The big problem is the removal of oversight and restrictions on the banks and Wall St. because of the insistance of the Republicans that 'this' would hamper growth and economic profiteering. You can't blame Obama for this crisis. He and his Administration is doing all they can to keep us afloat. The challenges that have faced him for 2 months are tremendous. They were made over the last decade or longer and have been complicated by greedy and corrupt CEOs and ignorant legislators.

I've heard many suggfest that we let the brokerage houses and banks fail. The world has changed and we would be bringing down the entire world economy if we did nothing. We have no choice.

Being patient is especially hard for spoiled brats who have had it easy for too many years. It's time to grow up and support the difficult choices of President Obama. Trying to undermine him is a stupid political move. The GOP continues to lose ground. We have all the best people working to get us out of this lousy situation.

no way oabam gets blamed for wasting trillions of our tax dollars and we do have a choice..banks fail and others will pick up the slack...all the best people like tax dodger guithner,,a proven liar..why should we trust him or any of the other swine that obamas cabinet comprises LOL..you swallowed the kool-aid...

Well this article is non-news. Everyone is fed up with the crap. (Except the "sheep.")

Fisherman - Everyone is angry and wanting to assign blame which does little good at this point but if you must - at least be accurate.

You are a revisionist. The Bush administration wanted to tighten regs but the DEMs voted in committee along party lines to NOT support it while the GOP voted to support it. Fearing they did not have the votes to pass it, the bill never came to the floor of the Senate.

Study up a bit on your boy, Barney Frank. He is culpable.

This administration is confused between leadership and popularity. They seem to have an increasing concern about their popularity instead of the efficacy of the policies they are pushing... From day one Obama has not thought through his actions. The American people have every right to be upset with Congress and the President for not thinking through placing restrictions on how the bail-out money would be used - DAH!

Obama is going to see the support of the American people go down the drain if one more cent is given to AIG & the rest of these blood-sucking, greedy swine. They don't even know if more money will help but they're willing to try it again anyhow because they have to?? Who do they think they're kidding? Why not have the backbone to refuse to give them any more funds & see if they don't recover the bonuses! This helps the rich upper class & that's all it helps! The money should have gone directly to the public & it would have trickled upward to the financial institutions, auto makers, Wall Street, ect. But no, the gov., Wall St. & big business think the American people are all fools with the intelligence of a herd of cattle & thus they can get away with anything. They cave in to the pressure & bail out these unethical, immoral thieves and their rich 'buddies' & to heck with everybody else! There is nothing that's been enacted or proposed that will help my husband and me & probably the majority of others. We don't qualify for extended unemployment & thus Medicare as we at one time supplemented our skimpy income with odd jobs & the market for that has dried up & due to the recession, we're unemployed. Our mortgage isn't with Fanny or Freddy so we can't get help with our mortgage. We were forced to take an early retirement which is too much money to allow us to qualify for food stamps or any programs but is not enough to live on. Our retirement was eaten up by the recession & we don't get a paycheck so won't benefit from any decreases in withholding taxes. It's very unlikely that any jobs will be saved or created in our area & even if they were, they wouldn't be in industries that would employ us. But, oh well, if our house goes up for foreclosure, some rich investor can pick it up for a song and resell it for a nice profit while we live on the streets. Great system! Remember the French & Russian revolutions & don't think it can't happen here.

John,

That is a great reveiw of our recent history...you forgot to mention that it was "O" who threatened to filabuster.....

Unfortunatly the Dems on this post do not want to hear the truth and they would not know the truth it it hit them in their eye........

good try anyway..............

kaitlin, do you honestly think McCain would have done anything better?

You're right, McCain wouldn't have done any better. The GOP should have nominated Mitt Romney or Ron Paul. Our lack of options sits squarely on the voter.

PLEEEEASE People! WAKE UP! BOTH parties are equally guilty, yes GUILTY (because crimes have been committed). All this Obama vs Bush BS is not looking at the whole picture, Both parties are responsible, and this has been building up a lot longer than 10 years.

John-385319;

How dare you provide such facts!!

And for those who think the Federal "takeover" of Fannie and Freddie in September is meaningful, remember: they were created by the Feds and even when "privatized", have been controlled by the Feds. That is why they continued to increase the percentage of bad (sub-prime) loans in their holdings: they were told to.

Ultimately, the entire banking fiasco comes down to "performance indicators" (as a basis for bonuses) and government interference (requiring sub-prime loans by law and using Fannie and Freddie as a buffer).

The economy was good till we got a democratic congress in house i n 2006. The ecomony tanked in 2007 when the legislation they passed were in place. We had 7 good years with Bush. When will you liberals ever snap out of your cult coma, get your head out of the sand and WAKE UP. We now have the same trash that started the mess, trying to fix it. And they aren't trying real hard. We got the fox watching the hens. The cheats. ANd folks, it ain't working.  Its like they don't want it to work. This is an Odumbo economy and its a doozie. Its about to get worse.

The way I see it the partisans who rule the country don't really care what the people think, this attitude seems to be bipartisan. I do find it interesting that the concern is the backlash against their policies could actually slow their agenda and future spending programs. They don't care what you or I or anyone else outside of their circle thinks about anything except who we vote for once every 2 years. Their concern for their policy is laughable considering the lack of oversight of the disposition of the funds already spent.

Read -

They haven't seen anger yet! These pompous , arrogant clowns in Washington (no insult meant to real clowns) still just don't get it. Hopefully all of them up for re-election in 2010 will be voted out of office and tar and feathered!!

How about prosecuting them, Bush, Obama, Paulson and getting the offshore banks, who really run things out of our country, before they destroy it like they have done so many other nations

kaitlin, do you honestly think McCain would have done anything better?

NO he is owned by the banks too. Ron Paul should have gotten the nomination but the nominations were obviously rigged for McCain who never had a chance anyway.

If not prosecuted then they all should be fired and stripped of their license so these idiots can not put people and our country in danger with their greed in such a trusting position they were in. Get rid of the garbage and lets rebuild a better system that these so called experts can't ruin again.

“I do think there’s a potential for a ‘damn everybody in power’ kind of sentiment,” Mr. Kazin said.

You ain't kidding!

Why should we be mad at Mr Obama and his Democratic House and Senate for wasting BILLIONS and BILLIONS of dollars and adding to the national debt more than any other president in history? I thought he could walk on water and was the savior of this nation? Guess America may be discovering he has no idea of how to be president and is a lair to the people he is supposed to be serving.

All I can say it is when it is not your tax dollars at stake!!!!! It is ok to spend spend spend. You forget that most of congress feels that none of us are able to make the right decisions. Now as things have gotten the way they have I now starting to believe that they are correct. Either you are told you are entiled so you are waiting with your hand out, you do not want to be responsible for your credit card debt and lastly you don't want to be responsible for your choice in a home that you could not afford.

It has always been The Democratics party to spend money and big goverment and as I said I wonder how many really pay their taxes!! Being that this bunch that was nominated for his cabinet had more tax trouble than I ever heard. Guess for them It was not their patriotic duty to pay their taxes. Guess means they are above that too!!

I guess this means there are a lot of educated idiots. Some where we have lost our sense of COMMON SENSE.

