Reader comments
Bush signs $700 billion rescue

Lew Jeppson | 1:02 a.m. Oct. 4, 2008

As Gore Vidal said, socialism for the rich, free enterprise for the poor. The questions are legion. What kind of economic system do we have? Will this work? Workers bail out capitalists, so what do workers get in return, other than slowing down an economic train wreck? What if this bailout doesn't work, what then? If it doesn't work, will we be worse off than without the bailout? Why should we believe the authors of this who have been so consistently wrong? Is our economic theory up to the task? This is a crap shoot.

While we're pampering Wall Street I suggest we rub off of the books a lot of union-busting legislation as a kind of thank you to labor.

Fran | 1:03 a.m. Oct. 4, 2008

Thank goodness. Now the country can be saved. I'm glad they're going to do bipartisanship and reign in wallstreet and the fat cats.

awesomeron | 3:56 a.m. Oct. 4, 2008

Most of Main Street did not want a Bail Out. The Country would have been just fine with out one.

I do not think that this gets Joe and Mary Hum Drum their jobs backs. Their Cubicles will be empty for a long time and the bubbles of the Water Cooler Silent.

Remember Wall Street is mostly made up of folks from Main Street.

America is what it is today because of Fat Cats that took chances and built a Nation from Sea to Shining Sea. The Rich make jobs for the rest of us.

America is a place that you can come from No Where and become rich. Sometimes you can do it by buying Microsoft when its $6 a share. Or Wal-Mart when its $20 and watch it split at around $50 a share, not once but 8 times.

So Thank you Mr. Jobs and Mr. Gates, and Mr. Allen, and Mr. Sam Walton, and Mr. Sears and Mr. Roebuck. and lets not forget Mary Kay and her Pink Cadillac.

I do not like or want this little trip into socialism. Socialism is Not A Good Thing. We are not all equal or the same.

Comments continue below

Anon 808 | 4:19 a.m. Oct. 4, 2008

There is no such thing as Goodness. There is God and you can thank God if you want. Goodness is Not a Holy Entity. There is No Magic Dust. The Tooth Fairy and Santa Claus are directly connected to your bank account and Credit Card. If the Mall is out of business, I can make toys. Blocks, Jigsaw Puzzles, things like that. America is Great, and will be Great Before, Great still after this Bailout and I assume others.

I pray every day that Obama is NOT elected President of the United States of America, I fear for America and the Direction it will take. I fear mostly for the Unborn Children, our Borders, our Interests in other parts of the World. China being allowed to go into Outer Space. Our relationship to God, Our Basic Freedoms and other issues.

Mostly My Heart is with the Unborn. To Stop the Genocide against a Class of People.

Wall Street and the unwanted Bailout is a minor issue compared to our other issues. A diversion sort of.

Tomorrow is Conference now its bedtime. 6AM comes early.

Joseph Atwater | 5:08 a.m. Oct. 4, 2008

"Theres a Fool born every minute". Now watch as the Recession takes hold and eats away the 700 Billion dollars in a matter of time...a short time. Another crash at Wall street with no money left to bailout the additional crashes that will follow. The politicians, especially the Republicans will rub their hands and say " thank you very much for the bailout money, we needed the $$$$ to fill the hole in our pockets". As Hugh Nibley said so many times" Hypocrisy and greed are the God of this state (Utah)

Dufus | 5:11 a.m. Oct. 4, 2008

Even in normal times pork barrel spending is unacceptable, but in times like this it is absolutely irresponsible of congress. I wish there was a way to clean house and start over. Get rid of the coalitions and 'good old boy' system. Congress needs to do what's right for a change.

Now what? | 7:18 a.m. Oct. 4, 2008

How are they going to measure saving the economy? What if it doesn't work? Did they work in a money back guarantee with Wall Street?

You'd Hope | 7:29 a.m. Oct. 4, 2008

You'd hope that our Utah Congressional delegation would show more wisdom and backbone . . . stand up against the needless debt, haste, and fearmongering.

Neither Senator did, nor did our senior Congressman Cannon (thank goodness we already threw him out in the Primary).

Very impressed that both Matheson and Bishop had the courage to stand against this bill.

Freedom | 7:53 a.m. Oct. 4, 2008

Goodbye Constitution....Welcome Fascism!

Bailout Barney | 8:06 a.m. Oct. 4, 2008

Cost of the bailout: Infinity and beyond
Cost of Bill O'Reilly's pas de deux with Bailout Barney: Priceless!!

L K Hyde | 8:38 a.m. Oct. 4, 2008

Losers rewarding losers for not living within a budget. What about the people and companies that don't live on credit, or only live on the credit they can afford. When are they going to be recognized? I have already read articles about how this probably isn't enough money. So what do the losers in congress do now reward the losers with more of the hard working peoples money?

Honesty | 8:59 a.m. Oct. 4, 2008

How does incurring more debt and devaluing the dollar further rescue anything?

This has actually made things worse in the long run.

All to avoid a little present pain.

LIES | 9:02 a.m. Oct. 4, 2008

Why did they lie about supporters? Why aren't they telling us that this is just the latest and greatest corporate welfare scheme ever devised? Akin to the New Deal? What don't you people understand about fascism? The New Deal was the thing that kept the economy from recovering.

