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Old 09-26-2008, 09:30 AM
 
Location: Southern Oregon
2,891 posts, read 4,188,448 times
Reputation: 3097

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If you go back and look at the policies that were put in place during the "great depression" years you'll find they are no different than the ones being discussed today. All it accomplished was to drag the depression on for 10 years. You can not use poor policies to fix poor judgments, all you wind up with is more of the same. The Federal reserve bank was the cause of this condition we find our country in today, low interest rates in an over inflated housing market which causes a ripple effect when it has to collapse. Now we are asking those with this poor judgment to fix it, this is like the blind leading the blind. This bailout may work in the short term, but it will cause even more serious effect later down the road, and we'll find ourselves in a worse condition. If we refuse to look at history and learn from it, then we are doomed to repeat it.
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Old 09-26-2008, 10:46 AM
 
Location: Phoenix, AZ
6,175 posts, read 3,495,652 times
Reputation: 3798
Well, lets see what happens. Bush is in such a hurry to pass that turkey bailout of his. As usual, he's instilling fear. It's going to take a while to get "a deal". I hope so. All this gloom and doom coming from Bush saying how we had to act Now and the sky hasn't fallen yet.

This bailout is just highway robbery.
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Old 09-26-2008, 11:31 AM
 
Location: Dublin, OH
2,364 posts, read 3,411,572 times
Reputation: 1473
Why should my tax dollars go to help Wall Street fat cats who f'd up? I am completely 100% against this bailout. They try to say the gov't will make a profit on these so called loans, well that's pure BS or someone in the private sector would step up and buy some. Plus, they want the Secretary of the Treasury to have no oversight, and no court review for how he spends this money. That's about as unconstitutional as it gets, b/c their always has to be checks and balances. Contrary to what the corporate media is trying to lead everyone to believe, the sky is not falling, and doing nothing will not lead to a depression. Normal banks are still doing ok, they have money to lend. Thankfully, they will toughen up their lending standards, and not lend to someone w/ substandard credit, as it should be. If they want to bail out Wall Street, all the millionaire fat cats should have their money pay for it.

If they want to some sort of tax payer sponsored bail out, bail out us regular folks. Pay our mortgages for a year, whether we're behind or not. That will benefit the most folks. Then it will stabilize these bad loans, and won't benefit the fat cats on Wall Street w/ their multi million dollar condos, and million dollar yachts, and million dollar 2nd and 3rd homes.

Last thing of frustration, we're already running record debt at the Treasury. So, where will this bail out money come from, more loans from China or the Middle East?

Nobody in the public wants this, yet the Idiot in Chief Bush, and the rubber stamp congress, save for the House Rebublicans, are all on board. I hope ever law maker that votes for this bill will be voted out of the Congress or Senate the next chance they get.
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Old 09-26-2008, 11:37 AM
 
124 posts, read 227,075 times
Reputation: 55
Quote:
Originally Posted by EDnurse View Post
Well, lets see what happens. Bush is in such a hurry to pass that turkey bailout of his. As usual, he's instilling fear. It's going to take a while to get "a deal". I hope so. All this gloom and doom coming from Bush saying how we had to act Now and the sky hasn't fallen yet.

This bailout is just highway robbery.
Maybe but I know 2 companies (500 employees) that will close because they cannot get short term funding.

It might be a wall street mess - but Main Street will pay.

Yeah bring on 25% unemployment baby!
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Old 09-26-2008, 11:48 AM
 
1,110 posts, read 3,904,025 times
Reputation: 423
Horray for the House Republicans!!! Dont give in. This bailout is exactly what it is. Bailing out Wall Street.

I hope no deal is reached at all...
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Old 09-26-2008, 12:04 PM
 
124 posts, read 227,075 times
Reputation: 55
Quote:
Originally Posted by todd72173 View Post
Horray for the House Republicans!!! Dont give in. This bailout is exactly what it is. Bailing out Wall Street.

I hope no deal is reached at all...
And you will probably be the first to looose your job....
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Old 09-26-2008, 12:33 PM
 
Location: Southern Oregon
2,891 posts, read 4,188,448 times
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Slonga, most companies already have an establish line of credit with their banks and most likely will not feel the credit crunch. It's the investment banks that will be hit the hardest, and most of there assets lay overseas and in home mortgages. To bail out these banks is like pouring money down the drain.
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Old 09-26-2008, 12:47 PM
 
12,504 posts, read 16,584,283 times
Reputation: 24117
Someone in another thread regarding tonight's debate suggested that questions about the national economic crisis has no place in a debate on foreign policy. I argued that since the dollar is a world trading standard, it does. I should have added that since Americans tax payers may be asked to bail out foreign investors, this is a very appropriate topic for a foreign policy debate.

The Democrats keep saying they have a solution followed shortly by the Republicans saying not to count on it. I personally don't believe they know how to fix the problem and additionally, I continue to believe a compromise short of throwing moneyat the problem is not possible by this extremely partisan Congress.

If this bail out places the burden on American tax payers in order to bail out the same ones that got us here, I vote no way. If it also bails out foreign investors who have no responsibility in helping to pay it back, I say h_ll no!
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Old 09-26-2008, 03:29 PM
 
124 posts, read 227,075 times
Reputation: 55
Quote:
Originally Posted by Terryj View Post
Slonga, most companies already have an establish line of credit with their banks and most likely will not feel the credit crunch. It's the investment banks that will be hit the hardest, and most of there assets lay overseas and in home mortgages. To bail out these banks is like pouring money down the drain.
Sorry do not agree - for banks to lend to companies they have to lend to each other. Lines of Credit are worthless in this environment! There are no t-bills or agencies available, none. The overnight market is bananas....if this goes on much longer then there will be major major trouble.

At the moment, the sept t-bill, maturing in 3 days is trading above par, ABOVE PAR!!!.... I.E you have to pay money to lend overnight if you even have the cash which isn't there, everyone is hoarding everything and terrified...this has never happended before

Libor is 186 basis points above the fed and the municipal tax free rate is a whopping, enormous 7.96

Banks are not lending to each other - so they will NOT lend to companies with 'Lines of Credit'

So I am going to buy shares in Tin Openers
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