I told you so

Vanity | 29 September 2008 | JasonC

[DRey]

"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."

Lower gas prices, credit only for the creditworthy, lower stock market (buyer's market), stronger dollar, higher interest on savings accounts and other safer investment vehicles, mortgages only for those who qualify...yep. It's a disaster waiting to happen, ain't it?

[JennysCool]

Or would that be Trollionaire...

Ha! Well, we've certainly been rich in those!

[JasonC]

The other fellow said the finance sector had not changed its actions. He was ignorantly wrong or lying. You are able to see the point, but dislike it, and so you want to spin in away. You are a sophist.

On the substance, the second figure basically means the real estate markets had seized - even before the coming destruction of the banks.

Burke speaks somewhere of the ignorance of the French revolutionaries, not knowing how to govern, they sell their tools. All you are doing here.

[Notary Sojac]

We've had fifteen years of "economic growth" which basically consisted of borrowing money from foreigners, then using that money to buy assets (first dot-com stocks, then houses) back and forth from each other at ever-ratcheting prices.

$700 billion x 20 is not going to keep that so-called model afloat.

[cripplecreek]

You don't get to ride Capitalism on the way up then scream for socialism on the way down. We are NOT here to insure YOUR risks.

Unfortunately I've had a couple of posters try to explain my "shared risk" lately.

[PhilDragoo]

I wish I’d invested in Self-Serving Free Republic Vanities two weeks ago. I’d be a trillionaire.

It is so up.

[ml/nj]

US markets dropped $1.2 trillion today

Does this mean that you are one of those who would rather not do away with mark-to-market?

ML/NJ

[advertising guy]

I really think a special clause no one wanted got booted and it pissed Pelosi off

[Notary Sojac]

the real estate markets had seized because prices have not yet adjusted downward to their income and rent driven fundamentals.

[o2bfree]

Wait, did Reagan bail out wall street when the market crashed by 25% in 1987 ?

It wasn’t even a consideration was it?

The democrats had shite eating grins all week. That’s how we know this was a manufactured crisis. Rush told the story today of the infamous photograph in the New York TImes that had to be removed from their website, because it showed the Democrat leadership having a little too much fun during the crisis.

[JasonC]

Utter nonsense. The value of assets owned by US households rises every decade like clockwork, because US households work and produce, and between them own everything here. $57 trillion worth of it, a year ago, net of all debt. The US economy is the greatest engine for wealth creation ever known, and deliberately wrecking it because that fact disturbs you or because you don't understand how, is just blind stupidity.

[LS]

Um, key word is “dropped.” No “drop” in a market is final until you sell. I didn’t sell. Did you?

[rabidralph]

LOL! We need to start a Dread Pool.

[Free State Four]

When these people who are beating the snot out of you go to their bank Thursday and try to cash a check (assuming they DID get a paycheck) they will rethink their class envy.

I don't like the bailout. I hope they do something different, but still restore some order to the credit markets. Soon. We are teetering on a disaster here.

Banks lend and borrow money between and among themselves each and every day. It is how the market it maintained. All the banks are too afraid of who is going to collapse next, they aren't doing business with anyone. Money is going to dry up. Fast.

[Hot Tabasco]

I told you so.

Gee, I didn't get the message guru. What do I invest in tomorrow all knowing one?

And what will your message be in two weeks after today's loss is recovered?

Provide me with Sunday's football scores then you might have some credibility with me but until then, well......you get the message.

[JasonC]

Yes he did. Alan Greenspan instantly flooded the market with great gobs of high powered money. I was there.

[Crim]

“Not to worry, if it comes to that me and mine will beat the living tar out of you and yours. On a battlefield if necessary.”

Careful.

[abigailsmybaby]

Here's a few things Rep Darryl Issa had to say....

Issa says he was one who helped lead the revolt against the bill. They had the head of the FDIC come in and explain how this could be taken care of without this bailout. Apparently the powers that be don’t want to hear that.

Issa said that by the time the bill got to them it was loaded with not just bad mortgage paper, but bad car loans, bad credit card loans....every bad loan they could come up with and that we'd end up bailing out Chinese banks, European banks, etc.

[ReleaseTheHounds]

The thing that I think the GOP nay-sayers (and their constituents) did wrong today was to ignore the potential of what might be in store for us given the politics of this situation — if the GOP gets blamed for this and everything implodes, then get ready for 4 years of BO and at least 2 years of Dem majorities to enact the biggest nationalization of our economy in history.

I think Bush and Paulson did an abysmal job in marketing this proposal, in developing this proposal without thinking abou the taxpayer ramfications and without thinking about the potential for free market alternatives and corrective measures in regulations (mark to market), and they got pretty much what they deserved. What I’m disappointed with on the GOP House side was: they got the opportunity to insert some very good provisions and make significant improvements. But the fellow Reps. didn’t see the need to go along with the big bargain.

Now we have to see: do we have another expanded New Deal to look forward to starting January 20, 2009?

[DainBramage]

Screw you..sorry you lost money but enough is enough..

Throw the bums out! Including people like you who think more of money than our country!

They took advantage of us and made tons of money...but now they lose.

We can weather it and the message will be sent. Find the people behind it!...put them in jail!.....reinvest with confidence it wont happen again.