Ada vs. Wall Street

I FIND IT HARD TO BELEAVE THAT OUR ELECTED OFFICALS THINK THAT BAILING OUT BIG BUSINESS WOULD BENIFET THIS COUNTRY! WE SHOULD TAKE EVERY YES VOTE AS A RESIGANATION FROM THEIR JOB IN THE SENATE OR THE HOUSE. WE NEED PEOPLE IN OFFICE THAT BELEAVES THAT THIS GOVERNMENT IS BY THE PEOPLE FOR THE PEOPLE NOT BY THE PEOPLE FOR BIG BUSINESS OR THEIR OWN PERSONEL VIEWS, THEY ARE THERE AS OUR MOUTH PIECE.

Come on, Newsweek, get real. This is just a weee bit different than one single individual declaring bankruptcy. While I WHOLEHEARTEDLY AGREE with this woman that ANYONE who did unethical things in causing this mess ought to be held accountable, including fines, stints in jail and an ugly felony record, Ms. Noda's bankruptcy is not going to cause perhaps millions of jobs nationwide to disappear. Businesses in the modern world, especially large ones, run off of credit and it doesn't take a rocket scientist to understand that if businesses can't get credit when they need it they can't survive. So how are you going to keep a roof over your head when your company locks its gates?

I was against the bailout at first too until I started reading numerous articles on the internet. It's not a "bailout", it is a "loan" AND since the Gov't would be buying bad mortgages, those mortgages are not just pieces of paper, they are pieces of paper that are backed by actual physical property; the homes attached to the mortgages. Since property historically increases in value (yes, housing prices are generally going down around the country but they certainly won't forever) there is a chance that the Gov't can actually MAKE money on this deal AND that would be "returned" to the American taxpayer in the form of lower taxes. Lower taxes? Yes, instead of the Fed Gov't saying "you owe us X dollars", if they have profited money from this gig in their cookie jar then they won't need as much from you and me.

Should we be in this mess? Absolutely not, but we are and so we've got to do something about it. Helping the large banks out is kind of like taking nasty tasting medicine; it tastes awful but it helps get you better and not taking it only leads to worse consequences.

The government needs to listen to the American people. It is the governments fault that the economy is in this mess and the stocks are falling drastically on Wall Street. What is the government doing to help the average middle class to poor Americans? We are the ones who need help not these big companies.
Just because Ada had to file bankruptsy does not give us the right to judge her; because financial ruin can happen to anyone of us.

Why not freeze all assets of CEO's and our politicians and audit and investigate them for any wrong-doing (which includes Busch and Cheney). Hold them responsible. Am positive that we could come up with a lot more than 700 billions. The Government confiscates all assets from Drug Dealers - don't they? Same difference.

I find that our senate under Harry Reid is selling this country out to bailing out big business. These companies have undermined the country with their self serving interest. I beleave that if the House passes there 700 Billion bailout that we should show how pleased we are with them by voting them out of office! I also beleave that the FBI should look at there campain income and kickbacks they receive for selling out the country.

A bunch of wealthy politicians bailing out a bunch of wealthy corporate buddies - the people who will pay for it are you and I in the working class. The bailout won't pay our inflated mortgages, it will only allow the bankers to continue to romance the general public into more mortgages we can ill afford but keep them rich. They "dangle" the American Dream in front of us full well knowing that the only people realizing it are themselves at our expense.

What the Government needs to do is take the estimated $700 billion bail-out amount and give it to the TAXPAYERS. Everyone REPORTING & PAYING TAXES on less than $100,000 adjusted gross income should receive a proportionate part of the funds, based on their % below the benchmark. This would ensure that the people with the highest % below the benchmark would receive a higher % of the funds. In other words, the greater the need (to reach the benchmark), the more you receive.

By giving the funds to the taxpayers, you would not only help them to payoff their mortgages and other bills, you would also help the economy and even the companies that started this mess to begin with. This would be achieved by the simple fact that simply using the money to pay bills the taxpayers would be reducing their debt & adding the money back into the economy, both through direct payments to companies and by taxing the distribution as income. This would immediately give the government income from the taxes and would also help the companies increase their cashflow while reducing their exposure.

Why should the government give the taxpayers hard earned money to the companies that obviously don't know how to manage it!!!

It's high time that the government starts looking out "for the people" rather than looking out for corporate america. As my parents used to tell me, "you made the mess so either clean it up yourself or sleep in it quietly", seems like a good lesson for the greedy corporate mongers to learn and for the government to enforce!!!

What the Government needs to do is take the estimated $700 billion bail-out amount and give it to the TAXPAYERS. Everyone REPORTING & PAYING TAXES on less than $100 - $125,000 adjusted gross income should receive a proportionate part of the funds, based on their % below the benchmark. This would ensure that the people with the highest % below the benchmark would receive a higher % of the funds, thereby ensuring equity among those receiving the funds; in other words, the greater the need, the more you receive. By giving the funds to the taxpayers, you would not only help them to payoff their mortgages and other bills, you would also help the economy and the companies that started this mess to begin with. This would be achieved by the simple fact that using the money to pay bills they would be reducing their debt & adding the money back into the economy both through direct payments to companies and by taxing the distribution as income. This would immediately give the government income from the taxes and would also help the companies increase their cashflow while reducing their exposure.

