Monday, September 29, 2008

Bailout!! and the Beat goes on.

And I ask you. What exactly is happening and what are the repercussions??? I have been watching the news all day from CNN, Fox and local news programs. I have heard, Wow! This is great we are finally making sense and listening to the people. Others are saying this is Crisis and no one is doing anything. Why don't they pass this bill. I heard one person saying this was great because it will make the cost of oil to plummet. It already dropped $10.00 and it will continue to drop as long as the bailout isn't signed. Once it is the cost will again skyrocket. Others are saying people have lost their 401K's . Many people have lost everything. All Democratic Representatives who voted for the bill are blaming the Republicans for its demise. I think they should be looking at their own house and see who voted for and who voted against. It was very visible that many Democrats voted against the bill.
The powers that be should be having hearings and get people who know what to do to at least have a voice in what should be done, if anything.
"There is more than one way to skin a cat" The average individual does not know what happened and how to get us out of it and I dare say many in congress are part of the unknowing.
Where this ends I don't know, but I do know the people who were aware and got us into this mess sure as heck shouldn't be part of the solution. How can they now stand up and point fingers elsewhere and wail "We should be signing this bailout So goes politics. I think what was done today, was in our best interest and should be hail as a victory for the taxpayer because to do so without hearings is irresponsible. Now perhaps we can sit down and look at who caused this and what is the best way to address it, with the right accountants to look at the problems and submit solutions, Now is the time to come together as Americans not Republican nor Democrat nor Independents,but Americans and work toward an acceptable solution to this crisis and initiate solutions and also safeguards against individuals who cannot afford housing and other assets to be disapproved for such. I'm not an economics major, but for years I have looked at the cost of real estate and say, "Wow! I cannot undrstatnd how these families can get financed for the soaring cost of these houses..I certainly can't. Evidently, they coudn't either.

9 comments:

AI said...

Many questions indeed Tapline...It is hoped that all the discussions in Washington will lead to real reform not just a bailout for the sake of short term remedies... Have a look at this if you get time....

http://australasianliberal.blogspot.com/2008/09/wall-st-and-ayn-rand-pt-2.html

~Otto

Trader Rick said...

I didn't qualify for those easy mortgages--didn't have the right profile...

Mustang said...

A "solution" has to be something beyond a short meeting in the men's room. Four hundred economists (including three Nobel Laureates) urged Congress to slow down, hold hearings, and provide a real (as opposed to a knee jerk) solution.

What we got is the knee jerk. The American people spoke loudly, and both Congress and the White House claim that "we don't understand." Well ... there is always another possibility: we do understand.

My non-medical/psychiatric opinion is that Pelosi is a pathological liar. Yesterday I posted two YouTube videos which chronicle what actually happened to bring us to the verge of financial market collapse; the record clearly shows that Democrats led us to this point in time through racial politics. There has been a continuation of the liberal saw creating dependency among minorities where none should exist (enslavement, is yet another word), and keeping these people in that position because is benefits … um ... Democrats.

I sent an email to Bill O’Reilly last night – who informed his audience that this issue was much larger than petty ideological differences. Of course, he never (ever) reads my no bloviating messages (I’m beginning to think he discriminates against old white guys) … but here is what I said. “You are wrong. There is nothing more important than this ideological principle. If an armed force attacked the USA, our choices would be to fight and possibly die, or surrender. Surrender is not an option, and that is equally true about the notion of giving up American capitalism to the dictates of Democratic Marxists. And if we give up Americana, we will never get it back.”

Obviously, I disagree with McCain/Obama on this issue. I need to ask (albeit, rhetorically), should we not seize upon this unsatisfactory situation as an important lesson to slothful Americans, who drive themselves into the poor house through credit card debt, luxury autos, and houses they cannot afford? Personally, I believe the press and the government is “spinning” the deal. I think this because I just looked outside and guess what? The sky isn’t falling. If we allow government to “fix this problem” with OUR money, will the irresponsible citizens among us learn anything at all?

crabby old man said...

I'm not smart enough to understand what the ramifications of the passing or defeat of the bailout, but we do need a change with the change being less government. All our government needs is a strong militia & get out of business.

crabby old man said...
This comment has been removed by a blog administrator.
Tapline said...

Crabby, Thanks for stopping by....You and me both...I do recommend a visit to AI though, He as a good historical document on the cause of this crisis which is not being voiced completely by anyone that I know of....stay well.

In_spired said...

tapline: All this is about to eat my sack lunch! I don't know enough about high finance to really understand...but it's all we're hearing. What bothers me (and, I'm told..."It's just politics") is the blaming, the finger pointing, the back stabbing, and the lying that is going on. One day last week, all I heard on any T.V. news was that it was the fault of President Bush and his administration...just like it's been his fault for everything else.(hence my spoof post on the faults of the president) If this is true, why do we have a Cabinet and a Congress? "I just don't get it". I've yet a great deal to learn about politics!!

It's not my nature to be so negative and distrustful, but I don't feel like we can trust ANYONE!

Tapline said...

Inspire, I can relate to your complete lack of trust for any elected official. Who can you believe?? At every level lies are being told, or so many miss-statements that a person does not know what is the truth and what isn't. On one post one reads OB was sueing banks for not following through on subprime loans. Now he is saying pay it off or yea on the bailout....We don't know where to turn follow out with AI and see what he has to say about this crisis..my advise...stay above the fray.....and ask the man who knows he knows the outcome already....stay well......

Gayle said...

Actually, I do understand what happened and it all began to happen as far back as the Carter administration. Mustang is right - the American people spoke loudly, but the politicians aren't listening. Even President Bush isn't listening and neither is McCain. Pelosi probably laughs herself to sleep every night!

We now have our Government running the banking system in this country and socialism has begun. If Obama is elected we are going to see a lot more of it.