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FrustrationUser Forum Topic
Submitted by 4thstreetbully on October 3, 2008 - 9:28pm
Long time reader, first time poster. Just wanted to share my recent response to Senator Boxer. Anyone got any constructive outlets left? I'm ready to fight. I also wanted some kind of public record in case I wind up in Guantanamo Bay. Senator Boxer, I have never directly reached out to a government representative before contacting you about the bailout last week. I’ve just never felt this strongly about anything. I’ve always considered myself a true “patriot” in some sense. I’ve never fought directly for my country (but my grandfather did). I’ve always believed in the “idea of America” and flown our flag proudly. I’ve worked hard, paid taxes, saved money, and avoided this real estate bubble while others foolishly jumped in. I honestly believed that doing the right thing would eventually be rewarded. I’ve taken the high road and presented numerous intelligent arguments as to why this bailout is so wrong. At this point I feel like I’m out of options, and I’m heartbroken, so how about this: Fuck you. I hope one of your kids gets raped by a gorilla with aids. On 10/3/08 5:33 PM, "senator [at] boxer [dot] senate [dot] gov" wrote: Dear Mr. Campbell: Thank you for contacting me regarding the financial rescue legislation (H.R.1424). I appreciate hearing from you on this critical issue. The fundamentals of our economy have been shaken, and Americans are deeply concerned. When Secretary Paulson and Chairman Bernanke placed an urgent phone call a few weeks ago to Congress to say we needed emergency action to prevent a major financial meltdown, I expected they would come forward with a plan that was targeted and reasonable, with appropriate oversight and taxpayer protections. Unfortunately, what they brought us was a $700 billion blank check, which they asked us to sign with no questions asked. This plan contained no oversight, no taxpayer equity, and no control over CEO pay. I strongly opposed this proposal - and thanks to your phone calls, e-mails, and letters, Congress stopped it in its tracks. The Senate made major improvements designed to strengthen our economy and protect our taxpayers. Instead of a blank check, the Senate plan included significant Congressional oversight, equity for taxpayers, curbs on executive compensation, an increase in FDIC insurance protection for bank depositors, middle-class tax relief, and job-creating tax incentives for renewable energy. The bill passed the Senate by an overwhelmingly bipartisan vote of 74-25 and the House by a vote of 263-171. These were very important changes. But let me be honest: There were still aspects of this package that I didn't like. I preferred the government acquiring more equity instead of toxic assets. I wanted the package to be put forward in smaller installments and to include more checks and balances to make sure it would work. For me, the deciding factor in my Yes vote was information I received from the State of California. I was told by the Treasurer's office that without access to credit, which is the goal of this legislation, California wouldn't be able to sell voter-approved highway, school, and water bonds that are desperately needed for our economy and the creation of good-paying new jobs. In addition, I was told by the Governor's office, that without action, our state might be forced to withhold funds for law enforcement, schools, and other needed services. This would bring our state to its knees and many middle-class families would be in deep trouble. Small businesses are beginning to tell me they cannot get lines of credit to meet payroll, as well. Rest assured, I will continue to speak out forcefully about the failures that led us to this place and keep working with my colleagues to strengthen confidence in our markets, protect the American taxpayers, and enact regulatory reform to ensure that we don't end up in this mess again. Again, thank you for writing to me about this very important matter. Even though you may feel frustrated with the outcome of the legislation that passed, your voice absolutely resulted in the enactment of a better bill. Feel free to contact me again about any issue of importance to you. Barbara Boxer Please visit my website at http://boxer.senate.gov
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MORONS SAVE ASSHOLES FROM RUIN
*warning profanity
http://www.fknnewz.com/view/179/morons-r...
How can anyone be shocked. I have been waiting for this for over 6 months.
March 5, 2008 - 1:13am
"1. People keep wondering why banks don’t just drop the price and sell the foreclosures. THEY CANT. Banks do not have the capital to take these loses onto their books as they would become totally insolvent. The government will ultimately step in and physically take these foreclosures off their sheets for them at the expense of the taxpayers. It is the only option I can foresee coming in the future. This is not new as they did the same in the 90’s with fewer amounts of foreclosed homes."
http://piggington.com/my_idea_of_bottom
Ever notice how it isnt there fault? Bush and Paulson proposed the thing. Arnold and the CA congress needed it, and police, teachers, and small buisnesses would have been hurt if they hadnt. It wasnt her fault that it passed, she didnt have a choice. Please remember that she understands you next time you vote.
" I didnt WANT to rob the voters, I didnt have a choice!"
