US economy going down? Will it recover? - THE US Financial Crisis.

[Rance]

Was there a joint meeting last night at the White house that includes the 2 candidates with President Bush? I hope there was a clear resolution on the said "bail out" or investment.. si McCain ni papel dayon he said that everyone should focus on the crisis bahala na ang Presidential debate that is on schedule today in Mississippi na ngita rag rason para maka sibat sa debate hadlok siya I think he's not ready to discuss all major issues kay paksit gyud siya ni Obama LoL

[EZRA]

There was a meeting pero the bill was halted - POLITICAL MOVE lang gihapon. The Democrats claim they have the votes to pass the original bill. Pero di ni mo pass ang DEMOCRATS with the REPUBLICANS kay hadlok sila nga the plan won't work (and in this they are correct) and refuse to put their heads on the chopping block if they spend $700 billion or more and the economy collapses anyway. They demand nga ang mga Republicans mo kuyog nila sa sunog.

They're still playing the game bisag nagkalisod na ta.

[Rance]

The 2 Presendentiables has no choice because either one of them will face the music on January so I think the government are trying to vouch whoever will win on this crisis but the question is are we paying too much? is the 700B to much to pay off? there is no clear justification on the plan that is why some people are hesitant to support the "bail out" or some consider it as an investment for the falling economy GOOD The Economy

[EZRA]

Mao ni akong analysis when I first read katung unang draft sa bill.

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Ang ordinaryo nga taw nag tuo nga $700 billion ra ni ang bailout, pero dili tanan ang naay idea to what really is going on. Sky is the limit ni bai and the entire bill constitutes a giant money-laundering scheme.

Awa: Paulson can (and presumably will) buy up to $700 billion of these "assets", then sell them. Let's say he decides to buy them at 60 cents on the dollar and sell them for 10. You, the taxpayer, will eat the fifty cents, for an immediate cost of $350 billion dollars. Having done so, he is then authorized to do so again, kay ang $700 billion is no longer on the government's balance sheet.

In fact, he can do this without limit, - bisag kapila balik balikon!!! other than possibly due to the federal debt ceiling, which of course Congress will raise any time we get close to it. Oh yeah, this bill does that right up front too. No need to bother with it the first time around.

Bai, $700 billion isn't even close ug pila gyud ang potential nga magasto nato ani iyang proposal.

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[Rance]

Yeah hopefully those issues will be negotiated because in either way this current financial crisis needs to be resolved if pasagdaan ni mo samot tingali ang multiplier effect for the world economy and everyone should come together and pass a substantial rescue plan. Si McCain pang lawgaw lang na iya and I don;t agree on the insertion of presidential politics in this issue because it has not been helpful.

[EZRA]

RANCE - I'm actually happy that McCain is against the bill. If he's trying to dodge the debate and used this as a scapegoat well iyaha nang discarte pero this bill need not be passed.

There are solutions that presented to Congress and Senate - solutions that doesn't involve the TAXPAYERS' money. Pero mao lagi, PAULSON has something on this crisis and he's trying to cover his butt. REMEMBER - he was Goldman Sachs' CEO/CHAIRMAN. It smells funny when someone comes up with a bill in just over 2-3 days and demand that it be passed in a week.

[Rance]

Hehe nya saun man na Republicans are pushing this bill nya si McCain sakay2x nalang against na sad siya.

[diatabz]

McCain saying that he's against the bailout sounds a little dodgy. I think he's really trying his best to detach himself away from the Bush administration and to back his reputation as a maverick. It would be best for both candidates to shut up if they don't have an immediate plan as of yet. Coming out with "plans" simply stifles the work Congress has to do. And i agree with Ezra that 700 billion dollars is just a number. In the long run, it won't fix things.

[Dorothea]

EZRA, thanks for clearing things up, once again. Honestly, naglisud ning akong utok sabot anang $700 billion dollars oi. Sobra kadaghan sa zero.

How will the gov't rescue homeowners by seizing Wall St assets? Will that help with mortgage payments? Wonder, wonder nalang gyud ko ani dah.

Mas maayo pa lagi panghatagan sa gobyerno ning mga tawo ug kuarta ibayad sa mortgage. When I watch the news, people keep saying, "The gov't is helping these big corps, but what about us? Who will bail us out?" At least kung ang ordinaryong tawo, makadawat ug kuarta nga naa gyud sa iyang kamot, that will restore confidence in the gov't. People will think that Uncle Sam really does care about them.

Also, I wish they'd have a televised conference to explain to ordinary folks the benefits of this bailout. People feel like they're being kept out of the loop. No one understands it. They need to come out with pie charts and illustrations that an ordinary person can understand, and take us through the plan step-by-step. Most people (like me) cannot grasp the complicated language of financials, himoon unta nilang sabotable oi. Dili nang mga hush-hush meetings etc etc

When people don't understand what's going on, they panic. And when people panic, shit hits the fan. And then the fat lady sings. Game over.

[EZRA]

If you watch business news channels like Bloomberg and CNBC, they do discuss these bailouts... and of course, there's C-SPAN. Problem is, it's up to you on who's word you're gonna take kay preha sa tanan, there's 2 sides of every story.
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Just to make it clear, the main concern here is the Financial Institutions - not the homeowners. The homeowners who forfeited in paying their mortgages are partly responsible for the situation we are in right now.... and you want to reward them for that Is there any guarantee that the money you give them are going to their mortgage payments? Is this gonna restore our economy? Is it going to restore the confidence of foreign investors to put their money in our banks?

Dorothea, I do suggest for you to do some research (yahoo finance is a good place to start http://finance.yahoo.com/). Information is out there for everyone - only if you look for it. If you're really interested to know what's going on, read up.