Why did the bailout fail??

[bsnyder]

That's an interesting million dollar question. I can see how information like this might make one reconsider the bailout plan.

Maybe there should be no deal. Maybe the best thing for the economy is that there is no bailout package. I might be able to buy that. And I think most Americans are willing to buy that too.

But if you want to make that argument, you actually have to stand up and make the argument. The Republicans could have pulled out of the negotiations and nominated one person to explain to the American people why doing nothing was the better option.

It would have to be a reasoned and persuasive argument, one that everyone could understand. If they really wanted to make their point, they could have found some prominent Democrats to stand with them while they made their case.

But that is what would have happened in the universe where the current Republican party is not a children's party.

In our universe, the Republicans are children so they acted differently. Republicans pretended they were negotiating with the Democrats and the Bush administration. Then they pretended they supported the deal. They even got McCain to say he supported the deal. Then they pretended they had enough votes.

Then they surprised America. SURPRISE AMERICA!!!

None of it was true. The best part of the surprise is that they promised one thing to the markets and pulled the rug out at the last moment. Markets love surprises. That's why the markets got so excited today.

Now here's where it gets real good. After tepidly negotiating, after pretending to be on board with the agreement, after not delivering the votes - they blamed everything on a the Democrats. Well, mostly they blamed it on a mean old lady who they are pretending offended them.

I heard that after they blamed Democrats for everything, the Republicans rented a Burger King for a few hours and went crazy. They all got to wear funny hats and eat whoppers till they got sick.

Where did I argue that there should be no deal? I don't think I've ever made that arguement.

Maybe you could dredge up just a little of your former Reagan conservativism to comment on how we got in this mess to begin with. A little honesty on that issue would at least give us a chance that we don't completely waste billions of taxpayers' dollars yet again, with this bailout.

 

[MrsPete]

How educated to the issue is that 70% - I'm not slamming, I'm truly curious.

I wonder the same thing. I mean, I totally get the concept of HOW DARE THESE COMPANIES BEHAVE WASTEFULLY THEN TAKE MY HARD-EARNED DOLLARS! But on the other hand, I know that if the bailout doesn't happen, millions of middle-class Americans are going to see their pensions and 401Ks disappear, their jobs disappear, etc.

But I don't know that I'm well-versed enough in economics to say officially, "This is a good idea." I don't think this is the kind of topic that should come to public vote, nor should all the lawyers and politicians in congress make the decision. It should be decided by economists who will not personally profit from the decision.

If I were in charge of the world, however, I'd start by slashing congress' benefits and using that money to pay for a portion of the bailout.

 

[jenrose66]

I vote...and I was completely against this bailout and was happy when it failed.

Though I do agree with you, that this country could benefit from higher voter participation.

And I do understand what is at stake...but I don't think the bailout is the answer...and sometimes when I feel like maybe the bailout is the only solution, I think about how Bush is saying, "we have to pass this, it's urgent" and I remember that I don't believe a word he says. So the fact that Bush is saying this bill is so important, makes me certain there is a better solution.

 

[Disney Doll]

I'm sorry but the everday average American does not understand why the bailout has to happens. It needs to be explained in everyday average words and not by an elected representative. We need someone to be on the television stressing why this is so important. The avereage hourly worker more than likely does not understand how this will trickle down to him/her.

They really won't understand until the house is lost, jobs are scarce, or retirement accounts are at zero.

I'm disgusted with every elected member of congress and our president that we are even in this predictament. At one time when our elected members could work together for the greater good of this country and neither side could past their petty partisan issues to do what was needed. I think it shouts volumes about our elected officials.

What Tina said.