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Steve.Young

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700 Billion Dollar Bailout
« on: September 24, 2008, 08:44:03 AM »

According to the reports, the bailout for wall street will cost each American man, woman, AND child approximately 2300 dollars each.

Here's what I want to know, do you feel that this sort of cost is justified? Why?
Is it fair that every American has to pay for this bailout? Why? Do you believe everyone has a stake in it?
Should the government basically write a blank check for 700 billion dollars?

To give you a comparison, the war in Iraq has only cost us about 550 billion dollars give or take (about 100 billion annually), so this would be relatively MORE expensive than the war.

Do you believe some intervention is needed but this is NOT the solution? Then what would?


I personally believe that this is a huge waste of money. If businesses didn't have shady practices on how debt was issued/invested, we wouldn't be here. (Basically they gathered all the debt, cut it up, sold it off as investments, therefor complicating everything as they have no clue how much anything is actually worth)
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Re: 700 Billion Dollar Bailout
« Reply #1 on: September 24, 2008, 12:43:58 PM »

What a coincidence I have to write a mini paper about this.

I agree with you to a certain extent, but I don't feel that I have read enough to get a true opinion about it yet.
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G.I.R

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Re: 700 Billion Dollar Bailout
« Reply #2 on: September 24, 2008, 01:13:19 PM »

It's things like the bail-out that make me glad I stashed my  $600.00 Economy Stimulus check into my savings account.  Of course that won't cover the other $1700.00 It likely will cost me.
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Re: 700 Billion Dollar Bailout
« Reply #3 on: September 24, 2008, 01:56:45 PM »

I heard in the underground, (and on bbc I think it was) that 85 billion dollars were printed in this country. Cuasing all other countries to print 85 billion to balance the out their currency with ours (I don't know the term off the top of my head)
Now, I just tuned in to the tv and have been listening to this to understand a little more. But it got me wondering if they printed that 700 billion out too.


Anyways, I firmly disagree that tax payers should bail out wall street.  >:/ Tax payers SHOULD be treated as investors, for this issue. Since we're apparently going to pay for it anyways.
It's a horrible mess we're in. If I could, I wouldn't give them anything. My money should help me and go to me. Not to something I won't benefit from and in the long run, cuase a hardship.



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Re: 700 Billion Dollar Bailout
« Reply #4 on: September 24, 2008, 02:14:46 PM »

For me, the biggest issue isn't whether it's right to bail out companies with bad practices and bad oversights.  That's an obvious no.

The question is whether America can afford to let these companies go under.  Their bankruptcy means people's pensions, investments, savings, etc. all go kaput, which will have bigger ramifications.

But I haven't had the time to look into the issue too thoroughly.  My initial reaction is that if we're going to save these Wall Street companies, then what about companies such as GM?  They have employees too, right?

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Re: 700 Billion Dollar Bailout
« Reply #5 on: September 24, 2008, 05:38:43 PM »

So I've read a bit more and I'm strongly against this. One of my questions is where is the money coming from? If we were to borrow it we'd just be furthering our substantial debt.
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otakuapprentice

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Re: 700 Billion Dollar Bailout
« Reply #6 on: September 25, 2008, 11:37:39 PM »

...which will inevitably make the U.S. Dollar worth even less than it already is.

Can you say "Modern-day Depression"?
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Sunara Ishi

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Re: 700 Billion Dollar Bailout
« Reply #7 on: September 25, 2008, 11:56:02 PM »

Can you say "Modern-day Depression"?
We're heading there already.
The signs are in the air; screaming at us and pounding at our doors.

And the government is just trying to dig us out of the grave that we've been buried in. -.-;
I think a bail-out needs to be done to keep the economy afloat and keep businesses from failing; and thus keeping jobs.
However, I don't think taxes is necessarily the right way to do it. Especially when people are struggling to pay for things they need to survive.
Maybe investments via bonds or something would be better.

I'm not going to fuss too much as long as we don't enter a depression and as long as I'll be able to get a job... >.>;
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Re: 700 Billion Dollar Bailout
« Reply #8 on: September 26, 2008, 01:30:13 PM »

Another bank bought out today and their CEO gets a $20 mil package...

The slope is getting steeper.
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Re: 700 Billion Dollar Bailout
« Reply #9 on: September 27, 2008, 12:20:06 AM »

America doesn't really understand how to handle money. I disagree with the whole "taxpayers have to pay for something they don't even advocate, sometimes even if it's just to benefit people" who we honestly couldn't care much about. Banks are getting screwed. People are getting screwed. If America didn't print money to try and pay for other things because they feel they can use those resources on a whim as they have the power, it would put us in a little bit of a debt for a while though the government could eventually pay it off. It doesn't screw around with the fact that our dollar weakens and the whole economy sags down that much more.

They screw with the economy and are trying to deny the fact that we ARE in a depression because that would just cause freaking panic. The signs are all there, the name just hasn't been put onto the disease.

EDIT: I think the economists who announce (I forget his name) when we are in a depression and his organization is waiting for when the next president comes into play. See what they'll do for the economy, see if they screw up so they can pin the blame on the new president for trying and not succeeding. Probably think that Bush already has enough screw-ups and blames on his presidency...
« Last Edit: September 27, 2008, 12:25:38 AM by Chiri Kcrinh »
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Re: 700 Billion Dollar Bailout
« Reply #10 on: September 29, 2008, 03:11:35 PM »

I heard in the underground, (and on bbc I think it was) that 85 billion dollars were printed in this country. Cuasing all other countries to print 85 billion to balance the out their currency with ours (I don't know the term off the top of my head)

Printed currency is of no consequence here; it has nothing to do with any of the other numbers in this article.

