CNN

@ ran "Unless my math is wrong, we have 200 million people over the age of 22 and if we gave each $1 million it would cost $200 million. Why do we need the billions? Give us the money and we will stimulate the economy overnight."

Your math is wrong.
200 Million divided by 200 million = $1

Suggestion for the first overhaul implementation, get rid of Barney Rubble Frank, he should be charged with treason for his role in the mortgage mess. Now we have these same idiots overseeing the bail outs. What a joke!

That's right! What we need is a more socialist approach in agreement with Obama's management philosophy.

Pray tell...how does one dig out of a hole by digging it deeper???

That's right, that's right. Change it because it is not yet Socialist enough.

WE AMERICANS SAID NOTHING WATCHING BUSH RUN OUR ECONOMY AND COUNTRY BEYOND DISASTER AND NOW EXPECT OBAMA TO FIX EVERYTHING OVERNIGHT AND BUSH IS STILL OUR DO NOTHING PRESIDENT THAT WE WILL BE TAKING CARE OF FOR THE REST OF HIS LIFE AT OUR EXPENSE.

I definitely agree with boosting the economy by giving the bailout funds to the taxpayers. But we have to throw out some realistic dollar figures.

The annual GDP is not big enough to give every taxpayer, let alone each household, $100,000. That's upwards of $15 trillion. Now if you work toward giving to households which paid taxes and roll off progressively above some geographical median income (have to be realistic as to how much money will work for the household), you might be able to squeeze out $5K – $10K per household within the limitations of the federal budget.

At the same time, looking at what it takes to give the average taxpayer a little boost, take another look at the financial company execs, CEOs, lawyers, Congress, an AMA blocking national medical care, AIG, large insurance companies. Take a look at the wealth they control compared to you and make your suggestions to the President from the position you are in.

To: jfs Memhis, Tn
You hit the nail right on the head, welcome to the Libertarian party!

Here is an idea...U.S should stop spending 6 million/day in Israel so we can revive our economy with OUR hard earned money..

CNNMoney: 2.6 million jobs lost in 2008 Great Job Georgie and Republicans.

I think anything Bush has had his fingers in needs to be looked at. It's going to take decades to undo the Bush debacle.

TCM – Wow what a Idiot. I hope and pray you haven't convinced yourself of the crap that comes out of your mouth.

Did this article say George Bush or Obama? Funny how republican Idiots are jumping all over Mr. Obama, and the Idiot sitting president Georgie Bush is still President. Wow now that's hate from a real hateful group.

I totally agree with Nadine comments. Give the people (tax paying only, not illegal immigrants or non working welfare receipients) the money to decide, and I am not talking $900. Pay off your debt, everyone is bailed out. Set strict limits on future credit lending, LIKE IT USED TO BE. The money the banks received bailed them out, but they are still demanding the taxpayor pay up what they owe. Would that be like receiving double pay if you pay your debt to the bank that they have already received from the government? Where's the accountability?

I have read most of these comment, and what BETH is saying, she is RIGHT.......It doesn't matter if they continue to get money from the taxpayers, these BAILOUTS are not going to work......The BANKS are not lending, period....and since that is happening, there will be a Recession, like nobody has ever seen....

TCM...

Was your head WITH you for the last eight years???

Obama was not running the country the last eight years...

Bush Divided the country... NOT Obama

Bush gave tax breaks to the rich.... NOT Obama

THESE tax cuts are for business that will KEEP JOBS HERE.
just like he said in his campaign promise

(that last line is for marc, "i told you so", and LIP.

Before they had even given the money to the banks, they should have been stibulations on how that money was spent. If you apply for a student loan or a loan period from a bank, they want to everything from your income to what you ate for dinner. I believe that President Bush, Cheyney and Paulson received some of this money illegally as well as some of their coherts.

They should be indicted, brought to trail and thrown in jail.

Dear Friends:
Is this a joke! The unemployment will rise to 25%-27.5% nationally!
The 2,000 homes approved are already there in Bushes Administration for the Katrina, IKE and Gustov hurricane victims. Unless you cannot figure that one out. Obama cannot be realistic.
Hey the troops are allowed to drink beer. That ought to help their night vision and aim ability or quick action for a cell burst or threat as in an Egyptian hotel manager in Rancho Cordova that was sent here to kill George W Bush. Oh hey! Obama serve Senator beer to those in the streets for your party! Why this is a one time historical event there should be more than those mentioned coming to the White House. Celebrate wild and fun in the streets! Historical! Tell your children about it! Buy and collect Senator Beer bottles and cans. Help the economy and hit a few! But hey never can you be part of this world change event.
Take a friend from work, home, your clubs all ages! Rock the district of Washington DC! Wear fashion that makes a flashy statement! Long Gowns, Furs, Suits, Tails, make it a week long celebration!
Tail gate parties! Street parties, private parties in the streets, Al Quida come terrorize and reguvenize! make it a blast of an event!
Kidding! But more attention you can be in and on the news.

TCM January 9th, 2009 11:14 am ET

To those that say, "LET IT GO." Well, it was let go, and now conservatives are reaping the consequences for not monitoring the illegal activities of Obama's campaign…
------------------
Let it go.

obama rules!

The good news is Joe the Plumber is going to the middle east, so we should not have to worry about that problem anymore. I know there will be a peace agreement coming any day now. So everyone in the states can focus their attention on the the Economy. I think if Mr Obama would appoint Rush or Sean to his economic team we would soon have that crisis solved also. Gosh I miss Sarah she would have straightened out this mess before anyone could say Wasilla HillBilly.
But seriously, lets give President Obama a chance to at least try and fix things before we crucify him.

JJ12345,

Maybe you haven't been paying attention until now, but Obama did give ideas before the bailout bill was signed; and so did other members of congress. Once the funds were released, officials in the Bush administration changed the rules and did what they wanted with the money. Go to C-Span and watch all the hearings.

if the government stopped to think about how to really bail out this economy, they can give each tax paying legal citizen (those people that work and pay employee tax) about $100,000, put this money into the hands of the people to pay off their debt, car loans, house loans, credit cards, student loans, the money would go back to these business that are in need of the money, the debt will be gone, the businesses that need the money will be paid off, etc. Instead the government is bailing out the businesses that "need" the money, but do not use it wisely (vacations, "meetings", etc), and then we the people are still left to "bail" these businesses out. Wouldn't that make sense to allow the people of the United States to decide how to best work with the bailout money, not the government. Now if the person decides not to pay off the debt, but use the money for other purposes, that person is SOL, it is a 1 time deal. I personally think that the people should have the ability to decide. Isn't that what obama promised, that the voices of the people will be heard, but he is doing what all the other politicians do, deciding our fate himself, oh and his croonies.

Do ALL of those things!

Randall from FL-

You are making the rest of us look stupid. Could you remove the 'FL' from your post?

Oh, I almost forgot, you @#%&$#@ moron!

@ TCM

And when Obama proves to be a wildly successful and popular president who helps fix this economic mess, stabilize the economy and return our country to a place of respected prominence in the international community? Hmmm? What are you going to say when you look us in the face then? That's right, nothing, because "I'm sorry" isn't in the GOP's vocabulary.

First, I'd like to address the issue of focus groups and polls: these are great tools for taking the pulse of the targeted audience. The problem for both is selection of the group and sample size. Focus groups are used extensively for marketing new products, and have a significant success rate. You don't have to have everyone knowledgeable about the topic even, as they usually prequalify the group to try and get a good cross-section of people so that they get a variety of opinions. Polls are something else. They are usually randomly selected, and with much too small a sample size to be really effective. So the methodology of both focus groups and polls can lend itself to being effective when done RIGHT. The problem is getting them done right. And in the end, polls and focus groups are just tools to help make decisions, they can't make decisions themselves! And the decision maker is under no obligation to make their decision based on the results.

But the significant point being missed is that President Elect Obama is at least TRYING to find out the opinions and thoughts of the people, and not just relying on what lobbyists and his aides are telling him. This gives him yet another source of information - and information is NECESSARY for making good decisions. He isn't President yet (11 days and counting!), so now is a good time for him to be collecting such information. Give him a break, guys.

If you want to make a suggestion, in all seriousness, go to the http://www.change.org website and put in your suggestions. PE Obama promised, and I believe him, that he will review those suggestions input there. I've put in several, myself. Since I voted against my Senators and my Representative because they do not represent my viewpoints, it seems the only way to have my voice heard at all. Find political action groups that represent what you want to get heard, or found one if there isn't one already. Government is WORK, and it is not just the work of the people hired or elected, it is also the work of the people being governed to stay educated, to stay active, to vote, and to express their feelings.

