Poll For Reward

Now is not the time to determine the blame. This is the time to unite the Congress of the United States and repair the damage. Hind site is always 20/20 however bringing the damage to the light and working out the solution is what is called for now, later we can work on ensuring that this doesn’t repeat itself!

I believe it is clear that the Democrates are responsible for the condition our country is in because before they had control nothing could happen for them blocking it. Now still nothing can get done. It is time for them to go, go, go. Leave and go back to doing whatever it was they were doing before.

All of the politicians are to blame for this mess especially Ms. Pelosi who showed her true colors with the partisan remarks that she made prior to the vote. The politicians don’t cooperate with each other or work together to accomplish what is good for the country and we, as citizens of the United States, are tired of their arguing, fussing and not accomplishing what they have been elected to do. I propose that we pass a
Bill that would ship all of them back to where they came from.

It is unreasonable to expect a Congress that has done nothing for 2 years and has a 17.8% approval rating to deal with the bail out issue. They don’t have a clue. Let the bankers and the market work it out. The Government needs to get out of the markets way and let it work.

The blame should be placed on the CEOs who were running these businesses and corporations. If a person who is in charge cannot keep up with the financial area of the business, then why is this person in charge of the leadership of the corporation or business? As a taxpayer, I am tired of bailing out the rich. NO ONE is bailing me out of my mortgage from Country Wide–they gave me a loan on a house that was not worth the amount their appraiser placed on the home. NO ONE is bailing me out because I cannot afford quality healthcare. NO ONE is bailing out the victims of Huricane Katrina. NO ONE IS HELPING THE AVERAGE TAXPAYER OR THE POOR. I am tired of making the rich richer.

Let the banks and markets work it out. More Government interference has always failed to improve any situation when dealing with its own citizens.
Blame is already being assigned by the Democrats. the bill currently presented is just a means to further their political ambitions while continuing to rob the american people. Democrats have already had oversite and control of the congress and finance committee for the last 4 years as well as undermining our President and country at every turn… Who wants to continue overseeing this bailout? Democrats…
Rebulicans have a lesser responsibility lacking the internal fortitude to stand up for what is right; keeping silent instead of speaking out about mismanagement by the federal government. They and the President have kept silent in the name of being non-partisan.

NO to “Government Bailout”

Years of bad decisions and stupid mistakes have created an economic nightmare in this country, but $700 billion in new debt is not the answer. As a tax-paying American citizen, I will not support any congressperson who votes to implement such a policy. Instead, I submit the following three steps:

Common Sense Plan.

I. INSURANCE

A. Insure the subprime bonds/mortgages with an underlying FHA-type insurance. Government-insured and backed loans would have an instant market all over the world, creating immediate and needed liquidity.

B. In order for a company to accept the government-backed insurance, they must do two things:

1. Rewrite any mortgage that is more than three months delinquent to a 6% fixed-rate mortgage.
a. Roll all back payments with no late fees or legal costs into the balance. This brings homeowners current and allows them a chance to keep their homes.
b. Cancel all prepayment penalties to encourage refinancing or the sale of the property to pay off the bad loan. In the event of foreclosure or short sale, the borrower will not be held liable for any deficit balance. FHA does this now, and that encourages mortgage companies to go the extra mile while
working with the borrower—again limiting foreclosures and ruined lives.

2. Cancel ALL golden parachutes of EXISTING and FUTURE CEOs and executive team members as long as the company holds these government-insured bonds/mortgages. This keeps underperforming executives from being paid when they don’t do their jobs.

C. This backstop will cost less than $50 billion—a small fraction of the current proposal.

II. MARK TO MARKET

A. Remove mark to market accounting rules for two years on only subprime Tier III bonds/mortgages. This keeps companies from being forced to artificially mark down bonds/mortgages below the value of the underlying mortgages and real estate.

B. This move creates patience in the market and has an immediate stabilizing effect on failing and ailing banks—and it costs the taxpayer nothing.