If I get a $400,000 loan to buy a house, I don't actually get a large stack of twenties.  That money is either in checking accounts or in the securities that back the mortgage.  There's a long long long explanation of how money works, which I don't want to deal with.

I think a bail-out needs to be done to keep the economy afloat and keep businesses from failing; and thus keeping jobs.

I'm unconvinced that we're on a brink of an actual depression.  I'd like some actual arguments that suggest this is "necessary", with actual numbers.  Otherwise, this is a form of "trust me!" from the people who got us into this mess.

Not every bank in the world dealt with subprime mortgages.  Many smaller banks continue to loan out actual money to actual people.

I think the days of the 0%-down mortgage is practically over, of course.  But as long as banks continue to create money by loaning it out; and those people pay it bank, then our cycle will continue.

They screw with the economy and are trying to deny the fact that we ARE in a depression because that would just cause freaking panic. The signs are all there, the name just hasn't been put onto the disease.

Definition and citation, please.  Just because a talking head says this, doesn't make it true.

I think we're in a reality check, but I don't see what's wrong with the underlying fundamentals.
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Umi.Ryuuzaki

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Re: 700 Billion Dollar Bailout
« Reply #11 on: September 29, 2008, 04:27:02 PM »

Lets add some facts from today's events:

-Bailout failed to pass.
-Dow Jones dropped 777.68 (almost 7%), NASDAQ 199.61 (9%), S&P 106.85 (almost 9%)
-Credits are frozen apparently (want info on that)
-Lots and lots of political bickering and fingerpointing

I think we need a overhaul in the financial markets; I also think there's a lack of trust in the market anymore. I feel sorry for those that just got into college and need the loans to go to college...
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JohnnyAR

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Re: 700 Billion Dollar Bailout
« Reply #12 on: September 29, 2008, 05:17:29 PM »

How did we get out of the 1st Great Depression?
I feel sorry for those that just got into college and need the loans to go to college

Damn and it'll be worse for when I go to college


We should sell some of our stuff, things that aren't weapons.


« Last Edit: September 29, 2008, 05:19:57 PM by JohnnyAR »
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Kazuko

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Re: 700 Billion Dollar Bailout
« Reply #13 on: September 29, 2008, 05:32:41 PM »

How did we get out of the 1st Great Depression?
FDR's New Deal act kinda helped

then along came World war II and that ended it

Didnt they teach you this in High school? fffff mine did like freshman year eons ago :U
« Last Edit: September 29, 2008, 06:24:12 PM by Kazuko »
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G.I.R

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Re: 700 Billion Dollar Bailout
« Reply #14 on: September 29, 2008, 05:38:11 PM »

How did we get out of the 1st Great Depression?
Theodore Roosavelt's New Deal act kinda helped

then along came World war II and that ended it

Didnt they teach you this in High school? fffff mine did like freshman year eons ago :U
Uh, don't you mean Franklin Delano Roosevelt?
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Kazuko

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Re: 700 Billion Dollar Bailout
« Reply #15 on: September 29, 2008, 06:23:36 PM »

How did we get out of the 1st Great Depression?
Theodore Roosavelt's New Deal act kinda helped

then along came World war II and that ended it

Didnt they teach you this in High school? fffff mine did like freshman year eons ago :U
Uh, don't you mean Franklin Delano Roosevelt?
:U im on cough medication so pffft to my typos I shall fix it
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JohnnyAR

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Re: 700 Billion Dollar Bailout
« Reply #16 on: September 29, 2008, 06:37:41 PM »

How did we get out of the 1st Great Depression?
FDR's New Deal act kinda helped

then along came World war II and that ended it

Didnt they teach you this in High school? fffff mine did like freshman year eons ago :U

Now you know how crappy my school is.
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Kazuko

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Re: 700 Billion Dollar Bailout
« Reply #17 on: September 29, 2008, 06:58:08 PM »

How did we get out of the 1st Great Depression?
FDR's New Deal act kinda helped

then along came World war II and that ended it

Didnt they teach you this in High school? fffff mine did like freshman year eons ago :U

Now you know how crappy my school is.
FFFF it doesnt matter, all schools teach it some how :U i went to a crappy school after my sophmore year (my fresh and soph years went to a lovely funded school that had a big spender douse his money into all programs) and It was still taught in the classes :U junior year i took us history so bleeh
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JohnnyAR

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Re: 700 Billion Dollar Bailout
« Reply #18 on: September 29, 2008, 07:10:22 PM »

How did we get out of the 1st Great Depression?
FDR's New Deal act kinda helped

then along came World war II and that ended it

Didnt they teach you this in High school? fffff mine did like freshman year eons ago :U

Now you know how crappy my school is.
FFFF it doesnt matter, all schools teach it some how :U i went to a crappy school after my sophmore year (my fresh and soph years went to a lovely funded school that had a big spender douse his money into all programs) and It was still taught in the classes :U junior year i took us history so bleeh

When my mom was in high school there was an elective for WWII I wish my school had an elective.
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Steve.Young

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Re: 700 Billion Dollar Bailout
« Reply #19 on: September 29, 2008, 07:25:15 PM »

The United States is already going to move about 32 billion dollars in weapons and other military equipment this year, up from last year and 2006.
The United States is THE largest weapons dealer in the world, with about 50% of the weapons supplied to developing nations and other US allies. Russia is second with about 20%-25%


Next idea...
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