Bailout agreement reached

Bailout agreement reached

There are 413 comments on the Press-Telegram story from Sep 25, 2008, titled Bailout agreement reached. In it, Press-Telegram reports that:

Warned of a possible financial panic, key Republicans and Democrats reported agreement in principle Thursday on a $700 billion bailout of the financial industry and said they would present it to the Bush ...

Join the discussion below, or Read more at Press-Telegram.

Miss Vee

United States

#23 Sep 25, 2008
On the bailout -- Will the same Financial Leaders be in place to continue to slurp up the money they received when they ran these institutions into the ground? They were allowed to make million dollar salaries because they said they new how to operate these companies, now looks like they didn't. So are we suppose extend more money,let them keep their jobs and give them a raise when their evaluation is soooooo poor?
Juan Pardell

Tracy, CA

#24 Sep 25, 2008
Miss Vee wrote:
On the bailout -- Will the same Financial Leaders be in place to continue to slurp up the money they received when they ran these institutions into the ground? They were allowed to make million dollar salaries because they said they new how to operate these companies, now looks like they didn't. So are we suppose extend more money,let them keep their jobs and give them a raise when their evaluation is soooooo poor?
Well, Bush & Cheney will receive lifetime benefits from the federal government. Yet, they've financially run our country into the ground. They, above anyone else, should be denied any entitlements from anything that is paid for by the taxpayers.
Rico Sarna

Tulsa, OK

#25 Sep 25, 2008
andet1987 wrote:
Obama attended the meeting, blah, blah, blah, no substance at all, was not able to solve the impending recession. Obama is not a presidential material !!
McCain/Palin 2008 :)
It was not Obama's job to solve the crisis. If you recall, Bush is, in theory, the presdient so it is his job. Obama's job is to be one of many congressment to contribute to the discussion. Meanwhile it looked like they had an agreement almost ready to vote on before McCain or Obama ever showed up. Then McCain did a grandstand to show what a hero he was and that threw the entire process into chaos. So now the deal is screwed because McCain gummed it up. Thanks John, how about you unsuspend your campaign so we can get you out of Washington to stop you from screwing up the government.
SWF Conservative

AOL

#26 Sep 25, 2008
Yes, you'll have to pardon McCain for insisting on some oversight of the one person (Paulson) who will get control over that 700b.

Silly man - fiscal responsibility is downright Unamerican.

“Survived one more day!!!”

Since: Jun 08

Denver

#27 Sep 25, 2008
I just read in my local news that the talks just broke down and apparently everyone is back to the drawing table. Let's see what can be hashed out this time.
Wake up FQQLZ

Jerseyville, IL

#28 Sep 25, 2008
Bush and McCain? 700 Billion reasons why not to vote for that Bush wannabe crook.

“EVOLUTION IS EXTINCTION”

Since: Aug 07

MARIETTA, GA

#29 Sep 25, 2008
Bi-racial and proud wrote:
I just read in my local news that the talks just broke down and apparently everyone is back to the drawing table. Let's see what can be hashed out this time.
Hopefully nothing will be 'hashed out'. The sting of failure is a character builder....and it gets the attention of the voters.

Please, voters, no more wealthy Democrats in Congress. I can't afford much more of this.

“It's 420 here.”

Since: Jun 07

cold comfort farm

#30 Sep 25, 2008
Can't wait for spring when all these jerks vote themselves a pay raise.
No more atta boys for any of them!
Juan Pardell

Tracy, CA

#31 Sep 25, 2008
SWF Conservative wrote:
Yes, you'll have to pardon McCain for insisting on some oversight of the one person (Paulson) who will get control over that 700b.
Silly man - fiscal responsibility is downright Unamerican.
Why hasn't Bush fired Paulson?
Lance Winslow

Orinda, CA

#32 Sep 25, 2008
Juan Pardell wrote:
<quoted text>
Why hasn't Bush fired Paulson?
Paulson and Bernanke are just doing what they're told.
SWF Conservative

AOL

#33 Sep 25, 2008
I have not yet heard either candidate place any blame on the home buyers (rich, middle class or poor, black, white, brown or green) who greedily accepted mortgages for 125% of their homes value.

Let me be the first - you are reaping what you have sown. This is your bed and you should have to lie in it - oh wait - no bed, no roof - no where to lie down.
Juan Pardell

Tracy, CA

#34 Sep 25, 2008
SWF Conservative wrote:
I have not yet heard either candidate place any blame on the home buyers (rich, middle class or poor, black, white, brown or green) who greedily accepted mortgages for 125% of their homes value.
Let me be the first - you are reaping what you have sown. This is your bed and you should have to lie in it - oh wait - no bed, no roof - no where to lie down.
Which is why this bailout shouldn't be supported. Taxpayers, are not the safety net for those who assume risk.
ladeeda

Middletown, CT

#36 Sep 25, 2008
andet1987 wrote:
Obama attended the meeting, blah, blah, blah, no substance at all, was not able to solve the impending recession. Obama is not a presidential material !!
McCain/Palin 2008 :)
And what did McCain do?
SWF Conservative

AOL

#37 Sep 25, 2008
Well, Hallelujah. We agree on something.

