Comments on: Do you oppose the $700 billion Wall Street bailout? Click here

A flurry of petition-based Web sites have popped up in the last few days with one purpose: persuading Congress to snub the $700 billion Wall Street bailout.

[brendaturner1]

NO! NO! NO! Ican not believe that the Democrates are guilible enough to fall for the Bush Administration trickery once more. The Republicans are pawning there problem child, the Bush Administration, off on the Demoncrates. I would be willing to bet that this crisis was congered up to give McCain an advantage by deplicting McCain as a maverick for the people who will not allow the big bad wolf to ripe off taxpayers yet again. Unfortunately, Obama will not be the victor of tonight's debate because he wil be unprepared for the Bush/McCain one, two sneek attack. Wake up Democrates, can't you see McCain and Bush are setting you up, Dummies?

[Kesteral]

Giving X amount of free money to every single person is just plain stupid. Sure, it might (maybe sorta kinda) get people out of the current financial hole they are in, but at the cost of very bad inflation. Anyone wonder where this 1.6 trillion dollars is coming from? Taxes are not being raised, so the average American citizen isn't paying for it. Most of the money is going to help out businesses, so THEY aren't paying for it. What is happening is that congress will be signing a couple of trillion dollars into existence with no value to back it up. Sure, it will help in the short run, say the next few weeks... perhaps even months. After that the zero value money added to the economy will make itself felt in rising prices and costs. Wages will be very slow to follow, and businesses will be struggling even harder than before. A free gift bailout is not going to work.

[Harvybing]

BILL CLINTON SAYS DEMOCRATS TO BLAME FOR FANNIE MAE MELTDOWN

President Bill Clinton told ABC News That the blame for the Fannie Mae Meltdown Lies squarely at the feet of DEMOCRATS who blocked efforts to regulate and investigate Fannie Mae. You have to admire his candor -

See The Jim Angle Report Which Links To The Clinton Interview-
http://www.youtube.com/watch?v=AHj8-HSi5AA&eurl=

Watch The Clinton Interview On ABC News ---
http://blogs.abcnews.com/politicalradar/2008/09/bill-clinton-do.html --

Hear Barney Frank On Video Stating That There Is No Crisis At Fannie Mae -
http://mypetjawa.mu.nu/archives/194210.php -

I think there are 2 former CEOs of Fannie Mae, a former assistant CEO, at least Two United States Senators and at least one member of the US House of Representatives who should GO TO JAIL for this! They were involved in BRIBING members of Congress to block investigations of Fannie Mae Abuses.

[Mauial]

How could such a great country contemplate such a stupid plan? These bailouts collectively exceed the $1.1 trillion in taxes paid by all individual federal tax filers last year. If Paulson really wants to throw $700 billion at the problem and hope it helps, how about just taking a one year long federal tax holiday for all individuals. It would likely bankrupt the government but it would go farther to strengthen underlying mortgages and spur the economy than anything they are discussing. When an idea like eliminating all federal taxes for a year is fiscally more prudent than the proposed bailout, you know we are in trouble.

[Jade_River]

Distribution to the bottom to pay upwards makes the most common sense however that is accomplished. Making the top heavy more heavy will not solve anything. If anyone thinks these immoral greedsters who have no qualms about charging 30% interest to those who can least afford will subbenly have a noral awakening your kidding yourself. Pay off the bad debt rather than buy it.

[corkchasyoko]

Both are governed by MONEY and POWER.

[fdrman]

I absolutely oppose the Paulson bailout swindle. It's thievery anyway you cut it.
The only way to deal with this current financial collapse is based on the way FDR dealt with the 1929 financial crash. (See below) Today, the threat is much bigger and far reaching since the the global financial system is based on the dollar and is all inter-connected. As goes the U.S. economy, so goes the rest of the world's economy. This is already happening world-wide.

