Anyone watching/listening to the news?

[mom'sfolly]

Here is the text of the proposed bill, near as I can tell. It seems much different from the recently defeated bill.

http://senateconservatives.files.wordpress.com/2008/10/bailouttext.pdf

also here, but the government site is very slow due to the amount of traffic

http://financialservices.house.gov/

 

[the1much]

thats why they call it a gamble,,, or in their words,"there are risks" you gave your money to someone else for a chance they would make you more. Yes its sad it happens, but everyone that invests KNOWS its a gamble. NO investing in others is the ONLY way to not have that risk.
when people start a new company, its their risk,, everyone KNOWS that if they invest all they have in their new company, there is a risk it wont work out the way you thought.
NOT saying you did wrong,,but you did take that risk, along with millions of other people,,, i had a hard time taking the risk of starting my own businesses, i knew that it only takes a little "opps" to loose it all,,,, and how people can trust someone that really dont even know them or CARE about them with their money to take RISKS with it is beyond me. why dont people invest in themselves? why not take that $ and pay off your house,, the very second you pay it off, your investment JUST paid off,,, BUT people dont think of it like that, they think investing doesnt pay off till they make 40 or more % back from that money.
so say you have a mortgage,, pay off in half the time as your term,, how much $ in interest did you just save?,, THERES your 40% return on your money,, and there wasnt any risk.

 

[ronshoney]

I am glad the bail out did not go through........ I just learned that on here as I hadn't had time to look and I hardly ever watch t.v. any more. If we have to tighten up so be it.

 

[joebryant]

Personally I don't want to see anything done until at least a thousand of the worst blatant thieves and their hired politicians are either shot or get thrown into prison cells as roommates with bubbas.

 

[Promiselandfarm]

303,824,640 (July 2008 est.)
Age structure:

0-14 years: 20.1% (male 31,257,108/female 29,889,645)
15-64 years: 67.1% (male 101,825,901/female 102,161,823)
65 years and over: 12.7% (male 16,263,255/female 22,426,914) (2008 est.)


I personally am not or was not for the bail out but my husband is because of the long term effects it will have. I was listening to Dave Ramsy on the way home from Nashville. The man was complaining he could not make his 6000.00 dollar house payment. I am sorry could he not live a little more modestly? I have a hard time when those who can not make the payment on lavishness want someone else to bail them out. I am caring but really why should the others who have managed or not purchased a home suffer for those who had to have bigger than their pocketbook could pay for? If you lost your job, understand, put your home up for sale and take what you owe and rent for a while. Been there done that it humbles you but does not kill you. We live on a shoestring budget pay check to pay check but I do have a bunch of kids so it is my fault I guess you could say, but I would rather have them than not. Why is it only big business counts? Remember when Katrina hit I think we gave money to the oil companies to help with repairs did we not? Companies who make billions of dollars in profit. Why are we wanting to purchase bad loans from a bank? Are we going to hand out those houses to the homeless? Or all get in line and see who get them? Take a number lottery thingy? NO I bet not WE get to pay and those making the bad choices still get to play as usual. Sad really Sad. It may take us going into a depression before big spenders using credit get a real taste of what one really can not have. But then again in the depression those with money or lots of money did not suffer nearly as bad as the poor. So this is what is called between a rock and a hard place. It is bad no matter what they do. So if we don't pay China ? Do they get Manhattan? New York? California?? What? If we don't pay Russia do they get Texas??? Oklahoma?? Florida? What?

 

[claud]

Quote:
With a 401k you can move it to a money market which is safer but doesn't yield much. Talk to your financial advisor at your place of employment. It does seem that people are punished for doing the right thing and taking responsibility for their future. I don't think it will be the "big guys" that are going to suffer if some form of the "bail out" doesn't happen. Contrary to what most people seem to believe, it will be the "little guys" like us that are going to suffer the consequences.

 

[LoneCowboy]

The1much, you are right on the money. It was a risk, we all knew that when we did it, and oops it didn't work this time. We knew that could happen so why to we get all upset when it does? I know, I still get upset too, but that's just how the game is played.

I spoke to my financial planner and good friend the other day, he's a VP at one of the big security firms, and he told me that right now there are no safe places to invest. When the market does something you move it to stocks, another you move it to bonds, etc. Right now there's no safe place to move it. I moved my personal mutual fund money (very little) to cash.

 

[Mahonri]

Looks like the Senate approved the bailout.

It's the beginning of our slide down.

 

[chickens4jojo]

That is bad news.

 

[redhead83402]

I agree with Mahonri, Reinbeau, & the1much, ~

I do not feel that each & every man, woman & child in America owes around $2500 to these poor business decision-makers. This is what the price tag of the bailout will be. Our tiny babes will grow up with a price on their heads, owing $$ before they can add their first pennies. We are already taxed enough. Must we become enslaved for the selfish designs of these people? America is already in such a disgusting debt slump ~ how could ANY truly serving congress/ senate member feel as though adding $700 BILLION to our already bent backs is a good idea? Our Founding Fathers are likely turning in their graves right now.

You know, my husband & I just started up a business 2 yrs ago. We have been through some VERY lean times as a result. We have eaten nothing but homemade bread & bean soup, because that is LITERALLY ALL that we had. And the vegetables that we used to flavor the soup was from 35 yr old food storage. Yes, food from the 70's! But do you know what? We did NOT go onto welfare, we did NOT choose to further cripple our neighbors or our nation because of a business choice that WE CHOSE. Our children did not get a single thing for Christmas from us, that we didn't already own. We just gave them some things from our own childhood that meant something to us. We didn't have money for heat through the winter, but we do have a woodstove, so we went to the dump & salvaged wood. We barely survived on just over $11,000 that first year. But do you know what? We HAVE survived it. Our family has grown closer, & we have learned to do without, to live within a budget, and beneath our means. Perhaps the government could do as well.

I do NOT understand WHY people like myself & my family ~ regular joe-schmoe's~ can go through THAT without getting bailed out, & yet there are those in high-standing government positions (even our own President!) who would gladly heap on further taxes to bail out these previously EXCESSIVELY wealthy (but apparently poor money managing) companies. What should happen now? I reccomend looking in the LDS churches Welfare System. It includes people working for what they get, getting help in a DIGNIFIED, ETHICAL way, that actually improves the recipient, rather than just ~bailing them out.~ All work for the good of the many, no-one goes without, but neither does anyone leech off of others, adding further to the burden of all, while some few take it easy, either living off the top or sucking off the bottom.

I recognize that there are situations where some sort of welfare or help is needed, and it is not wrong to be on the needy end ~ however, once help is given, one should be desirious to then stand up & help others.

These are such serious issues, I pray that our elected leaders take long & thoughtful prayer to the table before they vote again.
~Red