As a long term Democrat I am astonished at how easily Republicans bought into the government's finalized "rescue package." That involves banks receiving 700 billion dollars (more or less) in return for providing the government with equity in those participating institutions. That, folks, amounts to partial nationalization of our banking system and a long stride down the road to socialism. And Republicans went for "THAT ONE?" Who knew? As for what Repubs SHOULD have proposed? Providing for the government to deposit (not invest) that 700 billion in savings accounts at selected institutions (meaning banks considered unlikely to fail). Result? Selected banks get the needed capital to again start extending credit, taxpayer money is deposited (at nominal interest --- perhaps 1% or 2%) so, eventually, it should all come back when the government closes the accounts, AND no "bailout" or "buy in" would be involved --- any more than you do when you make your own deposits. Hence, no journey down that road to socialism, a journey currently being undertaken by Republicans as well as Democrats.
D.S. Arthurof CA3:42PM October 18, 2008
Dude - we need to free up the capital markets. Sure, the US government is spending us into a worthless dollar by not raising as much as they spend. But the need today is to thaw the capital markets and get them flowing again - because panic has frozen them.
Once they are flowing, let's hope Obama/McCain will actually want change and bring the gov't back under control (sorry, just had to get a good laugh in there).
Studof NE10:14PM October 16, 2008
I cant believe how willing people are to live under Socialism. It boggles the mind. We are a Constitutional Republic and are supposed to have a free market economy. But that cant happen if we let the Government Socialize everything. The total lack of knowledge about common sense economics is a shock to me. I recommend reading the short but true book about economics called: Economics in One Lesson by Henry Hazlitt. This book is used as a supplimental text book in many University economics classes. Please take the time to learn real-world economics and the natural laws that coincide with it. You can read it online at, http://jim.com/econ/contents.html. Or learn more from the Mises Institute or the Campaign for Libery website or many other places that feature Austrian Economics. Capital is savings and we don't have any savings. You cannot create capital out of debt money printed out of thin air. We are allowing the devaluation of the dollar by flooding the system with more fiat currency out of thin air. Also, it would be helpful if people knew more about how fractional banking works and what money really is. You can find that at: http://video.google.com/videoplay?docid=-9050474362583451279
IT's the the best 40+ minutes you could spend learning something important.
Concerned Citizenof MO9:30PM October 15, 2008
why arent modular homes covered by bailout also they should be
dallas kennonof IL7:57PM October 15, 2008
If they want to help main street out, the FED should give
a $ 1,000,000.00 check to every single family filing their
2007 income tax. The very next day, you would see the economy
moving again. This is the fastest way to eject money into the
system.You can not start the construction of a building by placing the roof top, and then the different floor levels.
If main street can't shop for food, house and commodities, how
could money circulate? Manufacturers and producers, they all
borrow money from big banks to feed main street and make their profit margins, and so on.
I want to hear something like that from one of the two candidates to get me exited.
Amos Isaacof FL6:29PM October 15, 2008
What if I am already late on my mortgage payment, will I get any relief?
William Newtonof 11:33PM October 14, 2008
When the finacial crisis first raised it's head in August 2007 I moved my investments to a fixed income mutual fund that has mirrored the returns of the 10 year treasuries. In the last week, 10 year treasuries have been going up - even with the expectations of a recession for the next 10 months. Why is this happening?
Julieof FL4:20PM October 14, 2008
Believe it or not this could be the beginning of our finest personal years. Consider self employment. www.LikeSoup.com
Jim Campbellof CA1:34PM October 14, 2008
How much will I lose in the meanwhile?
Am I willing to wait this long to recoop my money?
Do I trust the money situation to turn "profitable" and not just "recoverable" shortly after the time of recovery?
Based on your reality based, non-hyped/coddled answers,what do you think you should do if you have money in the stock market at this point and time in U.S. history.....hmmmmm.
Tincup@Wallstreetof NY11:18PM October 13, 2008
I put in 5,200.00 in and over 5 years it turned into 6,400.00 now its 4,900.00. I have 60% bonds and 40% stock. Should I pull it if I need to have it in the next 5 years???
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D.S. Arthur of CA 3:42PM October 18, 2008
Stud of NE 10:14PM October 16, 2008
Concerned Citizen of MO 9:30PM October 15, 2008
dallas kennon of IL 7:57PM October 15, 2008
Amos Isaac of FL 6:29PM October 15, 2008
William Newton of 11:33PM October 14, 2008
Julie of FL 4:20PM October 14, 2008
Jim Campbell of CA 1:34PM October 14, 2008
Tincup@Wallstreet of NY 11:18PM October 13, 2008
Eileen of OH 8:07AM October 12, 2008