700 Billion Bailout...fuck that...give me my share...

[chefmike]

Don't we have roughtly 300M citizens in the US?

Let's just divvy up the dividend between taxpayers, tax it accordingly, and let the chips fall where they may...

[Quiet Reflections]

what makes it worse is that its Billion and not million. thats alot of zeros

[chefmike]

So how much do I get?

[pnwguy24]

700 billion / 300 million is only $2333.00 per person

[chefmike]

700 billion / 300 million is only $2333.00 per person
Then we will obviously need a much larger bailout.

[IsuckTgirlCock]

always the poor bitching and crying, if they tried to get rich as much as they bitch about the world. we wouldnt have poverty. never see a millionaire waivign a picket sign

[NYBURBS]

always the poor bitching and crying, if they tried to get rich as much as they bitch about the world. we wouldnt have poverty. never see a millionaire waivign a picket sign

No but at the same time do you REALLY think this bailout is to help the poor? This is social welfare for the mega rich.

[chefmike]

always the poor bitching and crying, if they tried to get rich as much as they bitch about the world. we wouldnt have poverty. never see a millionaire waivign a picket sign

All kidding adside...who is asking for a handout, other than Wall St you fucking imbecile...it's obvious that this won't impact a cretin such as yourself for many years(if ever) since you apparently reside in your parents basement, or some sort of special needs facility, halfway house, etc....

[SarahG]

always the poor bitching and crying, if they tried to get rich as much as they bitch about the world. we wouldnt have poverty. never see a millionaire waivign a picket sign

FINALLY, someone discovered how to cure world poverty!

:roll: :roll:

Er wait, do people in power use that power to try to keep their superiority status at the cost of the "impoverished"?

Darn, guess we'll have to find another way besides motivational speakers (if the problem is not just laziness).

http://www.youtube.com/watch?v=ppN-Q4fCpoQ

[Alyssa87]

I understand how important it is for the sake of the economy that these lending institutions remain in business.

But the people at the top need to get the boot! and the general public needs to become better informed about predatory lending.

I know this may sound terrible, but i'd like to see all the owners of these banks and corporations have their business taken away from them if the government bails them out.
So rather than a bailout, its more like a buyout.
then the government will have to run things, or appoint new people to do so.
With FULL transparency in spending of course.

[Quiet Reflections]

i say no bailout and just lets whatever happens happen

[BeardedOne]

I haven't seen the final draft of the plan they wrote in a caffeine induced stupor early this morning, but I'm hoping more of it is along the lines of the credit insurance that was mentioned late last night. The concept of that being that rather than make the money a handout it is held in reserve while the program pushes the institutions to work with their debtors and get their house in order. If that fails, then the rescue. Sort of an FDIC for the underwriters of mortgage notes.

Are the Asian markets open yet?


PS: $2300 is halfway to my own 'bailout', so you know I'd agree to that.

[Realgirls4me]

Don't look now, but this is Socialism with a capital "S", folks. Let's see, Wall Street, The Big Three automakers ... When push come to shove, and corporations or citizens find themselves in the hole(crisis), who do we instinctively turn to? Ta-da-a-a-ah. Our government.

... It will be interesting to see how the Neocon (Limbaugh, O'Reilly, Hannity, etc) bashers of government and their lemmings spin this in the weeks to come. ... I wonder if it has ever occurred to some Conservative follower living week to week in a trailer without healthcare and barely making a little over minimum wage, that Limbaugh with his 38 million a year, or Hannity with his 25 million a year, aren't going to bail them out should a tornado strike or their bank collapses. I wonder how many faithful Right-wing listeners of Conservative hate radio from the Galveston area are awaiting relief checks from either Limbaugh, Hannity, or O'Reilly?

[flabbybody]

i say no bailout and just lets whatever happens happen

that's not something that you'd want to live with

no one wants to accept helping the rich pricks who run the banks and investment firms
but if bailing out Wall St means we don't lose everything we've saved and invested over the years, then it has to be done

[barefootjoe69]

I understand how important it is for the sake of the economy that these lending institutions remain in business.

But the people at the top need to get the boot! and the general public needs to become better informed about predatory lending.

I know this may sound terrible, but i'd like to see all the owners of these banks and corporations have their business taken away from them if the government bails them out.
So rather than a bailout, its more like a buyout.
then the government will have to run things, or appoint new people to do so.
With FULL transparency in spending of course.

I'm with you on this!!!

[Castor_Troy05]

I'm just curious as to how the American government is gonna pull $700 billion outta their asses. aint you guys pretty much broke ?

