5 Things to Know About the Bank Bailout

Reader Comments
Back to blog

+1

soundtracks of AL 7:18AM July 17, 2009

Great site. Keep doing.

soma watson brand picture of MN 6:44AM July 04, 2009

The banks, the insurance companies, the brokerages houses all lobbied for passage of The Commodities Modernization Act of 2000 which created derivativss and made them self-regulatory. They got exactly what they asked for and now holding out their sticky corporate fingers asking for bailout.
And this financial industry cabal lied to get The Commodities Modernization Act of 2000 passed. They promised to self-regulate There is justice and money on the table for the legal community.
The Emperor’s new clothes in American politics is that the idea of giving life-changing sums to citizens is somehow ungodly, damn-near communist, and inflationary, while propping up failed corporations is sound stewardship and fiscal prudence.
Why not give the American people a Marshall Plan for them to bail them out of the hole Congrees and the lobbyists put us in, instead of rewarding corporate miscreants.As jobs disappear, peopl can spell derivatives?
The Emperor’s new clothes in American politics is that the idea of giving life-changing sums to citizens is somehow ungodly, damn-near communist, and inflationary, while propping up failed corporations is sound stewardship and fiscal prudence.

C. Cromarty of CA 3:54AM March 01, 2009

A small percentage of the population herded the majority into a culture that was doomed to fail. That small percentage is made up of wealthy and highly educated people. Now they are fixing the problems they caused, not to benefit the herd, but to restore their own wealth and power. It is not clear that those who lead the herd have the capacity to restructure the culture so that what they have just caused will not be repeated in never ending cycles until revolt is a last resort.

A. MacDonald of NH 12:41PM February 20, 2009

Government does not create wealth. At best it stays out of the way, at the worst it tries to redistribute wealth. Obama and Congress will destroy this country. People who keep looking for the next handout - the people who elected Obama and Pelosi - do not create wealth either.

Will78 of WA 10:58PM February 18, 2009

The only thing that the new President has saif that was the truth is "..this is the beginning of the end..." Yes, it is, thanks to people who look for "charisma" and a media filled with liberal zealots. I guess there's one other truth..."Change"...we'll see how we like the change.

Yama H. of VA 9:00PM February 17, 2009

When was the last time you or anyone you know got a mortgage from your bank? The process was mortgage "bankers" (who are not really "bankers" but are commissioned sales people", convincing people they could afford the loan, then thru Freddie or Fannie Mac - quasi gov't entities - then packaged, with banks purchasing, assuming these to be strong investments based on the stature of Fannie and Freddie. Banks offering mortgages? Since when? Where?

peggy of KS 6:28PM February 17, 2009

I agree with the thoughts of your commentators. The answer is to temporarily nationalize the failing banks. I hate to say this because it is definitely down the slippery slope to socialism, but it is the only cure that will work. Bank management is not going to jeopardize their own future and their banks' future by making loans that will reduce their solvency further. They will not carry the true value of their mortgage loans and securities on their books, even if they could figure out what that value is. If they did, they would be insolvent and would have to declare bankruptcy themselves. More money is not going to work because we just do not have enough without encouraging a future hyperinflation. It's time to dose out the bitter medicine before it's too late.

Ernest Freeman of MD 3:18PM February 17, 2009

I can't help but think that if I had such an "ebarrassing" tax situation, I would be brought up on charges, not made Secretary of the Treasury.
Now that is off my chest, I can read the article.

Diane Cahill of NC 2:53PM February 17, 2009

How can we, or Wall Street, have faith in the bail-out plan, or even more so, the government, when Obama and congress want to spend a trillion dollars and do not even have a plan. How many of you would borrow even one thousand dollars with a plan on how you intend to use it?

Blondief of TX 2:51PM February 17, 2009