700 billion bailout passed!?!
10-01-2008, 05:59 PM
#2
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Joined APC: May 2006
Position: CA
Posts: 532
Originally Posted by Joachim
Who voted this in all of a sudden? It was voted against and all of a sudden it was passed. Is this a democracy or did imiss something?
10-01-2008, 06:06 PM
#4
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Joined APC: May 2006
Position: CA
Posts: 532
This bill is something that many people don't understand including myself. However, we can't keep letting these banks fail. We all know there are crooks out there who make money everytime a bank goes down. This is to keep money out of their hands. It will cost the taxpayers a LOT of money, but in the end, you'll find it right back in your pocket.
10-01-2008, 06:16 PM
#7
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Joined APC: Jul 2007
Posts: 577
connection pilot is right, essentially the goverernment is buying all the bad debt from the financial institutions (mortgages, car loans, etc.) They're buying it for a share of the companies which in turn the government will sell over th enext 2-5 years and probabaly make a profit. Taxpayers will pay extra for this and some of the CEOs the were part of the problem will make money off of this. ALTHOUGH its much better then what could have happened as in no one can ever get a loan for anything because the loan companies wouldn't be giving it out unless you have exceptionally good credit!
this is a quick generalization and the bailout has provisions and more details that im sure you can read somewhere
this is a quick generalization and the bailout has provisions and more details that im sure you can read somewhere
10-01-2008, 06:27 PM
#8
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Joined APC: Dec 2007
Posts: 328
Originally Posted by IlliniPilot99
connection pilot is right, essentially the goverernment is buying all the bad debt from the financial institutions (mortgages, car loans, etc.) They're buying it for a share of the companies which in turn the government will sell over th enext 2-5 years and probabaly make a profit. Taxpayers will pay extra for this and some of the CEOs the were part of the problem will make money off of this. ALTHOUGH its much better then what could have happened as in no one can ever get a loan for anything because the loan companies wouldn't be giving it out unless you have exceptionally good credit!
this is a quick generalization and the bailout has provisions and more details that im sure you can read somewhere
this is a quick generalization and the bailout has provisions and more details that im sure you can read somewhere
10-01-2008, 10:09 PM
#9
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Joined APC: Dec 2007
Position: Hot tub for now
Posts: 1,203
Now I ain't the most edumacated person on dis computer but ain't a republican supposed to be against socialism? Cause this is just about as socialist as it gets.
I heard this on the radio, that the profits are private but the debt is public. What next we do trade with communist china?
I heard this on the radio, that the profits are private but the debt is public. What next we do trade with communist china?
10-01-2008, 10:17 PM
#10
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Joined APC: Jul 2007
Posts: 577
agree...but in with the efficient free market theory...we can take advantage of that and turn a profit...but it sure sounds like socialism (then again on paper communism sounds like a good idea, flamebait for anyone who has no idea what im talking about)
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