700 billion bailouts!!!

[bigboss]

700 billion!!!!!

The experts say we need to bail out the big finance companies because they have financial blockage and this is necessary to get every thing flowing again

It sounds like a 700 billion dollar enema

And you know what happens when you have an enema... you relieve the blockage and end up with a lot of __ (fill in the blank)

I don't think this is going to work

John :o

 

[DebX420]

700 BILLION?!

SCREW THAT!

Im not even a tax payer, but my parents are. I won't encourage anyone! It's the governments fault for getting themselves in this situation - they should take the trillions of dollars we have wasted in this god damned war and give it to the big people - why should we suffer? We shouldn't!

 

[maxeaus]

The US is, dare i say it, so close to complete financial meltdown, that it is no longer a worry, it is a complete catastrophe. Having said that, the "smart" money was jumping into the stock market on Friday, as one day gains on a bounce were a sure thing, if you could ever claim a sure thing was possible.

The reason for this bounce was the banning of "short selling". Anybody short was then forced to buy back their position, regardless of circumstances. The new short selling ban will have two possible effects IMO, the market will stabilise and/or go up, or we will see a total financial doomsday scenario that nobody has seen in this lifetime. People will sell their stock and horde cash, nobody will buy stock, everyone will be waiting to rebuy, if at all, at cents to the dollar.

The fact no shorts will be in the market will in effect prevent prices increasing, as there will no longer be people buying to close their short positions. As this has never happenned before, nobody knows for certain what is going to happen, ie: uncertainty has never been so high. These are very interesting times, that is for sure.

It is interesting though that many countries remain in a fairly good economic state. China is still growing nicely, and keeping Asia growing with it. Australia in particular has, and is benefitting from China's growth by selling resources at record prices. The last crisis we had was an Asian meltdown, not this time.

If you saw how many of these large banks like Lehmans and Bear Stearns ran things, and the ridiculous paypackets many employees took home in boom times, and the crazy packaged derivatives these firms invested in and on sold, then it realy is no surprise these cronies went under.

I find it amazing that CEO's of these firms (now defunct) blame short sellers for their plight and bankruptcies. Many of these same people shorted companies everyday, it's just they don't like it when somebody returns the favor. These people remind me of bullies who steal your lunch money, yet when releaved of their illegal gains by being caught, they cry blue murder.

Although i feel sorry for many employees of firms that have gone under, it is hard to feel sorry for some of the individuals who chose to treat Wall Street as their own personal "Pyramid Scheme". To think the government should actually save these cronies with a buy out is farcical in my opinion.

It is sure going to be interesting to see what now develops over the coming weeks and months.

 

[labrocca]

The last crisis we had was an Asian meltdown, not this time.

And I don't recall that crisis turning the world into chaos either. The word crisis indicates a dire emergency.

imho...our government shouldn't be in the business of business and a bailout is ridiculous. This is a society built on capitalism. Our founding fathers would have vomited at the idea of a bailout. They would have probably started a new civil war over it.

It is sure going to be interesting to see what now develops over the coming weeks and months.

We will get a new president, people will do taxes, then things will return to normal. What is normal? It's business as usual where the american people just go out and spend money until their wallets are empty. Consumer confidence and spending are a major part of what drives our economy. All this discussion of a crisis is more harmful than good. Look at the WAMU situation. People are in a panic and withdrawing all their cash creating MORE of a problem. This is why short-selling in a situation like this is detrimental. It's abused by those wanting a mass sell off just to line their own pockets.

Some people are in the business of making money. Some people do it by draining other people of money.

 

[homebuyer]

Like I Said

And I don't recall that crisis turning the world into chaos either. The word crisis indicates a dire emergency.

imho...our government shouldn't be in the business of business and a bailout is ridiculous. This is a society built on capitalism. Our founding fathers would have vomited at the idea of a bailout. They would have probably started a new civil war over it.



We will get a new president, people will do taxes, then things will return to normal. What is normal? It's business as usual where the american people just go out and spend money until their wallets are empty. Consumer confidence and spending are a major part of what drives our economy. All this discussion of a crisis is more harmful than good. Look at the WAMU situation. People are in a panic and withdrawing all their cash creating MORE of a problem. This is why short-selling in a situation like this is detrimental. It's abused by those wanting a mass sell off just to line their own pockets.

Some people are in the business of making money. Some people do it by draining other people of money.

