New Bailout?!?

[LuvOrlando]

OK, so I'm ticked.

Tonight I heard that the new bailout is going to be aimed at banks so that they can make money available to people. Ummmm, BANK money is debt money and that translates into US needing to pay back the banks for our OWN TAX MONEY.

A stimulus, on the other hand, is US getting our own tax money back so that we can pay down some of that debt which would also end up making more money available via the multiplier.

UGGGHHH, I am so sick of these snakes messing with the helpless every chance they get! I thought the Democrats were going to help them but the only thing I hear coming from their mouths revolves around the auto industry, which is like spitting in the ocean at this point. The auto industry will only help a small fraction of Americans, and in case no one is looking I think these troubles are a whole lot bigger than that.

THERE ARE PEOPLE WHO CAN"T PAY THEIR BILLS AND WHO BANKS WILL NOT EXTEND CREDIT TOWARDS...these bailouts will not trickle down to them. WHY WON'T OUR GOVERNMENT HELP THEM?!?

 

[blu3d3vil]

I don't blame the auto industry, I blame The UAW. You don't see Toyota (non-Union) asking for a handout.

Of course the UAW and the Democrats are bedfellows.

The Dems don't care about us they care about power.

 

[Zippa D Doodah]

Good questions.
When will this bailout bamboozle stop? Every corporate/industrial hog in America is now lining up to feed at that trough. Taxpayers get the joy of feeding them.

 

[LakeAriel]

If the auto industry fails it means the loss of millions of jobs.

 

[blu3d3vil]

I say help the auto industry but cancel the Union Contracts. That is what would happen if they had to file bankruptcy instead of being bailed out.

 

[Tazicket]

If the auto industry fails it means the loss of millions of jobs.

Exactly - and there are all kinds of jobs that are closely tied to the auto industry that would be impacted as well.

 

[DawnCt1]

I say help the auto industry but cancel the Union Contracts. That is what would happen if they had to file bankruptcy instead of being bailed out.

ABSOLUTELY. Help them AFTER they file bankruptcy and restructure their business. Why throw money into a failing business model. AMEN!!!

 

[Zippa D Doodah]

I say help the auto industry but cancel the Union Contracts. That is what would happen if they had to file bankruptcy instead of being bailed out.

That'd work.

 

[LuvOrlando]

But the auto industry isn't the only industry in trouble. We can't bail out every single industry under the sun. Besides, what's to keep these companies from not closng their doors and outsourcing all the jobs anyway. In all seriousness I completely expect these bailouts to be no more than contributions to executive bonus packages, and the whole thing makes me ill.

I think we need to bail out the people and let them decide how & where to spend their own money. If you think the good people of Michigan would be willing to sign over their checks to the CEO's as a bonus for jobs well done then, by all means they can do it. I, however, think they deserve the choice.... I think I deserve the choice.

PS- sorry if I sound irritable. I'm mad at the powers that be, I'm not mad at people worried about their jobs & lives.

 

[blu3d3vil]

The bailouts should be loans, just like what happened with the Airlines. And there need to be stipulations in order to get the loans.

 

[Zippa D Doodah]

ABSOLUTELY. Help them AFTER they file bankruptcy and restructure their business. Why throw money into a failing business model. AMEN!!!

"Failed business model" is right! Why is it that for all the happy polar bear-hugging talk about fuel efficiency, the best Detroit can do is 35-40mpg on what amounts to a souped up go cart? The alternative is paying out the wazoo for a hybrid. Unacceptable IMO, and this model deserves to fail.

 

[DawnCt1]

The latest bailout that they want in our area and probably New England at large, which depends upon home heating oil. They want to bail out all of the stupid people who locked in a $4.50 per gallon for the winter. Now I am sorry that they panicked and locked in their price. I didn't panic. Lots of people didn't panic. So they are stuck with oil that cost twice. Not my problem.

 

[blu3d3vil]

The latest bailout that they want in our area and probably New England at large, which depends upon home heating oil. They want to bail out all of the stupid people who locked in a $4.50 per gallon for the winter. Now I am sorry that they panicked and locked in their price. I didn't panic. Lots of people didn't panic. So they are stuck with oil that cost twice. Not my problem.

Whats the going rate for home heating oil now? (Not many people in the South use it so I'm not familiar with the pricing)

 

[LuvOrlando]

The latest bailout that they want in our area and probably New England at large, which depends upon home heating oil. They want to bail out all of the stupid people who locked in a $4.50 per gallon for the winter. Now I am sorry that they panicked and locked in their price. I didn't panic. Lots of people didn't panic. So they are stuck with oil that cost twice. Not my problem.

What? Seriously? They want to pay off the difference of a loss caused by dealing with the options markets Ridiculous

 

[LuvOrlando]

Our tax money can't be used as an insurance policy for every bad business decision out there.

It won't work.... this is making me so upset.

 

[Zippa D Doodah]

The latest bailout that they want in our area and probably New England at large, which depends upon home heating oil. They want to bail out all of the stupid people who locked in a $4.50 per gallon for the winter. Now I am sorry that they panicked and locked in their price. I didn't panic. Lots of people didn't panic. So they are stuck with oil that cost twice. Not my problem.

Darn tootin'! You're on a roll today, Dawn. Long story short... this is why I switched to natural gas heating this year.

Having said that, I do feel for those who could not afford to switch out their heat, and maybe locked in prices early because they felt they could not gamble on fuel oil at $6+ p/g.

 

[FINFAN]

and the nightmare begins. I agree with the Union being an issue. No ofense to those who are in one and like it, but as BO offers up to us every chance he gets...CHANGE will happen. I say start with the Unions.

 

[LuvOrlando]

Can a union ever be dismantled once its in there?

According to locals here Bethlehem Steel's union destroyed this region. The whole business dissolved, but I wonder if there could have been another way. Can people vote out a union like they vote one in?

 

[HelenePA]

Whats the going rate for home heating oil now? (Not many people in the South use it so I'm not familiar with the pricing)

Around here is about 2.40$ I'm so glad I didn't panic!!

 

[GeorgeG]

This is going to get much worse. Everyone is going to want a bail-out. The banks created their own problems, the auto industry failed to compete, and many of the people who are in dire straights got themselves there by trying to live beyond their means.

The banks that failed should be bought out by the banks that did it right. The Detroit-based auto industry should be bought by the foreign auto makers, who also got it right. The people who went way over their heads in debt to live beyond their means should simply work harder and live within whatever means they have.

There was a time when if a company went under, the top executives accepted responsibility. Some of them even took their own lives out of duress or shame. We've come to a point where top executives can literally ruin a company and walk away with their pockets full of money and have absolutely no shame about the lives they have ruined. If they can't be put in prison, we, as a community, should at least shun them into being social outcasts. But, no, we continue to reward theivery, greed, incompetence, and conspiracy.

One of these days I'll say how I really feel.