General Question

Mr_M's avatar

Do YOU think you know enought about the economy to call your representative and say "Vote No" for the bailout?

Asked by Mr_M (7586points) October 2nd, 2008

I know I don’t, yet, apparently, people were calling their Congressman 100 to 1 to say they did NOT want THEIR money used to go bailout the failing companies. The reason I vote for my representative is to defer to his or her judgment in certain things like the economy. What about you?

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11 Answers

EmpressPixie's avatar

I would not have made that call. But, then I was pro-bailout.

I was watching C-SPAN during the vote and the calls that were coming in were driving me crazy. They were letting people call in and give their opinions and the majority of the people were totally uninformed and had no idea what was going on. They were mostly concerned with things like us becoming a socialist state or how this problem didn’t effect them, so they didn’t want to spend their tax money on it. It was incredibly frustrating as I’m sure that they were the same people calling their congressmen telling them to vote no.

JackAdams's avatar

I have already telephoned my representatives and said, “Bail out the American people, not the ‘fat cats’ on Wall Street!”

I have friends who are losing their homes to foreclosure actions.

deaddolly's avatar

I agree with Jack. I’ve never been very into politics, but I have never been of the opinion to make everyone suffer for the actions of a few. There’s always been greed on Wall Street…it was accepted for way too long. It’s time things change.

People are loosing their homes; college loan interest rates are being raised. People are talking about leaving the US.
It’s sad.

In answer to your question, No, I probably don’t know enough about things to make an accurate recommendation to anyone in power. All I know is my gut instinct.

poofandmook's avatar

I doubt I will ever understand finance, because like I said in another thread, I don’t understand anything having to do with numbers, past balancing my checkbook. My brain sees numbers and it shuts off and sometimes even starts smoking. So, no. I don’t have enough knowledge to have an opinion.

kevbo's avatar

If you want an anti-bailout argument, Kucinich provides a good one in the video on this page.

http://rawstory.com/news/2008/Kucinich_tells_Maddow_Bailout_plan_immoral_1001.html

Judi's avatar

I called my congressman and called him a coward and a traitor for voting AGAINST the bail out.

JackAdams's avatar

Stand by to have your income taxes audited, Ms. Judi.

Judi's avatar

YIKES!

Judi's avatar

I didn’t give them my name, but then again with the patriot act and all…...

marinelife's avatar

I know enough about the economy not to do that. The bill is needed. Once a new administration gets in and more is known, the provisions can be modified or additional legislation can be passed.

kevbo's avatar

Another Ph.D. economist who says no bailout. http://www.commondreams.org/headline/2008/10/02
(I would argue that “they” didn’t “miss it.” They encouraged it.)

“If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and the corporations which grow up around them will deprive the people of all property until their children wake up homeless on the continent their fathers conquered.”

- Thomas Jefferson

“Gentlemen, I have had men watching you for a long time, and I am convinced that you have used the funds of the bank to speculate in the breadstuffs of the country. When you won, you divided the profits amongst you, and when you lost, you charged it to the bank.

“You tell me that if I take the deposits from the bank and annul its charter, I shall ruin ten thousand families. That may be true, gentlemen, but that is your sin! Should I let you go on, you will ruin fifty thousand families, and that would be my sin! You are a den of vipers and thieves. I intend to rout you out, and by the eternal God, I will rout you out.”

- Andrew Jackson, the seventh president of the United States, to a delegation of bankers in 1832

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