WALL STREET "BAILOUT"

[Aegean_Kassan]

Demona_Darchanjel

I think it's good that the government is finally trying to do something but I'm not sure if what they are doing is the right thing in this situation. I honestly believe we are heading into another depression, maybe not as bad as the first one (I hope) but a depression nonetheless. Something has to be done, but what?

Yes. I thought, hey I am a teacher. They have to pay me. Guess they don't. I read that California is asking for money to pay for many services, including teachers. I we can't afford to educate our young, we are in serious trouble. My school district cannot buy supplies for the rest of the year. We started our fiscal year in Sept and were out of money before the end of the month. (I imagine the administration will get what they want, but we teachers will need to buy supplies, again. )  

[Aegean_Kassan]

starblazer66

How about some of you guys read what's in the NY papers. Some big wigs from AIG already wasted 500g on a frickin getaway. Apparently, they've been planning this for a while too. So tell me, how is this bailout benifiting anyone besides these jacka$$e$?

I read that too. I am sure it is not the only excess from people wanting a bailout.
Sad to say I make twice the money I made 12 years ago (as a first year teacher), plus I was raising three small children. Now I have one left in school and have much less money to spend. No, I don't pay for my kids college. No, I do not own my home or have a car less than 10 years old. I do not have a big screen tv or anything high def. My only play is DSL, and I chose that over cable. They money does not go as far as it used to. This needs to go to the you know your old when thread.  

[Harbone]

Well, my sister married an economist. He says that most financial models have been predicting this for the last two years or so. About when the Federal Reserve changed hands. There was some sort of turning point about that time that we missed in the turmoil, maybe.

On the other hand, the DOW was up 900 points today. Of course, that's after falling 600 points a day for, what, one or two weeks in a row? Just a week, I think.  

[-Stumblefoot-]

the same thing is hoppening here in britain (the whole of Earope actualy) Gordon Brown injected a few billion in to three major banks that were collapsing and lost every penny. the entire E.U. has now put 2.9 trillion pounds int bailing out the banks and in britain Brown has now nationalised the three banks that were getting hit the hardest. im not an economist or anything but it seams to me the whole worled could be heading for ressesion.  

[Harbone]

Hey! Does anyone remember that anti-bancruptcy law they passed a few years back here in the US? Do you think that was a symptom or a cause (one of many, of course)?  

[Venuslady]

Jadyn Fortysix

Ridiculous. It's simply more economic handjobs for the financially fluid. If this continues, I'm getting a cabin in Montana.

LOL LOVE the "Economic handjob" comment! ROTF!!  

[Harbone]

Sooo... how's the old bail-out going, anyway?

I mean, did it work or not?  

[Folgor]

Quote:

Sooo... how's the old bail-out going, anyway?

I mean, did it work or not?

in terms of freeing up the credit markets (which was its purpose) yes it has brought some ease to that. But what most people dont realize about this is it will be something we start to feel in 6 months to a year, its not a instant solution, and tbh searching for one is part of this problem :/. The financial crisis was years in the making and well getting out of it isnt going to solved in a day. Just the truth.  

[Harbone]

It's really kind of hard to see this as an example of long term planning.
It seems more like emergency plastering, to me.