Posted on 09/24/2008 10:34:43 AM PDT by HAL9000
Breaking News - Republican officials say the Bush administration will accept executive-pay curbs as part of the bailout. President Bush plans to address the nation Wednesday at 9:01 p.m. EDT on the financial crisis.
I was sitting here listening when he had the oversight and went from there. Earlier today the WH press secretary wasn’t sure that Bush would call such a meeting requested by McCain but then he did.
The McCain plan was on here and will see if I can find it here or Lucianne as I read it in both places with five items.
“Im not watching it either. The last thing I want to hear is Bush telling me Ive got to come up with even more money to pay for another government fiasco, without telling us EXACTLY who caused the problems.”
Wish I hadn’t. Now I realize why this live thread was so lonely at first.
He looked exactly like a deer caught in the headlights....
While your deposit number is correct, you fail to recognize they have over $300 billion of loans receivable. While their loan portfolio may not be worth 100% of face value, they are certainly worth more than 60% (180/300) as only 3.5% of the loans were non-performing as of the end of the 2nd quarter.
Are they in trouble? yes
Will they have to pay out $180 billion in cash in the short term? no
Will they be acquired? probably
Will someone make a lot of money off the deal? definitely
Do you wish it was you?
These people brought all this on themselves and it's almost as if they want to lose money. Why my money should go to enabling this behavior is a mystery. This is not what the founding fathers envisioned.
If we put up $700bn on this bail-out, even if Paulson and such are correct in their claim that it will cost less than $700bn, all that will do is guarantee that in a few years' time we'll either have to kick in a couple trillion or else have an even worse meltdown than what we face today.
As an inflated balloon starts to spring leaks, one may keep adding air to keep it inflated, but the amount of air required will continue to increase until at some point the balloon is guaranteed to fail. Bush wants to continue to inflate the economy. Maybe it will survive this time. I would much rather see the inevitable deflation occur in a controlled fashion than continue to inflate things until they burst.
Well said!! Exactly.
And “space aliens” just cracked me up. I needed to laugh, THANK YOU!!!
Yeah, right. That will happen.
Maybe it's time to replace every incumbent in Congress possible with someone who is neither a Democrat nor a Republican.
..This is the last straw, folks. Bush is covering for all the government idiots (probably including himself) that were instrumental in bringing about this situation.
Can I ask - the money we have to fork over to buy bad investments until they ‘return to market value’ - why can’t the pricing be attractive enough to let the market invest in these?
Literally, W told us we taxpayers were going to buy, keep and hold these instruments until they grew back to health.
Yeah..that's the ticket..!!
There were no WMD's...
And 9-11 was an "inside" job....
:)Well it was our 2nd home.I am pulling money out of the bank.Somebody is getting rich and we are going to lose money.I can smell it.
I’m so sick of these scare tactics...I am a commercial lender at a big bank, and believe me, we are not going to stop lending money to creditworthy businesses. the only businesses who will not get loans now are one’s that should not.
Should have read “Freddie and Fannie”.
Thanks! A lot of people on here don’t seem to have a clue about what is happening in the financial markets and what the consequences would be. I am not willing to take that risk — too many people are saying this is necessary as credit is already been cut off and some of them I totally respect.
Easy to come on a board and demand everything be black and white but that is not life and that definitely is not the financial markets. Time to do ‘what happened? and who is responsible’ after the bailout and the markets are back on an even keel. This isn’t just the US but markets around the world we are talking about. We cannot allow these large banks to fail. We do need to investigate who caused it and I got the feeling from the President’s speech that very thing will happen especially when he said this has been building for over ten years — hear that Dems?
“That’s just pure hate. You offer nothing but hate speech. Stop hating the president. He is a god among men!”
Huh? Since when is levelling criticism at socialism considered hate speech? On a conservative website no less.
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