Friday, September 26, 2008

“God bless America, we the people are waking up”

HEY! CONGRESS! LISTEN UP! The American People Are Not Buying It!

Genuine C-Span Washington Journal video headlines coverage and phone in are they too late?

Posted by malct @ 10:13 AM (781 views)
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6 thoughts on ““God bless America, we the people are waking up”

  • planning4acrash says:

    I couldn’t find the video on that link, but its on youtube:

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  • thanks p4ac

    the article link works ok on my kit but it’s good do have it right here

    some amazingly sensible phone ins – so, not ALL americans are stupid!

    we just don’t normally get to hear the sane ones – perhaps we’re the ones who are stupid?

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  • There is too much hysteria on this. The Americans that are rejecting this plan are not the Democratic party, who are the opposition to the government, but mainly Republican red necks who always resist regulation or government intervention. Lack of regulation is what got us into this mess in the first place. This “bailout” is a desperate attempt to hold things together. The plan is to buy up mortgage debt, which will be sold on when things normalise, some of it at a profit. This is not a bailout of Wall Street but a bailout of Main Street, peoples savings, investments and pensions. The profiteers from this debt bubble are long gone sipping margarita’s on their Caribbean yachts. If nothing is done and things go bang they will only get richer. This plan is probably not the best plan, but at least they are trying something which is the responsibility of a government. There will need to be over-sight and there is already talk of salary caps.

    To think that all this is a sinister plot fails to see the big picture of millions of individuals who voluntarily took on loans they could not pay back. Who is it that needs to wake up actually?

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  • mg said “the big picture of millions of individuals who voluntarily took on loans they could not pay back.etc”

    yeah yeah yeah not that old chestnut again

    this happened in the old days when everyone KNEW house prices only ever go up.

    they were made to feel stupid if the weren’t on the property ‘ladder’ and that what they were doing was a great ‘investment’ that would reward them with a chunk of wealth or security. Some were lucky.

    And you mg believe these sad, conditioned, vulnerable people are responsible for potentially (according to Bush and a few others) bringing about the total collapse of the global economy. yeah right.

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  • I agree mountain goat, a friend of mine has a business account with HBOS with a large sum of money in it, if HBOS had been allowed to fail they would have lost everything their business and thousands of others would have gone to the wall. The idea of allowing banks to just fail is fine in theory until you see the carnage it would cause.

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  • Interesting video, the sentiment in the US is best described as totally outraged. I think Congress (which usually rubber-stamps everything) is balking at this because they sense the mood in the country.

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