What has been most interesting to me over the course of the last few days is that while the politicians wring their hands and jet off to Washington, stronger, more fiscally responsible businesses have been buying up these failing companies and, to hear the financial news tell it - reaping profits.

But the politicians in Washington are going to keep trying to convince us all the sky is falling.
kawlija

Moncton, Canada

#38 Sep 25, 2008
Isn't it tremendously ironic, the biggest capitalist nation on earth, has turned communist
kawlija

Moncton, Canada

#40 Sep 25, 2008
Wake up FQQLZ wrote:
Bush and McCain? 700 Billion reasons why not to vote for that Bush wannabe crook.
"You'll never go wrong if you count on the short term memory being very short in the average American voter."
Don't be surprized if it's a close run between he and Obama. Even though McCain and Bush are cut from the same cloth.
Trickle Up

United States

#41 Sep 25, 2008
I say send each American a share of the money (since it is ours anyway) and we will spend it just as well as Wallstreeters will. We will stimulate the economy. Maybe some people can avoid a foreclosure. Maybe some people can pay off a car loan or another bank loan. Maybe some people will invest in the markets. Why trickle it down when we can stimulate it upward and everybody stands to win?
andet1987

United States

#42 Sep 25, 2008
ladeeda wrote:
<quoted text>And what did McCain do?
i was not in the meeting, i did not see the meeting. i was busy posting craps in Topix.:)

McCain/Palin 2008 :)
Woodland

AOL

#43 Sep 25, 2008
This Hillary supporter will now vote for McCain because of this:

Let’s chalk this catastrophe up to Obama’s good judgment? Obama is ready to RUN away, not ready to accept responsibility, and definitely not ready to lead, not now, not ever!! Can we trust Obama with our economic security? NO. Obama tried to push the blame for his bad decision onto John McCain. Obama voted against regulation and McCain sponsored a bill for it.
It’s pretty clear that John McCain can be trusted with our economy and Obama should go hide under a rock!

McCain tried to avert this catasrophe 3 years ago. The democrats said no - including Obama.

SUBJECT: JOHN MCCAIN’S 2005 HOUSING REGULATORY REFORM ACT

Federal Housing Enterprise Regulatory Reform Act of 2005

Bill Summary:
1/26/2005–Introduced. Federal Housing Enterprise Regulatory Reform Act of 2005 - Amends the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 to establish:

(1) in lieu of the Office of Federal Housing Enterprise Oversight of the Department of Housing and Urban Development (HUD), an independent Federal Housing Enterprise Regulatory Agency which shall have authority over the Federal Home Loan Bank Finance Corporation, the Federal Home Loan Banks, the Federal National Mortgage Association (Fannie Mae), and the Federal Home Loan Mortgage Corporation (Freddie Mac); and

(2) the Federal Housing Enterprise Board. Sets forth operating, administrative, and regulatory provisions of the Agency, including provisions respecting:

(1) assessment authority;
(2) authority to limit non-mission-related assets;
(3) minimum and critical capital levels;
(4) risk-based capital test;
(5) capital classifications and undercapitalized enterprises;
(6) enforcement actions and penalties;
(7) golden parachutes; and
(8) reporting. Amends the Federal Home Loan Bank Act to establish the Federal Home Loan Bank Finance Corporation.

Transfers the functions of the Office of Finance of the Federal Home Loan Banks to such Corporation. Excludes the Federal Home Loan Banks from certain securities reporting requirements. Abolishes the Federal Housing Finance Board.

The bill introduced in 2005 — John McCain sponsor.
Get this out to everyone you know and prove:
That Obama is a liar and blaming the republicans for our financial crisis when the record shows that it was the democrats including Obama and Biden, that voted against regulatory reform. They blocked this bill from passing!

Democrat Barney Frank was very vocal speaking out against regulatory reform in 2005/6. Democrats Barney Frank and Chris Dodd chair the banking and finance committees. However, where were they during the buildup to this crisis? They had ample warning from John McCain and Alan Greenspan in 2005/6 and did nothing. They fought against regulatory reform of Freddie and Fannie which lead to the root cause of America’s financial crisis on wallstreet. Their incompetence is obscene!

Now we look to them to solve the problem? With their record, its no wonder they’re stumbling all over themselves to blame the Republicans. Even Bush tried to pass regulatory reform in 2003 and the democrats blocked him.
hammatime

Fairfax, VA

#44 Sep 25, 2008
Nope.

The President,Vice President and the Treasury secretary went to the meeting only for show.

They went to the meeting with the Democrats already planning to do nothing.

They presented another plan so insulting to the American people that they knew the Democrats would never accept it.

These three people,the President,Vice President and Treasury secretary have embarked on actions so injurious to the United States and the world that those actions can only be described as treason.

All three should immediately be arrested and removed from office.

The people who replace them until the election is held can finish the job they seem intent on not getting done.

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