Senate puts lipstick on the $700B Pig

[theHawk]

http://money.cnn.com/2008/10/01/news...ex.htm?cnn=yes

NEW YORK (CNNMoney.com) -- The core of the Senate financial bailout bill is the Bush administration's plan to buy troubled assets from banks, but the proposal includes a number of new provisions aimed at Main Street.

The changes are intended to attract more votes in the House, which defeated an earlier version on Monday. In particular, they are designed to attract more House Republicans, two-thirds of whom voted no.

The Senate is set to vote on the bill Wednesday evening. Republican presidential nominee Sen. John McCain, R-Ariz., and Democratic nominee Sen. Barack Obama, D-Ill., said they would be present.

The House is expected to vote on Friday, according to aides to Democratic leaders.

I have to quote Obama on this one!

"Lipstick on a pig, is still a pig" !!!!
Of course, Obama is for this propasal, as any good Marxist would be.

This is a problem completely manufactured by Democrat policies on the lending industry. They had every intention of running these lenders into the ground so they'd all run to Uncle Sam for the handout. Bush doesn't want to be known as the President who let the financial industry collapse on his watch, so he wants to patch this problem fast. Both Bush and the Dems are for this, for very different reasons. And McCain? I guess the old man is buying into this crap that its a crysis and needs to be fixed now.

[mundame]

Just give our tax money all to the bankers that got themselves into this, right.

I'm pretty unhappy about this situation.

[Mr. P]

Just give our tax money all to the bankers that got themselves into this, right.

I'm pretty unhappy about this situation.

I've heard it suggested several times the last few days that they just give every U.S. citizen over 18 a million bucks each and call it good.

Seemed lame at first but it would be way less money and plenty of stimulus...plus the smart folks would double it in short order. Let the failed companies...FAIL!

[Kathianne]

I've heard it suggested several times the last few days that they just give every U.S. citizen over 18 a million bucks each and call it good.

Seemed lame at first but it would be way less money and plenty of stimulus...plus the smart folks would double it in short order. Let the failed companies...FAIL!

Here who wouldn't settle for giving each taxpayer $25k and saying that is all? LOL! Would that not revive the economy, for at least a year?

[Mr. P]

Here who wouldn't settle for giving each taxpayer $25k and saying that is all? LOL! Would that not revive the economy, for at least a year?

I want a million.. heck it's ours and they wanna give it out..might as well give it to the people..a million will be good for way longer than a year for most of us....then da chit would hit da fan, cuz the morons will be in more debt and broke.

I guess it's not such a great idea...It would be like giving someone a gun that has no idea how to use it. It's just a matter of time before they get hurt.

Nevermind.

[theHawk]

I've heard it suggested several times the last few days that they just give every U.S. citizen over 18 a million bucks each and call it good.

Seemed lame at first but it would be way less money and plenty of stimulus...plus the smart folks would double it in short order. Let the failed companies...FAIL!

The problem is, the government doesn't have $700 Billion laying around to just give out.

Of course no one is talking about that. We're just going to borrow this $700 billion to give it away to the banks....

[mundame]

The problem is, the government doesn't have $700 Billion laying around to just give out.

Of course no one is talking about that. We're just going to borrow this $700 billion to give it away to the banks....

No problem, they can get the money, they've got a printing press.

[bullypulpit]

Congress lacks the spine to treat the underlying disease, preferring to throw money at the symptoms. These worthless securities will be bought at inflated prices in the hopes of increasing the liquidity in the credit markets so that the benefits will "trickle down" to the rest of us.

This whole charade is a case of Congress pissing on the collective backs of everyone who works for a living and telling us that the warm feeling trickling down our backs is rain.

[bullypulpit]

bump

[avatar4321]

Congress lacks the spine to treat the underlying disease, preferring to throw money at the symptoms. These worthless securities will be bought at inflated prices in the hopes of increasing the liquidity in the credit markets so that the benefits will "trickle down" to the rest of us.

This whole charade is a case of Congress pissing on the collective backs of everyone who works for a living and telling us that the warm feeling trickling down our backs is rain.

I am seriously agreeing with you here... which is rare. So what do you see as the underlying disease here?

[Yurt]

Congress lacks the spine to treat the underlying disease, preferring to throw money at the symptoms. These worthless securities will be bought at inflated prices in the hopes of increasing the liquidity in the credit markets so that the benefits will "trickle down" to the rest of us.

This whole charade is a case of Congress pissing on the collective backs of everyone who works for a living and telling us that the warm feeling trickling down our backs is rain.

there you have it, even a lib thinks this is bull....this only supports my thread that we the people helped to force congress (lost the senate) to not pass this and that the phone calls were not fake....

and i am in agreement with bully on this

[bullypulpit]

I am seriously agreeing with you here... which is rare. So what do you see as the underlying disease here?

Allowing the moneyed interests of Wall Street dictate government policy. Tearing down of the walls between banking and commerce that were erected by the Banking Act of 1933.

Unfettered free markets presuppose a rational society, which we clearly lack. Until we do have such a society, regulation of markets is necessary to limit the worst of their excesses...which this economic crisis is a product of.

[bullypulpit]

there you have it, even a lib thinks this is bull....this only supports my thread that we the people helped to force congress (lost the senate) to not pass this and that the phone calls were not fake....

and i am in agreement with bully on this

Don't be scared...you'd probably be surprised about how much we actually DO agree on. As for Senators, I had the poor kid answering Sherrod Brown's phone stammering in abject apology for Brown's voting for that travesty of a bill.