Economic Geniuses - Please Answer Some Questions!

[RoadRage]

Alright- there seems to be a lot of chatter about the $500 Billion - $1 Trillion dollar bail out today.. and I have a lot of questions. I don't pretend like Palin to have a friggin clue about this kind of stuff - so instead of faking it, I figure i'll just ask some questions in an effort to actually learn something.

1. Who "approves" this bailout? The Fed? Bush? Senate? Congress? I see a lot of people blaming Republicans on this - but aren't some democrats going to be complicit in helping this go through?

2. Is this a loan that these financial institutions that would receive the bailout would someday need to repay when they are again making profits?

3. Is this like the AIG bailout where the government just now owns a percentage, and will take profits and losses? Does the government then put managers in place in these institutions? Again - who decides this?

4. What impact does this have on the elections? Is Bush at fault for this directly or indirectly? How are McCain and Obama differing on their opinions on this situation? Frankly - what ARE their opinions of this situation?

5. Is any accountability being discussed? Like ENRON, will the CEO's of these organizations be prosecuted? Did they actually make illegal decisions that profited for themselves while causing others to lose money - or did they just make very stupid decisions based on the mortgage industry?

6. Where is the money coming from on this bailout (and that of Freddie, Fannie & AIG)? Is it stashed up in some "Use this money only if the economy is seriously fucked" savings account - or are they pulling it from other programs, etc.? How does this effect money for Social Security, Medicaid, Education, etc.?

I think that's enough questions for now. Thanks to all who can help answer.

[AllieB]

1. You may want to cross post this in the Economy forum.

There are lots of knowledgeable people.

[zeemike]

2. Questions I would like answered also

But I fear that we will not like the answers.

[Neshanic]

3. My take...oh and I am not a genius or present myself as one.

The Fed in lockstep with the administration will cower the our Democrat leaders in congress to ram through a "solution". This "solution will be packed with exclusions, as the lobbyists will havea field day. We will be too terrified of being seen as inactive, but yet do not come together to have a offing of a differnt solution. Dodd, Reid, Pelosi will do anything.

The result will be us as the buyer of all things bad. The offending companies and entities will then have a clean slate to continue their pillage anew, as no one, not ONE person has put forth ANY regulations to stop ythis from occuring again.

We will be on the hook for all bad debts that banks, brockerage houses, investment funds, and everything under sun will come and be delivered at our door.

The fact that Walll street is utterly estatic over this, and there is a rapidness to ram this through is proof enough we will get royall screwed.

Upwards of 3 to 5 trillion when all is said and done, and a decade to fix, if we succeed. I am not confident we will, as we slide into economic oblivion under China and Russia.

[CK_John]

4. Money at the national/international level is just a concept. If the concept is not working, just

change the concept.

[RoadRage]

5. 'Till the Chinese decide they want an asset for the concept..

That's when we're fucked. When China starts buying our banks.. our economy.. our livlihood.. that's when we're screwed. It's starting now.