Bunning: Free Market Dead

Bunning is a numbskull. He and his congressional cronies were the idots who failed to regulate appropriately.

Free market was dead long time back... 1) You go to school and the education is costly. 2) We get a job to payoff.. but we are stuck with mortgage worries and healthcare insurance. 3) The we have a social security which may not pay well. I think we are almost back to gold standard!!! If my employers pay me cash I wont open a bank account! Now I probably wont buy a car or a house. Only people who can live in America are doctors, lawyers and wall street folks..... Guess what 1 down and 2 to go!! Power up!!

I totally agree with Senator Bunning's statements. The Free Market is dead. & we are now heading straight into a Socialistic economy which is right where Senator Obama wants us to be. I am just flabbergasted that it was a republican watch that this is happening on. I am seething with rage & would love to go to Washington & burn it to the ground & execute the entire congress. What I want to know is WHY no one has the gumption to say " what happened to responsibility for your actions/decisions? " No one held a gun to all these nitwits who lied on loan applications or borrowed/bought more then they could afford. They gambled ( just like going to Vegas) & lost. Accept your losses, chalk it up to experience & leave the rest of us who know better & played by the rules alone & unscathed. I do not want to/nor should have to pay for their poor judgement & gambling losses.

Markets regulate themselves. Let these wall streeters go bankrupt. Someone explain to me how bailing out some of the richest people in this country is somehow good for the "general welfare". We don't need more regulation. We need to let winners win and losers lose.

How'd we get so socialist? Here's how: So if I'm part of an ethnic group that's less than 2% of the population how can we possibly gain control? We'd need to create allies. The majority we're up against are real capitalists, in fact they built their booming economy by inventing and manufacturing just about everything in the last century. We are more 'anti-capitalism' so we created unions. Now they all vote with us so they can make more money and not work as hard as their non-union neighbors. Another large group we recruited was Afro-Americans. We ran the Civil Rights movement, got them all sorts of programs, encouraged their population boom and now they are voting with us. But there was still too many of these original 'real american' type yahoos voting against us so we changed the immigration policy and let lots of different cultures in to make us more 'diverse'. They now get all kinds of benefits so they vote with us. Oh and the Gays are all ours. We totally support them and whatever excesses they can think of. That goes for child molesters, pornographers, gangstas- anything the Christian majority has a problem with. Our ACLU protects them. And makes sure we don't have to endure their Christmas celebration anymore. Without much opposition we were able to buy up just about all of their information sources. We have our people writing and producing most of the news, movies, magazines, books, TV shows and reviews. Now our liberal fringe ideas are considered 'politically correct'. Lots of our award winning shows and articles (we control the awards of course) work in a little bit about how bad our government ,corporations and 'narrow minded white men' are and how really great and misunderstood gays, immigrants and minorities are. Our people run the public broadcasting, schools and universities making sure no alternative message gets through. We had it made for a while. Then Limbaugh slipped through somehow. We got a book out as fast as we could -'Rush Limbaugh is a big fat idiot'. That's the kind of attack we use. Ann Coulter is stupid. O'Reilly is stupid. We do our best to control the Internet and soon hope to shut down what we consider 'hate' sites. No, not the DailyKos, that's good hate. Google is ours and we have so many rabid bloggers you'd think we were the majority in this 'democracy'. We recruit any 'real american' types we can to be our puppets. They make a lot of money if they behave. Some of our favorites are Al Gore, Katie Couric, and any actors who want to work. This country has really been a cakewalk. 'Real americans' were so caring and moral they'll accept all our schemes to buy voters using their tax dollars. More programs to help minorities and immigrants. They've seen nothing but positive portrayals from us so 'sure'. We may have milked them dry now though. They seemed to have an endless supply of riches from their inventive creativity and hard work. A few of those early heroes like Henry Ford and Charles Lindbergh tried to warn them about us. We sued and wrote negative stuff about them. That's worked very well for us. Like Joe McCarthy, ever seen anything positive about him? Okay only from Ann Coulter. She's stupid.

Mr. Sullivan, It is indeed a dark day for the free market, and for capitalism as we knew it. The nationalization of the banking system, and now the AIG bail out, have been the trillion dollar straw that broke capitalism's back! The gains on Wall St, and around the globe today, are an artificial reaction to a decision which will forever change the global marketplace. This government has vastly overstepped it's bounds, and now that Pandora's box is open, we will all reap the whirlwind! We are on the doorstep of fascism, way beyond the predictions of a new socialistic state. The nationalism of this many businesses, and this amount of money, will bankrupt us all and leave utter financial destruction in it's wake globally. What will we do? How can any American who has read the Constitution stand for this? Respectfully, Chiefos McStacy

At first I was outraged that a Republican administration, committed as are most such animals to let the market do its thing, let the subprime mortgage debacle happen (especially the huge roles that Fannie Mae and Freddie Mac played). Then I heard on the news that about a year ago the Administration really wanted to rein in the 2 Macs but -- get this -- Chris Dodd and Barney Frank, the respective chairs of the Senate and House Banking Committees refused to allow any pressure on them. Then it came out yesterday that Dodd had received something like $200,000 campaign contributions from them, double the person who got the second highest amount (Barack Obama). So, you tell me, whose fault was it????

