What is the reason conservatives give about the bailout?
January 19th, 2010 | by admin |ObamaBot THX-1138 asked:
I thought free markets were the way to go because it encouraged efficiency. Is McCain for the bailout too?
I thought free markets were the way to go because it encouraged efficiency. Is McCain for the bailout too?
Is all this talk about free markets just convenient way to cut funding to help poor people?
Adam L - so you are in favor of more regulation and blame deregulation for this mess?
Freeza - so you are in favor of regulation and blame deregulation like Adam L?
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19 Responses to “What is the reason conservatives give about the bailout?”
By Adam L on Jan 20, 2010 | Reply
CLINTON is the main cause of this financial crisis. He started this sub-prime loan BS. Look it up.
McCain was trying to reform this a recently as 2005.
By Supremely Deep Thought Patterns on Jan 22, 2010 | Reply
Right on. They (Cons) are “against handouts” when it concerns the People but FOR them when it is big business. They make NO sense.
By Ernest V on Jan 23, 2010 | Reply
Probably pretty similar to the reason the Liberals are in on it. Many politicians realize that there is a stabilizing effect to making sure people have faith in the financial sector of the economy.
By PETEY YEAH!!! on Jan 23, 2010 | Reply
They excuse this fiasco by saying that if these companies were not bailed out, then it would cost the American public more.
However, if we had spent the money earlier to regulate these companies, among other industries, then we would have saved a lot of money.
But thanks to deregulation, these types of fiascos can occur. Therefore, conservatives will of course blame the liberals for not pushing for enough regulation.
By Freeza on Jan 25, 2010 | Reply
McCain wanted to REGULATE in 2005! Obama did not lift a finger to try to regulate. It was Obama’s democratic gang that PUSHED the mortgage companies to give loans to minorities people who could not afford the mortgages. Demo more at fault on this one. sorry!
By idotstick on Jan 28, 2010 | Reply
Actually McCain is not for the bail out, but Obama and Bush are.
By Windseeker_1 on Jan 29, 2010 | Reply
It’s amazing that 8 years later Republicans still find ways to blame Clinton even though they have been the ones in power. They will never accept any wrong doing at all, ever.
By susanmarie on Feb 1, 2010 | Reply
The decision to provide funds for a bailout is one the Congress makes and the Dems rule the congress. You should be asking them this question.
By Ruby on Feb 3, 2010 | Reply
True conservatives are angered by the bailout. Some neocons are making excuses for it.
It seems that the free market is only good for privatizing profit, but losses should be socialized.
Because of deregulation in the banking industry, the banksters got away with a giant swindle. Instead of eating the loses of their own criminal and unethical practices, they have come crying to Congress to ask for a taxpayer bailout. It is insane. This article explains it very well, in layman’s terms.
By LadySnowbird on Feb 3, 2010 | Reply
The Republicans can spin this any which way they want too. But the blame is going to fall directly on the Bush Administration. There has been 12 yrs of Republican Congress up until the last 2yrs and The Bush Administration has been so lax in enforcing the laws that run Wall Street… The SEC laws.
McCain keeps saying its Obama’s fault … who has been in the senate for 2yrs … when McCain has been there for 26yrs, In those 26 yrs McCain was the Senator calling for Deregulation. But .. deregulation and GREED run a muck is what got us into this mess.
By Chris H on Feb 6, 2010 | Reply
What “free market” are you talking about? When was the US a “free market” economy?
I know a lot of Leftists like to point to the 1800s but that’s incorrect as there was rampant government subsidizing of farms– they called it “slavery”– and rampant strong arm tactics allowed by business owners to keep workers from unionizing. Both of which were wrong. (And I know there a thousand other things I could talk about here but there’s only so much time in a day.)
I personally do not believe the government should ever become involved in any citizen’s business unless that citizen is violating someone else’s rights by force or fraud. That’s liberal personal freedom, which is, in this nation, a conservative concept, as it goes back to the Founders.
Where are the “conservatives” in our government? I realize that Dems have been taught that Rs are conservative– it’s what you’ve been told over and over and you’re evidently not bright enough to question it on your own– but in this day of George Bush and John McCain as leaders of the Republican Party there simply are very few true conservatives, as neither of them qualifies.
By birdie on Feb 7, 2010 | Reply
CHINA told them to. China is one of the biggest investors in American securities. Why do you think Bush was over there?
China can put the US $ in free-fall. So could many of the Arab oil producers who have used their oil dollars to invest in our mortgage and insurance markets. There just isn’t enough other US products to buy with all that dough.
The US citizen no longer saves ie invests in our economy. Foreign investment provides needed capital at a 4 to 1 ratio now. We are broke fellas.
