Joho the BlogPublic comment on bail-out bills - Joho the Blog

Public comment on bail-out bills

PublicMarkUp lets you — yes, you — comment on the Paulson and Dodd proposals…

[Tags: ]

25 Responses to “Public comment on bail-out bills”

  1. Instead of bailing out by buying the failed debt,
    insert liqidity by having the federal reserve provide large loans to banks that are not about to go under.
    It seems to be less socialistic and more palatable.

  2. Think about this seriously!!

    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
    bonafide 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 billon 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 Birk plan only really costs $59.5 Billion because $25.5 Billion is returned
    instantly in taxes to Uncle Sam.

    Ahhh…I feel so much better getting that off my chest.

    PS: Feel free to pass this along to your pals, or your congressman / senator, as it’s either good for a laugh
    or a tear or a very sobering thought on how to best use $85 Billion!!

  3. All lawmakers who vote for the Bailout should be run out of office. Why did they only meet with Wall St. people who helped caused the mess in the first place? Naturally, they (Poulson & others) want to be bailed out and influenced the decision. Why did Bush and Senate committee not meet with top economists who have no conflict of interest? Hello… hello..

  4. Many thanks to Nicole, the first poster, for “doing the math.” Now, how about that? Think about it – the bailout amounts to several hundred thousand per family. Is there any possible way in which the bailout would have benefitted all of us to this extent? I, for one, would be set for life! I’m glad the lawmakers saw it for what it is, more “Trickle Down” nonsense. Hasn’t this theory been shown to be a utter lie to make the rich richer while convincing the working stiffs that it’s good for them, too?

  5. Huzzah for Nicole! I have already emailed your proposal to everyone I know. The next step is the formation of a grass-roots political movement to only vote for candidates that support the ‘We Deserve It’ dividend. We can sign up everyone who isn’t registered with a concept like this! That’s 32%, and if half the registered voters are smart enough to do what corporations like AIG do, i.e., vote based on their own self-interests, we’re home free!

  6. If they sent each US Citizen / Resident a check, that is 700 billion divided by 305,000,000 – the latest census of the United States, each would receive approx $2,295.00 – that is two thousand, two ninety five !!! I say bail each of us out individually before we lose our investments, retirements, homes to the bloated out of touch……its a thought

  7. Not my idea but a great one…..

    On Jay Leno tonight Actor Russell Crowe’s easy answer to the US problem.

    Need to stimulate the economy? Give $1million dollars to each US citizen. Population around 300 million. That takes $300million instead of BILLIONS and everyone is happy and spending!

  8. sorry Zivka but that is alot more than $300million, sorry to burst your bubble. The way I look at it is if it cost me and my family $2,300 to do my part in insuring we dont see another Great Depression then so be it. Yes the banks screwed up by giving bad loans (which some of you were probably the beneficiaries of) but if these major banks crumble to the ground then the world’s economy will resemble that of the early 1930’s during the Depression. Just my .02

  9. I don’t see why the Democrat’s don’t practice what they preach. If they are for Main St. and not Wall St., why not give the money to Main St. and let it “trickle up” instead of “trickling down”?

    They could use the same method they used to pull us out of the Great Depression – put people to work on rebuilding our infracstrucure (which is badly needed) and at the same time provide jobs to Main St.

    Why do they say they are for Main St. and then stand behind a Wall St. bailout?

    Makes no sense to me and I think the Dems are losing their economic prestige by backing this bill.

  10. If McCain or Obama vote Yes on this GIANT NEW BAILOUT TAX to help thier rich friends avoid the consequences of buying stupid NINJA loans then I will not vote for either of these guys for the Presidential election.

    The idea that the government thinks that the American people will allow them to buy all these bad loans is ridiculous. If this vote passes you can pretty much count on the bankruptcy of America and the emergence of the WORLD BANK and ONE WORLD GOVERNMENT.

    No more money for the lendoholic banks. Stop NINJAGATE in it’s tracks. There is no rush!

    Please give the 700Billion to the people – let us keep our money- we need it.

  11. Bail out the U.S. citizens. The guv’ment write a check for $1.5million to every taxpayer in the country — yes, you too. this would cost the guv’ment $375million dollars which is a far cry from $700billion AND we do not own any of those nasty toxic assets.

    Ladies and Gentlemen of the States… Can you just feel the economic impact here?

    Do the math. We stimulate our economy IMMEDIATELY at a relatively inexpensive cost.

