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Why do we need a bill for stopping bailouts?

I can't believe people are falling for this bullcrap. This stupid reform bill is a total sham to grab more power. Obama says we need this bill so we can reform the financial sector so there will be no more bailouts. If you don't give a bailout then there would be no more bailouts. there is no bill needed to stop bailing out business. How stupid id that statement. Freddie and Fannie are not included because they are congress pets and private companies which by the way will not be included in this bill. No government (private) companies will be considered in this bill.

Why on earth do we allow this to go on?

Answer Question
 
itsmesteph11

Asked by itsmesteph11 at 12:44 PM on Apr. 22, 2010 in Politics & Current Events

Level 39 (113,405 Credits)
Answers (7)
  • Actually a "government" entity is considered "public" not private. Private is a corporation not under government control. Freddie and Fannie - as government departments are public.

    But, that' a nit-pick.

    A bill saying "We can't do this anymore" is needed because politicians as a rule can't control themselves. It's the same reason some yell for term limits. In theory we should be able to limit terms simply by refusing to vote for the same person year after year after year (meaning election years not literal years.) See how well that works for us? ;)

    I agree. No more bailouts. However, I also agree that getting the Feds to give the notion more than lip service will be heavily influenced by public perception and opinion polls. "Oh the people fear xyz company tanking. well let's bail 'em out. We can excuse the backtracking. .."
    Anonymous

    Answer by Anonymous at 12:57 PM on Apr. 22, 2010

  • So let me get this right.... The bill would stop the bailing out companies like banks or car companies. Doesn't that mean "OOPS, we made a mistake!" ????

    The bill would still ALLOW the bailout of government controlled companies, LIKE GM ????
    mancosmomma

    Answer by mancosmomma at 1:11 PM on Apr. 22, 2010

  • Just more 'do as I say, not as I do'. I thought capitalism was supposed to weed out the companies that spend until they require a bailout. They should have failed to begin with. It they would have kept their hands off of it all, capitalism would have worked.

    QuinnMae

    Answer by QuinnMae at 1:23 PM on Apr. 22, 2010

  • Absolutely agree with Quinn
    tnmomofive

    Answer by tnmomofive at 1:24 PM on Apr. 22, 2010

  • I agree with Quinn as well. Gov't intervention is the problem, not the solution.
    Carpy

    Answer by Carpy at 4:56 PM on Apr. 22, 2010

  • General Motors just said they are ready to PAY BACK their bailout money. Didn't anyone read about that? It works quite often.....although I am sure you don't want to hear that.
    Anonymous

    Answer by Anonymous at 10:10 PM on Apr. 22, 2010

  • Um anon 10:10 maybe you need to read because they have not quite paid it all back.
    Anonymous

    Answer by Anonymous at 10:43 PM on Apr. 22, 2010

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