TCM – January 9th, 2009 11:14 am ET
A little more bitterness from your part is yet possible or you just threw everything you had? Face it, the country IS already divided. That has been the official politics for the past 8 years: 'either you are with us or against us', and if that's not enough to divide a whole nation what about 'those who vote on us are real americans/patriots'?
The economic crisis is so big that for the first time ever a PE had to start working on the economy before being inaugurated. Barak Obama has displayed his plan knowing full well that it would receive critics, but also knowing that he would be able to work on the approval of the plan (or in its modification to a more acceptable one, for the Congress) which is what he's doing.
Inauguration is in January, 20th, but the PE is already making sure that everyone knows who will work with him and what are his plans for the crisis and the country. When was the last time, if there was a similar occasion in the past, that it happened before?
And as for the 'unscupulous attainment of the presidency' bit, it's called 'ELECTION' and McCain lost, and accepted it. Time for you and the other GOPers do the same...

who's screaming bloody murder on

leon pannetta becoming spy boss:

why they are screaming will become obvious!

@ TCM

OK, I'll bite. What were the illegal activities of Obama's campaign. Please do tell. In fact, I bet you CNN would pay top dollar for your information, seeing as how nobody else in the entire world has it and you'r ethe only one in the know. Oh, what's that? You have no facts or evidence to back up the claim? Oh well, I guess you'll have to go without the millions that such information could've brought you.

Obama hasn't even taken office yet people. Stop blaiming someone that hasn't done anything yet.

Gee, how great it is to see that so many of the comments show that we AMERICANS are seeing the light. The banking bailout, the theft by the ceos, understanding and showing some empathy for home owners, and so much more. So many intelligent comments, so much knowledge, deep thought, getting the facts, doing research. Believe it or not that is what PE Obama wants us to do. He also has a website so you can contact his off. I THANK SO MANY OF YOU WHO STATED TIME AFTER TIME "HE IS NOT THE PRES. YET". I read comments often, learn a lot, stimulates my thinking. When more Americans realize WE are the government we will make progress and this country will be a better place for us ALL.

GOD BLESS US ALL, GOD BLESS PE OBAMA AND HIS FAMILY. MAY GOD GRANT HIM WISDOM AND GUIDANCE ALWAYS

Obama needs to be treated the same way the Democrats treated Bush. Then it won't be hatefull, lol

All this talk that he isn't President and to chill out is a bunch of bunk. He was elected and he has to be ready to administer government immediately. The world is on the brink of world war, the economy needs a cure not symptoms being fixed with bandaids like a stimulus package.

Reagan before he was inaugaurated was negotiating the release of the hostages in Iran. Now that is leadership, something I will find many of us will see is going to be lacking the next four years.

Barack won, but we the American people have truly lost.

hey TCM, not sure if you've been living under a rock the past 8 years, but the country is ALREADY broke and divided!! it was "conservatives" who spent like an 18 year old with a shiny new credit card. aren't you all supposedly fiscally responsible?? hmmm... looks to me like us "Libs" are the parents who have to stamp down the rules and administer tough love. i applaud PE Obama for his candid nature when it comes to this crisis, and love the team he has put together. Let's get back true-de-form!!

Here's an idea....instead of cutting checks to any company, or giving tax rebates or giving money back to individuals...how about the gov not take so much of money in the first place! A $500 or $1000 dollar check after paying $XX,XXX to the gov it stupid! Take less and manage it better!

Oh wait! Sorry, forget that doesn't help people who don't pay taxes! (I'm not talking about those in poverty who work hard and do pay some form or tax, I'm talking about all those people who are cheating the rest of us who pay their nannies under the table and those who are capable yet don't work and get a check!)

that is the silliest presidential seal and podium i have ever seen in my entire life..........LOLOLOLOLOLOLOLOLOLOLOL

kathy January 9th, 2009 10:17 am ET

I am amazed at the lack of oversight. Thank goodness Obama will pay attention to this and try to insure this money is spent wisely. The lack of leadership on this issue from the current Administration is beyond belief. Once again we see the support of corporate greed from this bailout. Isn't that what got us in this mess?
___________________________________________________
How come none of Obama's ideas came out before he signed off on the first bailout bill? If the ideas were so great maybe there would be room to work with the DEMOCRATIC congress.

Otta Nobetta January 9th, 2009 10:13 am ET

BO should change the bailout.

It was just another lie sold to us by W, 'the world will end unless we act'. I can't believe the mess tha Bush has left the world.
____________________________________________________
Not to take blame away from W, but it was and is a democratic congress. If they know so well how to fix this why didnt it happen the first time.

Phil: "Distribute 300 million dollars to the 300 million Americans in this country and watch how they will spend it"

Lets see ... $300 million dollars, divided by 300 million people, is ...

One dollar.

Yay! I can buy chewing gum!

"Consider creating a new bureau within Treasury for the bailout. Its goal would be to ensure greater oversight and better management. "

There you go...creating more jobs by expanding the size of Government...

Really Tim, 5 – 10%, are you a statician or should we include you in the qualified opinion group?

Rachel: "I am typing up my own request for a bailout to congress. I only need about 35,000 much less than the auto and bank and adult film industry requests. Think I will get it?"

Have yourself declared a "Bank Holding Company". That's the key.

The reason I'm not spending is because of uncertainty – the uncertainty is because I don't trust our government or Wall Street anymore. I have even stopped all contributions to retirement plans, 529's, Roth's, you name it. My checks are not direct deposited anymore...all because I don't trust greedy, rich people anymore and that's what our government consists of. In my opinion most of America feels the same way. If you want to fix America's problems, prosecute every business leader or government official that is out for themselves. You are either in it for everyone or for no one. Padding the pockets of the already filthy rich is not the answer.

Obama's plan stinks

1. Giving money to people to save their homes isn't fair to the people who bought houses they could afford. Why should my taxes pay for these peoples homes when they were too dumb or lazy to do the math.

2. Maybe credit is still tight because a large percentage of people applying for loans have low ratings and shouldn't get the credit or are trying to borrow more than the can pay. You should have more money coming in than you are paying out every month. After all that's what got us into this mess in the first place. There is credit available, you have to have a good credit rating. I just financed a new car with out any problems.

To all the Bush and Republican bashers, who are you going to blame one your messiah (Obama) doesn't deliver? \

Tim,

Very well put comment on decisions by politics and polls.

for all you idiots laying blame on Obama, remember,
he has not even taken office. Look who has been in charge the last 8 years and start there.
Oversight, something the bush Admin never believed was necessary, is a key to getting the allocated funds to work in the way intended. We all complain about exorbitent salaries and bonuses, so the PE has a proposal to address this.

A few questions re: the bailout:

1. What will happen to the value of the dollar?

2. What will happen when interest rates on these bailout funds is increased?

3. Considering the present economy, why did Congress vote themselves an increase in salary?

4. Considering the present economy, why has the vice-president elect already started to travel? Since he does not have the power of the vice presidency, what can he really hope to accomplish?

5. What will happen to social security if the funds now being put into the system is decreased? When the funds have been used, will there be another bailout?

Chris from Florida

Now is the time for all Republicans to sit back and watch the circus that the Democrats will make of Obama's stimulus plan.

With Pelosi and Reid in charge there is no way that the greed and special interests of the Democrats won’t be exposed. I have watched this process in Illinois where Democrats control both houses and the executive branch. Like Illinois Democrats in charge will only be one big dysfunctional family.

Democrats enjoy your time in the sun; it won't last long before the storm rolls in.

Here's an idea for a penalty:

For those who knowingly drove these companies into the ground, taking advantage of the public's trust and governmental insurance programs, make them work high-level jobs until 70, but give them only $2000/month to live on, with the rest going toward repaying the bailout.

To Randall from FL – Please explain to me how President-elect Obama lost this country 2 mil jobs. Wow!! amazing, he's not even president yet and look at what he's done. Hmmm could you possibly be a republican – bet you're really going to miss G.W..... Maybe if our wonderful President (yeah the one that's been sitting in the WH for the past 8 years) had the ability to multi-task, he could've paid attention to the economy, but aahhh he was too busy I guess, ya know, looking for WMD. Oh yeah and his sidekick was too busy counting his $$$ when his buddies from Haliburton were ?'d. Yeah but hmmm, it's Obama's fault..... life has been so prosperous here since GW has been at the helm......

Rick, this is not Russia all over again. Obama has never advocated Communism. Do a little research before you start typing!

It is about time that someone is calling for some accountability in regards to this "bailout".
We have banks that took OUR money that are refusing to disclose what they have done with it.
I believe any bank that is unwilling to disclose how they are using OUR money should return this money NOW!

And to all the Obama haters out there.
This man did not get us into this mess.
He is not even President yet but he seems to have a better handle on the crisis than the current pResident.

