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Old 01-21-2009, 06:49 AM
 
Location: State of Being
35,885 posts, read 67,052,657 times
Reputation: 22371

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Quote:
Originally Posted by diamondplayer View Post
He must have been relaying what was said on CNBC!
He very well could have! I will ask him . . .
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Old 01-21-2009, 06:53 AM
 
Location: State of Being
35,885 posts, read 67,052,657 times
Reputation: 22371
Quote:
Originally Posted by CouponJack View Post
How could it not be "enough" when we can't even get the banks to tell us what specifically they're using the money for?

Has it been used to buy other companies? CHECK

Has it been used to pay bonuses/stock options for executives? CHECK

Is it to used to increase lending between banks (like the original intention)? BUZZZ, WRONG



This was a quote from a spokesman at JP Morgan about where the funds were going:

"We've lent some of it. We've not lent some of it. We've not given any accounting of, 'Here's how we're doing it,'" said Thomas Kelly, a spokesman for JPMorgan Chase, which received $25 billion in emergency bailout money. "We have not disclosed that to the public. We're declining to."


Why did Pelosi, Reid, Bush, Paulson and all the members of congress who voted for the 700 Billion let this happen in the first place? Wheres the outrage on this? How about local legend Sue Myrick who voted for this? I haven't seen her on WBT radio disucssing this lately.....


Oh I forgot....Its govco at its best.....I guess we are the dumb ones because we vote them all in....

<getting off soapbox>
Your post enbodies what I think so many of us have been thinking . . .

As for the politicians who voted for this . . . initially, so many did make a stand and refuse to jump on board, but then the House leadership (have I said how much I despise Reid and Pelosi????) made it clear that it was either make this a "done deal," or civilization as we knew it was going to collapse. People changed votes and fell in line.

All the fear-mongering has been stunning. I look at all the things Hoover did - wh/ were supposedly going to turn things around . . . and then I look at what we are doing . . . and I have to ask - does anyone have a clue?

I feel like we are living in a chapter out of Conrad's "Heart of Darkness," w/ people running to put out a fire, using buckets w/ holes in them . . .
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Old 01-21-2009, 07:08 AM
LLN
 
Location: Upstairs closet
4,977 posts, read 8,724,347 times
Reputation: 6443
Quote:
Originally Posted by johne482 View Post
....Some people, like me, think when tonite's partying is over we will have a very big hangover that can't be cured with aspirins OR talk.
And the Bush/NEOCON/TrickleDown/Elitism/FearMongering/Divisive approach of the last 8 years got us what again?
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Old 01-21-2009, 07:14 AM
 
Location: State of Being
35,885 posts, read 67,052,657 times
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Quote:
Originally Posted by LLN View Post
And the Bush/NEOCON/TrickleDown/Elitism/FearMongering/Divisive approach of the last 8 years got us what again?
Oh boy. Yeah, all Bush's fault that banks made crappy loans. Gosh, Bush was sure busy - running Wall Street and the Banking industry as well as the executive branch of the government. I thought the SEC and Feds had something to do w/ all that but so glad you informed me it was all Bush.
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Old 01-21-2009, 08:11 AM
 
Location: Huntersville
1,852 posts, read 4,668,638 times
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I don't have an answer, but I am still going to give it some time. I do believe it would have been worse to let the Banks fail. Instead the gov't is going to get dividends on loans made to Banks. It's a nice capital infusion and if it was used to shore up the industry in general, go for it. I don't know if people thought the infusion was going to open up more loans right away or let people re-do bad loans. I know all credit is a bit more restricted, and it should be, but I agree I would like to have seen more accountability.

