Funny thing is we know our financial system is f'd but we like our lifestyles too much to change. "Ya this gov bill is bullshit but o man my 401k just hit the shitter, maybe we should bail them out so i can have money to retire on." Prob with this average Joe thinking is that when the dollar turns into toilet paper so will his savings.
Hey I've got a better idea - let's just take over ever bad asset and losing investment of every entity in the US. Then let's dump 10 trillion or so into a fund for everyone who wants a loan to stimulate the economy. Hell, let's make it 50 trillion - boy sounds great we'll all be rich. I love economists' logic.
I'm hoping you were joking but just in case... You were all for the bailout on Friday when the S&P closed at around 1213. Today, the S&P closed at 1164 and you're against it because the market is up so big? Yup, that makes sense.
You are damn right it's controversial! After being in 5 years of coma, this fraudulent bailout proposal WOKE ME UP! jk Excuse me for my lack of participation on ET, I'm just very passive when it comes to voicing opinion. But this time... I AM FURIOUS!!!
TRUE freedom is expensive.....most americans these days are financially compromised and vacant of honor. The only ones with FIGHT left in this country wear black fatigues with "blackwater" logos (while conducting dishonorable illegal ops).
"I see in the near future a crisis approaching that unnerves me and causes me to tremble for safety of my country; corporations have been enthroned, an era of corruption in High Places will follow, and the Money Power of the country will endeavor to prolong its reign by working upon the prejudices of the People, until the wealth is aggregated in a few hands, and the Republic destroyed." ABRAHAM LINCOLN, letter to Col. William F. Elkins, Nov. 21, 1864