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Because like it or not, their bad decisions are going to come back to bite you personally by the time they cycle around the economy.

I mean, thats econ 101 there. You can say its all their problem all you want, but that doesn't make it true.

Why? Please tell us how banks shifting their debt to us is going to free up the frozen credit markets? Can you? At what price does the government buy these mortgages? Just curious, when was the last time something actually cost the taxpayers what the federal government told us it would cost?
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Now at -57.99. I guess the bump won't start until NEXT week.

See here is the big myth. The guys on Wall Street never wanted this bail out , just the fat cat bankers and bank investers.

All the guru finacial guys on the radio have been screaming about how this is a horrible idea,putting more crushing debt on the American economy right now. In short the bounce is probably not going to happen , in fact , the exact opposite very well may happen..

Clark Howard and Lou Dobbs have been screaming against this bail out..Who to believe you ask?

Lets see Clark Howard or Barney Frank? Gee that is pretty tuff..

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Why? Please tell us how banks shifting their debt to us is going to free up the frozen credit markets? Can you? At what price does the government buy these mortgages? Just curious, when was the last time something actually cost the taxpayers what the federal government told us it would cost?

I'd answer with what should theoretically happen but we both know that you are 100% inevidably just going to say that it isn't going to work and that anything the government does is inherently flawed and going to fail.

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I'd answer with what should theoretically happen but we both know that you are 100% inevidably just going to say that it isn't going to work and that anything the government does is inherently flawed and going to fail.
Can you provide one example in the last 30 years where that has NOT been the case?
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See here is the big myth. The guys on Wall Street never wanted this bail out , just the fat cat bankers and bank investers.

All the guru finacial guys on the radio have been screaming about how this is a horrible idea,putting more crushing debt on the American economy right now. In short the bounce is probably not going to happen , in fact , the exact opposite very well may happen..

Clark Howard and Lou Dobbs have been screaming against this bail out..Who to believe you ask?

Lets see Clark Howard or Barney Frank? Gee that is pretty tuff..

Yea, I've been reading where there is a LOT of selling off going on this afternoon. I just might cash mine in on Monday.

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The difference between the two being that this is a 700 billion dollar investment that will not only show return but will show considerable improvement to our own economy. The Iraq war is 100% money down the drain.

Honestly I've asked this a lot but do you guys honestly not realize what kind of complete economic ruin the massive failures in the financial sector will cause if and when they would have rippled over into all other sectors of the economy?

The 700 billion dollars is bailing you out personally in the end.

Not really as I'm having to pay for it in the end!

There were much better ways to fix the economy, this certainly wasn't the only option.

It's a big band-aid with a ton of pork added on. Thinking of it as anything else is incorrect.

We got taken..

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the scariest part about the whole situation is, they felt comfortable with getting the vote shot down the first time, then being arrogant as ever, knowing the public wouldnt have much to say about them buying the rest of the votes needed to pass this "rescue" bill. WHERES THE OUTRAGE? i cant be the only one thoroughly peeved by this move. i dont ever want to hear washington republicans call anybody a socialist ever again. this is a move typical of tax and spend liberals so i expect it out of them.

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Ok, what do you propose we should have done instead?

Certainly not original on my part but Dave Ramsey's idea makes more sense to me.

I. INSURANCE

a. Insure the subprime bonds/mortgages with an underlying FHA-type insurance.

Government-insured and backed loans would have an instant market all over the

world, creating immediate and needed liquidity.

b. In order for a company to accept the government-backed insurance, they must do two

things:

1. Rewrite any mortgage that is more than three months delinquent to a

6% fixed-rate mortgage.

a. Roll all back payments with no late fees or legal costs into the

balance. This brings homeowners current and allows them a

chance to keep their homes.

b. Cancel all prepayment penalties to encourage refinancing or

the sale of the property to pay off the bad loan. In the event of

foreclosure or short sale, the borrower will not be held liable

for any deficit balance. FHA does this now, and that

encourages mortgage companies to go the extra mile while

working with the borrower—again limiting foreclosures and

ruined lives.

2. Cancel ALL golden parachutes of EXISTING and FUTURE CEOs and

executive team members as long as the company holds these

government-insured bonds/mortgages. This keeps underperforming

executives from being paid when they don’t do their jobs.

c. This backstop will cost less than $50 billion—a small fraction of the current proposal.

II. MARK TO MARKET

a. Remove mark to market accounting rules for two years on only subprime Tier III

bonds/mortgages. This keeps companies from being forced to artificially mark down

bonds/mortgages below the value of the underlying mortgages and real estate.

b. This move creates patience in the market and has an immediate stabilizing effect on

failing and ailing banks—and it costs the taxpayer nothing.

III. CAPITAL GAINS TAX

a. Remove the capital gains tax completely. Investors will flood the real estate and stock

market in search of tax-free profits, creating tremendous—and immediate—liquidity in

the markets. Again, this costs the taxpayer nothing.

b. This move will be seen as a lightning rod politically because many will say it is helping

the rich. The truth is the rich will benefit, but it will be their money that stimulates the

economy. This will enable all Americans to have more stable jobs and retirement

investments that go up instead of down.

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I really, seriously, don't EVER want to hear another politician talk about how much the war in Iraq has cost us. In 7 years, we haven't spent this much on the "war on terror." This is a SAD day.

Nor do I want to hear then saying " we can't find the money to keep Social Security alive!"

Or for that matter either side call the other "socialist".

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