@ Randall from FL

Blaming Obama for 2 million lost jobs? Please explain to all of us how Obama is responsible for 2 million lost jobs. No really. We'd all love to hear your theory. I'm sure it's carefully thought out, supported by facts and evidence and a solid, provable causal relationship and not at all insane, irrational or based on sour grapes that McCain lost the election.

@ RANDALL......... YOU ARE SERIOUSLY BLAMING OBAMA FOR THE JOBS LOST?????????????????

BUSH IS PRESIDENT, HAS BEEN FOR EIGHT YEARS THE JOBS LOST ARE ON .......HIS..........HEAD!

I agree with Gerald at 9:54.

btw. Bush didn't do anything the congress didn't approve of.
Presidents don't run the private sector businesses. Jeez, some people know zip about government.

Don't you see it? Since the Iraq war didn't pan-out as expected. Bush, Cheney and friends had to increase their wealth some how before leaving office. We sure are dumb.

Good, it needs it.

To those that say, "LET IT GO." Well, it was let go, and now conservatives are reaping the consequences for not monitoring the illegal activities of Obama's campaign....and he was handed the white house. We'll all have to endure his incompetence though, and time will show that it will be liberals, not conservatives that will ask for his head first; once he continues to step on himself....already, CNN's Campbell Brown is criticizing him, shortly after he was her "shining star," for his "lofty and empty speeches," about the economy....so, yes, we've already let it go, and are paying dearly for it. The sad part is, you libs are paying too (but still smiling!) , and will pay more dearly...at least I can say I didn't have part in his unscrupulous atttainment of the presidency. I can look anyone in the face, when the country's broke and divided and tell them I didn't vote for it.

Kudus to all bloggers who are offering up ideas, right or wrong, at least trying to address a problem, which is what the Obama administration is tasked to do "for real"!!

If all one can do is criticize "you are part of the problem" I hope you can understand this.

No one needs a free ride, you should be responsible for your debts, predatory lending should be outlawed, we all need to cut back and work together and support, our families and communities to the best of our individual abilities.

Tim provides reasoning behind his remark. carlo provides no logical response, but instead makes am implicit attack on the speaker by implying the speaker is bitter. There is no question who is being more logical, and it's not carlo.

@Randall are you really that ignorant?

These job losses are courtesy of your prez Bush!

The Federal Reserve is not part of an Administration.
Nancy has changed the rules in congress. Look out! We are really in for it now. She has let O know she is the boss. After all that is where the laws are written.
BTW. I am not going to pay 95,000 for an electric car which costs me 500 a month in electricity to charge it up. I bet the buggy whip companies would have liked a bail out too.
Public works projects did not get us out of the depression. WW2 did.
Creating more government jobs whose salaries are paid with our tax money doesn't seem right either. I see Congress gave themselves a raise which is automatic. They could have said no. They like to call themselves public servants. Ha. Like they aren't all millionaires and go to DC a few months out of year, sit around a talk, mess things up and go back for more months of campaigning. Must be an ego factor in play.

So now not the lobbyists are back at the washington table, they will get federal funds shifted back to their sponsors. O and his team are providing a great disservice to all taxpayers, the STATUS QUO has not CHANGED, and the rich will get theirs at the top and the bottom he talks about are still the poor, not at the table of government. THEY won't hire unemployed people and they won't help unemployed people. They will be more unemployed people guranteed.

Wow. I'm beginning to think NIMH is going to need to research and add a syndrome to the DSM-IV for some of you whining GOPers who are so irrationally hellbent on finding flaw with steps Obama is taking to prepare for the transfer of power even when they are objectively reasonable and well thought out.

He won. McCain lost. He's black and you're going to have to live with that. Grow up, wake up and suck it up.

Here's a better idea......get the government out of the way and let the free market rule the economy.

All of you on this blog need to google "zeitgeist adendum" It will explain why there was no oversight of the money used for the bailout.

I pay more than my share of taxes and I don't want the crooks on Wall Street, the Banks, or the Idiots that buy stuff they can't afford to get one cent. We need to create jobs, spend less, and save more to get out of this. I don't know when America became the land of entitlement. We are the only species on this planet that rewards greed, stupidity, and laziness. I don’t think that anyone in this country is against lending a helping hand but there is something fundamentally wrong with a whole sale bail out.

@Randall from FL January 9th, 2009 10:03 am ET

Thanks for flushing 2 million jobs down the drain, Obama. No really, nice work. @*&#!!

___________________________________

You need to re-think your logic. I think Florida and the "hanging chads" are part of the reason we're in this mess. It's the reason we have been blessed with the mess for the last 8 years. The election was in Nov and Obama hasn't even been sworn in yet. How in the world can it be his fault? You surely don't think we lost 2 million jobs in 2 months do you?

Campbell-Brown, CHILL OUT! The man is not even President and you expect him to act like one. Then, should he act like one we'd hear how presumptuous and bombastic he is. Give the man a chance!!!

January 9th, 2009 10:15 am ET

Unless my math is wrong, we have 200million people over the age of 22 and if we gave each $1 million it would cost $200 million. Why do we need the billions? Give us the money and we will stimulate the economy overnight.
______________________________________________________
To Ran,

Not only is your math wrong but way off if you give 200 people 1 million dollars then it would equal 200 million if you give 200 million people a million dollars you are looking at $40,000,000,000- That is 40 trillion. Please people do the correct math or leave it to the experts

Finally someone is demanding accountability. Paulson/Bush handling of the first release of funds was criminal. Not only bonuses but $400 million was used for Citygroup to put their name on a stadium. They allowed the financial institutions to thumb their noses at us and use our taxpayer dollars however they wanted. Can payback be demanded from these CEO's etc??
Far as Brown/Blitzer they will never give Barack Obama or any democrat any credit for anything. Get use to it. This is CNN.
Our only shining light was Jack Cafferty but he hasn't been hisself lately.

IndiaPA> Larry Flint was kidding around (and trying to make a point) about the porn industry wanting a bail out. Calm down.

The real problem is they are giving these companies our money and the companies are only using to stay a float to go after the people that are in trouble. "in other words they are using our money to help themselves not the people in trouble"

it would have been better to give the money to the people and let them pay their loans off or help them, and no i don't mean give them cash but a give them voucher or something like that to give to the creditor to get caught back up.

How about the Obama supporters just donate all their money for his bailout plan!! I would love to receive my share from a bunch of idiots!! By the way, good luck with your $20 per pay-check! LOL!!!!!!!!!

Guys, guys...for people blaming the people whose homes have been foreclosed on, do you know why most people's homes have been foreclosed on? Not because they're lazy bums who bought more house than they could afford, but because they are going BROKE trying to pay their medical bills! Add to that millions of people losing their jobs (therefore, no health insurance), well foreclosure is bound to happen! It's a vicious cycle.
I hope Obama makes these banks and insurance companies accountable for every last cent. I can't believe they were basically given a blank check!

It's amazing to me how people on here are criticizing Obama for his tax plan when most of us can't even fill out our taxes or balance our own checkbooks every month. Even Norm Coleman has refinanced his home 13 times, yet he wants to get back into the Senate and make financial decisions. I don't know a lot about the economy, but I know that whatever Bush has been doing for the last 8 years, Obama needs to do the opposite. I'll leave the details and specifics to the people who actually know about economics.

Why did the second half of the money never get released ? Why was it so urgent ? Why was Secretary Paulson briefing the Obama campaign during the election ? What state is Paulson from ?

Henry Paulson is a Christian Scientist (No Religion) and an enviromentalist (can you say Democrat in Republican clothing?)

People who deserved to get credit, could still get credit. This little bailout was an engineered election year October Surprise that put our Economy into it's final tailspin.

I like the idea of using the additional money to help the people in foreclosure and freeing up the credit markets for loans to people. Those things specifically will help.

Want they give another stimulus package to the tax payer in amout of 30 to 40 or even 50 thousand. So the american people can get out of debt or pay some depts off. Where the money would be put back into the circulation to these companies that is and will continue to ask for a bailout as long you allow them too. Then american tax payers would be more receptive to spend money and learn not to put themselves in so much dept if giving a chance. Instead of giving it to these big paid excutives that's making hundreds and thousands of dollars a year. Flying on their private jets or having these enormous parties to boost their ego's. Where the american people going to have to pay taxes for it anyway. I understand there's a way of doing things. But you also have look at the bigger picture With your own first, we the people and what the United States of America was built on. We have to many families that is one pay check from being on the streets. It's sad but you all know to well it is true.

Tim:

Let it go. Obama won.

Our enemy is not Republican or Democrat,its the tapeworm called the Federal Reserve Bank.They control the worlds money,therefore they control the worlds people.

Randall from FL January 9th, 2009 10:03 am ET

Thanks for flushing 2 million jobs down the drain, Obama. No really, nice work. @*&#!!
---------------–
You're blaming Obama for everything Bush did? While you're at it, why don't you blame him for Watergate, too! After all, he was over the age of 8 at the time.

