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Blue Cafe
Do you think it's going to be approved?
How will this overall economy? and what other major corporations are nearing extinction here?
When a consumer is insolvent, its called a Bankruptcy, this is not a bail-out , its plain and simple Wall-street and our own Government?
There were republicans that did not want to vote for this bailout of Wall Street and John McCain changed their minds and brought them together to work on a plan that would benefit the tax payers, but after hearing Pelosi's ignorant partisan speech they said "forget it." The republicans worked just as hard on coming up with the proposed plan and Pelosi turned it into a political bashing of the Bush administration. The dems are majority in congress and if they feel this is so important then they should have asked Obama to talk to those 96 or 94 dems who voted no and Obama should have made a stand one way or the other. He still hadn't gave his answer as a yes or no for this proposed plan. Per usual, he probably would have voted "present."
The Oracle
wondered WHAT IF NOBODY PAYS THEM BACK (or are unable to)?? ....hahahahaha........economics gone mad.
The big companies couldn't pay their bills, maybe because a lot of clients couldn't pay THEIR bills, but the big companies DID waste an awful lot, too.A lot of defaulted mortgages got paid off (..delivering the expected profits to the mortgage companies), auto co.'s received cash reserves to pay their ongoing bills(..which are still ongoing), and banks were given cash so that they could still lend money (..without having to lend their own).But whose money was it that got handed out???It couldn't have been tax monies, ..because that account has been overdrawn for years!Were profit-promising bonds sold to people who DO have money, to get that money to Congress, so that Congress could turn around and give it to those big companies who can't pay their bills anymore?Or did Congress just ask the Mint to print up several trillion new dollar bills? ..and then just hand those out to the companies?Doesn't that weaken the dollar? ..dilute its value? ..reducing everyone's bank account?