#1
I understand that Congress wants to 'protect the taxpayer' and 'has obligations to their party' but 95% of congressmen and women are NOT economics experts. They sit and ask Bernanke and Paulson the same questions over and over because they simply don't know enough about economics to come up with a legitimate plan for the economy. There is a reason why Bernanke and Paulson hold the positions they do, because they ARE experts on economics, and they KNOW what they are doing. Congressmen are simple Politicians, and don't know anywhere near what Bernanke and Paulson do. When the richest man in the world (Warren Buffet) says that the plan needs to be put into action, and that is the right thing to do, it probably is! Buffet is a genious, and knows what he is talking about, along with Bernanke and Paulson. Congressmen act like Paulson and Bernanke WANT to have to ask for $700 billion dollars. NO ONE wants to have to do this, but it is OBVIOUSLY the best thing for the economy. Every day Congress stalls on this plan, the economy gets weaker and weaker, credit markets have basically frozen. This plan MUST be approved and fast. Bernanke and Paulson know what they are talking about, let them do what they think is best! Congress STOP getting in the way!

Sorry for the Rant.
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#4
this is about economics. thats the whole point. politicians need to gtfo
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#5
Yea, I'm sure congressmen and women read UG to gain insights on your opinions.

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#6
The problem is the executive branch has a history of using emergencies like this to make power grabs. This bailout would give the presidency totally unprecedented direct (no checks/balances) power over the economy.

American politics suck.
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#7
Thats my point. this should NOT come down to politics. the power should be given to Bernanke and Paulson, and bring Warren Buffet in as a Consultant (he is apparently sitting by his phone in Omaha waiting to be called, but due to political BS no one will call him)
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#8
Quote by VRGNR08
...Congress STOP getting in the way!
i'm sure you've convinced all the congressmen reading this. good job.
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#9
Quote by VRGNR08
Thats my point. this should NOT come down to politics. the power should be given to Bernanke and Paulson, and bring Warren Buffet in as a Consultant (he is apparently sitting by his phone in Omaha waiting to be called, but due to political BS no one will call him)


Bernanke and Paulson were as effective as Ray Charles in the Louvre at seeing this thing coming. Everybody was saying it would happen, they denied it for a long time.

Have faith, though. Buffett is making massive investments right now. Does he make mistakes? No.
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#10
Most economics I've heard agree it will be nothing more than a temporary fix, and won't stop the inevitable. I personally think that if my government is going to be spending almost a trillion dollars, it needs to fix the problem.
#11
I don't think you understand what is in that plan, TS.

Paulson pretty much wrote a plan that says "Give me $700 Billion, and trust me to make the right decisions with it. Also, don't ask me any questions about what I am going to do with the money. I'll take care of it."

A couple of the clauses in that contract were chilling. One stated that there would be no judicial review of any of the decisions made within the plan. At all. No accountability. The plan is gigantic in scope but extremely limited in detail.

There are other things that Congress felt should be in the plan, and frankly, I agree with them on quite a few of the parts that they wanted to add to the plan.
#12
Quote by Seryaph

Paulson pretty much wrote a plan that says "Give me $700 Billion, and trust me to make the right decisions with it. Also, don't ask me any questions about what I am going to do with the money. I'll take care of it."


I GET IT!


he's gonna bribe the aliens in area 51 to use their superior almost magical brain power to right the wrongs of the world! and they need 700,000,000,000 to do this! since they are so advanced and need much american money. however, politicians obviously cannot reveal the true use for the money.


it's an ingenius plan!
...Nothing you've ever...
...Planned on ever turned out...
...The way you planned...


...You're still disappointing them...
#15
Quote by Its_Rock77
I GET IT!


he's gonna bribe the aliens in area 51 to use their superior almost magical brain power to right the wrongs of the world! and they need 700,000,000,000 to do this! since they are so advanced and need much american money. however, politicians obviously cannot reveal the true use for the money.


it's an ingenius plan!



Yes . . . yes. I see, now.

There never was a "Wall Street". It is really just a code name for a giant Alien Maw that requires billion of dollars for sustenance. Obviously, it has implanted a spore into the brains of this country's leaders and is manipulating their minds in order to achieve its diabolical plans!

Don your tinfoil hats everyone! Arm yourselves and prepare for Intergalactic Battle!
#16
I would not hand over my financial future to a bunch of rich greedy bastards who care nothing of me you ****ing douche bag.