bailout deal stalled

iVillage Member
Registered: 08-24-2008
bailout deal stalled
27
Thu, 09-25-2008 - 10:22pm
From the BBC a couple of hours ago:
U.S. bailout deal stalled
Fri Sep 26, 2008 1:56am BST


By Tom Ferraro and Richard Cowan

WASHINGTON (Reuters) - A deal to rescue the faltering U.S. financial system stalled on Thursday amid bickering between Democrats and Republicans and accusations of political posturing by Republican presidential candidate John McCain.


U.S. lawmakers had appeared close to a final agreement on Thursday on a massive $700 billion (377 billion pound) bailout to save the financial system, lifting world stock markets and sending the dollar higher. But things spun off course during an emergency White House meeting between Congressional leaders with U.S. President George W. Bush, according to lawmakers.


In advance of that meeting, which included the two men battling to succeed him, Democrat Barack Obama and McCain, a compromise bipartisan deal seemed imminent.


After the session, Congressional leaders said an agreement could take until the weekend, sending U.S. stock futures down, paring earlier gains.


Republican U.S. Sen. Richard Shelby bluntly told reporters, "I don't believe we have an agreement.


A group of conservative Republican lawmakers proposed an alternative mortgage insurance plan, eschewing the Bush administration's Wall Street bailout just weeks before the November

 

Pages

iVillage Member
Registered: 07-23-2008
Fri, 09-26-2008 - 4:18pm
I totally agree.




~Ashley~




pregnancy week by week







~Ashley~

Lilypie 1st Birthday Ticker

iVillage Member
Registered: 12-21-2006
Fri, 09-26-2008 - 6:53pm

Thank you very much mama4peace. I appreciate you saying that.


Yes, you know what I hear it ALL the time from our family and friends. The old tried and true "Well you HAD to go and have six children."



Photo Sharing and Video Hosting at Photobucket

iVillage Member
Registered: 04-09-2007
Fri, 09-26-2008 - 7:01pm

Your story brought a tear to my eye.

iVillage Member
Registered: 08-30-2004
Fri, 09-26-2008 - 8:56pm

"Your story brought a tear to my eye.

Photobucket

iVillage Member
Registered: 07-11-2006
Fri, 09-26-2008 - 9:06pm

Good to see a little common sense on this board.

;)

Photobucket
siggybarbie
Photobucket
iVillage Member
Registered: 07-11-2006
Fri, 09-26-2008 - 9:10pm
I contend that the Huffington Post is at least as "fair and balanced" FOX!

Photobucket
siggybarbie
Photobucket
iVillage Member
Registered: 08-02-2008
Fri, 09-26-2008 - 9:38pm

This bailout, if it takes place (which is probably a foregone conclusion) is a disaster. It went from Merrill Lynch a month or so ago, to AIG, the automakers are vying for a piece, and suddenly it's gone from a few poor, unfortunate corporations to dozens and dozens of corporations who are not operational.

YES, if these companies go down, it will ripple across to all of us. But don't think the government isn't just temporarily holding back an avalanche that will CRUSH us all once the barrier gives way under the inevitable pressure. YES it's gonna be a long, hard road for us if the economy tanks without a bailout. But make no mistake about it--the economy is going to tank, with or without this bailout, and we will pay for it one way or another. However, I'd rather pay for it WITHOUT also having to shoulder the burden of the $700billion dollar corporate welfare check, too.

The government only gets INTO thing, it never gets OUT. Once these companies are government owned, our entire marketplace will become government run. It will no longer be a free marketplace, and what's to stop these other corporations whose greedy, overpaid, white-collar-criminal executives are doing the same thing, but haven't been caught yet. There's a LINE of corporations who pay out billions of dollars in bonuses when they're bleeding red ink--they'll come out of the woodwork once this bailout goes through. $700billion is not the final figure--it's just THIS bailout. The next one will be quicker, and we will be dulled down and dumbed down and lulled into believing everything is OK unless we stop the government from helping these crooks and demanding that they investigate, prosecute, indict and imprison the crooks--and that includes the crooks in congress who have benefited from the criminal profit-taking that caused much of this mess.

Congress is in bed with these corporations--if you think they're bailing anyone out but themselves, think long and hard about it.

I called my senators and congresspeople today. I spoke to the staffers, and they've NEVER heard so many calls and been so inundated with letters and emails. Americans are scared and angry and are tired of Congress doing whatever they want with tax money we haven't even PAID yet. And when it gets tight, and America races off to Walmart and puts the rest of our money into the pockets of China, we will be bought and paid for--our government will own us, and China will own our government.

God help the USA.

LOVE IT! PRO LIFE Pictures, Images and Photos

siggy1
pregnancy week by week

Pages