There is no way this country should be a sponsor to fiscal irresponsiblity. No way. This is pure unadulterated greed. Nothing short of it.
As soon as Wall Streets smells money they are off to the races. Why does anyone believe things are going to be different?
This is fraud and everyone knows it.
The USA needs to take the $700 billion and rebuild its infrastructure. It needs not be thrown into an international glut of money for the sake of bouyancy to a failed Treasury Department.
There is no job market. There is no growth in the USA. And the only 'bounce' the credit markets are getting is the recuperated debt that the Treasury Secretary is anxious about because Goldman-Sachs is going to be next. There is conflict of interest everywhere in this mess and there is no way there should be a bailout for anyone. The ONLY way those monies should be spent is to put Americans back to work and rebuild our infrastructure. This spending will only lead to more and more of the same and the USA Dollar will be worthless. This is a fraudulent economy and we shouldn't be participating in it.
It is just too bad. I don't believe how completely stupid this is. Bush is pushing for this now because he'll be out of office and when he's gone this type of cronyism will be a thing of the past. From Tom DeLay to Bush, the 'ride to Easy Street' is over. This will only cause more problems with a new administration and we'll be bogged down in Bush Fiscal Irresponsiblity for at least four years.
They need to suffer the consequences.
...The plan currently being debated by (click here) Congress would help put a floor under distressed asset prices, improve transparency of asset valuations and restore liquidity to markets, said S&P.
"If the plan can restore confidence in the accuracy of bank balance sheets, we believe it would allow fixed-income investors to focus again on fundamentals when analyzing these firms (These businesses are crooks. The average investor doesn't know how to make head or tails of the practices of these firms since Paulson and Bush took over. This so called bailout is to attempt to bring about a balance sheet everyone can have confidence in. This is not the way to do things. Bailing out crooks only leads to more of the same. The world is doing fine without them. This isn't the way to improve market performance. It is done through tangible investments that have a future of success. This isn't the way its supposed to be done.) and making investment decisions, not on the very real potential for insolvency precipitated by the current marketplace volatility," analyst Tanya Azarchs said in a statement.
However, the bailout, while providing short-term relief, is not a complete solution to the problems in the financial sector, she said. There is a risk that a rescue of this magnitude may discourage banks from changing their behavior....
The ONLY reason to throw money at the markets is if there was a subtantial failure in the infrastruture. There isn't. Paulson is the biggest song and dance man ever to exist. There is nothing that drastic about saving these firms. They need to do it on their own or get out of the way. This is just completely wrong. They want loans, then maybe, but only maybe. This is Paulson reaching for his precious 14,000. That is all this is and he's been manipulating this mess for two years now.
