Government Bailout

[dan]

Well thankfully the Govt. today rejected the 700 Billion Dollar bailout. (no thanks to Jim Marshall who voted for it) Jim Marshall says they are going to take the bill - rewrite it and re-present it. I for one do not believe this is a function of our govt - although they do have their fingers in a lot of places it doesn't belong.

Anyway, I've tried to reach Jim Marshall, his web site etc... to no avail. So I figured I would just post it here.

President Bush, Jim Marshall and the rest of you folks,

I will admit to making some bad investments. My short site and desire to make a "quick buck" has put my finances in ruin. My poor judgement will effect everyone from my family, my creditors and my creditors families. If you pass this bill please add my name to your list and send me between $100,000 and $150,000. This will allow me to pay off my house, my car and the rest of my bills.

Thank goodness for your support or I would have to be accountable for my actions.

Now if reality if you pass this bill, it will hurt me more financially than if you let the market and banking industry fix their own problems. I do not deny that the latter will have adverse effects but.... it's time to pay the piper. Anyway where are you going to get the 700 Billon? Are you going to borrow more from Saudi Arabi or China?

Tuesday Oct 1 2008

I was in the truck today listening to the radio. The senate is due to re-vote tonight. Here is what I heard from Saxby Chambliss who by the way is voting yes. If this makes sense to you let me know. To paraphase --- The bad debt we are (govt) are buying for 700 billion has a lot of viable loans that people are making payments on. (good loans) So, this may cost the tax payers nothing since there are still a lot of good loans in the packages we are buying out.

HUH? If they are that good Saxby, why the devil are we buying them to start with? Somebody help me out here please. Is anybody minding the store?

Well this does settle some question on WHO I'M NOT VOTING FOR.

Dan

[bryce]

It really scares me that this thing is getting pushed through so fast. As Newt said, the government was designed such that there would be public discourse on these type of things, they'd get kicked around for a while, and the will of the people would get done.

Everyone seems to be crying about how we need to do this *NOW*. Barely anyone is saying "Let's do it right."

[dan]

I agree with 100% Bryce. It would appear the Senate just pushed their version through. I really wish I knew the true story behind whose butt they are trying to save - their own or wall street. If the House pushes this through on Friday then we are post poneing the inevatable. There will still be 700 to 800 billion to pay back, so the problem will still exist. I doubt that credit card companies and mortage lenders will change their ways so you add to the existing problem.

Everyone is so worried about terrorism and attacks, well we're about to sell what's left. Why fight for it when you can buy it.

America - a fully owned subsidary of Saudi Arabia.

except from: http://mwhodges.home.att.net/nat-debt/debt-nat-a.htm
"America has become more debt-dependent - - than ever before
with total debt of $53 trillion, or $175,154 per man, woman and child
and each added dollar of new debt produces less increased national income"

[RevOxley501]

I just want you all to know that i voted for an campaigned for Ron Paul....


He voted against the Bailout
(and every other pork barrell project in the last 12 years)

[dan]

Rev if only Ron Paul had a slim chance of winning, life would be good. He would get my vote too!

Speaking of votes Please remember on election day that both Jim Marshall and Saxby Chambliss voted to "spread the wealth" of our tax dollar on the bailout -- opps -- rescue. AIG insurance jumped on the oppurtuntiy and took an expensive hunting trip (on our tax dollar). Although Jim did email me and send me a letter he neglected to send me the $100,000 I requested if the bailout -- opps -- rescue bill was passed (see previous post).

So please remember NOT TO VOTE FOR THEM at the polls. Send the message to those that spend our hard earned dollar that we are not going to put up with this and vote their tails out!

do you realize that the gov't buying banks shares and mortgages pretty much make us more like the French and worse than that it is plain out socalist.

[mag5]

I heard today that many of the funds that are receiving the bailout are using that money to pay out dividends.