Do you think the govn’t should give Wall Street the $700b?

The economy will not implode on this, they made a giant mistae by bailing out the things they already did, do not let them go the final step. Do not let them fear you into thinking this is a must pass bill.

They sure do make it sound like it’s ready to implode. but I’d say it depends on exactly how many businesses actually rely on credit. Auto dealers and restaurants are two big ones. Do airlines buy fuel on credit or do they pay cash? We’ve all seen certain sectors get depressed, high tech is notorious for it but this different. Credit may be used by a much a larger number of sectors. if multiple sectors start to fail simultaneously because they can’t get credit for daily operations then things could go from bad to worse pretty quickly.

Either Bush is getting duped (again) by those around him or there is something to his sense of urgency. One thing is for sure Mainstreet seems to think it will be business as usual.

Ok if there is money to be made in lending, SOMEONE or SOMETHING will lend the money.

plain and simple.

People are going to be hurt in this, no doubt about it either way, lets try to insure there is a solution to it. This buyout is the exact same thing as paying off your problem gamber’s debt to the bookie.. what is going to happen next sunday.

The GOOD in all this is people are FINALLY starting to WAKE up and notice what has been going on.

Do airlines buy fuel on credit or do they pay cash?

Yes. They pay for almost everything through credit – payroll, fuel, airport fees, new airplanes, maintanance, etc. Retail stores open/use credit lines to stock on inventory before the holiday seasons. Farmers open credit lines for seeds, fertilizers, machinery. Manufacturers use credit to buy the raw materials they need. I could go on and on all day.

I know that many business (more than should) rely on credit. I got the whole story this morning from a friend that owns an insurance agency who I called to check on my Annuity.

He explained it to me and I know that it’s bad. My point to him was the fact that being a business owner myself there is NO way that I would put ALL my money, that I’ve saved, in risky intruments that I have no control over and rely on credit to run my business.

Sure I’m not getting the best rate or return, but it’s safe.

I just can’t wrap my head around that, but then I don’t claim to know everything.

Raising the FDIC is just going to raise the amount the banks have to pay into it lol, far from a the saving grace of the bill.

I’ve heard both sides make this suggestion.

To me it’s like gambling. Don’t invest more than you can lose. Put your money in gold or silver. Something you can see.

Or simply open more checking accounts.

and rely on credit to run my business.

Credit is not a bad thing. For example, you own a bike store in Town A, which makes you $10,000 profit per year. You see that in Town B there is a big market for bikes, you coud make $20,000 with the same inventory, but in order to open a store, you need $100,000. You can either wait 10 years and save your profits to open a shop in Town B or take a loan which would cost you $10,000 per year. If you take the loan you will not only make and extra $10,000 per year, but you will create twice as many jobs in the process and double the size of your business.

If you don’t take the loan, you will not create the jobs, the bike company will not sell more bikes and you will not only miss on the oportunity to make extra $10,000, but you will also wipe out your profits for the next 10 years, since you will be saving this money to open the shop in Town B.

I agree, but look where it’s gotten us today.

My only point is that just because it’s that way does not mean that it should be that way or needs to stay that way.

Sure I’d love to own 10 companies, but I’m happy with my one. ” title=”” class=”bbcode_smiley” />

I agree, but look where it’s gotten us today.

Yeah – the most powerful economy in the world ” title=”” class=”bbcode_smiley” /> What’s gotten us here today are the mortgages, not the business loans. The problem is that because of the mortgages the banks don’t want to take the extra risk with the business loans or they do it at a price of opening the shop in Town B will cost you $25,000 per year.

You need the loans in order for your economy to grow. If there were no loans, we would still be driving the Ford Model Ts, use the Morse code to comunicate and Internet would be a dream. I want my kids to live better than I do, not the same, at best.

@Stupid 178349 wrote:

Yeah – the most powerful economy in the world ” title=”” class=”bbcode_smiley” />

We can claim that title, but IMO it’s just an illusion. Just like our so called freedom and rights.

If it is the most powerful, what is China’s that owns most of it?