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

[EZRA]

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CHAD.. check this SENATOR.

YouTube - Let's Play "WALLSTREET BAILOUT" The Rules Are... Rep Kaptur

She knows what's going on. This is who people should be listening.. and not to the President and his lackey's who's trying to cover up their mess.

[chad_tukes]

OT: ugh, youtube's blocked in our office. i'll watch it when i get home.

[vienzel]

has anyone heard the President's state of the nation address regarding the economic crisis? wa gyud onod and assurance na mahimo sa side sa mga working/taxpayers. bottom line niya... is to push for the approval sa bailout plans nila. d man gali sya makahatag ug concrete plan or steps kung unsaon ni nila ang crisis karon! unya sulti pa sya na, kaning situation karon ky resulta sa dugay na na problema...problema na sya ra gasugod siguro!

SURPLUS and maau bya ang economy sa US pagbiya ni EX.Pres. Clinton sa una na si BUSH ang ni salo, unya mo ingon sya na resulta ni sa dugay nang problema sa US? unsaon sa mga gasto nya sa gubat, tua didto gisabwag ang kwarta sa taxpayers nga way hinungdan!!! sya ra gahurot tanan....unya karon mo ingon sila 700B contingency nila sa economic crisis karon.

the nerve and BS nila!!!

[omad]

here's the latest on the bailout:

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Lawmakers: Financial bailout agreement reached
By JULIE HIRSCHFELD DAVIS, Associated Press Writers
25 minutes ago

WASHINGTON - Warned of a possible financial panic, key Republicans and Democrats reported agreement in principle Thursday on a $700 billion bailout of the financial industry and said they would present it to the Bush administration in hopes of a vote within days.

Emerging from a two-hour negotiating session, Sen. Chris Dodd, D-Conn., the Banking Committee chairman said, "We are very confident that we can act expeditiously."

"I now expect that we will indeed have a plan that can pass the House, pass the Senate (and) be signed by the president," said Sen. Bob Bennett, R-Utah.

The bipartisan consensus on the general direction of the legislation was reported just hours before President Bush was to host presidential contenders Barack Obama and John McCain and congressional leaders at the White House for discussions on how to clear obstacles to the unpopular rescue plan.

Tony Fratto, the White House deputy press secretary said the announcement was "a good sign that progress is being made."

Lawmakers: Financial bailout agreement reached - Yahoo! News

[EZRA]

DOROTHEA.... here's a LAYMAN's explanation on the BAILOUT by JON STEWART / THE DAILY SHOW. Not a thorough explanation by the way - and although this is a comedy show, Jon is pretty much well-versed in today's current events - and it's amusing on how he translates it in his own way

The Raw Story | Daily Show: Bush 'won't be satisifed until American children are eating roadkill'

Scroll down for the video.

[Dorothea]

EZRA, salamat sa link. That was a very "sabotable" explanation.

I was just wondering though, if they're so intent on this $700 billion bailout, why not involve us ordinary folks? Instead of giving the money directly to these investment firms, give it to the people instead. The gov't can extend a dole-out/loan/relief package to those who are most in danger of losing their homes. If the gov't can give each family, say, 10k, for the sole purpose of paying off a mortgage (or at least taking off a huge chunk of it). This family can then put this money in the bank, effectively putting money in the bank's coffers. Unya ipa convert ilang ARMs into FRMs (puede ba na?). The banks, with the influx of money from mortgage payments, can then share the wealth with those investment firms. The money will trickle down to those troubled firms that Bush so desperately wants to help. Won't that get the financial wheels spinning again? At least, ma bail out tanan. From the homeowners, to the banks, to the investment firms etc etc

*just wondering*

[EZRA]

First off, they're not giving the money to the investment firms. The goverment is going to acquire the toxic and troubled assets with the 700 billion -they will buy out and assume the troubled assets and try to sell it off (but using the people's money in the process). Tingob na ang pag sigop sa mga troubled assets instead of tagsa-tagsaon nimong hatag sa kada household nga nag atubang ug foreclosure. 2nd - the Govt. already tried to bail out troubled mortgages with the 200 Billion housing bill. That didn't work at all. That's why they're coming up with this new bill.

[EZRA]

WAMU bit the dust. There goes another banking giant - largest bank failure in US history. JP MORGAN assuming WaMU holding company assets. So - who's next?

[vienzel]

@EZRA, u wer ryt few days ago prior to the shut down of WAMU na sila ang mo sunod!!! hhehehee...unsa na ni! maypaka kapalit ka gold....

how did u know, are u working at Wall or Mn street? hehehe....

[EZRA]

OT: Vienzel swertehan lang sa tag-an. Lisod baya ning kita kita ra ang mag trade diri sa balay kay mag sige tag research nya tan-aw CNBC or BLOOMBERG and a lot of online sites for the sake nga di ta ma pordoy ang atung portfolio Karong panahona, lisooood kayo mo trade kay Chris Cox and SEC is changing the rules everytime.. adding companies on the NO SHORT list on a daily basis.
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I really hope this bailout won't pass. There are a few other solutions out there presented by financial geniuses - hopefully the House will change their direction and dump this bogus proposal.
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By the way.. GOLD has been down these past 2 days because of Hedging. If you're planning on buying physical Gold Bars or Gold Stocks (GLD), mas maayo karon na.
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By the way - pay attention to WB (Wachovia) .. I already took my money out of my Wachovia account and moved it to my wife's Chase account.