The bailout was stupid. There was a better way

[VolBeef88]

Congress did not need to spend this much of our money. Here is what I think would have been a much better idea.

Freeze the Capitol gains tax for 120 days and ease the loaning regs. That would get more liquidity from the private sector and get things going. And more importantly the Feds would not be getting involved in the maket place.

 

[VolBeef88]

By easing loaning regs I mean not requiring institutions to loan to higher risk clients. I am a firm believer in transparency.

 

[MontereyVol]

Here's a better idea, offer the bailout in some type of bond, garunteed at 8-10% return. Then sell it to Joe Public who weathered this economic mess by saving his money and not living beyond his means who can now have a government backed bond for 8-10%. You know like what is currently proposed at 11.86% except you would be rewarding the smart people and not bailing out the idiots.

 

[therealUT]

Here is an idea. Allow industries to take their own risks and fall on their own faces every once in a while...???

 

[BigPapaVol]

Here is an idea. Allow industries to take their own risks and fall on their own faces every once in a while...???

I like this solution to the extent that the government didn't have their hands all in the midst of the real estate problem.

 

[UT IE 95]

I liked the interview I saw with the farmer in Kansas before the bailout. He was wondering where the government bailout was for him and his peers. Bailout Wall Street but not the backbone of the country?

 

[BigPapaVol]

I liked the interview I saw with the farmer in Kansas before the bailout. He was wondering where the government bailout was for him and his peers. Bailout Wall Street but not the backbone of the country?

farming revenues are the backbone of our nation?

 

[UT IE 95]

farming revenues are the backbone of our nation?

I was losely quoting him from memory. You know - farmers, steel workers, factory guys, etc - being the backbone of America. I don't think he meant it in a financial tone.

 

[BigPapaVol]

I was losely quoting him from memory. You know - farmers, steel workers, factory guys, etc - being the backbone of America. I don't think he meant it in a financial tone.

got it.

I think our financial system is at the heart of our national strength. Any failure there and all the rest of it becomes moot. There won't be any buying of wholesale wheat.

 

[droski]

the farmers are big part of the problem in this country. talk about being paid for doing nothing. wall street needs to take a look at the farmers to find out how to rape middle america.

 

[joevol320]

I was losely quoting him from memory. You know - farmers, steel workers, factory guys, etc - being the backbone of America. I don't think he meant it in a financial tone.

anytype of factory, farming or other physical working job is the back bone of America.

us office workers, white collar workers and business owners just kick back, play fantasy football and collect all the money that is rolling in. oh shoot, i just received a 4,000 check while typing this now. yep, i just sit here all day and do nothing and make so much money.

 

[VolsNSkinsFan]

I liked the interview I saw with the farmer in Kansas before the bailout. He was wondering where the government bailout was for him and his peers. Bailout Wall Street but not the backbone of the country?

They are making plenty of money from the other govt sponsored boondoggle... ethanol

 

[volinasheville]

The Wachovia buyout is the best example of why this bailout is bad. The government gets involved and puts together a deal to take hundreds of million dollars in bad loans and allows Citi to pay $2.1 billion for what's left. Wells Fargo comes in and offers 7+ times that amount and the government takes none of the bad loans. Now, Citi is suing for $20 billion in compensatory damages over Wells and Wachovia's actions.

Free market solution costs the government zero dollars v. government negotiated deal cost of who knows what. Citi now seeks to be compensated $20 billion for what was going to cost them $2 billion? And we're supposed to believe that doing this many times over is a good solution to the problem. Good grief.