Not four...try 100's...or even 1000's.
You must not have read the article - they are proposing to create a PERMANENT agency, I'll say that again - permanent - agency to ease banks when they have "unsellable" instruments and portfoliios....ergo - your tax money will continue for the foreseeable future to bailout ANY bank that is about to fail having too many bad loans for anyone to be interested in buying.

And guess what else - THEY ARE PUSHING THIS THROUGH AS QUICK AS POSSIBLE before Congress ends for the elections...that's right - no need to take their time with this - it is more important for them to have time to campaign - so the best thing to do is to simply bail out ALL OF THIS.

And another point - anyone want to argue that Republicans are for smaller government???
The FED just effectively became a fourth branch of government - only F A R more powerful than the legislative branch - and they are not under the same checks and balances as the other 3.

This makes the 2nd vast government agency created by this President.
Only this has, with impunity, total access to taxpayer money to bail out the largest and richest corporations in this country when the greed of the CEO and top management fucks up so bad that they become insolvent.
You own a small business? You have to fight for every dime you make?....too fucking bad...You have a huge giant multi-$billion corporation? You cheat the company, enrich yourself with over $100 million dollars while destroying the company?...no problem...the government will take money out of the pockets of every American and make up for your dishonesty...

This is no longer the America we once had...argue with that.

Agreed. Good point.

Is this another right wing argument against government itself or is it a more central one against big money establishment politics?

WE HAVE A WINNER

Winner of the most bullshit line by a politician in the history of America:

Attached Images

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Next up would be whichever congressman I saw on last night which said its all the presidents fault, because congress doesnt know anything unless the president tells them. Somehow they can have hearings on which shampoo the president uses, but not on the companies that they sponsor.

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http://www.fairtax.org

Elminate all taxes on income and replace with a national sales tax.

I don't think the crisis will continue indefinitely and this crisis isn't exactly common.

__________________
"Give me your tired, your poor,
Your huddled masses yearning to breathe free,
The wretched refuse of your teeming shore.
Send these, the homeless, tempest-tost to me,
I lift my lamp beside the golden door!"

Here we go, the do nothing congress--lead by Democrats--with Harry Reid democrat senate leader stating yesterday--that "he really didn't know what to do about the insuing financial crisis in this country" threw his hands up?

Of course, this while the democrats in congress were using Freddie Mac & Fannie Mae as their own personal piggy banks--while looking the other way after warning, after warning, after warning that these two government agencies were in trouble. John McCain is on congressional record for making this warning in 2005-asking to reign them in..

At any rate President Bush, after meeting with economic advisors & Barnake--has made an unprecidented move to buy up the bad paper of these mortage loans. Stop the short selling on Wall Street for two weeks. Once these properties--gain in value we hope to recover this bailout, along with the loan to AIG.

Now Barack Obama is up there bashing "lobbyists", who created this mess--along with a more than willing congress. This while he is the second largest money taker from these two agencies. Two of his campaign managers are responsible for these failing government agencies--whom also walked away with MILLIONS!

UNBELIEVABLE!

While I totally agree the bailouts are 100% bullshit, and we should never have gotten to this point, it does seem like they are somewhat of a necessity now. Its kind of a catch 22, the bailouts are now necessary because the big corps. knew before this mess that if it got to this point the bailouts would be necessary. Only question I have, is why isn't the Gov. charging interest on the money it loans to these banks? If it did that, at least the taxpayer would get something out of it.

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"Democracy is two wolves and a lamb discussing what's for dinner.
Liberty is a well armed lamb willing to contest the majority decision!" ~ Benjamin Franklin
"Diplomacy is the art of saying Nice Doggie! while you're looking for a rock. ~ Wynn Catlin
"There are no innocent civilians." - Gerneral Curtis Lemay. A.K.A Bombs away Lemay

Since financial panics like this, or worse, used to occur regularly when the government would NEVER bail out the banks, I don't think you can say that.

Now that's a REAL good question.

I like that idea.

They should be corraled and set on fire.

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Iam, you know what the difference between a socialist country and a capitalist country is?

In a socialist country they nationalize the successful businesses.

__________________
"Jesus said: I have cast fire upon the world, and behold I guard it until it is ablaze."
Gospel of Thomas

Gee I wonder when that happened before.

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"Jesus said: I have cast fire upon the world, and behold I guard it until it is ablaze."
Gospel of Thomas

I heard on the radio that they are charging AIG an 11% interest rate on the loans.

"The interest rate the government is charging AIG for the loan is high — 11.5 percent. Because the government can borrow money right now at around 3.4 percent, taxpayers stand to make a handsome profit if all goes well.

The government is first in line to be paid back on the loan, which is backed by the assets of the entire company.

Key to the U.S. being repaid for its loan is whether AIG can sell its assets, how quickly and for what price."

Source: Will AIG plan cost taxpayers money, or just sleep? : NPR

Also, CNN explains that there is an 11% interest rate: AIG bailout upsets Republican lawmakers - CNN.com

Let's hope this works!

What the bailouts have done is to postpone the inevitable and to excuse the greed and mismanagment of those involved. Instead of those directly involved in the respective companies taking a loss, now we ALL take a loss. Did any of us receive a check when they were making profits? No. So why should I bail them out when they make a loss. The Lehman Bros CEO made over 135 million dollars last year. IS he being forced to return any of that? Not that I am aware of.

I, for one, am tired of being taxed and forced to subsidize those who are too lazy, incompetent, greedy or otherwise deficient. The govt is not and should not be an insurance company. The govt cannot and should not protect us against all the bad that can happen in ones life. There is a finite role for the govt that has continued to be breached with recklessness. Meanwhile people like Biden urge us to be more patriotic and pay more taxes while he only spends $300/yr on charity. Ladies and gentlemen, our founding fathers would not sit for this. Look at the history of this country. People have revolted over much less. What is the excuse for the apathy of our citizenry?

Businesses fail and succeed. Depressions do occur and careless and wanton throwing of money into the financial pit will not prevent them from occuring. Our politicians can only point fingers at the opposition and other branches of govt. Does anyone think that this was a cure all? Or, that this is the end and will never happen again? If our only reaction is to vent our frustration over the net and not demand real change from the govt and markets, then we reap what we sow.

Holy hell - you can't be serious?
I don't know which is more ludicrous, the media talking heads sputtering such nonsense...or someone believing it.