Financial bailout agreement reached

Financial bailout agreement reached

There are 262 comments on the Newsday story from Sep 25, 2008, titled Financial bailout agreement reached. In it, Newsday reports that:

Key lawmakers have reported an agreement in principle on a bailout of the financial industry designed to avert a deeper economic crisis.

Join the discussion below, or Read more at Newsday.

no credit for anyone

Westbury, NY

#85 Sep 26, 2008
I know this has nothing to do with this article but in the photograph newsday has of president Bush doesn't the expression on his face look like he just had a accident in his pants?
wordygurdy

Coram, NY

#86 Sep 26, 2008
GOMIK wrote:
<quoted text>A give Bush so much as one more day in office. Are You Insane.
Hold on, let's think about this for a minute. After all, Bush told us just a couple of wees ago that the US economy is healthy. If he said it's so, then it's so. Right?

...right...?
.........right..........
Good Vibrations

Brooklyn, NY

#87 Sep 26, 2008
Does it any get any better than this????? Iraq has a 79 billion SURPLUS and growing. We have a 520 billion dollar DEFICIT and growing. God knows what is now because its growing by the second and here we are on the brink of bankruptcy.
I gotta tell ya Bush and his Marauders are going down to the wire to finally closing the lid on this once great nation. Sad very Sad.

YOU WANT MORE THE SAME VOTE MACAIN and may God Helps us.

PS Every time McCAINS RUNNING MATE PALEN OPENS HER MOUTH WE ARE STARTING TO REALIZE WHAT TROUBLE WE ARE TRULY IN FOR IN THE FUTURE.

Best part of this, HALF THE MORONS IN THIS COUNTRY WANT MORE OF THE SAME.
I guess the pole hasn't gone far enough up their drain pipe for them to scream UNCLE.
May God Have mercy on this once great nation

Since: Aug 08

Fredonia, NY

#88 Sep 26, 2008
I don't believe any of this mushroom cloud cr*p!!!! Let the market correct itself. Let these fat cats go under
Smart Joe

Morganfield, KY

#89 Sep 26, 2008
Thank God we have level headed politicians like John McCain in Washington to help get a deal done. It's sad that Obama doesn't care. He just wants to attack McCain.I guess when you spent your entire Senate Career running for President and have accomplished nothing like obama, then you don't get involved in workong out a deal. Hey Like Obama said, if you need him you can call him. And no one did. McCain on the other hand is needed. the Democrats, Reid and Pelosi said on Wednesday that they would sign no deal if John McCain did not sign on to it. Then when John McCain said he would go to Washington to work things out, the same Democrats were scolded by Obama that he did not want McCain in Washington. So the Dummycrats then said on Thursday that John McCain was not needed, that they had a deal. That was another lie. Now John McCain is working on a deal while Obama is doing what Obama has been doing. he is looking out for himself, and screwing the American People. John McCain is a leader, obama is a zero. Zero Accomplishments, John McCain is action, Obama is all talk. The Choice is clear. ELECT A HERO,NOT A ZERO. VOTE FOR JOHN McCAIN!
Smart Joe

Morganfield, KY

#90 Sep 26, 2008
Lets look at how we got into this mess... Alan Greenspan stood before the House and the Senate in 2005 and said if we did not oversee the actions of Freddy Mac and Fannee May we would be in a finicial crisis down the road. John McCain stood before Congress with Legislation to over see Fannee May and freddy mac in 2005 that would have stopped the abuses. The Vote in the House and Senate was that every Republican voted for the bill to over see these 2 organizations, and every democratic Senator and House member voted against it. This is a fact you can not dispute. The reason the Democrats voted against it was because Freedy Mac and Fannee May gave more money to the Democrats than anyone else. And who were the 2 highest paid senators in Washington. Chriss Dodd who was overseeing the board that watched fannee May and freedy Mac. And Obama. Obama received over 150 thousand dollars to look the other way. The only people who caused this were the Democrats. They had a chance to advoid this in 2005 and they voted against it. Now they want to Blame McCain? LOL what a joke. ELECT A HERO, NOT A ZERO, VOTE FOR JOHN McCAIN!
Jim

Jamaica, NY

#91 Sep 26, 2008
Smart Joe wrote:
Lets look at how we got into this mess... Alan Greenspan stood before the House and the Senate in 2005 and said if we did not oversee the actions of Freddy Mac and Fannee May we would be in a finicial crisis down the road. John McCain stood before Congress with Legislation to over see Fannee May and freddy mac in 2005 that would have stopped the abuses. The Vote in the House and Senate was that every Republican voted for the bill to over see these 2 organizations, and every democratic Senator and House member voted against it. This is a fact you can not dispute. The reason the Democrats voted against it was because Freedy Mac and Fannee May gave more money to the Democrats than anyone else. And who were the 2 highest paid senators in Washington. Chriss Dodd who was overseeing the board that watched fannee May and freedy Mac. And Obama. Obama received over 150 thousand dollars to look the other way. The only people who caused this were the Democrats. They had a chance to advoid this in 2005 and they voted against it. Now they want to Blame McCain? LOL what a joke. ELECT A HERO, NOT A ZERO, VOTE FOR JOHN McCAIN!
"John McCain stood before Congress with Legislation to over see Fannee May and freddy mac in 2005 that would have stopped the abuses." - No, he didn't.