III. CAPITAL GAINS TAX

A. Remove the capital gains tax completely. Investors will flood the real estate and stock market in search of tax-free profits, creating tremendous—and immediate—liquidity in the markets. Again, this costs the taxpayer nothing.

B. This move will be seen as a lightning rod politically because many will say it is helping the rich. The truth is the rich will benefit, but it will be their money that stimulates the economy. This will enable all Americans to have more stable jobs and retirement investments that go up instead of down. This is not a time for envy, and it’s not a time for politics. It’s time for all of us, as Americans, to
stand up, speak out, and fix this mess.

Bankers

I do not blame a particular party. I do blame anyone who has spent a quarter when they only have a dime in their pocket. Some people wanted more than they could afford .It is their fault for not asking financial questions when they borrowed mortage money.If they do not understand then seek out someone who can help to clarify the terms of an agreement before signing the dotted line.
This is similiar to company 401k plans. Alot of employees do not understand where to allocate their savings. It was only until two years before I retired that our company brought in financial planners to educate us. We need to start early to teach our children financial planning, then the schools need to follow through with more education. Congress needs to take a breath and get ecomonic experts to help clarify and resolve this crisis. Do not panic work the problem and resolve it .

You asked for blame? Everyone in Washington, bankers, Wall Street, and lobbyists. Everyone knew what was going on, and did nothing about it. Now we, the people, are expected to pay for the money they have already stolen. Now, Washington expects we, the people, to pay their tab and secure the jobs of the thieves who got us into this to begin with.

You’ve heard the saying about laughing all the way to the bank? If this $700 billion proposal is passed, they will all be laughing while cashing the check. It’s no wonder that Congress’s rating is 15%.l I believe it should be much, much lower.

You say this money is going to help the people of this country, when in reality, our children and grandchildren are going to be stuck with the tab.

The best idea I have heard is from a group of eight, I believe led by Representative Peter Defazeo of Oregon, which proposes using FDIC insurance, as was done in the crisis of the early 80’s.

Anyone considering adding to our already astonishing debt should start looking for a new job now, before they come up for reelection. We, the people, have caught on. As an Independent, I look forward to our having a place on the ticket.

Are you seriously asking this question as if it is a poll to decide who likes Coke over Pepsi? This is absurd!!!

How about setting up a poll that asks whether we should liquidate the assets of JP Morgan Chase, Citigroup, and Bank of America and redistribute them among the entirety of the American population?

How about setting up a poll that asks whether people wish to be IGNORANT COMPLACENT NON-THINKERS or INFORMED PATRIOTIC REVOLUTIONARIES?

Since I’m sure YOU fall under the IGNORANT COMPLACENT NON-THINKERS category, grab some popcorn, and watch this:

Unfortunately, this site will not let me post the video I wanted to embed.

So, it will be up to anyone reading this to take the time and go to google, and search for America: Freedom to Fascism.

Also, if it interests you, seek http://www.zeitgeistmovie.com to see a free documentary on the atrocity that is our American Government and their systems of control.

There are plenty more documentaries I could list but given the current topic, these in my opinion, are some of the most prudent and influential.

This Congress acts like little kids. If they were our kids they would be spanked and sent to bed without Supper. I think this Congress and Whie House is the worst I have seen in my 82 years and let’s hope it is not repeated next year. They succeeded in doing everything wrong. I for clean up politics “Vote out the incumbent” till we get it right so if you are elected you have one term and out you go. This may change the way they campaign and other things.

When and why won’t you greedy rich politicians face the music and stop making empty promises? Stealing from my children and grandchildrens futures so that you can still have your power and our money isn’t going to work forever. I will not vote for either Republican or Democrat ever again. We need to let wrong fail and not be rewarded.
How could you have voted yes for the bailout?

I am with Scott and BETTY!!!!Everyone in Washington,Bankers, Wall Street and Lobbyist, Everyone Kenw..I feel we the people need to take back our Money,States,Counties. Vote for what you feel is the Best, If there is no Best running THEN Sorry!! No VOTE, NO ONE IN, OFFICE EMPTY UNTIL CANIDIATE comes along,, I am sick and tired of all of the GOVEREMENT messing up THE AMERICAN PUBLIC!!!!!!

