Comments on: $700 Billion Government Bailout Could Really Be $839 Billion

By: MoneyNing

MoneyNing — Mon, 29 Sep 2008 21:48:59 +0000

Debt Reduction: ACCORN stands for Association of Corrupted Organizations for Registration of Non-eligible

The Democrats wanted to push 20% of all profits from the bailout into the Housing Trust Fund. This fund can be used for different things but it has been used to fund political-action groups like ACCORN and the National Council of La Raza in the past.

By: Debt Reduction

Debt Reduction — Mon, 29 Sep 2008 21:19:14 +0000

Can you explain what Accorn or Accord is? I was told that $140 billion was taken out of th bill for this. Isn’t this the PAC in Chicago that Obama defended when he was an attorney?

By: Joseph @ Debit versus Credit

Joseph @ Debit versus Credit — Fri, 26 Sep 2008 06:02:41 +0000

Unfortunately it’s so difficult to really know what would be better for our country when it comes to this so-called bailout. I’m personally of the opinion that it may do more harm than good over the long-run… but again it’s such a complicated issue. I do think that the government buying up all of these troubled assets could end up being profitable sometime in the future, but the big keyword here is that they COULD.

Things are just so uncertain right now. With that being said I just wrote a post recently that lists 5 reasons we don’t need the bailout. You should check it out!

http://debitversuscredit.com/2008/09/5-reasons-we-dont-need-no-stinking-bailout/

By: First Step

First Step — Thu, 25 Sep 2008 18:45:58 +0000

Why is it the big guys belittle the small guys, yet the little people has to play the bigger person when there is a crisis. Why don’t the wealthy 4% who are tax exempt or pay very little taxes bare this burden, do they not have it to spare. Why don’t some of those CEO’s that got wealthy in this give back some of what they received. Why don’t Bush get some of that money that’s floating around in Iraq to help foot this bill. I just hope none of this will be used to help build Bush Presidential Library. The government can bail these companies out, all I ask is may a righteous eye stay on this money and where every cent goes.

By: marci

marci — Thu, 25 Sep 2008 16:13:22 +0000

You asked: How would you feel if the government does nothing and your bank files for bankruptcy and FDIC falls apart too? Isn’t that a bigger problem?

I say, How about if the government does the bailout, it doesn’t work, then what happens? The banks still might file for bankruptcy, the FDIC might fall apart, and the bailout failed…. that would be a terrible problem.

Just because they do the bailout doesn’t mean that it will be successful and the catastrophe might not strike anyway. There are no ’sure things’ in this economy. One can hope for the best and be an optimist, but that doesn’t mean it will work.

That being said, yes, I believe that something HAS to be done – therefore, if the bailout is the way they are going, I will support that effort. It seems to be the only game on the table at the moment.

By: Jumbo CD Rates

Jumbo CD Rates — Thu, 25 Sep 2008 03:20:16 +0000

The problem is the gov’t just keeps acting like money grows on trees. It doesn’t. Our national debt is currently at $10 Trillion dollars. So what the heck, let’s make it 11. Stacking that many one-dollar bills together could circle the earth 2 or 3 times.

Bail-outs increase risky behavior because companies begin to feel that if they just get big enough, the gov’t won’t let them fail.

If the crisis were allowed to cleanse it self, it would right itself again. It is not the gov’t job to rescue companies, banks, and homeowners that should have known better.

Knowing that it is a given that the bail-out is going through, some serious regulations should be put in place. First and foremost, no company should be allowed to get so big, that the world can’t afford for them to fail.

By: Digital Subversion

Digital Subversion — Thu, 25 Sep 2008 02:25:22 +0000

Here’s an interesting idea. If the government is buying up all the bad debt or mortgage backed securities, doesn’t it make sense that the government should own the underlying property as well? That way, if the “owner” sells the property, the government and tax payers would eventually get reimbursed for the bailout.

Man, if I knew that I could take out a ridiculous loan, and then get off scott free, I would have done the same thing!

By: Dividend Growth Investor

Dividend Growth Investor — Wed, 24 Sep 2008 18:27:15 +0000

I think that the government is doing the right thing by ensuring confidence in the credit markets. Otherwise such things as credit card purchases that we all take for granted these days might be discontinued if the crisis deepens.