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Dire warnings fail to sway senators on big bailout from news.yahoo.com
WASHINGTON - Refusing to be pushed, Republicans and Democrats alike rebuffed dire warnings Tuesday from the government's top economic officials of recession, layoffs and foreclosed homes if Congress doesn't quickly approve the administration's emergency $700 billion financial bailout plan.
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The legislation the administration is promoting would allow the government to buy bad mortgages and other rotten assets held by troubled banks and financial institutions. Getting those debts off their books should bolster those companies' balance sheets, making them more inclined to lend and easing one of the biggest choke points in the credit crisis. If the plan works, it should help lift a major weight off the national economy that is already sputtering.
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Sen. Jim Bunning, R-Ky., said, "This massive bailout is not a solution. It is financial socialism and it's un-American."
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Democrats also were pushing proposals to let the government take some type of stake in the companies that it helps. The administration has balked at that, fearing it would discourage financial companies from getting the help they need through the bailout, thereby blunting the plan's effectiveness.

tifferss said...

NO BAILOUT! I will fight and hold ground, you need help, just ask! I will help aginst the bailout!

9/24/08 7:32pm about on Sep 24th, 2008 at 7:32pm


OKCJimmy said...

This is exactly a model of what American Government is not supposed to be. The small percentage of America with more than copious amounts of money want to protect their "earnings" and milk the rest of America for whatever they have left. It is greed of the ugliest kind. NO MORE RELIEF FOR THE RICH! It is time for the piggies in the nation to lose some of their fat!

9/24/08 10:55pm about on Sep 24th, 2008 at 10:55pm


rich said...

I don't that we should have the biggest spending bill push through in a weekend by people running on coffee and pizza. NO on bail out, let the free market work. Is this still goverment by the people for the people????

9/28/08 6:52pm about on Sep 28th, 2008 at 6:52pm


smallz said...

Beyond not supporting the bailout, these overpaid government workers should be put in jail, starting with Paulson, Greenspan and Bernanke. The mainstream media reported that the average Goldmine-sacks salary (secretaries included) was $600,000.00 per year! God only knows what Paulson was earning when he was running Goldmine-Sacks a few years back. Yes America, the same hank Paulson who is now treasury secretary was working for Goldmine-Sacks in packaging up toxic subprime securities that wrecked Wall Street. Now he's leading the charge for the "bailout". Am I on prescription drugs? These same lying politicians (black and white) who received THOUSANDS in political contributions from these same financial institutions that they are working to "bailout" should be investigated by The FBI for Anti-trust and RICO. All lawmakers are in support of the bailout should be investigated to determine who has received campaign contributions and personal stakes in these financial companies. This bailout being "structured" by these same greedy politicians is a conflict of interest. The conflict will come from the interest that will be passed from the shysters to the taxpayer. Lawmakers will jump at passing this bill for the simple fact that Paulson’s plan includes immunity that would preclude any investigative body The FBI from investigating any type of fraud. This plan is the capstone of a multination money laundering scheme being sold as a “rescue”. The question is who does this plan actually rescue?

9/28/08 7:36pm about on Sep 28th, 2008 at 7:36pm


maebeat said...

will i get my money back? doubt it.

9/29/08 6:42am about on Sep 29th, 2008 at 6:42am


pdmd said...

NO ON BAILOUT The only way to clearly see the bailout is to acknowledge that the "1%" who have all the wealth have UNIONIZED! What they are saying is that they are going to strike. They want things their way. Now which party is the big union party? Their threats should be ignored. Now that's public confidence.

9/29/08 5:44pm about on Sep 29th, 2008 at 5:44pm


Tucker said...

No way should there be a bail out. Let the market clean itself up.LET THEM EAT CAKE.

9/29/08 7:13pm about on Sep 29th, 2008 at 7:13pm


ifall said...

I AM ANGRY.REALLY REALLY ANGRY!!!! We need to vote anyone out of office that says yes to the bailout. We need to take a stand against this government. I thought Hitler was dead but he is not, he came back as many different political leaders in this country. (U.S.A. just in case the politicians forgot where their at)and these people don't even have the guts to televise this action they are voting on today (on behalf of people Yea right )They are hiding like monkey's. Politicians' new promise to the American People. I HEAR EVIL, I SEE EVIL, I SPEAK EVIL AND I AM GOING TO SCREW THE MAJORITY FOR A FEW.

10/3/08 6:58am about on Oct 3rd, 2008 at 6:58am


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