Posted on 09/30/2008 6:09:41 AM PDT by rodeo-mamma
Edited on 09/30/2008 6:36:56 AM PDT by Admin Moderator. [history]
I understand your concern. But what would the market and credit rating have looked like without all the fear mongering? I imagine it would have been a third as much of a jolt. I believe that two thirds of yesterday’s loss is due to panic.
I heard McCain’s speech and took away that he was saying that he got in the fight...wasn’t afraid to roll up his sleeves like the wuss Obama sitting on the sidelines criticizing. I thought his points were dead on accurate.
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
WOW YOU SHOULD LAY OFF THE COFFEE. It is only 10:00 imagine what you will be like at 5pm....stay off the roads please!
The bottom line is that I don't know what to do. What bothers me is that McCain doesn't seem to know what to do either.
God, I hope so.
My fear is that McCain is putting himself “out there” on this bill and the reporting of Obama’s statements (or non-statements) are not receiving much scrutiny.
Obama thinks that saying “let’s throw out the Republicans and have change” will be a winning message. No substance, just style. I worry that he might be right.
__________
OK, enough whining and crying. I have tremendous respect for McCain. I am going to trust that he really wants to win and is smart enough to figure out what he’s up against. He still have time to pull this out.
What if I’m wrong? Well, giving in to my worst anxieties won’t help, will it? Let’s get ‘er done!
That’s what I am saying. You have elected President Obama. You are a useful idiot is what you are. You have created the circumstances for a total socialist takeover of the organs of government, and yet you still think that I am the socialist. You really couldn’t be a more perfect idiot. And of course you have no understanding of the Republican Treasury’s bill in the first place. Yer just agin it!
Jim Robinson, you can ban me if you choose, but you know I have been here a long time and am a loyal Republican. But I cannot stand by while we shoot ourselves in the head. I am expressing my opinions, perhaps with some non-obscene name calling, but trying to show people the consequences of not understanding either the thing they oppose, or the consequences of their opposition to it. This election is over now, you guys got Obama elected, and I hope you see that is what you have done. If you don’t then think it through again, because that is what happened.
“At last, someone recognizes the truth of the matter.”
;-)
It would take a great deal of courage and daring to now align himself with the 77% who are against the bailout.
It may be his last opportunity to reverse the trends (if indeed the polls are somewhat accurate and not merely part of the fix that is in for this election.)
As an insightful FReeper posted last night on another thread concerning his failure to do this: “Oh dear, he isn’t listening.”
(I think it may have been machochick)
I think you’re wrong, Main Street does not want to bail out Wall Street, it’s that simple. I know the CNBC spin that this is Main Street, but all of us average Joes don’t see it that way. Plus, who’s going to take the word of a former CEO of Goldman, not me, I think Paulson’s agenda was clear, to save the Street and his pals first. Bad investment decisions were made and pushed in this town by people who made billions on our backs. But now when the fat lady starts to sing the brats on Wall Street claim that if this bill doesn’t pass then all hell will break lose. BS. There is plenty of time to pass a reasonable bill that will insure much less government involvement in the free market. I think it’s ironic that liberals refused to allow private Social Security accounts (only 2% of each individual’s account) to become reality citing government shouldn’t get involved in the free market, whereas now Pelosi and Bush want the government to be directly involved with Paulson all but promising profits for the taxpayers. Horse hockey! I live in NYC, I see these Wall Street pr*cks every day, flaunting their chauffer driven black SUV’s, their Park Avenue/5th Avenue pads and Hampton’s homes while all us schlups go to work on the subway every day, yes us, the average Joe taxpayer. Enough is enough, the hell with bailing out Blackstone Group et. al., no how no way. If this bill had passed the majority of voters would have trashed McCain and the Repubs beyond reason for saddling us with more that $700 billion in additional debt, for a total of $11.3 trillion in national debt, what a disgrace. McCain should encourage the House to write a bill more in line with what Eric Cantor of VA is pushing, more market oriented and less government ownership. My one cent.
How dare you inject sense and reason to the panic!
Troll.
Can I borrow that quote? It should be posted on every thread dealing with this issue.
Had the Bill passed, where would McCain be in the polls? Down by seven instead of eight?
LOL!
You are making a segmentation error. You think that when all the banks go out of business that business will be great for the rest of us or something.
The problem is that we have reached the point of chain-reaction selling. Prices of the assets in these bad investment decision are not going to stabilize at fair value. They are going to overshoot spectacularly to the downside. This financing plan could have prevented that, by creating a mechanism to allow the assets to stabilize AT fair value. THAT is why the bill was not going to create net debt. It was buying assets that had some worth.
Now instead we will have ongoing bank failures, and FDIC bailouts, but with a deep recession to boot. If you think the bill didn’t SOLVE anything, wait and see what the LACK of the bill solves.
Here’s the skinny — Obama is using legal toadies to block hard hitting 527s that say it like it is. The big fight right now regarding the election is centered around Governor Blunt of Missouri. He’s calling BO out on that. Some FReepers are beginning to figure out bypasses around youtube censorship. We’re all flatfooted this year, taking our freedom of speech for granted. I, like others, had assumed that 527s would have crushed BO by now.
Great quote from the founder of the populist Democratic party and movement. Nice touch at this time when populist Democrats are poised to take over the country.
Outstanding quote! You are a scholar and gentleman, sir.
Your one cent is worth more than 700 Billion dollars of Government bailouts.
.
We bailed out Lehman brothers and the markets tanked.
We bailed out AIG and the Markets tanked.
We bailed out Fannie and Freddy and the Markets tanked.
Now we want to bail out Wall Street.
.
The definition of insanity is doing something over and over and expecting a different result.
Have you ever noticed when the gubmint wants to screw us over, they create a crisis and it has to be solved by the gubmint yesterday.
Always a red flag.
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