>> Let the chips fall! No bailout! Screw ‘em all! I’ll take my chances! You say that now.
Why, yes, I do say that now. Well, not exactly that — you’re putting words in my mouth I didn’t say. But you get my drift.
What happened? Why have you grown tired of reasoning and gone back to shrieking hyperbole?
Frustration at your constantly saying, let the chips fall. Hey, the Jews let Hitler come to power, we should have just let the chips fall. Lots of kids don’t want to go to school, let the chips fall, who cares if they can’t read or write.
Look if you are convinced that the bailout can’t possibly save the financials system from collapse, then I’ll be glad to hear your argument. What caused me to post this thread was this mindless parade of Freepers saying “no bailout” on ideological terms as if there aren’t very very severe consequences to misjudging the opportunity to prevent that financial collapse.
I really honestly have no clue if this bailout will work. I have been completely on board with the fraud, mismanagement, avarice, stupidity, and corruption of the entire housing bubble and collapse since last October, so maybe I’ve had more time than most to get outraged and I’m on to preventing a depression at this time rather than luxuriating in my righteous indignation.
I’m with you, I want to punish all of the idiots and fraudsters. I want the CEOs strung up. I want the politicians shot, both Democrat and Republican. I want the greedy homeowners to lose their homes. Hell with them. They should have read the contract, and I’m sorry their children didn’t choose smarter parents.
But right now, as much as I hate Paulson and Bernanke for their pedigree, they seem to know about as much about this crisis and financial dealings in general and I’m having a hard time seeing them completely and totally second guessed by a bunch of clueless masses here on FreeRepublic that just enjoy spouting off.
I don’t care who here is financially astute, and there are many here who are just that. But who here has had inside access to all of the information that the Executive and Legislative can bring to bear. I haven’t got a clue about the inside private workings of the financial system. I can’t say who has what derivative owed to who and how this mortgage impacts that derivative. I think Bernanke and Paulson have a lot more specific, intrinsic knowledge in that regard than anyone here on FreeRepublic has.
All we seem to have is a bunch of people going on principal. Well I don’t like the principal of torture but I’m certainly willing to bend that principal to break a key terrorist in order to obtain crucial information.
I hate the bailouts and the potential for wrong-doers to benefit, but for heaven’s sake, embracing a catastrophic collapse of the world financial markets strikes me as unwise, if we have experts that think there is a ghost of a chance of saving the financial system. The time for reform will be thereafter, and THAT is the time to go on the warpath and not forget this lesson in creeping socialism. But not now.
I would be all against the bailout if I could find a solid consensus of financial experts who overwhelmingly said the bailout will not work. Instead, we simply have a mob of taxpayers saying the bailout will not work. I may not trust the experts, but the mob is an ignorant ass. I am the only person in my entire circle of family and friends who has any clue about the cause, nature and risk in the financial system.
So I am frustrated by the knee-jerk collective opposition being voiced here. Very little of it is reasoned or rational. Very little of it cites sources. Just a massive condemnation of the method Paulson and Bernanke think has a chance of saving the financial system.
Shoot me if I don’t think we should clench our jaws and say “let them all fall”. Personally, I think the widespread suffering that would cause is vastly under-appreciated here. Vastly under-estimated.
I think this recession will make the 1970s look like a cakewalk. I think unemployment will soar and deflation will hit very hard if we don’t bite the bullet and support the bailout. Without that money, I think we deflate hard and debt and credit collapse with the wave of insolvencies not just among lenders, but many businesses like GM that are on the edge if they can’t continue to get vital funding to continue operations. Let alone a collapse of the bond market or if FCBs like China completely disinvest our Treasuries. You want fear? That scares the hell out of me.