Do you know enough about the pros and cons of the $700 Billion Dollar bail out to have an informed opinion?

[Ron.]

YES. I know we cannot afford $700B and finance a war at the same time.


Also......can they pay off my student loans?

Originally Posted by Refugee56

I doubt many people in the media, in Congress or the general public know enough about banking, finance, economics and our financial system to really have an informed opinion. So why bother to discuss?

[BankREO]

I just posted the draft text in a post a few minutes ago so we can be a little more informed.

[Wild Style]

Originally Posted by KarlaT2

Ah, an economist. I have questions! Do you not think there was some danger of all the banks melting down, not just the ones being bailed out this week? I had heard that some money market funds were down to .97 cents on the dollar on Friday. It sounded like a potential ripple effect that could have impacted everyone. Do you not agree?
Maybe you or someone can tell me why the short sellers that were not able to do any short selling yesterday were saying the prices were inflated since they couldn't short the stock? People can still sell a stock if they own it. I don't understand why short selling is allowed, and how it can even be beneficial? Can anyone explain that to me?

This is how I feel about it
link

[tony23]

Originally Posted by hello13685

Will banks repeat/continue their shady lending practices...

What incentive have they been given to change?

It's repeated over and over, in personal lives, in business, in government: When you "save" someone from suffering the negative consequences of their own bad decisions, you encourage them to keep repeating the same decisions.

[HappyTexan]

Originally Posted by tony23

What incentive have they been given to change?

It's repeated over and over, in personal lives, in business, in government: When you "save" someone from suffering the negative consequences of their own bad decisions, you encourage them to keep repeating the same decisions.

They had to clear the banks' books so the banks can get hit with the next wave of resets coming in 2009.

And there are still places offering no money down, no PMI and no closing cost mortgages !
100% Mortgage | Zero Down Mortgage | No Money Down Mortgage – AAXA Discount Mortgage

[baystater]

[quote]

Originally Posted by Nor'Eastah

YES we should continue to discuss regardless of knowledge level. Everyone has something to share; everyone has something to learn. The dissemination of information is essential to the "great conversation" that needs to take place regarding all of this. If you are a citizen, you need to be as well-informed as possible.

This situation will not improve until more and more of the citizenry can make informed decisions regarding economics. With the elections coming up (for Congress, not just the presidency), it is imperative that we get as many folks as possible up to speed.

There is no excuse for ignorance![/QUOTE]

whoa! wait a second here. Let look at some you said earlier today.


http://www.city-data.com/forum/busin...9086-cost.html

If, as I suspect, you are referring to Joe Six-pack who is howling because his bank deposits look shaky and his 401 (k) is not performing the way Wall Street shills promised him it would ("buy and hold"), you are just damning the victims, and not the perps.

So wait your saying earlier that joe six pack is a victim then your saying his ignorance is no excuse. Which one is it?

Look to me there are very few victims in the financial game. a lot of people in general out there gave these investment bank money in the hope they would get money back for retirement. There was no guarantee that they would see profit and no guarantee that they would not lose. That how the game is truly played. If joe six pack didn't bother read up on this investments and just took somebody's word for it (whether that person had a degree stuck to his wall or not.) that their problems not mine.
You know really bothers me right now. It the fact that people out there should have learned from the enron/tech bubble debacle. But no they didn't. In fact they steamrolled right through and made stuff worse by building a housing bubble that caused a financial paper bubble. And in the end that bubble just like the enron/tech bubble it burst. Now we are trying to bailout the bank to make sure the people don't panic and and pull there money from those banks.

Now with the 700 billion bailout. I going to hold my tongue until I can feel a final draft of what the congress is going to vote on. I got the general ideas but like another poster said the devil is in the details. Personal I think in the end these bailouts are not going to save housing prices/markets or stop the credit crisis. We are in a long downward spiral that being prolonged by interference by the government. Really in the end I think America will be better for this crisis and this may just get us back to economic basics. We will see.

One last thing. Be very careful when you use the word victim. That word will allow our citizenry an excuse to be continually complacent in there economic affairs. Don't give joe-six pack or anyone else an excuse not to take the time to research there decisions. That what got us here in the first place. And everyone needs to learn a lesson from this meltdown.

[tallrick]

While I do not know all the specifics of the bailout, the fundamentals are obvious. My current opinion is not "informed" as to the specifics of the bailout, but I know it is yet another attempt to keep the current dysfunctional system afloat. With the foundation of the economy, its currency, inflating year after year, it was only a matter of time before investors became nervous. The stock bubble was the first warning, then the real estate bubble convinced me that the whole system was on no foundation. Since the national debt increases every year the bailout is nothing more than a shell game. I am wondering how long it will be before there is a backlash against the current system The coming rampant inflation will affect food prices and fuel again, how long will it be before the average person puts 2 and 2 together?

[cohdane]

The thing that cheeses me off right now is that regardless of any economic fundamentals or repercussions, much of what happens in the next week is going to be decided based on the fact that Florida and California both have LOTS of electoral votes and LOTS of foreclosures.

A big part of this bailout will be motivated strictly by election year politics.

Hate politicians. Hate. Hate. Hate. Hate. Hate.

[Huckleberry3911948]

yes i do.

[tallrick]

And of course, here is where the monetary inflation leads.

Inflation in the Weimar Republic - Wikipedia, the free encyclopedia


I am glad that others are angry about this as well. Losing our savings to protect irresponsible investment is not just unfair it is immoral. It is incredible how many people I knew getting swept up in the real estate hype who said "this time it is different". They were right, this time the ones in charge do not care about the future of the republic.