I hate to have to say this but I think the American people are to blame because we let this happen because no one takes an interest or holds their elected officials accountable. The elected officials who received money from these businesses Democrats and Republicans alike will never be held accountable.

I don’t agree with the 700 Billion Dollar Bail out.
“Why Can we find another way” We have so many smart people in our country that we try the easy way out by throwing money to the problem….
Can the U.S.A. do a massive recall like the vehicle recall? But not with Car but with sub-prime loans and re-finance all those bad mortgages at a lower rate no cost to owners and extend the payment term over more years.

I am afraid that the corporation that we are trying to bail out is going to manipulate the system and take our money anyway! Hire lobby groups with that money to create other bills to there benefit and that money will go back to our politician. Every politician will gain and big corporation but main stream will not see the great benefits.

Why not start with main street 1st.

These companies are getting bigger by buying trouble companies and they will get so big that they will get as powerful as AIG, which would affect the world market.

By the way, I am a small business owner, yes maybe this bail out will help me, but is not just about me, it’s about all American and what is the best solution for ALL AMERICANS! Not just the powerful Americans and Wall Street!

Go after the Loan Officers and Underwriters whom approved the “Stated Income Only” and “B Paper” loans; made millions in points; to be later sold to unsuspecting institutions, only to default in short order.

Tim

vote no now …..then try the Dave Ramsey deal

Now is not the time to Blame???!!!! Give me a break???!!! That is the same thinking that got this Nation into trouble in the first place….. Sounds like another credit or check-kite scam……

It’s not funny that Bush, the Candidates, and the Congress have all refused to address the subject of Illegal Immagration to the tune of Millions!!!!!When was the last news you’ve heard of this subject….. ROUND EM UP and SHIP EM OUT….NOW

Blame? Clearly, the Democrats alone had enough votes to pass this catastrophe without a single Republican vote, if they were solidly behind it. Personally, I applaud the ones who had enough sense to vote against it. Blame? Well, let’s start with the borrowers who choose to take on more financial liability than they knew in their heart of hearts they could afford. The lenders didn’t ‘trick’ them. The most critical information in a mortgage document is spelled out in the first half of the first page in bold print and everyone who takes out a mortage is given amortization statement and shown the bottom line of what that mortage will cost them over the life of the loan. Blame? How about the builders who built house after house when sales were not keeping pace with construction, simply because they could get the money to keep building. Blame? How about ACORN, who uses strong-arm tactics to force lending institutions into writing bad loans. Blame? How about Barney Frank, Chris Dodd, Nancy Pelosi, and others in Congress who either flat-out lied, or else stuck their heads in the sand and didn’t want to see that IndyMac, Fannie, Freddie, AIG, and others were in distress? How about Barack Obama (who has intimate ties to ACORN), Barney Frank, Chris Dodd, and others who benefited from looking the other way. Blame? How about Paulsen and Bernanke who didn’t scream early enough or loudly enough. Blame? How about the Democrat-controlled Congress, which has done virtually nothing for the past two years, has the lowest approval rating in history, and has caused the economic condition of the country to steadily decline ever since they have been in office. They want to blame the economy on the war, but historically, the mechanics of war actually stimulate the economy. They are a bunch of idiots. Who is NOT to blame? George Bush. Newsflash: He doesn’t control the weather, either.

Anyone who actually believes the line “we will resolve the blame later” is out of touch with this government…..there is no later just gimme gimme.

I not sure if anyone has taken note of the lack of “Democracy” this country was founded on For the people, By the people..and I keep hearing this is in our best interest. NOT !!
We as a country have allowed a DICTATORSHIP to evolve in the last 8 years.
Insanity is Insanity, how do you justify a 700 Billion Hole and then offer a solution that spends 850 Billion (this is just for starter) telling me you are looking at what’s best for me !!
There is more to this than meets the eye, we need to allow the economy to take the natural course on “SELF CORRECTION”, I don’t know any of the 5.6 million out of work who are looking to get credit or buy a car, do you? so the credit crap is credit crap.

