Do you think the US Economy needs a bailout bill?

[TheDonkey]

It seems DU is divided over the bailout bill. However, I've yet to see a poll.

[Spider Jerusalem]

1. The economy doesn't, but the financial system does (small but important distinction)

[frickaline]

2. if the credit market gets too tight, business will be affected and then we all lose

Yes, we need one. Perhaps not this one, but we do need one.

[rucky]

3. I don't know.

and I don't think 90% of the Congress critters who voted today know, either. I think we can figure it out, but it'll take more time than a few hours to review, investigate, negotiate & vote. Let's do this right for once - even if we take a hit from Wall Street in the meantime - a solid, popular plan will calm investors and voters. We'll be better for it in the long term.

So unless you plan to retire in the next few months - CHILL.

[TheDonkey]

4. I agree, the mad rush to find a quick fix is not the answer

its that sort of thing that got us here. We need to find a real solution to correcting this sort of uncontrolled greed and outrageous behavior

[Warren Stupidity]

5. The failed bill was a huge compromise

to bring in Republicans, giving up almost every form of progressive oversight, re-regulation, and relief for people being forclosed. And yet a majority of Republicans voted no. Democrats should come back with a bill that Democrats support, pass that, and put that bill to the Senate and the White House for Republicans to either support, block, or get out of the way.

[TheDonkey]

6. That sounds like a better strategy

leave it up to Bush to sign or veto. Get Democrats to pass it through both houses. A real bill that has strict controls and regulations attached to protect taxpayers.

[Alexander]

10. Agree 100%.

[Forkboy]

7. I suspect we need it psychologically as much as anything.

Which is always a scary reason to do anything. But this has a life of it's own now, and a bill will be passed, and passed fairly quickly.

[old mark]

8. Other: the original "plan" was a terrible thing, but the quick

and dirty compromise legislation did little good for most people.
It's now up to Congress to make a good bill, and see how that fairs with the Repubs and the Bush regime. OR squable and simply do nothing and let the natural greed of the marketplace take do its thing.

2 observations from this evening: A Stock Exchange floor trader angrily demanding money from Congress,"We can pass blame later, just give us the money."
And Wachovia Bank was bought by CitiCorp this afternoon, so the corps with money are already starting their own "bailout".

I believe this "crash" will start to revover on its own within a week or so because there is still an awful lot of money out there looking for bargains.

mark

[truthisfreedom]

9. This whole thing is inevitiable in an election year. What's most important is that $700B won't come

close to solving the problem. It can only help delay it for the hard crash in 2010-2015.

Read this:

http://www.wallstreetdigest.com/hotline.php

[TheDonkey]

11. A slim majority favor the bailout bill