I hope they really mean "overhaul" it. 1) Personally, $500, as an individual tax credit, isn't going to help a bit; so why go through the farce? 2) Larry Flynt requests bailout funds for the "adult entertainment" industry. Give me a break!! If this yo-yo gets any bailout money, every voting member of Congress should be impeache!! 3) Nancy Pelosi's husband benefited to the tune of $25 million from bailout money in California. I'm sure he, like the partying bankers, really needed the money. Okay, begin the overhaul!!

ran – your math is wrong. If we gave 200,000,000 (200 million) people $1,000,000 ($1 million) each, it would cost $200,000,000,000,000 ($200 trillion), not $200,000,000 ($200 million). To spend $200 million on 200 million people, that amounts to $1 (one dollar) each.

Rachel, let me know if it works. I only need $15,000 to be debt free.

Create a new bureau? Are you kidding me? We already had a bunch of bureaus and commissions and committees and organizations that were supposed to be overseeing the financial industry, and you see how well that worked out.

Wake up America!!! Our economy is in trouble because of trade deals. We only buy foreign goods anymore and that is why there are no jobs, bad morgages, and a failing economy. I really don't care how much a gallon of gas costs, my grocery bill or my rent if I don't have a job or an income. When will someone step up to the plate and say "we need to protect the American workers first". Does anyone remember Ross Perot? He said " if NAFTA and other trade agreements get started, you will here a sucking sound in this country, it will be all your jobs going over seas." Everything we buy is foriegn, so scrap the trade deals and go back to when everyone was employed during the time of tariffs.

gotta remember, Obama didnt have a hand in it and he wants that control so he can control the people and get his hands on your savings and investments, its russia all over again

tim, hes not president yet. i dont understand why you word your response like that. very ignorant

Ah, yes. More comments from people who do not have a clue about economics nor the reasons beind our current downturn. Just a repeating of talking points from, mostly, Rush Limbaugh, Sean Hannity and the anti-consumer Republican jerks who put the economy in the dumpster in the first place.

YES, Please support this trough the media! This needs to happen! Encourage it to move in this direction, and for Obama to actually DO this!
Thank you

THE WHOLE WORLD IS PRAYING FOR OUR DEMISE?

find out what your congressman is about to do regarding ISRAEL'S BOMBING palestinians in gaza.

write to your congressman/woman and senator and

make it clear where YOU stand on this issue.

you are NOT INNOCENT but RESPONSIBLE for your own action or inaction.

I have been hoping to hear this. The Wall St. bail-out was constructed in a haphazard fashion, typical of the Bush administration, without consideration of its unintended consequences or effectiveness.

So honestly – After seeing how worthless to American citizens the initial bail-out (or should we say – the fianancial help to Bank Execs and the rich elite) was – People are really angry he is just not going to give them the other $350 million?

Good Lord, this guy just can't win.

America has been clammering for a President to tell us the truth and then when he does we cry because we aren't strong enough to take the hard medicine.

Americans are just sad.

Tim January 9th, 2009 9:51 am ET

Obama,

Get a clue. Stop using focus groups and polls to figure out what to do. We want a leader to lead the country, not someone beholden to polls. What, maybe about 5%-10% of American's may be qualified to offer and educated opinion on any particular topic, but you are going to go out and ask everyone what they think before you make up your mind on what to do with the economy.
------------------
I think what he's trying to do is to keep the American people involved and engaged in the governing process.

And we should step up to the plate and give the best input that we can.
Isn't how a real democracy should work?

Will the blue signs end when he becomes president?

Gosh....doesn't it seem that the Obama just has no clue how to handle this situation? I don't think our future looks very bright if the leaders aren't very bright.

I am typing up my own request for a bailout to congress. I only need about 35,000 much less than the auto and bank and adult film industry requests. Think I will get it?

The Bush/Cheney Hate Lemmings never cease to amaze me. Did any of you lemmings pay attention to the press conference Bush, Pelosi and company held when they insisted the world was going to end if they didn't throw money at the financial institutions fast and loose immediately? When was the last time we witnessed such a political love-fest between the Democrats and Republicans in the last 8 years? Who was responsible for turning 3 page bailout measure into a 300 + page convoluted nonsense mess of a bill in a matter of days? Which elected officials can't fall over themselves quick enough to give way more "bailout" dollars, putting the tax-payer further in debt?

I work as a branch manager for a major regional bank and I have to say I am very disappointed in my bank and how they are utitlizing the money they received from the bailout. Prior to the bailout the bank was not talking about any aquistion quite the contrary, when we the managers asked if we were in any position to purchase other banks we were told no, while our bank was fairly conservative in our lending practice we had taken some loses which would prevent us from aquiring another institution. That was what we were told. Now they received over 2 billion from the bailout and we hear whispers about us acquiring another bank. It doesn't make sense. I have submitted loan applications for good qualifing business customers who cannot get approved unless we secure the line against a CD. Congress really needs to reconsider the over sight on this bailout. I have been in banking for 15 years I worked for WaMu 12 of those 15 years they got in trouble because of greed plain and simple. I truely loved working for WaMu and it is unfortunate what happened but the reality is everyone turned a blind eye to lending practices as long as they were hitting goals and making money. What makes congress think that banks will be responsible with the bailout money with little oversight?

Gerald January 9th, 2009 9:54 am ET

I was never convinced as to the damage as a result of Not bailing out these companies! Want to stimulate the economy? Take half the TARP money and cut a $10,000 – $30,000 check to every US tax payer earning under $200,000, less for those who make more so they won't complain of unfairness, and watch what happens to the economy! People will pay off debt and buy things with it. People will save and invest some of it. It's all good!
___________________________________________________

I have been saying this all along. Giving our money to the banks and the auto companies is not helping the taxpayers. They are still unable to purchase anything much less get a loan.....

Does anyone find it at all interesting that the Democrats are now putting their arms around and embracing the very thing that they rejected during Bush's years. Tax relief or economic stimulus by way of tax rebates. Oh, I know, it is different; right. Rather than get it back in a chunk, we get it incrimentally ,a month at a time. Is this really different?
Stimulating the economy by giving us money to spend on products made in China...now that makes a whole lot of sense. No more than what Bush did...two wrongs don't make a right, but it buys votes and placates people.

THE MONEY IS ALL READY GOON.AIG GOT $154BILLION. NO ONE GOT THEIR HOUSE BACK ANOTHER $900 BILLION WENT TO OTHER CROOKS WHO MADE THIS MESS AND NO ONE GOT THEIR HOUSE BACK. GIVVING MONEY TO THE CROOKS WHO MADE THIS MESS ONLY HELPS THE CROOKS NOT THE WORKING PEOPLE WHOS BACK THEY RIDE ON.

OF course the TARP didn't ease the credit crunch. No one in their rigth mind believed it would. It was just another form of corporate welfare for greedy executives to waste. The problem isn't in liquidity so much as trust. The banks don't trust one another. Why? Because they know what we're not being told: that they've been playing the same game with other forms of credit (comercial, consumer, etc.) as they were playing with mortgages. They are sitting on trillions of dollars of bad derivatives, but no one knows how much or who holds them.

i support a total overhaul of the bailout to add accountablity, prevent foreclosures and support job creation.
if you dont have a job, it doesn't matter at all if credit is available or taxes are cut. neither help those who need it most.

The money should be targeted to homeowners who are in trouble and not the financial institutions to horde. It was the financial institutions who created this mess in the first place. You want to create spending? Distribute 300 million dollars to the 300 million Americans in this country and watch how they will spend it. 70% of the economy is based on consumer spending. So give the money to the people and let them spend to bring back the economy. The problem here is there is too much money in the hands of too few people. Financial institutions have a stangle hold on credit lines thus playing games with the consumer. The trickle down theory does not work as we have seen in the last eight years with the Bush Administration.

Who could have ever imagined that you can not trust the people who got us here thru no oversight to use the TARP money with no oversight? I mean who would have guessed such a thing?

What would be really great would be if he could get back the $350 million that has been taken from us already by the current administration (including congress who let them get away with it), and put it to better use than paying for corporate acquisitions and ceo bonuses. We want our money back! Use the money to invest in alternative energy/infrastructure which is good for national security, jobs, AND climate.

WHY were banks & Wall Street SO quickly bailed-out? Because they have a good friend in Bush & Paulson (the former CEO of Goldman Sachs).

I am disturbed by ALL the CRITICS, they complain, complain but do not offer any solutions!

WHERE WERE ALL OF YOU COMPLAINER'S WHILE BUSH SPENT US INTO OBLIVION???????????????????????????????????????

