Posted on 10/13/2008 1:19:02 PM PDT by Pantera
PARIS (Fortune) -- First you mess up the world's financial system. Then you blow the rescue of it. Now let's show you how to do it properly.
That, in a nutshell, is the less-than-flattering message European governments are sending to the U.S. as they mount their own gigantic bank bailout. The plans, announced Monday after two weeks of dithering, involve Britain, Germany, France and some others recapitalizing national banks that require help, and providing state guarantees and other measures to kick-start the stalled credit market. The details are strikingly different from the U.S. approach adopted by U.S. Treasury Secretary Hank Paulson and the Federal Reserve Board. And there's a big reason for that: The Europeans think Paulson got it badly wrong, and have watched aghast as he failed to restore confidence in the world's financial system.
More at link...
(Excerpt) Read more at money.cnn.com ...
You have to admit, Nancy Pelosi and her gang did mess things up.
I may never forgive myself but have to admit the euroscum are correct.
Are they going to show us how to get 9% unemployment before a financial crisis?
McCain should state that this is a direct failure of Pelosi and the Banking Committee Chairs.
Let’s hope we unintentional taxpayer investors see a huge return on our money. We can celebrate by spending more on social programs like the ones in Euroland.
Maybe the are right. But heck, it seems like they just sat back and waited to see what the outcome of our bailout would be so they would no what to do. They weren’t offering up any better answers.
The Euros were waiting for us to throw money at them as a reward for them bad mouthing us all the time. Notice that the markets didn’t respond positively until they got off their butts and did something after America led the way.
I don’t think they will get any arguments from those of us at FR.
That said, they can bite me.
Hey euroweenies... Dow up 944.70 on the day... an ALLTIME record point gain. Hey europe... yo mamma wears combat boots! America is your daddy!
LLS
the = they; no = know
Dang toddler interfering with the proofreading.
Hey euroweenies... Dow up 944.70 on the day... an ALLTIME record point gain. Hey europe... yo mamma wears combat boots! America is your daddy!
LLS
Interesting Euroweanies. I as an American was surprised to know that Continental Europe had very limited FDIC like bank/checking account backup. The most, to my understanding was $20,000 Euros. This means that the Eurobanks were more heavily extended than American banks.
I think the markets have the U.S. written off as to be so heavily in debt that they would never be able to come up with the money for their bailout. That’s why the American bailout didn’t cut it.
OTH the Euros saying they guarantee the interbank loans injects real trust in the markets. This bailout works and drags the U.S. out of it as well.
Can't you see, its not hate, its disgust. Europe drags the world down.
I have to agree.
Most of Western Europe and the US have been allies for a long time, and while we have policy disagreements, and we’ve certainly drifted apart since the foundation of the EU, I get tired of seeing “Euroscum, Eurotrash,” etc (with the possible exception of the French, but that’s a personal failing on my part).
Fact is, we DID get the economic kick-start wrong, and while it’s not exactly a warm-and-fuzzy feeling to be second-guessed by Europe, it doesn’t make the opinion incorrect.
I, for one, would prefer more isolationist policies and a rebirth of our manufacturing infrastructure as well as domestically producing the bulk of the resources we use.
Sticks and stones and all that...I honestly don’t care what people in Europe say about us or our policies as long as they don’t actively interfere with us domestically.
There ARE conservative Eurpoeans...Many of them visit this site. Please try to remember that conservatism, morality, and fiscal responsibility aren’t uniquely American, and that there truly are allies out there (if we don’t drive them off or convince them that we really are boorish and ignorant).
I don't get it....didn't the republicans with the president vote for this thing too?
Did I not see news that McCain voted “aye” on this bailout?
Come on, give credit where credit is due.
Wait, europe is blaming the US for its troubles?
I am glad we have news organizations to report these unexpected gems of truth.
There's a name for people who mix nationalism and banking. "Paupers."
Shouldn't they? It was Fannie Mae and Freddie Mac that spewed this noxious stew all around the planet, wasn't it? Maybe if Europe spoke up a little more about that, rather than complaining about the bailout, they would help with putting the blame for this entire thing where it belongs -- on the Democrats.
