Developers Ask U.S. for Bailout as Massive Debt Looms

Wall Street Journal ^ | December 22, 2008 | WSJ

[do the dhue]

That is the way I see it. This is where it all starts.

Now, we (the taxpayer) was responsible for backing the loans. I can see why we would have to bail the bad loans out. But how are we responsible for GM, Devolpers, and the like? Bailing all the rest out is not a free market.

[Mr Ramsbotham]

I want to be BAILED OUT, TOO!!

That's like the pig saying he wants to go to the barbeque.

[do the dhue]

[do the dhue]

Hey dennisw,

Don't take my shot across your bow seriously. I know she aint mine and I am just havin’ fun, you know?

[dennisw]

You mean like a sandwich? We share like Dodd-Kennedy?

[do the dhue]

Hey, I don’t share. I am greedy when it comes to love!

[Don Stadt]

If we do not have our Christian roots to fall back on, we become Darwinian Survivalist. Greed sets in and the greed will destroy our way of life.

It's funny; I remember Wall Street coming out. Gordon Gecko chanted mantras like "Lunch is for wimps" and "Greed is good", and city traders all round the world copied him (and many of them got rich).

The point of that film was that Gecko was a heartless, avaricious crook, who thrived in the climate of asset stripping and foreclosure which was endemic in corporate America at the time, and it cloaked his actions with a veneer of respectability.

"Social Darwinism" is clearly involved when a handful of speculators in Wall Street have the power to force thousands of good hard-working Americans out of jobs purely because a client's stock can go up a point or two (temporarily) - and they do it because it suits their own back pockets.

I don't think we can maintain a cohesive, united, Christian nation if we're all being educated to believe that screwing each other over for a percentage is the "right" thing to do.

[Man50D]

What on earth were those idiots in DC thinking when they went for this bailout?

They're thinking about the continued conversion from a democratic republic to socialism by tightening their socialist grip on the economy.

[do the dhue]

I hear you Brother. I see it the same way.

Our businesses need, 5, 10, 25, and 50 year plans, but Wall Street doesn’t allow it. A lot of investor want their buck made fast. That is what will drive our business over the cliff.

[do the dhue]

HEAR HEAR!

[P.O.E.]

More like a “Bail-In”.

They’re just pouring more water into a sinking ship.

[do the dhue]

You would think someone would fix the hole in the boat. I guess the commie socialist pigs don’t have a plan for that.

[realdifferent1]

I say again; WORST.PRESIDENT.EVER.

Yes, I lived through Carter and BC..

"“I’ve abandoned free-market principles to save the free market system” -President George W. Bush

[DieHard the Hunter]

> ““I’ve abandoned free-market principles to save the free market system” -President George W. Bush

Maybe he’s right — time will tell.

As with every good thing in life, when taken to an absolute position “Laissez Faire Laissez Passer” can lead to some absurd outcomes. Like this one.

[DB]

I think he’s dead wrong.

In a few years the dollar is going to be worthless.

You can’t print endless dollars and not destroy it.

[DieHard the Hunter]

> You can’t print endless dollars and not destroy it.

On that we agree. I could never agree to the rationale of floating currencies, taking them away from the gold standard. Maybe that’s an old-fashioned notion, but it did tend to have a dampening effect of turning on the money printing machine.

[Jimmy Valentine]

Banks have money to lend; they have tightened down credit standards.Instead of 80% LTV's they are looking at 75% or lower. Instead of cash flow coverage of 1.10/1 they now want 1.25/1.

The appraisal community is running for cover also. They are using higher capitalization rates than in the last couple ofyears. Instead of a 6% cap they are using 8.75% and higher.

All of this causes a big down push on commercial real estate values.

If a commercial property lender over financed, he will have a tough time refinancing his maturing debt.

[RU88]

At this point this has gotten completely out of hand. Every time the government steps in to bail out another business interest it fouls the waters further by distorting markets. The bailouts have to stop and companies are going to have to sink or swim on their own merits, or lack thereof. I somewhat understand the desire to prop these companies up as a way of preserving jobs for people but it really doesn't solve the underlying problems and no government can will private business into profitability.

[dinodino]

Oh dear God. When will this bailout madness end? Is there anyone left we have yet to bail out?