[Solitary Brother]

Remember....WALL STREET was INSTRUMENTAL in shipping our jobs overseas......THEY DID THAT.
I say dont give this greedy grifters a fucking penny.
They have shitted on us for decades.

Remember the FED CHIEF and head of the TREASURY are both from WALL STREET.

[DJ_Asia]

This bailout is pure horseshit! what the government is doing is taking 700 billion of your dollars(thats the original estimate...will end up well over 2 trillion when its all said and done) and giving it to lending institutions so they can lend it back to you...with interest of course.they are relieved of bad mortgages,yet yall still gotta pay those mortgages...so they win all around,and tax payers get fucked again.

The total cost of bad home mortgages in america is less than 70 billion dollars...why not pay those off?

Or give 700 billion to every american over the age of 18...thaty comes out to roughly 4 million each...ya dont think that will get the economy rolling again...shit can you imagine how D&G and Armani stocks would rise from this site alone?

and finally as I posted in another thread if you started paying one dollar per second,it will take over 31,000 years to pay 1 trillion dollars off..

[hondarobot]

i say no bailout and just lets whatever happens happen

I agree. Too bad Wall Street, you fucked up again. How many suckers do you think are going to keep buying this game?

No bailout. Let them drown. The Lower and Middle class will get through this and learn from our past mistakes by not giving these clowns money they didn't earn.

We can adapt, they can't. Fuck 'em.

[Paladin]

I understand how important it is for the sake of the economy that these lending institutions remain in business.

But the people at the top need to get the boot! and the general public needs to become better informed about predatory lending.

I know this may sound terrible, but i'd like to see all the owners of these banks and corporations have their business taken away from them if the government bails them out.
So rather than a bailout, its more like a buyout.
then the government will have to run things, or appoint new people to do so.
With FULL transparency in spending of course.

My plan;

hand out the $$$, BUT:

The top ten in each company getting a bailout should end up in jail, and that starts with Bear Stearns last spring!

[NYBURBS]

Well to everyone that says no bailout, come election day in just over a month I hope you remember what was done here. I'll fucking vote to elect the local dog catcher to congress just to register my displeasure with this (he can not possibly do any worse than what we have there already). Please remember to vote to remove the incumbent should they vote for this and preferably vote for a 3rd party candidate.

[Paladin]

This bailout is pure horseshit! what the government is doing is taking 700 billion of your dollars(thats the original estimate...will end up well over 2 trillion when its all said and done) and giving it to lending institutions so they can lend it back to you...with interest of course.they are relieved of bad mortgages,yet yall still gotta pay those mortgages...so they win all around,and tax payers get fucked again.

The total cost of bad home mortgages in america is less than 70 billion dollars...why not pay those off?

Or give 700 billion to every american over the age of 18...thaty comes out to roughly 4 million each...ya dont think that will get the economy rolling again...shit can you imagine how D&G and Armani stocks would rise from this site alone?

and finally as I posted in another thread if you started paying one dollar per second,it will take over 31,000 years to pay 1 trillion dollars off..

Given an estimate of 200 million adults (18+) makes it only 3500 per person. Your figure of 4 mil for 200 million people is 800 TRILLION. Learn some simple ordinal math people!

And that jacka$$ with the baby face avatar thinks he's so smart, he didnt pick up on this error.

I'm not overly fond of this (bailout) but don't want to see my investments vaporize while I'm getting shot at next year in the desert, which by the way had proven to be a colassal waste of nearly a TRILLION dollars so far wit no return in any way, shape or form.

[MrF]

Supposedly, the term "bailout" does not apply, because the Treasury will buy mortgage-backed securities and other "illiquid assets" at a yet-to-be-determined price, then sell them a few years later when the economy recovers, and there's a chance the Treasury will make a profit. I guess nobody knows the true value of these securities (part of the problem at present); however, the value can't be zero because there is land and a house at the basis of them, am I right ?

Well, I guess a cynical conspiracy theorist would say it's a last-ditch effort by the outgoing administration to funnel govt money to fich fat cats. And a Panglossian would assume we'll get all our money back in the end, with interest, while in the meantime saving the economy. Personally, I cannot tell, but I guess the reality is somewhere in between: the recession will be less deep than otherwise, and we'll lose part (25% ?) of the 700B but recover the bulk of it. That's my guess.

[NYBURBS]

This bailout is pure horseshit! what the government is doing is taking 700 billion of your dollars(thats the original estimate...will end up well over 2 trillion when its all said and done) and giving it to lending institutions so they can lend it back to you...with interest of course.they are relieved of bad mortgages,yet yall still gotta pay those mortgages...so they win all around,and tax payers get fucked again.