Oh and as far as the stock.. who knows. It's is a risk.. So was buying Xerox, GM, Yahoo, Cisco, etc.
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Old 01-21-2009, 08:14 AM
 
Location: Some got six month some got one solid. But me and my buddies all got lifetime here
4,551 posts, read 9,276,820 times
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Quote:
Originally Posted by anifani821 View Post
Oh boy. Yeah, all Bush's fault that banks made crappy loans. Gosh, Bush was sure busy - running Wall Street and the Banking industry as well as the executive branch of the government. I thought the SEC and Feds had something to do w/ all that but so glad you informed me it was all Bush.


Ani, it's been Bush's fault for everything. From planting bombs inside the World Trade Center in order to implode it to his Evil Weather Machine that created Katrina to planting hundreds of thousands of people who's sole purpose were to buy houses that they ultimately couldn't afford, it's all been Bush's fault.


x 1,000
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Old 01-21-2009, 08:45 AM
 
7,107 posts, read 9,707,399 times
Reputation: 2564
Quote:
Originally Posted by LLN View Post
And the Bush/NEOCON/TrickleDown/Elitism/FearMongering/Divisive approach of the last 8 years got us what again?

Very selective as to how you deleted certain words from my posting. Amazes me how quickly you took the bait. Be patient my friend you might have many opportunties to promote your agenda or then again maybe not when your star falters in the sky.

Your can't eat dreams. . . they can only put you to rest. Rest up you will have a lot of defending to do over the next 4 years. BTW blaming the "other guy" will grow wiskers and become very boring after a short while. It's boring already to me after just 24 hours.
je
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Old 01-21-2009, 08:51 AM
 
Location: Charlotte,NC, US, North America, Earth, Alpha Quadrant,Milky Way Galaxy
3,769 posts, read 6,756,066 times
Reputation: 2109
I wasn't a fan of the bailout for the banks nor for the auto industry. However in regards to the banks, what do you all suppose would be an alternative solution. I've heard the suspending mark to market accounting (which drove a lot of the frenzy b/c of falling asset values), suspending capital gains tax, and suspending tax related to repatriating US monies that is over seas (it's tucked there so it can't be taxed here).

Incidentally the bailout proposal originated with Paulson whom I have my own opinions about (not all that good).

So, what is your alternative to the bailout? While I don't like it, and it's being mismanaged, I do believe it has slowed the hemorrhaging , and had something not been done immediately, it would be much worse now.

I like a good gripe session too, but I'd like to hear alternate solutions that would have slowed/stopped the bleeding for Bank of America, Wachovia, and others.
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Old 01-21-2009, 09:04 AM
 
Location: Huntersville
1,852 posts, read 4,668,638 times
Reputation: 525
Quote:
Originally Posted by Miker2069 View Post
I wasn't a fan of the bailout for the banks nor for the auto industry. However in regards to the banks, what do you all suppose would be an alternative solution. I've heard the suspending mark to market accounting (which drove a lot of the frenzy b/c of falling asset values), suspending capital gains tax, and suspending tax related to repatriating US monies that is over seas (it's tucked there so it can't be taxed here).

Incidentally the bailout proposal originated with Paulson whom I have my own opinions about (not all that good).

So, what is your alternative to the bailout? While I don't like it, and it's being mismanaged, I do believe it has slowed the hemorrhaging , and had something not been done immediately, it would be much worse now.

I like a good gripe session too, but I'd like to hear alternate solutions that would have slowed/stopped the bleeding for Bank of America, Wachovia, and others.

Thats 100% my question..
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Old 01-21-2009, 11:34 AM
 
1,343 posts, read 2,916,156 times
Reputation: 976
I can't blame congress for passing the bailout. When you have the chairman of the Fed and the Secretary of the Treasury, our 2 biggest financial experts, telling you it is urgent, necessary, and the consequences of not doing it are dire then congress had no choice. Not just politically (if they voted no and the world ended it would be all their fault) but practically - when you have these 2 experts telling you it must be done or else.... you have to do it. Now, many of congress are indeed expressing outrage feeling they were duped, basically were victims of extortion. They acted because there was a gun held to their heads and now see the money being used for very different purposes than what was originally proposed.
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