Comments about ‘Senate OKs $700 billion bailout’

In large part labor is being asked to bail out capital. Well, OK, I guess we have been talked into it. But what does labor get in return? Labor should demand that all anti-union laws be repealed including Taft-Hartley. Labor is expected to be a good support and take it in the pants. Well, I'm having none of it. So how 'bout it, Utah Congressional delegation? We're going to bail out capital, how about a little consideration for labor?

We got what we voted for-corrupt thieves on BOTH sides stealing from the middle-class one last time before we mindlessly vote them back into office in November. The numbers keep getting bigger because we NEVER VOTE THEM OUT NO MATTER WHAT THEY DO TO US!

Here in Utah we will do well financially keeping our local politicians. BUT VOTE OUT EVERY FEDERAL POLITICIAN THROUGHOUT THE COUNTRY!!! DO NOT LET THEM GIVE ANY MORE OF OUR MONEY TO THE EASTERN WALL STREET FAT CATS who have BOUGHT THEIR SOULS!!!

They have proven time and time again the only real issue is money. Nothing else matters in Washington. So use your head and realize the middle-class from either side will only get power back if we together get rid of these traitors to middle-class Americans.

What a ridiculous piece of legislation! I am ashamed that our two senators from Utah thought it fit that we as taxpayers should bear the burdens of Wall Street's mistakes! That was one small vote for Congress, but one large step towards Socialism.

Nowhere in this article do I see that the Senate has included a repeal of the Community Reinvestment Act or the National Homeowners Initiative..Both of which started the current problem by making easy money available for high risk loans. Couple these with the penalties against Banks and other lenders who didn't follow the Congressional guidelines for granting these high risk loans.

Without repeal of these measures, we can expect the problem to continue..this is only a "band-aid" approach..an expensive one..without any real solution.

The Constitution states that all spending bills must start in the House. I called Bennett's office and they told me this wasn't a spending bill. Both our senators swore to protect and uphold the Constitution and I am calling them both liars. Please, don't reelect these guys. They are destroying our country. Can people see yet why Presidents McKay and Benson warned us against Communism?

Our dear country is in a mess and I don't know how this huge bailout is going to help. It should have never happened. The government should not have encouraged the loan companies to give loans to the unqualified and the loan companies should not have let it happen, knowing that this day would come. It all comes down to the congessmen and senators wanting votes and the loan companies just thinking about profits. We, the people who know how to budget our money and live honest, good lives, are now going to have to repay this loan. Bad news!

Just like the cereal makers, all the legislators know is to sweeten the pot, untill the people buy the product.
I had hoped the law makers were begining to learn a lesson from the past defeats, but it's not to be I guess. Sweeten anything up enough, and they will buy it.
I thought the idea was to conserve and cut spending? not add to the problem!

Hopefully Representatives Matheson and Bishop will have the courage of their convictions unlike Senator Hatch who could not.

Mommies gunna go ahead and let you have 700 billion today. But that's it. No more. Don't even ask because I'll just say no next time. So I hope you learned your lesson...okay sweetie?

...one year later...

What!? you need another 1.5 trillion? Didn't I say you couldn't have anymore? Are you sure you really need it? Well Okay, just this one time...

We need to fire them all in the name of our grandchildren and great grandchildren. this is the public drunkard having a field trip to the winnery.

the government spends to much. the government owes too much and now we owe more. we do not have the tax base to spend more. this will necessitate much higher taxes, will not help liquidity for more than a few months and maybe a year or two as long as the real coulperate "fair housing" and mark it at current market accounting continues.

at best this is a short term election year ploy to get reelected. the senate has always acted in it own best interest country be damned for the most part.

kudos to the house. both the democrats and the republicans who voted no. I hope that they send this drunken bill to a watery grave.

Kudos to Rep Bennett for voting no and thank you for my grand children's and great grand children's sake.

I hope we are not seeing the beginning of Joseph Smith's prediction that in the laster days the government would destroy the constitution of the the United States.

It's time for both of our Senators to retire!!!

Does anyone remember the PANAMA CANAL giveaway?then let me remind you.the majority of the senate that voted for that giveway of our property went down in defeat the very next election.we can repeat that citizen action this election by defeating these so called defenders of our country by taking them down that road too defeat.THROW THE BUMS OUT!!!

