More On The Failed Bailout

Heh - I like Lou Dobbs.

Comments

[Forrest]

In the end, this bailout may be ram rodded down the throats of the US taxpaver that were not responsible for creating this mess in the first place. Our money needs to stay under lock and key and not turned over willy nilly to lame and out of touch politicians that served as a wake up call that Washington is truly out of touch with the US citizens. Let Wall Street, the banks, the hedge funds, Congress, and the White House figure out how to get the country out of this mess, the US taxpayers did not create the mess and no US taxpayer dollars should go to clean up a mess that the US taxpayers did not create. This is not our problem that was premeditately perpeptrated on the US taxpayers. I would like to see prison sentences and huge dollar fines extracted on anyone in business or government that were behind this scam, US taxpayers have learned first hand the lie of Weopons Of Mass Destruction that gave the White House a blank check to do whatever in the Middle East, the blank checks need to stop, it is no longer carte blanc for Washington DC, Wall Street, the banks, hedge funds to waste and commit fraud upon the US taxpayers, time for folks to be heading to jail to spend out their lives and we want our money back. Stop the lying and bring integrity and ethics back into our political system, do a show of good faith that you will do something by first lining up the culprits and sentencing them to long prison sentences, we want our money back.

[Ron Reeves]

The insane blunder in Iraq has cost us 600 billion. They want 700 billion and they want it all at one time. Why? 700-600-100 billion. That money will go to invade Iran. Simple as that. Bush can't open his mouth without lying. NO BAIL OUT of Wall Street. Bail out the health crisis you've caused. Bail out people who have no place to sleep in "the greatest nation on earth." HA! I love this country but I hate what Bush and his neocons have done to it.

[geek]

Lou Dobbs cut his teeth on TV on Wall Street!!

Where has his insight been for the past year on the pending crisis, no where.

Mr. Dobbs instead used his nightly platform to yell at the top of his voice on boarder crossing, pandering to the worst in people for ratings.

Great job Lou in warning the American people on the pending financial crisis. I wonder what the cost of health care for people south of the boarder compares to a $1 Trillion bailout of your friends on Wall Street

[Annette]

I don't disagree with your comments. But have you read the TIME magazine article which appears to point out that the FED doesn't NEED Congressional approval to bail out failing firms at taxpayer expense, that it has BEEN doing it, and WILL CONTINUE to do it, perhaps to the tune of MORE than the $700 billion in the bailout bill, but without the oversight and attempted protection of taxpayers stipulated in the bailout bill.

This might explain why any politicians at all are in favor of the bailout, despite overwhelming consumer disapproval. (Even politicians who are traditionally more for middle America than Big Business. In fact, the bunch that traditionally supports Big Business shot the bill down. That should make us wonder.)

It would be nice if the bailout bill had been explained better in the first place, but in an election year I think politicians were afraid to be the one to tell voters that they wiill most likely be forced to fund these bailouts whether we want to or not, whether Congress votes for the bailout bill or not. We have a tendency to blame the bearer of bad tidings.

Check out the article at http://www.time.com/time/nation/article/0,8599,1845609,00.html

It is scary!

[Mike]

I completely agree with Geek. Lou Dobbs is nothing but a Hypocrat. He hates everything and everybody. He thinks everybody other than himself is stupid. If he is so smart, why does not he recommend any new ideas or solutions rather than bitching about everything happens. Or better why doesn't he run for an office as an Independent. He sounds like my wife. Nothing I could do is right.

[Forrest]

Here's the solution to the bailout problem, the government should let the companies write down the toxic mortgages in a major write down, then surrender all toxic assets to a government run Resolution Trust. When folks get a mortgage, the lien against the property is just that, seperate from the mortgage. Let the banks do a one time huge write off, have the government then take them, the government could then auction them off to the US Taxpayer. After all, once the mortgage is paid off, the asset really doesnt belong to the bank, it goes to the home owner and the lien obligation goes away. So do a huge one time writedown and surrender the property. Then the banks can get back to business of raising money in other ways. As far as the hedge funds, they can go belly up and these mortgage backed securities, they are worthless at this point anyways. Just do one huge write down and the problem is then solved, also a moratorium needs to be put into place for a period of two years before allowing any of these institutions that got themselves into problems so they can prove they can run under stricter regulations.

