The bail out

[TulsaSpider]

No one knows the outcome of this thing but something needs to be done. I think it's definitely a no win situation. The key is here is will we learn from it? These lending practices were simply criminal, yet there were no laws in place, and it was simply ignored everyone knew about this! These golden parachutes are criminal as well there is no incentive for these guys to do well, so if I run my company into the ground then I get 14 Million cool! There's a minimum wage, why no max? Cause that's unamerican! The growing gap in the poor and the wealthy in this country has happened over and over in history. It usually contributes greatly to the downfall of the society.

[mdrburchette]

I agree Danno. I too grew up poor. I didn't realize it at the time, since we had everything we needed, but thinking back, I remember many things the family did to survive on less than nothing. Shoot, I thought everyone ate deer, squirrel and rabbit, went to the fields to get what the farmers missed and shopped at the local Goodwil! But, this has made me very frugile with my money. I don't buy new cars or go shopping just for the heck of it. We took three years to build the house of our dreams after we saved thousands of dollars to get it started. Society today needs to realize their limitations and stop buying everythig they want on credit. Ron and I often see large new houses with two new cars and boats sitting in the driveway and we wonder what kind of job these people have to be able to afford such luxuries. I can't see how this bailout is going to help me.

[So Cal Mark]

will we learn? no chance. The Savings and Loan industry was just bailed out in 1999. The only thing learned is how much can be sucked out of taxpayers. The reason for the bailout is that these corps are too large to let fail; the govt can't cover the guaranteed losses. Now we have even larger banks since the failing banks have been merged into other banks. Any one single failure will bankrupt the FIDC.
I read an analysis of the bailout; it was described as borrowing truckloads of money to compensate for previously borrowing truckloads of money. Start believing that the middle class will disappear soon. You will either be part of the 1% that has everything, or part of the 99% that has nothing.
The super-intelligent VP nominee Sarah Palin claims she is middle-class. She owns a large lake-front home with 2 boats and a float plane, two vacation homes and earned $230,000 last year. I'd say most politicians are completely out of touch with what middle-class is in this country

[pope]

I think we should get back to talking Spider and not let political views rub some the wrong way. Everybody loves their Spider.

[johndemar]

I find it sad to see that this entire mess has been turned into a political leverage issue with one side pointing fingers at the other instead of focusing on a true long term solution. It's way more complicated than I can fully comprehend, but the short of it is that money was lent to people when it should not have been. Kind of reminds me of a used car commercial when they state, "no job?, no credit?, no problem......come on over, put zero down and drive away today!"

This problem didn't happen overnight, and while home ownership for all is a worthy goal, it simply isn't fiscally realistic or responsible. Humorous that the same members of the house that were laughing and slapping themselves on the back today saying look what we did for America, were the same ones that 10 years ago pushed legislation to allow Freddie to give away the ridiculous loans in the first place.

No matter which way the vote went, there would be no winners. If you get up and go to work each day you're the loser. Unfortunately we live in a country of instant gratification and damn the consequences. And I don't see it changing, no matter who comes out on top in November.

[kristoj]

The super-intelligent VP nominee Sarah Palin claims she is middle-class. She owns a large lake-front home with 2 boats and a float plane, two vacation homes and earned $230,000 last year. I'd say most politicians are completely out of touch with what middle-class is in this country

So at $230k a year, wouldn't that put her below the poverty level in Southern California?:lol: