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2 of 3 Utah congressmen vote no on bill
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Russ | 4:03 p.m. Sept. 29, 2008
The markets are reactionary. I'm glad it got voted down.
History Lesson | 4:06 p.m. Sept. 29, 2008
Apparently many here don't know that the stock market crash of 1929 and the
Great Depression were products of government intervention, not the market.
The crash of 1929 was directly attributable to the protectionist Smoot-Hawley Tariff Act that stifled exports and set off an international trade war. Roosevelt's socialist New Deal actually deepened the Depression and extended it for several years.
BTW, if the name Smoot sounds familiar it's because it is; Senator Reed Smoot of Utah was one of the co-sponsors of the Act. Thankfully Utah politicians have learned to better respect market forces since then.
The crash of 1929 was directly attributable to the protectionist Smoot-Hawley Tariff Act that stifled exports and set off an international trade war. Roosevelt's socialist New Deal actually deepened the Depression and extended it for several years.
BTW, if the name Smoot sounds familiar it's because it is; Senator Reed Smoot of Utah was one of the co-sponsors of the Act. Thankfully Utah politicians have learned to better respect market forces since then.
Sterling | 4:04 p.m. Sept. 29, 2008
This is not a "bailout" of fat cats on Wall Street. This is a
resuscitation of credit flow, the life blood of our economy. The tax payers
will make money with this plan. It is strongly needed to keep us as individuals
and small businesses solvent. We desparately need Bishop and Matheson to
support this plan. Do the right thing, Congressmen, and pass the bill when it
comes up again. Otherwise, you will be responsible for economic catastrophy.
Comments continue below
Brother Chuck Schroeder | 4:10 p.m. Sept. 29, 2008
Does the liberal's in Utah love their proud icon now?. Obama STILL lacks
discernment regarding the character of others; could possibly be easily walked
on; doesn't place an emphasis (more than average or even average) on
ideals; lacks strength in abstract and theoretical thought; somewhat of an
opportunist; tendency to rationalize feelings; at times, faulty reasoning (but
not an excessive concern); skilled at rationalizing his mistakes; fails to
fully, sincerely, accept responsibility for errors; evasive and too indirect;
self-deceit is higher than average--readily believes only what he wants to
believe and accepts half-truths, from himself and others; lacks genuine
sincerity to some degree; in response to spontaneous questions asked of him, he
frequently lacks straightforward communication and will instead offer jumbled
responses, for example, despite his otherwise apparent compelling talent for
communication; somewhat self-destructive; and overall he projects a stronger,
more potent image than he actually possesses.
McCain says Obama and his allies have injected unnecessary partisanship into efforts to pass bailout legislation for the financial industry.
Better get back to work immediately to address a crisis that he said could affect every family and small business in America.
McCain says Obama and his allies have injected unnecessary partisanship into efforts to pass bailout legislation for the financial industry.
Better get back to work immediately to address a crisis that he said could affect every family and small business in America.
Economy needs a Boost! | 4:11 p.m. Sept. 29, 2008
The economy needs a boost. Saving credit and lending institutions is a good
idea if you still are the type of person that needs a loan to buy a house, or to
get a car, or even a loan for college.
Bad decisions got us here, but it would drastically affect everyone's daily lives if you now have to buy houses, cars, college educations, and more in cash.
Its hard to swallow, but the bailout is needed.
Bad decisions got us here, but it would drastically affect everyone's daily lives if you now have to buy houses, cars, college educations, and more in cash.
Its hard to swallow, but the bailout is needed.
Private Solutions | 4:15 p.m. Sept. 29, 2008
There is plenty of private solutions and private money sitting on the sidelines
waiting. They will come to the market to play, they are and were just waiting
for the taxpayers to buy the crap so they could get to the good stuff. Do your
research, the financial companies did this to themselves. Hedge funds made
billions driving 100+ year old financial firms into the ground. They bought
insurance against the financial stocks and securities then drove them to the
ground and collected the insurance which further complicated matters. Now those
same hedge funds and investors are just waiting for the next "easy
money". Thank you Congress for not allowing the taxpayers to be the
"easy money" this round.
