A democrat was quoted as saying the deal has “cratered.”
Ugh.
This is like living through a national soap opera–KSH
A democrat was quoted as saying the deal has “cratered.”
Ugh.
This is like living through a national soap opera–KSH
Just the fact that both parties agreed to work on it together scared me… there MUST be a big problem for them to take so drastic a step!
These really are spooky times.
I am not without sympathy for the masses that will be hurt by this but if this whole thing came about because, “It is a classic case of socializing the risk while privatizing the profit”, then the cure is to privatize the loss as well.
Last night I talked to a man who had taken over a business started by his father after WWII. They have had the first month of net loss in the entire history of the business. But not just one month – they are going on 5 months. It is hurting dozens of employees, clients, vendors, and more. His business, in part, serves the construction industry. I greatly resent the acts of our government that would place us in this condition and I also resent that those responsible are still avoiding public scrutiny and censure.
Don
1. Timothy Fountain:
[blockquote]Just the fact that both parties agreed to work on it together scared me…[/blockquote]
I note that you see one reason to worry – I see two.
1. Yes, it must be serious. Much can be lost in the next days. We hang in the ballance.
2. These polititians must have big fish to pull out of the fire. Who will grease the wheels of government if their buddies go under?
Sorry to be so crass but this congress is even more corrupt than the 1980’s congresses were – and I thought such corruption couldn’t be exceeded in this country. I was wrong – we are seeing it.
Don
“This is like living through a national soap opera”
Yes, but perhaps a soap opera in which family dysfunction yields a wiser result than Uncle Sucker’s Quick Fix.
Don #3 – uggh – your point (2) has me running for the Maalox! I fear you are right.
Frankly, I’d suggest the soap-opera feeling is in large part due to the incessant, penetrating MSM coverage of every aspect of the crisis and the election campaign on its periphery. It’s not as if other nations or even multi-national entities don’t also have crises – how many get the air-time of this one?
[url=http://wpcomics.washingtonpost.com/client/wpc/po/2008/09/17/[/url]
I meant that as a link – sorry
http://wpcomics.washingtonpost.com/client/wpc/po/2008/09/17/
Good cartoon [#8]!
For Tom Tomorrow’s take, see
http://action.credomobile.com/comics/2008/09/financial_meltdown.html
“Frankly, I’d suggest the soap-opera feeling is in large part due to the incessant, penetrating MSM coverage of every aspect of the crisis and the election campaign on its periphery” —#6
These bailouts will cost more than the Marshall Plan. They deserve serious public attention—and would benefit from a good measure of public outrage. If that discomfits those who fume about the evil MSM, then so be it.
Apparently, the Republican members of the House in particular have been deluged with emails and phone calls from constituents very unhappy with the idea of bailing out those too irresponsible to handle their company affairs. It doesn’t help when items like $25 million (or maybe it was billion?) to bail out Detroit automakers are included in the deal.
I sent some of those emails myself, Branford #11, to my two Senators (R), and to my Congressman (D), who won’t listen to me, and to Sen. McCain. If this bailout is necessary, and something apparently needs to be done, it should be structured to reward those who act responsibly and not to reward those who haven’t.
I don’t think the bailout is necessary. I think we need to go ahead and take the recession as hard as it is.
Truth is . . . there will be people [and I’m NOT one of them] who have savings. And . . . they’ll buy things cheap. In my town there are folks making great deals on real estate now — and there’s plenty of credit out there . . . you know, for the people who are able to get credit. ; > )
I’m inclining your way, Sarah. I am particularly upset about the demands that money be advanced to “keep people in their homes.” We have a home and a mortgage. We bought a house well below the price for which we were mortgage-qualified, with a fixed-rate mortgage which we should be able to pay for a year or more even if we’re out of work, because we keep a cash reserve, and which is reasonably sized so it should be possible to sell it. People who rent sign a lease for a year, and if the price goes up too high, they move. Why should the public pony up money to help people who didn’t make wise decisions keep mortgages they can’t afford?
I am halfway inclined to say, let the markets drop and let those who invested in funny money pay, even thought this may very well affect my husband’s retirement date.