Posted on 09/23/2008 11:09:15 PM PDT by dickmc
and what’s more, Raines and Gorelich need to be in orange jumpsuits ASAP
The markets weren't allowed to work in 1929 (or before or after). Since we aren't allowed to have a 19th century style panic, our future is serious inflation or a Japan style on and off recession for a decade or two. I don't like any of those choices either, but those are the only choices.
Yes. I think that's why Paulson's legislation said "mortgage-related" and not "mortgage backed" or something more specific. That said, if Treasury is clever enough they can leverage 700B to buy a couple trillion in face value while still protecting the financial system. But the taxpayer tab could still end up being a few trillion regardless.
Democrat Buffett is enriching himself at the expense of the taxpayer bailout.
We may be toast.
Words To Give You Pause On Todays Economy ( Can we both fix the economy and punish....)
Many on this thread say,...bring it on:
//////////////////////////////////////////////
X ACT LEEEE
after...
25billion FORD GMC ..wasnt enough, need more
30billion BEAR .....wasnt enough, need more
85billion AIG .....wasnt enough, need more
138billion LEHMAN...wasn’t enough, need more(they tried to hide that one)
200billion FANNIES...wasnt enough, need more
770billion WHO ELSE? and no one will ask the question,” Will this be the last dollar we have to spend”? ....
...........Because it won’t be.
Spend $700 billion, 5 percent of our gross domestic product?
After all this, I say Hell yeah, BRING IT ON.
RUN ON THE BANKS AND STOCKS and show the demonrats and their wallstreet allies who has the power!
Take your money from THE BANKS AND STOCKS
before
THE BANKS take your money from you.
Gentlemen, I have had men watching you for a long time and I am convinced that you have used the funds of the bank to speculate in the breadstuffs of the country. When you won, you divided the profits amongst you, and when you lost, you charged it to the bank. You tell me that if I take the deposits from the bank and annul its charter, I shall ruin ten thousand families. That may be true, gentlemen, but that is your sin! Should I let you go on, you will ruin fifty thousand families, and that would be my sin! You are a den of vipers and thieves.
I intend to rout you out and by the Eternal God I will rout you out. If the people only understood the rank injustice of our money and banking system, there would be a revolution before morning.” —Andrew Jackson,
Friends of Angelo get new invitations to a federal grand jury ( Lender to Sen Dodd....)
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