Since this has become so very political it may be better to just let the market handle the current crises. I was all for letting the government bailout the market, but after seeing the current mess that they are making I think it is time to let capitalism work. After all why would you let those who caused this screw up try and repair it? Lack of oversight, pushing for mortgages for those who could not afford it, and a lot of other things. I think that if we let the market work we may actually get through this faster, though there may be causulties, and I will probably lose a lot of my money. Also the American people do not want this bailout, and I think that they do know the consiquences.
Look to the 'press' or Media for 'who began using the 'Bailout' term'. Now in an attempt to get the public swayed, media is being asked to 'reframe' the terminology. http://biz.yahoo.com/ap/080930/bailout_all_in_a_name.html
But of course, being the media, they find scandal in even that simple request of trying to think of the national interest.
You are correct, the term "bailout" is a misnomer, it was as originally proposed an asset sale from private corporations to the federal government, or a cash infusion proposal. However, who began using the description "bailout" to describe the transaction?
If it is simply a sale of mortgages from private holders to the federal government, then it was unnecessary to require caps on executive pay, the issuance of preferred stock, and "help for homeowners" in the bill.
Who inserted those provisions?
You are correct, "bail out" is a misnomer, it is actually a cash sale of assets of a private corporation to the federal government. However, who used the term "bailout" to describe the plan?
Since it is not a "bailout" we did not need limitations on executive pay, issuance of stock to the government or need help for the "homeowners" in the bill.
It was simply an attempt to purchase assets and set market prices for the assets at the same time. Who put all the additional conditions on the transaction?
gee, and he was one of the only really honest politicians in the past 50 years.
it is unfortunate that honesty and ethical values do not seem to work well in washington.
he has been far more of a moral shining light since leaving office. i wonder how many republican office holders spend their post-office years away from the golf course, like Jimmy has?
I disagree, I own a business, plenty of cash flow. I have numerous accounts with cash???
For a Friggin Rainy Day!! Guess what today is? I can last with my employees for about 9 months.
Do you think the government is going to Fail?
No. Vets get there pensions, Mom gets her SSN, Welfare Moms bring on those food stamps, WIC, etc.. CASH is flowing, if you don't have cash, bring your gold and silver. Your money is good in my grocery store.
Your paper bag does not hold water!
It is a bailout no matter what you think it is. That may be simplistic but it is acurate. And maybe you do not trust the people of this country, but I think that they may be right. What gurantee do we have that this bailout will work? None Lets give Congress time to do their best as they can and stop pointing fingers, or nothing will get done.
Lets all stick our heads in the sand when it comes to the great democrats. And hang the republicans since no matter what has happened it is all their fault, Yea Right. I see all this about how stupid it was to attack Iraq. But what if we had tried to stop Germany and Japan before world war 2 had started, how many lives would have been saved on all sides? The only reason you can say that this is not valid is because we can not rewrite history. Though the democrats and their partners in the press seem to be doing a very good job of this. If you can not see this then you are being blinded by your own political views and have a very closed mind.
I think if Barney Frank, Harry Reid and Polosi had not done so much political posturing and playing the blame game in front of the camera the American public might have had a different attitude.