This is an incredibly complicated juggling act that Obama and administration have to do. The simple truth, which no one wants to admit, is that we are at the end of the viability of the capitalist system(for the rich folks, folks) and all those that have been riding the bubble are taking what they can, while they can. The money-people have always run the system, and we can expect that unless there is a massive change in the way the world thinks, it will be the same the next go-round. MONEY ISN'T REAL. It's the "SYSTEM" that counts, not the greenbacks. No one(and I mean NO ONE) cares whether that piece of paper(or debit card)is backed by gold or any other symbolic value, all they care about is if they can buy something with it~

When you hand someone a lot of money and don't make them have a plan to use it this is what happens. I could use some bail out money. I need a new car and a week in Jamaica. These are the same people that came to the president with there hands out on private jets

John-385319, your post, 1.5, spelled out the time line about as perfect as I've ever seen. To bad all forms of media (well, except one) couldn't be bothered with honest reporting of the same facts.

"Barney Frank is in favor of a "back door" approach to fixing the economy.... " (goldfish4obama)

Kinda looks that way from here.

Salem, The correct spelling is "grammar".

Amen to you. We are all likely to go down in flames while they spend us into debt. Gee, wasn't it Mr. O who said we could not spend our way out of debt by borrowing? I think the members of congress, the senate and the house should be personally liable for these actions and should be able to be sued. If it were the people, us, that does this kind of stuff, we get sued, why not them.

Thank you Lucy - I was just getting ready to correct that!

I am one ^%#^^ ())(&* $@$& American right at this moment. These *&*%^& (&)&*(*^67565 Are driving us into the ground. We need to throw everyone of those ^&$%$$@%)( ()&()*&^(*6897 out of Congress, and as for this person sitting in the white house that (*^%$#() should be ()(&&&#@ 90870*I* This ^$%#$*& make me so ^&%%#^$ (*(^&%^*% . And thats all I am going to say about ( I censured myself since I knew they would do it anyway).

This is a two sided story that for once you can see both sides of and neither is entirely right. From the Government side and the people who are in fact the Government being ticked off at the people who took bailout money and are paying bonusu's it appears wrong to do so. After all we are all suffering from wht these people did. Make no mistake here this whole episode was caused by the very people who are now receiving aid from all of us and some cannot see how they could even think of paying these bonus's at a time like this.

On the flip side of the coin Banks and lending instituions have contract with employees that they must honor or they lose important people. Keeping your workforce intact in some cases is just as important as balancing the books. In AIG's case they are a trillion dollar corporation and only their mortgage loan division is having problems. Their insurance division is highly profitable and other parts of their business is also. In order to protect the investment the government has made into their company and for the money to be returned that they borrowed it may be necessary to pay bonus's to some employees even if it does look bad on paper. To keep the company afloat these people may be needed and these payout are part of their compensation packages.

Now as to how this was handled I would say very badly. Since Banks and lending institutions are hollier than thou in most cases they proceeded as they do with their customers not realizing the PR damage doing so may have caused. This was incorrect. What they should have done is tell everybody up front what they were planning and why. An ounce of prevention is always better than a pound of cure.

As a citizen I reserve the right to be ticked until I can see if these payouts are the correct thing to do but I reserve that right with the understanding that sometime in the near future these expenditures will be explained properly so we all can understand what they are doing. After all we loaned them the money and they should be held accountable for what they are doing with it. This is the same thing they would demand of anyone who borrows money from them.

This is my opinion and mine alone. I have nothing at all to do with AIG or any of its many companies except at one time I did use them for car insurance.

What I don't understand is how you all feel outraged at AIG and not Fannie/Freddie/Congress. It's truly time for our government to clean it's own house before getting all rightious about what used to be the private sector. Perhaps this was the change that Obama referred to.....but somewhere got lost??? There's way too many smelly questions about Fannie and Freddie that need to be asked and answered, and perhaps some indictments handed out as well. AND why is no one is outraged at Standard and Poors for rating subprimes as AAA, allowing them to be bundled with good debt. Many of the subprimes should have been rated much lower due to their risk, so who paid for the AAA rating? And now we're set to spend our tax dollars on health care and alternative energy, when the reality is the government isn't even trying to make corrections in it's own financial mistakes.

The congressional limitations are a laugh. You should read them. There are so many loopholes you could drive 4-lane traffic through them. Why should, Obama, the Senate & Congress want to do anything that will hurt themselves? AIG is a typical example of backscratching. You didn't see them handing out $160B to the Big3 to keep all their workers and suppliers in business. That involved so many peoples job it wasn't even funny. Yet AIG is still operating the largest private jet fleet in this country and paying millions in bonuses. Repayment of all bailout money should be made immediately by AIG.

AIG should be forced into bankruptcy and anyone getting a mortgage should ask point-blank "is this insurance through or connected with AIG in anyway?" If so, go elsewhere to get insured. Cut their business off at the knees. Look at the fancy skyscraper they are housed within and know your tax dollars are paying for this crap.

This story is the same ol' mess in a different wrapper. The 2 trillion is long gone and we get the bill. Obama will be looking for money soon, just like any other youngster with the keys to daddy's car would do...He will get it Too!!!...As soon as he rally's his flock with a few of those "Changes we can believe in" speaches...To some of his sheep he need only wisper and they fall like wheat...America....You have been duped!....

Forget the tea party. We need pitch forks and torches.

How about the billions of dollars Barney Frank, Harry Reed and Maxine Waters have received by accepting compaign money from the banks?

I would like to know how many in Washington have money invested in AIG,my broker with Edward Jones was trying to sell their mutual fund to us on IRA rollover about 2 yrs ago.thank goodness we declined.said it was solid as a rock,maybe Tim the turbo-tax man has money in it?

John @ 1.5

Nice rant but unfortunately all you have provided is the right wing excuse for the failed policies of the last three "conservative" administrations. Anyone who has seriously researched and followed this crisis from the beginning understands that while F/F had their issues, they were NOT responsible for the subprime mortgage debacle. In fact, they actually financed a very small portion of the loans that are considered subprime. The real estate meltdown has caused further deterioration in their portfolios, as in all portfolios, of mortgage debt. The financial meltdown began in the CDO world and spread to asset backed conduits and other non-bank financial institutions that were un-or-under regulated. In addition to these markets, the banks and investment banks have been under-regulated under the Bush Administration resulting in fantastic leveraging both on-and-off balance sheet. This leveraging together with the bad assumptions made by the rating agencies rating privately issued mortgage backed securities in the mortgage market set up the crisis. There is more, of course, including the fact that many people purchased homes they really could not afford, but if you would truly like to understand what is transpiring let me know and I will recommend a book or two for you to read.

Some of you are correct, some are partially correct and some are just plain stupid.

We can't really blame either party for the meltdown directly we can blame them however for being dishonest, worthless, greedy scumbags however. (This applies to both parties.)

We the people have no control of who gets elected and what happens afterwards.

Look at how the campaign goes......only the wealthy or those backed by wealthy interest groups can run for political office. We don't have a chance as it stands right now to put an honest person in office - Senate, Congress or President.

Once in office they are at the beck-and-call of the people that paid their way into office.

This cannot be changed until we reform campaign funding and who's money is used for and by the campaigners. We need to make it law that a person running for election cannot use their own money, all money must come from a common pool donated by the people and businesses and that it must be divided evenly among campaigners. If enough cannot be doneated then it will come from a special tax say .002 levied on everyone and businesses alike evenly.