[Tom]

Lou,

I think the real idot is you ! I think your brain is in your ass. Which ecnomists did you talk to. Do you know what the hell you are talking about? If I lose any more money, I will be coming after you.

[T Allen]

Lou Dobbs's ego has become so large that he really believes he knows everything. He has also become mean spirited and utterly lacking in manners especially if someone has the audecity to disagree with him.

He has earned the reputation of making Bill O'Reilly sound good.

[John Q]

I definitely agree with Tom. The top economist in the country (FED chairman Ben Bernancke) with access to the most information and contacts with the other top economists says this is something we NEED! What marginal economists is Lou talking too?!

Anyone notice that the bill pretty much guaranteed the American taxpayer to get their money back? The set was that companies that benefit from this would have to pay any losses the government incurs from this plan.

It's really too bad they called it a "bailout" plan. The name just makes the plan sound bad and since people to research things they just have knee jerk over reactions.

[nerakami]

I used to think Lou Dobbs was doing good by highlighting stories that otherwise would've gone unnoticed, but the more I watched the more I realize that all Lou does is gripe and complain, and that's a real turn off. I know there're lots of things not being adequately, or not at all in this country but I just cannot understand how every show he simply gripes and complains and offers no solutions by bringing in experts on the topics.

He riles up the population and leaves them hanging with their anger and disgust. He screams about the bailout... now the economy is literally crashing before our eyes and now he's going to scream that no one is doing anything about the tanking economy.

Now I realize Lou Dobbs does more harm than good. Negativity only breeds negativity. He needs to find a balance.

[Dawn]

LOU DOBBS for President

[Whitman]

Where's my money? I could use some cash too? Hey, Christmas is coming. I could promote the economy with 700 billion dollars. This is laughable. The smartest, richest people in America are getting the bail out. I plan to vote against EVERY incumbant I see on a ballot.

[Rosty]

We love you Lou

Keep up the good work!

[Hans]

I find it quite hypocritical of CNN not to have comments under the Lou Dobbs story. Like the one sided rants on his show, CNN wouldnt like anyone to comment against him there either.

I have watched his shows earlier, and all he does is pit one against the other, while offering no solutions. Too many suckers fall for this crap. While I wholly support being inedependent, I prefer something that is procative, instead of being based on blame. But boy, being all things to all people sure has made him successful. People are gullible anyway, and while that kind exists, he will make a living for sure.

He can afford to oppose the bailout for sure. I dont think his kids need a loan for college. And his wife doesnt need a loan to buy a car either.

Someday, I hope people realize what a shameless crock he is.

[Eileen]

Hey how about some trickle up economics for a change. Give every homeowner in the United States (all 95 million of them) enough money to pay off their mortgages - say $300,000 or so and then do the same for every family in America so that people who are homeless due to predatory lenders can go out and buy a home. If there's any money left over we can all begin to pay off our credit card debt too and get back on a cash basis. Do the math people it's a lot less expensive than bailing out wall street to the tune of 700 billion!!! With all the mortgages paid off money will be freed up for the banks to lend to business and get the economy back on track. To hell with wall street let these firms go bankrupt. Bail out main street and get some liquidity back in the banking system and we'll be fine.

[Erika]

...interesting wording on the CNN website front page: "Congress' failure to pass a $700 billion bank rescue plan".

Why don't they word it: "Congress' SUCCESS in DEFEATING a $700 billion bank BAILOUT"?

I guess the wording pretty much says it all about the mass media's owners, huh.

[LouWho]

Lou you are an embarrasement. Lou Dobbs is the biggest idiot in news. Anyone would spew the garbage that he does about the bailout is truly stupid. Banks are so intertwined that they can cripple this entire country if they continue to fail. This idiot is too old to not understand that. He should be let go by CNN to even offer such a rediculous opinion.

He says that the uptick in the market today is proof the bailout is wrong. Dumb ass the market went up because investors are hopeful that the bail out will eventually get approved. Lou - Do you read? Your are totally embarrassing!

[Erika]

Gee, LouWho, if that were true, how come 166 of the nation's top economics experts signed a statement last week, which was sent to Congress, recommending they REJECT the bailout, and PREDICTING the market upturn if the bailout was defeated?

