Bush says Mae/Mac Bailout not a bailout.

[Socrtease]

It is JUST congressional authority for a line of credit for these two institutions IF they find it necessary. And by making it available, they won't use it right? Why is it when John and Jane Q. Public make financial decisions they are on their own ( which in my opinion they should be) but when large financial institutions make bad financial decisions they get the tax payer to bail their asses out? Are financial institutions MORE inportant that the tax burden on the american people, or even more important that John and Jane?

[Panda Hugger]

So you don't think that it would be bad for the economy if half of our mortgages defaulted?

[Cancel5]

Pappy Bush had a bail out, Jr Bush needs one, too! But it is not a bail out. They always re-invent the language, don't they!

[Don Quixote]

his lips moved, therefore he must be lying

i wonder how many non-bailout bailouts will occur during bushco's terms

[TRGLDTE]

So you don't think that it would be bad for the economy if half of our mortgages defaulted? It would be, but we're not even up to 5% yet so this is a strawman.

[uscitizen]

Well 5% seems to have been bad for our economy so far.
so that was also a strawman. ;)

[Topspin]

water gerber foreclosures are not even at 2% on prime loans.

[Superfreak]

It is JUST congressional authority for a line of credit for these two institutions IF they find it necessary. And by making it available, they won't use it right? Why is it when John and Jane Q. Public make financial decisions they are on their own ( which in my opinion they should be) but when large financial institutions make bad financial decisions they get the tax payer to bail their asses out? Are financial institutions MORE inportant that the tax burden on the american people, or even more important that John and Jane?

Do you really think these bailouts are not helping the individual? We are bailing out the idiots that both made the loans and those that received them.

[TRGLDTE]

So in essence, the ones who pay are the ones who exercised responsibility in the first place.

[Superfreak]

So in essence, the ones who pay are the ones who exercised responsibility in the first place.

Unfortunately... yes... that does seem to be the trend. Which I agree is bullshit. I just wanted to point out that it is not just the corps being bailed out here.

[Socrtease]

Do you really think these bailouts are not helping the individual? We are bailing out the idiots that both made the loans and those that received them.And i don't want to. I thought Bush and his ilk were all about personal responsibility? No one forced them to make the loans or take the loans and no one should have to bail their asses out

[uscitizen]

And i don't want to. I thought Bush and his ilk were all about personal responsibility? No one forced them to make the loans or take the loans and no one should have to bail their asses out

Yepper :clink:

I have yet to see any personal responsibility from this administration though.

where is the let the market decide thing anyway ?

If B&S goes down then the market decided.

[Superfreak]

And i don't want to. I thought Bush and his ilk were all about personal responsibility? No one forced them to make the loans or take the loans and no one should have to bail their asses out

I agree. I think we should let them fail. Then make sure that people learn the lesson from this. I think Freddie and Fannie should have gone down and let those that run a good business come in and buy them out for pennies on the dollar. Which would give the buyer all the cushion they need to withstand the foreclosures/defaults that are yet to come.

One of the most frustrating things about this is that it is all happening in an election year where the idiots in both parties are pandering to everyone they can for the sake of votes rather than what is best for this country.

[uscitizen]

It would make no difference on the big guys if it was an election year or not. They would get bailed out.
It is however convenient for both parties to blame it on this.

[Panda Hugger]

Unfortunately... yes... that does seem to be the trend. Which I agree is bullshit. I just wanted to point out that it is not just the corps being bailed out here.

It's our societies fault for allowing that kind of idiot to take place. It's conservatisms fault.

[Socrtease]

I agree. I think we should let them fail. Then make sure that people learn the lesson from this. I think Freddie and Fannie should have gone down and let those that run a good business come in and buy them out for pennies on the dollar. Which would give the buyer all the cushion they need to withstand the foreclosures/defaults that are yet to come.

One of the most frustrating things about this is that it is all happening in an election year where the idiots in both parties are pandering to everyone they can for the sake of votes rather than what is best for this country.EXACTLY my fucking thought. When businesses go belly up there are other businesses there to pick up the pieces and make it work again or put those pieces into their businesses and make them work there. I don't want the Government, and by extension, the tax payer to have to bail out the businesses OR the borrowers.

[uscitizen]

Bush said it is not a bailout so it is not a bailout right ?
Well at least to 28% of us anyway.

[Don Quixote]

Do you really think these bailouts are not helping the individual? We are bailing out the idiots that both made the loans and those that received them.

or deceived them

[AssHatZombie]

It is JUST congressional authority for a line of credit for these two institutions IF they find it necessary. And by making it available, they won't use it right? Why is it when John and Jane Q. Public make financial decisions they are on their own ( which in my opinion they should be) but when large financial institutions make bad financial decisions they get the tax payer to bail their asses out? Are financial institutions MORE inportant that the tax burden on the american people, or even more important that John and Jane?
This is what I'm talking about in the other thread about corporations having special rights over individuals. It's bullshit.

This is fascism plain and simple. And bush the "free marketeer" is busted as the fascist he is for mouthing this propaganda.