Senator Bunning is one of the last honest men in the senate. He is standing up for the taxpayers. This bailout is only to help wall st. don't let anyone tell you different. It has been proven over and over again in history that if you inflate during a recession the outcome will be government change. The financial want their cake and eat it to. They made this mess and should clean it up all by themselves. If a business in small town America make a bad business decision he doesn't get bailed out. This is socialism for the rich pure and simple. I personally don't think the American people will stand for it. The actions take have brought into question the credit worthiness of the United States. If bad actors had just let the free market work this disaster would be on the way to being over. Now this action would only extend the enviable. When the world doesn't buy our debt we will stop all this foolishness we won't have a choice. It is a sad day to be an American.

Have you noticed when the gov,t comes up with rescue plans/new regulations and the like,how quickly it happens.We have a crisis on Monday, and by Friday they present their 5000 page document outlining all the changes,rules and regulations,all printed up bound in nice binders,every i dotted and t crossed.Either these guys are amazingly efficient, or the documents have been in the works for years.Given that I,m talking about politicians,whose past performance is public record,I would suggest these people are simply actors in a play,no wonder hollywood loves them.The gov,t knows exactly whats going on, they created it,they probably have more solutions/ rescue plans already printed up with dates like dec/08 or mar/09.

The economy is easy to fix. Drop the corporate tax rate to 0. Drop the capitals gains tax to 0 Institute a flat 10% income tax with no deductions. ("If 10% is good enough for Jesus, it's good enough for Uncle Sam.") Cut the federal budget by $1 trillion or whatever it takes to balance the budget. Eliminate all the federal bureaucracies that can't be justified in the US Constitution. Cash out Social Security. End Medicare and Medicaid. End all transfer payments. Sell off all federal assets in public auction that don't have anything to do with national defense and use the proceeds to pay down the national debt. Let's have an "economic melt down" in Washington DC and the surrounding beltway. Wouldn't that be cool! Can you imagine the squealing of all the piggies?! Time for us all to be adults.

The so called "free market" in the US is now dead. Profits are privatized & losses are now socialized. Welcome to the USSRA (United Socialist State Republic of America)

Don't you guys remember a few years ago when CONGRESS outlawed "red-lining"...i.e., the practise by banks and insurance companies that eliminated large portions of a city map because the residents in those areas were not credit-worthy? That they were "high credit risks" and the companies did not want to write policies or give loans to people in those areas? Don't you remember? The blame lied with CONGRESS then, and the blame lies with CONGRESS now for not sticking up for the American taxpayer. I say we line them all up against a wall.

While I don't disagree with Bunning it is the policies that he espoused that got us into this mess to begin with.

Greed rules the "New" America. We've lost our way, and even if and when we get back on the road to recovery, so many responsible citizens will have paid so much and lost so much that most likely they'll never be the same again. The powerful abused us, lied, cheated and stole. The dark side of human nature abused our otherwise healthy capitalism and worshiped greed. America has been purposely weakened while trying to fight abroad against the ones that hate her. I guess America has more than her share of people who hate her living in her. This is a long long long road that we must now travel to get out of this hateful act, and it will be done on the shoulders and backs of the innocent. It's sad that we had to show the world that the capitalism we so treasure had to be rescued by the socialism we so despise. If the world is laughing at us, they have every right. Only 7 years after suffering the worst attack on American soil, we inflict more pain on ourselves. No need to put "In God We Trust" on our currency, we should put "In Money We Trust" on our churches. We'd at least appear to be more honest and less hypocritical to those who are laughing at us right now. I don't know for a fact if America is dead yet, but it wouldn't surprise me. I guess we should look at the bright side, something as priceless and fragile and democracy and capitalism lasted a little over 200 years, not bad, considering they were placed in the filthy hands of humanity.

What William Teaney said. People bought homes they could not afford and didn`t pay for them. Why ? Because they thought they were going to make money doing it. It was a Ponzi scheme on a scale never seen before. There is only one way to fix it , allow home prices to go back to what people can afford. Making credit easier so all the excess homes can be bought at still artificially high prices will only insure the same thing will happen again.