Anonymous | 4:19 p.m. Sept. 29, 2008
Dear Mr. Cannon,
What happened while you were in Washington? Did you forget that you are a REPRESENTATIVE? That means you represent the position of your constituents. I am so disappointed.
What happened while you were in Washington? Did you forget that you are a REPRESENTATIVE? That means you represent the position of your constituents. I am so disappointed.
Maybe | 4:22 p.m. Sept. 29, 2008
they voted "NO" because they know that there is a better way to do
this. I was concerned about a few things in the bill. A couple of which had
nothing to do with the bailout.(automakers and big oil?) Just because they
rejected this plan doesn't mean they'll reject a better plan. It was
stupid to get into this mess, it would be more stupid to spend tons of money on
a bill that doesn't do what they need it to. I have enough faith in
Matheson that if he voted no, it was for a reason.
Measure twice, cut once.
Measure twice, cut once.
Global Contraction | 4:23 p.m. Sept. 29, 2008
The failure of this bill is a welcome dose of reality. The global economy will
now contract and self-correct. Pelosi said one thing right today: "The
party's over."
Bleedin'Green | 4:30 p.m. Sept. 29, 2008
Perfect example of who not to vote for this Fall!
grapple | 4:36 p.m. Sept. 29, 2008
Borjas and Y'all need to get educated: Go read some history and "get
educated". The great depression was brought on by exactly the same problem
we have now...massive credit expansion. And for intervention, what about your
boy Bernanke? He's the depression expert. He has made MASSIVE injections
into the credit markets to stop such a credit crisis and what has all this Fed
intervention got us? Nowhere. Intervention will just put off the inevitable. And
what do you think the Government is going to do the raise the money for the
intervention? Sell debt to foreign countries and print the money...kinda like
Japan but more though the back door. A system based on debt can not survive! And
yet they say, "lets get rid of these bad assets on banks books so the
economy can continue to expand". Expand? Expand on what...more debt? The US
citizen is already maxed out on debt and is spending 2% more than he/she makes.
Yea lets add another couple of trillion dollars to the debt...great idea and a
surefire way to fix the problem of too much debt. lol
Idiotic Vote | 4:39 p.m. Sept. 29, 2008
This was one of the most idiotic votes in recent memory. Voting against a bill
that will save peoples savings and retirement for political reasons is
sickening. The fact is that the goverment would most likely MAKE MONEY with
this bail out. I will hold my representative accountable for his vote come
election time.
Melissa | 4:40 p.m. Sept. 29, 2008
This is not the last time Congress will vote on this. We need to stick on our
representatives to prevent this from passing.
Email Mr. Chris Cannon today!
Email Mr. Chris Cannon today!
NOT FAT CATS!!!` | 4:45 p.m. Sept. 29, 2008
This is about YOU and ME and your ability to get ANY loan folks. Wake up and
smell the depression if this is not passed!
To: Math Skills | 4:50 p.m. Sept. 29, 2008
He never said every american, he said every home owner. Learn to read
Tab L. Uno | 4:50 p.m. Sept. 29, 2008
A populist revolution in the making? This American version of working class
against the aristocracy reminds me of a non-violent version of revolutions that
occurred in Russia and France in the 19th Century. Whether or not an actual
revolution will result from all this, it is striking how this financial crisis
is playing out with have and have nots - not on the battlefield but in the halls
of Congress and the Office of the Presidency. I am wrong but is American
Democracy actually working, preventing the typical bloodshed that often occurs
in such times as these in the past?
Bail-out Won't Help | 4:53 p.m. Sept. 29, 2008
CONGRESSMEN, THANK YOU FOR LISTENING! 700 hundred billion dollars will not help
a 7 trillion dollar failing credit market. Don't let the media fool you and
do your research. Passing this would change the face of America. You are willing
to do that to postpone the unavoidable? Either way mainstreet will go down
because of wallstreet.
RE: Borjas | 5:02 p.m. Sept. 29, 2008
Hahahahahahaha have you ever read the constitution? Oh my that was hilarious.
Hahahahaha I just can't quit laughing because... well, you wouldn't
get it.
1929 | 5:14 p.m. Sept. 29, 2008
When will the American people learn? Never. Because they are mostly morons.
