Comments on: The $700 Billion Banking Bailout Bill Passes – Will It Work?

By: Doug

Doug — Mon, 06 Oct 2008 18:46:47 +0000

Has anyone seen the pork that is in this Bill.I would like to know just where did all this money really go.I saw one article that said you can get a $7,500 tax break if you buy a certain kind of electric car.In another place I saw that there was an allotment of $1,000,000 to produce wooden arrows for childrens games.I am not sure how true all of this is but it was on the Web.Does anyone know where to get a copy of the Bill or what the number of it is?

By: Contrarian Profits

Contrarian Profits — Mon, 06 Oct 2008 17:31:23 +0000

We don’t think it will work. That’s why we are advising that it may be time to move assets offshore now…

By: Acai Berry Side Effects

Acai Berry Side Effects — Mon, 06 Oct 2008 03:43:08 +0000

I think we all know that this bail out is necessary but frustrating and extremely over budgeted. Why is it that unscrupulous banks get so much money when they completely screw up and a guy with, say a drug problem that spends his rent payment on dope can’t get a handout as well? Who’s causing more damage to society… the guy doing drugs or the banks taking homes from millions of people?

By: Web Smith

Web Smith — Sun, 05 Oct 2008 19:32:37 +0000

What happened to that $700 billion, anyway. This was such an emergency need that surely they must have used a large chunk of it by now in addition to the $400 billion that the Fed send out to foreign banks while Congress was approving the $700 billion. To hear Paulson, Bernanke, and Bush tell it, the banks were all sitting around with their mouths open gasping for air.

In the meantime, we noticed that Federal Reserve Stock holders Chase and Citigroup are going to make out like bandits buying up assets for pennies on the dollar.

Now the headline reads, “Housing must mend to see economic recovery”. What was the purpose of the $700 billion?

We weren’t born yesterday. Washington was and they have been scammed again. As soon as we replace the Congress members and Senators that voted for this bill next month, we need to raise their salaries to say, $1 million so we can attract some talent to the next election.

By: simone hardy

simone hardy — Sun, 05 Oct 2008 19:03:06 +0000

Good cliffhanger and since I don’t know I’ll tune in next week. Thank you for writing this because I am really trying to understand exactly what the hell happened.

By: Joshua Dorkin

Joshua Dorkin — Sun, 05 Oct 2008 17:18:30 +0000

What are the answers, James?

By: James C

James C — Sun, 05 Oct 2008 17:06:16 +0000

You ARE so correct and I already KNOW the answers as do many!