Democratic Underground Latest Greatest Lobby Journals Search Options Help Login
Google

Here's why the bailout plan won't work.

Printer-friendly format Printer-friendly format
Printer-friendly format Email this thread to a friend
Printer-friendly format Bookmark this thread
This topic is archived.
Home » Discuss » Archives » General Discussion (1/22-2007 thru 12/14/2010) Donate to DU
 
rkc3 Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Nov-21-08 12:19 PM
Original message
Here's why the bailout plan won't work.
http://biz.yahoo.com/rb/081121/business_us_usa_economy_unemployment.html

Consumers expecting high unemployment will not be spending or borrowing money.

We can give all the money in the world to the banks who f*cked us - but until Americans stop worrying about losing our jobs, we're going to sitting on whatever money we can until this catastrophe is over.
Printer Friendly | Permalink |  | Top
JohnnyBoots Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Nov-21-08 12:21 PM
Response to Original message
1. The bailout was never intended to work like that. It was all about giving 700 billion to
wall street with no strings attached. It was one last big smash and grab by bush for his cronies.
Printer Friendly | Permalink |  | Top
 
kentuck Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Nov-21-08 12:23 PM
Response to Original message
2. At least the banks now have the "money" to sit on...
and that is the bottom line. Thanks a lot, Congress! If we don't invade Iran, we may see a mushroom cloud over one of our cities very shortly...
Printer Friendly | Permalink |  | Top
 
Raschel Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Nov-21-08 01:17 PM
Response to Original message
3. I couldn't believe it when I heard that Paulson said the reason for the bailout
was so that consumers could borrow money to buy houses and cars. And our government went along with this, when most people are trying to hang on to the homes and cars (and jobs) that they have?

We're screwed. (overused statement but nothing else fits)
Printer Friendly | Permalink |  | Top
 
DU AdBot (1000+ posts) Click to send private message to this author Click to view 
this author's profile Click to add 
this author to your buddy list Click to add 
this author to your Ignore list Wed May 01st 2024, 01:35 AM
Response to Original message
Advertisements [?]
 Top

Home » Discuss » Archives » General Discussion (1/22-2007 thru 12/14/2010) Donate to DU

Powered by DCForum+ Version 1.1 Copyright 1997-2002 DCScripts.com
Software has been extensively modified by the DU administrators


Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.

Home  |  Discussion Forums  |  Journals |  Store  |  Donate

About DU  |  Contact Us  |  Privacy Policy

Got a message for Democratic Underground? Click here to send us a message.

© 2001 - 2011 Democratic Underground, LLC