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Comments

• [1] superf88 October 01, 2008 - 10:03AM

  did the doubling or tripling in the last 8 years of housing "values" -- and correlating rise in municipal tax collection -- translate to double or triple spending on schools and roads since 2001?

  if not where did the extra tax millions go -- rainy day funds I hope?

  
  
• [2] Aurelio Quinones from Manhattan October 01, 2008 - 10:29AM

  Presidential ambition. Bloomberg's move could also be seen as part of a broader strategy to position himself to run for President in 2012. It is better to run as an elected official and once you leave office it is hard to keep the same amount of visibility and relevance and aura of indispensability (cf. Mayor Gulliani). By being -re-elected Mayor and being "hands on" during the financial crisis, it places Bloomberg the best place from which to run for President - assuming an unpopular or unsuccessful next presidency.

  
  
• [3] hjs from 11211 October 01, 2008 - 10:30AM

  we should just sell public offices to the highest bidder.

  we cut out the media middle men and the cash goes to the treasury.

  
  
• [4] kevin from NYC October 01, 2008 - 10:49AM

  brian, you just "what was pelosi doing giving a speech like at such a delicate time". (dont have the exact quote) that is fair question, but i would have liked to hear you say "what was mccain doing putting presidential politics into delicate negotiations last week, possibly unsettling the entire negotiations!"

  
  
• [5] KC from NYC October 01, 2008 - 10:52AM

  I'm not sure why that stat is "amazing"; I own plenty of stocks, and I think this bailout was a terrible plan. I'm not opposed to government intervention, but this plan is a joke.

  Ireland is a Keynesian welfare state. As such, that action makes sense for them. We are not a Keynesian socialist democracy, so the plan doesn't make sense for us. Unless we want to become one, which makes sense, given the amount of public money we are tying up here.

  
  
• [6] levine.josh October 01, 2008 - 10:54AM

  nonsense -- if there are credit worthy entities there WILL BE A CREDIT MARKET. "Insuring" it without accounting for real risk, of course, just deforms the "real" market.

  China, India, Vietnam -- these countries HAVE NO CREDIT MARKET to speak of!! Or didn't until recently -- and may I remind you they are eating our collective lunch.

  
  
• [7] Anne from NYC October 01, 2008 - 10:56AM

  What is wrong with the idea of giving each tax payer $1,000,000? The money would be deposited in banks, thus helping their liquidity. Troubled mortgages would be paid off, and consumers would do what we do best: spend. This will boost our economy. Wouldn't this cost less than the $700B presently proposed?

  
  
• [8] hjs from 11211 October 01, 2008 - 10:58AM

  was the disappearance of burritoville related to the credit collapse?

  
  
• [9] Brenda Wilson from Sunnyside, Queens October 01, 2008 - 11:01AM

  Spoke to my family in Ireland this morning and they told me that there has been significant rise of British investors in Irish banks because of the govts. 2yr guarantee!

  
  
• [10] Tabitha from Brooklyn October 01, 2008 - 11:14AM

  Am I the only person who kind of feels like the urgency for the bailout is a scam? Consider, please: McCain said that if we didn't have a plan by this past Monday, we'd be in HUUUUUGGGEEE trouble, we'd all have to get out our hobo bags and hop a freight train to Candada, etc. But then the bill fell through... and everyone went home for Rosh Hashanah. Seriously? Isn't it within the President's power to call Congress to session in emergency situations? Didn't this, if you believed the hype, constitute an emergency? But no, we'll let a majority Christian/non-denominational Congress go home to celebrate a Jewish holiday, and the center will still hold until Thursday. Riiiiggghhht... Congress needs to sit down and take its time until we have a bill that WON'T put our great-great-grandchildren in debt, assuming we haven't reduced this planet to a charring cinder floating in space before then.

  
  
• [11] hjs from 11211 October 01, 2008 - 12:18PM

  Tabitha

  y2k all over again

  
  
• [12] Corey from Brooklyn October 01, 2008 - 04:21PM

  As a mortgage professional, still employed in this industry, I see machinations of monetary volume transfers on a daily basis. As far as lending Wall Street money, let all of the large lenders (Chase, Citi & etc.) pass the bucket around and come to each others aid. As a Republican and a New Yorker, I see no need for our government to come to the aid of these lenders for their irresponsibility.

  
  
• [13] Myriam F. from New York October 01, 2008 - 04:32PM

  Corey,

  That's an interesting comment.

  I am worried that this bill will go back to the House, virtually unchanged at a time when there is more pressure on members to vote for it. I don;t believe the American people overall are against A BILL to help solve the crisis. But why is the current version of the bill not that different from Monday's? Are there any new provisions for accountability to avoid the type of machinations that Corey mentions? It is outrageous; isn't this what got us into the mess in the fist place?

  Media people, please please please be tougher with your questions!!! Question what is going on, please.