This could be it.
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So our government has been debating a 700 billion dollar dump of funds into our faltering economy, whose "fundamentals are strong" (can't resist that jab at John McCain, sorry.) The thinking is there is no other choice, as doing nothing could cost over 3 trillion dollars (number pulled out of Paulson's ass as far as I can tell.)
What disturbs me is that there is absolutely no plan b. The government we trust to protect us in times of national crisis could potentially be putting ALL of their (our) eggs in one basket with absolutely no oversight.
Possible outcomes of a failed bailout are truly frightening prospects not just for us but for generations to come.
A Nationalized banking system which starts with an inherited 10.4 trillion dollar debt? (Add the .7 trillion to the already 9.7 trillion we owe around the world)
Think about owing your car payments to your government for a minute. Or your mortgage. Imagine no competition in the single most vital aspect of our economy - banks.
Seriously, where are all you conservatives on this? Are you seriously cool with our government spending $2200 out of every American's pocket on a plan that might not even work by their own admission, and lacks ANY back up plan?
This reaks of our leadership being completely incompetent and incapable of considering alternatives. Somebody say's bailout and it's a yes or no vote instead of a discussion of other possibilities. Fucking losers. -
Its like one guys kneejerk reaction to throw money at the problem when the first banks started going under was just adopted as the ONLY solution. And anyone who isn't willing to just jump on that bandwagon is indecisive and probably a traitor.
I hate the way we run our government.
/okay everyone, get ready to write your $31,939.97 check to the gubmint...
//yes everyone. Every man, woman and child. -
Seriously, Money isn't the answer to everything. I feel like our representatives feel that with enough money, we could solve all the worlds problems.
Sticking with the Office Space introduced theme:
"If you had a $700 billion dollars, what would you do?"
... I'd give it to people who made terrible decisions in hopes that they will make good ones.\
edit: I want monopoly to add a card in either chance or community chest called "Government Buyout". The card states that when you are about to lose, you can collect $5000 from each player still in the game. In the italic quotes it should say, "too big to fail". -
You don't just have to be about to lose the game. You have to be an 8 year old and also threaten to throw a tantrum capable of disrupting the game to an irrecoverable degree.
/have magically used this card when entertaining young-uns.
//perhaps I was teaching them the wrong message? -
More news.
Apparently both sides of the congressional aisle are calling bullshit on this plan. Something is up when the people lobbying you say that there's no time to look at the bill and push for it to be passed ASAP with little to no alteration. -
Hmmm... being pushed to pass a bill with no time to read it... Why does that sound familiar? Did it happen before? hmmm... I wonder how that turned out?
Oh Yeah... IT SUCKED. I'm glad they wised up. Congress isn't supposed to make quick decisions. A large group of people are supposed to talk and argue until only what is necessary and proper is passed through it. -
QUOTE (Governor @ Sep 24 2008, 06:12 PM) <{POST_SNAPBACK}>... they (and probably a lot of Americans) will be fine with it because "at least it's not 700 billion!"
If there is anything I learned from the current crisis it is that people are two things: stupid and greedy. Seriously, why do people take so much money and then act surprised when they are asked to pay it back? If you can't afford something, DON'T buy it. -
Because the bank tells you you can if you only sign here here and here and do you understand the term ARM? So you know what that this interest rate is flexible, so it could go down over time. Also you should be aware of the clause on late payments negating the terms of the contract specified by sections 3.a - 3.c and by accepting this contract you waive all property rights in lieu of part ownership of your NEW HOME!
/biggrin.gif" style="vertical-align:middle" emoid=":D" border="0" alt="biggrin.gif" />
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More on this cunning stunt...
why 700 billion? Surely they thought long and hard about the actual quantity.
Or not:
"It's not based on any particular data point," a Treasury spokeswoman told Forbes.com Tuesday. "We just wanted to choose a really large number."
That's good.
"We should ask for... um... Dana?"
"How about... errrr... a ga... a gazillion dollars?"
"..."
"You're brilliant..." -
I think Bernanke even said that they just want a large sum of cash. Is it just me or does this seem like a scam. Everytime I hear new information, I'm thinking how little thought goes into this whole "bailout" (I put bailout in quotes because it doesn't really do much).
This is price fixing, and price fixing is a terrible, terrible idea. -
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Yikes...it really worries me that more people aren't scared shitless by this.
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Luckily I am already living in the AZ mountains, so I won't have to flee there when things really go into the toilet. In the meantime I intend to continue making as little money as possible, to avoid having a hand in any of this. That $600 check that came in June? Fuckin awesome, boosted my income by 10%. I gotta figure out how to work for canned food, shotgun shells, and gold bars.
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I knew I should have bought gold... Why didn't I listen to myself?
/I love code monkeys. I had to rewatch the E.T. episode recently... awesome. -
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Someone at work sent me this today. http://mccainkeatingfive.com/?p=29
-dan
p.s. This thread needs to lighten up a bit. I give you http://www.theonion.com/content/news/obama..._we_can_message -
I thought most people already knew about the Keating five. For some reason, McCain was allowed to stay. It actually led to him reforming some of the lobby laws. It wasn't until 2000, that he began adhering to the party line.
p.s. I prefer onion articles that insult the mets. -
Here's more good news for those bailout folks!
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