Also, 200 leading economists can't be wrong in opposing the bailout, as Sen. Richard Shelby (R) has pointed out:

"To the Speaker of the House of Representatives and the President pro tempore of the Senate:

As economists, we want to express to Congress our great concern for the plan proposed by Treasury Secretary Paulson to deal with the financial crisis. We are well aware of the difficulty of the current financial situation and we agree with the need for bold action to ensure that the financial system continues to function. We see three fatal pitfalls in the currently proposed plan:

1) Its fairness. The plan is a subsidy to investors at taxpayers? expense. Investors who took risks to earn profits must also bear the losses. Not every business failure carries systemic risk. The government can ensure a well-functioning financial industry, able to make new loans to creditworthy borrowers, without bailing out particular investors and institutions whose choices proved unwise.

2) Its ambiguity. Neither the mission of the new agency nor its oversight are clear. If taxpayers are to buy illiquid and opaque assets from troubled sellers, the terms, occasions, and methods of such purchases must be crystal clear ahead of time and carefully monitored afterwards.

3) Its long-term effects. If the plan is enacted, its effects will be with us for a generation. For all their recent troubles, America's dynamic and innovative private capital markets have brought the nation unparalleled prosperity. Fundamentally weakening those markets in order to calm short-run disruptions is desperately short-sighted.

For these reasons we ask Congress not to rush, to hold appropriate hearings, and to carefully consider the right course of action, and to wisely determine the future of the financial industry and the U.S. economy for years to come."


Signed (updated at 9/25/2008 8:30AM CT)