The total cost of bad home mortgages in america is less than 70 billion dollars...why not pay those off?

Or give 700 billion to every american over the age of 18...thaty comes out to roughly 4 million each...ya dont think that will get the economy rolling again...shit can you imagine how D&G and Armani stocks would rise from this site alone?

and finally as I posted in another thread if you started paying one dollar per second,it will take over 31,000 years to pay 1 trillion dollars off..

Given an estimate of 200 million adults (18+) makes it only 3500 per person. Your figure of 4 mil for 200 million people is 800 TRILLION. Learn some simple ordinal math people!

And that jacka$$ with the baby face avatar thinks he's so smart, he didnt pick up on this error.

I'm not overly fond of this (bailout) but don't want to see my investments vaporize while I'm getting shot at next year in the desert, which by the way had proven to be a colassal waste of nearly a TRILLION dollars so far wit no return in any way, shape or form.

First of all if you signed up at this time then you're a fucking retard, and this is coming from someone with USMC tattooed on his arm. Second of all, I don't read everyone's posts; however, yours I am particularly fond of correcting because you're such an ignorant asshole to begin with.

[Paladin]

Supposedly, the term "bailout" does not apply, because the Treasury will buy mortgage-backed securities and other "illiquid assets" at a yet-to-be-determined price, then sell them a few years later when the economy recovers, and there's a chance the Treasury will make a profit. I guess nobody knows the true value of these securities (part of the problem at present); however, the value can't be zero because there is land and a house at the basis of them, am I right ?

Well, I guess a cynical conspiracy theorist would say it's a last-ditch effort by the outgoing administration to funnel govt money to fich fat cats. And a Panglossian would assume we'll get all our money back in the end, with interest, while in the meantime saving the economy. Personally, I cannot tell, but I guess the reality is somewhere in between: the recession will be less deep than otherwise, and we'll lose part (25% ?) of the 700B but recover the bulk of it. That's my guess.

You are more or less correct on the first part, and i wouldn't put it past the bushies to be behind a motivation similar to the intro of the second part. It's anybody's guess as how it will end up.

At least the house has managed to get some of the more ridiclous provisions of the original version stripped out. I can't stand pelosibitch but she did go the right way on this one. Now if the stupid bitch can get her head out of her ass and stop trying to block expanded drilling we can cut some of the speculation out of oil futures. that and a few new atomizers (nuclear power plants) will go a long way.

[Paladin]

This bailout is pure horseshit! what the government is doing is taking 700 billion of your dollars(thats the original estimate...will end up well over 2 trillion when its all said and done) and giving it to lending institutions so they can lend it back to you...with interest of course.they are relieved of bad mortgages,yet yall still gotta pay those mortgages...so they win all around,and tax payers get fucked again.

The total cost of bad home mortgages in america is less than 70 billion dollars...why not pay those off?

Or give 700 billion to every american over the age of 18...thaty comes out to roughly 4 million each...ya dont think that will get the economy rolling again...shit can you imagine how D&G and Armani stocks would rise from this site alone?

and finally as I posted in another thread if you started paying one dollar per second,it will take over 31,000 years to pay 1 trillion dollars off..

Given an estimate of 200 million adults (18+) makes it only 3500 per person. Your figure of 4 mil for 200 million people is 800 TRILLION. Learn some simple ordinal math people!

And that jacka$$ with the baby face avatar thinks he's so smart, he didnt pick up on this error.

I'm not overly fond of this (bailout) but don't want to see my investments vaporize while I'm getting shot at next year in the desert, which by the way had proven to be a colassal waste of nearly a TRILLION dollars so far wit no return in any way, shape or form.

First of all if you signed up at this time then you're a fucking retard, and this is coming from someone with USMC tattooed on his arm. Second of all, I don't read everyone's posts; however, yours I am particularly fond of correcting because you're such an ignorant asshole to begin with.

I'm definately considering the source so i'll try to explain this slowly:

The post with the massive several orders of magnitude error was posted at 10:33, you posted at 11:05 and missed it completely. So who's the retard ????

Calm down, no wonder they call it uncle sams misguided (in your case moronic) children)!

Besides, i can't help it if you were silly enough to tattoo your arm. I'm sure it has returned it's investment many times over.

I didn't "sign up at this time" I'm a combat decorated verteran of this mess and am a serving senior person who doesn't happen to like the direction it's taken over the last 4 years, but I can't retire due to stop loss. So I'll do my excellent job as i always do when called upon. Beside's that the pay is pretty good at my grade.