They spend money they borrow but cannot afford to pay back. Blaming Wall Street
is like blaming the snake for biting you when you put your hand out to it. This
crisis was caused by millions of idiot Americans who live beyond their means
(trying to keep up with the Joneses). Wall Street and Main Street are connected
at the hip. If you you refuse to bail out Wall Street, your employer will not
be able to make payroll. It is not just banks that will fail but all types of
companies, large and small. See you in the soup line, spendthrifts.
be prudent | 5:13 p.m. Sept. 29, 2008
Anyone who glories in the crash of our economy to "teach a lesson to
others" has not sat down and really thought through the extent of the
misery and suffering it will cause.
I seem to remember someone teaching to not stay your hand because someone else deserved what he got.
I suggest the principle applies here too. We need to get things calmed down, and a vote of yes would have gone a long way to help.
I seem to remember someone teaching to not stay your hand because someone else deserved what he got.
I suggest the principle applies here too. We need to get things calmed down, and a vote of yes would have gone a long way to help.
JMT | 5:15 p.m. Sept. 29, 2008
Some truth to this.
The culprit in all of this is the Community Reinvestment Act AND requiring Fannie Mae/Freddi Mac to buy toxic subprime mortgages. Fact.
Next fact, both of those were driven by the Democrats. Republican guilt in this is that just a few of them voted with the Democrats to get it done. The Dems held almost 100% of their votes, we Republicans could only hold about 92% of our votes. That gave them and Bill Clinton enough to ruin the economy.
More guilt is that Republicans did not fight harder.
Also, Bill Clinton stopped using housing prices as a measure of overall inflation. That masked the rise in housing prices.
How many "rich" people do you know have lots of money, or is most of it tied up in their house? Most rich people I know have big houses with big equity. This is part of the Bill Clinton hide-a-thon that took place by removing housing prices as a measure of inflation.
Lots of shells games.
Democrats did it.
Republicans didn't fight hard enough and at times even fought harder to take credit for it.
This is 100% a Schlick Willie Bill Clinton 1990's mess. Period!
The culprit in all of this is the Community Reinvestment Act AND requiring Fannie Mae/Freddi Mac to buy toxic subprime mortgages. Fact.
Next fact, both of those were driven by the Democrats. Republican guilt in this is that just a few of them voted with the Democrats to get it done. The Dems held almost 100% of their votes, we Republicans could only hold about 92% of our votes. That gave them and Bill Clinton enough to ruin the economy.
More guilt is that Republicans did not fight harder.
Also, Bill Clinton stopped using housing prices as a measure of overall inflation. That masked the rise in housing prices.
How many "rich" people do you know have lots of money, or is most of it tied up in their house? Most rich people I know have big houses with big equity. This is part of the Bill Clinton hide-a-thon that took place by removing housing prices as a measure of inflation.
Lots of shells games.
Democrats did it.
Republicans didn't fight hard enough and at times even fought harder to take credit for it.
This is 100% a Schlick Willie Bill Clinton 1990's mess. Period!
Tell Them NO | 5:19 p.m. Sept. 29, 2008
Wall Street will continue to hold their hand out for easy money until the
politicians in the back rooms stop talking like they will fix this with taxpayer
dollars.
Financial smarts are starting to look at other options and as this drags on some real solutions will start to appear to them that don't include taxpayer dollars.
How about increasing the FDIC deposit insurance to cover larger accounts so the rich keep their money parked at banks so banks stay capitalized? That is action that would help.
Let's also realize that we don't all need to buy a home. Nothing wrong with renting until you can actually afford a home.
Financial smarts are starting to look at other options and as this drags on some real solutions will start to appear to them that don't include taxpayer dollars.
How about increasing the FDIC deposit insurance to cover larger accounts so the rich keep their money parked at banks so banks stay capitalized? That is action that would help.
Let's also realize that we don't all need to buy a home. Nothing wrong with renting until you can actually afford a home.
It isn't over | 5:40 p.m. Sept. 29, 2008
Melissa is right. We need to stay on top of this and make sure our
representatives know we are against this. It isn't over yet, they will try
and hammer it through again.
Why?... | 5:39 p.m. Sept. 29, 2008
Why should I have to pay for others' screw ups? I have saved my money,
invested wisely, and paid my mortgage on time. I don't owe Wall Street,
the government, or mortgage lenders anything!
