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| The Stocks 700 billion dollar bailout. | |
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| Topic Started: Sep 25 2008, 04:40 PM (883 Views) | |
| The Departed | Sep 25 2008, 04:40 PM Post #1 |
^^Give back my watch dammit!
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What's everyone's take on the Government wanting to bail out the stock market by blowing 700 billion of our tax payer dollars for it? We have that kind of money to bail them out with, I mean the United States is pretty sunk as is in terms of finances but we could manage. Thing is, it's not the governments money, it's taxes and money we're paying for the well being of our society that will be funded to the stocks, whose really benefiting here? And who will really be hurting if Paulsen and Bush get this passed? I'm saying the public is going to be screwed financially if this passes. |
Outer Heaven Recruitment Page V2 Conscience is a killer
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| dJdC | Sep 25 2008, 07:05 PM Post #2 |
TEAM SLUG
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Things are bad now bro. I know a lot of people don't think so, but they are. There are a lot of foreclosures in my neighborhood and a lot of businesses are closing down. I'm not saying this "bail out" is a great idea. But something needs to be done. But I feel that the people that made millions putting us in this predicament, should have there millions taken away. There are 231 township employees (my town)making well over $100,000 a year. Most of these guys do not deserve or qualify to make this much money. My friend who works for the state water company has been working for only 2 years, he is making 85,000 year. He has no college experience or any certifications. That is ridiculous. There are 100s of people just like him and 100s upon 100s making even more. There are so many ways to cut spending and keep taxes from increasing over 2000 right off the bat. Edited by dJdC, Sep 25 2008, 07:18 PM.
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| Jiro | Sep 25 2008, 07:52 PM Post #3 |
It's like a koala bear crapped a rainbow in my brain!
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I think it's a horrible idea. And it's not Bush's fault. It's everyone's fault. Because our Government thinks everyone has a 'right' to a home they made banks and financial departments make loans to people they felt would not pay them back...and look where it got us. Yeah I think everyone has a right to a home.....if they work for it that is. Corporate Taxes need to be taken away and we need to monitor this 'bail-out' and find a good plan for it so it doesn't **** anyone up. The economy is a rubber band...it will bounce back and In my opinion trying to force it back is only weakening us. It's called market evolution. The big guys fall making way for the smaller companies to edge on out. Places like Wal-Mart need to be broken up as well as Publix Supermarket. They are ruining our economy by making competition non-existent. |
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| skywalker | Sep 25 2008, 08:23 PM Post #4 |
Light Saber trumps anything
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Exactly. Wal-mart is crushing smaller business' right now. They sell everthing so cheap which is good for the consumer but when it puts people out of a job and shuts down all the other smaller guys it kills the economy. I dont know why they think they can just throw money at this problem and expect it to go away. |
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| Samuraisedge18 | Sep 25 2008, 10:32 PM Post #5 |
Lunatic Wizard
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today everyone met and agreed on a solution. they're saying that if they don't do something they'll be no money for loans for anyone. it's not bush's fault so i don't know why your mentioning him but the plan would leave a whole lot of freedom the paulson. wait. apparently at 4pm the shit hit the fan at the meeting and things went bad. Edited by Samuraisedge18, Sep 26 2008, 01:02 AM.
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| The Protagonist | Sep 26 2008, 01:18 PM Post #6 |
The Ocelot Commander
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Why not let the companies to agree a sum of money, instead of letting the congress to take the money of the tax payers? They say it's going to affect us here in Europe to, but here in Sweden they say that they are prepared if something similar would ever happen. Edited by The Protagonist, Sep 26 2008, 01:23 PM.
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| The Departed | Sep 26 2008, 03:11 PM Post #7 |
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^^Give back my watch dammit!
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Well apparently the government has now seized and shut down Washington Mutual from this. Shit really is hitting the fan. |
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| dJdC | Sep 26 2008, 03:32 PM Post #8 |
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TEAM SLUG
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Yea it is and I laugh now because when I made that "Are you worried about the state of the economy?" topic, everyone was like "Na, things aren't that bad.". I knew this was going to happen. |
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| kappy0405 | Sep 27 2008, 12:58 AM Post #9 |
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Light Infantry
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Its funny that nobody is mentioning the details of the bailout plan. It states that "The Secretary's authority to purchase mortgage related assets under this Act shall be limited to $700,000,000,000 outstanding at any one time". If I'm interpreting that right, it means they can do 700bills in bailouts today, decide its not enough and throw away another 700bills the next day if they want. And ONE man gets all this power. Its a ridiculous idea imo. If they wanted to spend 700 billion, they could divide it between the 150,000 taxpayers and instantly improve our economy in a matter of hours. Im sick of this 'trickle down' theory that has been proven ineffective yet is still being insisted upon simply because it gets all their buddies rich, and in the end them as well. Another thing I dont understand is that Congress predicted this collapse back in March. Why didnt they come up with a solution then? IMHO, and Im gonna get labeled as nutcase, but this whole thing is designed to push the North American Union that they support. Its just another step towards a Global economy, and ultimately a world government that the Bush's and other world leaders have been raving about for centuries. |
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| wraith shadow | Sep 27 2008, 02:27 AM Post #10 |
Master of Karate and Friendship.