Acemoglu Daron (Massachussets Institute of Technology)
Adler Michael (Columbia University)
Admati Anat R. (Stanford University)
Alexis Marcus (Northwestern University)
Alvarez Fernando (University of Chicago)
Andersen Torben (Northwestern University)
Baliga Sandeep (Northwestern University)
Banerjee Abhijit V. (Massachussets Institute of Technology)
Barankay Iwan (University of Pennsylvania)
Barry Brian (University of Chicago)
Bartkus James R. (Xavier University of Louisiana)
Becker Charles M. (Duke University)
Becker Robert A. (Indiana University)
Beim David (Columbia University)
Berk Jonathan (Stanford University)
Bisin Alberto (New York University)
Bittlingmayer George (University of Kansas)
Boldrin Michele (Washington University)
Brooks Taggert J. (University of Wisconsin)
Brynjolfsson Erik (Massachusetts Institute of Technology)
Buera Francisco J. (UCLA)
Camp Mary Elizabeth (Indiana University)
Carmel Jonathan (University of Michigan)
Carroll Christopher (Johns Hopkins University)
Cassar Gavin (University of Pennsylvania)
Chaney Thomas (University of Chicago)
Chari Varadarajan V. (University of Minnesota)
Chauvin Keith W. (University of Kansas)
Chintagunta Pradeep K. (University of Chicago)
Christiano Lawrence J. (Northwestern University)
Cochrane John (University of Chicago)
Coleman John (Duke University)
Constantinides George M. (University of Chicago)
Crain Robert (UC Berkeley)
Culp Christopher (University of Chicago)
Da Zhi (University of Notre Dame)
Davis Morris (University of Wisconsin)
De Marzo Peter (Stanford University)
Dubé Jean-Pierre H. (University of Chicago)
Edlin Aaron (UC Berkeley)
Eichenbaum Martin (Northwestern University)
Ely Jeffrey (Northwestern University)
Eraslan Hülya K. K.(Johns Hopkins University)
Faulhaber Gerald (University of Pennsylvania)
Feldmann Sven (University of Melbourne)
Fernandez-Villaverde Jesus (University of Pennsylvania)
Fohlin Caroline (Johns Hopkins University)
Fox Jeremy T. (University of Chicago)
Frank Murray Z.(University of Minnesota)
Frenzen Jonathan (University of Chicago)
***** William (University of Chicago)
Fudenberg Drew (Harvard University)
Gabaix Xavier (New York University)
Gao Paul (Notre Dame University)
Garicano Luis (University of Chicago)
Gerakos Joseph J. (University of Chicago)
Gibbs Michael (University of Chicago)
Glomm Gerhard (Indiana University)
Goettler Ron (University of Chicago)
Goldin Claudia (Harvard University)
Gordon Robert J. (Northwestern University)
Greenstone Michael (Massachusetts Institute of Technology)
Guadalupe Maria (Columbia University)
Guerrieri Veronica (University of Chicago)
Hagerty Kathleen (Northwestern University)
Hamada Robert S. (University of Chicago)
Hansen Lars (University of Chicago)
Harris Milton (University of Chicago)
Hart Oliver (Harvard University)
Hazlett Thomas W. (George Mason University)
Heaton John (University of Chicago)
Heckman James (University of Chicago - Nobel Laureate)
Henderson David R. (Hoover Institution)
Henisz, Witold (University of Pennsylvania)
Hertzberg Andrew (Columbia University)
Hite Gailen (Columbia University)
Hitsch Günter J. (University of Chicago)
Hodrick Robert J. (Columbia University)
Hopenhayn Hugo (UCLA)
Hurst Erik (University of Chicago)
Imrohoroglu Ayse (University of Southern California)
Isakson Hans (University of Northern Iowa)
Israel Ronen (London Business School)
Jaffee Dwight M. (UC Berkeley)
Jagannathan Ravi (Northwestern University)
Jenter Dirk (Stanford University)
Jones Charles M. (Columbia Business School)
Kaboski Joseph P. (Ohio State University)
Kahn Matthew (UCLA)
Kaplan Ethan (Stockholm University)
Karolyi, Andrew (Ohio State University)
Kashyap Anil (University of Chicago)
Keim Donald B (University of Pennsylvania)
Ketkar Suhas L (Vanderbilt University)
Kiesling Lynne (Northwestern University)
Klenow Pete (Stanford University)
Koch Paul (University of Kansas)
Kocherlakota Narayana (University of Minnesota)
Koijen Ralph S.J. (University of Chicago)
Kondo Jiro (Northwestern University)
Korteweg Arthur (Stanford University)
Kortum Samuel (University of Chicago)
Krueger Dirk (University of Pennsylvania)
Ledesma Patricia (Northwestern University)
Lee Lung-fei (Ohio State University)
Leeper Eric M. (Indiana University)
Leuz Christian (University of Chicago)
Levine David I.(UC Berkeley)
Levine David K.(Washington University)
Levy David M. (George Mason University)
Linnainmaa Juhani (University of Chicago)
Lott John R. Jr. (University of Maryland)
Lucas Robert (University of Chicago - Nobel Laureate)
Luttmer Erzo G.J. (University of Minnesota)
Manski Charles F. (Northwestern University)
Martin Ian (Stanford University)
Mayer Christopher (Columbia University)
Mazzeo Michael (Northwestern University)
McDonald Robert (Northwestern University)
Meadow Scott F. (University of Chicago)
Mehra Rajnish (UC Santa Barbara)
Mian Atif (University of Chicago)
Middlebrook Art (University of Chicago)
Miguel Edward (UC Berkeley)
Miravete Eugenio J. (University of Texas at Austin)
Miron Jeffrey (Harvard University)
Moretti Enrico (UC Berkeley)
Moriguchi Chiaki (Northwestern University)
Moro Andrea (Vanderbilt University)
Morse Adair (University of Chicago)
Mortensen Dale T. (Northwestern University)
Mortimer Julie Holland (Harvard University)
Muralidharan Karthik (UC San Diego)
Nanda Dhananjay (University of Miami)
Nevo Aviv (Northwestern University)
Ohanian Lee (UCLA)
Pagliari Joseph (University of Chicago)
Papanikolaou Dimitris (Northwestern University)
Parker Jonathan (Northwestern University)
Paul Evans (Ohio State University)
Pejovich Svetozar (Steve) (Texas A&M University)
Peltzman Sam (University of Chicago)
Perri Fabrizio (University of Minnesota)
Phelan Christopher (University of Minnesota)
Piazzesi Monika (Stanford University)
Piskorski Tomasz (Columbia University)
Rampini Adriano (Duke University)
Reagan Patricia (Ohio State University)
Reich Michael (UC Berkeley)
Reuben Ernesto (Northwestern University)
Roberts Michael (University of Pennsylvania)
Robinson David (Duke University)
Rogers Michele (Northwestern University)
Rotella Elyce (Indiana University)
Ruud Paul (Vassar College)
Safford Sean (University of Chicago)
Sandbu Martin E. (University of Pennsylvania)
Sapienza Paola (Northwestern University)
Savor Pavel (University of Pennsylvania)
Scharfstein David (Harvard University)
Seim Katja (University of Pennsylvania)
Seru Amit (University of Chicago)
Shang-Jin Wei (Columbia University)
Shimer Robert (University of Chicago)
Shore Stephen H. (Johns Hopkins University)
Siegel Ron (Northwestern University)
Smith David C. (University of Virginia)
Smith Vernon L.(Chapman University- Nobel Laureate)
Sorensen Morten (Columbia University)
Spiegel Matthew (Yale University)
Stevenson Betsey (University of Pennsylvania)
Stokey Nancy (University of Chicago)
Strahan Philip (Boston College)
Strebulaev Ilya (Stanford University)
Sufi Amir (University of Chicago)
Tabarrok Alex (George Mason University)
Taylor Alan M. (UC Davis)
Thompson Tim (Northwestern University)
Tschoegl Adrian E. (University of Pennsylvania)
Uhlig Harald (University of Chicago)
Ulrich, Maxim (Columbia University)
Van Buskirk Andrew (University of Chicago)
Veronesi Pietro (University of Chicago)
Vissing-Jorgensen Annette (Northwestern University)
Wacziarg Romain (UCLA)
Weill Pierre-Olivier (UCLA)
Williamson Samuel H. (Miami University)
Witte Mark (Northwestern University)
Wolfers Justin (University of Pennsylvania)
Woutersen Tiemen (Johns Hopkins University)
Zingales Luigi (University of Chicago)
Zitzewitz Eric (Dartmouth College)

