First of all, lets put down the basics. Wall Street has fucked up and made it's own problems. George Dubya-Douche-Bag Bush wants us to give 700 billion dollars to bail them out. That's 700,000,000,000 dollars. If you make 300 dollars a week. That's 2,333,333,333 times more than what you make a week! It's a fucking huge amount of money. You would have to work for 400,000 centuries to make that much money on 300 dollars a week. So who's money would be given up? Taxpayer money! Not to mention, it might not be $700B dollars. It might actually be a trillion. $1,000,000,000,000!
From what I've seen, I've gathered that McCain supports it (I can't be 100% on that, but it seems as though he has decided to vote for the $700B). The vast majority of people in both the Senate and in the general public hates this idea. McCain said today that if we don't pass this then credit will disappear, banks will go bankrupt, people will lose their jobs. What!? Okay, you might lose your job... if you work on Wall Street. Where the fuck is this really coming from?
What will really happen if we don't bail them out? They will have to lower prices of homes and loans so they can make back some money. Shit will actually go down in price if don't bail them out because they will have to try and make money to bail themselves out.
So why are they in this cafuffle? Because they started handing out loans to people who should not have gotten them. They starting giving out money willy nilly to people who they could have easily known would never pay the money back. This is a crisis. It's a crisis because Bush actually thinks they should be bailed out.
The good news is that at least 4/5 Americans actually do understand this bailout is a bad thing. Check out this poll on CNN.com.
Here a big problem. If we bailout this industry. Who gets bailed out next? Credit cards companies and the automobile industry? Once you start handing out government goodies, the line starts to get really long.
Oh and get this. McCain compares the patriotism shown after the attacks of 9/11 to the patriotism needed to be shown during this crisis. I'm sorry McSame, but this bailout is NOTHING like a terrorist attack. Once again, republicans bring up 9/11 which happened 7 years ago, in hopes of scaring people into believing them.
So should we do absolutely nothing? No, we should try and see what can be done without simply throwing a trillion dollars at the problem. Bush needs to realize that money is not the answer.
By the way, if I haven't mentioned already. The people he wants to bail out are billionaires. Fucking billionaires. We should not be flipping the bill for bad decisions by bad people. The only people who will really hurt from this bill not passing are bankers. They will hurt because they will have to compete for more customers.
So what kinda average Joe will be affected? The average Joe who wants to go buy a house who really can't afford it. That's a good thing. Some people who can't afford a house shouldn't have a house!!!
Bottem line: The quicker they rush this bailout and/or solution the more mistakes will be made.
UPDATE: It looks like Obama has said he sees no reason to suspend the debate. Apparently very few people do think it should be pushed back. Good! That shows strength! It shows that Obama's not afraid like McCain apparently is. And by the way, Obama has already said he doesn't support this $700B at all. He says that there is no way we should give them "a blank check."