Steven | 5:48 p.m. Sept. 29, 2008
I am very pleased that my representative, Bishop, voted against this law. There
is no reason to a burden on American taxpayers for the mistakes that others have
made.
ignorance will kill us | 6:01 p.m. Sept. 29, 2008
The majority of the underlying mortgage assets that the government would buy are
basically sound. They are simply being horribly undervalued because of the
chaos in the markets, causing weakened balance sheets and stingy bank lending.
So, we would not be "bailing out" anyone; on the contrary, just
stabilizing the market. This is what Secretary Paulsen originally asked for.
But the ignorant political fools on Capitol Hill (and the media) have
characterized this as a bailout. It is not. It is stabilization. And without
it, I fear the Good Ship USofA will capsize within weeks. Chris Cannon is a
businessman who understands how capital markets work. He, alone, cast the right
vote today. But alas, to no avail. I'm glad I have my food storage...
Emily E | 6:07 p.m. Sept. 29, 2008
I called Cannon's office and he gave me a really lame response about how
Warren Buffet told him that there would be a Great Depression if we didn't
pass the bill. Basically, he knew better than all his constituents.
adios | 6:19 p.m. Sept. 29, 2008
Chris Cannon! Guess he wants to remind his constituents that he still
doesn't represent or listen to us. Don't let the door hit ya on the
way out!
Anonymous | 6:39 p.m. Sept. 29, 2008
Pelosi is no leader. Her speech was horrible. I thought she was against the
bill nearly the entire speech.
tk | 6:40 p.m. Sept. 29, 2008
I'm surprised that so many understand so little about how our economy
works. This is not about letting a few bank get their come-upance nor does it
relate to whether individuals did or did not live within their means. A failed
bailout will hurt: 1) All shareholders of public companies, as witnessed in the
700+ point drop on wall-street (by the way - individuals who own stock ARE the
people who lived within their means and are the worst hurt for lack of a
bailout); 2) All private businesses when spending is tightened by worried
households and corporations; and finally 3) well run banks that are forced to
curb their lending. I have actively campaigned against Chris Cannon for years,
but in this case he did the right thing. As a previous contributer suggested, I
hope we don't look back on this as another Utah supported Smoot-Hawley act.
Dane | 6:52 p.m. Sept. 29, 2008
This is not a bailout of banks, but of the economy. If this doesn't pass,
we could be headed for big trouble. People fail to understand the basics of
this bill, and the fact that it will have little to no impact on tax payers. In
24-36 months, the government will be able to sell these mortgage securities at
double what they're worth now.
Cannon what is your problem? | 6:55 p.m. Sept. 29, 2008
I'm a conservative through and through, but I am more inclined to support
Matheson than someone like Chris Cannon. What is wrong with you, Chris? This is
why you are being booted.
Poor Utahns | 6:59 p.m. Sept. 29, 2008
I find it incredible that so many people on this blog are angry that the
government was taking action to save our financial system. The sheer ignorance
that this problem will simply work itself out is laughable.
We do not have a true free market nor have we ever had one. The only way out of the Great Depression was by a hard push towards socialism, and unfortunately you Utahns prefer to have the socialism after the fact than before when it will cost us more less.
I and millions other who are logical, think the cowards that voted against this need to be removed from office, and though I hate to say it more people like Cannon should stay.
We do not have a true free market nor have we ever had one. The only way out of the Great Depression was by a hard push towards socialism, and unfortunately you Utahns prefer to have the socialism after the fact than before when it will cost us more less.
I and millions other who are logical, think the cowards that voted against this need to be removed from office, and though I hate to say it more people like Cannon should stay.
You must understand | 7:06 p.m. Sept. 29, 2008
If you think that this is bailing out someone, then please tell us who? This is
bailing out each other from the negative effects of a freeze up of the credit
markets.
Credit markets don't just mean borrowing too much, they mean no 15 day loan for your company to meet payroll, so you get fired, and so do your friends.
They can't make their payments, and they stop buying things, so others get fired too. Down and down it goes.
This is not about personal debt. This is about investing in something that pays off later. This isn't buying a new car. This is borrowing to pay for a college degree.