We must make laws to eliminate lobbying, lobbyists and accepatance of gifts, money or favors by anyone connected to to government (especially senators and representatives). The law needs to be severe. SOmething that would impose either a death penalty or life in prison.

This is the only way we can regain control of a the government so that it works for us.

If you want to change it so it is fair and honest , Then get off your ***es and make a change, recall your elected officials if they do not do this.

It's becoming more obvious with each passing day that we do not have a government by the people or for the people. It's become a government of the special interests, spelled (the big money interests). It's becoming more obvious that it's time to clean houses, our representatives and senators. Unfortunately, the people we vote for are representatives of the interests that pay for their campaigns. Our choice....not really. All we get to do is vote for these special interest representatives. Both parties are bought by these interests so it doesn't matter who's party gets into office, they will do the bidding of those who grease their palms. So how do we get our country back? A peaceful revolution? I'm sure that if we as citizens were to march on Washington we would be shot at while the crooks take the money and run. So far there has been absolutely no impact on the economy from any of the funds given out. There has been no transparency as to where the money goes, except for the funds being taken for executive bonus's and these people don't really need the bonus's or earn them. The conclusion I've come to is crime has been legalized for certain industries and I'm beginning to think that maybe they know something the rest of us don't. That we're heading into a depression the likes of which the world has never seen and those of the upper crust are going to take every penny they can before it all caves in. Everyday more of the rocks (us) that support the structure are falling.

I vote Libertarian, and even though I don't like all Libertarian platforms (I do believe in a tax to pay for a National Health Care System), I look at my Libertarian vote as a vote against all incumbents.

I do want Change. And, I do hope Obama does delivery on his Change campaign. But so far he hasn't delivered.

polecolaw, nice response however you're missing one thing that post #1.5 has: facts and links. So how about you put up some evidence to support your statement that Bush was the sole cause for the under-regulation of Banks. What legislation did he force to change that? Why wouldn't Congress be equally to blame for that under-regulation (btw hindsight is 20/20).

Also, your last sentence alludes to the lending to unqualified borrowers. Precisely who do you think was to blame for that? Would that not be those very Congressmen/Congresswomen who kept advocating lending practices that caused this very debacle?

We own 80% of AIG and they refuse to allow review of thier books....so.....the abusive, corrupt, criminal corps get to break the law while our government pours the citizens money into a black hole. Of course they get bonuses....the executives that pulled of the biggest taxpayer rip off in the world should get paid for their heist. Good Work.....The only way our government can redeem themselves is by bailing out the unemployed, homeless, starving people who need help now!

"Barney Frank is in favor of a "back door" approach to fixing the economy.... " ()

Kinda looks that way from here.

If you mean telephone pole no vasaline. Then yea.

This is the dumbest thing I've ever heard. Retention bonuses? First I used to work in an industry that based part of my compensation on production/performance. I had to sign the document outlining the incentive plan for each new year. Know what it said in the fine print? The company retains the right to modify or rescind this contract without notice. What company would not put this disclaimer in their contracts? Secondly, where are these employees going to go if they don't get a retention bonus? Go ahead. Leave. I'm sure there are plenty of jobs out there for you with your skill set. There may be but I bet there are 100 applicants for every job out there. What a joke.

Remember History.
The housing "meltdown" started with Clinton and his Democratic Congress in 1996.
If someone mandated that you give money to someone who could not aford a loan, would you try to come up with a way to get your money upfront?
Well, that is what the lenders did! And now we are paying for the Clinton boondogle.

I still want to know who had the bright idea to give all this money to the same idiots that made the mess. Why are the loan brokers that totally lied to people to get them to sign the loan papers are not being prosicuted. Why keep give money to idiots.

If they would have just paid down every ones home loan it would have done more for the country's recovery

tired, AIG is not a bank. It is an insurance conglomerate that probably invested in the mortgage derivatives so they weren't involved in the actual loans. However, like everybody else that invested in these they should not be bailed out.

John-385319,

That was one helluva good post!! Honest and factual with the ability to be cross-checked.

Right On, Right On !!

Now I'm reading that Obama is considering taxing the health benefits of all Americans. Another flip-flop from his campaign!!

He denounced this during his campaign as "the largest middle class tax increase in history" but now that he's in office he's considering supporting it!

This is our savior???

Sounds like just another lying double-talking tax and spend democrat to me.

For those intent on blaming Bush for the financial deregulation that inspired the financial meltdown, here's a quote from the World Socialist Web Site (wsws.org) on November 1, 1999 showing that the problem dated a bit earlier than Bush.

By Martin McLaughlin
1 November 1999

An agreement between the Clinton administration and congressional Republicans, reached during all-night negotiations which concluded in the early hours of October 22, sets the stage for passage of the most sweeping banking deregulation bill in American history, lifting virtually all restraints on the operation of the giant monopolies which dominate the financial system.

obama's worried about not being popular? just send the coolaid truck around again.

I do fully agree. Better, Democrat-controlled "Congress and the Obama administration not only "have a right to be worried", but MUST begin to worry esp., if they are going to be ineffectual in controlling and bringing these crooks on the Wall-street to their senses and justice. Mere "sweet election time promises" by Democrats & Obama in particular that "we will bring real changes" will not please the public/majority for a long time. Also, they should remember, only because majority in this country recognized that Bush/Republican govt were responsible for this situation, both Obama and Democrats got reins of this country in November elections! So, any more harping on who is responsible for today's economic problems can only be of secondary value and counter-productive to the present Administration. Also, merely "soft-speaking, nice guy" compliments to Obama will not last longer, but how effective a Commander-in-chief will only be the acid test for him during the next couple of years & during his First term in the Oval office. That only will decide whether his will be a one-term president or better. So also will be the case with Democrats controlling both the Houses. Simply put it - reasons for today's situation are less important to the public, Only solutions in a reasonable time-frame are....

Limit Congress, take Pelosi's Gulfstream luxury jet the taxpayers are paying for, and throw all the cheats out of office. Geithner, Reid, Pelosi, Obamanation. They are ALL liars, cheats, thieves, and people of low/no morals.

Facts are stubborn things; they don't change direction in the middle of the night like our elected officials and other folks in denial do.

To looselucy - Everyone is mad here because THE GOVT. is STILL NOT fixing the PROBLEM! It is nice to IDENTIFY who is to blame, but that is a pointless exercise if the problem is not CORRECTED!

Thanks for the Change Obama. The establishment should start to worry the discontent of the American public is growing stronger every day. Congress would do well to remember the Declaration of Independence "Governments are instituted among Men, deriving their just powers from the consent of the governed, --That whenever any Form of Government becomes destructive of these ends, it is the Right of the People to alter or to abolish it, and to institute new Government" Let us not Forget Marie Antoinette We will not be content to eat cake either beware Congress and Mr. Obama you are all there to serve our best interests not yours. I suggest you try a little harder to clean up this mess you have created

There are two things here that are abundantly clear. AIG lied about needing the money and AIG is on it's way under. Now these two things seem like they are conflicting when they are not. AIG knew from the start that there was no hope of saving it from bankruptcy. Even if they got twice as much money they were still going down. So they got all they could from a brain dead government and now they are literally stealing the money that was "loaned" to them. They are paying out all they can to themselves before declaring. They should go to jail for what they are doing, but the powers that be won't let that happen. As investors, we can make a killing from this knowledge by shorting this stock to the max. I am dead serious. This company is going under big time. Mark my words and place your bets.

