My Opinion of the Bailout Naysayers.

[Barack_America]

In a picture:



And just one more:



This is what happens when companies can't make payroll, and can't get a short-term loan from the bank, so they layoff employees, who then can't pay their bills, so that another company can't make payroll, and can't get a loan from the bank....and so on...and so on... (and of course those people lose their homes, which affects the bank, so that they can't lend money to companies for payroll...)

I'm not an economist, but this much is pretty clear.

[sailor65]

1. Not everyone agrees

either that this will be the outcome or that the bill would have prevented it anyway.

[walldude]

2. No one knows for sure

and frankly I'm sick of people betting on POSSIBLE outcomes with my goddamn money.

[Barack_America]

4. It will be the outcome. Would the bill have prevented it?

Who knows? And the way the Congress is now talking? It's unlikely that an agreement can now be reached, IMO.

[Renew Deal]

3. How is that different from what would happen if the bailout passed?

[Barack_America]

5. The scenario I presented is due to frozen credit.

The bailout may not have prevented a depression, but it would have freed up credit. And that would have helped prevent one.

[ContinentalOp]

6. Why today?

Why does the failure of this bill today make it impossible to find a better course of action tomorrow?

[Barack_America]

7. Because we're running out of time. Credit is already frozen...

As soon as the missed payroll and layoffs start en masse, it may be too late to stop.

How long before that starts? I don't know. But we already know that businesses are going to have a VERY hard time getting loans to make payroll.