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[QUOTE=Hawker]It's not only Bush's fault. Obama voted for it and the democrats are pushing to bail out automakers as well.
Seriously, quit using Bush as a scapegoat.[/QUOTE]
while the passage of the bill with limited governmental oversight and control is part of the issue, it is the treasury dept that is handing the funds out. and in a manner totally unlike what they told congress they would use it for.
[QUOTE=boozehound]while the passage of the bill with limited governmental oversight and control is part of the issue, it is the treasury dept that is handing the funds out. and in a manner totally unlike what they told congress they would use it for.[/QUOTE]
It was also the treasury dept. and federal reserve and the bush admin. that pushed HARD for this package, essentially presenting a "Chicken Little" scenario to the Congress, presenting a financial "9/11" scenario that was complete BS, just like weapons of mass destruction. They should be tried and convicted for misleading Congress (as usual).
I wonder if Wall Street will throw some of that bail money in ISH's direction. Fix this bandwidth crap.
[QUOTE=boozehound]while the passage of the bill with limited governmental oversight and control is part of the issue, it is the treasury dept that is handing the funds out. and in a manner totally unlike what they told congress they would use it for.[/QUOTE]
Funny...this situation is almost carbon copy of the MSC renovation bs.
[QUOTE=bagelred]It was also the treasury dept. and federal reserve and the bush admin. that pushed HARD for this package, essentially presenting a "Chicken Little" scenario to the Congress, presenting a financial "9/11" scenario that was complete BS, just like weapons of mass destruction. They should be tried and convicted for misleading Congress (as usual).[/QUOTE]
Congress should be blamed for being naive and actually falling for bush's words. They shouldv'e learned by now.
Blame goes on the Yea votes and on Bush.
[QUOTE=XxNeXuSxX]Ron Paul warned about how this will only hurt the economy and you had honest economists warning people against passing it. Big gobernment morons continue to think the government can "fix" the economy by controlling it more and spending money we don't have.
Think what that $700 billion could have gone to!
I know what I would have used it for: paying off the debt. Wait, we actually never had the money, that means we just did the exact opposite... meaning we now have to pay MORE money next year on the interest of the national debt.
Great![/QUOTE]
I just have one small argument with this statement: Is this really the government controlling the economy? It looks to me like the government has basically taken 850 billion it didn't have and is now in the process of handing that money to a bunch of businessmen that are either dishonest or incompetent, and in many cases, both. Is that the same thing as controlling the economy? To me, it's more like giving a thousand bucks to a crackhead with the "advice" that he spend the money on food and and work clothes. Is an enabler in control of the junkie they're funding?
The Bailout was a scam. It's official. We suspected it, but now we know for sure.
Bait and Switch.
[url]http://www.usnews.com/usnews/politics/bulletin/bulletin_081113.htm[/url]
[QUOTE=bagelred]The more this whole Financial Bailout proposal has sunk in, and people have had time to think about it, some people are saying its a scam.
Doesn't it seem that way? Anything Bush and Cheney tell us is an emergency should be quickly second guessed. Doesn't the fact that Bush and Cheney are pushing this Bailout heavily cause us hesitation?
That's a Republican, BTW...
This whole situation is sketchy.....[/QUOTE]
What's greater is how I predicted the bailouts extended; expanded; and furthered under the next president.
Seems like I had all these lucky guesses for ISH:lol
Just about everything predicted in this thread happened. Sad.
[QUOTE=lilbill]Just about everything predicted in this thread happened. Sad.[/QUOTE]
im not reading the whole thing but if u summarize them i will. i doubt everything happened tho like people are yappping, without twists as usual :rolleyes:
At the very least, I believe the Bailout money that alleviated some banks from financial hardship helped avert housing problems that would've affected many more middle to low class people. Had JP Morgan or Bank of America failed to the point of liquidation, it could have gotten ugly for a lot of families living in houses with greatly diminished values and an ever-skyrocketing mortgage balance.
And from what I've read, most of the initial TARP money has been paid back to the govt.