Our economic growth runs on credit, borrowing now to invest in a new plant that makes a product, which pays it back. That means jobs for each of us.
So, before you bite the hand and vote "no", you better know whose hand you are biting.
It is each of our hands, if this economy tanks.
Credit markets don't just mean borrowing too much, they mean no 15 day loan for your company to meet payroll, so you get fired, and so do your friends.
They can't make their payments, and they stop buying things, so others get fired too. Down and down it goes.
This is not about personal debt. This is about investing in something that pays off later. This isn't buying a new car. This is borrowing to pay for a college degree.
Our economic growth runs on credit, borrowing now to invest in a new plant that makes a product, which pays it back. That means jobs for each of us.
So, before you bite the hand and vote "no", you better know whose hand you are biting.
It is each of our hands, if this economy tanks.
Ha | 7:08 p.m. Sept. 29, 2008
So the people that are on this board sound like the same "people" that
elected George W. Bush to two terms in office. How quickly we forget Utah, you
are quick to judge him but yet you give him his highest approval ratings
anywhere in the country. Irony? No, I call it Utah cynicism at its best.
For those opposed to the bailout, go read a history book, this economic climate does not fix itself. The recession will now become a depression within a year or two. Get used to standing in line for your food friends waiting for the government handouts you despise so much.
For those opposed to the bailout, go read a history book, this economic climate does not fix itself. The recession will now become a depression within a year or two. Get used to standing in line for your food friends waiting for the government handouts you despise so much.
Sherm | 7:27 p.m. Sept. 29, 2008
I have never been so embarrassed to be a Republican than I am today. I'm
glad to see these Congressmen who voted NO are more knowledgeable than Warren
Buffett and others who have some economic smarts. I hope and pray every one of
them who voted NO will find themselves unemployed come November.
JMT | 7:36 p.m. Sept. 29, 2008
Let me add that I will bet a golden nickel that something will pass.
This version was nothing but junk. What ultimately passes will likely be better, but just a little.
Let me state again, the bill that was voted down today included raising the debt limit to $11.3 trillion, from $10 trillion. Considering we are only around $9.3 trillion right now this means that this bailout was not for $700 billion but almost $2 trillion!!!
They are not telling us everything, and by voting this bill down we can have a more thoughtful discussion on it.
Remember, when a used car salesman tells you that you must it today or some old grandma from Pasadena is going to buy it tomorrow, don't walk....run!
This is what Pelosi and company told us today.
This used car of a bailout package can wait a day or two more.
Just so you know, the last quarterly numbers for employment/inflation come out on Friday.
Tomorrow will be another rough day on the markets. I predict another 400+ plunge. And then likely another 400+ one on Friday, the numbers will be bad.
We do something next week and it will recover this weeks loses.
This version was nothing but junk. What ultimately passes will likely be better, but just a little.
Let me state again, the bill that was voted down today included raising the debt limit to $11.3 trillion, from $10 trillion. Considering we are only around $9.3 trillion right now this means that this bailout was not for $700 billion but almost $2 trillion!!!
They are not telling us everything, and by voting this bill down we can have a more thoughtful discussion on it.
Remember, when a used car salesman tells you that you must it today or some old grandma from Pasadena is going to buy it tomorrow, don't walk....run!
This is what Pelosi and company told us today.
This used car of a bailout package can wait a day or two more.
Just so you know, the last quarterly numbers for employment/inflation come out on Friday.
Tomorrow will be another rough day on the markets. I predict another 400+ plunge. And then likely another 400+ one on Friday, the numbers will be bad.
We do something next week and it will recover this weeks loses.
JRM | 7:46 p.m. Sept. 29, 2008
Here is what scares me about the no vote: a loss of confidence in the dollar
that results in significant hyperinflation. Having seen it up close... the whole
idea scares me.
Something has to be done!!! | 8:01 p.m. Sept. 29, 2008
I am actually proud that Cannon had the ability to stand up and vote for the
bill and am very frustrated that Matheson and Bishop gave in to election
politics. Granted Bishop's comments indicate he will be in favor a bailout
package if it is re-written.
Blame who you want for the current financial mess but if we simply do nothing the consequences will be far worse then any of you want to know. We are already hitting high unemployment rates and that number will reach double digits if something isn't done.
