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Old 04-01-2009, 07:29 AM
 
Location: Charlotte
12,646 posts, read 13,897,232 times
Reputation: 1679

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Quote:
Originally Posted by pghquest View Post

The fact that you can sit there and say that the taxpayers will profit from buying toxic assets from the banks at face value, then selling to investors at a discount is laughable.


Is it?

I'd like to understand - you're asserting unequivocally - the Taxpayers will not benefit from the Treasury's Plan - is this correct?
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Old 04-01-2009, 07:41 AM
 
69,372 posts, read 55,371,954 times
Reputation: 9358
Quote:
Originally Posted by walidm View Post
Is it?

I'd like to understand - you're asserting unequivocally - the Taxpayers will not benefit from the Treasury's Plan - is this correct?
Obviously you havent read the whole thread, maybe you should go back, do so, then come back and repost.
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Old 04-01-2009, 07:47 AM
 
Location: Charlotte
12,646 posts, read 13,897,232 times
Reputation: 1679
Quote:
Originally Posted by pghquest View Post
Obviously you havent read the whole thread, maybe you should go back, do so, then come back and repost.
No.

I read exactly what you wrote - is this your retraction?
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Old 04-01-2009, 07:59 AM
 
69,372 posts, read 55,371,954 times
Reputation: 9358
Quote:
Originally Posted by walidm View Post
No.

I read exactly what you wrote - is this your retraction?
Again, you did not read through the threads. Borrowing money from the Chinese, paying interest to them, in order to then re-loan money out to other investors to POSSIBLY make a profit is not what the government s job is. The governments job is not to buy assets from a bank, using taxpayers money, to loan out to rich investors to make them richer.

Anyone who does not understand that higher debt = lower credit ratings and higher borrowing cost for future generations truly does not understand how the bond market works. We only need to look at California to see where the US Government is headed financially, their bond ratings were just lowered substantially and they have the highest borrowing cost of any state in the nation. We have taken the $350Billion Tarp money, have received $11B in dividends from it, and some on the left would call that "profit" while those who understand that we surely have lot more than $11B in available credit by spending $350B.

I have been VERY consistant with this through the whole thread and the fact that you want to assume I said things I didnt is no surprise. Anyone who thinks this is "profitable" does so by not looking at the complete spreadsheet of the budget and only looking at the limited one for "this plan"..

Its like saying, I made my montly mortgage this month so I'm building up equity, but conveniently forgetting to say that to do so, you put the monthly payment on your visa...
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Old 04-01-2009, 08:14 AM
 
Location: Charlotte
12,646 posts, read 13,897,232 times
Reputation: 1679
Quote:
Originally Posted by pghquest View Post
Again, you did not read through the threads. Borrowing money from the Chinese, paying interest to them, in order to then re-loan money out to other investors to POSSIBLY make a profit is not what the government s job is. The governments job is not to buy assets from a bank, using taxpayers money, to loan out to rich investors to make them richer.

Anyone who does not understand that higher debt = lower credit ratings and higher borrowing cost for future generations truly does not understand how the bond market works. We only need to look at California to see where the US Government is headed financially, their bond ratings were just lowered substantially and they have the highest borrowing cost of any state in the nation. We have taken the $350Billion Tarp money, have received $11B in dividends from it, and some on the left would call that "profit" while those who understand that we surely have lot more than $11B in available credit by spending $350B.

I have been VERY consistant with this through the whole thread and the fact that you want to assume I said things I didnt is no surprise. Anyone who thinks this is "profitable" does so by not looking at the complete spreadsheet of the budget and only looking at the limited one for "this plan"..

Its like saying, I made my montly mortgage this month so I'm building up equity, but conveniently forgetting to say that to do so, you put the monthly payment on your visa...
Again, I read the entire thread, again - you're asserting unequivocally - the Taxpayers will not benefit from the Treasury's Plan - is this correct?

It's a yes or no question, I only asked for verification, you need only say yes this is your position. Correct?
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Old 04-01-2009, 08:22 AM
 
69,372 posts, read 55,371,954 times
Reputation: 9358
Quote:
Originally Posted by walidm View Post
Again, I read the entire thread, again - you're asserting unequivocally - the Taxpayers will not benefit from the Treasury's Plan - is this correct?

It's a yes or no question, I only asked for verification, you need only say yes this is your position. Correct?

Tell me your out of the real estate business, I'd hate to think your actually still reading contracts.

No, the taxpayers will not benefit from the plan, and even if they did, that does not mean they should do it.

Now post the link you've been waiting to post showing that we will, so I can rip it apart showing how its wrong..
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Old 04-01-2009, 08:27 AM
 
Location: Charlotte
12,646 posts, read 13,897,232 times
Reputation: 1679
Quote:
Originally Posted by pghquest View Post



No, the taxpayers will not benefit from the plan, and even if they did, that does not mean they should do it.

The Taxpayers should not endorse a government plan they, themselves will benefit from?

Interesting.
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Old 04-01-2009, 08:31 AM
 
69,372 posts, read 55,371,954 times
Reputation: 9358
Quote:
Originally Posted by walidm View Post
The Taxpayers should not endorse a government plan they, themselves will benefit from?

Interesting.
Wow, no link showing we will profit from the plan or even benefit from it.. Nothing to dispute the fact that this will benefit the rich, that even economists agree will take place. I guess I'm supposed to take your word for it..

Here, let me recap since your running slow today.
The Real News Network - Geithner's Oligarchs

Lehman's Demise Triggered Cash Crunch Around Globe - WSJ.com

All of these economists are coming out and now saying exactly what I've said since day one...
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Old 04-01-2009, 08:42 AM
 
Location: Charlotte
12,646 posts, read 13,897,232 times
Reputation: 1679
Thank you for answering the question. Finally. It seemed fairly simply, but so is pulling teeth, I'm told.

I don't think it's necessary to provide you with a link.

I'm not certain why "even if they did, that does not mean they should do it" is a good strategy for the taxpayers, if they will benefit - perhaps you can explain your line of thinking on this.
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Old 04-01-2009, 08:44 AM
 
Location: Charlotte
12,646 posts, read 13,897,232 times
Reputation: 1679
Quote:
Originally Posted by pghquest View Post

All of these economists are coming out and now saying exactly what I've said since day one...
Perhaps you're smarter than all of the economists. Have you told them you've been saying this since day one?
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