Why do you lie?
funnyman

Fairfield, CT

#92 Sep 26, 2008
Elaine wrote:
I work for the CEO in a financial institution.
Without this so called "bailout", good luck getting ANY type of loan. Many, many more banks would simply close. We would possibly go into a great depression.
Without this bailout, the stock market was in REAL danger of CRASHING this Monday.
That's why this was so URGENT.
Sounds like youre more worried about if youre going to have a job tomorrow than worrying about what might happen to others.
Dave

Brooklyn, NY

#93 Sep 26, 2008
Barak O-Bama is GW Bush-only difference? One is tanner then the other.

Don't believe O-Bama if he's elected it's business as usual and guess who flippin the bill?
Teddy R

Owings, MD

#94 Sep 26, 2008
Hmmm wrote:
<quoted text>
I hate the idea of this...but what is the alternative?
Economic recession, possibly depression, if credit markets continue to freeze up.
funnyman

Fairfield, CT

#95 Sep 26, 2008
Bailout banks?..Bush, what about bailing out our poor with shelter or a better education? What about bailing out of Iraq? What about bailing out others who really have hit rock bottom because of your stupidity? We should have been worrying about ourselves and our children futures instead of your ego. Bush needs to be held accountable for all this mess he has caused for millions and millions of people here at home and those who lost their lives for his selfishness.
Danny

Newark, NJ

#96 Sep 26, 2008
I am so smart. I held off buying
a house and now I am going to do
something never done before on
Long Island - buy one at auction
with tons of others up there for sale!!!
www.NYForeclosureShowcase.com
This is great !!!
funnyman

Fairfield, CT

#97 Sep 26, 2008
Smart Joe wrote:
Lets look at how we got into this mess... Alan Greenspan stood before the House and the Senate in 2005 and said if we did not oversee the actions of Freddy Mac and Fannee May we would be in a finicial crisis down the road. John McCain stood before Congress with Legislation to over see Fannee May and freddy mac in 2005 that would have stopped the abuses. The Vote in the House and Senate was that every Republican voted for the bill to over see these 2 organizations, and every democratic Senator and House member voted against it. This is a fact you can not dispute. The reason the Democrats voted against it was because Freedy Mac and Fannee May gave more money to the Democrats than anyone else. And who were the 2 highest paid senators in Washington. Chriss Dodd who was overseeing the board that watched fannee May and freedy Mac. And Obama. Obama received over 150 thousand dollars to look the other way. The only people who caused this were the Democrats. They had a chance to advoid this in 2005 and they voted against it. Now they want to Blame McCain? LOL what a joke. ELECT A HERO, NOT A ZERO, VOTE FOR JOHN McCAIN!
And you know whats funny about all these banks crumbling?..Shulmer called it way before anyone thought about it and they called him crazy.
American Boy

Farmingdale, NY

#98 Sep 26, 2008
This past week in India several employees that were laid off beat the company CEO to his death.
Maybe they are smarter than we are. It's time to vote some people out of office. We need some real people that will steal from us.
free speech

Ramsey, NJ

#99 Sep 26, 2008
If your elected officials in Washington want to spend $700 BILLION to buy up all of the junk in this economy, I say; SEND THEM YOURS FOR FREE !

That's right, if you`re against this bail-out send one piece of your worthless junk each to the President, each state senator and your house representative.

----------
Dear Sir/Madam:

If you want to buy $700 Billion in junk, don't bother; you can have mine for free!

If you vote yes for this bail - out, I'll vote no when you come up for re-election.

If you vote yes for this bail - out, I&#8217;ll be actively supporting whoever your next opponent will be.

I insist you vote against the proposed $700 Billion Bail-Out.

Respectfully,

NAME
ADDRESS
CITY, STATE, ZIP CODE.
----------

To find the names and contact information of your elected officials, visit the following website:

http://www.usa.gov/Contact/Elected.shtml

PASS IT ON --- THE MORE JUNK THEY GET --- THE SOONER THEY'LL GET THE MESSAGE !!!!