It's like I said in another post - give each of the 136 million US taxpayers $5,000 instead of giving $700 billion to the corrupt/irresponsible corporations in a bailout. There would still be $20 billion left over; enough to pay off each student's student loan debt. And how is it the government can come up with $700 billion dollars of our money so quickly anyway? The government should just give the $700 billion back to the taxpayers and let capitalism and its free enterprise system handle it.

 

[GILSAN]

Seems like there are a lot of incompetant CEO's out there, earning fortunes just to satisfy shareholders, while dragging their companies down the drain. Not coming to the aid of these financial institutions would probably have been catastrophic. In fact I think the measures taken by the government till now were very sensible under the circumstances.

Don't blame the government for all the ills. One of the main culprits IMHO are the greedy and incompetant CEO's and their companies policies of making it too damn easy for anyone to get credit.

Seems like capitalism has a tendency of going overboard and needs to be reigned in by the government. This time however, is going to be a very big bill to pay. How is the US gonna get 700 billion with such a massive foreign debt already?

 

[Chef Patrick]

Just thinking of this really pisses me off. If the business can lend the money then let them go under. They put themselves in the position with loosely monitored and easily approved loans.

 

[CrazyTech]

Most of you know me as a conservative, I abhor the idea of a bailout for sure...

Problem is, this bailout scenario is almost a must at this point. I believe fully in Adam Smith's invisible hand whatnot, but this is a systemic problem. It's what McCain's advisor meant when he said a nation of whiners - which was a stupid way to put it, because it took away from the point.

The point is the average American has way too much debt. We chastise the US government for the very same thing we, as a whole, do. The best thing you can do right now is pay down your debt. I realize that's certainly not possible for everyone, but do what you can. We are all systemically spending money we don't have, it starts with credit cards and goes all the way up to stimulus packages.

You take guys even like Donald Trump and they're making deals with money they don't have. It might work somewhat well for the smart guys, but the average American isn't so well talented. We all have a bad habit of running cards up in the goodtimes. The best thing we can do is pay that down and buy American when you are able.

It's either the greedy CEO's or the greedy government, no matter how you slice it. The trick is to walk that fine line in the middle. The solution is to cut a vastly inflated government and work on paying down debts.

 

[GILSAN]

Well said Crazytech! It's just too easy to get loans and too easy to fall into debt because of too many temptations to spend, spend spend.

 

[Mike]

Let's start the presses, fill up on green, black and some purplish toner and push some overtime at the US Mint.
The infusion of cash into a free market, which should regulate itself, is violating every principle of free economics. It's the proverbial "get out of jail free" card, that's practically rewarding numerous companies for conducting business in ridiculous ways.
In layman's terms: "If you print more of it, you devalue it" - Everyone, say "Hi" to Mr. & Mrs. Inflation.
I wonder how the Chinese government as one of the largest lenders to the USA feels about the soon to be seen inflation.
It's not been too many decades ago, where inflation sky rocketed interest rates to 10% and gas prices have surpassed current European values.
We're headed there again...with breakneck speed.

"Interest Only Loan" sound familiar to anyone? Reverse Mortgage? Adjustable rate financing? <<< all are beautiful shell games to reel the gullible American buyer into a dead end road.
"Keeping up with the Jones'" is the key term here. My neighbor has a larger; car, house, yard, pool, vacation home, .... keep going, you're getting my drift.

The common American thinks outside the wallet - getting loans is (was) cheap, unfortunately, come pay back time, the situation changes and becomes a bit overwhelming to the wallet.

Then you add a billion dollar war, natural disasters (Hurricanes, etc), labor rates, outsourcing manufacturing to the mix (see Nike) and purchasing goods primarily overseas (see Walmart, etc) and it should really not come to anyone's surprise that we're headed towards a very steep fall.

If cash is being infused, introduce it to the market in smarter ways than bailing the ones out that have already failed. Unless they are being regulated smarter this time 'round, they will fail again.

M.

 

[GILSAN]

Way back in the 70's the US imposed a 55mph speed limit which dramatically reduced the death rate in US roads and highways.

The next US government has no choice but to impose drastic measures to cut national and foreign exchange debt. Most of these measures will be unpopular but its the only way. They should put a fairly heavy tax on gas. That will force auto manufacturers to come out with much more fuel efficient cars, which should force oil prices to come down because of reduced consumption.