THE BUSH LEGACY= $12 TRILLION IN NATIONAL DEBT

A 4.6% UNEMPLOYMENT RATE...... TWO WARS..... FAILED DIPLOMACY....... BUT .......... THE FAR-RIGHT IS COMPLAINING ABOUT .............A MAN WHO ISN'T EVEN IN OFFICE ........YET!

ran: Yes, your math is wrong. The actual figure would be 200 trillion!

I have a neat idea. How about something simple that will REALLY drive the economy and help people recover from being too far in debt. How about a full year of NO PERSONAL INCOME TAXES for everyone making less than $250k per year! Just 1 year off. No withholding. What could be more fair? Sure, people who make more money will benefit more, but they have greater debt as well. This is a much better way to "spend" that money and I think the numbers work out to be about the same.

It sure needs to be overhauled!!

What Paulson did was a complete FIASCO, with little or no checks and balances or accountability.

@MD January 9th, 2009 10:11 am ET
I just opened my "Office of the Presidential Candidate for 2012″. Can I use the presidential seal? Obama is Joke
Bush is A Joke ....and Rich

Why is there no accountability? Because the Wall Street and financial institution dorks are "buddies" of the current administration. It is the same story that will never change regardless of who is in "power".

I am so sick of this impatient attitude consumers and investors have regarding the economic crisis. The most important reason I am against the stimulus package is because I knew it wouldn't give the people the response they wanted fast enough...and there would be further panic. It is so important that people realize the time it took to get us here and the numberous poor decisions. Economic turn-around will be a painful and slow process, hopefully teaching us a valuable lesson in the process. It's very disappointing that greed and imediate satisfaction have defined our nation in this way. I would compare our economy to a shakey, cheeply produced fortress lacking the framing and foundation it's height requires. I only hope that the new administration closely watches over distribution of these funds like they say they will.

Remember- OBAMA and the DEMOCRATS wrote this bailout package and INSTRUCTED Paulson to use the funds as he sees fit. Bush may have asked for the bailout money but it was your boy Obama and his Democrat cronies that pushed it through. If you are interested in going after the real crooks in this Fannie and Freddie economic meltdown, you better start with your boys Dodd and Franks.

President Elect Obama is trying to turn our great country into a socialist society. If you think that is a stretch please look at what he is saying and has said, and compare that to the definition of socialism in the dictionary. I don't see a difference.

Hey Dale. Here's an idea for Americans who are so-called "victims" of predatory lenders. DON'T USE CREDIT CARDS AND DON'T SPEND MORE MONEY THAN YOU MAKE. You have the very attitude that has put this country where it is now. Spend more than I can afford and then blame someone else when I am in financial trouble.

I read on another website where Citibank is still going to pay the $20mil a year for the naming rights on the New York Mets stadium. Bank of America used some of there bailout to buy a bigger stake in a construction company in China. Capitalone gave there CEO a $76Million dollar bonus. So if you want to jump start the economy you need to help the people. Forgive the mortgages and people will pay for new cars, t.v.'s etc with the extra money. Myself personally would not bailout anyone. Let the chips fall where they fall.

This is becoming really unbelievable. People actually think the worlds problems have something to do with the US and Bush. How about "oil" as the culprit and the fact that 95% of everything we use in life except for steel and food is made from oil and that everything that is made is shipped by "oil" to include the steel and food. "Oil" prices go up,. and economies tank. Get a handle on the oil problem and you can get a handle on the worlds woes. So, who is driving the oil prices up and why? When the oil cartels cut production because the prices are too low, is that a clue? Anyone care to guess why so much effort has been applied to control the deteriorating situation in the mideast via Iraq, Afganistan and the other terrorrists states? The bulk of the world's oil comes from the oil cartel; think on it for a while.

@ I told you so...

This country has been in a slow downhill slide since Reagan. It was his economic team that declared the U.S. no longer had to be a production based economy but would be fine as a service based economy. In other words , I'll cut your lawn if you make me a hamburger. The die was cast back then. The gyrations of the stock market have been going on for quite some time now and have nothing to do with PE Obama.

OK, let me understand this. Carter and Clinton got us into this mess by forcing banks to make questionable loans. (Fannie Mae. Read about it if you don't agree). Their intent to free up the credit market.
Now Obama wants to adjust the bailout to "free up" the credit market.

Now that's the intelligence we were all counting on!

Not!!!!!

TO THOSE COMMENTING ON THE SIGN "OFFICE OF THE PRESIDENT ELECT"....

He "is" the President Elect.

He's not a Senator any longer.

He's the President Elect.

What do you think, he's working out of his basement?

Please... look for something ELSE to nit-pick.

Has anyone looked at what little details are available on the nes recovery plan? If so, I need help understand something. HOw is high speed interenet access in elementary school supposed to help me with groceries, mortgage and my heating bill. I have no problem with luxury when money is abundant, but please. I can't keep my family warm and fed, but hey at least they can surf the internet!

Accountability, accountability, accountability…..

Does anybody have a list of the countries that are giving us the credit to pay for all of this???
If we get too far into debt, we'll be the equivalent of indentured servents to our creditors. I'd like to know who might make claim to what I think is mine.

Good! Wall Street needs to be Overhauled! Wall Street is currently managed by thieves. The truth will come out, and people will see the true impact of "Greed Gone Wild". While I remain a capitalist, I can also see why several countries have nationalized their banks. Billions of dollars have been stolen by greedy Wall Street Executives. I look forward to the trials.

I told you so:
I don't know how you have invested your money but it is obviously not invested wisely. My 401K has increased 18% since Obama was elected.
There must be oversight with the bailout money.

Robin

In response to your comment the money will be paid back by the tax payers. Maybe not in mine or your future but our children and grandchildren.

First the banks foreclose on everybody and THEN CONGRESS REWARDS THEM WITH UNACCOUNTED FOR BILLIONS.

Only in America!

Marc
Money doesn't grow on trees, even here in Seattle and it comes from somewhere and taking it from A and putting it into B doesn't fix a thing.

Lower taxes, new company startups, rewarding success and hard work do.
-------------------------------–

yes... lets do MORE of what was done from 2001 – 2006.
BECAUSE THAT HAS WORKED SO WELL, RIGHT?
This economy is the DIRECT result of so-called trickle down economics. and i guarantee you... someone ALWAYS stickS a cup under the trickle.

WHO IS JOHN GALT? Someone please answer the question before it is too late...........

Is anyone frightened by the size of government Obama envisions? The bulk of his stimuls package is public works projects. Government is going to tax, spend, and regulate the hell out of everybody and every business.

After the Irag critisism that the Bush Administration has been under, you would think he would have handled the whole bail-out situation differently. He botched it up just like he did the Irag war. I am glad the US has not been attacked since 9/11, but I can't think of one thing that this president has done that was competent. I certainly hope there is an overhaul and that transparency and accountability will be on the top of the list. The Big 3 had to come up with a written plan as to how they planned to spend the money and how it would improve their companies in the years to come, why didn't Wall Street get that same oversight? The country is near bankrupted because of these wars and our president and congress AGAIN dived into the situation with no real plan. The worse part about all of this is the taxpayers are the one who continue to suffer while mistake after mistake is made in Washington. God Have Mercy on America!

To those who are shocked that the Wall Street bailout money has only helped the banks and not the people. Look at who is managing this at Treasury. Short timers who are looking to hook up with these same institutions for jobs. DUH...of course they are not going to enforce that the banks do what they were supposed to do.

Best way to fix it is to bring it to a screeching halt. Take the remaining funds that were allocated and take them off the debt from the balance sheet. Or give us ALL tax holidays!

The past 20+ years of government got us here not one person, not capitalism. Why ask for more regulation when the current laws aren't even enforced and crooks like Madoff are allowed to continue stealing money. I have little reason to think that government knows how to manage the situation and even less reason to think that they can get us of this mess unless they step aside and let people invest their money istead to reappropriating it through taxes.

Reduce my taxes. I don't want government to take money from my family to pay off other people's bad debts. Or, if the government is going to pay off citizen's bad debts, may I make debt that I know I can't pay and get money from the government to pay for it? Obama nor anyone can eliminate poverty - people living in poverty just need to get a job and take care of themselves insofar as possible and stop having illegitimate babies they can't support. The only people that support Obama's socialist views are those who think they will be on the receiving end of government monies, and college students who are afraid that they cannot buy $1 million dollar houses until they reach 50 years old.

See this is exactly what we need. Let's talk about the people..screw wall street. Way to go BARACK OBAMA!!!!!

Accountability??? Accountability......Accountability!!!!!!

OBAMA, there's nothing left for you and the murderous thieves surrounding you to steal from us.

great to have nothing to lose.

John G.++++No John I prefer that the Government does not rip us off at any period in our history, but the past eight years has been the biggest ripoff of my life time.

It needs to be overauled! They are being secretive about what they are doing with the money.