http://faculty.chicagogsb.edu/john.cochrane/research/Papers/mortgage_protest.htm

It's time to listen to the wise words of leading economist, Lyndon LaRouche:

"Lyndon LaRouche responded, instantly, to Treasury Secretary Henry Paulson's 10 A.M. (EDT) press conference, unveiling what promises to be a multi-trillion-dollar bailout of the speculative bubble. "This latest action by Paulson, Bernanke, et al. is pure thievery. This is a swindle, it is corruption beyond belief," LaRouche declared.

While refusing to offer any details, Paulson announced another Treasury Department and Fannie Mae/Freddie Mac bailout of the worthless mortgage paper held in the commercial banking system, while promising new legislation to extend the bailout to other financial institutions not covered by the Treasury Department and the Federal Reserve. "This," LaRouche declared, "means trillions of dollars in new bailouts, at taxpayers' expense. They are trying to bail out a corpse. Rigor mortis has already set in."

LaRouche concluded by reiterating that his three-step solution represents the only available means of averting a total global collapse, and an onrushing new dark age. "Paulson continues to promote policies that mirror the 14th-Century Dark Age," LaRouche concluded.

LaRouche has called on Congress to immediately pass his Homeowners and Bank Protection Act; to establish a two-tier credit system, to defend the U.S. dollar, and launch massive infrastructure development projects; and for the U.S. government to join with Russia, China, and India, in convening an immediate New Bretton Woods conference, to put the global financial system through bankruptcy reorganization, and establish a new, fixed-exchange-rate system, modeled on Franklin Roosevelt's original Bretton Woods system.

"Make no mistake about it," LaRouche concluded. "Either Congress and the Executive Branch wake up to reality, and implement my three-step program, or this country will not survive the consequences of the greatest financial collapse since the 14th-Century Dark Age."

http://www.larouchepub.com/lar/2008/3538lar_hits_bailout.html

[Jade_River]

Hmm... Stock prices are falling, oil prices are plunging, housing is spiraling downward; sounds like things are now becoming affordable for the average American. Why is it we only let market forces work when the rich are getting richer. Government needs to step aside on this one, then tax the hell out of those Wall Street losers who mined millions from the poor on mortgages and obscene credit card interest.

