They both suck. Bailouts suck. I’m pissed off at the whole mess.
Obama’s top contributors:
Goldman Sachs $691,930
University of California $611,207
Citigroup Inc $448,599
JPMorgan Chase & Co $442,919
McCain’s Top Contributors:
Merrill Lynch $298,413
Citigroup Inc $269,251
Morgan Stanley $233,272
Goldman Sachs $208,395
JPMorgan Chase & Co $179,975
If you don’t vote, you can’t bitch about the government for the next 4 years. Plus you’ve got local elections and ballot initiatives.
Just go vote libertarian or another independent!
And not that I know anything about economics but everything I’ve been reading about the ‘bailout’ is that it will actually make money in 5 to 10 years. Of course that’s dependent on the fact that they spend the money correctly.
C – Well, since I’ve moved in the last 30 days, I can’t be registered to vote (need valid ID with address). And because today is the deadline to register, I’m kinda S.O.L anyway. I was going to write in a vote for Ron Paul and vote on initiatives like you suggested. So, now I’m going to bitch anyway, cause it was “the man” who turned me away. 😛
J – Yeah, I’ve heard that too. If they buy back loans correctly, they can resell them at a profit later. In theory. Of course, I doubt WE will ever see that money, even though it’s our money that’s financing the whole mess. No, it’ll go back to the treasury and they’ll say something like “we’re using it to improve roads and schools, so you ARE seeing your money.” Our tax dollars at work. Ha. More likely, they’ll break even or still be under and the companies they bailed out will make billions by buying back and reinvesting the securities we just paid for. There’s nothing to stop the companies we just bought FROM to buy BACK those same bad loans once they become profitable.
I dunno, I’m no economist either, but it just seems convenient that we “needed” to put in all that money into a system that isn’t working. And from the sounds of the global market today, it’s a system that isn’t working anywhere. Germany just put a huge bailout into their market. It’s pretty obvious that something in our global investment system isn’t working.
When a toilet won’t flush, you don’t keep dumping more shit into it.
Bitch on! It’s America! You don’t have to vote to earn the right to bitch about anything/everything. 🙂
Good luck getting everything unpacked.