Public isn't buying Wall Street bailout

[FreakinDJ]

Indignant Americans stage protests, deluge congressional offices.

By Ken Bensinger, Los Angeles Times Staff Writer
September 26, 2008

As congressional leaders struggled to craft a bailout plan for the nation's troubled financial system Thursday, angry protesters mobbed Wall Street, telephones rang off the hook in House and Senate offices and a group of prominent economists sent off e-mail blasts critiquing the proposal.

Numerous opinion polls taken this week came to wildly varying conclusions about the level of support among Americans for the Bush administration's $700-billion plan. But the increasingly loud roar coming from all corners of the nation shows that the idea of a bailout has touched a particularly sensitive nerve among the public.
http://www.latimes.com/business/la-fi-voxpop26-2008sep26,0,3246836.story

This thing is so unpopular it could keep Obama out of the White House

[az chela]

1. How can this keep Barack out of the white house???

[FreakinDJ]

3. Most Americans don't support the plan

Just 30 percent of Americans say they support Bush's package, according to an Associated Press-Knowledge Networks poll released as White House and congressional leaders struggled to rescue the plan after House Republicans rebelled against it.
http://www.newkerala.com/topstory-fullnews-26833.html

[avaistheone1]

4. Yup. Rassmussen polls have being saying the same thing. American of all political persuasions do

not want the bailout.

Rassmussen has been polling a couple times over the last week and their polls too show that only 30% of Americans support the bailout.

I agree with them. No taxation without representation.

[FreakinDJ]

8. All I hear is "Highly Unpopular"

which I interpet as above 50%

But heck 2-3% of swing voters is all it takes to change the outcome of this election

[intheflow]

9. I still don't see how that will work against Obama.

If both Obama and McCain vote for Bush's plan, you think that would inspire more people to vote McCain? Maybe both candidates would lose voters who'd choose to stay home, since voters of all political ideals are pissed off about this, but I don't think this would be a straw that would break Obama's backing.

[FreakinDJ]

10. Trust me - McSame ain't going to vote for it

No - he won't be caught again, not after the S&L crisis

[texastoast]

2. Damned straight

No fucking bailout.

I hope I can attend a protest this week.

[Two Americas]

5. much, much bigger than that

The public is now prepared to overthrow the whole rotten system of Reaganomics and free market libertarianism and the culture of greed. The long nightmare could finally be over.

Democrats are standing in the way. Democrats.

[coalition_unwilling]

6. Americans are a bunch of economic morons! I will bet they

don't oppose using their debit cards to buy gas. If global credit markets freeze up, many daily actions they take for granted will simply stop.

I hate acting like a RW survivalist kook. But I found myself in an Army surplus store today. Bought a Sterno stove, fuel, water purification tabs and a week's worth of MREs for my wife and me. What blew my mind was how few people were in the store.

I live in LA, so my purchases will be added to the earthquake kit and do double duty.

[FreakinDJ]

7. I live in the countryside for the same reasons

More land then house - we grow a lot of our own food here

But tell me truthfully - "Do you understand how they shuffled those bundled loans offshore and they came back with AAA ratings?"

And of course you are aware China is setting the "Deadline" the US Congress & Senate must pass this bill by ....

[coalition_unwilling]

11. The bonds were NOT shuffled offshore

before receiving "investment grade" ratings from Moody's and other rating agencies. (Unless you possess evidence no one else has?)

Please stop casting aspersions on China! It has as much stake in preserving global liquidity as the ruling elite here does. Such chauvinism ill becomes this nation of economic morons.

[knowledgeispwr]

12. It isn't just about Wall Street...it's about credit

Those who think that only "fat cats" would be affected by a real credit crisis are gravely mistaken.

It saddens me that so many people are upset about something being done and they aren't even clear on the ramifications of the worst case scenarios.