You are right, sadly.

I never took it that you were.   All the best to you!

I proposed this myself, that if the economic bailout were to instead give 'the people' the propensity to pay (off their mortgages, credit card debts and for goods and services) it would create economic growth through increased sales, higher employment and thus increased tax revenue to help better balance the Federal Budget and stimulate the GDP.

But no... that's liberal socialism and not the American way, so yet again the greedy high rollers benefit and the needy still get screwed by a fundamentally flawed principle. OK, it may have been seen by the 'founding fathers' as being right not to include socialist ideals in the US Constitution, but they were different times (opportunity for all was much greater) and they could not have foressen the current financial/political climate, which offers great opportunities to the haves while effectively denying them to the have nots. Yup, things have to change!

No, not really!  Going into the coffers of the banks to do with as they wish IS coming OUT of your pocket... to get some of your own money back to make ends meet/ keep a roof over your head is stimilating the economy, which in turn helps the banks... if they're good enough to rethink and get themselves out of the shit. 

Put another way!  Who would you rather see have the money, the billionaires/multi-millionaire who created this mess, or for yourself to receive a small part of it to keep your head above water/enjoy a slightly better quality of life???  While some may say that they don't need it, and you may be one of those who is more financially secure, I don't know, but there are millions in the US who DO need that helping hand.

Here's one for ya... the Rudd Government here in Oz recently announced that aged and disability pensioners will receive a one off bonus payment of about $1000 - $1200 to assist those most disadvantaged/at the lowest end of the socio-economic scale.  Now while that might seem wrong to some in the US, those people/we are getting back some of our own tax money, and most business/community leaders are applauding the move (and remember, these are tax payers too) as being good for spending and the economy in general.

Things were already bad enough here, what with the high cost of food and petrol (not to mention clothing)... and even when oil prices went down significantly, the price of fuel remained unnecesarily high, and thus food/life's essentials.  So when the US financial crisis hit our shores to decimate the budgets of fixed income pensioners, there was about 5 1/2 - 6 million of them who thanked God that we have a socialist system here in Australia... otherwise many would have NO access to food, medicine or transport... and many of them would also be homeless.

While this concept may seem foreign/alien to many in the US, it's a system that works well in many countries around the World, not just here in Australia.    Is it perfect here?  Certainly not, far from it... and some people still fall through the cracks, but still, we'd rather put our faith in a mistake prone government than corporate entities seeking only to profit at our expense.  And do we like/trust our politicians?  Nope!  But the majority here would place trust in a politician before they trusted a corporate entity that would take their last dollar through jacking up prices to increase profit.  Sure, we need big business, but we don't need it to keep screwing us in the name of greed.

Darn those pesky decimal points!!!

Damn Jafo, it sounded SO good.  And even 425 is probably better than we'll come out with the bailout the way it is now.

Seems like we're going to have a lot of people with a lot of money and no one will be around to take care of them.  I wonder how that will work for them.

It does seem that this is a very slippery slope we are on and the bottom is not in sight at the moment.

All this brought on by a unnatural desire to spend money we didn't have to buy things that we didn't need that more than likey broke before we finished paying for them.  All along we were being told we have a strong economy.  Imagine that. 

I don't believe I learned this in my Accounting and Business courses that I took.  Doesn't sound like a good practice to me. 

A FOIA has been filed by Bloomberg

regarding the Bailout money. Now it also seems the money (section 382) ($145 Billion) is immune from oversight and Treasury doesn't have to tell us where it went! This is just incredible!

I told you Doc that I couldn't make this stuff up.  For all those who wish to lay this solely at Bush's door, please note the comment by good old Barney Frank in the Bloomberg article about not to worry(which is what he said about Fannie and Fredie) and if the Treasury had to take a little hit here and there that's OK.  As if it were their money somehow!  ALL of these folks are out of control.

Didn't ever mean that you would think I was doubting you, Ken. I, when astounded and dumbfounded ask 'are you sure?' or alike expressions.

This is simply beyond any comprehension! Isn't there a way to sic someone with Investigative clout on them...?

Dammit! I demand to know where my money is going!

And now this from Fannie

http://online.wsj.com/article/SB122641622440217445.html?mod=rss_whats_news_us

which includes the following:

"The streamlined effort will target certain loans that are 90 days or more past due, these people said. The program will aim to bring the ratio of mortgage payments for these homeowners to 38% of their income by modifying interest rates and in some cases forgiving portions of principal debt, these people said."

Which says to me that those folks that took 2 jobs and scraped by to pay their mortgage on time are just f*****d!

This does not become fair in my eyes on the basis that it will help protect the value of the other homes in the neighborhood.  They are doing this only for certain regions of the country (sunbelt).

Unbelievably now this!!!!!!

http://www.foxnews.com/story/0,2933,450024,00.html

Just incredible!