The Bail Out

[Tom]

Should we do it or not?

[ddog]

_ Hell NO! X 2Trillion :mad: :eek:


let this thing work itself out.
the system needs a good enema once in a while , there are good assets out there.

let go of the FEAR.

people that acted with caution and prudence will not get killed.

the others, well you had the gravy now meet the TRAIN.

I see where now it looks like AIG may go for north of 115B ???

let the private guys work it.

[LottaKash]

I agree with the Gov't, we should Socialize the Losses and Privatize the Profits...:jump:

[ceejay]

My vote is "necessary but disgraceful."

[fast4522]

As much as I do not like the Fed messing anything else up because it can. I do think right now things are real bad due in part of sloppy performance of many people in the markets including the people who are supposed to monitor things, no Greenspan to kick around any more, and the fact we are in a election cycle, which always boogers thing up. It looks like there is no other choice in todays light of things.

[Pell Mell]

Here's a good take on the present situation.

http://www.atimes.com/atimes/Global_Economy/JI23Dj06.html

[Secretariat]

I voted Hell No. They'll be a bailout, but what form it will take is the question.

All of these guys better be right, because this will be on their record forever, and they'll ahve to answer to the taxpayers. (Or they can just get hired by the firms they're bailing out. That's probably more likely.)

[ArlJim78]

NO F'KN WAY!

[Hank]

Ok... the people who are paid to see thses things coming and did not.Now suddenly KNOW how to make the correction in a WEEK:lol: just give them a blank chek from your pocket because the world ENDS if you don't.Please wake up folks.

[skate]

Should we do it or not?

Yes sir, imo.

No need not to apply money. That's what money is for, to help the situation.

The '29 crasher's didn't apply money, they got annals errr, i mean anus.;)

Oh, and buy banks, Now.

[ddog]

if you want some commensense on this subject , then read and think about this....

those that trot out the 29 analogies are just flat wrong or worse.



http://us1.institutionalriskanalytics.com/pub/IRAMain.asp


O and Japan applied money, they got a ten year or more flat or worse economy.
You must know which type of problems you are fighting and you won't find it in wiki land or on the mass idiot tube.

[Tom]

Right now we have most of the idiots that caused this trying to solve it without identifying what the problem was to begin with. And they have to git'r
done before vacation starts.


Where is the special prosecutor? Where is the investigation of this?
Why are WE THE PEOPLE totally of the loop?

This government is broken and must be dissolved.

[MakinItHappen]

Yes, we should do it, but the key is HOW WE DO IT!, It must be done properly. Who ever is charged with dispersing the $700 Billion should do it with the OBJECTIVE of making money for the government (ie- taxpayers). This is doable... the issue is liquidity, not value... some great value plays if you have enough money to pull it off... Gov't is only entity with enough money...

Whoever tabbed this is a BAILOUT package, should get an F for poor marketing.

This should be managed and viewed as a money making venture for the taxpayers.

Warren Buffet gets it, hope those in the gov't charged with administering this program do too, otherwise we the taxpayers could get taken for a ride!

Hope congress figures this damn thing out... really wish they would have Warren come and speak to them... then if they do not get it, they are just stupid!

Best of Luck Today Everyone!

MakinItHappen

[ddog]

the private side can do this deal, people are being mislead by over reacting gvt officials.
i don't accuse them of being crooks right here, just mistaken.

[Tom]

Both parties are favoring limiting the golden parachutes of the slime balls who screwed us all. Bush is against it. My only question is WHY, GEORGIE BOY?????


Who the HELL does this jerk represent....never mind, it is certainly not us. Apparently, he is still receiving bribes from many of them, the low life SOS.

[robert99]

Both parties are favoring limiting the golden parachutes of the slime balls who screwed us all. Bush is against it. My only question is WHY, GEORGIE BOY?????


Who the HELL does this jerk represent....never mind, it is certainly not us. Apparently, he is still receiving bribes from many of them, the low life SOS.

I listened to the whole Senate Committee debate and to me Main Street can be really proud that Senators Republican or Democrat spoke forcefully and knowledgeably on their behalf to support the taxpayer and home owners against the bankers, whilst exposing that the "plan" (a mere 3 pages of A4 updated to 6) had no clue as to how it would actually work except for a vague reverse auction, with the Treasury advised by a bus-load of Wall St "experts" and that the currently non-existent oversight was so full of holes for more corruption to occur. Will they have the spirit to vote it down though?

[Tom]

Of course they spoke against Wall Street - we call it dodging, finger pointing.
Congress - both parties, and the executive branch failed to do their jobs and now need someone to throw under the bus. Any investigation will expose them for what they did. I say let everyone go broke and then re-rebuild. No bail outs for anyone. No one deserves one.

[witchdoctor]

Another point of view



http://ibdeditorials.com/IBDArticles.aspx?id=307062470860000


Watching the same politicians who created this mess grill Mssrs. Paulson and Bernanke yesterday about what they intend to do about it was almost surreal.

Where, for example, does Chris Dodd, chairman of the Senate Banking Committee and the leading recipient of Fannie Mae campaign cash, get off acting so self-righteously when he and his panel were asked to move quickly on the administration's $700 billion rescue plan?

[ddog]

Another point of view



http://ibdeditorials.com/IBDArticles.aspx?id=307062470860000


Watching the same politicians who created this mess grill Mssrs. Paulson and Bernanke yesterday about what they intend to do about it was almost surreal.