Good job Obama!!! For the first time in the last eight years I am truely proud of my country and our new president!!! He's picked a great team to impliment his programs. Thank You!!! AND this coming from a 40 year long republican who is sooo ashamed of what the republican party did to MY country!

Honestly, just recall ALL the money that has been given to the banks...especially if they are just hoarding it as some execs have said. Let the weak go under and make the others realize they need to modify how they do business in order to survive. Giving money to maintain the status quo is never a good answer. Then, once the financial institutions come back with new plans and new strategies congress should reconsider lending to them but with much more oversight.

We jumped the gun when we so quickly listened to Paulson's cries of urgency or failure...heck, how bad would it have been for normal person if AIG, CITI, and a few others had failed????

I hope they do modify the bailout. The banks are so arrogant that they are taking the money and still charging predatory fees.
They encourage people to spend by constantly increasint their credit limit and then when the customer goes over the limit they hit them with double and even triple interest rates. By the way the credit card company can reject a charge at any time, but they choose not to. That way they can hit the customer with excessive fees, all legal. I don't think the banks should get a penny of my tax money until their predatory credit card practices are regulated to a reasonable limit on interest rate. No normal working person can ever pay off debt when they are paying from 18-28% interest.

So, basically they're proposing to do it the way it should have been done in the first place. Simply amazing!

Greater oversight and management – the CURRENT administration has no idea what that means. the fact that the Treasury Department GAVE my money to the criminal bankers to pad their wallets and now will not even give an accounting of where OUR taxpayer money went is one of the most disgusting things.

In Cleveland PNC Bank used my taspayer bailout money to purchse NCB. Well, most likely NCB deserved to go under du to their poor business practices. However, just learned that the idiots at PNC are giving the top NCB executives very big bonuses when they exit. MY MONEY WASTED ON CRIMINALS. This is so wrong to waste taxpayer money this way. Giving the criminals who committed financial terrorism on the US during a time of war are being rewarded for their efforts?

Barak is trying to undue the mess bush is leaving us with. Thank you republicans and other rigth wing nuts for supporting this nonsense for 8 years.

@bob
well it went for parties and retirement packages for the CEOs where did you think it would go to open up credit? Shoot even Ford and GMC cannot get credit much less those of us who would buy their products! You see if the banks don't loan as much money and just sit on what theyhave they look like a stronger bank and so their stock prices go up and those who get bank stock as part of their pay get more money.. and then they can spend that money in places in Europe or invest it in off shore investments thereby making more money and allowing the economy to grow..? still cannot make that last part make sense but I WILL keep trying!

idiots

oh good idea – change the rules in the middle of the game – just like the credit card companies do to their customers.

i am all for it. accountability too – what did you do with our money.

and make it work!

I am amazed at the lack of oversight. Thank goodness Obama will pay attention to this and try to insure this money is spent wisely. The lack of leadership on this issue from the current Administration is beyond belief. Once again we see the support of corporate greed from this bailout. Isn't that what got us in this mess?

I agree with Carol there needs to be accountability for the Wall Street bailout. Poor management should never have been rewarded with a bailout in the first place.

WHY WERE THE BANKS ALLOWED TO USE OUR HARD EARNED TAXPAYERS MONEY TO STILL GIVE THEIR SELVE BIG BONUS's, we need and expect some answers.

Didn't he vote for the TARP? Hopefully he can fit and this time the congress, along with a new administration will either require accountability BEFORE any more dollars from the fund are allocated.

This is Jim again. Lets take an interesting company American Express which we all know of. This has been reported on by all of the media. They are in financial trouble 6 out of every ten card members are in collection, the other 2 of the ten card members are just now entering default, and the remaining 2 of the ten card members are paying their bills. So you have 8 out of every 10 card members are behind in their payments. Now American Express whom I have been solicitated for a card before many times but refuse to pay the $75.00 annual fee for the green card (I always make a credit card company work for me not me work for them that is the smart way) got a bailout from the federal government about one week ago for $7.9 BILLION dollars and the purpose was not to bail them out for bad debts by card members but TO START A BANK OF THEIR OWN AND CALL IT AMERICAN EXPRESS BANK. They had no intentions of using it for bailout money just to start their own bank. What a crooked company. Now lets get real here that money was intended for bail outs not to start a new business. So our wonderful elected officials and current white house village idiot got the $700 Billion dollars but with no oversite of where it is going. Their is an old saying in running a business "you never let the ticket seller take the tickets" (referring to if you own a theatre) but this applies to any company. You always have checks and balances. We as a family have never supported the bailout and will never it needs to be recalled and the american people need to be helped as we are the ones who make this country run Jim Hall Kansas City Missouri

(Hey CNN, are you going to post an intelligent comment for once?)

Here are further considerations, IMHO, per point listed:

- Do not require these people to pay them back, as paying for their mortgages will inevitably help us all. Unlike the Wall Street crunch, only part of the problem lies with those who could not afford their homes. While homeowners should not have been so risky as to take on ridiculous ARMs, it was also the mortgage companies' faults for basically duping them into thinking that they could do this and succeed. Fool me once…

- Require that these credit markets actually open credit to people, local governments, and small businesses, as opposed to allowing them to hoard it away for their own rainy days. That's not helping the economy at all. Have a stipulation put in place that the money is to be used SPECIFICALLY for opening up credit.

- As a matter of fact, along with the thread of placing limits on CEO compensation, how about we also place limits on their earning potentials. It's rather sick that a CEO can make millions doing their cushy job, while the president is paid less than $500k (which is plenty to live on). Making CEOs more accountable for their actions as well as taking away their golden parachutes and excessive pay will help the rest of us out significantly, as there will be more to go around to those of us who actually *work* for a living.

- And be sure that this Treasury bureau is headed by people we trust, and if we feel that it's going wrong, that we have the ability to appoint someone new to the position fast enough to make our heads spin. (The people need more power in government.)

Unless my math is wrong, we have 200million people over the age of 22 and if we gave each $1 million it would cost $200 million. Why do we need the billions? Give us the money and we will stimulate the economy overnight.

Seattle Sue:

Really??? Really???

You honestly thought bailing out institutions who were part of the problem would fix the problem? REALLY??

The entire bail out is a mistake and is just going to prolong economic recovery.

Money doesn't grow on trees, even here in Seattle and it comes from somewhere and taking it from A and putting it into B doesn't fix a thing.

Lower taxes, new company startups, rewarding success and hard work do.

I can't belive this money was giving away with NO way of tracking what the banks are doing with it. I also can't believe the companies who received this money are talking about giving BONUSES... What a joke!!!!! They should make them accountable just like the car industries and be required to give a monthy or quarterly report.

Kudos President Elect Obama. These Corps & CEOS received enough and their Party should be over.
RE: Campbell Brown's report on CNN & the Cafferty File. I think we have to realize that Barack Obama is not President yet. Too early for polls on confidence levels! And I'm sure he'll have lots of specifics after he's sworn in. And If Obama gave specifics the cry would be Bush is still President step back.

BO should change the bailout.

It was just another lie sold to us by W, 'the world will end unless we act'. I can't believe the mess tha Bush has left the world.

How about use the money for a bonus, go to jail?!

Makes sense to create a new bureau within Treasury, but the organization is only part of the problem. Treasury needs to clear out the dead wood, clean up the bureau, replace the irresponsible "not my job" men and women with sharp staff that will closely scrutinize and report to others who will maintain accountability. Congress has proven we can't look to them for "teeth". I hope Paulson is clearing out his desk because he has shown himself to be incompetent. Yea–I'm not happy with the clowns at Treasury.

If the government is going to use taxpayer money to help those that cannot pay their bills (foreclosures) how is that fair to those of us that have paid our bills?

They all seem like great ideals to me. I tell you this man is the real deal.

I just opened my "Office of the Presidential Candidate for 2012". Can I use the presidential seal?

Obama is a joke.

How funny.... his own party does not even support his idea. Why in the same heck does he think wall st. will? I mean stocks really started to plummit once wall st. saw he had won the election.

Between Obama having 1 trillion dollar stimulas packages and Pelosi wanting to spend money like she was at a sale at the mall we the American people are not going to have any money.

