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Can someone explain this "bail out" plan for the US economy


Thomson Mouse
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Why are certain people blocking the plan? 

 

Is it because Bush is trying to give rich people more money?

 

The republicans don't believe that the banks should be bailed out for their mistakes.

 

They made their choice, they pay the price.

 

What they don't appear to appreciate is that if money is not pumped in thousands of people will lose their jobs, the US will hit a huge recession and it will cost the government over there much more than is being suggested for this bail out to fix the problem

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Why are certain people blocking the plan? 

 

Is it because Bush is trying to give rich people more money?

 

The republicans don't believe that the banks should be bailed out for their mistakes.

 

They made their choice, they pay the price.

 

What they don't appear to appreciate is that if money is not pumped in thousands of people will lose their jobs, the US will hit a huge recession and it will cost the government over there much more than is being suggested for this bail out to fix the problem

 

is it?

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Why are certain people blocking the plan? 

 

Is it because Bush is trying to give rich people more money?

 

The republicans don't believe that the banks should be bailed out for their mistakes.

 

They made their choice, they pay the price.

 

What they don't appear to appreciate is that if money is not pumped in thousands of people will lose their jobs, the US will hit a huge recession and it will cost the government over there much more than is being suggested for this bail out to fix the problem

 

Very honest of them when a lot of rich people will lose a lot of money.

 

Could there be a hidden agenda behind the Republicans doing this?

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Why are certain people blocking the plan? 

 

Is it because Bush is trying to give rich people more money?

 

The republicans don't believe that the banks should be bailed out for their mistakes.

 

They made their choice, they pay the price.

 

What they don't appear to appreciate is that if money is not pumped in thousands of people will lose their jobs, the US will hit a huge recession and it will cost the government over there much more than is being suggested for this bail out to fix the problem

We're going to hit one anyway.  Bailouts and the Fed artificially propping up prices just extends it instead of letting the market recover more swiftly on its own.
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And here we go

http://news.bbc.co.uk/1/hi/business/7641733.stm

House votes down bail-out package 

 

The lower house of the US Congress has voted down a $700bn (£380bn) plan aimed at bailing out Wall Street.

 

Basically voted down on ideological grounds and because so many members of ther house are up for re-election soon - heard it summed up as "A majority on both sides wanted this to go through, just not with their vote."

 

Oh well - US Economy: Better Dead Than Red.

 

 

 

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And here we go

http://news.bbc.co.uk/1/hi/business/7641733.stm

House votes down bail-out package 

 

The lower house of the US Congress has voted down a $700bn (£380bn) plan aimed at bailing out Wall Street.

 

Basically voted down on ideological grounds and because so many members of ther house are up for re-election soon - heard it summed up as "A majority on both sides wanted this to go through, just not with their vote."

 

Oh well - US Economy: Better Dead Than Red.

 

 

 

 

I'm still trying very hard to wrap my head around the implications of this thing passing or failing, but the gutlessness of these "leaders" wanting a majority on both sides so no one can shift blame if it fails is just...

 

Every day I feel like we're getting closer and closer to the pitchforks.

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And here we go

http://news.bbc.co.uk/1/hi/business/7641733.stm

House votes down bail-out package 

 

The lower house of the US Congress has voted down a $700bn (£380bn) plan aimed at bailing out Wall Street.

 

Basically voted down on ideological grounds and because so many members of ther house are up for re-election soon - heard it summed up as "A majority on both sides wanted this to go through, just not with their vote."

 

Oh well - US Economy: Better Dead Than Red.

 

 

 

 

I'm still trying very hard to wrap my head around the implications of this thing passing or failing, but the gutlessness of these "leaders" wanting a majority on both sides so no one can shift blame if it fails is just...

 

Every day I feel like we're getting closer and closer to the pitchforks.

 

Its possible that if nothing is done then we will experience the next great depression.

 

Its that bad

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It has nothing to do with ideology IMO.  It has to do with the fact that the public doesn't support the plan.  Opinion polls suggest that 60-70% of people are against the rescue plan, partly out of a legitimate anger that executives who fucked up are going to get help while the country suffers and partly because they just don't understand why it is necessary.  So these Republicans (and Democrats) in the House - all of whom are up for re-election in November - get lots of angry phone calls about this bill and decide to play politics while the economy burns.

 

 

 

 

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It has nothing to do with ideology IMO.  It has to do with the fact that the public doesn't support the plan.  Opinion polls suggest that 60-70% of people are against the rescue plan, partly out of a legitimate anger that executives who f***ed up are going to get help while the country suffers and partly because they just don't understand why it is necessary.  So these Republicans (and Democrats) in the House - all of whom are up for re-election in November - get lots of angry phone calls about this bill and decide to play politics while the economy burns.

 

 

 

 

has anyone tried to explain what the probable repurcussions are to the US population if the companies in trouble are allowed to go under. i know at least some commentators are saying it has been sold on pure idealogical grounds over there.
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My thoughts exactly, saw an interview on cnbc before.

 

Interviewer - So do your support the plan ?

Woman - No I do not.

I - Why not ?

W - Well its going to cost me $2000.

I - Well if the stock market collapses you wont have an money (it will be worthless etc)

W - Well the government would never allow that to happen

 

dear god.

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"bail out" is bad move but something must to do. the effect could be a depleted your USD money value. People will not lose money. Prepare for Euro worth rising high after these. If you are speculator business man enough on this condition u know what i mean >:D u can be rich enough by no time :laugh:

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My thoughts exactly, saw an interview on cnbc before.

 

Interviewer - So do your support the plan ?

Woman - No I do not.

I - Why not ?

W - Well its going to cost me $2000.

I - Well if the stock market collapses you wont have an money (it will be worthless etc)

W - Well the government would never allow that to happen

 

dear god.

 

The media reporting on the whole financial crisis over the past 12-13 months has been horrific.

 

Case in point on BBC last night, they had a Nobel Prize winning economist on. They showed the interview where he was explaining how certain indicators were worse than in 1929, then as he said 'but'.. (about to go on to the positive aspects on why we may just about survive), they cut the interview.

 

I know bad news is better for the broadcasters than good news, but so many people do not understand what is going on and the implications of it (why would they - we've never seen this happen before) and the biased reporting angle just builds up more unrest and panic (I think the run on Northern Rock would have been avoided if the facts had been reported and not just a couple of lines of doomsday reporting at the beginning).

 

Everyone should read up as much as possible on this situation, it will help when major decisions need to be made.

 

Oh and the American politicians who blocked this should be shot.

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So could someone sum up where we are likely to be in terms of our economies in a years time?

 

I know this is a big question, but a stab at it would be good.

 

Wait until Thursday, another 'bail out' plan will be presented in the US then.

 

We'll have a better idea then.

 

Funnily enough, half an hour ago the FTSE was up on yesterday, not what anyone expected.

 

All hail TESCO and its £1.5bn profits!

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It's incredible to me that George Bush has requested more and more funds for the "wars" and gotten it every time, the cumulative total of which is in excess of this request.  Yet now is the time the senate decide to get principled.

 

To be fair though, I think it's hilarious.  Let the capitalist pig dogs reap what they sow.

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It's incredible to me that George Bush has requested more and more funds for the "wars" and gotten it every time, the cumulative total of which is in excess of this request.  Yet now is the time the senate decide to get principled.

 

To be fair though, I think it's hilarious.  Let the capitalist pig dogs reap what they sow.

too true.

 

as for reaping what they saw. it's a fine sentiment if they were the only ones affected.

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