Robert,

This, so called, bailout, is one big joke.
The hype and hysteria that is being cultivated by Bush, Congress, and Financial news outlets is beyond irresponsibility.
Unfortunately, unless Republicans grow a spine, this "rescue" will pass.....and we take one slipperly step towards socialism.

The hype and hysteria that is being cultivated by Bush, Congress, and Financial news outlets

Sometimes there is good reason to shout the sky is falling because it is indeed falling.

Jack,

With all due respect, the sky is not falling.
It is the ebb and flow markets have experienced from time immemorial.
Certainly, this recession has been brought on by other forces, other than normal market cycles; but, this hysteria is similar to the market crash of October '87....
Then the financial markets really swooned...and everyone was shouting the end of the world....
Well...it wasnt then and it is not now....And once things bottom out, we will see another bull run, unless Congress mucks things up.

However, if you really want a crisis, vote for Obama. If, Heaven Forbid, his tax policies were ever enacted, they would crush the markets and investment instantly.

The bailout is no joke....anyone who's bought a house in the last 5-10 years and is currently selling is paying right now. The rest of us will be paying for years and years. Just wait.

Robert, can you provide a URL for that NYT article?

Thanks.

Earl:

Here's the URL
http://query.nytimes.com/gst/fullpage.html?res=9C0DE7DB153EF933A0575AC0A96F958260&sec=&spon=&pagewanted=print

With all due respect, the sky is not falling.

Lance,

This is not 1987, it is worse. There is a reason why people are frightened about the situation because it is dire. It is a complete obfuscation of reality to say anything else.

I don't expect this to turn into a new Great Depression. And I understand well the ups and downs of the markets. However things are different now.

We have a terrible situation on our hands that needs a clear plan. Unfortunately I have yet to hear any candidate provide a coherent and comprehensive plan for how they are going to improve things.

And on a side note as I type this I am watching the debate. Sarah Palin has been a complete disaster. She has spent the entire time doing a silly little dance. It is great if you're playing dodgeball, but this is far more serious.

Jack,

I doubt Palin could have done anything to impress you.....Biden had more factual errors, and was more of the liberal tax and spend policies that will certainly sink America. To argue otherwise is delusional.
As for my "obfuscation" as you call it....Sure, many are scared.....Maybe they could have not taken out loans that they knew they could never afford. And the government....Bush...and people like Dodd and Frank, just looked the otherway and whistled by the grave yard.
Unfortunately, Jack, the plan you want is a complete boondoggle and will do nothing to turn things around; normal markets cycles, if left to do their natural course, will, in time allow us to bottom out and return to growth.

I know little about economics. But I remember a time several years when the housing market was booming and values in our Five Towns soared. People were buying with 0 down, no-interest (to start) mortgages betting that the value of their homes would continue to rise. At the time I remember reading articles predicting this catastrophe in the NY Times and yet none saw fit to stop it. Some of my friends are in trouble because they were constantly borrowing against the [inflated] values of their homes. Other friends have lost jobs and had their retirement funds wiped out. What really stinks is that this whole crisis seems to have been caused by greed.

Really stinks.

And its funny, without really understanding all the implications of all this, I said to my husband, shouldn't the government let the chips fall where they may so that they market would eventually naturally recover--kind of what Lance is saying. (My husband said, no, they are trying to avoid a major depression).

I doubt Palin could have done anything to impress you.....

Not true. Had she answered a question I might have been pleasantly surprised. Thus far she is a complete disaster. Hasn't got a clue about most things and if given real authority is not going to know what to do when she can't appoint fellow Wasilans into office.

Biden had more factual errors,
Maybe, but he answered the questions. He has a real track record that we can follow. Make no mistake, I am not a fan of Obama, but Palin has made it impossible to vote for McCain.

and was more of the liberal tax and spend policies that will certainly sink America. To argue otherwise is delusional.

Tax and spend is a cute slogan that people use when they don't want to get into facts.

As for my "obfuscation" as you call it....Sure, many are scared.....Maybe they could have not taken out loans that they knew they could never afford.

Look, I am not happy about that either. It irritates me to no end that people's foolishness led us to where we are at. But here we are and how did we get here. I look at all of the administrations of the past 30 years.

And the government....Bush...and people like Dodd and Frank, just looked the otherway and whistled by the grave yard.

Yes, they failed us.

Unfortunately, Jack, the plan you want is a complete boondoggle and will do nothing to turn things around;

When did I mention a plan. When did I offer details on what I thought should be done. I didn't. What I said was that things are bad.

Markets are affected by moods. People do not always respond to logic. There is a reason why consumer confidence is important.

While I would like to say that people should take responsibility for their actions and reap the "rewards" of their actions I understand that sometimes it is irresponsible to do so.

There are some situations that the government is better suited for handling. There is a time and place when government is obligated to step and establish controls.

normal markets cycles, if left to do their natural course, will, in time allow us to bottom out and return to growth.

Jack,
Let me get this straight....
As long as Biden gave the appearance of answering questions that reflects leadership. Oddly, and disturbingly, you are not troubled by his outright lies on so many facts that I could type pages.
I have a feeling your idea of leadership and mine are different of worlds.
Sad indeed.

As to "tax and spend" being a slogan....Unfortunately, it is not a mere a slogan. True the Republicans have strayed from fiscal responsibility, but, Democrats have never displayed responsibility....fiscal or otherwise.

Jack, if you want to bail out your neighbors who abused the system and bailout FNMA, Freddie, etc....go right ahead. Just do it with your pocketbook....Not mine!!

It is clear, to anyone watching this with a clear head, that Congress has no idea what it is doing...and when this 700 billion doesnt work, like a crack addict they will add more and more.
And, if heaven forbid, Obama becomes President, after he heaps taxes on us that you so desparately desire, then, we will have the crisis you long for.

Fannie Mae stock is a super buy and hold..in time it will all pass

Fannie mae tock is a super buy and hold..in time it will all pass