Not buyin it!Run for the hills!
Hey, who’s liquidity can we steal? Is it too late to raid the Iraqi dollar fields?
I’ve also read where the 700B isn’t going to do diddly squat. (Is that a racist term? :)
Not buyin it!Yeah I’m terrified that a bunch of liberal, millionaire Wall Street types won’t get their seven figure bonuses and corrupt left wing groups like ACORN won’t get tons of grants...
NOPE! I am not going to scared into getting fleeced!
Euros? Telling us how to run our economy? HAH! When we were establishing the greatest Representative Republic in history, they were defending the Divine Rights of Kings, burning witches at the stake, and starting Pogroms against Jews.
Bullsh1t. If 4-5% of all home mortgages (the ones that should never have been made but the liberal dems wanted to give blacks housing loans) fail and THIS causes the collapse, then let it collapse.
It’s this compounded with the banks packaging this crap into bundles and a couple of them getting too heavy into them and dying because of it. Let them die. Everyone else is making their home payments.
F@ck the bailout. Let the banks that made crappy decisions go down. Let the FDIC do its job and protect people’s accounts. Give the necessary monies to protect account holders’ accounts, don’t bailout the banks.
And then go after all these assholes who bailed on their mortgages. Don’t let them declare bankruptcy. Go after their assets. They got loans they knew they shouldn’t have, living beyond their means.
Soros paid well for that article. Kerry, too. And Buffet.
Highlights:
2. There is no panic on Main Street and in sound financial institutions. The problems are in high-risk financial institutions and on Wall Street.
3. While all financial intermediaries are being impacted by liquidity issues, this is primarily a bailout of poorly run financial institutions. It is extremely important that the bailout not damage well run companies.
4. Corrections are not all bad. The market correction process eliminates irrational competitors. There were a number of poorly managed institutions and poorly made financial decisions during the real estate boom. It is important that any rules post “rescue” punish the poorly run institutions and not punish the well run companies.
5. A significant and immediate tax credit for purchasing homes would be a far less expensive and more effective cure for the mortgage market and financial system than the proposed “rescue” plan.
6. This is a housing value crisis. It does not make economic sense to purchase credit card loans, automobile loans, etc. The government should directly purchase housing assets, not real estate bonds. This would include lots and houses under construction.
Instead of a bailout, take the 700 billion and give it back to the taxpayers.
Did you actually read the article?
"The US stock market could suffer a devastating crash with shares losing a third of their value this week if Hank Paulson's financial bailout plan fails, US Treasury officials have warned. "
"Officials close to Paulson are privately painting a far bleaker portrait of the fragility of the global economy than that advanced by President George W Bush in his televised address last week.
"One Republican said that the message from government officials is that "the economy is dropping into the john." He added: "We could see falls of 3,000 or 4,000 points on the Dow [the New York market that currently trades at around 11,000]. That could happen in just a couple of days."