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It's not gonna turn out good. Too many people are not buying homes and prices are gonna go up and the dollar, down. Not pretty.Not at all. |
I'm the kind of guy who laughs at the funeral CREDIT TO CODEMASTER  I CANT SPEL | |
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| BigBoss14 | Sep 27 2008, 05:25 AM Post #11 |
Hungry people don't stay hungry for long.
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What I seem to not understand is why would the government want to give more money to companies that already screwed up in the first place. It just seems like this is just the powerful giving money to the rich. |
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| OuterJaccob | Sep 27 2008, 06:36 AM Post #12 |
loves you
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The government is practically owned by corporations, so long as people keep voting for the Republicans and the Democrats this type of shit will be happening forever. Clinton was also a bitch to companies, I'd be very surprised if McCain/Obama weren't also. America, my dear friend, when will you learn? |
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| Soriddo Suneku | Sep 27 2008, 08:12 AM Post #13 |
Because J. Moses Browning didn't invent a .46
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Huh...guess I'll never have to pay those bastards for all the overdraft fees they so very self-righteously stamped on my account. —- **ponders his response** And that my friends, is a prime example of short sighted thinking. Subsequently why I will never make a good president. Situation: Banks are getting closed. Reaction: Cool. No debts for me to pay back. |
 "Any nation that draws too great a distinction between its scholars and its warriors will have its thinking done by cowards, and its fighting done by fools." - Thucydides | |
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| The Departed | Sep 27 2008, 11:01 PM Post #14 |
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^^Give back my watch dammit!
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Not true at all unfortunately. To all WaMu's customers and depositers, you will not see any difference in WaMu. You're money will still be safe and accessible, you can still make deposits and withdrawals, and if you have overdraft charges, then they're still right there waiting for you.  Sucks, I know. What has apparently changed is the CEO and owner change. They're still going to keep the name WaMu for two more years, after that, then we'll be seeing changes in the banks and names themselves, but our money won't yet be affected. |
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Outer Heaven Recruitment Page V2 Conscience is a killer
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| Sybris | Sep 27 2008, 11:06 PM Post #15 |
Light Infantry
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United States has a monster economy, nothing to fear really. |
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| The Departed | Sep 27 2008, 11:07 PM Post #16 |
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^^Give back my watch dammit!
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How can you seriously say that? Exactly how is our economic situation nothing to worry about? |
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Outer Heaven Recruitment Page V2 Conscience is a killer
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| Soriddo Suneku | Sep 28 2008, 02:36 AM Post #17 |
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Because J. Moses Browning didn't invent a .46
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WAT Very angry face. Bastards charged me like $350 in overdraft fees for a bunch of shit I bought months before they charged me...I'm not gonna pay. |
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"Any nation that draws too great a distinction between its scholars and its warriors will have its thinking done by cowards, and its fighting done by fools." - Thucydides | |
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| The Departed | Sep 28 2008, 02:40 AM Post #18 |
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^^Give back my watch dammit!
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Did you try overdraft refund? They refund a limited amount of your overdraft charge back to you if you're using a WaMu checking account. But you have to actually talk to them about it. And again, that would also involve paying the fines. |
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Outer Heaven Recruitment Page V2 Conscience is a killer
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| kappy0405 | Sep 29 2008, 02:25 AM Post #19 |
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Light Infantry
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yeah, if youre referring to the monsters who have been controlling it for the past century or two. nothing to fear!? lol |
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| BigK | Sep 29 2008, 03:53 AM Post #20 |
"Hahahahahaaaa!! You're as good as DEAD!!"
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You want something to fear? Here. It's official, the bailout has been passed. That said.....fuuuuuuuck.
Edited by BigK, Sep 29 2008, 03:54 AM.
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