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“Government crafting plan”
Now that is scary.
NO RESCUE! LEAVE THEM TO DIE! END THE MADNESS.
WE MUST ALL CONTACT OUR CONGRESSCRITTERS AND LET THEM KNOW ONCE AND FOR ALL:
NO MORE BAILOUTS!
NO MORE BAILOUTS!
NO MORE BAILOUTS!
Good, now let’s force the Federal government to stop requiring banks to make bad loans. And let’s stop the borrowing sprees by deadbeats. Maybe then we’ll have a sound credit system. Oh, and while we’re at it, let’s keep the Democrats the Hell out of it.
LET THEM FAIL. It will hurt but we’ll be better off in the long run. The ones that didn’t screw up will become the new big names.
Torches and Pitchforks. Torches and Pitchforks.
God help us all.
If all that's between us and financial oblivion is some government scheme, I feel our goose is already cooked.
get ready for bipartisan ponzi scheme.
A plan? Nuh-uh.
They are crafting a reaction. Problems this complex can’t be solved in 48 hours by people who are used to months of planning time.
Woman: What makes saloonkeepers so snobbish?
Banker: Perhaps if you told him I ran the second largest banking house in Amsterdam.
Carl: Second largest? That wouldn’t impress Rick. The leading banker in Amsterdam is now the pastry chef in our kitchen.
Banker: We have something to look forward to.
Captain Renault: Realizing the importance of the case, my men are rounding up twice the usual number of suspects.
Captain Renault: Oh no, Emil, please. A bottle of your best champagne, and put it on my bill.
Emil: Very well, sir.
Victor Laszlo: Captain, please...
Captain Renault: Oh, please, monsieur. It is a little game we play. They put it on the bill, I tear up the bill. It is very convenient.
I’m shocked, shocked to see Casablanca qoutes on this subject!
has anyone noticed that Andrea Mitchell has been M.I.A. since they’ve started tagging her husband with some of the blame for the meltdown?
The money came from the Fed and Treasury when it created it out of the aether as fiat money, and lent it to banks. Banks lent it to others, until someone lent it to homeowners, many of whom now can't pay it back.
The fiat debts are now retracing the steps of the loans, back ultimately to the Treasury and Fed. When they reach the banks who have access to the discount window, and those banks are threatened, the Fed should do the following. First, liquidate the bank. Strip the good assets off, and find someone to buy. Second, forgive the fiat debts that can't be repaid to itself, and note that the money supply has now deflated. This simply sends the fiat debt back into the aether from whence it came. Finally, grant access to the discount window to a completely different bank which did not have access before, and is in good health.
The companies which need to go out of business will go, there is no moral hazard there. All these affected default swaps will be canceled, because the defaults and debt were forgiven. They will not be triggered.
The ultimate effect to the economy at large will be that the money supply will deflate back to what it was in 2003 or so. We survived 2003 just fine. There will be a lot of hardship for the banks, and a lot of them will fail. They HAVE to fail like dominoes to get back to the discount window, but that's ok.
Taxpayer money will not be used.
I have a plan. Kick all the Democrats that demanded lenders make bad loans out of the Congress. That’s one sure way you will correct the problem.
As long as McCain doesn’t trip over these present plans, the roll-out of his own prospective economic agenda, coupled with the new, well-pointed campaign communications, plus Sarah Palin’s mastery in the Hannity interview will bring McCain back up in the polls in the next couple days — at least a tick or two.
This is madness. Trillions of dollars put on to backs of the children. Only I think the USA is about to actually go bankrupt. We could very easily find ourselves in a position where the bond market will support no more. And we could default. S&P warned about the credit rating of the US just a couple of days ago. Now we give the fraudster- ponzi scheme bankers more bailouts on the back of the US taxpayer. Oh life is sweet if you are a banker making 30+ million a year. Its not going to be so sweet for the middle class. Privatize the gains and socialize the losses. Same for the S&L crisis. Same for the .Com bubble. They will do it over and over again. Only this time I think we are actually at the tipping point where we won’t be able to pay.
The only reason I’m sorry to see President Bush go is that it’s too late to impeach and remove him from office.
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Hard working law abiding tax paying American citizens are going to get stuck footing the bill and paying for the economic fiasco THEY created while they, the leaders of Fannie, Freddie, the banks, the investment houses get off scott free and get to keep their multi MILLION DOLLAR parachutes.
This whole thing makes me sick. If Obama gets elected the whole house of cards is going to collapse because what he and his democrat liberal friends did to the housing market they want to do to healthcare and to the rest of America.
This is all about greed. These CEO’s of Morgan, Fannie, Freddie, Lehman and the like need to be investigated for wrong doing.
These mega financial corps didn't just go belly up over night...this took some time.
Congress is down right obligated to force an accounting of this mess. I've read articles of former execs walking away with millions in severance and bonus packages while the companies have gone head long into crisis.
How does this happen?
Hint hint.......the Federal Reserve. You know, that secretive banking cartel that drives American monetary policy.
What a scam. Give expensive loans to those who can't afford it, make risky investments that turn sour, then when the company goes belly up.......have the taxpayers bail it out.
The PRIVATE BANKERS that make up the Federal Reserve win either way.
This is criminal behavior. This looks allot like an Enron if you ask me. Cookin the books, inflating assets and so forth.
Then when the Ca-ca hits the fan.......high level execs just simply, blend into the smoke and walk away. With millions.
Question? Does anyone have an idea of how many loans and the worth of those loans were to ILLEGAL ALIENS?
No ones asking the question.
Near my area I stopped at a red light, looked over to my right to see a sign planted in the ground that read, “Sugartree homes, no documentas, no problemos.”
NO DOCUMENTS, NO PROBLEM??? Houston is a sanctuary city, I know damn good and well millions of dollars in home loans were being given to illegals.
When the housing market began to stall....lots of these illicit workers had no work. Foreclosure time and no way to track’em.
Lotsa questions and no ones a askin.