YEE-HAA?
Posted on 09/18/2008 12:38:31 PM PDT by politicket
NEW YORK (AP) -- Wall Street surged higher Thursday, with the Dow Jones industrials up more than 400 points after a report that the federal government is considering creation of a repository for banks' bad debt. CNBC said Treasury Secretary Henry Paulson is considering creation of an entity like the Resolution Trust Corp. that was formed after the failure of savings and loan banks in the 1980s.
(Excerpt) Read more at biz.yahoo.com ...
That's all you can do in this mess my FRiend.
No, lets keep doing what were doing, and soon the working class will be sleeping in trailers.
Like it or not we are a global society.
Yeah, this has just worked out beautifully.
Those that made in billions overseas on low wage peasant labor applaud your support.
The price we pay for being fortunate enought to being born an American (or an immigrant) is that we need to step up to the plate and educate ourselves
LOL...Like we shouldn't depend on government for bailouts, and pull ourselves up by our bootstraps, right?
What hogwash!
U.S. citizens have lost menial jobs and gained more challenging jobs
More challenging jobs? Oh, you mean those that now work harder for less, while being offered cheap, meaningless incentives instead of deserved raises?
What are you going to retrain engineers for, that were replaced by those that work less from India?
You think the people that are being jackhammered by this leadership still buys this crap?
No sale.
Thanks-
Best FRegards,
Peter is way above the other talking heads on Fox News. I remmeber 2 years ago how he was slammed by those shills like Jonthan Hoening but what he said then has come to pass.
He failed because Dodd and Rangle, called the repubs racists and defeated the bill. The speeches were damage control caused by the political fights, and don't reflect the Bush Admin's willingness or participation in what happened.
The fact is, that the Dem's were using the mortgage money politically, and through community organizers, they caused this. The cheap mortgages were then misused by others, who lied on their apps, and bought homes to flip them. This was done by the millions of units, and since so much money for fees were being earned by mortgage companies and banks, nobody wanted to screw the pooch on prosperity even though many saw that it was unsustainable, and secondly they would be called racists............
Well.......I don't mind at all putting the blame where it belongs, and I have.
LOL!
Good one!
That's what happened, and the republican opposition fell apart like a cheap suit. It was not politically worth it anymore.
I don't know how you fight something like that. I really don't know.....and I don't think anyone does.
That's why it happened.
YEE-HAA?
You know, there was a book I read once, that is decried as total tinfoil bull scat, that describes what is going on right now in detail.
“The Creature from Jekyll Island”... Seems we have just nationalized our housing and finance industry.
So are we international or national socialists? I suspect I know.
What this tells me is that things are much, much worse then are being let on.
We're national Socialists in our policy - that are owned by international Socialists via our debt.
Hmm. Great point. Put much better than I would.
So the real question is, how long till I flee to the countryside and raise turnips to live on? In other words, is this the start of the whole house of cards going down.
Let me ax you a question.
How do you suppose this wonderful new resolution trust type company will pay for all of the toxic debt that it will be "buying" from Wall Street?
Who will determine the prices that this "company" will pay for it?
This is NOTHING but a bailout. A massive bailout that will cost The Taxpayers.
The Gov't can either directly bail out each institution piecemeal, as it has for Bear Stearns, IndyMac, Fannie/Freddie, AIG... etc
OR!
It can print up a bunch of money and "fund" this neat new "resolution corporation" to buy up the sh!t within each companies portfolio.
Either way, by any name you want to call it, it's still a bailout. And we are all getting screwed.
What's that saying? "Freedom ends with a thunderous applause"
http://www.investopedia.com/features/crashes/crashes5.asp
From the article:
Since the stock market was believed to be a no-risk, no-brain world where everything went up, many people poured all their savings into it without learning about the system or the underlying companies. With the flood of uneducated investors, the market was ripe for some manipulation and swindling. Investment bankers, brokers, traders, and sometimes owners banded together to manipulate stock prices and get out with gains. They did this by subtly acquiring large chunks of stock between them and trading them between each other for slightly more each time. When the public noticed the progression of price on the ticker tape, everyone would buy the stock. So, the market manipulators would then sell off their overpriced shares for a healthy profit. On and on the cycle went as uneducated investors turned a profit by selling the manipulated, over-priced shares to someone who wanted to have a rising stock.
Behavioral finance shows that the less an investor knows, the easier it is for him or her to be swept up in popular opinion (herd mentality). This behavior is a double-edged sword because the ignorant investors are also easily spooked into panic. Both actions, joining and fleeing, have very little basis in the quality of the news or the quality of the market. Instead, the herd follows the cow that runs the fastest, trampling the market.
During the craze before the Great Depression a number of academics, including Roger Babson, were predicting a crash if things didn't “calm the hell down.” Sadly, for every Roger Babson, there were four bull-blinded academics guaranteeing the eternal rapid growth of the American stock market. Although Babson had been predicting the crash for years, the capricious and ignorant investors finally listened. The twelve-year worldwide depression came and ended only with the declaration of war. This stands as the worst financial blow to the USA ever. The crash itself, though large in its own right, was nothing compared to the ensuing graveyard market and devastating depression.
You just hit the nail on the head.
Does the synopsis that I posted about the Great Depression ring a bell for our current issues?
I think that it's more like a gong.
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