I have seen this so many times with oil and gas companies. They borrow all they can, appear to do great things, all the while stealing the money that was loaned to them and then declare bankruptcy. It's the same thing just on a much larger scale.

John is correct in the historical analysis. Demo's must take the largest blame but repubs are guilty as well. Both parties just keep voting for these bailouts with no accountability. I think everyone should find a way to pass John's comments on to everyone they know. The problem is our deaf representatives who exist to serve themselves, and their financial supporters. The crooks are just being complicit and then some to corporate directives. People have to wake up, learn their rep's voting records and throw the scum out. They are not representing you and me, they don't read the bills they vote on and they are hell bent on sending the honest hard working people of America to financial hell. My email to my reps. is going to be on fire again. I am sick of this and everyone else should be too.

Voter @ 1.46

http://polecolaw.newsvine.com/_news/2008/05/03/1467118-subprime-and-the-bush-administration

http://polecolaw.newsvine.com/_news/2008/07/13/1661765-what-caused-the-credit-crisis

http://www.nytimes.com/2008/10/03/business/03sec.html?_r=1&hp

Let me know if you want some more. There is, by the way, plenty of blame to go around for everyone. Trying to pin this on F/F, or on the Community Reinvestment act of 1977, is a partisan ploy.

To John385319: Very good report. Indeed you are correct, but until the Government owns up to their mistake and stops putting the blame all on one person or group, they will never learn.

Keep pushing their buttons, that is the only way to make them accountable.

I wrote an email to Russ Feingold, my Senate representative and he said the previous administration was at fault. When I responded that yes, President Bush may have spent too much on the bail outs, but that the Democrats today are following suit and creating a worse mess, his answer was, "the previous administration's fault". In other words his response was a canned retort. Most likely anyone who wrote in about the economy got the same story line. Now to be fair, he is joining other Democratic and Republican Senators in trying to eliminate the Earmarks that are prevalent in these bills. One can only hope they succeed. There is way too much money spent on this wasteful endeavor.

Some people are complaining that AIG gave money to some of the banks they insured. That is the purpose of insuring the banks. If they got into trouble, AIG was suppose to cover some of the losses.

If they got "Skeptical bonuses", such as Rep. Barney Frank said, one only has to remember that like you said, Barney was one of the culprits that got us into this mess.

Also how dare Rep. Meeks cuss at the Republican Rep. Richard Baker. I don't know if Meeks is still in the House or not, but he should apologize for being "Pissed off' that Rep. Baker would bring up something like being responsible to the American public. Once again, Good Article. Thanks for the follow up. It really brings it all together.

polecolaw, thanks. It's always a good thing to have multiple viewpoints. Still all supports my current view that until all encumbents are removed from office, we'll simply perpetuate these kind of errors.

John-385319 Good post John! The "followers" are not going to "hear" u.

Voter - I agree with you. We need reform in campaign finance, in post government employment, and to balance it out, large raises for anyone elected to congress. Pay them enough, keep them free of campaign finance obligations, and prohibit them from working in an industry they oversee or legislate.

its the same plan from day one, with all contingencies in place, the only mistake he has made in implementing his country killing agenda was underestimating the saavy of the people that arent buying his load of @!$%#. his agenda will be in place for us to deal with though and the waves will be felt for years to come. the poor bastards that are in his camp now will either have to continue to blindly follow his course or own up to the foolishness that overcame them with the starstruck eyes and the tears of idolaters. its a sad day in america. but not the last from those of us that care about the U.S.A.

It appears that the republicans, big businesses, lobbiests et al are out in full throated finger pointing voice again on these boards yet again. This would be laughable if it wasn't so sadly disgusting.

There are many on these boards who believe that the govt should not nationalize these institutions for the duration of the economic downturn, because nationalizing these institutions etc would reek of socialism which is such a no no, even although these institutions are owned by the govt and thus the people.

You cant have it both ways. It is either 1. the govt make it known that these institutions are nationalized because the govt (American people) are not the majority owners of these institutions and set up the rules of governance. Take control and do what these overpaid management types are not willing to do in their greed - like fire the lot of them- break apart these companies into smaller institutions and eventually sell them off as separate and to remain separate companies or 2. let things go on as it is at the moment and in the past, where these companies continue and are allowed to continue to abuse the American peoples largesse with impunity.

People in this country need to face their irrational fear of so called big government, nationalization, and socialism. These terms are being used and interpreted negatively so that these greedy, morally corrupt/bancrupt people can continue to hoodwink the people of America while continuing to rob them blind. These greedy morally corrupt/bancrupt folks do/say/spin etc everything possible to prevent rules, regulations, oversight etc everytime there are talks about these safeguards being put in place or put in place to prevent the sort of melt down happening again.

You can't have it both ways.

It's all a ruse to get your eyes off of their real agenda, radical socialism?

I'm not a Democrat nor a Republican but this really smells.

Obama needs more Democrats to vote for his stimulous packages without reading them, like they did last time. Pre-scripted questions and answers, picking on those he wants to ask, knowing the answers because he has already been given them. Never stumble simply trying to be honestly answering....hmmm, smell a skunk?

AIG is owned by France and Germany...all of the stimulous money that went to them was immediately transferred to those two countries, and the only money that stayed here was the bonuses paid to incompetent execs.

The money that is going to solar power and wind energy? You guessed it. All the contracts went to foreign countries, who may have hired a few American workers here but the profits all went overseas and out of the country.

Tell me again how incompetent your House and Senate are when your elected representatives vote on a Bill without even reading it. Katie and Oprah have the big "O" every time they think of Hussein Obama, and he isn't even Bill Clinton.

Are Americans being herded like sheep? PR, SPIN, and Hillary was right. He gives great speeches, in fact he waves the same fingers every time, gestures eloquently...but there is nothing behind it except Chicago style politics. Vote early, vote often, don't read the ballot, Jimmy Hoffan and Al Capone will fill it out for you when you leave. Can you say mafia, mob...and in this case extreme socialism and maybe even communist ties? Holy molly.... Apparently they believe Americans, the lower class, are that stupid, and they are right!

Excuse me,,but why does Obama get the blame for the mess created from the past 8 to 10 years . You are right in that congress has a big hand in this with the deregulation of the financial system..and voting themselves pay raises without concern for the folks on the street...Maybe now, when the next election cycle start you folks will elect new people into congress instead of the same old ones as before.

Obama sure is spending the money Ivan and driving us further into the ground

Bush/Cheney are the ones thas pissed the money away with the first handout, they ran this country into debt with wars and now you are blaming President Obama for doing what he thinks is best to fix their mess. Let's see what any one of you would do better.

Ivan - Because Obama did not send a "stimulus" bill to congress. He simply sent a dollar figure and a timetable. The congressional staffers are not skilled in stimulus targeted spending so they pulled simply spending projects from the shelves. This is a SPENDING package not a stimulus package. Nearly 25% of the $797B is not even scheduled for spending until AFTER 2011.

We do not have the money to fund SPENDING today. The ONLY justification for federal spending is to jumpstart the economy and that means targeted stimulus NOW. How about a $3000 credit for buying a new car and more things like that that put people and factories to work. That is stimulus. That is NOT what we got.

