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Old 09-16-2008, 08:01 PM
 
Location: Jonquil City (aka Smyrna) Georgia- by Atlanta
16,255 posts, read 23,572,108 times
Reputation: 3587

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Let's see- in 10 days- Bear Stearns, Fannie, Freddie, Merrill, Lehman and now the biggest one yet- AIG- that the Fed is going to hand over $85 billion to simply because no private firm or bank would go near it.
Add to that unemployment rates going up up up. inflation going up, 2 never ending wars still going on, a President with apporval ratings like Hoovers and a Republican that has stood by for 8 years while all this was going on paired with an airhead lightweight VP that could not find China on a globe!
Yes, the Democrats are going to have to try really hard to lose this one! But we seem to be on the right track!
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Old 09-16-2008, 08:05 PM
 
5,524 posts, read 9,589,675 times
Reputation: 1865
Quote:
Originally Posted by KevK View Post
Let's see- in 10 days- Bear Stearns, Fannie, Freddie, Merrill, Lehman and now the biggest one yet- AIG- that the Fed is going to hand over $85 billion to simply because no private firm or bank would go near it.
Add to that unemployment rates going up up up. inflation going up, 2 never ending wars still going on, a President with apporval ratings like Hoovers and a Republican that has stood by for 8 years while all this was going on paired with an airhead lightweight VP that could not find China on a globe!
Yes, the Democrats are going to have to try really hard to lose this one! But we seem to be on the right track!
Yeah but fundamentals are sound

Whatever happened to REAL capitalism? Oh wait it just died!
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Old 09-16-2008, 08:21 PM
 
69,366 posts, read 61,551,324 times
Reputation: 9381
Quote:
Originally Posted by KevK View Post
Let's see- in 10 days- Bear Stearns, Fannie, Freddie, Merrill, Lehman and now the biggest one yet- AIG- that the Fed is going to hand over $85 billion to simply because no private firm or bank would go near it.
Add to that unemployment rates going up up up. inflation going up, 2 never ending wars still going on, a President with apporval ratings like Hoovers and a Republican that has stood by for 8 years while all this was going on paired with an airhead lightweight VP that could not find China on a globe!
Yes, the Democrats are going to have to try really hard to lose this one! But we seem to be on the right track!
Kev, here is where we agree.. but note a common trait, most of the companies having MAJOR issues right now, the ones being bailed out, are the ones with some type of federal backing.
Bear Stearns, marketed government commodities, and debt.
Fannie Mae/Mac, marketed government insured mortgages.
Lehman, marketed government commodities and debt.
AID, insured mortgages and investment collateral, insured by the government.

Note the pattern? All offering governmental something or else, and not just small time either, major players. This is the reason the Fed is bailing them out, its cheaper to hand over $85Billion then lose trillions in securities.
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Old 09-16-2008, 08:27 PM
 
Location: Jonquil City (aka Smyrna) Georgia- by Atlanta
16,255 posts, read 23,572,108 times
Reputation: 3587
Quote:
Originally Posted by pghquest View Post
Kev, here is where we agree.. but note a common trait, most of the companies having MAJOR issues right now, the ones being bailed out, are the ones with some type of federal backing.
Bear Stearns, marketed government commodities, and debt.
Fannie Mae/Mac, marketed government insured mortgages.
Lehman, marketed government commodities and debt.
AID, insured mortgages and investment collateral, insured by the government.

Note the pattern? All offering governmental something or else, and not just small time either, major players. This is the reason the Fed is bailing them out, its cheaper to hand over $85Billion then lose trillions in securities.
What does it take to get a job on Wall Street? I said 3 years ago that housing was going to correct BIG time because you cannot have any product- including houese- that go up 20% a year while the wages of the people who buy them only go up 4% a year. Something there has to give. Now, if I, a regular worker, can figure that out, why can't a Wall Street fund manager?
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Old 09-16-2008, 08:30 PM
 
13,722 posts, read 18,107,238 times
Reputation: 16939
Lehman was not bailed out. Check your facts.
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Old 09-16-2008, 08:30 PM
 
69,366 posts, read 61,551,324 times
Reputation: 9381
Quote:
Originally Posted by KevK View Post
What does it take to get a job on Wall Street? I said 3 years ago that housing was going to correct BIG time because you cannot have any product- including houese- that go up 20% a year while the wages of the people who buy them only go up 4% a year. Something there has to give. Now, if I, a regular worker, can figure that out, why can't a Wall Street fund manager?
Because the wall street fund manager knows someday that the market will correct, they just assume they will make their money and get out prior to it happening. Heck, some did, they were then replaced by individuals who were less educated (i.e. because your always looking to cut costs) who then started making their fortunes and assumed that they would get out before a crash, etc..

never ending cycle until the crash..
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Old 09-16-2008, 08:32 PM
 
Location: Jonquil City (aka Smyrna) Georgia- by Atlanta
16,255 posts, read 23,572,108 times
Reputation: 3587
Quote:
Originally Posted by luzianne View Post
Lehman was not bailed out. Check your facts.
The title of the thread clearly states "bailout/failure"
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Old 09-16-2008, 08:35 PM
 
13,722 posts, read 18,107,238 times
Reputation: 16939
Quote:
Originally Posted by KevK View Post
The title of the thread clearly states "bailout/failure"
Okay, I thought you meant bailout = failure. But still...Lehman is not the government's fault. It is the fault of greedy bankers who gave mortgage loans to people who they knew had no business buying a house because they couldn't afford it.
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Old 09-16-2008, 08:37 PM
 
Location: Jonquil City (aka Smyrna) Georgia- by Atlanta
16,255 posts, read 23,572,108 times
Reputation: 3587
Quote:
Originally Posted by luzianne View Post
Okay, I thought you meant bailout = failure. But still...Lehman is not the government's fault. It is the fault of greedy bankers who gave mortgage loans to people who they knew had no business buying a house because they couldn't afford it.
It is the government's fault for not regulating these people like they do commercial banks.
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Old 09-16-2008, 08:39 PM
 
13,722 posts, read 18,107,238 times
Reputation: 16939
Quote:
Originally Posted by KevK View Post
It is the government's fault for not regulating these people like they do commercial banks.
But isn't it the Democratic congress at fault for that if you are wanting to place blame?
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