.,.,
Vote McCain Palin

East Hampton, NY

#100 Sep 26, 2008
It's the greedy Wall Street pigs...and you don't need to be living in New York to work for Wall Street...So the pigs are all over the world and country...All these rich slobs with more money than they could spend in a lifetime, they have with evil on their minds ruined countless lives here in America...while they sink their teeth into the green...American families are a total bust...children watching parents fighting over "shoulda woulda coulda" and then the government...Hey big brother your terrorists are sitting around you just take a look...they are profoundly financial terrorists and they have decimated our economy!!!
It's so gross to think...not gross...actually horrid to think that my husbands comrads in the FDNY ran into those fiancial towers to save the asses of those big financial devils and lost their wonderful lives doing so...those devils who filled their rich pockets with other folks money!!!
McCain obviously saw this financial hurricane the same way he viewed IKE in Texas and postponed the Republican National Convention...this was the proper move and while he's a Washington insider too, at least he has the sense to say NO MORE to the same old business as usual. This bail out while necessary will have accountability and it will have to be viewed under a microscope for the rest of the country to babysit. If you trust that this country has lead you down the right path low this century...think again. Not one time did political big shots with lofty families and posistions look after the country as a whole...it was the rich getting richer and the poor getting poorer and what we need is a person who hails from a simpler socio-economic background consistant with what our country has stood for since our founding fathers gave us freedoms we still "God Willing" enjoy today. I hope it's McCain/Palin because we've had enough with handsome men, smiling into the camera being called "Sexy" on the VIEW (as though Sexy has any importance in big government..Monica Lewinsky anyone?)Oh country of no account, glamorous hollywood kiss asks need to go away on a very long vacation with their big fat salaries and shut up and sing, dance, act, do whatever it is you get paid stupid for and take with you all the theiving robbing rogue lawyers and judges and corporate CEO Slime so the rest of us can begin to clean up after you and put our country in proper working order.
Jack Webb

Owings, MD

#101 Sep 26, 2008
Janitor wrote:
<quoted text>
I agree with you totally on that. And, while we're at it, let's put the investigators in the FBI who knew damned good and well what was going on all along, and the politicians who did in the same cages. When they turn in their paychecks, make that money go to the dept and anyone who touches it can be tossed in their with them. And, so they won't be sitting there idol, we can send the pack of them down to Iraq and Afghanistan to do the fighting in their lying war. Maybe the whole bunch of them will kill themselves off and someone sane might actually take their place.
Dead right.

Show me any of these financial institutions that is upside-down now and "needs" this bail-out, and I'll show you a bunch of corporate officers and CPAs who have been violating federal and state laws for years by signing off on fraudulent financial statements that misrepresented the values of these "toxic" assets and the financial condition of the institutions holding those assets.

All of them desperately need 5-10 years or more in prison, and to be forced to disgorge all their personal wealth.

Forget bailouts. We want arrests, perp walks, indictments, debarments, disgorgements.
Jack Webb

Owings, MD

#102 Sep 26, 2008
This is what's driving a lot of Bernanke's and Paulson's thinking that the economy is in serious jeopardy & speedy intervention is needed:

http://www.bis.org/review/r070621a.pdf
BRuth

United States

#103 Sep 26, 2008
Danny wrote:
I am so smart. I held off buying
a house and now I am going to do
something never done before on
Long Island - buy one at auction
with tons of others up there for sale!!!
www.NYForeclosureShowcase.com
This is great !!!
Good Luck you'll need it. First everyone is old. The Island shuts down like 9 P.M... Second even if your given a house for free it a real pain in da A$$ to pay the taxes and electric and heating bill. Third The traffic and noise and air pollution along with all the stress these people feel from all of above will make you sick and send you to an early grave. Don't buy anything here at this time you'll really regret it.
Eric

United States

#104 Sep 26, 2008
george w bush wrote:
well - my work is almost done here...
i have until january 20th - plenty of time for me to do more damage to the country - what should i do? bomb iran? ignore the economy some more?
don't worry - it'll be a big surprise!
anyway-
i'd like to say thanks to everybody who voted me in! your ignorance about history, politics, economics, science and government really allowed me to completely screw the country!
did you actually think you would be better off with me as the president!! hahaha!! tricked ya!!
clearly, the fact that you thought that i would be cool to have a beer with (not to mention my daddy's lucky sperm) has allowed me to destroy america - my grandaddy prescott would be so proud!!
by the way, i'm would never have a beer with any of you low lifes...but thanks for thinking that it would be cool if i did!
oh well - i'm gonna miss making fun of cheney's grumpy mug every day...and hooking up with condi - especially when she wore those leather boots...
thanks republican voters!
god bless you!
i couldn't have done it without you!
dubya
You should probably read the story again before posting any more assenine comments. This bailout is being stalled by the Republican party, not the Democrats. The Left is pushing a $700-billion bailout for financial institutions that lowered their income standards to allow low- to median-income individuals to take out mortgages they otherwise knew they couldn't afford.(I defer to post #33 of this thread) Now, predicated on the push from the Clinton administration, subprime loans and ARMs are at the forefront of an economic collapse because your party allowed so many people to live beyond their means. Now, due to their financial ineptitude and sheer greed, the majority of Americans will wind up financing a "fix" to permit these greedy, self-serving homeowners from paying a mortgage on the full value of their homes. My heart goes out to the extremely small percentage of Americans who were victims of predatory lending practices, but the vast majority of those facing foreclosure right now are the ones who planned on flipping their homes and making 100% profit before the prime rate kicked in but couldn't due to the decline in the housing market.

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