Beach party bailout! Extra Extra Read all about it
Let's face it. It was a busy week for bailout news and a great week for DailyBail to get started. We're excited here and are looking forward to unveiling some of our bigger plans soon. We appreciate everyone stopping by during our soft-launch and hope that every single one of you will take a moment to post something in the comments section of one of our stories. Tell us how you feel about spending your tax dollars on bailing out failure. Share something. We accept all forms of anger and frustration. Though cliche, there is strength in numbers and ours are growing by the hour. Tell your friends about us; tell your neighbors, heck tell anyone that cares about their future and that of their children and grandchildren. We are here now. We are not going away. Everything else will fall into place, including our elected officials. Washington can be made to listen and soon we will launch the means to make them hear us. So join up with your fellow sufferers here for a few minutes and give us a piece of your mind.
Jan 18, 2009 at 2:32 AM
Reader Comments (19)
Best wishes for the new site, although Calculated Risk is/will be tough competition. Having said that, tough competition can bring out the best in people. Will be staying tuned.
old trader
I do have one question for everyone out there. What would happen if all taxpayers reduced their withholdings and then refused to pay the taxes come April next year? If we are tired of them idiots using OUR dollars, don't give it to them! They can't throw all of us in jail!!!! UNITE AMERICANS, RETALIATE AGAINST THE GREED!
@ trust no one
it is definitely infuriating to watch our tax dollars get flushed down the toilet...
momentum is building every day...
the landscape will be changing quickly i believe...stick around and see what we have planned...a big launch is coming...thanks for posting..
I just found your site through TechCrunch. Someone mentioned it in the comments section of an iphone story. I like it. I like that you have no advertising. lol
I am a single mother with 2 young sons and I work in the tech industry in california. Our state is facing a large budget shortfall this year and we have been asking Washington to bail us out and I think it's wrong. The politicians in our state would rather look to Washington to cover our budget shortfall than actually look at the reasons for our shortfall. Yes, revenues are down this year becaue of the slowdown, but the true issue is bloated stae budgets, and health care and pension benefits that have been promised to public workers.
In vallejo which filed for bakruptcy in 2008, there were 42 police and firefighters earning in excess of $200k per year. Are you kidding me? For public employees, this is unreal. And these employees will receive 90% of their salary in the form of a pension for every year for the rest of their lives. And we, the taxpayers of california have to pay for their excesssice packages.
And if Washington just bails out all these states that are in trouble, then these states will never be forced to cutback their spending. And these bloated state salaries and pensions well never be corrected.
It makes me very upset when I think about.
I just finished posting my comments about bailing out California on all your stories. I hope that's ok. After reading everything, I REALLY like your site. Thanks for all the links, too. It was a good round up of everything. Thanks!
So what can be done about it in your opinion?
How do we make change?
Does your site have a plan for achieving some change.?
Great idea for a website. I want to know where and how they are spending my money.
Good luck with the site!
These bailouts are a joke!!! I mean it has gotten so funny that the porn industry wants a bail out to rejuvenate the sexual appetite of America????????????? come on...more and more we look like idiots to the rest of the world with news like this.
Hopefully, some info will emerge that will help us all STOP any further bailouts. Some kind of ammo, or something that will finally make sense to those who are temporarily in power, who are ignoring us now.
The money WOULD be better spent on porn.
@blaze
the larry flynt announcement with joe francis was a genius attempt at satire i think...it was so good that it fooled almost everyone...it was reported as legit just about everywhere...even clusterstock seemed to fall for it...but in the end, it was flynt's commentary on the bailouts...SO, he's actually one of us, i think...
i am going to try to get an interview with both larry and joe for the site as soon as i can get time and get it arranged...
they are both smart and understand it's not smart or fair to use taxpayer dollars to bailout failure...
i won't judge how they made their fortunes...