BTW what equity does she mean? The BS morgages that have little to no value? I thought we got those no matter what.
Actually I am quit impressed by her comments. I could not have said it better myself. I'm not saying it was the right thing to do. Kinda of reminds me of "Weapons of Mass Destruction", which makes me believe Bush was behind it from the start.
Again, thank you for writing to me about this very important matter. Even though you may feel frustrated with the outcome of the legislation that passed, your voice absolutely resulted in the enactment of a better bill. Feel free to contact me again about any issue of importance to you.
This last paragraph is total BS. The final bill is worse than the original because it is loaded with pork.
It's somewhat surprising that the Democrats so whole-heartedly supported a bill that is based totally on 'trickle-down' economics. If Boxer thinks any of this $700 billion is going to trickle down to teachers and firefighters she's nuts. What's going to happen is that the $700 billion is going to end up in the pockets of a few rich executives and it's going to stay there.
If the Democrats really want to show that they are for the working man, they should have re-written the bill so that the $700 billion went directly to the middle class or the poor. Giving it to rich fucks who have raped the system is just unconscionable.
It's also scary that this is a 'rolling' $700 billion. As I understand, the government can buy $700 billion in feces, sell it, and then buy another $700 billion worth of feces. Terrible, terrible, terrible.
Republican supporters are impressed by the Republican arguments for spending $700bn; Democrat supporters are impressed by the Democrat arguments for spending $700bn. Most folks continue to vote for the people who want to spend more of their money because the professionals with their hands in our pockets present themselves attractively.
snark: Is there a country out there that enforces a minimum street-savviness standard on the people who want to live there?
It's so funny how everyone continues to claim he or she was warning about this situation months ago. The truth is everyone who has been on this board for sometime was preparing for a bubble to burst.
Every politician, corrupt or not (unfortunately I fail to find any that aren't), is now in a position to be a puppet on a global stage. Every single politician was threatened and I am sure those that didn't vote on this bill, their respective state will feel some sort of consequence from government for their failure to vote yes.
Here is an interesting thought. for every educated citizen who is against this bill there are another 5 people who could care less what happens because they really have no clue and don't really follow our economy (but they do watch TV). Sure they might be on unemployment or they know a few people that lost their homes, but in reality they are out of touch with what is going on.
I have been probing many of my friends on this economic situation and it always ends up on the topic of how bad Bush was and how great Obama will be. Those I would expect to be educated on what is currently going on in our government are completely opposite and still in their little bubble of Democrat vs. Republican. I get so frustrated myself that people can be so ignorant to where we are at, yet there is little we can do. We can complain, write letters, make phone calls, fly a plane over PB with a sign, but none of that works anymore. The educated, successful citizen that strived to make an honest living and make the world around us a better place seem to be the ones who will end up sacrificing the most. Pretty sad how that works, but as they say the good guys never win!
Here is an interesting thought. for every educated citizen who is against this bill there are another 5 people who could care less what happens because they really have no clue and don't really follow our economy (but they do watch TV). Sure they might be on unemployment or they know a few people that lost their homes, but in reality they are out of touch with what is going on.
Yeah, I was talking to a guy at work the other day and somehow the subject of the bailout came up. He's in customer service and is a nice enough guy, but he had only heard of the bailout because it was talked about on the evening news.
In the course of the conversation, it came up that he had bought a $380,000 condo and he told me it was now worth $280,000. He said he planned to continue paying his mortgage. It was apparent by our conversation that he had no idea how much the $100,000 loss really was. I'm sure it's more than twice his annual salary, but he was totally oblivious to the hole he had dug himself into.
These are the people our government is trying to "save". People who should have never gotten credit in the first place and who will never get credit again in a free market. The only way this guy will ever get a mortgage again is if the government guarantees it. That would be disastrous for our economy and way-of-life, but I'm afraid that is where we are headed because, as you said, there are more clueless McGoos out there than there are educated citizens who at least have some understanding of capitalism and finance.
I don't think that government backed loans are a problem by themselves, and things would be fine if the bubble hadn't occurred. I think a lot of the programs are good ideas, and generally do promote stability in lower income families. Remember here in SoCal it seems you need to make at least 80k just to get by with some decent standard of living, and the ability to save for retirement. If there hadn't been a bubble, the homes would have held their value, and the banks would have been able to recover their costs without the government stepping in.
I sent emails to Senators Boxer, Senators Feinstein and three local Congress members.
Senator Boxer was the only one who did not give the crap about preventing foreclosures. Her point about thawing the credit markets is true.
Of course the inability of the Democrats in the State legislature to rein in spending is topic for a separate rant.