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Old 01-14-2009, 10:39 AM
 
19,108 posts, read 20,677,468 times
Reputation: 8394

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Like I said, you cannot stop what is inevitable.. the government gave pretty much 345 BILLION in guarantees and loans to this company which will soon be liquidated and sold... I guess that was a "good" idea... NOT... I already told you all before, everything would be fine if they PAID and not go into bankruptcy but that is NOT going to happen... if they default, guess who pays? I was against it from the beginning because it was only forestalling the inevitable and only giving CEOS bonuses (umm.. I mean "awards") and CONTINUED salaries... even though Morgan Stanley is buying Smith Barney, it does NOT change the end result... Morgan Stanley is very close to bankruptcy again and buying Smith Barney was to help them get money from the government... it still all ENDS the same... they are going down and taxpayers are going to lose billions... Thanks Paulson and Bernanke... should of listen to Ron Paul... here comes the bill! You do not solve a problem by throwing money at it (sorry Bush, sorry Obama... you don't fix problems that way)...

Citi plunges as investors brace for break-up - Jan. 14, 2009
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Old 01-14-2009, 02:39 PM
 
Location: Seattle, WA
209 posts, read 549,120 times
Reputation: 87
This will be like the 6th time we have rescued this bank. I don't believe we can have good banks until we let the bad bank fail. It really sends the wrong message. We also should not let companies get so large that they are considered "too big to fail", that is just rhetoric to have subsidize risk taking for the gain of the relative few. If your too big to fail then your just too big of a risk to be that big.
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Old 01-14-2009, 04:03 PM
 
706 posts, read 1,188,095 times
Reputation: 438
Too big to succeed is closer.
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Old 01-14-2009, 05:58 PM
 
Location: Orlando, Florida
43,857 posts, read 45,533,815 times
Reputation: 58647
These banks are starting to remind me of young adults who would rather live on their parents money instead of getting a job. I think it is time for some tough love.
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Old 01-14-2009, 06:05 PM
 
Location: Sheepshead Bay, Brooklyn, New York
195 posts, read 691,248 times
Reputation: 89
Even the HSBC will need $30 billions!!!
Someone said that the 2nd round of economic crisis will not be surfaced until this April or June!
We are really into a deep trouble!!
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Old 01-14-2009, 06:05 PM
 
Location: Chicago, IL
8,998 posts, read 13,396,832 times
Reputation: 3536
They shouldn't have gotten taxpayer money in the first place.
Just let them fail.
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Old 01-14-2009, 07:14 PM
 
Location: Great State of Texas
86,068 posts, read 74,781,320 times
Reputation: 27602
Nope..isn't going to happen. Both Bush and Obama have asked for the rest of the bailout money.
We'll see who that goes to now.
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Old 01-14-2009, 07:33 PM
 
Location: Fort Myers Fl
2,305 posts, read 2,751,880 times
Reputation: 917
I believe Bank of America is going to be running into trouble also. When they purchased Merrill Lynch I really had my doubts that was a wise move. Now there was a good stock to short!
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Old 01-14-2009, 07:45 PM
 
19,108 posts, read 20,677,468 times
Reputation: 8394
BoA is now getting a deal similar to Citi... we will be on the hook for hundreds of billions more for BoA to buy Merril.... I wish somebody would pay me money to buy stuff... hehehehe
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Old 01-15-2009, 12:27 AM
 
3,853 posts, read 11,857,297 times
Reputation: 2521
Quote:
Originally Posted by LiveTodayLez08 View Post
They shouldn't have gotten taxpayer money in the first place.
Just let them fail.
yup, cheaper in the long run. Just have the government seize the banks and liquidate all assets to recover the 700 billion then use that money to pay down all the debt we used to finance it. I know most of these banks own prime real estate buildings in all of the biggest metro areas. We could convert that for other companies or for housing.
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