The Federal Reserve is busy handing out cash (electronically) by the dump truck load, to "pump" liquidity back into the banking system. In just the last 10 days, they've made "emergency loans" to American banks that have exceeded $1.2 Trillion, and there is no end in sight. The end result of all of this "bailing" and "pumping" will be the inevitable monetization of mountains of public debt. There is no way to generate tax revenues to cover even a fraction of it, so, the requisite "dollars" are being created out of thin air. This will of course dilute the value of the dollars already in circulation. So, sooner or later, mass currency inflation will be the end result. I predict that if this monetization goes on unchecked for long enough, it will result in a hyperinflationary death spiral for the US Dollar.

Government just refuses to listen to the people. The only way to get their attention is for everyone with a 401K or investment retirement account should roll it over to long term CD's or tangible assets. Then ask for and demand pay raises that we should have been getting during all the economic growth. Workers should demand more job benefits and job security and some paybacks for supporting and aiding corporate america during thier fleecing of americans. We need to make more demands to rid this country of illegal aliens taking ameircan jobs, not paying taxes, and subverting the american way of life. These illegals have given america nothing but headaches and pain our entire lives and its time we demand action to deport with prejudice. Including their children and families. Who is to benefit with more excessive credit? Americans have learned we can't live on borrowed and expensive credit. Consumers have been hit with reality and woke up. There are no regulations or controls attached to this bailout so we continue to feed a broken financial system. Investment type retirement accounts doom the working class and they will retire getting pennies on the dollar.

The fat cats will remain fat!!!

Congress:

IF you really want to do something constructive for our economy, consider this approach: Give every citizen, whether, man, woman, or child, in this country a million dollars. They would spend much of it within a few weeks and this consumer driven spending spree would lift our economy out of the doldrums

Want to enhance the process even more? Require that this money, if immediately spent, be spent on American made goods! Think of the boost to our economy if our businesses were being asked to manufacture these goods. Employment would drop to zero overnight! Undoubtedly, the balance not promptly spent, would be placed in personal bank accounts IN THIS country. The liquidity provided by this would eliminate the banking industry's problems overnight as well. It is a win-win situation all around!
Further, doing this would only cost the taxpayer about $325 million or so, NOT the unverified, and presently unlimited $700 Billion or more of the present bailout scheme. And, my suggestion has a definite limit on its cost, while the present Wall Street bailout has no known or expressed limit and is essentially a blank check.

Why would I want to spend money on junk made in a America? Besides, how much of the "American" companies stuff is actually made in America? Do you think all Ford, GM and Chrysler cars are made in America? The finished product may be assembled here, but the cars and trucks are assembled in the US with foreign made components. On the flip side, most "foreign" cars are built here as well. Toyota, Nissan, Honda and Suburu (to name a few) all have factories here in the US, and are considered made in the USA.

No, your argument does have some valid points, but I think giving money to the rich is the way to go. Bail out the rich is the American way!

I get a kick out of your rantings on this subject, especially when I think back to visiting my family in Utah two summers ago. The housing market was hot and everyone was talking real big. I tried to warn them that it was all artificial, but the response from every man, woman and child I spoke to there was, "no, not here, Utah is special."

Trying to help my daughter buy a home there, we gave up. The sellers were incredibly greedy and our realtor told us the market was so hot we'd have to put a bid in for a home without seeing it.

Everyone was driving brand new gas-guzzling SUV's and pick ups (why does an accountant need a lifted Ford F350?) that they bought at the "employee discount" being offered by GM and Ford.

There was a mad scramble to move further up the hill into bigger and bigger homes.

Utah reaped the benefit of higher home prices, artificially propped up by what we knew then, and know now, was a relaxing of credit rules to qualify more folks for more house.

Please stop pretending not to have been part of this.

I am amazed at how short-sighted all these comments are...this bailout is not a bailout of Wall St, but of Main St. Many of the companies you all work for depend on the so-called Wall St. banks and such, and without the funding provided by these banks, many of you stand to lose your jobs.

The bailout is not a bailout of the banks, but is intended to keep the banks from failing, and to loosen the credit markets, which have all but vanished the past few weeks. Many solvent and successful companies are struggling right now because their lines of credit have been frozen. Many businesses rely on these lines of credit to float loans and expenses, and without the line of credit, they may be forced to let people go. Businesses are cyclical, and these short term lines of credit allow business to run smoothly and without interruption.

So, yes, while this may seem like a bailout of the rich, it is actually intended to keep many businesses in the country afloat, and many of us employed.

Before making uneducated comments, read a bit about what the actual bailout is for.

Its beginning to take over the United States. The bailout, then the Healthcare system, then the auto industry, then the airlines. Where does it end. I dont like either candidate, but Obama is going to speed up the process of socialism, while the other candidate will be lucky to survive the next 4 years, literally. Its a sad day in our nations history when these are the only 2 candidates to choose from.