True, they SAY it is a loan as well is that damned loan of $25 freggin BILLION for automakers. This is all simply ridiculous.

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No, it's not a loan either.

The $700 billion would be used to purchase distressed assets.

As far as the automakers, I used to be against giving them a dime, but think about this; the government is mandating what the automakers can sell, in other words, the government is changing the rules of the game in the middle of the game. Why should automakers be put at a disadvantage through no fault of their own?

If they are forcing automakers to sell new products, when the automakers don't really want to, they should be assisted by those who are mandating they change their business model.

If the government came out next week and said all trucks must run on natural gas, wouldn't O/O's have a right to say "If you are making me do this, you should help me convert my truck"?

Now....
after watching yesterday........a quaffed, immaculately groomed "bearer of bad news" Bernanke sit in front of the highest body of our Government, politely and sincerely answering questions....

How would you feel about the "terrible crisis" if you found out that in the past 4 days..... the FED was busy removing $125 Billion out of circulation in a market starved for liquidity..... to amplify the credit CRISIS?
p.s.--- Don't look for this on FOX news
Silk robes and fine hats playing us like a fiddle.... they're VERY good at what they do.
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The Fed has claimed that this is a "liquidity crisis."
Really Ben? Then perhaps you can explain this?





Note that this is an intentional drain of "slosh", or liquidity, from the banking system. $125 billion in the last four days drained?

You wouldn't be trying to intentionally cause a bank failure or two to bolster your call for the $700 billion "bailout" plan, or perhaps intentionally lock the short-term credit markets, would you Ben?

If the market has a liquidity crisis,
why would you be intentionally draining reserves from the banking system? Don't you think you ought to explain that to Congress?

# wiseman
Make NO mistake....
your post about China has EXACTLY the SAME intention and PURPOSE.....
this is a game of HARDBALL with your grandchildren's future.... live free or die.

p.s.--- Do ya think this same strategy would work on let's say.... foreign policy?
Could you maybe blow something up and get a frightened Congress to fund something
or pass emergency "approvals"? Surely they wouldn't do that..... I mean people's lives are at stake.
Support the troops!

i wonder if you are really sean hannity

so according to your logic, when the government mandates seatbelts, they should give me a little something for it

or when the government mandates child seats, i should get some type of handout?

or when the government increases taxes, shouldnt i go to my employer and get more money?

you will switch your principles as long as it supports the "conservative" view as dictated by mr ditto himself

If the government is going to mandate that you change the type of seat belt, after you have built your business to sell the old type of seat belt, which was government approved, then then should make it worth your while.

This is especially true in the auto industry because the government is mandating things like alternative fuel vehicles based on their opinions.

If they want to do things the right way, they would pass a law saying all gasoline powered vehicles are illegal and then the auto industry could fight it out with them in court.

Congress would lose that fight.

I'm sorry my friend, but you have confused the issue here. This bailout has nothing to do with individual homeowners who have gotten in trouble with their mortgages (who most of these people loathe) but instead is a measure to assist the banks and institutions who have gotten themselves in trouble by buying this bad paper.
rx

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"Load the wagon boys, the mule's blind" Smokey Yunick

"Permit me to issue and control the money of a nation and I care not who makes it's laws" Mayer Amschel Rothschild

rex, i am under the understanding it is because of bad loans to homeowners, correct? thus there is a tangible something out there that a debt is owed

if the banks own the homes, then the homes should go on the free market, and bid by public auction

if the people are in the homes and are faulting on their mortgages, then the people should be given this $700 billion, and let the banks get job in mcdonalds (just like you and i would have to do if we screwed up on our job)

my issue is that these companies who need bailing out should NOT be bailed out..........NO GOVERNMENT HANDOUTS!!! or bailouts

A very predictable 24 hours has passed now.

UP news service of course announces 24 hours ago, yesterday,
that "a deal has been struck"
and printed that and sent it around the world.

It was based on a simple conversation with Sen. Barney Frank.

It, of course, was absolutely nonsense and you would have thought,
given
the gravity of the issue, they would have checked with a few other sources for confirmation..... BEFORE printing,
right?

It is the POWER of the press that was being used here....
not to present fact or truth, but simply MUSCLE to discourage dissent....
make the bailout opposition become discouraged and acquiesce.
It is an effective tactic and often used psychological tool
an enemy uses against his opposition... wear them down
and make them think the battle is "over".

It also let's us glimpse once again as to the marriage between government, corporations, special interest, banking and media.
And this convenient marriage, is the classic definition of a growing Fascist State...
not a Hitler type facism.... a soft Facism, a designer Facism, an American Facism.

I think of the quote by Bertrand Russell,

When Facism comes to America.... it will be wrapped in the Flag and carrying a Cross.

polite, unhurried, no spin, .... I appreciate that.... it's rare.
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So now it is becoming a little more clear as to the tactics of the Dems who want McCain to go home. One of them (yet to be named) tried to slip an earmark into the bill...........100 million to go to ACORN!!!
And the honorable Harry Reid tried to get the ban on the development of shale oil resources tied to the bailout bill. There is more oil in that shale than all of the Mideast but the Dems wont let it be mined.
ABSURD!!!!