Flashback: Stimulus plan may lead to Fannie and Freddie bailout

I couldn't agree more. Besides, I'd actually like to see what happens if we (the gov't) do nothing. I'm sure that all of those fat cats will be more or less fine no matter what happens. And I'm equally confident that I'll be (relatively speaking) fucked no matter what happens....

I can only hope this really wakes the American people up to the fact that regardless of party, Congress doesn't
give two farts about us.

Well we didn't wake up after 9/11, we didn't wake up after the Iraq war lies, we didn't wake up after the torture, we didn't wake up after Katrina, we didn't wake up after Bush pardoned Libby, but they always said Americans will wake up when it hits them in their pocket.

I would rather spend taxpayer money on American banks and financial institutions than spend it in Iraq.

So what happens if we do nothing? Can you explain what will happen to our banking system if we continue to write down these items on the banks balance sheets until they go out of business? It will be so great when all of our American banks are owned by foreign institutions? I can't wait.

The tax refund we were given in february didn't work because people didn't use that money on their bills. They used it on consumer spending in other areas. The new proposed plan would send the money directly to the companies involved so the two proposed plans really aren't comparable.

Also, what would you propose as another option?

I myself was hoping to head to college next fall and major in environmental engineering. If i can't get a student loan because of the credit squeeze then I will not be attending college this coming fall.

The stimulus money was supposed to be used on consumer goods to stimulate the market. If people were smart then they would have used it on bills, in fact, I remember reading a lot of people were saving the refund.

And no I have no better plan.

So you mean they gave us $600 dollars in a stimulus check just so they can ask for it back in taxes after we've already spent it?

There's a bridge somewhere Fannie Mae is trying to sell me, but it's falling down and foreclosing in 2 months...

Avolyn: How about the government actually infusing those billions back into the economy by way of creating jobs that will boost consumer confidence and create real capitol? Handing it over to those who already screwed the markets up doesn't solve anything. And not to be rude, but I got a job on campus and worked my way through school. That might be an option you can look into as well if you can't get a loan. However, I am sure universities will be looking at this and hopefully working out a way for qualified students to attend their institutions. Fearmongering doesn't help either.

This is the chance for the people who employ those in Washington DC to tell them that we do not want this money funnelled back to the investors and foreign banks that will only use it to continue the same practices. And they will if it means profit. You cannot cure greed by handing a greedy person money. It's like handing an alcoholic a bottle of vodka and thinking they won't drink it just because you told them not to.

A classic example of "well I don't like to say 'I told ya so' but well, I did."