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Discussion:
Bailout: Worst Legislation Ever?
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That's what Ron Smith of the Baltimore Sun thinks.

I'm not sure if I agree completely, although I do see some truth in his last paragraph:

"The plan bulldozed through Congress last week carries with it dire implications about the future of our country. To redistribute income upward as this does means the game is over. We live in an age looking suspiciously like that of other empires in their late periods of decay, and if you don't know what that portends, it's probably just as well."

http://www.baltimoresun.com/news/o...
Posted on 10/11/08, 03:10 am
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Reply #1 - 10/11/08  6:32am
" Sure as hell didn"t help the markets except for the last uptick rest of the world tank more money to the banks the worls is fucked God Bless the Freemason cabalists that run your cfountry and all the other miscreants around the world that treat people insanely

http://www.google.ca/url?sa=t&... "
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Reply #2 - 10/11/08  9:13am
" WAY too soon for anyone to brand this the WORST legislation ever....History has shown the markets will correct themselves....a lot of the money that was infused into the market will not even reach it for another couple of months.

Anyway Ron Smith must be smoking crack or only looks at history in the NOW sense...

HOW ABOUT THE PATRIOT ACT!? An all out attack on civil liberties unparalleled in the history of the nation.....just maybe...maybe...I might be reaching a bit...but that one sort of sticks out to me... "
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Reply #3 - 10/11/08  9:51am
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Reply #4 - 10/11/08  10:18am
" They found a couple billion for my company in the legislation - sweet! "
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Reply #5 - 10/11/08  10:37am
" In The UK we have effectively nationalised the weak banks. If they succeed we will benefit as they now belong to us. If they fail we will all starve. If we had left them to the incompetent bankers there is no doubt that we would have staved anyway. It is just a gamble but no action would have been a disaster. "
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Reply #6 - 10/11/08  11:00am
" In the US we have a provision in the bill that allows the Treasury Secretary to buy stock in the failed banks. For the American people this is a better option because buying toxic mortgages does nothing to free up cash.

I personally think every American should have seen this coming. When you send all manufacturing jobs oversees to exploit labor over there while greedy companies make more in profits it dries up the middle class. Come on people we all should take some responsibility for this. What did you do when your neighbor was being laid off? Why did you oppose Labor Unions? Why haven't we pushed for campaign reform? Who did you vote for? Yes my fellow Americans we have been asleep at the wheel. We should change that now and start to get seriously involved. We let the rich and powerful do this to us in my opinion. "
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Reply #7 - 10/11/08  11:09am
" Sharon,
The American nation has been asleep at the wheel. The rest of the world has overtaken you. This is clear from the dollars weakness over the past couple of years. Unfortunately the bad habits of American finance institutions has infected Europe. The American economy has been weak for some time, it will take longer to recover than the rest of the world, if indeed it recovers at all. The Pacific rim, China and India are in better shape. "
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Reply #8 - 10/11/08  11:37am
" Well Tom999 I think you are right. Americans can't pull themselves out of it because they are complacent in all of this and no longer have a free will to do what is right. We have been spoon fed trickle down and free market economics which are anything but trickle down and free market economics. What we have here in the US today is a corporate socialist state and no rights as individuals.

I think this financial crisis gives Americans an opportunity to take back our country. Historically Americans have always risen to greatness by banding together and pulling ourselves out of a bad situation which I believe is still possible but not probable because of our attitudes. The next major revolution is alternative energy. If Americans can get at the front end of that we could potentially create livable wage jobs as well as all the ancillary jobs that go with a prosperous middle class. It’s up to every American to hold our legislators accountable to allow this recovery to move forward. "
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Reply #9 - 10/11/08  11:49am
" I caint understand these people are still allowed to have the same jobs and havent been fired,or put in Jail?? Allowing this bail-out, park, and ear-marks and so much more along with it even after American tax payers sad no to it they in Washington should be forced out. Period. Why has nothing been done about this. "
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Reply #10 - 10/11/08  11:51am
" Sharon, You may be right about alternative energy. However the Americans are the laughing stock of the world on that front. You use oil and gas as though there is an infinite supply. You sulk when gas goes up a cent a gallon. If you have no change you will end up a third world country.
The Europeans are looking at renewable energy, are the Americans?? I don't think so. The Americans are the most wasteful consumers in the world. With the rise of Asian economies and Europe your economy is slowly heading for irrelavency. What you need is good leadership, not a baboon like Bush.
You have an election soon - make sure it counts. "
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