If the bail out takes place, does that mean the people who are having difficulty paying the credit card bills would get a break? Will the bank come up to the common man and say, "listen, u don't have to pay us since the government helped us out?" I don't think so. The debt would still get sold and some third party or some lawyer would pay that debt for pennies on the dollar. They would go to the courts and win an judgment and put a lien on your bank account. So the consumer still gets screwed big time. Banks get richer. When I say banks, its not all the banks or not the small bank down the corner of your street...its the big investment banks like Goldman and Morgan Stanley. I have to agree with Jim Rogers..on this issue. Hank Paulson is helping his buddies on wall street. This is about corruption. In America, we call it 'lobbying'.
Hank Paulson: If you think, this bail out plan really would help, then please give us your $500 million that you got from Goldman... Look at how much Bill Gates and Warren Buffett are giving.. so hank, please give us your money
Some other economist has also said that this bail out is not addressing the root cause of the problem. Why don't you give this money to the people???? Give it to every U.S. Citizen Give it to every U.S. Citizen who is working or looking for work. Please don't give it to those investment banks who helped create this mess. Why should they be rewarded? Spitzer fucks a prostitute..but he doesn't get caught!!!!!!!!!! Instead you are catching the pimp and the prostitute. If a common man gets caught fucking a prostitute then they end up in jail
Mr. Paulson: How will some one who defaulted on credit card debt benefit from your bail out plan? Don't you think, if the government paid the people some money, then may be the people can pay those credit card debt so those junk CMBS would at least be of some value?
Mr. Paulson: You banned shorts on 799 financial stocks. But the market maker sitting at the desk of Goldman or Morgan Stanley can still legally short financial stocks? This is not fair. This is not a level plain field.
Mr. Paulson: The traders sitting in Goldman also shorted financials all these days...and even today. So why this ban? Answer: Because those i-banks don't want their stock to go down. A stock price should be determined by the natural forces of supply and demand. It is not right for you to intervene.
ROFLMAO How about giving it to all those US citizens who are not repaying their mortgages? They have demonstrating a remarkable ability to control their finances. Btw, the plan is not giving away money, it's buying troubled assets which have a good chance of being profitable if held to maturity. The gov could buy the foreclosed homes at 50 cents on the dollar then lease back to original owners. THAT would be a parallel bailout in the 'people' sector. (an absurd idea)
If credit crisis is eased by the bailout, many businesses will linger on and will not fire as many people. So the short answer is- you , or your neighbor, get to keep your job.