Oops. Guess CNN forget to report that tidbit of information, too.

[John]

How dare you say that the two presidential candidates are not, in any way, listening to the American people. Where do you get off by stating that the American people do not want this bailout? I am an American, and I want the bailout. That should tell you something. What this is going to do is stabilize the market, much like the same method the government used during the Great Depression, when they bought up bad homes and waited until the market leveled out back to normal. Stop trying to appeal to the angry people in America, and start reporting the real news. You blow me away with your complete pigheadedness.

[John]

How dare you say that the two presidential candidates are not, in any way, listening to the American people. Where do you get off by stating that the American people do not want this bailout? I am an American, and I want the bailout. That should tell you something. What this is going to do is stabilize the market, much like the same method the government used during the Great Depression, when they bought up bad homes and waited until the market leveled out back to normal. Stop trying to appeal to the angry people in America, and start reporting the real news. You blow me away with your complete pigheadedness.

[LouWho]

Erika - If you put 10 economists in a room 5 will say yes and 5 will say no, no matter what the question is. The reaility is that if we do not protect these banks this economy and your job will go to hell. Small businesses can't get loans. Large businesses will have high interest rates and also will eventually not be able to get loans. If money dries up, the economy is screwed and we turn into a third world country. You and Lou need to understand this.

[moiraeknittoo]

I found the Ben Stein column in the recent NYT (I think it was the NYT...I can't find the link at the moment) quite interesting. This has definitely prompted a lot of discussion, which I've been following with great interest.

[James]

Interesting that Lou Dobbs didn't suggest one alternative to the bailout plan. All he did was bitch about everyone, and then said something about liquidity being the problem. His rants are almost Palin-esque. I'm not necessarily for the bailout plan, but Lou Dobbs is a blowhard.

[Tyler in FL]

Please say no to the bailout, or at least ensure it has provisions such as a mandatory $350B limit and no more. We need to start addressing this problem at its source, and not be rushed into handing over unlimited money and unchecked power to the executive branch and the Fed Reserve, who may or may not have contributed to this mess in the first place.

There is an interesting theory circulating that many corporations are simply too big to fail; that is, they've garnered so much might and market share that their very failure would inject immense harm to the economy (i.e., AIG), if not shut it down completely. As a result their sheer size has given them a free insurance policy of sorts, that the US taxpayer will be forced to come to the rescue.

Heavier anti-trust legislation may be needed to combat this trend of corporations growing "too big to fail." What's next -- Exxon claiming a financial loss so large in the upcoming recession, that it must cease operations...No oil/gas, unless the taxpayer bails it out? Or a pharmaceutical giant like Pfizer -- are Americans simply not to receive their medications if they won't heed to a possible bailout request here?

In short, there are larger issues to address...But a bailout will simply not attack the problem at its core. A limited bailout to stem market concern in the short run, yes, but from there we must use the time wisely to study the problem, then construct a better, more comprehensive plan that nips it at its source.

[Tyler in FL]

Please say no to the bailout, or at least ensure it has provisions such as a mandatory $350B limit and no more. We need to start addressing this problem at its source, and not be rushed into handing over unlimited money and unchecked power to the executive branch and the Fed Reserve, who may or may not have contributed to this mess in the first place.

There is an interesting theory circulating that many corporations are simply too big to fail; that is, they've garnered so much might and market share that their very failure would inject immense harm to the economy (i.e., AIG), if not shut it down completely. As a result their sheer size has given them a free insurance policy of sorts, that the US taxpayer will be forced to come to the rescue.

Heavier anti-trust legislation may be needed to combat this trend of corporations growing "too big to fail." What's next -- Exxon claiming a financial loss so large in the upcoming recession, that it must cease operations...No oil/gas, unless the taxpayer bails it out? Or a pharmaceutical giant like Pfizer -- are Americans simply not to receive their medications if they won't heed to a possible bailout request here?

In short, there are larger issues to address...But a bailout will simply not attack the problem at its core. A limited bailout to stem market concern in the short run, yes, but from there we must use the time wisely to study the problem, then construct a better, more comprehensive plan that nips it at its source.