Somebody needs to get involved !!!! To me it just doesn't make any since that WE taxpayers are the UNDERWRITERS for this loan and bare the responsibility of feeding the tax coffers to allow distribution of cash. The way I understand it....ALL WE TAXPAYERS WILL GET OUT OF THIS IS ACCESS TO MORE CREDIT ??? AT HIGHER RATES ???? SHOULDN'T WE HAVE THE ABILITY WITH OUR TAX EXPENDITURES TO GET OUT OF DEBT ????? SEEMS TO ME THAT EXCESSIVE TAXPAYER DEBT HAS GOTTEN US INTO THIS MESS. The American citizen does not need to be put in a situation of OWING MORE for TAXES as well as sinking DEEPER into personal DEBT !!! I supported are PE...but....Why would we help Stock Companys., Banks, Insurance Cos., and Big Business address their indebtedness and force MORE DEBTon the individual to take care of these businesses ??? WE should each be getting several 100/k each so that WE can pay these big guys off. That will help their debt...clear up the TAXPAYERS DEBT which would allow this economy to grow without the individual TAXPAYER Slipping into a long term deeper hole. I want something back on my tax liabilities .
Remember the basis of this COUNTRY started with free property grants, cash and property to encourage settlement in the new territories....seems that we need this againin order START a new cycle ALL OVER AGAIN.

GO OBAMA

we do not even know where all the money has gone and some banks wont even tell us

My guess is the Republicans will not back any plan that doesn't give the rich greater tax breaks. These are the people their party represents and their welfare is the only concern of the GOP.

please do something to fix this.
for some reason, i was under the impression that this money was needed so the bank could help their own bottom line, so that credit could start being extended to ordinary people again, no one said that these banks were going to use the money and go out and buy other banks. someone has lied to us all !!!!!!!
why is there NO accountability as to how this money is being used???

The best way to keep people in their homes is to make sure they have a job. All the loans in the world won't work unless there is a job. Uncle Sam needs to work on JOBS.

where did the first half(350 billion) go???

An overhaul is desperately needed. We see that the Wall Street execs haven't cut back on their excesses. They almost act as if we OWED them our tax dollars.

I didn't vote for Obama, but golly, what a mess he has inherited. He really needs a whole lot longer honeymoon than any other president in recent history has gotten. Already, the media and others are starting their old tactics of putting everything he does under the microscope. Let it go CNN, Fox and all the rest of you. Let the man have a couple of years to see what he can do. If he can't get the job done or improve the situation, then be sharks. But for now, give the guy and his team a fair chance.

Seattle Sue:

You would rather the government rip us off?? It doesn't matter who the money is going too, this is wrong in principle...

why are the banks allowed to get away with stealing our bailout money? no accountability what so ever, why not put the money in the hands of the people who are losing their homes instead of these greedy selfish corporations.

This is a good idea. Even if it doesn't happen, I'm sure it'll jolt some of those receiving the funds to start using them properly.

If a penny of this money goes to directly helping a homeowner this man should be impeached.

All this does is reward people for doing what they should not have done and it cannot be allowed.

A janitor making $40k a year buys a $750k house and then taxpayers are suppoed to bail him out so he can keep this house when his interest only period ends? I think not.

Yet you have someone who decided to get an ARM and did so because it fit their financial situation and they were able to afford it and they did the right thing but because this person isn't being foreclosed on, they have to keep paying the higher rate while the other person gets to keep a house he cannot afford and gets a lower rate?

These people need to be told to sell their houses if they can, if not walk away from them and buy something they can afford.

How anyone can be FOR this scenario boggles my mind.

How is this going to be paid back?

Why release more money when the money that has already been released has not been used for its intended purpose? That's like spending money to drill for oil in a hole that has already proven to not have any oil in it. The bailout for the financial industry was just another Bush/Cheny transfer of wealth to those who had already been the receipient of untold wealth – just consider the unbelievable lavishness of the lifestyles of those on Wall Street who received the bailout money. They have money to burn while the rest of Americans can barely put food on the table. I still want somebody to tell us where did all the money go in the first place? It's somewhere. In somebody's account. A trillion dollars that once was in our economy didn't just vanish into thin air. Why won't somebody tell the American people where all the money went; causing the government to print trillions of new money just so that cash is available. Someone once said that "Bush is spending money like a pimp with less than a year to live." Will somebody please tell us where all the money has gone?

I still cannot quite decide how freeing up credit is the answer to our economic problems. Isn't it credit that got us into this mess? Not only has the U.S. government been living on credit but the U.S. consumer also. How in the world does freeing up credit solve the problem? Sort of like – well, I'm way overweight, therefore I need to eat more.

Can this huge bailout go to things that will actually help the econmy that would be nice seeing as we have to pay for it and all

Thanks for flushing 2 million jobs down the drain, Obama. No really, nice work. @*&#!!

Good for him. The american people need the help not the banks, brokerage firms, insurance companies, department stores, and the list goes on and on. Now on the news it is saying that Walmart is having financial problems. Well that does not come as a shock to me as being in the retail business you do not make money on groceries, hard goods, only on soft goods. But if people are buying only non money makeing items as mentioned above then your sales will be up yes only a fool would not understand that but your profit in the middle of the month or end of month will be washed away. You do not make a profit on something that their is no profit in which is hard goods. If you do not have people buying soft goods of which is where the profit is then your P and L statement is doomed. People are now due to the economy are having to make a choice food to eat or soft goods and they are buying food like I said before their is no profit in. I read on CNN yesterday where a large corporation and I forgot the name now is having financial problems but also in the story that the day before yesterday they were caught buying a $45 million dollar corporate jet. Now lets get real here. That $45 million dollar jet was not necessary if they are having financial problems that would pay plenty of employees salaries. NO MORE BAILOUT THE MONEY ALREADY GIVEN TO THESE GREEDY COMPANIES AND THEIR CEO'S AND UPPER MANAGEMENT SHOULD BE TAKEN BACK BY THE OBAMA ADMINISTRATION AND THE THUGS THROWN IN PRISON. Jim Hall Kansas City Missouri.

Some one should overhaul this bailout, it is sure not going the way most of us thought is was supposed to go. The banks and Wall Street are ripping the taxpayers off.

I WOULD HOPE THIS TIME THEY WOULD BE MORE ACCOUNTABILY

EMPLOY AMERICA!!!!

Any firm that requests US Tax payermoney needs to bring offshore jobs back home !!!!

Fed should demand this and develop a tax credit for corporations hiring Americans WINNER WINNER. American corporations stabilized, Americans employed.

President-Elect Obama needs to overhaul this bailout. There is no acountability and these banks aren't lending the money to anyone...that's why Congress gave them the money in the first place! No one knows what the banks are using the money for because they aren't telling anyone.

The Justice Department also needs to investigate what happened and go after some of these crooks. Our money financed their criminal lifestyles...and the bailout money probably still is.

Thank you mr. President-elect!

Obama is hopelessly grasping at straws. If he knew anything about economics he would let the bad companies go under so the banks would finally know who they can lend to.

I don't understand why Obama is being criticized for doing what he promissed to do to fix the economy.
When you fall into a hole and you can't get out and somebody through you a rope trying to help you get out, you don't ask for a ladder.
If they knew how to fix the economy why did the DO NOTHING congress and senate take action to prevent the crisis.
I'm amazed seing people OPEN THEY BIG MOUTH to criticize every action taken by the PE.
Everybody need to chill out and bring constructive ideas instead of critics.

More big government spending and messing with what was already a faulty plan. But we are now seeing what we got as Prez and it ain't lookin' too good–suckers!

Obama's economists finally appear to be considering something besides throwing those remaining $350 billion at a Wall Street that adamantly refuses to clean up its house. But ideas will not cut the mustard. Paulson had ideas, too. He had no program. Obama's team still has no visible program. Until such a programatic proposal appears, it is either mere speculation or pure folly to attempt some analysis of what they "propose."

On GMA this morning, I got the feeling that transparency as to how the funds are being used is nebulous. What else is new?

On to other matters, Obama has asked Congress to defer the DTV transmission since government coupons have been exhausted. Good idea! Also, I wish to piggy back on a previous poster’s comment on America’s archaic rail service and elaborate on my own previous comment. If Obama has his way, Amtrak could be rehabilitated, thus providing work for more people. Japan’s Bullet and Europe’s TGV and AVE make our “version” look like a choo choo train from outgoing Kaybee Toy Store.

Regarding this Blackberry crisis, can't they just design a special presidential Blackberry that can't be traced by to him???

WE SUPPORT YOU, MR. PRESIDENT ELECT!

Let's hope Congress doesn't hinder the process- they already look like a bunch of selfish children as it is.

Come together and get something done!

btw, Campbell Brown-you say that you want Obama to be more specific, but yet when a official is too specific when it comes to economics, he/she gets criticized before the plan is fully heard. NO ONE has ever been praised for an economic plan, no matter how good it is. NO ONE. Perhaps you are jumping the gun a little bit (a lot!) so that you have something to report on.

I was never convinced as to the damage as a result of Not bailing out these companies! Want to stimulate the economy? Take half the TARP money and cut a $10,000 – $30,000 check to every US tax payer earning under $200,000, less for those who make more so they won't complain of unfairness, and watch what happens to the economy! People will pay off debt and buy things with it. People will save and invest some of it. It's all good!