    I’m ready to go shopping now, are you?

    The greedy, inept, corporate mongers who have failed businesses will have to do what the average american taxpayer and small businesses have to do. Suck it up and file for bankruptcy. The American worker would walk away with a golden parachute since they have $1.5million in their pockets less taxes, of course.

    We would be pleased but there’s something more here … things are not as they may seem.

    Oh well… we need to shut up and take the hit because we already received our stimulus checks for up to $1000 this year. Not so funny. Whose idea was that anyway? That was simply gas money for a few months or one month’s apartment rent/mortgage.

    God Bless

    Faith

  12. If you were against the bail-out… put your votes to work.
    While both McCain and Obama were in favor of the bail-out, we all have to vote for one of them. I hope we know which of these parties DON’T deserve to be in office.

    However, find out which of your Senate & House representatives voted for it and vote them OUT!
    Please BLOG/disseminate this wherever you can!!

    The following are official US Government legislative sites.

    Senate
    http://www.senate.gov/index.htm
    click “VOTES” and then look for “H.R. 1424”
    http://www.senate.gov/legislative/LIS/roll_call_lists/roll_call_vote_cfm.cfm?congress=110&session=2&vote=00212

    Oh yea… look at 3:29 PM at the top. They adjourned until January 3, 2009 after laying this big fat egg. Apparently they don’t want to hear or see what you have to say. VOTE!!!!

    House
    http://clerk.house.gov/
    Click on Oct 3 2008 under “House Floor Proceedings“
    Search for
    “Roll no. 681” and click on the link
    http://clerk.house.gov/evs/2008/roll681.xml

  13. We need to focus on “un-electing” those Senators and Representatives who voted “yes” for the Bailout. They were willing to ignore the 90% of us who were against the Bailout, clearly demonstrating that they do NOT represent us. Further, the Bailout is not working–and these corrupt companies are using our tax dollars instead to pay for executive bonuses, junkets, and to buy each other out. It’s got to stop–and that mean getting rid of those who voted “yes.”

    A new group called the Constituent Response Team has been working to do just that. 

    CRT has put together a Bailout Vote Map that makes it easy (as a mouse click) to find out how your Senators and Representatives voted. Tell all your family and friends about it, so they can find out how their Representative and Senators voted before they cast their ballot on Tuesday. 

    The Constituent Response Team has also just published pre-customized web banners and ads targeted at those who voted “yes” for the Bailout. You can easily paste these ads onto your website or blog (or social networking site) using simple embedding code (provided off course). (Added benefit: no need to worry about postal regulations or newspaper deadlines!) If your Senator or Congress member voted for the Bailout, a customized web-banner probably already exists to assist you in getting the word out to vote against them.

    If you are interested in either, check out Constituent Response at http://www.constituentresponse.com . The Bailout Vote Map is on the main page; the “Vote ‘no” on incumbents who voted ‘yes'” ads are under the Host CRT Ads link.

  14. Bail out?
    Why “bail out” a company with OUR money? This is now a country where failure is rewarded by massive infusion of capital. Miss-management should not be rewarded but corrected. Have the Board of Directors and CEOs of those companies supposedly in need of a bail out work for no compensation until the company THEY put in the red returns 3 months of being in the black.. Also put a cap on CEO salaries and golden parachutes. No person deserves a salary in the millions.
    A justification of who, how much and what kind of collatoral is being used to recieve our money needs to be generated. Or where did this money come from? This is not a paltry amount (700 B +).

  15. where do you people learn your math????
    300 million people time 1 million dollars DOES NOT equal 300 million????DUH…
    1 DOLLAR TIME S 300 MILLION WOULD BE 300 MILLION…
    Remember 2nd grade math???

  16. I agree with tonyc. Where do you people get your math skills. 85B / 200M = $425.00
    Maybe that’s why these politicians can steal from us and get away with it. No one is counting correctly.

  17. As a Canadian In B.C > It will happen in Canada to.It’s the same as our govt . total denile .. If i was a U.S. citizen,I would be pissed byond believe with these bail out’s .I’ll guarantee no average working persons will gain any insentive from all this (unless u bought a house u can’t afford) your govt sees an easy way to buy these failed corprations for they’re own gain with your hard earned tax dollars ! WHAT will they give the real working people in return?Will they give U a bailout when bills are paid on time ! AHHHH WHEN does it end !

