"Picking up on the unpopularity, Capitol Hill ditched the term "bailout," instead calling it a rescue"

This is so typical. Citizens don't like something government wants to do, so they complain, and the government changes the name. Are people really so stupid that a simple change in the phrasing can appease them? How frustrating.

Spin doctoring at its best.

And Michelin, its very unfortunate but we *do* know the answer to your question.

It sounds pretty shi%*y to me either way you phrase it.

I'm not very happy about this at all. How will people learn from their mistakes and not allow it to happen again if we just chuck some money at them to make the issue go away!?

So who suffers from this? Not only the big wigs, and the people who can't afford their loans... but the people that actually DO pay their bills every month as well. *grumble*

whoa...earrings

Actually, the only people who suffer from this are the ones who did pay their bills and didn't buy the things they want, because they knew they couldn't afford it. I'm thinking about going on a major spending spree, because, the government will bail me out eventually.

"the only people who suffer from this are the ones who did pay their bills and didn't buy the things they want, because they knew they couldn't afford it."

WHAT????
Are you kidding?

STATES are having massive difficulty right now. Missouri, for example, can't get credit to function. That could effect all sorts of services that impact regular Americans on a daily basis (state troopers, etc.).

This is impacting the CREDIT market, which businesses large and small use on a daily basis to make payroll, etc. Credit allows business to function. Car dealerships, for example, can't get the credit to buy new inventory, and their customers can't get credit to buy a new car. The car dealer didn't spend beyond his means, but now their business can not operate.

It affects so many businesses, and what happens is people get laid off.

Maybe I am understanding this all wrong, but I just don't see how this is going to solve anything. We are relying on a financial institution that has already completely failed us to make good investment decisions and pay back this bail out money? Yeah, right. And where is this money coming from? Oh yeah, us the taxpayers. The people who have lost so much already because of this nightmare. A lot of this plummeting of the stock markets is due to panic. That huge drop the other day, which percentage wise was not that big, was from panic. I don't know what the answer is, but this one doesn't sit well with me.

Well I'm glad Obama finally made a decision. "Call me if you need me" wasn't really effective.

typical repub comment

i would say that the 'call me if you need me' approach worked a lot better than mccain's standing over their shoulders...since he "suspended" his campaign and all just to help handle the situation. Other congressmen said his presence didn't help things; it hurt.

Jillness we are all well aware that the problem we are in effects the credit of the economy. I think that's what the media would like everyone to focus on, because then the answer is easy "just do something! Anything that will help right now!" (And the car dealerships technically do spend beyond their means, because the cars on their lots aren't paid for, they're bought on loan, to be paid back when the vehicle is sold.)

I'm excited to see people out protesting.

I thought Obama was very clearly for this legislation (from his meeting with GWB last Friday to his press conferences) and McCain was the one that didn't want to answer either for or against until he got more specifics or something. Not sure what McCain got out of the whole 'suspending campaign' thing.

McCain's whole campaign since Palin has been one political stunt after the other and he FAILED to get Repubs on board by the (fake) suspension of his campaign for the first bill.

If you like stunt men -- McCain is your guy

I wish Code Pink would spend more energy on trying to effect change than pulling stunts that bring negative media attention and change nothing. They cost the cash-strapped city of Berkeley hundreds of thousands of dollars in extra police-time to cover their protests outside a Marine recruiting office, which is still operating even though Code Pink is rarely there anymore.

They even alienate people who might otherwise agree with their position.

"If you like stunt men -- McCain is your guy"

How can you roll your eyes at someone for a comment about Obama and then say that about McCain?

Sorry but that struck me as odd.

As for what they're calling it now, someone had fun with the thesaurus last night.

Why did they pass over "salvation"? That has a nice ring to it.

Anyway, in re: to credit, it's not like there's no money left in the world. People with assets will go bargain shopping. But the banks right now aren't selling because if they can just hold out a little longer the gov't will pay a higher price than it should.

I didn't mind McCain "rushing" back to Washington but when he said he wasn't going to air any political ads, it looked like a stunt.

Ginger, that, unfortunately is the case with tons of advocacy groups.

I wonder if/how much this will effect Canada since we rely so much on the US as a trading partner and for tourism and so much else..

we're ALL f*cked now! ACK!!