700 Billion Dollar Bailout Bill Passes
Watching C-SPAN drove me crazy today as I listened to the House Representatives debate back and forth, over why or why not the bailout bill should pass. The majority of House members opposed the bill.
Rep. Ron Paul of Texas, says he's in opposition of the bill and stated that he "didn't understand the bill" after reading it.
How can the House pass a bill without all members of it comprehending the content?
Rep. Ron Paul of Texas, says he's in opposition of the bill and stated that he "didn't understand the bill" after reading it.
How can the House pass a bill without all members of it comprehending the content?
Representatives of the House declared that they weren't sure if the bill would help the economic crisis, stating "We don't know how Paulson, came to the figure of 700 billion dollars."
Congressman Steve LaTourette displayed a chart and showed the public, exactly what government chose to spend American taxpayer dollars on.
The chart shows (hit CtrlF and type key words to find facts):
1. 2 million went to wooden arrows for kids; wow.
2. 81 million went to Hollywood; huh?
3.100 million went to Nascar; not a fan, but much respect to Danica!
4. 192 million went to rum; I guess that's important?
Americans aren't given a bailout should they choose to not pay their bills -- why should the Bush administration get a pass?
If the president hasn't a clue of how to balance the budget why entrust him with 700 billion more of taxpayer dollars, wherein as a result taxpayers become innocent victims?
House Speaker Nancy Pelosi stated that after the bill is signed she'll further investigate how the crisis came about. But shouldn't the investigation already be underway, before we make the mistake of losing so much money?
2008 LA
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ReplyDeleteRecently an insurance company nearly wind up....
A bank is nearly bankrupt......filing chapter 11 protection.
How it affect you? Did you buy insurance? Did you buy mini note or bonds?
Who fault?
They bailout trouble finance company, but they will not bail out your credit card bills……You got no choice, and no point pointing finger but you can prevent similar things from happen again……
The top management of the Public listed company ( belong to "public" ) salary should be tied a portion of it to the shares price ( IPO or ave 5 years ).... so when the shares price drop, it don't just penalise the investors, but those who don't take care of the company.....If this rule is pass on, without any need of further regulation, all industries ( as long as it is public listed ) will be self regulated......because the top management will be concern about their own pay check……
Meanwhile if company was being acquired, there will be a great movement in terms of staff……eventually staff suffer also.
Some might feel that it sound stupid….. as there is long and Short position…but in reality there is still many different caliber CEO…..so there is still long and short…..They can ban short selling definitely they can do something about this.......
Are you a partisan?
Sign a petition to your favourite president candidate, congress member, House of representative again and ask for their views to comment on this, and what regulations they are going to raise for implementation.....If you agree on my point, please share with many people as possible.... Finance and Media are the two only industries can shaken politics ( Maybe Hackers can ), please help to highlight also...
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