  18. like the others said , some people need to learn simple math.
    you give 100 people- 1 dollar- $100.00
    you give 1,000 people- 1 dollar -$1,000.00
    you give 1,000,000, people- 1 dollar- $1,000,000.00
    you give 3,000,000, people- 1 dollar- $3,000,000.00
    so , simply X’s 300,000,000, people by $1,000,000.00 each.

  19. Привет, я думала что это совсем не так происходит:)

    ——————————————-
    Мой блог: http://lupyrukodelie.blog.ru/

  20. I found this webite during my time of serious need…its the only place I could get a financial bailout. Someone was kind enough to help me. And I’m forever grateful

    They even have live chatrooms with instant messaging..at least you can talk to someone who can relate to your situation…I’ve tried blogs its just not the same. http://www.bailafamilyout.com

  21. It is amazing to me that we are about to bail out the same companies, that because of their greed, made bad loans for cars, homes extended credit. I am blessed in that I still have my job and pay my bills….on time. What is my reward? Chase has decided to increase my APR by 4 points due to “economic conditions”. Not just mine, according toi supervisor Jeanette, everyone holding a Chase cards will see an increase on the March statement. Okay, so let me get this straight, you are trying to get bail out money to cover the loss you incured by making bad decisions, and you are increasing my APR to cover your loss….So I am paying for the bailout with my taxes and with my additional 4 points in interest…..GIVE ME A BREAK! You don’t have to have graduated top of your class to know this is not the math your momma learned.

  22. exciting and communicative, but would be suffering with something more on this topic?

  23. OK you are going to bail out the banks, that in the first place have enough money cause they seem to be doing a good job of kicking people out on their behinds. How is it fair that you give all these banks all this money and still expect the American people to afford their loans and mortgages that they can raise the rates on since they can afford to do so. You have people living in the streets in CA cause the banks kicked them out of their homes. Also AIG that is wrong, we cant afford them now what makes you think that we can afford them when they get money to afford raising rates and stuff. Also what about releasing the prisoner that were involved with the 911 attacks. I dont even want to turn on the TV anymore cause of all this stupid stuff… We are going under… I think Obama has good intentions but he should have kept up with his original plan and not run off course.

  24. The bail out is not going to work as people believe. What the bail out is doing is empowering the banks to put on the financial squeeze to normal hard working people. With out our money they would be under admittedly but what the banks are doing here in Oregon is a crime.

    Example: A friend of mine decided to take part of her savings and pay down a size-able credit card debt just in case things got worse. Bank of America then immediately lowered her credit card limit down to $10,000 which was then maxed out at that figure and then because of her new credit score being reduced because of the maxed out credit card Bank of America then came back at her and raised her credit card interest to 29.5% from a 9%. Bank of America has also Charged my wife and I almost $700.00 in Bank charges because of a debit card that went over momentary due to auto payments and the computer accounts not being updated. We even spoke to the Bank manager and informed her we would be arriving the following morning to put the deposits in to more than cover the amount. Bank of America’s reply when we questioned the amounts said the card was over drawn and they could do nothing about it. Sever of the $35,00 charges were for purchases of $5.00 to $25.00.

    How is a bail out going to work in this economic climate if the funds don’t somehow empower the people who are making things work. My business is growing and I need to expand not pay the bank exorbitant charges for minor 1 day accounting errors. Not to mention having to fight to grow a business with out any financial aid once so ever. This is not a problem but we don’t as Americans in this time need a bail out bailing out companies and banks who are more concerned with taking advantage and asset grabbing . President Obama should really look in t0 these practices as it is running rampant these types of stories. Unless of course this has been the big plan all along.

  25. It is true, that we Americans need a bail out ourselves. Even 25,000 to everery American TAX PAYING family, would increase the economy 10 fold, and give more oney to banks that they can then reinvest, and hopefully build more capitol. However, this will never happen due to our Presidents stupidity. and ours. Every one wants to yell at the government (which I feel the same way), but we forget we are the ones who elevted them in the first place.

    We are responsible for part of the problem. What we (all Americans) need to do is write and tell the congress men, senators, and our oresident, that if they do not straighten up, then they our out next term. however, I doubt 1/10th of America will do it. Do to the fact we have become lazy , and complacent in our lives.

    Only now are we starting to see how bad things really have gotten. The question is will and do we have the courage and guts to fix it?


Web Joho only

Comments (RSS).  RSS icon