Here is something I came across, CDs typically are “Certificates of Deposit” the article states CDs “Credit Default Swaps” in 2001 were 919 Billion and have double each year
today the known total is 55 Trillion, this number exceeds the value of the NYSE 51.8 Trillion. These Credit Default Swaps, is another brainchild of Wallstreet, I have yet to locate the creator. Based on the date it appears we can credit the current administration…….Insanity I would like to see how many bad checks and past due accounts you can peddle and how much you can come up with. We have been banking on bad debt for 8 years, these are items that customarily are written off and removed from a Companies financial.
We the People have been treated like unwanted stepchildren, MARCH ON WASHINGTON

http://money.cnn.com/2008/09/30/magazines/fortune/varchaver_derivatives_short.fortune/index.htm?postversion=2008093012
Fortune Magazine 9/30/08 **check it out

Senator John McCain has urged the Bush administration to bypass Congress and spend a whopping one trillion dollars on bad mortgages (debt from 2001 forward could be anything from soup to nuts.)
In three interviews on Tuesday, the Republican presidential nominee called on the US Treasury Department to address the economic crisis independently and without congressional approval.
****************

. what the washinton talking heads aren’t telling you about this “bailout” is.. and what Warren Buffett and Hank Paulson know ..all of these bad loans (bad debt inception 2001 to current)have been pushed so far down the line, leveraged, leveraged and leveraged so more..ultimately they’ve found themselves being carried by vehicles know as CDS’s..Credit Default Swaps.. the spreads on those things have widened steadily as each bank has fallen..the urgency to get that bailout down is to keep the spreads from reaching the point where these swaps have to be redeemed (By who?)..and that number would be 55 Trillion dollars.. main issue is illliquidity. If banks can sell this debt to the government,(typically you sell assets) it gives them cash to lend. If the federal government holds on to this debt, and gets some equity in the process, eventually they may turn out to be a fine investment once property values rise (hugh assumption these are not all mortgages and this practice has been in place since 2001)- which they will eventually (what G have you seen ?). The danger is that without credit,(got us into this mess to begin with) we might slip into a recession (or worse) (what on earth could be worse!) AMERICA SAY No !!
The TITANIC is sailing again, get your Free Ticket

It’s a dumb ??? Who is at fault? All of us who live in the USA for not requiring the proper checks and balances that a free market needs to survive. Greed drives this. Greed is a good thing. Unrestricted greed is a bad thing. Rules need followed and the rules were not there this time

The governments involvement let the CEOs act irresponsible. So who is to blame, we are because we keep electing the same boobs into office that started this mess. Now these same boobs want to fix it? I don’t think so. Less government means less hands on our money.

2nd time considered ( do not pass this bill) (10/03/08)

I say ney to the Government Bailout!!!!!!!
It is time that “We, The People”, take charge of the mess that our Great Leaders, Wall Street, and the Mortgage Industry, have gotten us into, by voicing our opinion. Not only are they at fault, but we too, have to share alot of the blame “yes we the people, for allowing ourselves to think that we can afford more than what really can, for trying to keep up with the Joneses” intead of living within our means. We need tell them that if this $700 billion burden passes we will not vote for them. It makes me sick to my stomach to even think that us and our children, and our childrens’ children will have to deal with this encumbrance for years to come. There is a solution instead of “Congresses’ quick fix, long term affliction”. Instead of me duplicating somebody elses comments let me refer back to Frances Overbeck , October 1, 2008 reference
This not the end of World, what we need is leader who will lead, and make rational decisions and make them out of fear. The have always bounced back.
Dear Congressmen and Leaders of Our Geat Nation,
think about us, “We The People”, thank-you and GOD BLESS, GODSPEED!!!

Correction:
This not the end of the World, what we need is learders who will lead and not make decisions out of fear