Lemming Gene? Why is it a foregone conclusion that some kind of Wall Street Bailout is necessary?

[whatchamacallit]

I appreciate congress people like Chris Dodd are working "round the clock" to hammer out a package that offers some concessions to the taxpayer, but why is everyone convinced this bailout will do anything other than stall what many believe is an inevitable reckoning? We have already thrown enormous amounts of good money after bad, with dubious results at best. Sweetening the Kool-Aid doesn't change the fact it's still Kool-Aid. We need to calm down and rethink this.

[Junkdrawer]

1. But Daddy, you PROMISED me that pony....

If I don't get the $700 Billion, I'll just DIE...

[fascisthunter]

2. $$$$

[arcadian]

3. Disney made that up about the lemmings..

The fascist bastard

http://www.snopes.com/disney/films/lemmings.asp

[HamdenRice]

4. Maybe because the "reckoning" is no more inevitable than the "rapture"?

Believing that a "reckoning" is inevitable is the secular version of Christian fundamentalists who believe in "rapture."

We've been here before under Bush the First and the S&L bailout which seemed scary and it seemed it might not work. Everyone said that Reagan and Bush the First had put the federal government in unpayable debt.

Then came along a man from Hope, Arkansas, and by the middle of his second term, the government was going to pay off all its debts, going back past World War II, the Civil War and the Revolutionary War.

No plan: Great Depression, and your inevitable "reckoning."

Plan: Obama gets breathing room to fix the fiscal situation and we have the possibility of averting disaster, plus the real upside possibility of debt reduction by the middle of Obama's second term and of the bailout ending up making a profit for the Treasury of billions.

[whatchamacallit]

5. This has nothing to do with faith

it's about an estimated 700 trillion in derivatives (62 trillion in credit default swaps) unwinding their way back home. If anyone is living on a wing and a prayer it's people who, for no discernible reason, believe this scheme is somehow different than the rest. I'm confused Hamden, you don't trust the Bush administration on 911, but you trust them on this?

[HamdenRice]

6. This is not being engineered by the Bush junta gangsters

I don't trust the Bush gang on 9/11 or anything else. But they are out of the loop. This is being done by Paulson, with the collaboration of grownups in Washington. Obama's economic people, for example, helped craft the Fannie/Freddie bailout.

Paulson, in turn is under tremendous pressure from European and Asian banks. Paulson is telling Bush what he's going to do; not vice versa. That's what every credible news source suggests.

Although Bush, and even worse, the very dumbest Republicans like Gingrich, would like to take advantage of this crisis, they are not driving the process.

[brentspeak]

8. You "don't trust the Bush gang"...

What "gang" do you think Paulson is a member of? The Pagans?

Hint: He's the Secretary of Treasury, a member of the Bush administration.

[whatchamacallit]

9. Doesn't matter, the trillion dollars will only serve to keep the ponzi scheme alive a little longer

further screwing the taxpayer by killing the dollar. BTW, Hank Paulson is a crook.

[Junkdrawer]

10. How will we "Profit" from buying bad credit card, auto loan & student loan debt....

And the size of that debt may well dwarf the mortgage debt they talk about.

"Look at the nice mortgage debt while we bail out the REAL junk from the system."

[Lilith Velkor]

7. Because they would rather destroy this country than lose money.