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Ok, I’ve officially HAD it! UP TO HERE!

I have spent the last week  studying this bailout nonsense! I have been emailing and calling Senators, Representatives, and the President.

This thing is ridiculous! Apparently, Henry Paulson has known this mess was going to blow up for at least a year. He waited to inform the President until it was necessary to push a bill through immediately?!!!

WHOA!!! No time to research, talk with scores of economists, who urged that this bailout WOULD NOT WORK! Although most think SOMETHING must be done, this bailout was widely viewed as a mistake.

Why throw good money after bad??? $700,000,000,000 of OUR MONEY! WHERE WILL IT END?? The auto industry, credit card industry and many others are waiting in line. While We, the Citizens await our fate.

The Senators who wrote the bill were given a list of industry terms. How’s THAT for education on possibly the most important bill/issue of our lifetimes?!
More over, these Senators, many of whom fought oversight of Fannie and Freddie leading to this disaster, ARE IN CHARGE OF WRITING THE BILL, VOTING ON IT, AND OVERSEEING IT!!!
How on earth is all this possible?

If all that were not enough, URGH!, these YOKELS writing this bill ADDED PORK! They added a clause that 20% of any money received back (which should go to retiring the debt), would go to community organizations, such as Acorn.



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Member Comments

    • 0 votes vote up vote up

      Cynthia Schmidt wrote Sep 29, 2008
    • Thank you! This whole thing with our economy is downright frightening. I don’t trust any facet of government at this moment and I don’t want them to do this either!  

      When all is said and done, I and I’m sure may other Americans would like to see some people go to jail for these real estate loans and I am really tired of the CEO’s getting huge severance packages. There needs to be a law against this practice. They just have no sense of accountability when they know they will be safe and secure while everyone else is scrambling to feed their families.

      And, Dana, I read the comments on Yana’s article. Hysterical! You haven’t lost your sense of humor!And, when I someday get to California, whenever that is, I want to join your women’s group.
      Cynthia



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    • 0 votes vote up vote up

      Carine Nadel wrote Sep 29, 2008
    • I agree Dana-the economy just made me lose my day job.  This just sucks.

      almost 51, out of a full time job and there sure isn’t much to go and apply for in the writing field.  I figure if I’m out of a job, I might as well make a stand for working fulltime as a writer.



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    • 0 votes vote up vote up

      Carine Nadel wrote Sep 29, 2008
    • thank you Stephanie,
      spent the day combing the different writer’s job boards, monster and career builders.  Sent lots of e-mails to contacts.

      I’m so ready for Bitch Day.



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    • 0 votes vote up vote up

      Dee Dee Shaw wrote Sep 29, 2008
    • The Bob Economic Recovery PLan

        

      Hi All  

        

      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.  

        

      I got this in my inbox and thought you might like a different perspective. I am too lazy to reformat it though. :)

      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 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 every adult 18+ has $297,500.00 in their pocket.  

      A husband and wife has $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...instead of trickling out a puny $1000.00 ( “vote buy” ) economic incentive that is
      being proposed by one of our candidates for President.  

        

      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 Bob 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



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    • 0 votes vote up vote up

      Jen Owens wrote Sep 30, 2008
    • Carine - I am sorry to hear about your job loss. I’ve been there and it is a tough road. But this to shall pass! Have faith and it will all work out!  

      Ummm, so, when is bitch day? It once a week, right? :p  

      And to conclude my comment, I like the idea of “America in a We Deserve It Dividend“. With this money, people could live while they finished school as well. One addendum that I’d like to see would be those on Welfare need to be required to put it towards living expenses/child care while furthering their education in some way so they are no longer have to rely on Welfare.



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