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Who still feels the bailout is not in THEIR best interest?

I mean, why can't the average American seem to comprehend that the rescue plan is NOT a Wall Street bailout, but a larger rescue of the general economy that effects us all?

If you think for a second that not passing a plan is somehow punishing Wall Street and has no effect on you whatsoever, you are sadly mistaken. As bad as you may think the economy has been for you lately, aren't you cutting off your nose to spite your face?

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  • 1 decade ago
    Favorite Answer

    I am vehemently against this bailout, not because it suppossedly helps Wall Street, but because it invests in the national government tremendous socialist powers over the economy, gives large monetary gifts to crackpot groups like ACORN, does not explain WHY the amount needed is $700 billion, and puts the very people who refused to admit there was a problem, in charge!

    Every American should be against this anti-free market bill. Will we be hurt if it doesn't pass? Most likely. Will we be hurt if it does pass? Probably. A Free Market can go up and down. It is not the job of government to step in when the market self-corrects itself.

    To give you an idea how disgusted I am with this action by Congress and the President, I will tell you this: Since 9/11 I have been an avid supporter of George Bush. I supported him with Afghanistan, with Iraq, with Guantonomo, with FISA, etc. I have defended him constantly against the criticisms of my family and friends. BUT NOT ANYMORE! The moment Bush took sides in this and said we need to do something (how about nothing!), I turned my back and washed my hands of him.

  • 1 decade ago

    ok please, it's not about punishing wall street, it about a free market and all that goes with it. these predatory loan officers, and banks have done it to themselves. why should we bail them out when all they have to do is accept the loss and hold its executives responsible not hijack the american taxpayer.

    even though the government instituted the tax benefits for these companies o open up it's lending power to the lower income individual the government did not dictate to those companies the terms they offered.

    now these companies are yielding the sour fruit of there bad business practices and wants the government to institute a bail out (or investment package what ever you call it) by using taxpayers money with out even a chance that the money will be returned buy those companies who take the money from the tax payer.

    no matter how you sweeten this deal you are still giving away 700 billion dollars at a time when the american tax payer can not afford it.

    remember bush's words we wont get all the money back so why even give it away.

    now if you let these companies fail as they should and then use the money that you still have to buy up the assets not only will the american taxpayer get all of its money back but it might even get a dividend or two, what is wrong with that.

    the benefit by infusing 700 billion dallars into the failing "credit" system is none in the long run the system is going to fail anyways it just wont happen as soon and because of tht reason alone it should happen now so that we can come back quicker.

    as far as cutting of our nose's to spite our face's well its better to cut it of with a scaple other than have i slowly torn off with a pair of pliers.

    the healing proccess is much shorter by using the scaple and the scare might not even be visible.

    so no i will not support the bail out and i will tighten my belt put on my shoes and work as long as i have a job and if my job falls victom to this "crisis" so be it, i will put on my walking shoes and find other work, as i am sure anyone else will do.

    We need to reform the system, both politically and economicaly, I know I am not alone with the idea.

  • Bryan
    Lv 7
    1 decade ago

    Actually it is you who appears not to understand. You have bought the fear tactic hook line and sinker. The general economy is fine. The mortgage industry is in crises, but it will recover. I am not interested in punishing anybody. I just believe in the free market and it's ability to function properly except when government gets involved. This bailout plan will be the most disastrous course ever undertaken economically in this country if passed. You are free to believe otherwise, but a majority of Americans disagree with you.

    My economy is just fine. My job is stable. My income is stable. My mortgage is stable and I have received no less than fifteen offers of new or expanded credit in the last week. As for the country, consumer confidence is high. The GDP is growing. There has been no run on the banks. Wall Street is recovering. Very simply this bailout is not necessary. Let those entities that are destined to fail do so. Their debt will either be bought by other companies who are more solvent, or their assets will be sold at auction. Either way they will be replaced by other companies, not the government. Government intervention in the free market never produces acceptable. sustainable results and is in fact the root cause of the current crises. How anyone in their right mind can believe that more of the same failed policy is suddenly going to save us is beyond me.

  • 1 decade ago

    It depends on how it it done. To just believe a bailout will solve anything is wrong, Imagine you are bailing out a boat filled with water & a huge hole...this is what this is. If you trust the repubicans to do the right thing years later we will end up like we have in Iraq. They are just trying to get their buddies richer by putting fear on us & pulling a fast one. You don't understand this is not just $700 billion that is just an installment & that alone woud cost each person $2300 & I mean each baby included. So you have to understand all the details & not just think you are seeing the whole picture but really see it.

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  • TG
    Lv 6
    1 decade ago

    I still feel its not in my best interest or in the best interest of America.

    There are other plans and other courses we can take that do not put the pressure on the taxpayers to fix this mess. There are plans that put the pressure on Wall Street to clean this up. They jumped straight to this bailout when, from what I have read, there are much better plans that are being discussed by economists

    When Frank and Pelosi are the ones pushing hard to pass this...I have reason to question it.

  • 1 decade ago

    Here it is for you in a nutshell:

    The people in office, GW and cronies, have all but erased the middle class, which is the back bone of this country. So without the backbone, the economy is going down hill. Middle class folks are lower class and can no longer pay their mortgages. So all the financial folks are in a bind because all their shady lending/gambling, didnt pay off. These politicians are only trying to bail them out because they have money tied up in it, and they want to protect their personal intrests before they get booted out of office.

    I dont operate off of credit! I use my personal dollars. And another thing, before all this home lending and crap people could actually afford houses. Everyone wants to spend money they dont have, so since it's not coming out of their pockets, they dont care how much the house is worth compared to what they buy it for. Sorry guys, but nothing that can be built in 3 months and is mainly made out of sheet rock and particle board is worth 350K.

    So yes I cant wait til the collapse

  • 1 decade ago

    Not.

    They say "It may become more difficult to get credit and loans". Well, isn't that what created this mess? Gee, maybe if the taxpayers step up & buy all of those bad loans, that will clean up the toxic debt on their balance sheets so they can start making more bad loans. See you in about 5 years.

    Sometimes you have to let a forest burn to avoid a much larger forest fire later on.

  • Its all about credit, right? Thats what they tell us...Credit is not what solves problems, it created this one! Living in the future instead of within ones means is the answer...Even in big business...Before NAFTA, and tax credits for hiring employees outside the US, maybe credit to meet payroll and operating cost worked...But now, who knows what the future holds in this global business wotld...We do this bail-out, the same thing will happen later...Then what? Its time to face reality and live within our means...Not as much luxury, but still plenty of necessities...You have to think about the future in long terms, not just bail me out today?!

  • 1 decade ago

    It's another method for the government to manipulate the market.

  • 1 decade ago

    i'd like to be presented with some alternatives before we cut such a huge check...

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