In addition to the original $85 Billion, now AIG gets a whole lot more.
I just keep thinking of Everett Dirksen:
As I think of this bill, and the fact that the more progress we make the deeper we go into the hole, I am reminded of a group of men who were working on a street. They had dug quite a number of holes. When they got through, they failed to puddle or tamp the earth when it was returned to the hole, and they had a nice little mound, which was quite a traffic hazard.
“Not knowing what to do with it, they sat down on the curb and had a conference. After a while, one of the fellows snapped his fingers and said, ”˜I have it. I know how we will get rid of that overriding earth and remove the hazard. We will just dig the hole deeper.'”
Why do any of us have to be responsible in these days…and how in good conscience can the feds collect taxes, or hospitals send out bills when so many just don’t balance their books, pay their bills, and the Feds pick up their tab off the backs of the rest of us…we really do need a revolution in this country and throw the bums off Wall Street and out of the Capital…Bush has finally blown it with even his most diehard supporters…
1. the democrats are in it with him. No one is clean in this.
For the life of me I will never understand why “maverick” McCain didn’t vote not on this monstrosity of a bill. The only chance he had to be elected was to face off against this socialistic takeover of our economic system.
Nader will now get my vote (as a protest). This bail out was from the beginning the wrong solution to this problem. The fact the AIG folks ran out to California and had a $400,000 party just confirms it.
I will vote for anyone who is against this travesty.
McBama just doesn’t get it.
The problem is that Nader is more of a socialist than Obama. The republicans caved into spending because the Democrats taught them that largess wins elections.
The problem with letting AIG fail is that it owns so many of the PMI policies (the monthly payment that those with less than 20% equity in the initial mortgage pay). If there is nobody to pay the claim on defaults then all the lenders go down. The problem largely has come from the federal government leaning on instituitons to make loans to disadvantaged groups – even Clinton has said that the Dems should have backed Republican efforts (which he claims to have supported) to rein in Freddie Mac and Mae. So it is not Bush’s fault except that he should have shown the courage to stop the government’s social engineering via the credit market. Bush is way more liberal than his liberal critics recognize.
“A billion here and a billion there, and soon you’re talking about real money” —Everett Dirksen
My retirement savings is really down. But that’s ok. I have what I need in life. Just sent my Republican son and asked him if this was what the Republican’s meant by the “trickle down theory”. And your right – Republicans and Democrats are both equally responsible, for both have greedy people in their parties. I loved Everett Dirksen. Was he a Republican or a Democrat? Who cares! He was a wise old man…..where is Washington, Adams, Jefferson etc. when u need them……a pauper’s grave for me…..sigh
Dee, fortunately, my wife and I are pretty well set, but I can tell you this: Neither Obama or McCain will get our votes. We don’t trust either of them.
And no matter which is elected there will be no change.
I wrote to Senator Boxer about this problem, and I laid matters right on the line; telling her nicely but firmly where I stood. I encourage everyone else to write their senators and do the same. They won’t act unless the American taxpayer gives them the incentive to do so.
The charge that liberals, Democrats in congress, ACORN and who knows what caused all this by forcing financial outfits to knowingly make bad loans, and that Bush woudda tried to stop them if he had the time is ridiculous. It sounds just like the “beat me, whip me, make me write bad checks” plea. The bubble got popped and if we finally get some executive leadership they may not take the rest of us down with them. Fact is Bush has deep-sixed his party’s chances, along with the rest of us.
I think no progress will be made until everyone, from the top down, stops treating this as a partisan issue. Less finger pointing, more pulling together, would be helpful.
I came into the world naked, I will leave the same way. Praise the Lord.
Whew! What a relief. Now AIG will have enough to pay for that $440,000 party last week. I was getting worried that the original $85,000,000,000 would not be enough for the executives to continue to enjoy their lives with. This extra $38,000,000,000 ought to come in real handy. Christmas is coming, after all. And that [i]certainly[/i] is no time to scrimp. Bonuses for everyone in the top tier. Uncle Suger…er…Sam, is paying!