Yahoo Answers is shutting down on May 4th, 2021 (Eastern Time) and beginning April 20th, 2021 (Eastern Time) the Yahoo Answers website will be in read-only mode. There will be no changes to other Yahoo properties or services, or your Yahoo account. You can find more information about the Yahoo Answers shutdown and how to download your data on this help page.

Trending News

Promoted
miamidot
miamidot asked in Politics & GovernmentOther - Politics & Government · 1 decade ago

$700B: Which part of NO do y'all not understand?

Dear Congress,

All over Yahoo and You Tube, Americans are saying NO.

NO $700B bailout but you guys seem to be going ahead with it. Is Congress acting as usual when the American people are saying NO but y'all simply disregard us and went to war.

Americans are not idiots and recognises a bad deal when we see it. Do you mean to say that Paulson and Bernanke are experts and Americans do not know what we want?

Even if Americans are idiots, we should be allowed to be idiots so listen to us! Is this a democracy or Fascist regime? The answer is NO, not even with safeguards. Yes to $700B but not on the banks.

Having done with the ranting, here are my questions:

1. Is anybody planning to march on Capitol Hill or their local city square to demonstrate against this bad deal?

2. How can we make Congress listen to NO? I have already written to Tom Allen.

3. Is there anyone who is saying YES. I mean many are saying YES to $700B for homeowners but NO to the banks. Are anyone out there who is saying YES?

4. Bernanke and Paulson simply made a sweeping statement "the alternative would be more costly" but never never detailed "how it would be costly". Anybody thinks they have a solid reason on "costly"?

Update:

Tom Allen is US Rep for Maine district 1

Update 2:

The complete Question 3 is actually:

Is there anyone who is saying YES to $700B for the banks? Not just YES, but YES to the banks.

2 Answers

Relevance
  • Jbushkey
    1 decade ago
    Favorite Answer

    THIS IS GOING TO BE THE LARGEST ROBBERY IN THE HISTORY OF THE WORLD!!! Look at some of the wording they are trying to slip in.

    "Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency."

    • The Treasury Secretary is authorized to purchase up to $700 billion in mortgage-related assets AT ANY ONE TIME. That means $700 billion is only the very beginning of what will hit us.

    We need to do whatever it takes to stop this. Let's have a general strike and shut the country down for a day or two. That would get their attention.

    Source(s): http://news.goldseek.com/RonPaul/1222274195.php
  • Anonymous
    1 decade ago

    the actual figure is about a trillion

Still have questions? Get your answers by asking now.