[Harvybing]

BILL CLINTON SAYS DEMOCRATS TO BLAME FOR FANNIE MAE MELTDOWN

President Bill Clinton told ABC News That the blame for the Fannie Mae Meltdown Lies squarely at the feet of DEMOCRATS who blocked efforts to regulate and investigate Fannie Mae. You have to admire his candor -

See The Jim Angle Report Which Links To The Clinton Interview-
http://www.youtube.com/watch?v=AHj8-HSi5AA&eurl=

Watch The Clinton Interview On ABC News ---
http://blogs.abcnews.com/politicalradar/2008/09/bill-clinton-do.html --

Hear Barney Frank On Video Stating That There Is No Crisis At Fannie Mae -
http://mypetjawa.mu.nu/archives/194210.php -

I think there are 2 former CEOs of Fannie Mae, a former assistant CEO, at least Two United States Senators and at least one member of the US House of Representatives who should GO TO JAIL for this! They were involved in BRIBING members of Congress to block investigations of Fannie Mae Abuses.

[w5cdt]

It all boils down to something your granddaddy could have told you 100 years ago:
"Son, don't lend money to people who can't pay it back" "If you do...it's *your* fault".

Fannie and Freddie went with the flow just like everyone else.

Bad idea. Ask your granddaddy.

[djlny]

For those who claim that it was Fed inaction that brought about the great depression please go back and re-read your history books, a little history lesson might be in order. Actually the fed was quite active, however it was in tightening monetary policy - reducing liquidity and spending - not a so called "laissez faire" approach. They set up huge overhauls and oversight (anyone remember Glass-Steagall?). The actual costs of the bailout is a total unknown. This depends upon the resale value of the underlying assets and their thoughtful disposal. In a declining market where the bulk of these properties are concentrated in areas where JP Morgan Chase estimates a fall of 40 to 60% and when factored in with the maintenance and liability for this huge real estate pile up you are talking about net zero for the taxpayer at best. A more realistic assessment is on the order of 2 trillion dollars according to Goldman Sachs and it may not even work! That is 30,000 per household and I didn't even borrow money - how come I am out 30,000 so some overweight deushbag driving his Hummer to his zero down McMansion can suck off me and my kids?!! I don't know what people in Washington and Wall street are Smokin' but it's strong stuff and they want us all to take a puff of the same pipe

P.S. Limiting pay for bankers means that the smart ones will be working for someone else screwing over their inept colleagues who work for the public and they will get the better of them every time. As much as it stinks, it is better to have the camel in your tent peeing out than outside of your tent peeing in.

[w5cdt]

OK..you gave us a $ tally in the article but other than that the average American has been kept in the dark about the details of this bailout. Specifics like executive pay, golden parachutes, pay back plans, etc are all still in the dark. How can the average schmo have an intelligent opinion about the details of this bailout? On the surface the bailout looks like socialized banking. "Socialized" is a word Republicans like to toss at the the Democrats. But who got us into this mess? Which Party's politics prevailed over this debacle? The reason the Republicans in the House are rebelling against this bailout is the fact that they are probably going to lose their seats in the House. That's a bad reason to screw up the bailout talks and wreaks of self-interest. It is crazy to think that something as complicated as this bailout can be hammered out by 535 lawmakers and one President in only a week or two. What a joke. So much for the Gramm-Leach-Bliley Act of 1999. Another bad idea by the Republicans borne out by the finanical crash of the past week. Republicans don't want de-regulation they seem to want anarchy. -->Fire 'em all!<---

[djlny]

Dick Syron was my old boss at Thermo Electron and he is a financial shenanigenmeister

[dearsug]

I am forwarding this idea, which I consider to be the best so far, I received this in an email, read on.

------ Forwarded Message: --------------

The Birk Economic Recovery Plan

Hi Pals,

I'm against the $85,000,000,000.00 bailout of AIG. Instead, I'm in favor of giving $85,000,000,000 to America in a We Deserve It Dividend.

To make the math simple, let's assume there are 200,000,000 bonafide U.S. Citizens 18+. Our population is about 301,000,000 +/- counting every man, woman and child. So 200,000,000 might be a fair stab at adults 18 and up.