This is the Twilight Zone. Does nobody study the real America's Great Depression?

Fed up | 9:05 a.m. Oct. 4, 2008

"We should be ashamed to face our children, what with the burdens we leave them."

Nowhere in this story do you mention that at least Congressmen Jim Matheson and Rob Bishop had the guts and integrity to vote against it.

This bloated, pork-laden atrocity is a monument to the greed and stupidity of every member of Congress who voted for it. NONE of them should be re-elected! Chris Cannon is on his way out, good riddance! Hatch and Bennett should be run out of town on a rail, and should never be nominated for another term!

It was bad enough, but which lying politicians are man or woman enough to claim credit for adding this unrelated pork:
* Manufacturers of kids' wooden arrows - $6 million.

* Puerto Rican and Virgin Islands rum producers - $192 million.

* Auto-racing tracks - $128 million.

* Corporations operating in American Samoa - $33 million.

* Small- to medium-budget film and television productions - $10 million.

Perhaps Hatch, Bennett and Cannon will at least ID the guilty parties who added this pork?

Bailout won't work | 10:46 a.m. Oct. 4, 2008

I doubt this bailout will work: the problems with our economy are too deep. $700 billion might have worked to help us with healthcare, a national railway system which works, a better grid system so CLEAN and RENEWABLE energy system--with wind and solar power can restart our economy. But this is throwing good money after bad. It won't help the low income people on the street. The bill was born of panic and fear, put together too fast. We need to think long term, and stop exporting debt. Thanks to Jim Matheson and Bishop for Not voting for this bill.

Carl | 12:35 p.m. Oct. 4, 2008

Thanks President Bush. You've pretty much spent us into oblivion and ruined our credibility both abroad and at home. Your parents must be proud!

STEVE-O | 2:03 p.m. Oct. 4, 2008

Everyone can share the blame for this mess. The Banks all had bad lending practices. Many people bought above their means, and live off plastic cards. The cards run out and they declare Bankruptcy. The Banks are now declaring Bankrupcy on a LARGE scale.
I'll just go on living within my means, avoiding debt, and working hard.
It doesn't help to pull all your money out of the Bank or Stock Market. The more we panick the worse it gets. The Market has plunged before and it always comes back up. I trust the same will take place in this case... it just might take a little longer than usual.

Expat | 3:37 p.m. Oct. 4, 2008

Considering that a large majority of the public was strongly against this bailout, I have great difficulty is continuing to believe that our "elected representatives" are "representing" us at all. As the cynical old saying goes "The definition of an honest politician is one that STAYS bought".

Observer II | 3:52 p.m. Oct. 4, 2008

Let us stipulate we do not think it necessary for even U.S. Senators to understand the internal mechanics of credit default swaps and collateralized debt obligations. But if we have learned anything amid the panic over Bear, Lehman, Merrill and adventures in naked short-selling, it is that rumors can obliterate economic value, instantly. The SEC has been issuing subpoenas for an investigation into rumor-driven market manipulation. Of course, Harry Reid stood up in broad daylight to talk about a troubled insurer "with a name that everyone knows," so his contribution was merely obtuse. And predictably destructive. The steep drop in the share prices of insurance companies Thursday destroyed wealth for uncounted middle-class investors holding onto stock in companies still considered healthy. Some analysts said Senator Reid's remark didn't produce the entire sell-off in insurance stocks, just some of it. Markets were also under downward pressure from uncertainty about the financial-markets legislation in Congress. Still, did Mom and Pop shareholders of Met Life, Hartford or Prudential need Senator Reid belly-slamming onto their already fragile assets?

Vote 4 McCain and Sarah November 2008 folks.

Why we NEED McCain and Sarah | 3:54 p.m. Oct. 4, 2008

It calls to mind Senator Chuck Schumer's public suggestion in July that troubled IndyMac Bank "could face collapse." It did, after a deposit run. Senator Schumer said criticizing his action was akin to blaming "the fire on the guy who called 911." The nation's shareholders would sleep better at night if some Members of Congress enrolled in Arsonists Anonymous.

Marie Devine | 7:39 p.m. Oct. 4, 2008

Credit, debt and insurance are against God's guidance. We are told not to be surety (insurance) for anyone and not to get in debt. With this guidance we know that bailouts will not solve the problem.

Our banking loan system and insurance institutions have led us into much bondage, (because of the ease of living on borrowed money,) We have powerful military weapons and wars, energy crisis, pollution, disease, and higher costs on most things we buy and do. People bought and sold before these institutions without the added costs and they can do it again.

If we want the true freedom God wants for us we will need to turn from our oppressive system to creating a retirement system with a garden paradise; that solves all world problems at the same time. God has gone before us and provided the way. If you want it, pray for it and turn to it and vote for it when you see the way open. Only believe God's promises, not the deceptions of an ungodly culture.

kelly | 11:02 p.m. Oct. 4, 2008

Repored tonight on FNN top recipiants of money from Fanny may and Freddie mac-#1 Dod #2 Obama and look who is #3, our own Bob Bennet! Sure would like some answers Bob before we send you Packing!

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Bush signs $700 billion rescue

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Reader comments Bush signs $700 billion rescue

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Bush signs $700 billion rescue