from a republican president and the republican candidate for president voted for it. A historical note, the mortgage/foreclosure debacle was already ramping up while your republican pals had control of both houses. In fact, it is the reason the democrats won control of both . Hum, I conclude you don't know what you are talking about.
October 5, 2008 10:10 PM
What part of where LLNL gets its money don't you understand? That $810,000,000,000 has got to come from someplace and you can bet that part of it will come in the form of budget cuts to LLNL. Who we put in the Whitehouse is very important to keep the cut to a minimum. Therefore, it is a very important blog topic.
LLNL is a dead horse, beat it all you will. The whitehouse regardless of the party that wins will not help things. You should have tried to get your local congress persons involved sooner, George Bush and the republican party has already sealed the labs fate.
October 6, 2008 10:34 PM
The labs mission has been dead for almost a decade and yet you clowns think that who you put in the Whitehouse is going to save you. It isn't the labs that's important its the country. I will not vote for a silver thong sweet talker that's still wet behind the ears and comes across as kind , gentle and understanding "we'll talk the enemy into peace and cooperation". I want someone who's been around for a long time, knows the ropes and can get the job done. Both parties said every clearly that we are going to remain in the middle east and expand our military insurgency. So much for voting for a candidate that will get us out of the war/s. It looks like the good old USA will continue to sent the young over to die for no reason, so if we are going to do that I want someone who's been in the military and not a non patriot and surely not one with less that Christian beliefs and terrorist ties. Sorry fold, but it's McCain for me all the way.
I heard that the recent stock market dwwnturn was mostly due to mutual fund selling..401ks, IRAs. The early boomers were the first to get in on the housing bubble, and are now the first to get out of the stock market bubble. I see no reason why this trend won't continue. No bailout will stop this boomer retirement trend. If your wondering where all your 401k money went this last week (if you havent checked your 401k lately you are in for a shock), well, it wasnt really money anyway. It is just a stock, trading at what what the traders think it will sell for, nothing else. Cramer called it, he said to get out early last week. Hope some of you listened.
All this democrat/republican talk, well, that doesnt matter at this point. Consumers are broke, economy is slowing. No party has the power to change this.
The Big Crash has finally arrived. DOW 6000 is coming, and after that 5000, 4000, 3000?... let's just say you should be prepared to start selling apples on the sidewalk.
Kiss your TCP1 pension bye-bye. We'll probably be lucky to see 20 cents on the dollar. Only those at the very top of the pyramid will survive this economic storm.
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