So divide 200 million adults 18+ into $85 billon and that equals $425,000.00.

My plan is to give $425,000 to every person 18+ as a We Deserve It Dividend.

Of course, it would NOT be tax free. So let's assume a tax rate of 30%. Every individual 18+ has to pay $127,500.00 in taxes. That sends $25,500,000,000 right back to Uncle Sam.

But it means that all American adults 18+ have $297,500.00 in their pockets, and married couples get $595,000.00. What would you do with $297,500.00 to $595,000.00 in your family?

Pay off your mortgage - housing crisis solved.
Repay college loans - what a great boost to new grads
Put away money for college - it'll be there
Save in a bank - create money to loan to entrepreneurs.
Buy a new car - create jobs
Invest in the market - capital drives growth
Pay for your parent's medical insurance - health care improves
Enable Deadbeat Dads to come clean - or else

Remember this is for every adult U S Citizen 18+ including the folks who lost their jobs at Lehman Brothers and every other company that is cutting back. And of course, for those serving in our Armed Forces.

If we're going to re-distribute wealth let's really do it. If we're going to do an $85 billion bailout, let's bail out every adult U S Citizen 18+!

As for AIG - liquidate it.
Sell off its parts.
Let American General go back to being American General.
Sell off the real estate.
Let the private sector bargain hunters cut it up and clean it up.

Here's my rationale: We deserve it and AIG doesn't.

Sure it's a crazy idea that can 'never work.' But can you imagine the Coast-To-Coast Block Party! How do you spell Economic Boom?

I trust my fellow adult Americans to know how to use the $85 Billion We Deserve It Dividend more than I do the geniuses at AIG or in Washington DC .

And remember, The Birk plan only really costs $59.5 Billion because $25.5 Billion is returned instantly in taxes to Uncle Sam.

Ahhh...I feel so much better getting that off my chest.

Kindest personal regards,

PS: Feel free to pass this along to your pals as it's either good for a laugh or a tear or a very sobering thought on how to best use $85 Billion!!

[earl21048]

Term limits for congress. No more campaign contributions from any special interests. All lobbyists should have open financial discloser's and complete associations should be made public. No more government supported companies using tax payer money to compete with the private sector in any way. That means no ethanol support IA. Do all we can to allow for energy independence. Vote McCain/Palin.

[UT04]

As I understand it, in a nutshell, the situation is that lenders made risky loans to would be homeowners with shaky credit and no real ability to pay based on the assumption that the value of the subject real estate would continue to rise or that these risky debtors would somehow get a better job and develop the ability to pay. The homeowner that couldn't afford the mortgage to begin with could then sell and the lender could make an even bigger loan to the next guy, and so on, creating increasingly larger lines of credit. The value of the principle and interest owed to the lenders would then be reflected on the balance sheets making the lending entities appear more valuable to investors who in turn bought stock in hopes a continued cycle and a resulting increase in share price. The problem was the scheme generates no real revenue. Its not like anyone was selling any more widgets. Sound lenders make money because responsible borrowers actually pay back the loan, plus interest. These companies were making money through investment because there perceived value was grossly overinflated based on debts owed to them by people who didn't have the any real ability to repay them. This all seemed like a great idea until the value of real estate collapsed.

Now it seems that the taxpayer will loan money to the government through bonds at, hypothetically, 4%. The government will use that money to purchase these notes from Wall Street for $700 billion with plans to sell them back to the taxpayer for, say, $1 Trillion, which the taxpayer will probably finance through Wall Street for 7%. If the taxpayer doesn't default on these new loans, we will have magically turned all the "bad debt" into even more "good debt." The Wall Street companies will then appear even more valuable, be even more attractive to investors, and we will all live happily ever after. The government makes money, Wall Street comes out OK, and the taxpayer can profit by investing in Wall Street. But without investment, the taxpayer would lose big-time. Which is why the "bail out" is necessary because the entire economy is based on debt. There is no real money. If everyone decided to liquidate on the same day we would have real problems. Is it then really just about confidence and perceived value?