Very sad that Congress is more interested in getting elected rather then securing American jobs over the long run. You may think that all of these jobs are Wall Street and don't hit places like Utah. Wrong, Goldman Sachs has a huge presense in Utah, American Express has a huge presense, Washington Mutual will see many of its Utah branches closed, and the list goes on. In addition, most 401k's and other investments went down 18% today and were down 12-18% on a YTD basis prior to today.
Are all of you ok with watching your jobs and wealth disappear in the name of preserving laizzez fair economics?
Blame who you want for the current financial mess but if we simply do nothing the consequences will be far worse then any of you want to know. We are already hitting high unemployment rates and that number will reach double digits if something isn't done.
Very sad that Congress is more interested in getting elected rather then securing American jobs over the long run. You may think that all of these jobs are Wall Street and don't hit places like Utah. Wrong, Goldman Sachs has a huge presense in Utah, American Express has a huge presense, Washington Mutual will see many of its Utah branches closed, and the list goes on. In addition, most 401k's and other investments went down 18% today and were down 12-18% on a YTD basis prior to today.
Are all of you ok with watching your jobs and wealth disappear in the name of preserving laizzez fair economics?
Ken Goddard | 8:10 p.m. Sept. 29, 2008
At least we elected two smart congressmen. This was nothing but a boondoggle to
save some lousy banks rather than raise the FDIC premiums to cover losses as is
required. Let the banks fail and raise the premiums substantially. At any rate,
this country needs a good financial shakeout to restore prudence in every
direction including the govt. We still have the credit unions and could and
should tax them just like they ought to be now.
Seriously? | 8:28 p.m. Sept. 29, 2008
I agree the plan is far from perfect. I am a really scared that so many are
reveling in the fact that the bill did not pass. Obviously most on this board
have no idea how the capital markets function, or they wouldn't so excited
about the no votes. I agree the complexity of the market is part of the reason
we are where we are. However, it is what it is and we must try to fix the
problem. When the market for commercial paper freezes up, and your credit card
is declined even though you pay your bill every month, or your payroll check
doesn't clear, then you can rejoice in the no vote. Be sure to contact your
congressmen and reaffirm your approval of his no vote when the company you work
for starts layoffs because they cannot secure capital, and are losing business.
Yes it is flawed, but doing nothing is much worse.
IM | 8:46 p.m. Sept. 29, 2008
This is going to be a classic case of "be careful what you wish for because
you might just get it."
I haven't spoken with anyone over the past few days that thinks that was a perfect bill but I have also heard from all involved that something has to happen. You that called up your Member of Congress and threw a fit don't understand what's happening here. I just hope that when small businesses aren't able to make payroll, your 401k is losing money, products aren't on shelves, and banks' doors start closing that you remember how you screamed and yelled. Cannon did the right thing here. I'm sure that he didn't like it but it was the right thing to do.
Rob and Jim should be ashamed at themselves playing election year politics with this issue.
Be careful what you wish for guys - you just might get what you're asking for. Like it or not.
I haven't spoken with anyone over the past few days that thinks that was a perfect bill but I have also heard from all involved that something has to happen. You that called up your Member of Congress and threw a fit don't understand what's happening here. I just hope that when small businesses aren't able to make payroll, your 401k is losing money, products aren't on shelves, and banks' doors start closing that you remember how you screamed and yelled. Cannon did the right thing here. I'm sure that he didn't like it but it was the right thing to do.
Rob and Jim should be ashamed at themselves playing election year politics with this issue.
Be careful what you wish for guys - you just might get what you're asking for. Like it or not.
Ignorance | 8:52 p.m. Sept. 29, 2008
This crisis is about investor confidence, not fundamentals. The fundamentals
are there but when everyone panics and make runs on the banks we are only going
to poise ourselves for the next Great Depression. Lets pull ourselves together
and get this bill done. Shame on Bishop and Matheson for caring more about
their political careers than what is right. They have just lost my support
forever.
cowardly/ignorant | 9:00 p.m. Sept. 29, 2008
Cowardly congressmen listening to ignorant of economics fools just brought our
country past the edge and into a very deep recession, deepest since the Great
Depression, which lasted 10 years.