Check this article out about The 65-mpg car that Ford won't sell in US

http://articles.moneycentral.msn.com/Investing/Extra/the-65-mpg-car-ford-won't-sell-in-us.aspx

The majority of cars sold in Europe today are Diesel which are about 30% more fuel efficient than gasoline. Can you imagine what the price of a barrel of oil would be if the US cars were as advanced as Europe in fuel efficiency. There's nothing complicated about it. Politicians just dont have the cojones to implement a few unpopular measures that would have great benefits for the whole world in just a few years.

And that's just one example of what I like to see happen.

 

[RogueWriter]

bigboss- The next time that creditor calls me demanding money, I'm gonna tell him "I'm negotiating with congress for a bailout." Think he'll go for that???! :D

 

[bigboss]

bigboss- The next time that creditor calls me demanding money, I'm gonna tell him "I'm negotiating with congress for a bailout." Think he'll go for that???! :D

Sure... why not

I will take a few of those personal bailouts myself :hehe:

John

 

[useless]

i dont even watch the news anymore........

 

[ezimedia]

HI

They are all saying it is going to get a lot worse before it gets any better.. and I think for domainers will be a good buying time... as people here and in other forums of load domains...

Tom

 

[holyroller]

Short Term Gain - Long Term Pain.

Both UK and US are printing money so fast and yet they tell us they are trying to get inflation under control?!?!?

 

[dpari]

Wolves in Sheepskin (US GOVERNMENT)

Better keep your head on a swivel, the wolves are out and they are HUNGRY!

 

[dgridley]

From InfoWars:


1) The key line in the proposed bill is this one:

“The Secretary’s authority to purchase mortgage-related assets under this Act shall be limited to 700,000,000,000 dollars outstanding at any one time”

What this does is give Hank Paulson, acting as an emperor with unchecked control over the nation’s treasury, a $700 billion line of credit in which he can buy up toxic debt for whatever price he’d like to pay, $700 billion at a time.

In other words - he could buy trillions. Trillions and trillions and trillions. Buying and selling, buying and selling.

He can sell the junk he buys from his banker friends for whatever price he wants, saddling the taxpayers with the loss. He keeps this process going, using his $700 billion credit card. Buy for 60 cents on the dollar, sell for 30 cents on the dollar. Buy for 80 cents on the dollar, sell for 5 cents on the dollar. He’s in charge.

$700 billion folks IS JUST THE LINE OF CREDIT. He can purchase trillions and trillions of bad debt with this credit card, as long as only $700 billion is OUTSTANDING at any one time.

more: http://www.infowars.com/?p=4748

 

[dpari]

Wow

I have a feeling high profile positions will not be a desirable position to have in the not too distant future.

who do you trust more - the outsider or the insider. >>>NEITHER

IMO, THE ENEMY IS WITHIN! It's just a matter of time before there is red in the streets.

From InfoWars:


1) The key line in the proposed bill is this one:

“The Secretary’s authority to purchase mortgage-related assets under this Act shall be limited to 700,000,000,000 dollars outstanding at any one time”

What this does is give Hank Paulson, acting as an emperor with unchecked control over the nation’s treasury, a $700 billion line of credit in which he can buy up toxic debt for whatever price he’d like to pay, $700 billion at a time.

In other words - he could buy trillions. Trillions and trillions and trillions. Buying and selling, buying and selling.

He can sell the junk he buys from his banker friends for whatever price he wants, saddling the taxpayers with the loss. He keeps this process going, using his $700 billion credit card. Buy for 60 cents on the dollar, sell for 30 cents on the dollar. Buy for 80 cents on the dollar, sell for 5 cents on the dollar. He’s in charge.

$700 billion folks IS JUST THE LINE OF CREDIT. He can purchase trillions and trillions of bad debt with this credit card, as long as only $700 billion is OUTSTANDING at any one time.

more: http://www.infowars.com/?p=4748

 

[RogueWriter]

Maybe he can buy all those billions of dallors worth of bonds we've sold to China and Saudi Arabia back at a discount, lol.

“The Secretary’s authority to purchase mortgage-related assets under this Act shall be limited to 700,000,000,000 dollars outstanding at any one time”........

Did I read somewhere that Bush tried to reform Freddie and Fannie back in 2005 but the Dems blocked it? Not sure I remember that properly.