Eye readers were overwhelmingly opposed to bailing out Wall Street. Last week's unscientific poll had 69% of Eye readers saying no way to a bailout, 22% absolutely supported the move, 8% didn't know, and another 1% didn't care (see the results here).
Congress passed the plan that our readers so overwhelmingly rejected on Friday of last week. The pork infested bailout was supposed to be good news to the markets, but so far today we've seen the Dow off over 600 points. Pundits and politicians will have us believe that the market hasn't seen the taxpayer moolah and won't for a couple of months yet therefore the bailout isn't reflected in today's selloff.
Perhaps Wall Street has figured out that all the bailout does is transfer bad debt from financial institutions to government institutions. Instead of having financial institutions collapse we're placing a long-term burden on taxpayers at a time when the Baby Boom Bomb is getting ready to explode. Of course, what is $700 BILLION compared to the TRILLIONS of dollars the social security debacle will cost all of us.
Last week's post on the APD Citywide briefing (read it here) incited a number of passionate responses. It got us thinking about the chief's job performance and whether or not you approve. So that's this week's Eye Poll. Don't forget to vote!
14 comments:
According to the Conservative Rupert Murdoch's rag, The NY Post, the execs of the FAILED Lehman Brothers Brokerage got out FIRST with $480 BILLION in EXECUTIVE BONUSES.
Thank you Dems for NOT allowing Bushie and his CROOKS on WALL STREET to 'privatize' my $607 per month Social Security check that I EARNED.
Throw the Bastards all out next month. Vote Democratic.
Yeah throw them all out, next congressional election vote Republican!
Oh yeah and thank Barney Frank for all he did for ya"
Since The Republican "Mavericks" have decided to personally attack Barack Hussein Obama instead of talking about the Crash of the Stock Market today, I'm NOT going to vote for John Sidney McCain III. It's the economy, stupid.
Excuse me vote democratic……get off the glass pipe you bleeding heart liberal. Voting democratic is the worst thing you could. This whole mess were in now is thanks to the democratic part and bill Clinton. Go head and vote democratic and watch you social security, national security go to hell.
John Sidney McCain III will offer up solutions to the current financial crisis during his Debate on Tuesday night. He has Sarah Louise Heath Palin researching her back issues of "The Eoncomist".
MOM!
It's his/her fault not mine, not so MOM it's his/her fault not mine.
The constant blame game isn't going to resolve this crisis. The GOP is responisble because Bush is President! NO, it's Congress because they're Dems. It's a political cesspool.
I know voters that go to the booth and just chose their polical button. Come on people research the issues. Don't vote for McCain because Palin is cute, or Obama because we need a 1/2 black man in office. Educate yourselves.
Do the politicals really care about the people or the high school popularity vote. All I know is that the Homecoming King and Queen looked like crap and were nobody's when I went to my reunion.
RE: October 6, 2008 8:57:00 PM MDT
Seems to me ... This mess happenned while George W. Bush was on watch ... er ... I mean snoozing ... We had a surplus when Democrat, Bill Clinton left office!
The Republican's 'trickle down' theory means they've pissed on all of us.
Ok well if we look back at history under the Clinton era it was his “dream” to have everyone in America own a house. Several organizations latched onto Clintons ideas (ACORN) and they qualified numerous families to qualify for home ownership with ARM’S, no money down mortgages and other scam offers. The residents kept up with the mortgage the first year then everything went to hell in a hand basket as soon as the interest rates went up. So please spare me with Bush was asleep at the wheel line this is a result of Wall Street greed and mortgage companies easing credit to get non qualified people in homes. I’m sorry but while it may be nice for everyone to own a home it cannot happen under our free market system, it is not a right to own a home it’s a privilege that hard working responsible people qualify for. I do not fell one bit sorry for people who are loosing their homes when they are living outside their means.
In the 1990's former President Bill Clinton started this mess by loosening the regulations on how banks and mortgage lenders loaned money. This was done so that " every American has a chance at owning their own homes." Because some of these people could not afford homes based on traditional mortgage loans, sub-prime lending became the norm. Stop blaming this solely on Republicans. Both parties share the blame, but with out the " wealth redistribution" policy of Liberal Democrats, this type of mess would not be so severe. I am a so called "minority." I have seen first hand how liberal policies have ensnared and enslaved minoroties here in N.M. Instead of a "hand up", Liberal Democrats here give minorities a "hand out." We become accustomed to this "special" treatment and we forget that what it takes to get ahead is HARD WORK! My entire family ( huge family ) thinks this way. We work hard and do not have to use the welfare system or "social programs" offered by Democrats as a means to keep the Hispanic vote! This is not and will never be a socialist country! Like Sarah Palin said, " John McCain is the only candidate on either ticket that has really fought for his country."
The road to Hell is paved with good intentions. Carter and Clinton wanted to be "fair, compassionate" etc to those less albe to compete. Well, the paving trucks are working overtime.
Why do our elected officals think "feel good" translates into good policy? You can't ignore the rules of basic economics. Alas, since the US school system doesn't teach economics and I doubt anyone in Congress ever took a course, is it any wonder the country is speeding down the Purgatory Highway?
Here we go again ..... the Neo-conservatives think it was the liberal's fault for this mess when the republicans have been in charge for most of the Bush administration's term ... They obviously have shown where there interests were, and now a lot of folks are suffering because of it .... The system has never needed fixing like now ... We still had a surplus when Clinton left office before the Neo-con's went on their spending spree!! (Undeniable by those who have eyes and are willing to see the truth unfold)
"One other thing I've done, is I've called on private sector mortgage banks and banks to be more aggressive about lending money to first-time home buyers. And the response has been really good. There's a lot of people in this -- our communities around the country that deeply care about the issue of homeownership, and they've been responsive."
- George W. Bush, U.S. President, March 26, 2004
Poor John and Cindy McCain. They are down to their last 8 homes and 13 cars. My heart bleeds for them.
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