Obama is not getting the blame for the last 8 years. He is getting the blame for his plan to socialize our country. He is getting the blame for spending more money in 50 days than any other president. What I think Obama and his staff don't realize is that the "populist anger" is not directed toward the banks. It is directed toward the bailing out of the banks. Since the banks did not bail themselves out, we can only blame those who did. I was against the first bailouts under Bush and all subsequent bailouts under Obama. Regarding the anger resulting in "blaming all who are power": Isn't that how Obama got elected in the first place? People were dissatified with President Bush and the media and DNC painted McCain as another Bush, so Obama got elected. Those of us who knew that McCain was an entirely separate entity from President Bush didn't buy it. Too bad for all of us.

At least 48% of Americans that voted thought they saw this coming and they are pissed.

52% voted for obama inspite of his socialist rhetoric while on the campaign trail. They are getting what they deserve. Now the messiah is telling us we have to 'swallow that bitter pill' and pay more in taxes while he shovels more money into the fire. He said he would bring change. He just didnt tell us it would be a change for the worse.

The great IRONY is that Bush the neoconservative spent money like a big government liberal, and so what do we do? Nominate more neocons and elect liberals. Elect a paleoconservative next time people!

At least 48% of Americans that voted thought they saw this coming and they are pissed.

True, but hell, a lot of them we're pissed voting because they knew their man wasn't really a Republican either.

No body in any of the blogs has ever praised Bush for the last 8-10 years worth of leadership. His leadership left a lot to be desired. However, the leftest commie zealots keep referring back to the last 8-10 years. Let me make it clear once again to those who refuse to listen (zealots). The housing crisis was the straw that broke the camels back. The housing crisis was begun under Billy Bob Clinton and reinforced by looser Mr. Frank. Repeatedly the Bush adminstration warned Republicans and Democrats alike of the impending danger, to which it fell on deaf ears (by both Repbublicans and Democrats). Mr. Obama gets blamed unfairly sometimes, but only because he allows Ms Pelosi and company to ramp up the spending. Necessary you say? Perhaps, but reforming the health care system and the many other items at this time isn't. I repeat isn't. This is a problem in and of itself that will render even more spending of money that doesn't exist. Why now you ask? Because if the politics continue there is a good chance the Dems won't have the majority or loose many seats come next election. This is why you are being bombarded with the spend, spend, spend. This is why Mr. Obama will get blamed.

amen! yes - yes - yes

Excuse me,,but why does Obama get the blame for the mess created from the past 8 to 10 years

Because he took the job and had convinced everyone he had the answers that's why!! He knew what he was getting into and promised the people real change! Bull!! What we are getting is the same old Washington with a few different faces!!! Obama had his chance recently to send a message to Congress by vetoing a spending bill with 9000 earmarks in it and instead he choose to support and defend them!! He is not change but a phony and it only took a couple of months in office for him to show his true colors!!

Obama voted for and cheer leaded the bailouts. He got more money from Wall Street than any other candidate. By the way, this collapse has been in the works for the last 20 years. AND where is the money now??? It is being used to buy up smaller banks and it not being lent

You are all leaving out Obama's concern that American anger will disrupt his agenda. His agenda is to sink America into Communism and the New World Oder. You Obamanites can rant against the truth until you turn blue and it wont change that fact. More people are realizing the truth every day.

Haha. Ok, so I agree with his "socialist" agenda which is why I voted for him. As far as the bailouts go, I don't feel right about it, but I'm not an economist.

Wait, wasn't the republican party saying it was a good thing to give to the banks because they create the jobs. Giving the money to the people to buy consumer goods sounds like real socialism.

President Obama's Agenda was never America it is global!! His body language during his campaign showed his heart was never this country!!!! Break us and Bankrupt us. Because truly we are the only country with three classes. The rest of the world there are two rich and poor even in Socialist countries.

Dawn,

If you go back and look a the first bailout, the majority of Republicans voted AGAINST it. It was the democrats that voted for it and pushed it thru. Bush just happened to be president, and was convinced by the democrats that this would end the crisis.

This is everybody's mess. People have been partying like there's no tomorrow. Consumerism has consumed us. Yes, people still need the basics to function in the system. What is called for is a radical change in the average person's thinking. We cannot keep using up the world's resources and poisoning our environment without dire consequences. Everybody needs to learn to live frugally. This means an economy that is more fairly shared. No more super-rich guys. No more super-poor guys. It means be satisfied with enough to eat, a place to sleep, clothes on your back, and a means of transportation, which may mean a bicycle or shoes. Energy is the crux of the problem, combined with our seeming inability to address the environmental concerns. If we don't do something about the pollution soon, any amount of money won't matter. Money can't build a tree. Trees moderate the weather and produce oxygen while sucking up CO2. The recent ice storms destroyed millions of trees. We really need to sit on our haunches and think about this before we move on. We need a better plan, but everybody needs to give their input to the White House. A national "think tank" is in order, here, folks. Somebody is liable to come up with a really good idea! Everyone needs to calm down and get to work on their own contribution to the problem. I say.

Haha. Bush signed the bill because wanted to and has executive authority. He could have vetoed, been overrided, and saved face.

I'm hearing a lot of double talk. Don't give bailouts to the banks. Don't regulate banks. Do help banks because they are the job creators.

Honestly, the people who are calling for indictments of wall street fat cats is correct. I think if we all sat down for two days and read who is really to blame. Yes, both parties didn't help the matter much, but wall street took over from there.

Google 30 to 1 leverage. I shouldn't help stir up the fodder. We are all falling for the straw man arguments (minorities, illegals, welfare, earmarks -less than 1% of budget deficit). We fight amongst each other over less than 20% of the wealth while the top 1% share 80%.

Google Plato's cave next.

Ivan - Obama's plan to limit bonuses is even worse than the one the Senate drew up. His only affects people making cash bonuses with salaries over $500,000 which is about 5% and most of them aren't getting cash and would still get the stocks as usual. Anyone making $499,999 is not affected at all. So, all they have to do is take a $1 pay cut and wow, bonus city! What should be done, is very simply outlaw all bonuses for any company accepting a bailout and no exceptions.

Now if you look at this emmission comp tax, you will note there's not exception to your own increase in electricity or the results it will have to your grocery bill and gasoline prices. How fair is that?

You people who continually blame Bush for all this have no credibility. You are only show your ignorance, or maybe your addiction to "sound bites". I'm not saying Bush didn't have a hand, since he was our President and the buck stopped with him while he was in office. Unless you're willing to at least add Congress, Bill Clinton, Fannie, Freddie, Greenspan, S&P, SEC, and Congress (again) to your "hall of blame", you have no idea of the magnitude of the problem. But of course, it's much easier to just blame Bush, rather than research and learn about what has been going on. (Lazier too). Maybe you should ask yourself where the buck stops now..........

Greeting partisan followers, I know a high percentage of the herd is offended by truth however the truth is the truth has nothing to do with partisan rhetoric. The truth is if voting for a politician could enact change then voting would be illegal. Neither side has any goal but the perpetuation of the system and gathering power using taxpayer funds to make the case that they care about our problems which in my view is not demonstrated by their record. The citizens that supports this perverted sham are either misled or hoping to sup at the public trough. Look at what is happening compared to the campaign talking points, its another flim flam, just like the ones we have gotten for decades. The rather pathetic defense or outrage of the corrupt system is a demonstration of the futility of real change in a partisan environment that is entrenched and unwilling to change.

