700 Billion Buy out plan defeated.....

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House Speaker Nancy Pelosi paid her husband's real estate and investment firm nearly $100,000 from her political action committee over the past decade, a practice that she voted to ban last year and that her party condemned as part of the "culture of corruption" when Republicans did it.

The Washington Times is reporting that the California Democrat's husband, Paul F. Pelosi, owns Financial Leasing Services Inc., which has received $99,000 in rent, utilities and accounting fees from the speaker's "PAC to the Future" over the PAC's nine-year history.
 
It's funny how you guys are looking for dirt on individual members. Chances are, you'll find them. Personally, I admit there's no escaping the need for the bailout. But, the way it's being rammed for approval is reminiscent of how the Iraq plan was rammed for approval.

On a lighter note, here's a grassroots email that I'm helping pass around:

+++++++++++++++++++
This is so ridiculously simple that it actually makes sense......................................
____________________________________________________



I'm against the $85,000,000,000..00 bailout of AIG.



Instead, I'm in favor of giving $85,000,000,000 to America in

a "We Deserve It Dividend".



To make the math simple, let's assume there are 200,000,000

bona fide U.S. Citizens 18+.



Our population is about 301,000,000 +/- counting every man, woman

and child. So 200,000,000 might be a fair stab at adults 18 and up..



So divide 200 million adults 18+ into $85 billion that equals $425,000.00.



My plan is to give $425,000 to every person 18+ as a

"We Deserve It Dividend".



Of course, it would NOT be tax free.

So let's assume a tax rate of 30%.



Every individual 18+ has to pay $127,500.00 in taxes.

That sends $25,500,000,000 right back to Uncle Sam.



But it means that every adult 18+ has $297,500.00 in their pocket.

A husband and wife has $595,000.00.



What would you do with $297,500.00 to $595,000.00 in your family?

Pay off your mortgage – housing crisis solved.

Repay college loans – what a great boost to new grads

Put away money for college – it'll be there

Save in a bank – create money to loan to entrepreneurs.

Buy a new car – create jobs

Invest in the market – capital drives growth

Pay for your parent's medical insurance – health care improves

Enable Deadbeat Dads to come clean – or else



Remember this is for every adult U S Citizen 18+ including the folks

who lost their jobs at Lehman Brothers and every other company

that is cutting back. And of course, for those serving in our Armed Forces.



If we're going to re-distribute wealth let's really do it...instead of

trickling out a puny $1000.00 ( "vote buy" ) economic incentive that is

being proposed by one of our candidates for President..



If we're going to do an $85 billion bailout, let's bail out every adult U S
Citizen 18+!



As for AIG – liquidate it.

Sell off its parts.

Let American General go back to being American General.

Sell off the real estate.

Let the private sector bargain hunters cut it up and clean it up.



Here's my rationale. We deserve it and AIG doesn't.



Sure it's a crazy idea that can "never work."



But can you imagine the Coast-To-Coast Block Party!



How do you spell Economic Boom?



I trust my fellow adult Americans to know how to use the $85 Billion

"We Deserve It Dividend" more than I do the geniuses at AIG or in Washington
DC.



And remember, The Buddy plan only really costs $59.5 Billion because $25.5

Billion is returned instantly in taxes to Uncle Sam.
 
Might want to check out the math before passing along that email, as the amount is actually only $425.00 per person and not $425000.00. Also, AIG is paying 11% interest on that money.
 
Yeah, that email, or it's contents, has been discredited in almost every aspect. Sounds good oonly on the surface, but does nothing to solve the big picture
 
It's funny how you guys are looking for dirt on individual members. Chances are, you'll find them. Personally, I admit there's no escaping the need for the bailout. But, the way it's being rammed for approval is reminiscent of how the Iraq plan was rammed for approval.

On a lighter note, here's a grassroots email that I'm helping pass around:

+++++++++++++++++++
This is so ridiculously simple that it actually makes sense......................................
____________________________________________________



I'm against the $85,000,000,000..00 bailout of AIG.



Instead, I'm in favor of giving $85,000,000,000 to America in

a "We Deserve It Dividend".



To make the math simple, let's assume there are 200,000,000

bona fide U.S. Citizens 18+.



Our population is about 301,000,000 +/- counting every man, woman

and child. So 200,000,000 might be a fair stab at adults 18 and up..



So divide 200 million adults 18+ into $85 billion that equals $425,000.00.



My plan is to give $425,000 to every person 18+ as a

"We Deserve It Dividend".



Of course, it would NOT be tax free.

So let's assume a tax rate of 30%.



Every individual 18+ has to pay $127,500.00 in taxes.

That sends $25,500,000,000 right back to Uncle Sam.



But it means that every adult 18+ has $297,500.00 in their pocket.

A husband and wife has $595,000.00.



What would you do with $297,500.00 to $595,000.00 in your family?

Pay off your mortgage – housing crisis solved.

Repay college loans – what a great boost to new grads

Put away money for college – it'll be there

Save in a bank – create money to loan to entrepreneurs.

Buy a new car – create jobs

Invest in the market – capital drives growth

Pay for your parent's medical insurance – health care improves

Enable Deadbeat Dads to come clean – or else



Remember this is for every adult U S Citizen 18+ including the folks

who lost their jobs at Lehman Brothers and every other company

that is cutting back. And of course, for those serving in our Armed Forces.



If we're going to re-distribute wealth let's really do it...instead of

trickling out a puny $1000.00 ( "vote buy" ) economic incentive that is

being proposed by one of our candidates for President..



If we're going to do an $85 billion bailout, let's bail out every adult U S
Citizen 18+!



As for AIG – liquidate it.

Sell off its parts.

