Gothamist: Bush: Treasury to Invest $250 Billion in Banks

NannyState

Tue, 14 Oct 2008 20:55:00 -0500

Social Security will be scrapped to pay for all this. Put your money in the stock market...er, or not.

BaxterJ

Tue, 14 Oct 2008 15:42:11 -0500

Bush keeps making statements and no one is listening.

drewo

Tue, 14 Oct 2008 12:42:37 -0500

Which is probably what we will all end up with.

Politburo

Tue, 14 Oct 2008 12:15:02 -0500

"And while they're making guarantees (like FDIC insurance up to 250G), why not guarantee that my Social Security benefits will be intact when I need to draw from them?" Technically, that guarantee is already in place. But I could shit in a box, slap a guarantee on it, and all you'd have is a guaranteed piece of shit.

yg

Tue, 14 Oct 2008 10:57:09 -0500

I have to say that the idea of investing into banks is a much better idea than what they been trying to push for before. Instead of buying crap off the banks' books with taxpayers money - essentially taxpayers paying for banks' mistakes - the government is essentially assuring investors that everything would be OK in the long run. Also important that they are getting preferred shares. Which is good because a) it is guaranteeing higher dividends, so the taxpayers would be something is return, and b) gives the government a non-voting stake, so we won't turn into a planned-economy country where the govt controls the commerce.

SP

Tue, 14 Oct 2008 10:51:23 -0500

So we easily can shell out a trillion dollars over the course of three weeks to bail out capitalists, spend 720 million dollars EACH DAY on the Iraq war, but yet we have no money for social security or a national healthcare system??? Plenty of money to make sure the rich stay rich, and plenty of money for military and petrochemical industry contractors, but no money, OUR MONEY, for us taxpayers. That's GOP math for ya.

jibbly

Tue, 14 Oct 2008 10:39:19 -0500

Wait, what? Didn't Paulson just a few weeks ago condemn this sort of action in a bailout plan?

drewo

Tue, 14 Oct 2008 10:18:34 -0500

Robbing Peter to pay Paul. These are the same folks who are incapable of balancing their own budget. And while they're making guarantees (like FDIC insurance up to 250G), why not guarantee that my Social Security benefits will be intact when I need to draw from them? The same Social Security program I have been paying into for 30 years now - and will (forcibly) be paying into for years to come.

Fritzdecat

Tue, 14 Oct 2008 09:42:49 -0500

Does anyone really think just throwing taxpayer money at the problem will solve it? When the only tool you have in your toolbox is a hammer the whole world looks like a nail.

S.D.

Tue, 14 Oct 2008 09:22:01 -0500

Does anyone really think just throwing taxpayer money at the problem will solve it? Yesterday might have been on account that people are buying assets when the price was lower.