Why should the government give taxpayers hard earned money to the companies that obviously don't know how to manage it!!!

It's high time that the government starts looking out "for the people" rather than looking out for corporate america. As my parents used to tell me, "you made the mess so either clean it up yourself or sleep in it quietly", seems like a good lesson for the greedy corporate mongers to learn and for the government to enforce!!!

fatjoey; could you be a bigger loser, yourself? what a close-minded attitude; you should run for congress.

I think that instead of bailing these companies and banks out, the government should give this money to the American people over 18 years old and legal citizens. We would be paying taxes on the money and putting the money back into the economy which would help everyone out in the long run. I was a single mother who raised three daughters on her own and managed to put money into CD's and savings and retirement. People need to learn how to budget their money and live within your means. Pay your debts first before buying luxuries. Cheryl

MAKE NO MISTAKE! This bailout is a bad idea. When the banks and financial houses were inflating these notes to pad their bonuses, it is only a matter of time before it "corrects" to where it should be. Whether or not the bailout makes it or not, rest assured: Water will find it's own level. and these "instruments" will drop to their REAL value. No matter what Congress does. This bailout does nothing more than continue the "float" and just prolongs the inevitable onto the backs of our children and grandchildren. If you are below the age of 30, YOU JUST GOT SCREWED! And you won't FEEL it for probably another decade or so. But, IT WILL COME again. And it will be this bad PLUS added to it, the cost of this bailout. The only solace for me is that when all of this has to be dealt with again...I'll be dead and gone and not the least bit concerned. I am concerned for my kids and YOUR kids. They'll have to clean this up.

ada did what every loser did,she declared bankruptcy and let the tax payers pay her bills for her! she has a black friend turned her on to it!!!

it's amazing these companies can pay CEO's millions but were left fighting for our homes. The stimulus checks boosted the economy, helped AMERICAN TAXPAYERS, and it even boosted wallstreet. The whole thing stems from people losing their homes. Why not send out another stimulus check for some real money that would help these people get out of the debt their in. Give each person enough to actually make a difference not just buy groceries. This bailout is not helping the ones it needs too, it's a bandaid idea. If every month more and more are filing foreclosure then they'll need more and more money. It would be cheaper sending out 3000 per taxpayer then it would be to help a couple of companies fix the mess they got themselves into. That kind of money would save homes, groceries and bills to get these people straightened out. They'd have money to spend in these stores, boosting the economy and getting them out of debt so they can start spending again. It'd give them the money to keep their homes.

it's amazing these companies can pay CEO's millions but were left fighting for our homes. The stimulus checks boosted the economy, helped AMERICAN TAXPAYERS, and it even boosted wallstreet. The whole thing stems from people losing their homes. Why not send out another stimulus check for some real money that would help these people get out of the debt their in. Give each person enough to actually make a difference not just buy groceries. This bailout is not helping the ones it needs too, it's a bandaid idea. If every month more and more are filing foreclosure then they'll need more and more money. It would be cheaper sending out 3000 per taxpayer then it would be to help a couple of companies fix the mess they got themselves into. That kind of money would save homes, groceries and bills to get these people straightened out. They'd have money to spend in these stores, boosting the economy and getting them out of debt so they can start spending again.

October 2, 2008 What next? Gasoline prices have reached such proportions ever heard of in our country. These corporations can't handle their money but want to handle mine and yours. Always before we had ceilings or Iguess you would call them "top outs" where the corporations couldn't charge more. Decisions made by these corporations are the fault. That plus their desire to blame it one the federal government. We pay. Run offas much of those dollars as you wish...it lowers our base and that is our behind showing to the world.

I too think the bail out is a bad idea. But since it seems enivitable who deserves it more us or them? What a great country we live in when the big fish are being saved while us little fish get eaten alive by high gas prices, high food prices, preditory lenders and the loss of jobs. But hey my economic stimulus check just bought me and my family thirty more days in my home. We should all stop complaining huh?

Dear Tigerlily,
Granny declared backrupcy she did not get any Federal Taxpayer funds. If these institutions declared backrupcy and the fed bought those notes at discount it would be a lot less than 700 billion. The argument she makes is true. You have to live within a budget and not borrow so much. We as a nation depend so much on short terem credit and so forth we have lost our ability to make a cash rich nation. The bail out is a bad thing there is no other way to put it. Let every American have the $250,000 dollars plus and really stimulate the economy. This money will flow into CEO salaries and not really into the hands of those it is intended to help. There are better ways the question is why don't we look for them??

i guess i am missing something here. granny said that she had her debt taken away and now she is starting all over. that is what wall street is asking for as well. it puzzles me how you can use someone to try to prove your non-bail out argument that did the same thing herself:(