The Wall Street Bailout

[flmagi]

Does anyone else feel they should slow down on this bail out thing? I really don't like that they're trying to push this threw so fast. Are the tax payers even privy to the details of the Bail-out?   I'd like to see a 6 month moratorium on mortgage foreclosures included.
Is the rush on this making anyone else nervous?

[allaboutmary]

I think I'm glad the repub's blocked it.  The more I hear about this the more I don't think it's a good idea.  They say even with it we are headed for very hard times. I think if it had more to help the people on Mainstreet , I would go for it.

[VicUser]

The vote against the measure was 228 to 205, with 133 Republicans joining 95 Democrats in opposition. The bill was backed by 140 Democrats and 65 Republicans.

[LateAugust]

They cannot vote again until at least Thursday.  Personally, this scares to me.  For every economic expert that says we should pass the bail out there is another that says it is not necessary.  I have never been so very confused.  

Glenn Beck believes we need a bailout, just not this paticualor one.  So specifically which modifications are needed?  He also just stated he is extremely convinced we are headed for another depression.  

I can tell you as someone that has worked my entire life, never took one penny from the government, nor had parents with wealth, have been in the highest tax bracket most of my working life, didn't have a "golden parachute", did not gamble on the stock market, invested my life savings in the most conservative manner that would last the rest of my life quite comfortably and leave a modest inheritance for my children, I am slowly loosing what I worked so hard for all my life.  The ramifications are far reaching beyond just Wall Street.

Very frightening times, and no-one has the 100% correct answer, but I do not believe the House  can sit and do nothing.  

We already are so indebted to China, I am not sure most people truly understand or know how far in debt America is and has been.  Action must be taken immediately.

[flmagi]

Ok, so as of today they voted it down.  What about Wednesday or Thursday?  If you are against this bailout, you need to call your Senator and congressman. You can go to this web site and find their number or e-mail. There are also tons of sites out there that have letters already filled out, you just enter your name etc.
http://track.nocashfortrash.org/browse   .........to find your state leaders
http://www.nowallstreetbailout.com/view_all.php  .......to sign no bail out letter

We, the taxpayers have to get something out of any deal they make...suspend interest on home loans for a while or a moritorium on forclosures...something. AND NONE OF THE BAIL OUT MONEY INTO THE WALL STREET BIG WIGS POCKETS!!!!!

[jollyman069]

you are so correct on all you said

[HelpinUtah]

You are so right.  Glenn is a conservative like me, but at least he's willing to say it as it is whether you are a conservative or a liberal.  That's why I like him too.  He's different than other radio talk shows because he is not bias.  He just says what he believes and tells you it is just his opinion.  I have to say he's usually right on with what's happening or what will happen.

As for the bailout, I'm glad the bill failed (was a cloe vote) and a little nervous too.  I believe it's the right thing, but at the same time, I know that it's not going to make anything better by not doing it either.  We're in for some difficult times ahead, so hang on with all you've got.  Whatever we do, we cannot run out to our banks and take out our money, that will only cause things to get worse - look what happened during the Great Depression when people did that.  I'm hopeful that other companies will come in an pick up the slack and allow capitalism to work!

These are scary times!  

[jollyman069]

glenn beck rocks... he doesnt care what sidew of the aisle u are from he just tells it like it is i watch him every evening

[allaboutmary]

Doesn't look like it's going through.  I think I'm happy !

Nope they just said the bill has failed .....for now. !

[HelpinUtah]

Good for you Magi.  I agree. If the big wigs get a break so should the little guy.  This is America!!!

[flmagi]

I also e-mailed my Senator, Congressman and Obama, also signed a petition, requesting either a delay in this bail-out or a no vote. And I did add I wanted to see a temporary moratorium on home forclosures added to the deal. If the big wigs can get a break, so should the tax payers in trouble.

[HelpinUtah]

Whether you are a Glenn Beck fan or not, please go to his website and read his discussions with some prominent people about the bailout.  It's interesting.  Some are against, some are for it.  I'm against it, but this is interesting reading and shows different viewpoints.

http://www.glennbeck.com/

[HelpinUtah]

Jollyman:
I agree getting money from China all along has been absolutely stupid!!! What were our politicians thinking when they did that?  China has instructed their banks to NOT lend to the United States anymore.  They also mentioned that this will eventually lead to a global currency.  

[jollyman069]

there is no way this should pass!!! if they would seize al the assets of the ceo's, and other company officials of these companies first i would feel much better, and getting the money from china is just plain crazy.. i feel we the people are being sold a bill of no goods

[HelpinUtah]

it scares the hell out of me!!!  The problem is that they can't promise that it will fix our problems.  My suggestion is NO bailout and we take our chances.  Why add another $700 billion dollars to the deficit?  Is it really going to help?  I think it's only going to stall things for awhile and then it'll be worse later on instead of better.  At least those are my opinions.  I have asked my representatives and senators to vote against the bailout.  But, they probably will vote for it anyway!!!

[allaboutmary]

If your mortgage company is one that is being bailed out , you might be able to have your mortgage adjusted.

[allaboutmary]

financialservices.house.gov  .........it's about 110 pages and probably not understandable for most people.    From what I have heard the protection against golden parachutes for CEO's is flimsy and easy to get around.  Rudy Gulliani allready has lobbiests trying to get his firm to control some of the disbursment of the money.  Smelling pretty fishy allready.  They will be starting with 250 billion and in two months they will add more unless congress puts the stop to it.