We are only bailing out the investors not the shareholders. They will lose their butts.
By Owen Newitt's duck on Feb 7, 2010 | Reply
Answers above that blame the current mess on deregulation are 100% correct.
McCains co-sponsored 2005 bill was intended to further deregulate, it just had a misleading name, as usual.
Bush and his cronies are demanding (for a start) $700billion of our money with no controls, no strings, no plan and no guarantees.
Everybody should be contacting their elected employees in Washington and demanding Congressional oversight with veto powers, guarantees of repayment, and a clear and detailed plan on what they plan to do with our money.
everybody should keep in mind that it was a similar bailout ram-rodded by the Federal Reserve bankers that caused the Hoover Depression to be so bad.
By Biran_Sefar on Feb 7, 2010 | Reply
Americans are working harder and harder just to not even get by…and all to help pay off the foolishness of the mega-wealthy. This bailout is nothing less than the government putting on a ski mask and holding a gun to the heads of every man, woman,and child in the U.S. and demanding that we pay the bill that all the bankers and other THIEVES have run up.
Tell your elected officials to VOTE NO ON THE BAIL OUT!!
By favabeans78 on Feb 7, 2010 | Reply
A completely free market does not work, and this has been proven once before. Remember the stock market crash of the 20’s that lead to the Great Depression? Economy has a large speculative component, and we humans are prone to over-speculate and get burned as a result. This is why we set in place regulations to moderate this tendency. However, since the turn of this century, we have managed to “deregulate” our banking industry, leaving far more room for the same old frenzied speculations that brought us so much pain in the past.
Regulation is not the same as strangulation. The ones who decried government meddling are the same ones who are getting the $700 billon bailout: the banks.
Free market economy is like nuclear power. You may harness it with careful control. But if you take away too much control, then it will result in a meltdown. It is all about balance.
Regulation vs. deregulation are just words. What is important is what works pragmatically. We now know from past history that too little regulation or regulations that do not reflect changing conditions will result in financial carnage. We also know that too much regulation may slow down economic growth which otherwise can be achieved safely.
Good regulations are necessary and requires good expertise and deft handling, which our government has not been able to provide, seeing that it has gladly become so reliant on foreign money to fund our market.
This is a sad time for America.
By carytop on Feb 8, 2010 | Reply
Republican hypocricy at it’s “best”. they don’t want to extend unemployment benefits, help the needy, complain about “liberal social programs”, and they find a way to pay a trillion dollars to bail out Wall St.
By Tamonnnnnn on Feb 10, 2010 | Reply
Conservatives, liberals, and moderates will eventually come together and vote for the bailout, some holding their noses harder than others.
From what I’ve pieced together, the buying the bad loans is absolutely necessary. There’s no dispute about that. The price, controls, oversight, terms, etc. are being hammered out by Congress and the Administration.
The free market debate will rear its head in a week or so when we look back and ask why this happened. The concept of free markets dictate that companies will act in their own best interests, which does not necessarily parallel the public’s best interest. Hence, regulation is sometimes needed to make sure things don’t happen that hurt the public, like, oh, the stuff in the front page.
Everyone agrees that finance gets always get ever-more-complex. But ideological conservatives disagree that regulation should keep up on the mantra of less regulation is always better. I’ll bet a rent check that the Democrats will overwhelming support more regulations. Republicans of conscious will too, albeit with discomfort. Those who don’t have placed ideology above reality, and deserveto be exoriated.
By kwandrie on Feb 13, 2010 | Reply
If you believe that propaganda about it being absolutely neccessary, you are a sucker. It is neccessary for those rich banksters and businessess, not for us! If you look up online those banks and company’s have assets that would well cover this loss of their. This is like a financial coup. You are losing what “for the people” govenment is left and you will be in essense a serf or slave. You won’t hear about this part later.
This is a scheme, they set this up and set it to happen now. They may hold our presidential election hostage by saying they can’t do it until they have this fixed. Just watch! They are telling us incorrect amounts to begin with. Also, this is set up as a few years ago they took the same rules that were created out of the first depression and canceled them, and then the government encouraged these company’s to do what they have done. Had any of them had an ounce or morals or care for their fellow humans and not just money, they would not have done it. Read the books “Secret world of money” and “Uncle Sam cooks the books” by money historian Andy Gause. You will see how this is a scheme and they knew it. Gee Whiz, I am disabled sitting at home and I saw it and warned several people about a year and a half to two years ago. In addition, the depression will be the same, either way.
By the way, if you listen to Alex Jones, you would have known already too!.
Cindy
By ♥AuTuMn♥ on Feb 15, 2010 | Reply
I think the whole bailout thing sucks!!!