Chris of Brunswick, ME Until federal and state regulators liquidate more insolvent banks and insurance companies, there will probably remain a lot of anxiety about investing in longer-term loans. For example Washington Mutual was insolvent, however the Bush administration planned to bail them with some of the $700 billion bailout funds. Fortunately Republicans in the House balked at getting worthless stock in return for bailing out Washington Mutual, which was yesterday liquidated.

That is with an insolvent bank or insurance company their stock is worthless, and thus they can offer nothing of value to the federal government in return for a bailout. However our corrupt Congressional delegation is still babbling on about adding "protections for taxpayers,” which apparently include receiving worthless stock. Thus the proposed bailout as currently envisioned seems a blatant scam.

This financial crisis won’t end until all the weaker banks and insurance companies are either liquidated or taken over by their stronger competitors. However what our Congressional delegation is proposing is to substantially lengthen the financial crisis by bailing out the weak banks and insurance companies. They are doing the same in the real estate crisis by bailing out homeowners in foreclosure. Thus if the bailout scam becomes law, prepare yourself for a lengthy recession!report abuse

moose of augusta, ME I am glad that the state got turned down. Just stop spending like the rest of us do.report abuse

nan1 of Vassalboro, ME I agree with Govt2 Big this will mean the State and all of us have to stay within what we earn imagine that. It really could be a very good thing for most to look at what they truly can afford and make a change in lifestyle accordingly. Its called back to basics. If the State or we as individuals dont have the money to do something Dont do it.report abuse

Bobof42 of Fall River, MA These bonds are both Federal and State tax free for Maine residents. Issue them in $1,000 amounts.
Skip the bond insurance companies. Accept them at face value for Maine taxes and Maine State Colleges and Universities.
The Credit Unions should not be hurt by what is going on Wall Street. Interest on Credit Unions saving account should be Maine tax free for the first $1,000 per year.report abuse