BTTT
Please list by country prior to this financial the guarantee level. Thank you.
i could not agree more. it´s true that “europe” and the US have drifted apart since the foundation of the EU (this is btw. one of the “secret *lol*” goals of the EU). but i´m sick of anti americanism on this side of the world too. What is the US ? is it the forreign policy? (wich is not in EU interest?)btw. why should US policy fit european interests? the same way could be said the other way around. or is it the people?
like you i don´t care what people in the US say about EU policy (as long as they don’t actively interfere with us domestically.) but as you have said: There ARE conservative Eurpoeans out there... countries don´t have friends they have common interessts or not (and it looks like “europe” and the US have lost many “ but not all” of them). only people have friends. and for me in personal i have no problems meeting americans. i liked most americans i have
met in personal.and this is what cracks me up reading comments on message boards like euro scum...., american idiots... (while we disagree on many facts in world politics we should think twice “do we hate each other only because our media tells us?) what is europe on the other side? a single politician who may think he will gain some votes because he hits the anti american crowd? we share some basic lifestyle. of corse we disagree some times but why to hell is all this hate?. we can learn from each other. is every solution bad because it comes from america? NO. is every solution bad only because it comes from europe? NO.
greets
Switzerland’s Green Power Revolution: Ethicists Ponder Plants’ Rights
The Wall Street Journal | October 10, 2008 | Gautam Naik
Posted on 10/10/2008 1:17:28 PM PDT by SuperSonic
http://www.freerepublic.com/focus/f-chat/2102568/posts
“For years, Swiss scientists have blithely created genetically modified rice, corn and apples. But did they ever stop to consider just how humiliating such experiments may be to plants?”
Palin on the economy in first print interview
Pittsburgh Tribune Review | Salena Zito
Posted on 10/12/2008 6:55:59 PM PDT by Salena Zito
http://www.freerepublic.com/focus/f-news/2104167/posts
One thing... without us...
LLS
Please list by country prior to this financial the guarantee level. Thank you.
No, after posting on nearly 16,000 threads on Free Republic... I was just giving back what I have read about my Country, my Religion and my President in the European press. I remember chirac and schroder and company viciously attacking my country for years. de villipan and others come to mind. I have many European Friends but I know that most of Europe hates us....
No one forced the Europeans to buy these securities.
Its absurd. They hate us when we are prosperous and they hate us when we are in the tank.
European statists are worthless.
Ping
i have to add one important fact. there is a difference in the response you will get. if you post stuff like “we saved your ass in WWII” so shut up or be grateful because of that. or you will post stuff like america is responsible for “european” safety you will get comments like pi$$ off
on european message boards. that´s true. this is because no one here thinks this way any longer.but on this message board european tend to be more diplomatic. but this doesn´t mean that europeans hate every single american. we only think you are wrong having this kind of view. (because we don´t feel this way). but you should not get the impression that every one from europe thinks that we hate americans all the way. every country has its percentage off
idiots. there is no difference between Europe and america in this way. and illiterate persons tend to flock local message boards so don´t be suprised if answers are extreme annoying
“The 43-year-old wanted to withdraw 500,000 Icelandic krona — a sum worth about €4,000 just 2 months ago — from her private savings account and another $60,000 from her dollar account. “I want to take my money home,” she says. “I don't believe a single word the government is telling us anymore. We just get false information.”
Hey Europe,
Why don’t you just give us back the 670 BLN we inject into your markets in the past week.
Yeah, I didn’t think so.
You will even get a millionairs salery at the end of next year !
I just envy you guys.
Are you talking about abs ?
Noone had to - they were tripple A rated and by all rights and laws of the US called americas finest investments.
It was not a hold up - you are right.
it was fraud.
Yeah, there should be no risks involved in investments.
They are AAA rated, therefore they cannot go down in value.
Oh wait, that would be socialism.
Maybe that is why the Europeans were confused. They don’t know what risk is.
LLS
Well we have learned that if you bus some financial products from the US that are by all means of the legal system of the US marked as very safe - you could as well have a nice time in Vegas with your doe.
So at the moment it’s the US beeing very busy to learn of the EU how to estimate and handle risk.
And you are right to be - in reality the US should be very concerned about the ongoing crack up of the repulican idea - don’t get me wrong I don’t write of Mc yet - but it doesn’t look good - even staunch supporters fall of and the bilance of the late presidency is a catastrophy.
The Country is broke and the ongoing wars are probably not to bring to the desired end.
A lot of trust in the US has been lost.
Never mind - now it’s the dems time - hope for good that the GOP will regroup and get it’s act together, it will need to change though.
I am convinced that somehow the US will get it’s gear together you guys are really fit to reinvent life and start something new.
I do not want you near my foxhole.
LLS
I bet you don’t want anything of what is comming your direction. But I am not one of these things.
In this particular case, the US and Britain consequently blocked legislation that would have led to more transparency, like Basel II. While there’s probably enough useless bitching between Europe and the US, in this case it might be wise not to jerk the knee too fast.
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