Nice Bailout. Now Pay For It!

Why can't the companies pay back what they get or at least a portion of it over time? From what I'm reading, the government will buy up the bad debt but will be able to sell the assets they buy when the time is right. That will pay for some of the $700B. I think the companies that get the bailout should have a small special tax, say 3% on all profit they make for the next 30 years. They pay back what they can of what they got from the government at Present Value (what the money is worth today). As soon as they pay back what they got, they are free. If they can't pay it back in the 30 years, they are forgiven.

Whatever happend to thrift, honesty, personal responsibility, obeying the law, telling the truth, paying one's debts on time, trying to stay as debt free as possible, a day's work for a day's wage, etc.? It's like "Amos & Andy" and nickel candy, gone with the sun!

I would dearly like to see Angelo Mozilo in jail....

It is amazing that the people who were supposed to oversee the financial markets did not see this coming. Us should bring back Greenspan instead of putting 700 billion solution at the problem. Markets have a lot of faith in Greenspan.

Nimal Jayaratna

It's sad for so many people to miss the point here - we are not spending $700b, we are buying below market assets at market value (or below market value - hopefully) which have already been written down by the holding companies for huge losses. It's annoying to watch the media try and cause fear by telling everyone that they will tax the people for $700b. Warren Buffet had a great interview this morning explaining how the US Gov't could actually make money on this "bailout". The real risk is to make sure the US Gov't does not overpay for the assets.

No way no how dude, no way.
www.anonweb.eu.tc

Just one more chance for the Bush Regime to Stick it to the Sheeple.
www.anonweb.eu.tc

No bailout, no way, no how.

These businesses should fail - they made poor business decisions and risked the farm. That's the way a free market works. Provide government loans for folks? Sure. Provide millions for those CEOs? No way, no how.

And the new CEO of Freddie Mac is being paid $900,000/year? Unbelievable. Talk about things being out of wack with main street.

I have links to get your Congressmen???s contact information on my new website www.700000000000.com ( 7 & 11 0???s .com). Please contact your representatives to try to kill this bailout.

Thank you.
-Al

I have links to get your Congressmen???s contact information on my new website www.700000000000.com ( 7 & 11 0???s .com). Please contact your representatives to try to kill this bailout.

Thank you.
-Al

Having worked in a large European Global Bank since 1985 (Europe) including in the implementation of international post 9/11 anti-moneylaundering policies globally the thing that strikes me most is what is going to happen to ensure that the same thing will not happen again? New legislation will surely not be the solution. The only thing works in this fast world of sophisticated electronic products, high tech and derivatives and fli-second exchanges is implementation of electronic early warning systems within and across financial institutions (ALL institutions, not only Banks). You want to be warned when a certain situation occurs and systems should be blocking too high risk taking: knowledge based "monitoring and intervention" systems.

The second point is that from my experience in general Regulators often lack the knowledge and experience of the business for real effective oversight.

And third: although the remarks from Bill Gates in 1994 on "Technology, Banks and Dinosaurs" might be misleading, there seems to be truth in the fact that the basic infrastructure of most global large banks is basically from the /Sixties/Seventies/Eighties of the last century and not at all suitable for this kind of sophisticated products and monitoring activities.

Tony de Bree
www.tonydebree.com

"ABOVE ALL THINGS I hope that the education of the common people will be attended to, convinced that on their good sense we may rely with the most security for the preservation of a due degree of liberty." -Thomas Jefferson

As a public high school teacher, the current state of our public institutions reflect our values as a society, from my point of view. We are bailing out these failing institutions with taxpayer dollars while the state of our public school system continues to decline. Good teachers are being laid off and class sizes are growing.

Voters: Compare the SUPPORT (money) we're being asked to give private organizations to bail out these failures versus the kind of support our public schools need to effectively help all of our children. Where should our tax dollars go?

No child left behind is a law that requires improvements without funding to implement these improvements. Schools are listed as "failing schools" and lose funding (no bailout here) because of unrealistic goals that are not funded by this mandate in the first place. What is left in our public schools is often a stressed out skeleton staff that does not have the ability to properly educate our students, who we hope will lead us and support us when we are old?

Meanwhile, these corporate lobbyists have effectively secured deregulation, loopholes, and what they consider "optimal" conditions for their financial success. And a few well-connected people have lined their pockets with enormous amounts of money.

This sort of short-term gain at the expense of long-term growth has infected our entire way of running our society.

Unfortunately young people (the MAJORITY) of our future do not have the money or the resources to hire lobbyists. Their teachers and their schools have limited resources. And there are few organized efforts to effectively reform our schools to prepare our future. In every other developed and developing country we compare our students' progress with, there are serious efforts to improve, fund, and prioritize education.
THIS IS INVESTMENT IN OUR MOST IMPORTANT RESOURCE: HUMAN CAPITAL!

In America, we are starving our schools while bailing out reckless fat cats who've thrived on greed. Is this the American Way? Or have we lost our way?

Hopefully (as we say in school) we will learn from all of this and use it to improve, grow, and succeed

This is a BIG JOKE. What a rip off! Americans are suffering. Jobs are gone, college grads can't find work, houses aren't worth much, and we are going to fill the pockets of these jerks with money. Great!

this could be by far, the greatest economic sabotage in the US history!

these Washington technocrats and Wall Street bankers conspiracy seems to be working again to their benefits and fooling the US taxpayers again with these huge bailouts, leaving the taxpaayers subsidizing another rubout by these corporate

why does this article present the $700B in taxpayer money as a foregone conclusion? the headline says it all.

smells a little like sophisticated corporate propaganda to me..

maybe a little education is in order..
consider a paper I wrote called "fractional reserve banking as economic
parasitism"

http://econpapers.repec.org/paper/wpawuwpma/0203005.htm

endorsed by two phd economists. printed in nexus
magazine, 60k world circulation. #1 top downloaded
economics paper. used by economics
teacher in australia as standard classroom material.

recent supporting material:

Web of Debt-- How Banks and the Federal Reserve are Bankrupting the Planet, by Ellen Brown
http://www.webofdebt.com/

The Shock Doctrine: Naomi Klein on the Rise of Disaster Capitalism
http://www.democracynow.org/article.pl?sid=07/09/17/1411235

Confessions of an Economic Hit Man: How the U.S. Uses Globalization to Cheat Poor Countries Out of Trillions
http://www.democracynow.org/article.pl?sid=04/11/09/1526251

John Perkins on "The Secret History of the American Empire: Economic Hit Men, Jackals, and the Truth about Global Corruption"
http://www.democracynow.org/article.pl?sid=07/06/05/149254

Behind the falsification of US economic data
Peter Daniels
http://www.infowars.com/?p=2525

Money as Debt, video by Grignon
http://video.google.com/videoplay?docid=-9050474362583451279

From
http://financialsense.com/fsu/editorials/schoon/2008/0923.html

The reason no one remembers the hundreds of billions of dollars of seized property from Savings & Loans listed for sale by the RTC is because it never happened.

The greatest wealth transfer in recent history happened when taxpayer money was used to liquidate S&L properties which were then ???sold??? to well-connected insiders in transactions immune from criminal prosecution for literally pennies on the dollar.

The soon-to-be owned bank assets under Paulson???s plan will not be sold to the highest bidders in an open and fair auction, they will be disposed of again to pools of the wealthy and well-connected at highly discounted insider valuations. The people will pay, the rich will profit.

Fax your Senators people, this will be the biggest transfer of wealth in history (away from you!).