Obama cannot be blamed for the past, but he sure in the hell talks out of both sides of his mouth. No more "insiders", no more lobbyist on staff, no mo pok! Queen Nancy is running the show for mouthpiece man.

Populist holding Mouthpiece Man and Congress accountable - just unthinkable that we would harbor such extreme expectations

Posters, like salem1692, need to stop blaming Bush for everything. The first bailout/stimulus, while enacted under Bush's term, was passed by the Democratic Congress, and Obama was directly involved, as Bush made it clear, before, during and after, that Obama was the incoming president, and needed to be involved. Obama approved the 1st bailout, and shares in it's responsibility.

How far does this congress, and Obama's poor economic policies have to go before people wake up?

News Flash, GW Bush is now to blame for destroying Atlantis. He has it hidden somewhere near his Crawford Ranch. That's how ridiculous the blame-bush-for-everything argument is to me. Mind you he is no saint, and I'm glad he's finished, but reality check people, get your heads out of ... the sand.

If this does not get everyone mad as hell, then nothing will;

THE BAILOUT MONEY IS CONTROLLED BY THE FEDERAL RESERVE, A PRIVATE BANKING GROUP; congress put very few restrictions, when the Treasury backed the loans made by the Reserve banks. Most of the loans are going to cover the insurance guarantees to foreign banks. The U.S. citizens IS NOT, receiving the benefits, only the foreign investors.

Its time to clean house in Washington ,

Dawn - Study up a bit. No one said that banks created jobs. The banks received a bailout b/c some argued that the financial system was about to crumble.

Now, I will give you that there is a link to jobs, but our life as we know it (including jobs) would end if the financial sector did in fact crumble. Your comments are mixing the financial bailout and the stimulus package - two vastly different things and different arguements.

Liberal congress has SCR.WED the nation.

Obama's plan is to spend as much money as he can within the first few months. Then, in four years people will forget all about it. But, I sure won't!

President Teleprompter first says the economy is in such dire need we have to mortgage our nation and our children's future in order to save ourselves. Then he hands our tax money to foreign nations through his friends at the corrupt global banking institutions. Now the teleprompter tells him to say the opposite. He needs you to believe you are going to be doing well so you will not notice he is going to tax health care. If he has convinced America that we have to have universal health care because we can't afford it, how does he justify taxing those who are managing to keep some reduced health care with their employers? The middle class is always eliminated under Communism. The teleprompter also told him that 95% of Americans would not see a tax increase. Don't you just hate those lying teleprompters?

salem, for your info, bush signed the first 350 billion in, then refused to sign in the second 350 until obie requested it. so thats 350+ 787+his further budget billions and the next wave that will come soon, bush screwed us with the first 350 so lets not leave him out , but obama has left bush in his wake as he spends our kids money on bailouts. no way should we have ever bailed any failing banks or ins out. but because barney and co set up the housing affermative action so all could own homes they couldnt afford we are here. if you are in the blame game( which you obviously are , you are in for a losing battle, remember, obie has only been in for six weeks? you better choose a better battle to fight for your potentate than that one. for your info a billion seconds ago it was 1959, in case you have been led to believe this is a flexible number. yea, so the best of luck with that.

They're spending money like drunken sailors, except it's your money and your grandchildrens!

I'm not a Democrat nor a Republican but this really smells.

Obama needs more Democrats to vote for his stimulous packages without reading them, like they did last time. Pre-scripted questions and answers, picking on those he wants to ask, knowing the answers because he has already been given them. Never stumble simply trying to be honestly answering....hmmm, smell a skunk?

AIG is owned by France and Germany...all of the stimulous money that went to them was immediately transferred to those two countries, and the only money that stayed here was the bonuses paid to incompetent execs.

The money that is going to solar power and wind energy? You guessed it. All the contracts went to foreign countries, who may have hired a few American workers here but the profits all went overseas and out of the country.

Tell me again how incompetent your House and Senate are when your elected representatives vote on a Bill without even reading it. Katie and Oprah have the big "O" every time they think of Hussein Obama, and he isn't even Bill Clinton.

Are Americans being herded like sheep? PR, SPIN, and Hillary was right. He gives great speeches, in fact he waves the same fingers every time, gestures eloquently...but there is nothing behind it except Chicago style politics. Vote early, vote often, don't read the ballot, Jimmy Hoffan and Al Capone will fill it out for you when you leave. Can you say mafia, mob...and in this case extreme socialism and maybe even communist ties? Holy molly.... Apparently they believe Americans, the lower class, are that stupid, and they are right!

Watch what you wish for, Your great grand children could carry that burden.

It is important to recognize and establish responsibility for the cause of this economic disaster, when at least some of the culprits are still at the helm.

Some are partisan liars who would misdirect blame even if the culprits were eating their young (as they really are, financially)

OThers simply are unaware

In the interest of bipartisan action to eliminate at least ONE of the many SOB's who did this to us all, PLEASE take 9 minutes to watch the C-SPAN recordings of congressional investigations into the root causes. SEE BARNEY FRANK IN A STARRING ROLE!!!

http://www.youtube.com/watch?v=_MGT_cSi7Rs

Be not partisan, but do be INFORMED, and I would not presume to tell you WHAT to think about this, but please THINK

ANd thank all of you for your time and interest in OUR future

Happiness begins when expectations cease.

Bush told congress 19 times that Freddie and Fannie were in trouble, congress (both republican before 2006 and dempcratic after 2006) ignored him. Frank is still in congress and should be voted out, the guy at either Freddie or Fannie (I can't remember which one) was his boyfriend and there was definately some pillow talk going on ... look at these people's financial records and you will see where the money goes.

Term limits but be mandatory and people in states need to wake up and look at who they are electing.

I agree but you should not confuse the people with facts. This is about Socialism. The more the Democrats can make the people dependent on them the better their chances for control are. I believe even a lot of Republican are buying into the notion. Term limits on congress and senate is what we need. I am going to throw out a WILD notion and ask what if the terrorists on 911 whould have struck the house or senate instead of the twin towers? Would America inproved for the short term by temporarly getting rid of the self serving corrupt politicians on both sides? I believe so, at least until the replacements were poisoned by self interest.

This is about how Bush put rich in power to control us and put the average man back in to slavery and that way we become dependent on the rich. Obama is trying to stop it so we can remain a free nation with power by the people.

huh?

Mari-,

Are you a third generation welfare recipient?

I don't know about you, but a company (some rich people) is giving me a paycheck and health benefits every week and I am grateful for that. I don't recall a poor person ever offering me a job. We are dependent on the rich because they provide income for the average American. Whether you like it or not, that's the way it is. Being successful in business is not a sin.

Mari - you've got to be kidding, right? You are joking are you not?

I hope so otherwise you look awfully foolish!

I think maybe Mari has had TOOOOO much of some substance!! Get a grip!!! A free nation with power by the people? Put down the crack pipe Mari!!!

that'll be eaten up when your electric bill goes up $1400/yr to pay for this cap and trade bill....hear obama has freinds in chicago ready to make a bundle on this, so of coarse obama is for it...

katlin - You are spot on. The cap and trade (of carbon credits) is a $600B tax on coal mined in the Ohio Valley. Who uses that coal? The electric utilities who pass their costs on to the consumers - Obama is simply planning to lay another TAX that will not be called a tax on all families in this region.

