Great American Bailout!

[LightBringer]

Only a token or nobody is punished. All is forgiven. The doors to the treasury are wide open for the effing greedy ass fat cow bastards to take how ever much they want. 700 billion? Is that enough? ha, big F no. Taxpayers get punished once again.

[|IB|NieN]

If you think 700 billion is all it's going to cost, you are mistaken. This will cost us about 1.3 trillion dollars... Almost double what they are saying.

I can hardly wait to watch the debates tomorrow. Its going to be a fucking joke.

[LightBringer]

700 billion is just a number picked out of the air. There should never ever be so many large banks going under. Something was not properly regulated. This makes the Enron failure look like peanuts.

[BuddhaMan]

Uhhh...Enron was breaking the law. The whole banking/credit/mortgage system wasn't/isn't.

[StAnkY]

If you think 700 billion is all it's going to cost, you are mistaken. This will cost us about 1.3 trillion dollars... Almost double what they are saying.

I can hardly wait to watch the debates tomorrow. Its going to be a fucking joke.

lol totally agree with you. grandpa clueless and 1 dimensional wonder boy

[=DBA=Ronin]

I got this in an email from my brother. I say go for it...

I'm against the $85,000,000,000.00 bailout of AIG.

Instead, I'm in favor of giving $85,000,000,000 to America in
a We Deserve It Dividend.

To make the math simple, let's assume there are 200,000,000
bonafide U.S. Citizens 18+.

Our population is about 301,000,000 +/- counting every man, woman
and child. So 200,000,000 might be a fair stab at adults 18 and up..

So, divide 200 million adults 18+ into $85 billon that equals
$425,000.00.

My plan is to give $425,0 00 to every person 18+ as a
'We Deserve It Dividend'.

Of course, it would NOT be tax free.
So let's assume a tax rate of 30%.

Every individual 18+ has to pay $127,500.00 in taxes.
That sends $25,500,000,000 right back to Uncle Sam.

But it means that every adult 18+ has $297,500.00 in their pocket.
A husband and wife has $595,000.00.

What would you do with $297,500.00 to $595,000.00 in your family?
Pay off your mortgage - housing crisis solved.
Repay college loans - what a great boost to new grads
Put away money for college - it'll be there
Save in a bank - create money to loan to entrepreneurs.
Buy a new car - create jobs
Invest in the market - capital drives growth
Pay for your parent's medical insurance - health care improves
Enable Deadbeat Dads to come clean - or else

Remember this is for every adult U S Citizen 18+ including the folks
who lost their jobs at Lehman Brothers and every other company
that is cutting back. And of course, for those serving in our Armed
Forces.

If we're going to re-distribute wealth let's really do it...instead of
trickling out a puny $1000.00 ( "vote buy" ) economic incentive
that is being proposed by one of our candidates for President.

If we're going to do an $85 billion bailout, let's bail out every adult
U S Citizen 18+!

As for AIG - liquidate it.
Sell off its parts.
Let American General go back to being American General.
Sell off the real estate.
Let the private sector bargain hunters cut it up and clean it up.

Here's my rationale. We deserve it and AIG doesn't.

Sure it's a crazy idea that can "never work."

But can you imagine the Coast-To-Coast Block Party!

How do you spell Economic Boom?

I trust my fellow adult Americans to know how to use the $85 Billion
We Deserve It Dividend more than I do the=2 0geniuses at AIG or in
Washington DC .

And remember, The Family plan only really costs $59.5 Billion because
$25.5 Billion is returned instantly in taxes to Uncle Sam

[|IB|NieN]

The math on that is very flawed Ronin.

[StAnkY]

I think the bailout is necessary but not at the taxpayers expense or inherited burden. Let them BORROW the money, pay interest on it and the whole time we are watching them like an old man making sure their lawn is being mowed correctly by the neighbor boy lol

[LightBringer]

Uhhh...Enron was breaking the law. The whole banking/credit/mortgage system wasn't/isn't.

Uhhhhhhhhhhh the verdict is still out on it being breaking the law or not. I was talking about the amount of debt not the law breaking.

[SealClubber]

Ronin, I am shamelessly stealing this! :p

[|IB|NieN]

I actually did the math on that Ronin and I think your friend is way off.

80 billion dollars, divided up between 200 million residents is $425 ... not $425,000

If you think about it... the stimulus package was for 160 billion and it gave people up to $600 each.

[=DBA=Ronin]

ha...good thing someone is checking the details! It was just a chain e-mail btw...no friend of mine would be smart enough to come up with a plan like that, but given how the math is so far off, it wouldn't suprise me if it was.

Maybe whoever wrote this was the one responsible for this whole mess...can't even pretend without fucking everything up.

[Pallidrone]

hmm - I dont know what to make of this whole entire mess.

My only thought is this - Why is NOBODY pointing their fingers at the government? They are the ones that cut the interest rates to all time lows because of the money being lost on a war. Where were they when it was obvious that the lending was going out of control? Where was the regulation to say "Hey what the fuck are you guys doing?"

I dont understand how nobody could see this happening. It happened with the stock market back in 99 when stocks were going out of control with people buying up stocks in companies that had no real profit. Did they really think that the housing market was going to continue to go up??

I think we are in a damned if you do, damned if you dont situation here. Regardless of what we do we are going to be fucked.

[|IB|NieN]

They shot down the bailout bill today.... and the stock market plummeted 700+ points.

It will bounce back. I had previously emailed my representatives and told them to vote against the bailout. It is just a bandaid fix and will help tank the dollars value a lot worse than it is now. I was actually pretty surprised to find out that they voted against the bill. Its just a step one though and I'm sure it will be back in again this week for another shot after some changes.

What we need is oversight on the Fed, which is not a governmental entity. They are the ones that set interest rates among other things.

[LightBringer]

I'm surprised it was shot down too. I don't see how you can blame the private industry or the people. They did what they were allowed to do even if it was too risky and bad choices. This is a gov't rules and regulation gone bad. Gov't kept band-aiding, and it finally failed in my opinion.

The stocks will bounce back once the gov't get the bail-out approved. It's a matter of timing. I wish I knew when so that I could buy all this stock that is in the crapper, and sell 'em when the bail-out is approved.