Bailout Yeah or Neah

Bailout Yeah or Neah

This is a discussion on Bailout Yeah or Neah within the Off Topic & Humor Discussion forums, part of the The Back Porch category; Just wondering what everyones thousghts were on this? Not looking for any political debate on the issue to cause problems just a simple yes or ...

View Poll Results: Bailout Yes or No

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  • yes

    19 23.17%
  • no

    63 76.83%
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Thread: Bailout Yeah or Neah

  1. #1
    Member Array wareagleky's Avatar
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    Bailout Yeah or Neah

    Just wondering what everyones thousghts were on this? Not looking for any political debate on the issue to cause problems just a simple yes or no.

    I fall into the no category and so do most of the people I have spoken with around the Lexington area. Just wondering what some of the thoughst around the country are.


  2. #2
    VIP Member Array Kerbouchard's Avatar
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    I'm a no. They didn't learn their lesson in the 80's when this exact same thing happened, and if they get bailed out this time, they won't learn their lesson, again.

    Bad and irresponsible decisions should have adverse consequences. If we remove those consequences, there is no reason to make responsible decisions over irresponsible ones. You can't have capitalism on the way up, and socialism on the way down.

    For an enlightening article from the NY Times(Yes, the NY Times actually wrote something worth reading), check out this article from Sept 1999.

    I won't quote any part of the article, but it is very enlightening...

    http://query.nytimes.com/gst/fullpag...=&pagewanted=2
    There are two sides to every issue: one side is right and the other is wrong, but the middle is always evil.

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  3. #3
    VIP Member Array JAT40's Avatar
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    Bailout or not, I think we are in for a rough ride. I voted NO, any time the Gov. gets involved they make it worse in the long run. They don't have the money to give, they will just print it, that will devalue the US dollar even more. We all will be paying through higher inflation. Let the chips fall where they may, stock up on food & ammo. Stay out of debt. Cling-On!!

  4. #4
    Senior Member Array cwblanco's Avatar
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    Quote Originally Posted by JAT40 View Post
    Bailout or not, I think we are in for a rough ride. I voted NO, any time the Gov. gets involved they make it worse in the long run. They don't have the money to give, they will just print it, that will devalue the US dollar even more. We all will be paying through higher inflation. Let the chips fall where they may, stock up on food & ammo. Stay out of debt. Cling-On!!
    You are right. There comes a time when we must suck up and take the hickey now. Although there may be hard times ahead, in the long run things will be much better if we set out foot down and adopt a policy that says we are thorugh supporting the lifestyles of rich crooks.

    We already have bankruptcy laws which will allow the orderly liquidation of properties without causing fire sale prices.

  5. #5
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  6. #6
    VIP Member Array farronwolf's Avatar
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    Not just no but heck no. Let the thing ride and see where it ends up. If we have a recession or a depression so be it. The folks wanting the bailout to happen haven't a clue as to how it will even work. That in itself seems too risky to me.
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  7. #7
    Member Array libertarian5's Avatar
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    I voted no.

    These so-called bad risk securities are not worthless - they have some cash value and are backed by real property. As their value falls, sooner or later they will be priced appropriately and people will buy them up via normal market activity. If some greedy speculators end up losing in the meantime then so be it. Really what is being asked of the American people is to buy them today for more than they are really worth. These people are all for capitalism and the American way when they are getting rich, but transform into socialists when they are on the losing end.

    Besides, it won't stop with Wall Street. I receive dozens of pre-approved credit card offers every month. What are we going to do when these credit cards companies all begin to fail? Are we going to have to bail out the card companies?

    FWIW, I have lost a lot of my retirement savings because of this mess. I'm sure a bailout would help my finances in the short term. I really doubt it would do much for the health of the economy.
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  8. #8
    VIP Member Array wmhawth's Avatar
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    I'm retired. My 401K and my pension are directly effected by the health or lack thereof of Wall Street. Someone needs to hang for the mess we are in and I hate bailing the banks out but under the circumstances, I voted yes.
    Last edited by wmhawth; September 26th, 2008 at 02:16 PM. Reason: Spelling

  9. #9
    VIP Member Array Paco's Avatar
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    I think we are in for a very bumpy ride either way, just that the bail out would drag it on for a while at the same time not doing anything to curb the cause.

    I think the failing companies should go up on the block. WaMu is a perfect example of how this can safely be turned around. They failed and were bought up, problem solved.
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  10. #10
    Member Array airbornerangerboogie's Avatar
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    I voted "no"

    We're being asked to float a +$700 BILLION dollar bail-out, not just that, but don't ask any questions and let 1 group decide how it's going to be divided out and to who; and oh by the way; we're also told that it may or may not work and we will probably be asked for more later.....

    People! I wouldn't give a loan to my kids under such terms, much less this bunch of weasels. This thing will most likely pass, but there should be a ground swell of protest and each yes vote by our elected officials should be noted and an e-mail sent to them to say "pack your bags and don't bother running for re-election."
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  11. #11
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  12. #12
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    Quote Originally Posted by Paco View Post
    I think we are in for a very bumpy ride either way, just that the bail out would drag it on for a while at the same time not doing anything to curb the cause.

    I think the failing companies should go up on the block. WaMu is a perfect example of how this can safely be turned around. They failed and were bought up, problem solved.
    i agree

    it's a catch 22 here...screwed either way. we just have to choose whether or not we want sugar to make swallowing the pill easier.
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  13. #13
    Distinguished Member Array bandit383's Avatar
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    Regardless, the timing could not be worse for this administration and the election...and may drive a nail into the conservatives, not only in the General election, but also State elections. This is lose lose either way...if one is retired and not pulling a bounced gov't check...one might consider looking for work.

    Rick

  14. #14
    VIP Member Array Paco's Avatar
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    Quote Originally Posted by bandit383 View Post
    Regardless, the timing could not be worse for this administration and the election...and may drive a nail into the conservatives, not only in the General election, but also State elections. This is lose lose either way...if one is retired and not pulling a bounced gov't check...I might consider looking for work.

    Rick
    The problem is that both sides of the isle are to blame, but the Repubs are in power therefore they will get the blunt of the blame.

    I find the stupid photo op both candidates too with GWB to be just that, stupid. What do they honestly think they can all do in a day or 2? They are going to tank the value of the USD even more than it already is just so they can all get their names in the history books as those who cared enough to try and save the American economy, by basically adding 1 more freaking nail in the socialist coffin.

    The US Govt does not belong in the banking business, they can't freaking manage the money they steal from us monthly what in the makes them think they can bail out several large bank/brokerage firms?

    We need to suck it up and take the hit, hold those responsible accountable for their actions and start today to rebuild the economy to come back stronger than before.
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  15. #15
    VIP Member Array Kerbouchard's Avatar
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    Quote Originally Posted by Paco View Post
    We need to suck it up and take the hit, hold those responsible accountable for their actions and start today to rebuild the economy to come back stronger than before.
    Yep
    There are two sides to every issue: one side is right and the other is wrong, but the middle is always evil.

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