Looks like the Economic Bail Out has been voted DOWN

[Buckskin gal]

I am so with you on this. Let things work out without us innocent taxpayers being put further in debt! We will regret the bailout if it happens.

I opened my computer this AM to a heading under the MSN Money section that said "WAMU CEO gets $19 million for three weeks", or words to that effect. So, I went and read the article, along with a couple of related ones...This kind of thing is an OBSCENITY(sort of like paying 'sports stars' the OBSCENE amounts they often get)...on top of that was the contention that the 'provisions' to limit CEO payouts in the 'bailout' are so flawed that they will be virtually meaningless, full of loopholes that can and will be exploited...but which are there essentially to 'look good' to us ignorant everyday taxpayers! Gee, what a surprise(heavy sarcasm INTENDED...) Is it any wonder that Americans are angry?

I am one who thinks this situation should be left alone to sort itself out-in other words, there should NOT be a bailout.It is PAST time that a hard lesson was learned, IMO...because I believe that so many have been operating their affairs in a fiscally irresponsible manner! Yes, they were 'invited' to do so, by irresponsible lenders, painting a picture of ever-escalating 'values' in housing, and encouraging irresponsible spending(want something? Add it onto the credit card; worry about how you'll pay for it 'later')...well, 'later' has arrived! But, the lenders were lending to adults, who are supposed to be able to make, and be responsible for, their decisions.

I don't owe ANYONE.My place is paid for; I looked ahead and knew that I would NOT have the retirement income to manage a mortgage payment, or any other sizeable monthly payment. I have never been in the stock market; I do not have the knowledge, nor have I EVER felt I could risk losing ANY of the principal--two reasons you are always advised NOT to be in stocks...which I have heeded. .I feel fortunate that I do have a survivor annuity as my 'basic' support; it isn't all that large, but at least it is dependable.

I REALLY don't like to pay interest! I budget for what I can put onto credit cards, as well as for my regular monthly expenses--utilities, fuel, food, etc.--as well as for 'unforseens', monthly. I live frugally, but at least, I know I will have a roof over my head. Because of recent years' events(escalation of costs of now, about EVERYTHING...), I have had to make some hard choices---like letting go of a third of my horses--but, you have to deal with what IS, not what you 'wish' IS....and I have been able to place all three where I am as sure as I can be, that they will be safe.

My point is---many people need to 'rethink' the way they handle their financial situation--and maybe even get better-educated on how to live within their means AND handle debt(or better still, avoid most of it.)

Just my honest opinions, of course.

Margo

 

[Carriage]

I am so with you on this. Let things work out without us innocent taxpayers being put further in debt! We will regret the bailout if it happens.

Well said Margo and Buckskin!

McCain has already signaled how he intends to run things in a statement issued yesterday

In Paraphrase

1) Telling the treasury it already has "authority" to do much of the bail-out and should do so even though the American people are OVERWHELMINGLY against this action.

2) "Leadership consists of doing things even though they are not publicly popular." ie. go against

the majority will of the people. While this is nothing new as to comportment for these last MANY decades, usually they don't have the sand to trot that particular mindset out until they are already in office. As we said the last time around presidentiall speaking, Be VERY careful with whom you select! You will NOT get what you think you will with EITHER side. Why folks don't see this at this point is beyond me. How do you know whan a politition is lying?......... So how about for a change we stop electing polititions. There IS still one Constitutional Statesman running......

Odd that the substantial protests on wall street don't even get a peep outa the "news" media. Must be part of that "fair and balanced" approach. Whenver I here the Faux news slogan I always think, " How 'bout you just give me ALL the unbiased news reporting and I'll take care of "fair and balanced"....

While I still think it is a done deal, I don't believe in going quietly into the night. OVERWHELMING

presure MUST be brought to bear NOW!

And one last question for those still suffering from the falacy that the FDIC will bail you out...

If they lack the funds to pay at $100.000, how in the world does uping the limit to $250.000 help the situation in ANY way? Well silly goose IT DOESN"T! Its just ear candy to encourage you to get behind your own financial destruction and slavery.

Trying to pin the blame on the American people who have the foresite to pull THEIR capital from bankrupt firms IS laughable! It is merely a rational response to the banker wolves behaviour.

"What is it that gentlemen wish? What would they have? Is life so dear, or peace so sweet, as to be purchased at the price of chains and slavery? FORBID IT ALMIGHTY GOD!

Another piece of Patrick Henry's speach that encouraged this Nations birth. Are ya sensing a theme here?.....

The only way back is to actually GO back eh?