This day will be remembered as a tragic turning point in American economic history. Bush has destroyed the dollar, spent us into bankruptcy with his lunatic Iraq adventure, and now isn't even trusted by his own party, even in deepest Red Utah.
How have the mighty fallen, asks the Bible. By ignorance, cowardice, and stupidity, is my answer.
This day will be remembered as a tragic turning point in American economic history. Bush has destroyed the dollar, spent us into bankruptcy with his lunatic Iraq adventure, and now isn't even trusted by his own party, even in deepest Red Utah.
How have the mighty fallen, asks the Bible. By ignorance, cowardice, and stupidity, is my answer.
Better bailout | 9:19 p.m. Sept. 29, 2008
Let's see 777 billion divided by 333 million citizens.
Gee, $11,666 for my family of five. If they have to give out billions of dollars, I think the economy would be much better off giving it back to the taxpayers instead of taking it from us.
Thank you Congress for listening to us the people, the experts. Keep it real and don't bail out the crooks. Finally our economy can return to a point where the American dream can live again. Imagine buying a house or starting a business without huge amounts of debt. The liberal socialists have conspired to keep us all in slavery to debt and to the government. The American dream has been dead because the barriers to entry became too high. Time to reset and let real, robust growth come in after a quick and somewhat painful reset to reality.
Gee, $11,666 for my family of five. If they have to give out billions of dollars, I think the economy would be much better off giving it back to the taxpayers instead of taking it from us.
Thank you Congress for listening to us the people, the experts. Keep it real and don't bail out the crooks. Finally our economy can return to a point where the American dream can live again. Imagine buying a house or starting a business without huge amounts of debt. The liberal socialists have conspired to keep us all in slavery to debt and to the government. The American dream has been dead because the barriers to entry became too high. Time to reset and let real, robust growth come in after a quick and somewhat painful reset to reality.
Anonymous | 9:30 p.m. Sept. 29, 2008
I'm interested to see what you'll be posting when your 401k's
have disintegrated and you can't get any loans for your businesses. Do we
really trust congress more with our money than the foremost financial
authourities in the world. ie. Paulson and Bernanke. Congress hasn't the
slightest idea how the financial world works and if you're not convinced
look how they've managed your money the past eight years. People
don't understand the magnitude of this crisis, without serious intervention
this liquidity crisis will take years to overcome. Don't forget that our
economy pushes the world's economy so in turn this could potentially be a
world wide financial crisis. I'm disgusted by the inaction of congress.
dave4197 | 9:50 p.m. Sept. 29, 2008
Clueless idiots from both parties voted this bill down. We'll all suffer
losses, paper or real, for a while now, and we'll all have financial
problems related to this kindergarten behavior by congressmen.
Anonymous | 10:10 p.m. Sept. 29, 2008
So, Matheson has become the type of democrat who would plunge his country into a
depression to help his party get votes. And Bishop is willing to do the same to
prove to the likes of Sean Hannity that he is a "real conservative."
Well, enjoy your depression folks. And remember who to blame on Nov 4.
Anonymous | 10:20 p.m. Sept. 29, 2008
That proves it. Judging from the letters sent to congressmen in Utah, there are
100 dumb Americans for every smart one. All of you vindictive people who are
afraid of giving a boost to the economy for fear of helping a few individuals
who don't deserve it, deserve the giant recession that your are most
assuredly going to get. Have fun sinking the ship you are riding on. This is
the ultimate economic example of cutting your nose off to spite your face.
Also, the misguided people who fight the proposal in the name of being budget hawks are going to have a fun time trying to pay down the national debt with or without whatever amount of money spent on the bailout(or that subset that cannot be recouped in the long term) when recession eliminates any hope of surpluses in the immediate future.
Also, the misguided people who fight the proposal in the name of being budget hawks are going to have a fun time trying to pay down the national debt with or without whatever amount of money spent on the bailout(or that subset that cannot be recouped in the long term) when recession eliminates any hope of surpluses in the immediate future.
Common Sense | 10:35 p.m. Sept. 29, 2008
At least 2 of the 3 had some common sense. No one is offering to bail out my
Utah company... Stupid business decisions don't deserve a reward.
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