9:27PM EST: The Senate has just passed a $700 billion bailout for the financial industry aimed at preventing the economy from plunging into a recession. Democrats and Republicans teamed to approve the bill after sweetening it with tax breaks. The House plans to vote on it Friday.
Fox News reports that Senators Barack Obama, John McCain and Joe Biden all voted in favor of the bill.
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7 Responses
Unfortunately,this is a CREDITOR bailout. Major banks and other big lenders deliberately took big financial risks, figuring they could pass off the dangerous loans to some suckers at the end of the line.
It is anti-capitalist (that is, SOCIALIST) to bail out those who want to rip us off (“us” means the US Taxpayer). There is still time to call your senator or congressman. Do it today!
We are living in an age of NO PERSONAL RESPONSIBILITY.
This isn’t about punishing Wall Street and the Banks. This isn’t about making sure some fat cat guy doesn’t get his 20 million severance check. This is about policy. You don’t bailout businesses that have been for 20 years making bad decisions. Let them fail. Let them go out of businesses. Better business and companies will come and things will get better.
What message does this send to these companies who FULLY UNDERSTOOD WHAT THEY WERE DOING FOR TWENTY YEARS? Are we saying, take advantage of the system, put all our money and our economic health at risk, it’s ok, if things get really bad the government will spent 800,000,000,000 billion dollars to bail you out? Let’s not forget that the government has ALREADY SPENT 280 BILLION on Fannie Mae, Freddie Mac and AIG. So in the end this will be over ONE TRILLION DOLLARS.
What message does this sent to the Auto Industry? The Farming Industry? The Airline Industry? Why do we keep bailing out these people? Are we saying, be a bad company, make risky decisions, gamble our money away and there will never be consequences?
Make sure to call your local representative and BEG THEM TO VOTE NO!!!
http://www.usa.gov/Contact/Elected.shtml
this is a very important bill for the usa and should get congressional approval.it passed the senate and now awaits the house vote .i know many people feel that the banks are at fault and that they deserve the consequences of their poor performance during credit checks & etc….
i think we should provide for accountability on part of the bailout project; at least we will a better handle on how the money was spent. the one year moratorium on amt taxes is good for the economy . it will put more into the econmy when it is needed.
good luck usa.
BOOOOOOOOO!
so much for mccain being the heir to reagan. he never ever would allowed such a bill!
getting rid of capitol gains tax, drilling in alaska, and getting whatever government was in wall street out would have turned around the market by friday, but no! the government wants more of our money, so that they can flush it down the toilet!
i think its time to tell these democrats and rino’s to take a hike!
#1, true; #2, partly so.
The reason for this “bail-out” is the one Shlomo HaMelech expressed in Koheles: “ViHaKesef Yaaneh Es HaKol”. This “bail-out” is for the “money” sector; autos and farming have nothing to do with it, and, likely, would not be “bailed out”.
Incidentally, the airlines were, IIRC, “bailed out” after 9/11.
V’al Hamedinos Bo Ye’omer….Eizo Loro’ov V’eizo Losova….8 more days till the final Chasima. DON’T WASTE YOUR PRECIOUS ASERES Y’MAY T’SHUVO CALLING CONGRESS RATHER CALL UPON THE ONLY ONE WHO CAN REALLY HELP MAY HE GRANT ALL OF K’LAL YISROEL GEZUNT UN PARNASSA TOIVA V’CHALCALA.
G’mar Chasima Tova to all
Yet another American mistake!