Main Street's Resentment Over Wall Street Bailout

Washington Post :

The bailout doesn't smell right to the people of Manassas Park, where the foreclosure signs are as common as azaleas. They know all about bad debt here. This is a terrain of oversize dreams, misjudgment, financial calamity -- and empty houses. "Foreclosure. Foreclosure. Foreclosure," said Ed Merkle, 58, as he pointed to the "for sale" signs lining his street.

But Merkle, a defense contractor, said he has lived within his means in an era of easy credit. He didn't take on a huge loan even when his bank encouraged him to dream bigger.

Read the whole story: Washington Post

Comments

[mnash]

Why are we bailing out "foreign banks"? Why don't they allow other people who are well versed in financial aspects to become involved and voice their opinion instead of just the big wigs Bush has given all the authority to?

[muffler]

We are bailing out Barkleys because the Lehman friends of Bush are pissed and we are bailing out UBS because Phil Gramm is on the Board... You know Phil.. he is McCain economic advisor...­. Damn.. they aren't even trying to hid their crimes anymore..

[Clairvaux]

We must have a Democratic solution to this Republican fiasco.

The Repugs actually think they are still running the show.

[Wiredwilly]

I could help if people would LISTEN.
The Federal Reserve is an Unconstitutional Private Bank POSING as a Government entity, funneling taxpayer dollars into Private accounts as they have been doing since 1913. The solution is not more twaddle about taxes, the solution is to DEMAND Congress audit the Federal Reserve & DEMAND they pay back all the money they have stolen from taxpayers since it's inception in 1913. Virtually everything negative that has happened to America in the last Century , from World War ll to the Kennedy assassination, 9/11 & the Iraq War , can be linked to the profits of the Federal Reserve Banks. We the People need to follow the wisdom of the Founders and return to CONGRESS the power to print currency. The Federal Reserve is running the Nation as a giant no limit credit card & charging us interest on our own money.

[ThunderclapNewman]

Tin Foil alert!

[dayala]

Ron Paul has been saying this forever and ever and no one listens.
the devaluation of the dollar and the Federal Reserve are the main culprits for the economic crises today with deregulation adding fuel to the fire.

[ThunderclapNewman]

Ron Paul is a certifiable luna tic.

[Opt1musPr1me]

What does it smell like?

[mabinog]

cow pies

[MNmommy]

That's the smell of ammonia as we are trickled upon.

[DRPike]

LOL

[ForRichardorPoorer]

Go after these wall street investment banks and bankers, ceo's, congress people, senators . Just like Enron, these financial predators have raped and pillaged our society. I will gladly sit on a jury.

[muffler]

I think what these people did is treason!

[ThunderclapNewman]

Not according to the US Constitution.

Treason is the only crime defined in the Constitution, and nothing that's been done rises to that definition.

[katok]

OK, if they intend to give away 700 Billion to Wall Street, take it out of our Defense Budget. At least somthing good can come out of this. We can stop waging global war.

[Clairvaux]

It's genius !!!

[bootcamp]

The 'Republicans are the party that wrecked America' in the 8 years.

McCain-Palin have nowhere to go now but down, and I will tell you exactly how this will happen. They can run away from President Bush, but they can't run away from the Republican Party. The Republicans will be regarded from now on as "the party that wrecked America." Over the weeks ahead, as carnage in the economy and the financial markets ramps up, it will become increasingly clear. It is important that this meme be spread through the internet. I urge all commentators to adopt and spread the idea that the Republicans are "the party that wrecked America." It will work because it is the truth. Use it freely. Just spread the word. Get the meme going.

[frappe]

Here's the new theme to draw investors and new businesses to our shores:

"Come to America where freedom from financial risk is your Constitutional right -- We guarantee it!"

[kid5rivers2]

Seems like America, more than ever, needs a level-headed, steady hand on the wheel. Can't think of any better than Barack Hussein Obama and Joseph Biden. Can you?

[frappe]

Agreed.

McCain/Palin would be an absolute disaster. Absolutely.

[noradunn]

I'm sorry. I missed Joe Biden's middle name. What is it?

[AurigaRa]

why should it smell right?
They are crapping all over the American taxpayers

[Harod]

The Dems are not going to stock tinkerng with industry until they chain the whole economy.

[saxmaniac]

Excuse me? Who made this mess? Maybe you slept though 1992-2000 when EVERYONE was making money, paying their bills and doing OK -- with a Democrat at the helm. The last 8 years have been a complete, utter disaster on so many fronts I've lost count.

[dentrev]

Two words: Barney Frank. I know,. It smells fruity!

[DRPike]

If you had a point it was lost in your foam.

[Ariadne]

How do you get here. Who is asking for this bailout? Who?

[BillyShears]

what is wrong with you?

[muffler]

Dumba$$... It already is chained and drained. The Dems now have to rebuild it and your kind will just get in the way. Time for you to go away and wait until things look good so you can ruin them again.

[analisethis]

Who guards the guards??????????

[DuPageDem]

This bailout is welfare for billionaires. They benefit, and the rest of us pay. How about going after the holdings of top officers of the companies that caused the mortgage meltdown? Take everything they've got. It will cover a significant fraction of what this will cost.

[ThunderclapNewman]

You're advocating that the government seize private funds, which is both undesirable and highly illegal in this circumstance.

Once proper oversight and regulation is added to the measure, the bailout is for the economy as a whole.

Without liquidity in the credit markets, the entire US economy will disintegrate and depression will ensue.

We have to do something about those companies---the ones that have survived---but the real issue is saving the nation from a major economic depression.

[noradunn]

Yes. When you rob a bank in an Armani suit, you get to keep the cash. Those are the rules plain and clear.

[DuPageDem]

You're worried about "highly illegal" now? Isn't that another phrase for "Bush Administration?"

[Targaray]

Palin/Bush Quote of the Day -

“They're our next door neighbors, and you can actually see Russia from land here in Alaska, from an island in Alaska,” she said. "

FACT:
Palin's hometown of Wasilla isn't much closer to the Russian capital of Moscow (4,318 miles) than New York City is (4,663 miles).