Comments on: Is Anyone FOR the Bleeping Bailout?

By: john in the boro

john in the boro — Tue, 23 Sep 2008 21:02:49 +0000

This situation is so tragic for so many and yet I have to laugh at the prospect of President Bush, the beneficiary of so many bailouts, finally being able to return the favor big time to his backers. Of course he will screw it up and we will lose a few more liberties in the process.

By: Carolyn

Carolyn — Tue, 23 Sep 2008 19:49:22 +0000

Can it be true??? I just heard on CNN that Paulson was CEO of Goldman Sachs until 2006 when he cashed in $500 million from the company for himself. This stinks so bad!!!!!

By: felicity

felicity — Tue, 23 Sep 2008 16:21:19 +0000

It’s that little provision disallowing any recourse to courts etc. if there are grievances to address. Remember Cheney’s Energy Task Force? The Bush administration learned from that – the results of which are still being challenged in the courts, to no avail – best to disallow the possibility of court action ahead of time.

Which can only mean that the administration knows that as written the particulars of the bail-out stink to high heaven of a rip-off of the nation and the taxpayers.

By: jerri

jerri — Tue, 23 Sep 2008 14:43:56 +0000

Sorry, the dems need to demand bush go on prime time tv and explain to America why the banks need $700 billion dollars. Stupid bush was on tv again 9 am eastern time talking about the plan. He is the president and the dems need to stop letting him hide.

I was watching cnbc this am and those high paid day trader pundits have decided to refer to the bailout plan as a rescue plan. Now wall street is victim of their own fraud? Maha remember that smell…I’m starting to smell it again.

By: s

Tue, 23 Sep 2008 13:17:09 +0000

Can we even believe it when bush says give the guy a blank check and agree to no penalties or court actions? Could this be a ploy to control any available money for the time the repubs are not in office? I say give him the blank check and take out the pass on the courts. I want anyone screwing up the world economy to the extremes I am hearing to be held accountable. I also want the option of going after any liars if this turns out to be a scam by bush and his cronies. I think this admin has trampled on our Constitution and I am tired of it. I also can’t believe the number of people just refusing subpoenas. If it was me refusing, I would be behind bars before sundown. I want some equality in our justice system. I also say if the public has to take over losses for these companies, the CEOs are out of a job, and the new boss (me) says no parting package. I wish I had the millions these companies have donated to the campaigns. I also want that stopped. If your company is in the red, don’t toss out a million to a campaign or two.

By: k

Tue, 23 Sep 2008 13:14:24 +0000

Agree with Pat above. this is stinking stinking rotten fish
I remember a fall when terror and anthrax was the fear fear fear reason to make Congress act quickly and without question.
I remember the fall when Aluminum tubes were the fear factor and the president had to be given extraordinary power.
Now it is bad mortgages? that were bad a year ago? so why suddenly this week the whole system will collapse if we do not cave? Wall Street wanted all that social security trust fund and didn’t get it so now they want this as a pay off before Obama comes in to raise their taxes? Sorry but the more you look at this the more it stinks. It is their MO to scare the hell out of the public , provide little real facts and then make off with money and unprecedented power. Be very careful and don’t give in to them this last time please……

By: RadioClash

RadioClash — Tue, 23 Sep 2008 05:10:42 +0000

It’s all about the derivatives market, and everything that is being done by Paulson and Bernanke is a panicked attempt to keep the derivatives bubble from popping. This is not about bailing out the investment banks, this is about protecting a 500 trillion dollar bubble and preventing a run on the hedge funds. I’m not sure this will work. Scary times ahead.

By: Pat

Pat — Tue, 23 Sep 2008 01:26:02 +0000

Sorry for typos, I make ‘em when I’m unnerved by this stuff.

I’d never thought that what was happening now would ever happen so when I hear theories from many who have studied the neocon agenda and disaster capitalism I conced the possibility that what they are saying might be true.

Has anyone gone into the bailout bill that will be coming up for a vote? Heres the link:

http://blogs.wsj.com/economics/2008/09/20/treasury’s-financial-bailout-proposal-to-congress/

It contains a clause, similar to a signing statement that gives absolute power to the scretary of the treasury:

“Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency.”

Naomi Klein author of Shock Doctrine and others cleaim that this crisis is not the real crisis. This is just a blow to democracy that softens us up. According to Klein this current financial crisis is but a small part of the strategy:

What Gingrich’s wish list tells us is that the dumping of private debt into the public coffers is only stage one of the current shock. The second comes when the debt crisis currently being created by this bailout becomes the excuse to privatize social security, lower corporate taxes and cut spending on the poor. A President McCain would embrace these policies willingly. A President Obama would come under huge pressure from the think tanks and the corporate media to abandon his campaign promises and embrace austerity and “free-market stimulus.”

The author I referred to previously is Charles Derber and his book is:

“Hidden Power – What You Need to Know to Save Our Democracy”

A link to a blog about this book, which was a very interesting read:

http://www.buzzflash.com/articles/hartmann/011

Well, we are living in interesting times. Doesn’t this resemble a slow motion coup? Just a little?

By: Norm in Manteca

Norm in Manteca — Tue, 23 Sep 2008 00:46:15 +0000

E Pluribus HOKUM

By: Swami

Swami — Mon, 22 Sep 2008 23:03:27 +0000

http://news.yahoo.com/s/ap/20080922/ap_on_bi_ge/morgan_stanley_investment

Looks like Morgan Stanley slipped out of the dreaded financial noose..Maybe other banks will seek a solution that is similar rather than turn to Uncle Sugar for a handout.