Let American General go back to being American General.

Sell off the real estate.

Let the private sector bargain hunters cut it up and clean it up.



Here's my rationale. We deserve it and AIG doesn't.



Sure it's a crazy idea that can "never work."



But can you imagine the Coast-To-Coast Block Party!



How do you spell Economic Boom?



I trust my fellow adult Americans to know how to use the $85 Billion

"We Deserve It Dividend" more than I do the geniuses at AIG or in Washington
DC.



And remember, The Buddy plan only really costs $59.5 Billion because $25.5

Billion is returned instantly in taxes to Uncle Sam.

CalculatorFAIL.jpg
 
It's funny how you guys are looking for dirt on individual members. Chances are, you'll find them. Personally, I admit there's no escaping the need for the bailout. But, the way it's being rammed for approval is reminiscent of how the Iraq plan was rammed for approval.

On a lighter note, here's a grassroots email that I'm helping pass around:

+++++++++++++++++++
This is so ridiculously simple that it actually makes sense......................................
____________________________________________________



I'm against the $85,000,000,000..00 bailout of AIG.



Instead, I'm in favor of giving $85,000,000,000 to America in

a "We Deserve It Dividend".



To make the math simple, let's assume there are 200,000,000

bona fide U.S. Citizens 18+.



Our population is about 301,000,000 +/- counting every man, woman

and child. So 200,000,000 might be a fair stab at adults 18 and up..



So divide 200 million adults 18+ into $85 billion that equals $425,000.00.



My plan is to give $425,000 to every person 18+ as a

"We Deserve It Dividend".



Of course, it would NOT be tax free.

So let's assume a tax rate of 30%.



Every individual 18+ has to pay $127,500.00 in taxes.

That sends $25,500,000,000 right back to Uncle Sam.



But it means that every adult 18+ has $297,500.00 in their pocket.

A husband and wife has $595,000.00.



What would you do with $297,500.00 to $595,000.00 in your family?

Pay off your mortgage – housing crisis solved.

Repay college loans – what a great boost to new grads

Put away money for college – it'll be there

Save in a bank – create money to loan to entrepreneurs.

Buy a new car – create jobs

Invest in the market – capital drives growth

Pay for your parent's medical insurance – health care improves

Enable Deadbeat Dads to come clean – or else



Remember this is for every adult U S Citizen 18+ including the folks

who lost their jobs at Lehman Brothers and every other company

that is cutting back. And of course, for those serving in our Armed Forces.



If we're going to re-distribute wealth let's really do it...instead of

trickling out a puny $1000.00 ( "vote buy" ) economic incentive that is

being proposed by one of our candidates for President..



If we're going to do an $85 billion bailout, let's bail out every adult U S
Citizen 18+!



As for AIG – liquidate it.

Sell off its parts.

Let American General go back to being American General.

Sell off the real estate.

Let the private sector bargain hunters cut it up and clean it up.



Here's my rationale. We deserve it and AIG doesn't.



Sure it's a crazy idea that can "never work."



But can you imagine the Coast-To-Coast Block Party!



How do you spell Economic Boom?



I trust my fellow adult Americans to know how to use the $85 Billion

"We Deserve It Dividend" more than I do the geniuses at AIG or in Washington
DC.



And remember, The Buddy plan only really costs $59.5 Billion because $25.5

Billion is returned instantly in taxes to Uncle Sam.

 
It's good to know that there were banks who did not get sucked into this mess, and that there are people out there who have good reason to believe that the sky is not actually falling. It may be falling for the people who screwed up, but really, that's between them and their sky. People who did not participate in their mistakes have no obligation to save them from themselves.

Shifting the bailout burden to the innocent will make it harder (if not impossible) for the people who knew better to move to the forefront of the industry, and correct the damage done by the guilty.
 
I'm just glad they didn't rush the bailout, and are taking their time with this issue. No need to put us into such an enormous bind like that, if they haven't made sure that it's not going to screw things up for the little guy or promote idiocy at those levels of business.
 
Senate passed the revised bill - although it's anything but a done deal for the House vote on Friday.

Unfortunately rushing is necessary or we'll have more Wachovia's and Washington Mutual's and AIG's and Lehman's. Wait long enough and the only wait we'll be worrying about is the unemployment line and the bread line.
 
Dave, did you miss the conversation on fearmongering? Only Republicans can do that. :nono

Nope, fearmongering is for everyone! And besides, I'm terrified - I really don't want to see a lot more of those 777 down days.
 
Just remember to breathe, man. I'm not convinced that a bailout will put an end to all this. The fear bunny still has a lot of eggs in that basket. :lol
 
Nope, fearmongering is for everyone! And besides, I'm terrified - I really don't want to see a lot more of those 777 down days.

I agree with you Dave. We are not out of the water yet. Hopefully the fear will keep the politicians looking at their decisions with a fine tooth comb and not jump to rash decisions that could make things worst.
 
It took us years to get into this mess and it'll take us longer to get out of it. I don't see anything in the newly Senate-passed "rescue" plan that helps me any. And all of that added pork spending isn't convincing me any that the House should pass this.

At this point, the only thing I know how to do to help myself is to pay off my debts and save money. That way if the bottom drops out, then I've got some sort of a cushion.
 
It may be falling for the people who screwed up, but really, that's between them and their sky.

If only it worked that way. Liquidity in the market is essential for commerce. The heads of AT&T and Microsoft this week have both noted their access to revolving credit and their ability to issue paper to fund operations have been crippled. This is something that could have immense repercussions everywhere along the value chain.

It's all well and good to take an amoral approach as an academic exercise, but I'm pretty sure everyone who went through the Depression would have rather seen the scoundrels bailed out instead.
 
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