What would the lack of a Wall Street bailout mean to me?

Please give the best and worst case scenario, if you will. I just don't understand why we "have" to bail out these criminal bankers. I listened to Bush give his talk, and I kept thinking over and over - "why"?

yet, nobody listened. And here we are.

Well, now, those same people are saying, it's too late, it won't help. And the same bastards who failed to do anything when they could have are now saying, it's not too late, we have to act fast, and do it now!

Yes we should do something to mitigate the crisis.

No, this bailout is not a good solution.

That's my position.

If it means less shit being sold in box stores, and a burst in the housing bubble, I can deal.

meaning businesses might have a harder time getting credit.

Beyond that, people can only guess.

I'm of the school that something needs to be done to help any little guys that get run over by this, but we would be better off letting this event happen than facing Japanese-style lingering malaise.

that the bushies dug us into.

There's likely to be a crash no matter what. This bailout is basically about kicking it down the road until after they're out of office.

sw

...$700 billion on trash. That's my opinion.

Here is Henry Paulson's:

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http://www.dailykos.com/story/2008/9/25/12919/0524/517/609685

Senators described a very somber, serious meeting, with Paulson describing the risk of inaction and working hard to sell the plan to skeptical Democrats during the closed-door caucus meeting. Paulson said unemployment rates could approach 10 percent if the plan was not adopted, senators said, although he did indicate possible receptiveness to the idea of implementing it in stages. Such a plan, Paulson told senators, has worked in countries like Japan, where financial rescue plans were done in stages.

"He talked about the risks in the markets, the risk of the financial system locking up, the risk of companies not being able to borrow money, the risk of major firms failing, the risk of a substantial increase in unemployment," said (Budget Committee Chairman Kent Conrad (D-N.D.)).
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I don't want to bail out any WS greedy criminals either, but...

Do you have a 401K

Do you think you miht need to buy a car in the forseeable future

The company you work for borrows $$ for daily operations. (95% pr businesses do.) Of they cannot get any credit, you won't get a paycheck!

The value of your home will continue to decline, and maybe radically!

Farmers all borrow $$ to plant crops then pay it back when they reap their crop. If they can't borrow, they can't plant. You don't eat!

If there's no credit, nobody has any money to buy anything, so businesses close, unemployment dramatically increases, and America as we know it dies.

but I doubt I will get my way.

thanks for the reply.

You do realize that people DIED in the Depression, including children. No money, no jobs, no insurance. This is more than people not being able to buy crap from Wal-Mart. It will threaten survival for many at its most basic level. That's a good thing? It's not like the people in the city can grown enough food to feed themselves.

I agree that there are many systemic problems in the current system, but I don't understand the people advocating a total collapse.

the only way I see us becoming a real socialist state is through this kind of collapse. How else will the people awake?

But the U.S. will never become a real socialist state.

and be very glad that the bailout will be renegotiated...

The mind reels.

Me and my wife, though, since we have retirement accounts, I guess we deserve to be hurt, right? Only "rich" people have those things.

Then again, seeing your further repsone in this subthread tells me all I need to know about you.

I might just want to pull my 401k? Eat the taxes? Use it to pay off debt? Stay in debt and use it to stock up my pantry?

and that goes as far as check cashing and cash machine access being affected. Not that I care. I liked the cash system better anyway.

Or are all the employers going back to cash as well?

YOU win?!!!!! :-)

www.themoneychangers.com

have dropped 30% in the last month or two. Something MUST be done... FAST.

that is awful :(

The lack of a bail out means that more of the Wealthy will NOT be able to take MY TAX DOLLARS and invest them overseas.

Let's all be AMERICANS and struggle through this together?