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Date Posted: 17:22:10 09/23/08 Tue
Author: JennyJenkins wondering if there are enough zeros...
Subject: Is any one out there in favour of the 700 000 000 000 000.00 taxpayer bailout ...

as opposed to giving that money to the mortgage payers.

Here's how I understand the bailout as it stands right now: the family who cannot affprd to pay the renewed mortgage walks away from their house, but still continues to work, and has to rent. Their income tax, that is deducted, will be used to bail out the corporations. This means that the people who run those corporations will continue to live high off the hog, and not suffer any consequences from the greed that caused this mess in the first place.

Wouldn't it be better if the government allocated this money to the actual mortgage payers and taxpayers so that the system could function as it was intended to, in the first place.

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Replies:

[> I'm very suspicious of the rush..... -- scooter, 06:42:16 09/24/08 Wed [1]

for this bailout. I want to see some accountability for the people who caused this mess. Once again, we are being manipulated through fear. I don't trust any of the people in charge--especially people like Paulsen. Why didn't they see this coming? And now they want 700 billion dollars within a week? Why not incrementally? There are way too many unanswered questions about where this money will go and who will benefit. I don't even pretend to fully understand this situation, but I feel like the American public is being ripped off AGAIN.


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[> [> Wow - shock of the century - I agree with every word Scooter wrote! -- Jeannine, 09:22:54 09/26/08 Fri [1]

this rush is so suspicious, so is the sudden agreement and push for quick action between Bush/Pelose/Reid, strange bedfellows to say the least. This whole thing stinks. I freely admit to ignorance with high finance, but I am very concerned with who benefits and who the losers are in this deal. History shows we the people are the probable losers.


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[> [> [> I agree with you both! This is too big to be done hastily or -- LAwoman, 18:55:16 09/27/08 Sat [1]

without complete transparency. I'm not so sure it should be done at all.


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[> I'm just glad -- SB, 06:51:07 09/24/08 Wed [1]

members from both parties aren't rushing into this even with the pressure from the administration and Paulson to push it through. Also glad to see the FBI looking into the multitude's of fraud these companies participated in. I'm definitely not in favor of giving a blank check without some oversight and I'm definitely in favor of Dodd's proposal to limit compensation to these so-called 'executives'. The thought of some high level executive that's been bilking people for years getting a $1,000,000 taxpayer bonus for screwing them really pisses me off!!!


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[> [> ITA agreement with everything you said! -- scooter, 07:27:12 09/24/08 Wed [1]

And the lack of leadership from our "MBA President" is disappointing to say the least.


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[> [> [> At least after today's news, I'm glad that Buffet and Trump are speaking up... -- JennyJenkins, 20:38:57 09/24/08 Wed [1]

Since both of their companies have massive real estate holdings, they must know already: that the real estate is still a good investment.

I don't agree with Pres. Bush's scare tactics. I'm sure that the free market would solve this recession without interference.


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[> Getting Taken By The Old Ball Game by Bill Moyers -- gg, an interesting read, 14:37:24 09/25/08 Thu [1]

If you don't watch the series:

http://www.pbs.org/moyers/journal/09192008/profile4.html


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[> [> I knew that the commissions were large, but didn't know HOW large... -- JennyJenkins, 17:49:56 09/25/08 Thu [1]

...at least it makes me feel good to know that they still can eat only one spoonfull of food at time and sit on only one stool at a time... ;-/ no matter how much money they have.

I hope congress and house of rep. will take a good hard look at that package and throw out any further rewards for those fat cats and give a good and helping hand to the people who really need the help in paying off the mortgages.


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