by 
kool
ANSWERS: 18
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http://en.wikipedia.org/wiki/Great_Depression
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Then we are screwed!
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It shouldn't effect the taxpayers, only those that currently work for either of the banks or insurance companies that are to be bailed out! Bailing them out is the worst possible solution to the economic crises! It will prolong it and make it worse! Others will expect the same treatment!
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the usa will recover one way or another. the terrible thing is we know that the president has hidden agendas attached to the bill. it is one way for him to get his restrictions and government controls through congress. I bet he has some really terrible earmarks and attachments and amendments and other unnecessary laws, rules and restrictions and pork barrel benefits added to that bill. these are his last days in office, and we know he is a liar and doesnt have the good of the country in his heart.
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From: http://www.politico.com/news/stories/0908/13769.html Lawmakers raised doubts about what would be the largest government bailout in American history, but a bigger, more terrifying question lurked right under the surface: What if it doesn’t work? Failure, says one insider, is not an option. “The alternative is complete financial Armageddon and a great depression,” said a former Federal Reserve official. “Where do they go after this? Well, the U.S. government could nationalize the banking system outright.”
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everything else is going to fail and i will turn into a scavanger
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The bankers will roll over and have a cigarette, and we will get the wet spot.
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Here are some predictions: 1) The Dow will fall 700 points and dip below 10,000. 2) Over 3,000 stocks will drop on the New York Stock Exchange. 3) The yield on the three-month Treasury bill will slip to around 0.42 percent, and the yield on the 10-year note will fall to around 3.49 percent. 4) Oil will dip below $90 a barrel. There. Now that the predictions are out of the way, time to go read today's news...
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My question is this: If we're spending $700 billion to buy up CDOs in some mass fire sale, what if in a few years those securities are worth $1.5 trillion? Considering that a humongous investor is just about to scarf up all the bad mortgage derivatives it can out on the street, wouldn't that mean it's a great time to buy CDOs? Am I missing something?
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We will be looking over the smouldering ruins of the world economy. The end has been due for a while now anyway. The economy is so unbalanced it cannot possibly survive. A healthy economy requires all to be able to earn a decent living, and for the money to be spread around, rather than being syphoned out. I say let the banks go bust, it will be really nasty and messy, but afterwards it will be for the best when a new order comes about. based on cooperation and sharing and not greed
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I will try to answer in a serious way, as this issue is very important to me. If you really want to listen to a different perspective, I would highly recommend you listen to Peter Schiff. He has a weekly broadcast you can listen to here: http://www.europac.net/media/PeterSchiff_10-01-2008.mp3 - His predictions have been very keen. People have been laughing at him for years, but if you go back and look at his video interviews on Bloomberg, CNN and FoxNews from about 2 years ago - everything he's said has been dead on. Here is one example about home prices: http://www.youtube.com/watch?v=60CLQse27p8 Take a listen, he explains things in a very clear and concise way.
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This isn't the only thing being done. All the world's national banks are working behind the scenes to reinforce the banking system, internationally. In the next few weeks, watch for other moves being made. I'm not sure if it will work but there was not much else to do. As we speak, markets are opening higher this morning.
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Don't worry they'll just ask for a 700 trillion dollar bailout plan next time!
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In spite of the doom sayer posters here, this bailout can't get us out of this mess alone. Quite a few other things are being done. Today, the Federal Reserve was making short term loans to businesses that couldn't get bank credit. The world's industrialized nations national banks all got together and lowered interest rates by 1/2% all over the world. The US can't fix this thing alone. It's far too big. It's all about confidence. Read these. They may help you see what's happening. There are three short articles so far: http://marshandassoc.blogspot.com/
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we all starve.
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You won't have long to wait to find out. It will fail. We need the government out of this. They created it.
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IT DID'NT WORK LIKE IT WAS TOLD TO US LIKE IT WAS SUPPOSE TO. PRESIDENT BUSH JUST GAVE THE MONEY AWAY TO HIS HIGH ROLLER FRIENDS, WITHOUT CONDITIONS. NOW HE WANTS $350 BILLION MORE FOR WHAT EVER, YET NOTHING HAPPENS. IF IT WERE I I'D PUT SANCTIONS ON IT LIKE LOANING MONEY TO PEOPLE AT TODAYS RATE, WHETHER THEIR CREDIT IS GOOD OD BAD. HAVE A NICE DAY. MIKE
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ITS NOT WORKING, BECAUSE THOSE BANKS ARE'NT LOANING THE MONEY.
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