@blaze
now as for looking like idiots to the rest of the world, that i strue and will take time to repair...
honestly though. the EU and the UK look just as clueless as we do...only germany is voicing some caution and restraint, but even in their case, they are still providing big bailout funds to some of their biggest corporations...
thanks for your post
@bluerose
maybe it could be used to attract a higher level of talent to the industry...
if porn paid like hedge funds and investment banking, $2-$10 million per annum...
never mind, i won't go there...
thanks for posting...and try to tell at least 1 friend or co-worker about this site...it's appreciated
I am sick to death about this bailout nonsense that has been going on to "save" our economy. I am a trader and understand the bailouts for the most part take some panic away from investors and wall street, but what bothers me most is the fact that many anticipated this problem for years and no one did anyhting about it because they were making too much money. "They" meaning those CEO who never have to face any of the difficulity many people are going through right now because their salaries and bonuses got paid to them first and foremost. The model was doomed to fail and they, who suppose to care for the company, didnt care because it is a problem left for the next guy. I have mortgage broker friends who were making a killing during the bubble because banks were calling them pushing to refinance or any way for people with great credit, poor credit, barely any credit, to work with the bank. My friends knew 100% that many of these people have no chance of paying it back and the banks still pushed it. How can we stray so far from fundamentals? Basically i think the bailout was necessary to start to create some stability but the big boys def got away with this one!! That doesnt sit well with many peoeple, but i certainly dont care one way or another as long I as I start making real money again and trade like the mack I once was.
Deluxe out!
It is time, we must stop feeding this spend and hope government. We all need limit the amount we give them to spend, please spread the word. Change your W4 to 10 dependents; this will lower your Federal Income Tax. Deposit the additional net pay in a money market. In September change your W4 to your previous # of dependents, and have an additional Federal tax amount deducted ($ in money market / # of pays left in year). If Millions of middle class people did this it might go a long way to changing the now "We The Government" back to "We The People"
Good stuff Daily Bail!! Great job of putting together bits and pieces from various sources. Thanks for doing the work for me.
I think this whole bailout thing is a HUGE slippery slope! I mean, where does it stop? Pretty soon every Joe Blow (or Joe the Plumber if you prefer) is going to be crying that he can't make any money and he's going to fail, therefore the government should help him out. Never mind the fact that he pockets every dime of profit and then some (rather than re-investing in his own business), never mind that he has no real inventory or bookkeeping system, and just forget the fact that every one of his clients has lodged a complaint. Give him the money!
I personally think this whole thing runs MUCH deeper than just the failing economy. This might even be said to be based in the whole "reward mediocrity" society that we've allowed ourselves to plunge into. Giving children trophies just for showing up to a game? Having them "graduate" from 1st grade?? Seriously???? I never got a trophy or a medal I didn't compete for and EARN, and I think I turned out ok... and if you lost, you went home a little sad and your parents took you for ice cream to cheer you up. Usually, you were over it by the next day. So now that idea's been taken to the next level, and the government is rewarding mediocrity in the business sector. It's ridiculous.
What are the solutions? How about starting IN the goverment, and not letting them get 6-figure pensions for a single term in office! It should be like any other job... your benefits are dependant upon how long you serve and your level of service, not just the fact that you "showed up" for a while. And hopefully, Obama really WILL go over the government spending with a fine-tooth comb and get rid of the ridiculous costs... like running surveys that determine whether we really like brown rice vs. white rice or some such rubbish... Those two small steps could potentially save the country MILLIONS already. Anybody ever seen the movie Dave? Do THAT! yeah!!! Invest the contracts that aren't being fulfilled into interest-bearing accounts and only pay for the things when the contractors deliver! Imagine! At least it's a start... hopefully there are MUCH smarter people than me working on this... I mean, if I can come up with a couple of ideas, imagine what they could come up with... as long as those smart people don't just have their hands out, too....
I agree. The porn thing was a great way to market themselves and make fun of all this choas. This is a great site and I wish the feds would review it.