bailout bill

Discussion in 'Off Topic' started by r0k, Sep 28, 2008.

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  1. Dick Tracy

    Dick Tracy Detective/Moderator

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    At least Fuld accepted responsibility for decisions he made at Lehman, not that it will help much. There should have been action when Bear Stearns got in trouble.

    The only to sustain a consumer-based economy is with a debt bubble. Since nobody really knows how much bad paper (mortgage derivatives) and swaps (fancy name for unregulated insurance to cover the paper) was written, we have no way to gauge the size of the bubble. Estimates I saw yesterday put it at $50-60 Trillion globally.

    I'm grateful I have no debt to speak of and that I have no defined benefit retirement plan that I have expectations for.
     
  2. JRakes

    JRakes NOT your Average Joe

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    Same here, DT.

    You know, I've been saying for a few years that the economy was stalling. People looked at me as if I had 3 heads. The cold, hard reality is that the whole mess was a sham cover-up of a slipping economy, partly driven by that CF of a wank-job Georgie has been playing in Daddy's Sandbox. Hundreds of billions literally burned, sucked out of the economy with absolutely NO gain, tangible or otherwise. To make matters worse, the gov't, in general, has been so concerned with that wasted effort and covering up its ill effects that nobody has been minding the store at home!

    So, now the bubble has floated to the surface and has popped. Woopty-doo... This so-called "bail-out" plan is nothing more than another effort at shifting the perspective of a self-created disaster. They should have just skipped it, let the banks fail, let the chips fall where they may. Yes, there would be a lot of pain and heartache. But what does anybody really think this whole sham is going to bring? It's just shifting the disastrous results from one group to another. The bottom line is: There's a crisis. There's no easy fix. Burning boatloads of money on it will not fix it.

    I've come to the conclusion that the single biggest "terrorist" this country has is sitting at 1600 Pennsylvania Ave, with his "comrades" spread out in various appointed slots throughout Washington, and using the White House's substantial influence on the spineless wimps we have sitting on Capitol Hill. What a bunch of asses... There should certainly be some way to charge 'em all with treason. :mad: :mad: :mad:

    Do I sound bitter? ;)

    One thing is certain: If there is not a massive house cleaning on Capitol Hill and in the White House in a month, the American People deserve whatever pain and misery befalls them. They will have asked for it.

    But that's just me... :D
     
  3. Scoobie10

    Scoobie10 Cowboy in the Jungle

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    That would be interesting to say the least. We should start a "Don't vote for the incumbent" champaign. It would certainly get some attention if we started the new session with 100% turnover of those elected. Those not up for reelection would certainly be huming a different tune for the remainder of their term.
     
  4. Adama D. Brown

    Adama D. Brown Brighthand Reviewer

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    Go Joe. :newpalm:

    2006. :p Prior to the new congress starting at the beginning of 2007, Republicans had controlled all three since the 2002 elections.

    I seriously doubt that it will. All of this stuff is retreads from attacks used in the Democratic primary... and it's evident how well it worked then. There's also the fact that as long as the economy is crisis number one, all the other stuff is very likely to be perceived as desperate attempts to shift the the conversation to something else. Under the current circumstances, ignoring the economy and running on these distractions is as likely as not to trigger a backlash, with the attackers being viewed as out of touch with the real problems going on.
     
  5. Dick Tracy

    Dick Tracy Detective/Moderator

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    Everyone who is running for anything has already been purchased through campaign contributions. Contributors have for decades covered their bets on both sides of the aisle. What we need is reform, from campaign contributions to regulation of all financial instruments.

    It's pretty clear to me that November's winners will likely be around for one term only.

    Time for 100% publicly funded elections and massive simplification of tax code. Some loopholes are wide enough to drive an entire major continent though.
     
  6. berylrb

    berylrb Mobile Deity

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    I thought it was interesting listening to NPR today it sound like on our side of the pond we're talking about bailout ... uh ... I meant rescue, whereas Europe is characterized as doing what you say DT, real reform. I wonder if that's Nine's take too, or is NPR just being selectively positive?
     
  7. JRakes

    JRakes NOT your Average Joe

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    Again, you're exactly right, DT!

    Apologies, Gang, if I came across a little too harshly. I suppose I've just "had it" with all of this mess. The truth is, regardless of who wins what in a month, there will be no near-term relief. I personally think that by spring we'll be in much worse shape. Once winter arrives and folks are struggling even more to pay bills (utilities, etc,) and the almighty Christmas Shopping Season is an unmitigated bomb... There will be doom and gloom all around. I said that last spring and am more convinced of it now. I actually pity whomever gets into office - They've got a festering outhouse to deal with and nobody will come away clean.

    As Scoob mentioned, a "no encumbent" selection should be at the front of everyone's balloting. I've never voted strictly along party lines, but I've become so utterly disgusted with Bush and the Republican party in general that I'd welcome virtually anything else. And despite McCain's self-purported "maverick" attitude and making changes... Well, we all know that political ties are thicker than blood. He'll be beholden to carry the torch, essentially being what I saw on a bumper sticker the other day: "Bush's third term."

    I'm not easily frightened, but the very idea of that horrifies me.
    *shudder*

    Ugh... I'm going to go swing on the back porch, watch the sun set, and scratch the cats. I think they'd make a FINE pair for the ballot! :newpalm:
     
  8. Scoobie10

    Scoobie10 Cowboy in the Jungle

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    Let me be a little more specific. I'm aware of the 51-49 GOP position of the 2003 congress. However, it wasn't exactly a stronghold and many issues saw a smathering of mixed voting.

    The dems seem poised to take a solid majority in this election and I was wondering when the last time such control was seen by all three branches.
     
  9. Hook

    Hook Caught Watching Prawn

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    That would have been 1992, when Bill Clinton came to power. This was undone 2 years later in 1994 with the midterm elections.
     
  10. New Cell

    New Cell Unleashed Enigma

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    Hi friends,
    Well with General Motors now removed from low interest funding, the nails are really hurting at a 31% stock drop. Equity share holders are moving to bank stocks, why not. Your money is not safe anywhere else right...!

    And with low stock buys, comes certainly an attractive nature to purchase. But when will this slide stop...
    I say after the 8k drop in the market, time to buy...
    With Citi and Wells attempting to buy Wachovia and Citi pulling out it shows a stronger banking infrastructure.
    Traditionally the best move and safest is to stay put and not sell... :newpalm:
     
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