RE: "People who may not get credit who need it to live."
If you can't afford to pay cash, you sure as hell can't afford to pay interest. Probably the best thing that could happen to this country would be for people to learn to live within their means.
RE: "My bank collapsed today. I was heavily invested in it and in the stock. I lost an inordinate amount of money."
Not to be unkind, but I doubt any disinterested observer would have called that a wise investment decision considering the amount of available information. After banking with Washington Mutual for over twenty years, I moved my money out a week before it went under. At that, I feel like an idiot for waiting that long.
RE: "This was not a bill to bail out wall street but pension funds, social security etc."
Again, I would encourage anyone, in the strongest possible terms, who hasn't at least skimmed the actual text of the bill to do so.
RE: "We need something passed and soon or my friend you will see a great Depression"
I hate to be the one to break this to you, but we have been in a depression for at least a year now. Home values have dropped more than during the depression and will continue to fall. Unemployment rates are nearly that high and are skyrocketing. The dollar has lost half its value. The cost of basic necessities has climbed by 400%.
There is a saying, "When an elephant falls, don't stand under it trying to hold it up.".
At this late date, the disease is the cure. "Too big to fail.", is a myth. The reality is, "Too stupid to survive.". The only possible cure is to let the diseased entities die off, so stronger and healthier entities may move in to fill the void.
The system needs to be purged. Until that happens, no recovery is possible. It's going to be bad either way. How long it stays bad will depend on saving those that can be saved vs. throwing good money after bad in trying to support the carriers of the disease. |
