Posted on 09/29/2008 4:16:58 PM PDT by JasonC
I told you so.
Happy?
Think you saved anybody lots of money?
Think you reduced the role of government?
On saving money, US markets dropped $1.2 trillion today, and worldwide it was more like $3.5 trillion.
On the role of government, the Fed announced $630 billion in new central bank credits today, half of it to central banks abroad. And oh, the FDIC guaranteed to Citigroup all losses beyond the first 13% on Wachovia's mortgage book, which is around $300 billion.
And it won't be remotely enough, and will probably need to be doubled tomorrow.
When are you going to learn that you are in the same boat with those you are throwing brickbats at, that you are their creditors and end owners, and that destroying as many as you like will not avert one dime of the hit, but just multiply it tenfold and drop it right back in your own lap?
How many times does this have to blow up in your face in succession, before you admit the possibility that others might actually know something about it, and you might actually be wrong?
And you think that those companies would have no strings to the government after a bailout?
And you think that those companies would have no strings to the government after a bailout?
Okay...that was funny.
The poster isn’t having a fit he is simply trying to figure out will happen without the bailout. My initial reaction was a ‘ no ‘ to the bailout but then what happens without it? I’ve heard so many different opinions I’m lost at this point.
Well, me too. Though under President Obama it isn't going to matter much what we think, or say, or do.
I thought the AIG bailout was a bad idea, too. But this vanity wasn’t about that.
Crap. Now we'll never catch up.
So adding 700 billion more approved by the same crooks that screwed over the mortgage industry is good in what way? Or should i just read up on Pelosi’s magnificent defense of more socialism?
Net mortgage issuance in calendar 2005 was $1.1 trillion. Net mortgage issuance in the 2nd quarter of this year, annual rate, was $80 billion.
Comparing a psychotically frenzied housing boom to the hangover which it quite rightly produced.
Might as well compare total dotcom IPO's in January 1999 to January 2001.
It goes all the way back to the Chrysler Bailout, it set the precedent.
Or would that be Trollionaire...
So I drown with my integrity intact. I’d drown anyway, right? If I was adrift without a boat in the middle of the Atlantic? If the “boat” you are suggesting in your metaphor is this tax-payer rape called a “bailout”, it’s made of nothing but straw and will sink eventually.
I won’t believe there’s a depression until I hear about people jumping out of windows along Wall St. and the survivors selling apples on the streets of NYC.
Experiences such as those caused people in my parents’ generation to value their jobs and their money. We have become very soft and very lethargic about watching what politicians have been doing to the US dollar the past 50 years.
After the drop today I checked my accounts. I 'lost' about 6.5% on my investments. Except I am still ahead about 80% from the actual purchase prices and reinvested dividends. That is over a period of 10 years. So you are absolutely correct the values are inflated. Am I happy the values dropped? no. Am I happy that I still have enough left in the investments to allow me to go on crusies? yes. Will I be unhappy if they drop down to a ROI of about 4 or 5%. yes. But I still have enough to stay retired on. So I agree with you. I dont' really care if the market loses more of the phony asset runup.
You forgot to capitalize random words in your post. In case you were not aware, capitalization is the key to making your arguments both compelling and cogent.
Your assumption is that the 700 billion bailout would have ended the problems, and more money would not have to be thrown at the problem.
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