Fanniemay was mismanaged and succumbed to liberal democrats i.e. Frank and Schumer, who wanted everyone to own a house even those who normally could not afford one. So they directed fanniemay to make ridiculous loans which they did; and thousands of them!

Bernanke and Paulson should be held accountable. But what about Chris Dodd, Barney Frank, Nancy Pelosi, Barack Obama, John Kerry and a host of others. They either blocked regulation of Fannie & Freddie or created a loosening of rules to let unqualified people get loans they couldn't repay. They took large campaign contributions from the firms they are supposed to oversee. How many of these politicians held stock in these trashed entities and did they loose money with the rest of the stockholders or did they miraculously sell the stock before the unwinding? At the very least they should be forced to resign from their positions and investigated for ethical violations. They have screwed 300 million citizens by their inaction.

No one is giving any taxpayer money away. The money is a loan to assure the companies liquidity and solvency. It is similar to backing certificates with gold. This already happens in the insurance industry. When you pay a premium, a certain percentage is set aside by the government to make sure you will get paid. This is not happening in these markets, and should be.

The Constitution isn't a suicide pact. The real threat in this bailout (someone suggested it be called, "Securitized Housing Investment Trust") (Acronym, heh) is not that the Feds have taken unprecedented measures to address the crisis, the real threat is that if pthe Congress fails to appreciate the absolute devastation that will occur if they don't also address the fundamental and systemic problems that are being highlighted as to how we got here. This is nothing short of a massive crisis of confidence in both the monetary system and the government. If that is allowed to fester in the minds of thinking people for any length of time, the fear and panic will overwhelm the government's ability to manage. Things can spiral out of control in a matter of hours and playing politics and the blame game can undo any chance of restoring order. The system is broken and confidence is fragile.

STOP THE PRESSES!!! Don`t bail anyone out, Comrad Bernanke if your going to spend a trillion dollars , just give every man , woman and child in the United States three-hundred thousand dollars and the problem is solved for the same amount of money. The poor victim homeowner who can`t pay there mortgage can pay off their mortgage , the banks that are out of money will have plenty of new deposits , our great grand children will have money to pay you with. Don`t bother thanking me , I know all those Princeton books about the depression can confuse people.

Bunning is an complete idiot....He should stick to the only thing he understands which is baseball....A lot of you don't seem to get that this isn't about bailing-out fat cat CEOS....this is about bailing YOU and ME out....the entire economy is based on top of our financial services industry....because of the high individual debt load and the extreme reliance on credit, we are absolutely dependent on a free-flowing capital market.....that market is literally crumbling right now....do you have any money in a savings or checking account? in a money market account? in a CD? all of that could be wiped out if the government does not restore confience and increase liquidity immedeately....this is a classic credit squeeze....it has happened many times in history (Japan in the early 90s....the Asian Contagion in the late 90s most recently) and when un-answered by government intervention results in serious serious recession and or/depression....we might still go there even with these dramatic steps..... People who don't understand economics should shut their mouths on this one...you just don't know what you are talking about....this is not a partisan issue a socialist/conservative issue....this is a keep-our-economy-afloat issue.....imagine how your life would be impacted with interest rates at 30-40%....think thats impossible? do you not remember the late 70s and early 80s? That is what happens when banks refuse to lend....that is whats happening now...no one will lend to anyone else....and in fact....institutions (huge companies, foreign banks, foreign governments) are pulling money out of US banks because they are afraid they are going to fail (and when because of our foreign trade deficit we need $12 billion from foreign nations every month just to buy our consumer staples, we can't afford to have foreigners pull their money out).....Bernanke and Paulson are doing just about the only thing you can do at a time like this.....perhaps they should have done this earlier....perhaps their should have been better regulation by Congress....but for now this is what is needed....

Just reading more comments from this section....I am absolutely unbelievable in awe of how stupid some of these statements are....I guess its really true that FOX news is for idiots.....socialist conspiracy? government purposefully created this crisis to take-over the national economy? what are you guys smoking down there in George or the mid-west or whatever backwater you're coming from? Might I suggest getting an education and actually knowing what you're talking about before opening your mouth with this populist ideological drivel? It is just frightening...Its like the KKK meets the 9/11 conspiracy commission....But I guess thats what the Internet does, puts you in touch with people that you would otherwise never hear a peep from....

Sorry comrad Bernanke it1s only three-thousand per person , go ahead.

Yes, this bailout is tragic, but without it the USA collapses. The Government weopon of last resort is the dollar printing press. The Gov will use FIAT dollars and the result will probably be HIGH inflation. The Government's debts will shrink in high inflation, however it will cripple the economy and they know this. Considering the overall damage that this bailout will cause, It make one wonder how bad the Gov thinks the alternative was......

Party on America! but dump your dollars before Sept. 26....the day our debt blasts off!