Bush Urges Americans to Support Rescue Plan

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i have no clue what the bail out plan is im an 8th grade and have to write a paper can someone please help me undestand all this?

of 3:57PM October 10, 2008

I'm tired of it was you, no, it was you, no, it's their fault!!! Let's just figure out a way to make America a country that can work together in a TEAM effort to break a record on saving their ass. I'm sure we can do that. Now, first of all who committed fraud? Wouldn't you say that any lender that charges someone with bad credit a higher interest rate is not a lender but a loan shark? America needs to change and stand up for herself!!! Our government has had long enough time to prove to America that the system DOESN'T WORK. Listen to Americans and wake up and look at what you've done to our country! You put us here, out on the street with nothing. Is that what you wanted? That is the old America...Here's the NEW AMERICA... Now, how do you fix this mess??
Let's see what causes heartache and pain and bankruptcy....sometimes it's just bad luck.
There are so many things in this world that can cause someone to fall behind on their payments...hospital debt., high interest loans, divorce, credit cards, jobs that no longer pay for mandatory overtime which keeps you from getting 2 jobs to pay for the high mortgage payment that is only being applied to interest up front on a loan that will never be paid off. Ummm..shall I continue??
Your partner in business takes you for a ride the same as the lenders did? He steals you blind while your working job 1 of 2. Embezzelement charges are filed but he leaves town and you get left paying the debt on the business.So after your first 2 bad marriages, your new husband has an automobile accident with your business truck..(another 2nd business attempt) someone dies..even though it wasn't his fault the wife gets sued because she owns the truck.
Now you are forced into bankruptcy and your once perfect credit is now destroyed. If this was a perfect America, she (America) would say, let's start over. Here's a lower interest rate with an up front percentage off the principal on the loan and a clean fresh slate. All debts can be paid in time based on a percentage of your yearly earnings on a 10 year plan. Oh, and your car you will be needing in a few years...we thought about that too, here are some dealers that are going to help you find something else to drive if necessary. Here's the amount you are allowed to pay for a used car. Here's the lender that will not turn you away and the interest rate on the car will only be 5% of the loan. If you loose your job...over here we have a savings mapped out and planned for you from the bankruptcy agreement. We can help you save money for harder times. HARDER TIMES???? Good grief...America...now that's a plan with HOPE. Who's HOPE? HOPE is AMERICA. Who's AMERICA...oh she's the star in the sky, the guiding light in the night,the angel of mercy when things go wrong in your life, the hope of the future of our world.

Rose Mooney of WV 9:50AM September 25, 2008

In a reverse auction format firms bid to sell debt to the government. Having a $700 Billion Dollar Fund would create a situation in which the sellers would not have the sense of urgency needed to aggressively price their bids. The bailout funds modest burn rate of $50 billion a month would encourage sellers to collectively holdout for prices that are far above what the debt would bring under competitive bidding. Let’s not forget that the sellers are much more informed and are in a far better position to understand the nuances of their portfolios and the future loan performance modeling than the “experts” the govt. is going to hire. The governments inferior knowledge could leave the taxpayers suffering unimaginable losses. Worse yet those losses may only be discovered well after the treasury runs out of money.
Forget the $700 billion. Authorize an initial commitment of $200 billion and pre-schedule subsequent hearings for additional financial commitments in advance. This would leave just enough margin of uncertainty that the sellers desire to hold out for higher prices would be tempered by their innate fear of loss that they might miss the governments gravy train altogether.

George Smith "RadioCeleb99" of FL 6:39AM September 25, 2008

I have to say this is the most reasonable think bush has ever said.
-I am a staunch liberal
-I am a 4th year econ major at a top 20 econ school.

Student of AL 1:08AM September 25, 2008

Okay everyone, before we go into a big "Bush Bashing" party here, let's look at who is really to blame. Why can't the American people admit that they are addicted to "I want it now and I want it all". If people wouldn't get in over their heads in housing and credit card debt, there wouldn't be this problem. Money flowed in from foreign countries so lenders could lend out cheap loans....and Americans borrowed over their heads! If the American people were more responsible with how they spend their money, this wouldn't be a problem. I suggest people learn how to save money and pay for things in full. It's a simple concept, and you have to wait sometimes to get what you want, but it keeps you out of debt. I love America and I love Americans, but can't some people step back and say, "wow, I did borrow more than I can afford. I need to learn to live within my means." Don't feel like "poor us...we have to go without that new car or 10 new pairs of shoes." NO, because we are still the wealthiest country on earth. Try complaining about having to live in a less than brand new house to a person who lives in a card board box in the townships of South Africa. There's a little perspective for ya. Americans---take responsibility for your actions.

Drish of IL 12:16AM September 25, 2008

Now is the time a President would normally rely upon his credibility with the American people when making such a request however, this President has lost all credibility by repeatedly lying and by his arrogance, America should reject his pleas and opt for a realistic plan. By breaking the bailout into managable sections the money could be managed much more efficiently. So much for mortgages, so much for operating expenses, so much for credit cards etc... The main problem is that they are planning on loading this bill with junk they wish to hide and expenses unrelated to the current situation. In short, this bill rewards failure which promotes inflation by negating market forces. Follow Warren Buffett's lead and support institutions in increments if bailing out any at all. This sounds more like Georgie protecting his buddies once again. I am further convinced to allow bussiness to fail and bail only when needed!!!

Ray Fisher of NM 11:18PM September 24, 2008

i wished one day that amrican can understand which way they are going to under bush admnistrantion this man is adiot by amrican judgement not mine if he want rescue this nation and his country he can take a look to afganistan how many soldiers are there how much money they give there and we did not talk about iraq then cos for sure they will answer iraq garuntee the oil we need so what ever we spend money on war in iraq for more than 15 years the oil there garuntee our money back
i wish a wise man take a deep look to the money amirca spend on weapons arround the world then he will know how can it resuce and save money to buy the loser companies there as mr bush want
sameh salah
forgive me for my english after all i am simple man

sameh salah of AZ 11:16PM September 24, 2008