[NYBURBS]

This bailout is pure horseshit! what the government is doing is taking 700 billion of your dollars(thats the original estimate...will end up well over 2 trillion when its all said and done) and giving it to lending institutions so they can lend it back to you...with interest of course.they are relieved of bad mortgages,yet yall still gotta pay those mortgages...so they win all around,and tax payers get fucked again.

The total cost of bad home mortgages in america is less than 70 billion dollars...why not pay those off?

Or give 700 billion to every american over the age of 18...thaty comes out to roughly 4 million each...ya dont think that will get the economy rolling again...shit can you imagine how D&G and Armani stocks would rise from this site alone?

and finally as I posted in another thread if you started paying one dollar per second,it will take over 31,000 years to pay 1 trillion dollars off..

Given an estimate of 200 million adults (18+) makes it only 3500 per person. Your figure of 4 mil for 200 million people is 800 TRILLION. Learn some simple ordinal math people!

And that jacka$$ with the baby face avatar thinks he's so smart, he didnt pick up on this error.

I'm not overly fond of this (bailout) but don't want to see my investments vaporize while I'm getting shot at next year in the desert, which by the way had proven to be a colassal waste of nearly a TRILLION dollars so far wit no return in any way, shape or form.

First of all if you signed up at this time then you're a fucking retard, and this is coming from someone with USMC tattooed on his arm. Second of all, I don't read everyone's posts; however, yours I am particularly fond of correcting because you're such an ignorant asshole to begin with.

I'm definately considering the source so i'll try to explain this slowly:

The post with the massive several orders of magnitude error was posted at 10:33, you posted at 11:05 and missed it completely. So who's the retard ????

Calm down, no wonder they call it uncle sams misguided (in your case moronic) children)!

Besides, i can't help it if you were silly enough to tattoo your arm. I'm sure it has returned it's investment many times over.

I didn't "sign up at this time" I'm a combat decorated verteran of this mess and am a serving senior person who doesn't happen to like the direction it's taken over the last 4 years, but I can't retire due to stop loss. So I'll do my excellent job as i always do when called upon. Beside's that the pay is pretty good at my grade.

Well, I saw that hand writing on the walls in the 1990's when I was in. The UN "mandated" peace keeping operations, etc, etc, etc. Luckily for me I got out just before 9/11. If you've already been to Iraq then you should know better than to stay in and stop loss hasn't been extended to last years yet, so if you're that senior and still in than you're there for the pension. I don't wish you ill but I think it's an poor choice unless you're in a really cushy job.

In regard to my tattoo I have no regrets, it is a sign of what I am capable of and the Marines I served with are among the best human beings I have ever had the pleasure of knowing. I simply have no desire to fight overseas wars that have nothing to do with the preservation of our constitution and society.

As for what time he posted, that has relevance to my post how? Did I quote him? Did I respond directly to him? Oh no I didn't, I simply posted in the same 4 page thread lol.

[DJ_Asia]

This bailout is pure horseshit! what the government is doing is taking 700 billion of your dollars(thats the original estimate...will end up well over 2 trillion when its all said and done) and giving it to lending institutions so they can lend it back to you...with interest of course.they are relieved of bad mortgages,yet yall still gotta pay those mortgages...so they win all around,and tax payers get fucked again.

The total cost of bad home mortgages in america is less than 70 billion dollars...why not pay those off?

Or give 700 billion to every american over the age of 18...thaty comes out to roughly 4 million each...ya dont think that will get the economy rolling again...shit can you imagine how D&G and Armani stocks would rise from this site alone?

and finally as I posted in another thread if you started paying one dollar per second,it will take over 31,000 years to pay 1 trillion dollars off..

Given an estimate of 200 million adults (18+) makes it only 3500 per person. Your figure of 4 mil for 200 million people is 800 TRILLION. Learn some simple ordinal math people!

.

http://deathby1000papercuts.com/2008/09/700-billion-bailout-give-each-adult-american-35-million/

[Paladin]

I usually read the posts, and that number just jumped out at me as just way too high. This country - and the wholeworld for that matter- suffers from numerical illeteracy, my wife included. they can't look at two number and see a relationship - either corrector incorrect.

DJ, just because some dumass web site has a page with a (wrong) mathematical calculation, doesn't mean the numbers or math is correct.

Put the numbers in your spreadsheet and see for yourself.

Lets take this one step at a time people.

if you give $35,000,000.00 to 10 people you have:
$350,000,000.00 to 100 people:
$3,500,000,000.00 to 1,000 people:
$35,000,000,000.00 to 10,000 people
$350,000,000,000.00 to 100,000 people:
$3,500,000,000,000.00 to 1,000,000 people:
$35,000,000,000,000.00 to 10,000,000 people:
$350,000,000,000,000.00 to 100,000,000 peeps:
$3,500,000,000,000,000.00 to 200,000,000 peeps
$7,000,000,000,000,000.00.

