$700B bailout plan passed, Now what??

[kevinbahnz]

What does that mean for us working class people.? What happens now. Is everything gonna go back to normal. WTF, i want a piece of the pie.

[O-cha]

Originally Posted by kevinbahnz

WTF, i want a piece of the pie.

Also passed by the senate doesn't mean it's passed.

[gPiplay]

Originally Posted by O-cha

Also passed by the senate doesn't mean it's passed.

It still has to be passed by the House on friday, whom rejected the plan on monday.

[Bobby_Light]

If it passes, it means they are bailing out companies that have made piss poor business decisions and you and I will be paying for it for generations to come. The value of the dollar will fall as the currency inflates and money is literally stolen from every Americans' bank account.

The systems needs a forest fire so to speak and throwing printed money at the problem will only delay the inevitable severe economic hardship. Slow downs in capitalism are not going to be solved with Socialism. The market will correct itself. Intervention is not needed as much as a complete overhaul of economic policy. Instead of throwing money at the problem we should think about smaller government, sound money, drastic spending cuts, tax breaks, and a change in foreign policy (get troops home from around the world - we can't afford it). The NEW American way needs to focus on production and saving instead of borrowing, spending, and consumption.

[achien]

"Now what???"

We are witnessing the biggest transfer of wealth in the history of mankind.

[ska///235i]

Now What???

We're all fucked

Some people should be put behind bars (or some kind of punishment)...I mean anyone that has anything to do with the banks that created this problem.
But yet, no one is in trouble....they pocket all the money, and now we have to deal with it..WTF

[kevinbahnz]

my bad. its all over the news that it passed the senate already, I didnt know there was more to it. but anyways. like I said in the other threads. Its gonna pass but the greedy people on top wants to stick their hands in pot first.

[VMRWheels]

Nobody's really getting "paid" from this, but it's more like rescuing the failing financial institutions by absorbing a number of their bad debts.

"The centerpiece of the rescue package is a plan to buy up billions of dollars in mortgage-backed securities that banks can’t sell because nobody knows how much they’re worth."

-quoted from http://www.msnbc.msn.com/id/26994238/

[kevinbahnz]

but before it gets passed, the people in congress wants something in return.