The GOVERNMENT IS THE PROBLEM,NOT THE SOLUTION !!!!
Had congress NOT gotten into the FINANCING of homes by FEDERALLY BACKING LOANS with OUR TAX MONEY to Freddy and Fanny ,OUR ECONOMY WOULD BE FINE.

We have CONGRESS to BLAME for our WORLD financial CRISIS,Wall Street just took advantage of the situation that congress created !!

Once everybody understands that,we can get back on the road to recovery-if the government stays involved it will just drag it out.

Great the guys who got us into this mess and now going to fix it. Why would a bunch of lawyers, Obama, Pelosi, frank have anything to do with the economy. They are the reason we are in this mess trying to make banks give loans to dead beats. None of them could get hired at my firm but they want to control everything! Great

By the way, I love his sign. It's almost as good as the presidential contender seal he had going.

Did he hire a director of his ego?

I think that the money should be put back into the system for all the American people. We always help other countries when there is a crisis, now we need to help ourselves.
The first then than must be done is to put God into the equalation and things will work out a whole lot better. Try praying and asking for guidance from God instead of trying to solve the matter without Him. Look how far things are out of wack now. The American people want change then start by praying and secondly do the right thing. People need to stop being all about themselves and be about all.

Finally someone told us, a little bit of information, but before Obama's speech yesterday, I feel like it's a little too late, even later when Obama takes office, you can't put the blame on him. You can't blame the American people, when the government doesn't care about you or your tax dollars. This is an American issue, we need to get a handle on right now, I'd hate to see riots around the country with all the problems that are starting to stack really high, because it won't be good for no one in the future

Obama,

Get a clue. Stop using focus groups and polls to figure out what to do. We want a leader to lead the country, not someone beholden to polls. What, maybe about 5%-10% of American's may be qualified to offer and educated opinion on any particular topic, but you are going to go out and ask everyone what they think before you make up your mind on what to do with the economy.

The country is being run by the equivalent of the paparazzi, and the MSM is complicent. Obama needs to grow some nads and make the tough decisions he has been hired to make.

If there is an increased oversight of how the taxpayers' money is being spent and some sort of accountability, it will be a vast improvement over the present plan of giving away huge amounts of money with no one answering about where it is being spent.

Santa Claus was very good to the investment banks, savings and loans, regular banks, and the stock brokerage companies.

I know it sounds too simple, but how about just cutting a check to all of us instead. I know I would spend mine as soon as it hit my hand.

As far as limiting the executive compesnsation is concerned, Obama should go farther by limiting ALL compensation at various grade levels. It is very common in these financial firms for an average Joe to make over 100K. People at the director level easily make more than 100% of their base salaries as bonuses. The knife has to go deep, not just superficial. Since the government owns a significant portion of thee companies anyway, all dissent can be suppressed with a waive of the excutive pen.
Hope this bmess is cleaned up before my kids enter the job market.

I don't approve of releasing more money to this current administration.

Surely we won't crumble in 11 days.

I like the idea of using the additional money to help the people in foreclosure and freeing up the credit markets for loans to people. Those things specifically will help.

most of it is already gone into the pockets of 400 families who already own most of the nation's wealth as it is.

look around yourself: you have surrounded yourself with them and their agents.

oh, you mean, they want to take what little crum left as well.

Give me some of that cash Obama, you punk.

They should get a check at the end of the month in change like I do after working all of my life. I have to monitor every cent and I don't get to do all of the fun stuff that any of those greedy execs get to do. I feel that since we the taxpayer can't write a bad check or we have to account for every cent we spend "TO PAY OUR BILLS" they should to. There will never be any bailout for me just because I don't have any money-they had plenty – where did it all go-the big wigs on Wall Street only think about their themselves and the millions they can bring in for themselves-I will invite any of them over to have a supper with me and we can chat about tough times-again my supper would be free. They need a DAM GOOD TALKING TO!

I think that is a sterling idea, we need to know where the money has gone....accountability from now on is very important and I feel PE Obama will make sure that will become a permanent fixture in the future.

To the democratic Congress:

Time is of the essence. Don't block or dampen the efforts of your new president. We voted for him to fix our economy-TRUST HIM- and let him do his job.

You looked bad when Bush was in office and you will look even worse now if you do not work with Obama (especially since you have the majority). You already look like a bunch of spoiled children who constantly oppose one another.

If he should fail or get little done, it will be because you barred his way.

We ARE going to be enraged -----

Only eleven more days to go. Unless a "tufur" intervenes. Blago and Bush, bookend impeachments?

It's the Culture of Greed Stupid ....

I don't know how anyone hopes to restore a sense of trust, order and fairness as long as that industry shells out BILLION$ in bonuses to people who create NOTHING.

The shell game is over. A bunch of 24 year olds ( of 50 year olds) driving Ferrari's and dating supermodels because the got a fat paycheck for shufflilng money around is not healthy to the economy or the psyche of a hard working, productive country

What good to STRIPS, ZEROs, Interest rate derivatives, etc. do for us. The answer is nothing. They are just new slot machines for the casino. It's like 3-card Monte only with the air of sophistication of Wall Street. Just like street hustlers were cleared away, so too should these guys be cleared away.

These people and their actions have NEGATIVE value long term for the economy and its high time someone said so.

Barack, have you got that kind of tough love in you?

Accountability, accountability, accountability.....

Let`s not kid ourselves, the 1st $350 billion is already out there, however, a lot could be done to ensure that money is properly used and the taxpayer receives benefit. There could be a rash of bank and financial audits by the Gov`t if they wanted to. They hate these audits.-- The problem is, we`re not going to be enraged at what we see if the truth ever comes out.

YEP ANOTHER LAYER OF GOV'T, I SEE NOW THAT OBAMA WILL EARN THE TITLE OF MR BLING. HE IS SPENDING MONEY FASTER THAN THE PRINTING PRESSES CAN MAKE IT. HE'S AGAINST LOBBIEST, OF COURSE THAT WAS JUST ELECTION TALK, SO ITS FORGIVEABLE, HE HIRES MORE CLINTON PEOPLE, BUT THATS OK HE IS THE BRILLANT ONE. ALL IS FORGIVEN JUST BECAUSE HE IS OBAMA. IF IT WERE ANYONE ELSE THE PRESS WOULD BE ON HIM LIKE CHICKEN ON A CORN COB. SO KEEP ON WITH THE BLING FACTOR BARRACK YOUR JUST ANOTHER POLITICAN PROMISE THIS AND THAT BUT JUST GET THE POWER YOUR NO DIFFERENT THAN BUSH, JUST THE OTHER SIDE OF THE SHIP OF STATE.

That is a great idea, Wait a minute I thought all the above was going to be done to start with!!!!!!! What a mess and there is no one with any good plan in place yet.

Get rid of the Federal Reserve. It's a proxy corporation (banks – Federal Reserve – US Government) that has been stealing money from the American people since 1913.

The Federal Reserve is a pozi scheme, period!

It boggles the mind how Congress handed over BILLIONS with no oversite, accountablity, and DEMANDED that the money would be used to help the housing markets and troubled mortgages.This has been nothing but certain financial institutions positioning them to take over weaker banks. This has been a SCAM from the very begining and all AMERICANS are well aware of it. Congress should have made these banks jump thru hoops like the banks do to people that want to buy a house. This country has become a JOKE.

Its about friggin time!

As someone who holds a Series 7, the way in which the Bush Admin. , and Sec. Paulson (aka former CEO of Goldman-sachs) have conducted this "bailout" has been apauling (ALL pun intended).

Someone has got to reintroduce accountability to Wall Street. Like a child thats been allowed to run amuck for years and years, this dose of discipline will not be popular and will involve multiple temper tantrums from Wall street, but it is necessary for the future health of our economy.

I want my Kidney back!

We want to see all deliberations on the media, we want to know which senator or congressman is going to shoot this plan down.

there should never been a bailout in the first place....Paulson and his buddies on wall street are raking it in, not to mention Bush..
no bailout for AIG and the rest of them...let the cards fall where they may

I'm so happy you guys GOT IT RIGHT!!! and elected an intelligent, sincere, leader in Barack Obama (wish we could do the same in Canada) With that in mind I have one beef with CNN – in order to show Mr. Obama the proper respect I feel he should be referred to as Mr. Obama or president elect Obama rather that Obama which several of your announcers do. It offends me and I'm not even an American! I do whatch you shows and love the coverage – keep up the good work.
Helen

I would hope so since the current adminstrators of it can't figure out what the banks are doing with the money they were given. I can't believe these people were that stupid just to give banks money with no strings attached (or so it seems).

I want to hear banks giving loans to people (who can afford it) to buy houses and cars as well as loaning to business to buy things and hire people.

They can do so much more with the money. Keep working Obama.