Posted on 09/29/2008 7:59:57 AM PDT by johncocktoasten
Taxpayers will lose money in the $700 billion government rescue plan for the nation's banking system, Oppenheimer analyst Meredith Whitney said.
Contrary to predictions from some supporters of the bailout plan, Whitney said on CNBC that the continued slump in housing prices will make a profit from the bailout unlikely.
"I think you definitely lose money on this $700 billion structure," Whitney said. "There's no idea where house prices bottom, and as a result how can you make money on this transaction
(Excerpt) Read more at cnbc.com ...
It is a going to effect the outcome. Actually I have no confidence in McCain either or the Senate, or Congress or Bush to take a concerted action for the good of the nation. It is dark, indeed.
I like your idea. Of course it would take lots of people doing it and there is the danger of it becoming anarchy.
... this can't be good.
Wha- ???
Say it ain’t so!! Congress using tax money to bail out
more failed businesses and the taxpayers get a screw job!!??
In other news, the sun still rises in the east and scientists have determined that water is still wet!!
They are trying to buy a floor for the market and that’s not going to work since confidence comes from transparency and full understanding of risk and reward.
The government should be telling the market that good banks with good balance sheets will be supported. Tax breaks for business and consumers will be offered and spending will be held or reduced.
Yeah, good luck with that!! You may not have noticed, but Washington suffers from selective deafness (see Illegal Immigration reform).
>>>Of course the bailout is a money loser. If this was a good investment, then willing buyers would purchase the bad mortgages to obtain a profit. The only reason for a bailout is that it is a losing deal. The question is who should lose money on this deal: (1) the borrowers and lenders who made the bad decisions in the first place, or (2) those taxpayers who managed their money wisely. It looks to me like Congress has chosen.
Such cold truth this early in the morning!
If you’re watching the house debate it sure sounds like a pretty sizable block of reps both republican and democrat are listening to us and standing in opposition.
The black congressional caucus seems to be pretty firmly in favor of the bailout. As one member said “This is a hand out, not a hand up”.
Hey,why don't we help some of our troops in Iraq and Afghanastan obtain these homes?They're coming home sometime and they'll need jobs and homes to come home to.Troops get homes,house prices settle.It's a win/win and if I'm going to bail out anyone,giving US combat soldiers the assets for their sacrifice sounds damn good to me.
Sheila Jackson Lee calls it “A hand out, not a hand up” and she supports it as does every other member of the black congressional caucus.
The bailout should be killed dead.
Would you agree that nobody tries to push cars or pickup trucks that have trailer hitches sticking out of the rear bumper?
Three vehicles traveling side by side on the LBJ freeway (I-635) in the morning commute that slowly coasted to a stop would get a lot of attention, especially if there was 30 other like minded people coordinating similar actions on I-20, I-30 and I-45. Then tomorrow 30 other people do the same and the day after 30 more do it.
Imagine this happening in 50 cities across America. What this Bill is talking about is giving more money to Wall Street than we spent on the Iraq war last year!
The Democrats won’t call for a vote until they are sure they will win it.
All great ideas, but I fear we have to many dems and rinos to make it happen.
Impossibly diverting the attention from themselves.
God forgive this nation for our foolish neglect in falling away from You, the living God
.Forgive us our stupidity in placing trust in man. You are the one that created us, cares for us, gives us our needs day by day, not the government in Washington and the selfish politicians. It is Your hand that has blessed America.
I repent for being a part of allowing You to be disregarded in my community and accepting political correctness as the rule of the day. in Washington.
You are a God of loving kindness, and tender mercies. I cry... have mercy on us, You have our attention. Restore us to a time of Your values, Your instructions, Your walking with us. Turn our hearts to You, remove the rejection of You from America. I am/We are repentant, please hear our cry. Thank You that You hear us. We are without excuse,
Psalms 19:1-4
“1 The heavens declare the glory of God;
And the firmament shows His handiwork.
2 Day unto day utters speech,
And night unto night reveals knowledge.
3 There is no speech nor language
Where their voice is not heard.
4 Their line[a] has gone out through all the earth,
And their words to the end of the world.
In them He has set a tabernacle for the sun,”
Amen.
Having lived in the Dallas area for 20+ years before wising up and moving out, I sincerely doubt that anyone would notice - they'd just drive around them!
Sarcastic response aside, the point remains that Washington is selectively deaf and will pay no attention to this. If you want to get their attention, you have to take the protest TO Washington in a way that directly affects them!! And, even that doesn't guarantee results because they'll see it only as a minor inconvenience for the Wash., DC police to handle.
When my dad was still alive, he used to advocate gathering about 20,000 people and storming the halls of Congress. Each person would bring their own Louisville Slugger and would, in turn, throw a Congresscritter to the deck, stick their knee in their neck and give them a dollar's worth of nickel knots on the head with the Louisville Slugger to get their attention. After that, they would explain to the Congresscritter why they were unhappy with their performance in Washington.
The bottom line is this: If you vote for a single incumbent in November, you're part of the problem, NOT part of the solution. WE are basically to blame for the status of our government because WE have gotten fat and lazy and allowed our political class to do as they please!! WE now have to take action to fix our government and that means WE have to start voting out incumbents (EVERY SINGLE ONE!!) and replace them with people who understand how the Founding Fathers intended the government to work and will work to restore those values. Until WE do this, WE will continue to be the definition of insanity!!
I have promoted term limits and the refusal to vote for any RINO’s ever since I came to FR. The Party shills can’t stand it. They serve cheese and whine about how any RINO is always better than a Dim never admitting we are selling our principles with those votes.
Good for you!! I’m onboard with that and agree 100%.
But . . .
We can’t draw the line at just RINOS, we have to draw the line with anyone who sees politics as a career and the government as a free ride on the taxpayer’s back. We have to draw the line at ALL incumbents. THEY created the problems we are seeing and THEY can’t fix them.
Until we all agree that government is NOT the solution, things will only get worse!!
I totally agree with every single word. We need to get back to citizen politicians, not career politicians! I want people in there who know what it’s like to live and work in our towns and cities.
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