Sorry to be off topic from the election but if you havent already noticed the crisis in New York then start your research. As a way out of making the economy any more worse than it already is, President Bush gave a speech today on a $700 Billion loan given to major companies in New York of which have gone bankrupt. Bush said, "We are in the midst of a serious financial crisis," during his speech today. Also that, "Our entire economy is in danger."
Basically the reason they are proposing this bailout is to stop the numerous amount of people filing for unemployment, the people losing their homes becoming homeless, not being able to pay morgages, things like that. I dont have much to say on this because the speech it self was I admit a bit confusing (shocking I know, coming from Bush) but I did find out that Bush plans to meet with both Governors, John McCain and Barack Obama, both in the running for the election (which by the way is in less than 40 days now). Bush hopes "to work on driving toward a bipartisan and timely solution on the financial rescue package," in other words, create a suitable plan for the years to come that both McCain and Obama agree on. Which I think might not be as easy as Bush thinks. McCain stated that if he was president today he would have fired the bailout team. shocker.
I'm starting to notice from the news and such that a lot of people have started to understand the bailout plan over the past week. Realizing that the situation on Wall Street could ruin Main Street too.
Shocking right? not really.
Lets be real here, WAKE UP PEOPLE!! and start thinking about your homes, savings, education funds, retirement funds, OR EVEN THE SAKE OF OUR FINANCIAL HEALTH OF OUR COUNTRY.
To be honest.. I think that this just might work. I'd rather see the nation spend money on helping people that actually live in this nation trying to fight for their living than give it out to homeless that are lazy and dont do shit to make their lifes better. Another thing, this amount of $700 Billion isn't too far from all the money wasted on the war in Iraq which is STILL going on after what 7 years now, alomost 8.
I dont know, give me your thoughts. I need some levrage.
Basically the reason they are proposing this bailout is to stop the numerous amount of people filing for unemployment, the people losing their homes becoming homeless, not being able to pay morgages, things like that. I dont have much to say on this because the speech it self was I admit a bit confusing (shocking I know, coming from Bush) but I did find out that Bush plans to meet with both Governors, John McCain and Barack Obama, both in the running for the election (which by the way is in less than 40 days now). Bush hopes "to work on driving toward a bipartisan and timely solution on the financial rescue package," in other words, create a suitable plan for the years to come that both McCain and Obama agree on. Which I think might not be as easy as Bush thinks. McCain stated that if he was president today he would have fired the bailout team. shocker.
I'm starting to notice from the news and such that a lot of people have started to understand the bailout plan over the past week. Realizing that the situation on Wall Street could ruin Main Street too.
Shocking right? not really.
Lets be real here, WAKE UP PEOPLE!! and start thinking about your homes, savings, education funds, retirement funds, OR EVEN THE SAKE OF OUR FINANCIAL HEALTH OF OUR COUNTRY.
To be honest.. I think that this just might work. I'd rather see the nation spend money on helping people that actually live in this nation trying to fight for their living than give it out to homeless that are lazy and dont do shit to make their lifes better. Another thing, this amount of $700 Billion isn't too far from all the money wasted on the war in Iraq which is STILL going on after what 7 years now, alomost 8.
I dont know, give me your thoughts. I need some levrage.
3 comments:
I have been watching this on CNN, Bush has agreed to some of the things put forth, one important one is no cooperate welfare for wall street, apparently John McCain tried to get the republicans on board but it don't look as though it happened.
See the democratic majority wants I think 120 or so republicans to get on board and work together with each other, this should be a joint effort and if it is not it won't go forward.
Yea, I heard that earlier tonight, nothing from Barack though. I also heard that congress was ready to sign until the two candidates met in Washington where the deal was called off. I for one, thought it was a done deal until today. And McCains attempt to help to me is just a his way of getting in the way. At least thats what their saying down in Washington.
All this goes back to the deregulation frenzy of the Reagan years. Without anyone watching over their shoulder, the financial sector (along with the insurance sector and others) has been fulfilling it's greedy, irresponsible agenda until they have brought this country to its knees. If we are going to put tax payer money into this sector, we need to get something in return. A blank check bailout is not going to solve this problem. In fact, I have my doubts if any kind of bailout will stop the downward economic spiral that is currently in motion. I've been around for several downturns and upswings in our economy, but this is the worst thing that has happened here since 1929.
The one thing that is imperative; we must have a level-headed leader ready to tackle tough issues in the White House if we are to have any hope of recovery.
Hopefully tonight's debate will go forward so everyone has a chance to hear from the candidates.
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