Bailout Will Help, but Pitfalls Remain

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You are not alone in the belief that all of our woes are attributed to "Wall Street CEO's", but like most of the country, you are listening to the very group (Washington politicians) that want us to believe this.
The real culprits are Congress. These financial institutions are only doing what deregulations allowed them to do. Just as you saw in the revised bailout bill, $150B (pork) was added to buy the votes.
Any incumbent with tenure more than 1 term should be voted out, then we will have their attention!

Tim of LA 10:04AM October 07, 2008

As long as the hoodlums of government and their federal reserve thugs continue to privatize profits and socialize losses.
We the middle and lower classes are screwed.
Once the greedy have taken all they can from us....there will be only one thing left for us to do.
Revolution!!!!
first step....realize that anything Bush says is a lie, andhis best interest is all that he has in mind.
The mistake we all have made in the past is that we believe these government officials care about what happens to their fellow americans.
They care no more about you than you care about them.
Think about it.......
They can live anywhere when they're rich.
The last deppression still left rich people in this country.
While others starved.
There will be no bail out for us...just another way to borrow more money to create yet another under the table money stream for these black hearted pirates.

Lee ward of CA 2:34PM October 05, 2008

I am amazed by your assertion that volatility will decrease in the stock market because of the bailout. Volatility in the S&P 500 has been increasing since 1995. While a very few companies will benefit from the bailout (maybe six to twelve?), most banks and financial companies in drag will not see one penny. What exactly in the bill is going to decrease volatility, and how will it accomplish such a task? Will debt actually decrease with this bill? Will uncertainty over earnings decrease?
Will the commercial paper desks at most financial houses open the spigots in October? November? December? 2009? When will the bailout actually start working? Exactly who, besides Goldman Sachs will benefit? What specific feature in the bail out bill will absolutely, with 100% certainty, cause credit markets to unfreeze?
You seem to think consumer lending will magically increase? Why? From everything I can see, requirements for loans have increased dramatically. The folks that don't need credit won't be borrowing, and the folks that want credit won't qualify.
You sound like some sort of love struck teenager wooing his first love. I'm glad you are pretty much like everyone else reporting on the bail out - unable to think for yourself.

codewiz51 of OK 8:58AM October 05, 2008

While I agree fault lies on Wall Street, and the $700B (this doesn't include the pork $150B, using your figure) of which we don't have to begin with (see deficit), we have already exceded $1Trillion (i.e. Bear Sterns, AIG, US Automakers, etc) when you look at the last year's events (i.e. bailouts).
The fault begins with every sitting member of Congress (House & Senate) who signed the mortgage legislation in '99 into law allowing 100% financing, and allowing govt sponsered lenders Freddie & Fannie to operate unregulated just because they donated to 75% of Congress.
Come November 4th, you will be allowed to express your frustration directed to the true offenders!

Tim of LA 7:06AM October 05, 2008

I just saw a site called xwallstreeters dot com. Even with the mid-market and boutique banks Investment Banking will not be the same as it was with the big players. In fact these banks have seen what went down and they will just be even more cautious. As a career option I think IB has fallen from its high horse and we just have to rethink our alternatives ahead.

Joe of NY 4:14PM October 04, 2008

How can so few cause so much havoc in the world it abolutely beggars belief ?

Bill Davidson 11:17PM October 03, 2008

It really too bad the the Americans in this country couldn't vote on an issue that ways heavily on all of us. This is a bunch if crap and they may be an serious up roar from Americans sick of being bullied by our own representatives.

jennifer of WA 10:11PM October 03, 2008

PS- Oh yeah- My retirement that occurred before was disabled by High-speed Head-on collison, not my fault, from an individaul attempting to commit suicide, has been cut-off at 2000 pay level with NO equaliztion pay increases, as was promised/stipulated by Congress, because of a "Cost Saving Measure" in the Clinton Administration- HR 1661/SR1387 - Check it out and read.
You People think you've been had - And this is only the tip of the iceburg that can attest to - Have loads of others! !

DaSkooter of PA 9:26PM October 03, 2008

This has been the way of USA History since Politicians becamne permanent-during Lincoln's era, and nobody has caught on as to their deivious antics.
So if YOU -21st letter of the alphabet, want to know How and Why - Just get your answer from that idiot that greets you in morning Lavatory Mirror ! ! !
Get up off your brains and ACT; Standing around, wringing your hands like a bunch of lost Souls and Whinos in a junk yard isn't cutting it or getting it DONE !!!
Fought two Wars, WWII/Korea, back to back and regret every bit of it! ! !
Three[3]Purple Hearts; two[2] Bronze Stars w/V attachment; Silver Star;Sailors/Marine Medal for LifeSaving other than combat; British Distinguished Conduct Medal[DCM]- And they can have all of them back, except the DCM-Will Keep and revere that as they really appreciated service done and it accomplished something that lasted! Plus time in USMC !

DaSkooter of PA 8:40PM October 03, 2008