Who is to blame for the problem? There is plenty of blame to go around, so feel free to choose based on your politics. Blame the Republican Congress and President Clinton who were in charge when the pressure was put on lenders to lower their loan standards so that people who were previously considered credit risks could get a mortgage. Those people defaulted, blame them. Blame Wall Street for trying to profit from the credit game in an unsustainably robust real estate market. Blame real estate gamblers. Blame election year hysteria and Obama/McCain posturing. The real estate crisis caused this market failure, but this failure is really only a symptom of the bigger problem of the US economy's reliance on debt instead of capital. The debt problem in the US goes back a long, long time and market collapse was inevitable and will be again even if/when a "bailout" is passed.

People who suggest that the government give citizens a check instead of buying Wall Street?s debt do not understand how the economy works. The government gets the money from taxpayers. The ?bailout? has a modest potential to create at least the illusion of profit or growth. Financing a handout to citizens is credit card socialism and would be an incredible disaster.

I apologize for any spelling/grammar mistakes. I am at work and had to write this stream of consciousness, Kerouac style.

[bojo360]

The average citizen does not want a bailout of Wall Street. But our Representative disregard us like we don't know what is going on. So what if credit is frozen? Let the market work. We need a recession to get rid of the crooks. We need Government to stay out of business. Harry Reed, Palosi, Dodd and Blunt: any the of the old line politicians should be voted out this election along with all the socialists who vote in favor of a bailout.. The very best thing taxpayers can do is vote in a new Congress.

[evanthomas]

I too am willing to do NOTHING in the face of this bail-out. My family and I are furious about how poorly the Bush administration has handled the economy - their ineptness to see the signs of this situation run parallel to several decisions made during the last 8 years. This is a big Katrina, another 911. It's very telling that the movie IOUSA is circling the globe as I type this - another nail in the US coffin - we are so distracted from the real issues in this country and the world stands as judge to this truth. The politicians need to realize that WE americans have lost faith in the system, and in no way will we support a bail-out. NO WAY. Those politicians who support it will have hell to pay come November. We have finally hit a point where we don't care if the economy struggles - we are willing to endure it, and as americans will survive it. NO BAIL-OUT!

[ARP146]

If those creating this bailout do not think when in the fullness of time the banking system is back to its full strength, and it is back to normal for the consumer; same poor intrest rates, same plethora of fees... If these people think for one second that after the errors, downright greed, and incompetence that has led to this fiasco is going to continue with out bloodshed they are in for a serious disapointment.
It is simply the idea when things are going well let the free market run its course, but when the "haves and have mores" pull a stunt that is ill conceved, goes against eco 101 rules, and winds up putting the entire nation in danger of an economic depression that would make the last one (the one we call the "great depression") look like a yard sale, who has to flip the bill? Hho should get the benefit if this works? Not Mr banking CEO, not Miss May or Mr Mac, If the American people have to pay for this disaster out of "our money" we need to be the primary benafiter. I know this will not be the case. Oh they may limit Corporate saleries to only absurdly high rather than obscenely high, but that is not enough.
P.S. aint it funny when they really need to find $700,000,000,000.00 it is there, but it in not when they don't desperately need it.

[dragon8me]

We need to end the unconstitutional Federal Reserve system. It's time to stop "renting" our own money from a group of international bankers. It belongs to us not them. This was bound to happen when our is backed by thin air and debt. The gold standard is not the answer either. We need to back our money with our infrastructure, then it will have real value. Google the video, "Money As Debt" if you don't believe me. When you control money you control the government and we have a handfull of rich families who control it all and are about to be handed the deeds to all the property as well.

[Peter Leinfelder]

For once, let's all get together and let our greedy representatives know, that if they vote to bail out the financials, we will not vote for them in their next election.......Tell your congress person and your representatives.....and then stick to it. We should not have to pay for the stupid, greedy people that caused this mess. Certainly, our decendants should not have to be saddled with the repayments for the financial irresponsibility of a very few. I will never vote for anyone that votes to pass this ill advised bailout.....that is a promise.