That's 7,000 TRILLION dollars - (7 quadrillion?) a little more than 700 billion if i do say so myself.

The lack of ability to see this at a glance reminds me of dr evil and his money requests or even the old abbot and costello number mind games that abbot would play on costello,

wake up people :roll:

[DJ_Asia]

I usually read the posts, and that number just jumped out at me as just way too high. This country - and the wholeworld for that matter- suffers from numerical illeteracy, my wife included. they can't look at two number and see a relationship - either corrector incorrect.

DJ, just because some dumass web site has a page with a (wrong) mathematical calculation, doesn't mean the numbers or math is correct.

Put the numbers in your spreadsheet and see for yourself.

Lets take this one step at a time people.

if you give $35,000,000.00 to 10 people you have:
$350,000,000.00 to 100 people:
$3,500,000,000.00 to 1,000 people:
$35,000,000,000.00 to 10,000 people
$350,000,000,000.00 to 100,000 people:
$3,500,000,000,000.00 to 1,000,000 people:
$35,000,000,000,000.00 to 10,000,000 people:
$350,000,000,000,000.00 to 100,000,000 peeps:
$3,500,000,000,000,000.00 to 200,000,000 peeps
$7,000,000,000,000,000.00.

That's 7,000 TRILLION dollars - (7 quadrillion?) a little more than 700 billion if i do say so myself.

The lack of ability to see this at a glance reminds me of dr evil and his money requests or even the old abbot and costello number mind games that abbot would play on costello,

wake up people :roll:

Did the math...you're correct ...I stand corrected....
Regardless of the amount however,this 'plan' still sucks ass....

[Nowhere]

Look, what people here don't realize is that our economy is like a house of cards. Everything borrows from everything and those things borrow from other place, and those places cross-invest in other ones. It is completely irresponsible, wrong and terrible, but it is what it is.

So, everything affects everything. EVERYTHING. That means this bailout is essentially, something like this keeps the house of cards from completely (or mainly) collapsing.

Yes, the largest chunk of this structure is the rich. Hell, the upper 1% own something like 75% of the country's wealth. But, having this collapse will take EVERYONE down with it, and the uber-wealthy will still probably have enough remaining to retain a relatively cushy life, with the rest of us going to soup kitchens, if we're lucky.

Not that I'm entirely supporting it, since this may not work at all, but I see it as a gamble, we have to take.

On a side note, this does make me think that new criminal charges have to be created from those who orders the big companies to invest in crap, which is basically holding the entire country's life by a string. Even in the 80s, junk bonds didn't come remotely close to this.

But, believe me, saying this money is only going to the fat cats is radically oversimplifying this. My only question is whether it will work or the entire thing will still collapse, with this money simply becoming 'golden parachutes' for the fat cats I'm talking about.

And, I hate to be cynical, but I really think that is how it will end up being. But, we've still got to take the gamble, since it's the only hope of a chance we've got. :?

[NYBURBS]

http://www.youtube.com/watch?v=PhB_0yeHm8U

[Paladin]

I'm not really for this plan, but it can't be worse than losing $1,000 per week in my investments

[Paladin]

Now the fuckin house republicans shit-canned the whole thing. Let me see how much i lost today :twisted:

Damn site won't update until tomorrow :x

[Solitary Brother]

I hate to burst anyones bubble here but Obama is a big time globalization fan boy and a fan of the way WALL STREET thinks.
So dont think its just the republicans who are at fault.....in fact.........
The republicans are the ones who are more correct about this than the democrats.
This bailout will not solve the problem and just helps a few wall street firms....THATS ALL!
You always here republicans talk about "socialism" and the"welfare state"....well here it is.
Corporate welfare at its finest!

[Paladin]

I hate to burst anyones bubble here but Obama is a big time globalization fan boy and a fan of the way WALL STREET thinks.
So dont think its just the republicans who are at fault.....in fact.........
The republicans are the ones who are more correct about this than the democrats.
This bailout will not solve the problem and just helps a few wall street firms....THATS ALL!
You always here republicans talk about "socialism" and the"welfare state"....well here it is.
Corporate welfare at its finest!

perhaps, i'm not going to get in to it right now.

but if my investments can get back up to a reaasonable level i can ditch them put it into CDs and at least not lose more money

Plus i can get 10% guaranteed return next year while i'm in the sandbox!