700 Billion Dollar Bailout // Current

WHAT IF THE BAILOUT GAVE THE CONSUMER A LINE OF CREDIT TO BUY WHATEVER THE CONSUMER NEEDS?

What if the individual consumer who needs to pay their mortgage, or buy a car or new clothes for their job, or a washer and dryer, or an air conditioner or heater, or whatever - What if the CONSUMER HAD MONEY TO SPEND ON WHAT THEY NEED wouldn't EVERYTHING be more effecient than just giving money to the manufacturers and the banks? They're not going to spend it. They'll just hoard it and disburse it to the 'chosen few' and the rest of the people will have to wait for the 'trickle down effect' or pay outrageous interest rates to borrow OUR OWN money, while banks, financial instituations and auto manufacturers keep making exorbitant profits, building HUGE buildings and pay their executives bonuses so they can buy yachts and planes? WHAT THE... What good will that do the normal American Citizen?

AM I THE ONLY PERSON who thinks the LITTLE GUY should get a break for a change? This is an example of the REDISTRUBUTION OF WEALTH! Or, we can just keep on going like we've been going... bustin out butts, week after week, year after year, just to pay a mortgage and car payment when gas and interest rates keep going through the roof, insurance in no longer affordable, and don't even think you can afford to get your teeth fixed, eye glasses updated or go to the doctor - someone else is spending the PROFIT we create with our hard work, WE DON'T GET ANY OF IT back, for all of our commitment to our jobs, to our country, to our famililes - look what BUSH has done. I bet he didn't sell all of his oil wells to run this country into the ground and send our fathers, sons and daughters overseas to kill innocent people - because of OIL? I'm sure the price of gas hasn't bothered him a bit - until it started going down...

This system is MESSED UP - and government decision making is the reason. Not the small business that needs a loan, not the consumer who wants to have a good Christmas, not the people around the world who live in poverty and wait for the next bomb to explode - from political decisions based on lobbyists who work for BIG MONEY that wants more BIG MONEY - I'm sorry if they lose a lot - they have a LOT TO LOSE. I haven't lost much - but I've LOST EVERTHING, because I didn't have much to start with!

OK, so, except for CURRENT everyone just goes along with whatever is happening and we all say that there's not much we can do about it... well, THE RIGHT IDEA, AT THE RIGHT TIME, THAT CAPTURES THE ATTENTION OF THE RIGHT PEOPLE - WE CAN do something, and make a difference. So, don't give up on your ideas, someday, one of them might be the RIGHT ONE...

Redstar in the night... lets stop sending guns and tanks and send shovels and tractors instead - see how much COLLATERAL DAMAGE that decision brings...

We are all brothers and sisters and are all connected... If everyone is crying, how can I be happy, if everyone is laughing, how can I be sad?

Bless us all, and may we all make decisions based on kindness and compassion, and may the world change for the better for everyone...

Redstar-in the nightWhat if the individual consumer who needs to pay their mortgage, or buy a car or new clothes for their job, or a washer and dryer,... more

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How much is $700 billion?

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2 months ago

How McCain Stirred a Simmering Pot

Tell us why this is interestingWhen Sen. John McCain made his way to the Capitol office of House Minority Leader John A. Boehner (R-Ohio) just past noon on Thursday, he intended to "just touch gloves" with House Republican leaders, according to one congressional aide, and get ready for the afternoon bailout summit at the White House.

Instead, Rep. Paul D. Ryan (Wis.), the ranking Republican on the House Budget Committee, was waiting to give him an earful. The $700 billion Wall Street rescue, as laid out by Treasury Secretary Henry M. Paulson Jr., was never going to fly with House Republicans, Ryan said. The plan had to be fundamentally reworked, relying instead on a new program of mortgage insurance paid not by the taxpayers but by the banking industry.

McCain listened, then, with Sen. Lindsey O. Graham (S.C.), he burst into the Senate Republican policy luncheon. Over a Tex-Mex buffet, Sens. Robert F. Bennett (Utah) and Judd Gregg (N.H.) had been explaining the contours of a deal just reached. House Republicans were not buying it. Then McCain spoke.

"I appreciate what you've done here, but I'm not going to sign on to a deal just to sign the deal," McCain told the gathering, according to Graham and confirmed by multiple Senate GOP aides. "Just like Iraq, I'm not afraid to go it alone if I need to."

For a moment, as Graham described it, "you could hear a pin drop. It was just unbelievable." Then pandemonium. By the time the meeting broke up, the agreement touted just hours before -- one that Sen. Lamar Alexander (Tenn.), the No. 3 GOP leader, estimated would be supported by more than 40 Senate Republicans -- was in shambles.

An incendiary mix of presidential politics, delicate dealmaking and market instability played out Thursday in a tableau of high drama, with $700 billion and the U.S. economy possibly in the balance. McCain's presence was only one of the complicating factors. Sen. Barack Obama played his part, with a hectoring performance behind closed doors at the White House. And a brewing House Republican leadership fight helped scramble allegiances in the GOP.

It is unclear whether the day's events will prove to be historically significant or a mere political sideshow. If the administration and lawmakers forge an agreement largely along the lines of the deal they had reached before McCain's arrival Thursday, the tumult will have been a momentary speed bump. If the deal collapses, the recriminations spawned that day will be fierce.

But if a final deal incorporates House Republican principles while leaning most heavily on the accord between the administration, House Democrats and Senate Republicans, all sides will be able to claim some credit -- even if the legislation is not popular with voters.

"If there is a deal with the House involved, it's because of John McCain," Graham, one of the Arizonan's closest friends in the Senate, said yesterday.

In truth, McCain's dramatic announcement Wednesday that he would suspend his campaign and come to Washington for the bailout talks had wide repercussions.

***more at article!!!!
Tell us why this is interestingWhen Sen. John McCain made his way to the Capitol office of House Minority Leader John A. Boehner... more