This tax can be dropped in the next term with a new president.It appears to me msnbc seems to now be going against obama,very slowly in fact, in there news.Could it be there opening there eyes to the mess they helped create? I have noticed more and more that obama isn`t so much the messiah anymore I can`t wait till these obama loyalists get there electric bills and they have to wait months to see a crappy doctor from another country at there local hospitals.He`s going to mess up pur health care soon People the world round try to come to america to see our doctors and surgeons obama just can`t wait to to get his hands on what is good to make it bad!Throw him out!!

You need to be carful where you spend that money. They did not lower your taxes only your deductions, next april they will want a check, put that money away to pay your taxes next year.

Why should obama care about coal miners in the Ohio valley and Appalachia? We all know they are just a bunch of bitter white people clinging to guns and religion.

Obama has already flipped flopped on every promise he made.

I agree with you tom - but alot of them voted for him anyway.

If they had not added tax to beer at least you could get a six pack of good beer.

Please be aware that this so called "tax cut" ($8.00 - $13.00 a week) is NOT A TAX CUT.

It is a reduction in the withholding tables, so the $8.00 - $13.00 a week is part of what you normally would have been withholding. The tax tables are not being changed, therefore you will still owe the same amount of taxes and if you withhold so that you come out "even" at tax time, you will wind up owing taxes next year equivalent to your "extra money" in your paycheck.

Not only that, but if you have your w4 figured so you won't owe more money, it may result in you not having enough deducted. You are supposed to have at least 90% of the tax you will owe deducted, or there is a penalty (I think10%) on the amount not witheld, up to that threshold of 90%. So you might owe the $13 a week, times 52 weeks ($676) and then have to pay a penalty on something close to that number....10% is $67 MORE you might have to pay, instead of this shell game of a "tax cut".
Hey Obama..........BITE ME!

Where has the military been forced to take a pay cut? Please post a link.

obama is going to ask military to pay for healthcare ins..and he's going to tax everyone else's.....liar obama....

Minan59,

What link is my son's mouth when he called from Korea yesterday to annouce the 3.9% raise is now 0.23% because Obama cut the raise. It was in the Air Force Times. Look it up or I'll find it for you.

A proud mom of military son!

Well that aughta seal the deal that Ogodma has planned. We won't have young men and women signning up to serve our country and we will be ready for the taking. The whole congress,senators, and the presidential cabnet are narcissitic nightmares and need to be removed every last one of them. They are a disgrace to this country.

They won't be signing up because no one wants to die in a losing war for nothing.

My brother just got out. I couldn't be happier.

They stopped there pay raises and are not paying them for involentary exstensions. The people in uniform deserve pay raises period they risk there lifes and get paid poverty level wages.The us government owes my brother 12,000 usd in back pay that he will not get any time soon

Mom 411. Thank your son for his service!

Mom 411,

Thank you for having such a wonderful son that would put his life on the line for our country.

Dawn,

Thank your brother for his service.

Reducing a pay raise before it goes into effect is not the same thing as taking a pay cut.

Okay can we call it a paycut., when he doesn't get it?
It's good to stand by your beliefs, but that one was weak

They had to cut the pay raise for the military, so they could get their 17% pay raise.

w w w r e t e a p a r t y c o m spread the word!

Whatever --

I think parties should be planned all over this nation on July 4th like the illegals do their they think they have rights protest in may a day without illegals. I think somewhere we aught to organize aonther hands across America to protest the thievery of America. Obama is violating the constitution at every turn and he isn't worthy of the prsedidency he is a liar and betrayer.

If you sheeple really think sending tea bags to your reps is going to do a single thing to help these reps see clearly, you are sadly mistaken. But go ahead, send them bags by the millions, they will find their way right into the nearest trash can. A better bet would be to send each rep a BULLET.

Really...what is sending a tea bag to Washington DC going to do?

Mainstreet is in real crisis and all the government can think about is how to bail out the next wreckless bank or insurance organization.

People should be taking to the streets in legal protests!

Send yourself. Use your "tax cut" to pay for the gas. And tent. :)

Palin aint sounding so bad now is she? She took red ink to blue ink in Alaska. She had allot more experience then the golden boy But the media robbed us of this great down to earth woman who can count. When this woman gives a rebate it's a surplus. We could be on our way to being rich right now instead we have incredible debt. PORK!

I like Sarah Palin. She's real mavericky, she can see Russia from her house and she made Tina Fey famous.

laughable simply laughable isn't it ?

We are the VICTIMS; no culprit would out right expose the cards~ They keep em burried until we are caught off guard.

But let's not push them over the cliff with confiscatory taxes and regulations.  Like the cap and trade.

If government had to take a pay cut then they would care about main street. While we are all cutting back they are spending as if they have money in the bank eating beef costing $450.00 a lb. from Japan no less and Pelosi asking for a new jet and all of the pork and earmarks being met in the stimulus. The taxpayers are forced to fund governments salaries, benefits, parties and wasteful earmarks spending. Government should have given the bailout money to Main St. and the money would have trickled up as we pay our mortgages, credit card companies and stimulate the economy. I am disenchanted with the Pres. saying he was giving a tax break to those who make less than 250k and lied about it, it is not a tax cut, the tax rate is the same, they are just having employers reduce the "withholding amount" from your paycheck. Not to mention the state is increasing our taxes at every turn. We the people will continue to get hosed by government and big business, while government hoses big business and main st. , big business raises their prices and they both hose main st. I was forced to take a 20% paycut and now I'm thinking of taking a job with the federal government. Then at least my salary benefits etc. would be protected. If "you cant beat em join em"? maybe! Granted AIG should not be giving out retention bonuses with govt bailout money, but at the same time employees are bearing the burden in this economy when we are not the ones who caused this mess.

What happens when the money is gone? keep feeding it? Trickle down is mathmaticly impossible because the bottom cannot continue to suport itself. It is all of the small businesses and partnerships that pay and continue to pay. That give jobs and spread wealth without costing us money. Go back to school and pay attenion in math class! Red ink has less value then blue ink.

it's called obamas great ponzi scheme..he's done more damage than madoff..

katlin I`m not sure if you know that Madoff is a democrat!!

John, I agree that this country would recover more quickly if the common people were to receive the money instead of the fat cats. I would suggest giving each household $200,000 with a time limit to use it. Not only could it be used to buy goods and pay off bills, but to allow people to put food on their own tables, buy their own fuel and insurances, and pay for their children's education. Maybe some would even pay for their houses, while others would buy homes and vehicles. A few may even start their own small business to provide for their own futures. As demands for goods and services rise, factories and service providers would need to employ more people, which would continue the ability for families to provide more for themselves.

As more people became financially independent, the need for public service and assistance would decrease, lowering the dollars the government doles out monthly. There would also be an almost instant return on the money spent to stimulate the country in this manner at local, state and federal levels. New homes and businesses would require permits, licenses registrations, etc.. Income tax withholdings would increase country wide.

Sure, there are some that would misuse and abuse the stimulus, but that would be no different than what the bailed out companies are doing. Maybe if all receiving the money were given a period of time before they could seek any public assistance would help to deter this. Just maybe this country could turn itself around from the bottom up, we see it doesn't work from the top down.

P.S. I do take objection to this news article referring to our president as MR. throughout instead of President. I am not sure that what he is doing will work, but do know that something has to be done. I feel bad for him and this country if AIG has actually done their acts underhandedly. I dislike seeing anyone ridiculed for trying, and that is what I feel AIG has done to all of us.

