Monday, September 29, 2008

I'm just so pissed - NO BAIL OUT


This is what I'm hearing, especially from Suze Orman, regarding this bail out. It seems that we need to pass this bail out so that we can all continue to live beyond our means.

We use credit to buy anything we desire and the credit card companies say "yes", do this. This culture has been encouraged to use credit like it's a personal bank account.

No No No!!! We are here because this has been the way we have been encouraged to live. We have been encouraged to live this way by the very credit institutions that are now in trouble.

This is the natural, logical conclusion of allowing ourselves to continue to accumulate debt. The talking heads are encouraging Americans to support this bail out so that we can continue the same poor credit practices that got us here.


I like what Ron Paul has to say about it.


SunWolf said...

Unfortunately, when businesses (mostly small ones) cannot get the credit they need to resupply, they shut down. When homeowners find that their equity loan suddenly dried up before the project was finished, you have an incomplete house and contractors out of work. I think there is way more involved in this mess than people living beyond their means and engaging in poor credit practices.

Wall Street greed is the biggest problem. And I hate the idea of "bailing them out." But at the same time, something needs to happen to get us back on track.

I don't profess to be an economic expert. I don't know what the right thing to do would be. I just don't want to see more foreclosures and lost jobs and plummeting investments for the average joe...and ME...I'd like to grow my investments, not bury them.

What to do, what to do?

Cathy said...

It is like being stuck between a rock and a hard place.

The small businesses, loss of home equity and the problems this means for the average joe makes it hard to make a decision about this mess.

In the end, for me it is the idea that the fat cats who got us in this mess in the first place will benefit while the average joe will pay...bail out or no bail out.

That is the thing that keeps going around in my head. Whatever they do, this old average joe won't benefit in anyway.

A Girl From Texas said...

I'm so grateful for gridlock.

There are other ways of addressing this situation that doesn't involve giving $700 billion to Wall Street.

I like the 3-step solution that Dave Ramsey has made available on his website. I have already sent it to my state Senators.

Remind Myself said...


Recently an insurance company nearly wind up....

A bank is nearly bankrupt......filing chapter 11 protection.

How it affect you? Did you buy insurance? Did you buy mini note or bonds?

Who fault?

They bailout trouble finance company, but they will not bail out your credit card bills……You got no choice, and no point pointing finger but you can prevent similar things from happen again……

The top management of the Public listed company ( belong to "public" ) salary should be tied a portion of it to the shares price ( IPO or ave 5 years ).... so when the shares price drop, it don't just penalise the investors, but those who don't take care of the company.....If this rule is pass on, without any need of further regulation, all industries ( as long as it is public listed ) will be self regulated......because the top management will be concern about their own pay check……
Meanwhile if company was being acquired, there will be a great movement in terms of staff……eventually staff suffer also.
Some might feel that it sound stupid….. as there is long and Short position…but in reality there is still many different caliber CEO… there is still long and short…..They can ban short selling definitely they can do something about this.......

Are you a partisan?

Sign a petition to your favourite president candidate, congress member, House of representative again and ask for their views to comment on this, and what regulations they are going to raise for implementation.....If you agree on my point, please share with many people as possible.... Finance and Media are the two only industries can shaken politics ( Maybe Hackers can ), please help to highlight also...