750,000,0000,0000$ are you f*cking serious

[6satan6archist6]

Did anyone else see good ol' Dubya asking congress to appropriate 750 billion dollars of taxpayer money to bail the banks out and solve this "financial crisis"? That has go to be the most ridiculous idea I have ever heard! We are already way in debt 350 billion in Iraq, not to mention when he took office this country was enjoying the largest budget surplus in US histor; now we have the largest deficit in US history. Of course congress is going to approve it, they have too in order to save their own asses and keep their wallets fat. Is anyone else as sickened by this as i am?

[Degausser]

Well, i for one would like to AVOID another depression.

Also, hail Jesus.

[Intangir]

well i typed a massive rant but id imagine zero of you would understand or believe most of what i said, so i deleted it and started over

northern command is bringing army straight from iraq here to be used against american citizens on US soil

Brigade homeland tours start Oct. 1 - Army News, opinions, editorials, news from Iraq, photos, reports - Army Times

why do you think they would do that? just think about it for a second

3.BREAKING!!!===What really happened in the Closed Door Session? Discussion of civil war, economic collapse, and how to save their asses
Closed Session House of Representatives??? | Ron Paul War Room

Hal Turner Show

the **** is about to hit the fan

[XxMolag BalxX]

You could be right, we will have to wait and see!

[ViperSRT3g]

I doubt much is going to happen. I haven't heard about any of this affecting the USMC :/

[6satan6archist6]

Another depression, do you really think that is going to happen? Do you even know what caused the first depression? The fact of the matter is the government doesn't need that much money to fix this. The fault here lies with the idiot many of you probably voted for and HE should be the one to fix it. Oh and hey retards, I don't care about the placement of the $ nor do I care if i added two extra 0's.

[JLTucker]

The banks shouldn't have given out loans to people who could not afford homes.

[Degausser]

Originally Posted by JLTucker

The banks shouldn't have given out loans to people who could not afford homes.

Well, that's just mutual stupidity on their part for taking the loan.

[IversonAli3]

I think the buyout is necessary from what I've read, albeit theyre probably blowing it out of proportion. I didn't really read too much about the situation or plan, so I would have to wait to hear the opinion of an impartial financial specialist.

[Mobilus]

Originally Posted by Degausser

Well, that's just mutual stupidity on their part for taking the loan.

Bush was responsible for it. When he came into office he relaxed the regulations that said lenders could only make firm offers of credit to people who had the appropriate credit rating and earning potential. Then by 2004 he was bragging that home ownership had increased more in his Presidency than in any other. He hailed it as the cornerstone domestic achievement of his administration. He is entirely responsible.

As to the bailout, it is entirely unnecessary. Foreign banks and other institutions will buy up the remnants of these companies on their own, the government doesn't and shouldn't have to do it. The only people losing out will be the investors of those companies, not the entire economy like the greedy credit companies want you to think.

[IversonAli3]

Originally Posted by Intangir

well i typed a massive rant but id imagine zero of you would understand or believe most of what i said, so i deleted it and started over

northern command is bringing army straight from iraq here to be used against american citizens on US soil

Brigade homeland tours start Oct. 1 - Army News, opinions, editorials, news from Iraq, photos, reports - Army Times

why do you think they would do that? just think about it for a second

3.BREAKING!!!===What really happened in the Closed Door Session? Discussion of civil war, economic collapse, and how to save their asses
Closed Session House of Representatives??? | Ron Paul War Room

Hal Turner Show

the **** is about to hit the fan

I'm sorry, but the President is already too busy packing up his bags and tying up loose ends to even have a chance to sit down and listen to this scenario. There are laws limiting the authority of federal armed forces on American soil. No one would have the guts to do something like that, considering their commander-in-chief is about to be replaced.

[6satan6archist6]

Originally Posted by Mobilus

Bush was responsible for it. When he came into office he relaxed the regulations that said lenders could only make firm offers of credit to people who had the appropriate credit rating and earning potential. Then by 2004 he was bragging that home ownership had increased more in his Presidency than in any other. He hailed it as the cornerstone domestic achievement of his administration. He is entirely responsible.

As to the bailout, it is entirely unnecessary. Foreign banks and other institutions will buy up the remnants of these companies on their own, the government doesn't and shouldn't have to do it. The only people losing out will be the investors of those companies, not the entire economy like the greedy credit companies want you to think.

Very true

[K? Pŕo?ćtiόnŹ]

God damnit Intangir, leave your crazy **** out of serious threads.

[IversonAli3]

Originally Posted by Mobilus

As to the bailout, it is entirely unnecessary. Foreign banks and other institutions will buy up the remnants of these companies on their own, the government doesn't and shouldn't have to do it. The only people losing out will be the investors of those companies, not the entire economy like the greedy credit companies want you to think.

Well a complete collapse and liquidation would cause American and foreign investors (and general population) to lose confidence in the remaining financial institutions and economy in general. That is in essence, a recession. Those financial institutions would in turn take a very defensive/cautious position and severely limit the amount of credit they would approve.
American spending would take a plunge, as a result of having to save money to purchase assets they would have normally acquired with credit. People would also cut unnecessary spending in favor of saving their money because of their cautious, unconfident mindset. Its that psychological reaction that causes recessions. At that point, almost every company listed in Wall Street would begin to see its value decline. This would be when the situation would 'hit home', with companies reducing spending by cutting back on development and laying off their workforce. The number of corporations and private enterprises declaring bankruptcy would rise, causing a ravaging, self-sustaining cycle.

The plan the government has is to restore these financial institutions to a functioning level, the goal being to restore consumer confidence. The sub prime credit it's purchasing shouldn't be written off as a massive splurge of money, because we obviously wouldnt be able to afford that. It's a long term investment/Asset that would be sold off incrementally when the markets stabilize, either to American or for