"it's called obamas great ponzi scheme..he's done more damage than madoff.. " (katlin)

The entire 'government tax and spend' mentality (and actual fact) is nothing more than a Ponzi scheme. With a bail-out and budget that is TEN TIMES the amount of actual money in circulation in this country - and on top of DECADES of past practices of only slightly less - all that is happening is shuffling a little money around to cover "returns" (or debt): the rest is just numbers on paper.

Sheba

I wonder how you felt about the terms used by this site to describe Bush, or worse yet, the terms used to describe senator McCain, a genuine lifelong patriot who has demosntrated unquestionably his committment to give even his life for this country

You Hyocrite

Sheba, they referred to him as President Obama when they first referenced him. After that they called him Mr Obama. That is the correct protocol when referring to the President. Call him President first and then you call him Mr. No slight there.

You're a little late--the worst was George Walker Bush, 41.

Not only the WORST, but he's nothing more then a puppet for Kennedy, Barney Frank, Polusi (sp) the worst house speaker in the world. Take a about a flip-flop~ Were did Bush ever in his 8 years allow congress "have himsign a bill" he truly opposed? The TWO FACED BO signs as he expresses his discord in doing so! THEN DON'T SIGN IT IF THERE'S AN ABUNDANCE OF EAR MARKS AND PORK ATTACHED!

Mom and Kevin,

Grow up. President Obama has been in office two months, and he inherited a unique historical situation without precedent (and with no tested solutions). Can't you see how silly the two of you are to draw such sweeping conclusions so early on? Our dire national and local financial situations aren't made any better by people getting stupid.

Lune

obama is the worst person we could have in office at this time....maybe if we had a surplus to spend but now we're in trouble and obama is dragging us down all the way....he'll go down as the worst and most incompetent pres ever...

Oh please; OPEN YOUR EYES and EARS. You must have a strong financial

portfolio! When it's gone maybe you to can ask for a bail-out! I lost my

job 2 weeks ago due to "down sizing" and financial losses. Look what

Obama is doing with his ear marks and pork, that

he himself stated "dead set against them"! As for the name calling it just

mirrors your true self!

People are no longer stupid; they are sitting up and paying attention to

the current events and are feeling the wrath! We Americans are trying to

stand up for what is rightfully ours (ie a job, paychecks, or

just surving the jungle of congress!

Bush was not perfect, but he didn't;t screw us in

less than two months either! So eat your veggies and you to can grow

up. I'm a big girl now!!

Not a big enough girl to use proper syntax, punctuation, and grammar though, eh?

Blady,

you have no idea what you are talking about.actually the worst President ever ( in recent history) was Jimmy Carter.......and "O" is Carter to the 100th degree.....watch out America.....you elected a talking head and a wagging tail.....................

pilgrim, get a life, your nonsense to bring someone down by the way they compose a sentence is an old physiological trick, to lower there self esteem and make you feel your on a pedestal. But soon to fall off!

pilgrim101

Stop being a jerk. This is a place for ideas and thoughts, not BS criticism about people's writing. Looking back and reviewing your history of comments you appear to have some real gems also. We all do.

Funny how writing skill issues suddenly become important when the message does not correspond with your liberal politics. If you cannot understand what is being written despite it lacking “proper syntax, punctuation, and grammar,” you have problems far more serious than writing skills.

Give both writers and reader a break.

"Worst President ever," that is definitely an ill advised, ill gotten, and extremely skewed opinion; especially since President Obama has yet to reshape policy, foriegn relations, and economic power after only 2 months in office. Remember, he is cleaning up the debocle formed and left by/ under former President Bush's watch and administration.

LuneKeltkar; why is it that we're continually hearing "the old ways don't work, anymore" and our current situation is "without precedent"? This is NOT new. In fact - except for the banks failing before the stock market drop, the past couple years are following a script from 1928-1940 - right down to continually mocking and blaming the Presidential predecessor and pursuing much of his "too little-too late" fixes.

Now - same as then - our socialism and spending grew enormously: to bail out the economy. Then - same as now - there is no PROOF that this approach is best: only that we eventually came out of it.

Good point Aleuicius. This administration would like all of us to believe that this is "without precedent", but Obama is just too young and inexperienced to remember the 70's and the only thing he can think about the Great Depression is 'oh goody, I'm going to be the new FDR'. This blame game is encouraged by Obama because it does fit into his social/marxist plans. So does class warfare, wage and price controls, a feeling of helplessness from the public, etc. This President is not totally stupid-he's just extremely scarey. People nedd to wake up!

GopMom, I thought he was the new Lincoln? Now I know. He's the new Uber-President.

it's funny that china also passed a stimulus bill and guess what..it is comprised of tax cuts NOT spending more...

Deputy, I agree. If China does want a higher interest rate our government will understand how the citizens feel when their credit card rates shoot up to 28%.

The people will blog and complain and maybe contact Congress but if we even think about massive demonstrations I do believe the new civilian army (ACORN/Greenshirts) will be in place to make sure that things don't get out of hand.

Too bad BO and his fancy administration don't take some cues from China. Aside from having a strong economy and a huge national reserve, they actually impose the on regulators who are found to be guilty of fraud.

Wonder how fast the Fannie & Freddie CEO's and fat Dems would cough up their dirty cash to save their necks? But I guess BO would have to be the Pied Piper and lead his rats off the cliff, since he's as guilty as the rest.

wow...newsvine sucked my link right out of there. In case anyone's wondering i had a link to MSNBC's article: China's top drug regulator gets death sentence

blady,

That is what i want to know too.

I'm thinking something is fishy here, and the Fed should have negotiated better.

What makes you think Bush was the worst. Obama lies every chance he gets, oh I mean every time he opens his mouth. Does he not realize trying to please the upper class will still get him hammered!!! Needless to say wanting to tax our health-care is like the icing on the cake. OB still has more tricks up his sleeves! Can't wait for the next increase in my simple paycheck (If there's one left). Everyone blames Bush for a lot of crap. Take a step back and remember who the real culprits were, not Bush!!!

It is my understanding that the contracts for the bonuses were signed just before this stimulus bill was signed. The first bailout was a done deal, & I think they were counting on the second one bailing them out, AGAIN! Makes since Congress would do this, as their pension plan is under the auspices of AIG.

By the by, why doesn't Congress reduce their pay? And how is it that they have a pension plan that allows them to receive a pension even if they only serve 1 term?

Sweet!

You were swindled. There is no fee to get your income tax refund early. There may be a fee to efile. However, if you have it directly deposited to your bank account,t here is no fee. We efiled and got our very small refund in about 8 days. No fees.

Jodi

$800.00 how did you get so much back, LOL, I'm still waiting for my $344 so that I can pay The Great State of Wisconsin $890. I may have to ask for a bailout

Rellacallo

Maybe that's what we should do, Stop Paying to the Banks that got a bailout, we have paid them already.

The folks on the dole made it possible.

Only the people that pay taxes are waking up, those that do not are still blindly following him waiting for their handouts.

do you have your tea bag ready to send on april 1st?

why not starting today...obama owns this one...but of coarse he'll look around for someone else to blame..he can't take the heat..he's incompetent....

That was a terrific show, and Obama can't see the forrest for the paybacks he owes! I

will serve tea myself the day he claims responibility for his ACTIONS! Well put rondaa!