Anybody here still support the bailout?

[edhopper]

Looks like the pigs at the trough will just take $100s of billions more as more and more companies ask for theirs. And are they using it to free up credit? No they're buying up banks at bargain prices and keeping their bonuses secure.
How much should AIG alone get? $200 billion? $300 billion?
And now we find out the Treasury has given out $2 trillion and won't tell us to who.
Looks like those who opposed the bailout were shown to be right.

[leftofthedial]

1. all those champeens from the bailout time

seem to have disappeared.

you mean it really *was* theft?

[depakid]

5. No, they just don't like mob rule

where people on shallow idological crusades rarely listen or learn- nor consider the fact that similar (and often coordibated)actions have been taken by most every industrialized nation with any economic sway around the world.

PM Kevin Rudd, Treasury Minister Wayne Swann and the Reserve Bank of Australia recognize the necessity of these actions- as do PM Gordon Brown and Chancellor of the Exchequer Alistair Darling and the British central bank.

As do Obama and Paul Krugman.

Personal analysis aside, I'll look to their judgment for confirmation on what the responsible policy choices are likely to be, before I do angry often ill considered comments on message boards.

[girl gone mad]

10. That's a broad brush dismissal of every valid criticism.

Krugman thought action necessary, but still called the terms of the bailout bad. He's since been shown wrong on the urgency of action, just as he was wrong when he claimed that speculation wasn't behind the recent rise in oil prices.

No critic that I know of was on an ideological crusade. It was a matter of wanting responsible economic policy to see us through the crisis rather than repeating Hoover's mistakes.

TARP 1.0 was a hideous, horrible plan, so bad that when G7 met the weekend after its passage, they forced the administration to adopt a recapitalization program instead. Even Bush, Paulson, Bernanke et al have admitted they were wrong. Why can't you?

[depakid]

12. It was a broad brush post and OP that I was responding to

and btw: I don't think Krugman's been proven wrong at all about the urgency of action- of getting the ball rolling so that the G-7 -as well as nations of the G-20 could get on board. The US had to show some leadership and take decisive action.

I also think that some aspects of TARP are going to be necessary. Last time I looked, so did most everyone else you cited.

Like you and other though, I'm pleased (and had fully anticipated) that this one policy angle wasn't going to end up being the what we all eventually did.

This mess is far from over- and there'll probably be more unpleasant actions required over the next year or so.

[leftofthedial]

23. mob rule?

the only mob I see is on Wall Street.

[geckosfeet]

2. If it was truly a bailout meant to improve the economy - yes. This is a

giveaway to the rich. One last feeding frenzy on the countries dime for the rich pigs.

Looting the country in plain sight. It is quite astounding to watch.

But we all knew that this is what they really meant when they said "bail us out or else".

[Lerkfish]

3. actually, I never supported it, but I felt it was going to happen nevertheless

my suggestion was to use the money to pay off bad mortgates directly for the homeowners instead of rewarding the vultures.

[dailykoff]

4. Now they're all busy hating on Caroline.

That was so long ago anyway.

[wildbilln864]

6. Well sure!

I just love to see the super rich get richer while I struggle to make ends meet. Don't you? :shrug:
k&r!

[QueenOfCalifornia]

7. No.

I haven't from the get-go.

Barney Frank is talking out of his ass on this one.

[nadinbrzezinski]

8. Exactly how? THose of us who KNEW a little about the HISTORY of the New Deal

recognized something mob rule has not.

This bill had zero to do with theft

This bill would and has been opposed with the same language as the VERY EARLY depression era legislation was... never mind there are things in common with THAT legislation

Oh and JUST NOW... we are starting to see EXACTLY how that authority is being used... which is FAST by guvment standards

By the way... since you are following this in detail, you surely know that the money to be lent to AIG is now becoming a stake in the company

I am sure you didn't

I am also positive that you have also noticed the next stimulus package looks eerily similar to the second stage of the Depression... public works

And no, I don't expect that to happen until AFTER inauguration for the same reasons those HAD TO WAIT back then

But I am sure this is far from the last knee jerk, we really don't know what the fuck is going on, but boy we feel better when we scream at the top of our lungs... crap

[girl gone mad]

11. "mob rule"

"guvment"

interesting.

[chimpymustgo]

13. Nadin, you're STILL wrong. The bailout was, and is GRAND LARCENY. Of us.

[nadinbrzezinski]

16. Same language used back in the 1930s, exact same language

how's that history going?

How exactly did that go?

by the way, if McCain had won then TARP might have become a different thing.

I suspect that this is going to change so fast (by guv'ment standards that is), that the banks will have a slight case of whiplash.

[OwnedByFerrets]

22. Go talk to Thom Hartman about the New Deal....

one of the MOST knowledgeable folks in american concerning this subject. Then, after he sets you straight, come back and tell us the same story. You most likely WONT.

[arcadian]

9. Thank God it passed!

:rofl:

[Art_from_Ark]

18. Yeah, really

We had to get that $750,000,000,000+++ bailout package passed right away without debating or even reading it so we could wait several months to see if it would actually have any effect :crazy:

[readmoreoften]

14. Never did, never will.

[QC]

15. Those loud apologists for corporate socialism have become strangely silent on that topic.

They're still around, mind you, and just as full of lectures, but have moved on to other subjects.

[shanti]

17. what does it matter?

:shrug: they were going to get the money if we wanted them to or not.

[Autumn]

19. Never have,

never will. They made their choices,they should have had to live with them.

[OwnedByFerrets]

20. Never did and never will

[TexasObserver]

21. it was and is a heist