What is your view on financial crisis & 700 billion bail out?

do you think it should have been passeD?What is your view on financial crisis %26amp; 700 billion bail out?
It's not fair that we foot the bill, but we need it or we will go into a depression. Things will only get worse without it.
Here is my four minute view...



We need to pass a "bail out" with some serious modifications...



I don't want to play favorites for any particular party - but I do like the plan from Newt Gingrich, but only from a high level viewpoint. One of the reasons for this is because it will honestly keep our dollar strong. If investors front the bill, by investing in this, we could see a structured bail out that will pay off. But I wonder ...how many people will invest in this if we don't really know the total cost? Each day a new financial firm seeks help, the investment amount goes up a notch. BAM!



But lets take a look at the other side...



The current "bail out" plan, as it stands, will weaken the dollar (because more money will need to be printed), and it offers a "band aid" without any solid prevention of this ever happening again. It will work - but only temporarily. So - if the markets continue to free fall - the passing of a "bail out" (any bail out) will give us a moment of relief. Well - it will give relief to the stock market - but if you're losing your home...tough luck!



I think we need a bail out - but we need a comprehensive bail out. We need more than just a week and a few days to solve this problem that manifested itself over several years...



So screw this bipartisan bull - let's get our American a$$ in gear and fix this mess!!!What is your view on financial crisis %26amp; 700 billion bail out?
The first step in the people taking back their republic . Next to nationalize the federal reserve and have the Treasury start issuing Lincoln and JFK green back dollars again .
It should not be passed. It is like saying we are going to reward those who got mortgages they couldn't pay by bailing them out. The correct

thing to do is let the people who foreclosed to let them fail,, what about

all us who pay our mortgages? We are not rewarded.



All this mess started with Clinton loosening the rules on who could get

mortgages. It allowed people who had no intention of repaying to get

loans.What is your view on financial crisis %26amp; 700 billion bail out?
It is the direct result of the legislative action of one man who will go down in history as someone who betrayed the future of his people. His name was Fernand "Andy" St. Germain. He was a Congressman from Rhode Island. He served 14 terms in the House until the people of his State voted him out of office. St. Germain was the Chairman of the House Banking Committee. As such he authored what became the Community Reinvestment Act (CRA) in 1977. It had a noble goal. To end the practice of banks refusing home loans to certain ethnic and racial groups in the areas around those banks. But, it led to many bad loans being issued to people who had no means to repay those loans.

St. Germain also authored the law which deregulated the Savings and Loan industry in the 1980s. That led to the collapse of that industry, the creation of the Resolution Thrift Corporation and the Treasury stepping in to clean up the mess. Fortunately, over a period of six years, most of the assets seized were resold to produce a profit to the Treasury.

You won't hear much discussion about Andy St. Germaine from the "mainstream media". And you won't hear any of the elected officials of today mentioning his history. After all, many of those elected officials are beholden to the same K Street lobbyists who had St. Germain in their pocket. You also won't hear a lot about the genesis of the CRA either. It was pushed by community activists in Chicago.
I'm disgusted!!! That's my view. I am so tired of our governmental "leaders" These people running our country all need to be replaced and we need to start over people! I don't trust a single word that comes out of any of their mouths....that said. American's better learn how to save their money. We need to stop over indulging ourselves with dinners out every other night, cars we can't afford to drive and credit cards with limits that we can't even afford to pay! It's time to buckle down and start living within our means. Our government is destroying this country and quite frankly, I think they're all a bunch of idiots!!!
Personally I like the idea of suspending the capital gains tax more, but we all know that's not passing through. Some form of bailout will ultimately need to be passed, but there's no reason why they can't just come back in a few days and change some details to get it passed. That was the scary thing about this... they were wanting Congress to pass it quickly without so much as looking at it. Why not wait a few days?
No. Newt had a better plan that gave INVESTORS the opportunity to invest in this bailout rather than the taxpayer being forced to. It included completely wiping out the capital gains tax for the immediate future which would see billions pouring IMMEDIATELY into the real estate and stock markets and would also make funds available for lending.



I do not remember all of the details, but it was brilliant, and would also INCREASE tax revenues without increasing spending.



desert...and of course, St. Germain was a DEMOCRAT!
YES,,,,