Where, for example, does Chris Dodd, chairman of the Senate Banking Committee and the leading recipient of Fannie Mae campaign cash, get off acting so self-righteously when he and his panel were asked to move quickly on the administration's $700 billion rescue plan?



all that stuff is of no concern now.
there isn't one person up there in those hearing including Paulson who has clean hands, are you kidding, go back and look what he was asking for when he was on the private side.

Bernake is about the only clean one and he is nuts it seems for money drops.

[ddog]

chew on these quotes a bit,
you willing to bet against it being as they say? Not me.


Here is the exact quote: "Benefits, in its current form, will be largely limited to investment banks and other banks that have aggressively written down the value of their holdings and have already recognized the attendant capital impairment" said Jeffrey Rosenberg, Bank of America's head of credit strategy research.

William Poole Former St. Louis Federal Reserve Bank Weighs In

"The Treasury will be stuck with the least-attractive paper, and that means taxpayer losses will be large."

[skate]

Right now we have most of the idiots that caused this trying to solve it without identifying what the problem was to begin with. And they have to git'r
done before vacation starts.


Where is the special prosecutor? Where is the investigation of this?
Why are WE THE PEOPLE totally of the loop?

This government is broken and must be dissolved.

I agree that congress is not accountable to anyone and they keep crying, while putting blame elsewhere.

This gives them the 'out', if plan works they pat themselves on the back, if plan doesn't work, they use quotes from their speech saying how much they were against the plan.

They makes the rules, rules not working, who's at fault?

And, the economy is strong.

[fast4522]

The Congress should come together and do its job with this in a correct manner, if it fails to do so, and there is a steep job loss accross the country because it does not act, no matter what side of the isle they are on, they too should face unemployment from the Congress with our vote.

[highnote]

In case you havn't seen this email making the rounds. Here it is....
-----------------

Hi Pals,



I'M AGAINST THE $85,000,000,000.00 BAILOUT OF AIG!



Instead, I’m in favor of giving $85,000,000,000 to America in a

“WE DESERVE IT DIVIDEND.”



To make the math simple, let’s assume there are 200,000,000 bonafide U.S. Citizens 18+.



Our population is about 301,000,000 +/- counting every man, woman and child. So 200,000,000 might be a fair stab at adults 18 and up..



So divide 200 million adults 18+ into $85 billion; that equals $425,000.00.



My plan is to give $425,000 to every person 18+ as a

“WE DESERVE IT DIVIDEND.”



Of course, it would NOT be tax free.

So let’s assume a tax rate of 30%.



Every individual 18+ has to pay $127,500.00 in taxes.

That sends $25,500,000,000 right back to Uncle Sam.



But it means that every adult 18+ has $297,500.00 in their pocket.

A husband and wife has $595,000.00.



What would YOU do with $297,500.00 to $595,000.00 in your family?



- PAY OFF YOUR MORTGAGE – housing crisis solved.

- REPAY COLLEGE LOANS – what a great boost to new grads!

- PUT AWAY MONEY FOR COLLEGE – it’ll be there.

- SAVE IN A BANK – create money to loan to entrepreneurs.

- BUY A NEW CAR – create jobs.

- INVEST IN THE MARKET – capital drives growth.

- PAY FOR YOUR PARENTS' MEDICAL INSURANCE – health care improves.

- ENABLE DEADBEAT DADS TO COME CLEAN – or else!



Remember this is for every adult U S Citizen 18+, including the folks who lost their jobs at Lehman Brothers and every other company that is cutting back. And of course, for those serving in our Armed Forces.



If we’re going to re-distribute wealth let’s really do it, instead of trickling out a puny $1000.00 ( “vote buy” ) economic incentive that is being proposed by one of our candidates for President.



If we’re going to do an $85 billion bailout, let’s bail out every adult U S Citizen 18+!



As for AIG – liquidate it!

Sell off its parts.

Let American General go back to being American General.

Sell off the real estate.

Let the private sector bargain hunters cut it up and clean it up.



HERE'S MY RATIONALE: WE DESERVE IT AND AIG DOESN'T.



Sure it’s a crazy idea that can “never work.”

But can you imagine the Coast-To-Coast Block Party?



HOW DO YOU SPELL "ECONOMIC BOOM?"



I trust my fellow adult Americans to know how to use the $85 Billion "WE DESERVE IT DIVIDEND" more than the geniuses at AIG or in Washington DC.



And remember, the Birk plan only really costs $59.5 Billion because $25.5 Billion is returned instantly in taxes to Uncle Sam.



Ahhh... I feel so much better getting that off my chest.

[witchdoctor]

I think he got the math wrong. I came up with $425.00

[hcap]

Damn, I thought I won the Lotto! :eek:

[highnote]

I think he got the math wrong. I came up with $425.00


:D As soon as I posted this I said to myself that I should have checked the math. Intuitively, it didn't seem right.

850/2 = 425. You're right. -- spoilsport :D

[ddog]

SUBJECT: REQUEST FOR URGENT BUSINESS RELATIONSHIP

DEAR AMERICAN:

I NEED TO ASK YOU TO SUPPORT AN URGENT SECRET BUSINESS RELATIONSHIP WITH A TRANSFER OF FUNDS OF GREAT MAGNITUDE.

I AM MINISTRY OF THE TREASURY OF THE REPUBLIC OF AMERICA. MY COUNTRY HAS HAD CRISIS THAT HAS CAUSED THE NEED FOR LARGE TRANSFER OF FUNDS OF 700 BILLION DOLLARS US. IF YOU WOULD ASSIST ME IN THIS TRANSFER, IT WOULD BE MOST PROFITABLE TO YOU.

I AM WORKING WITH MR. PHIL GRAM, LOBBYIST FOR UBS, WHO WILL BE MY REPLACEMENT AS MINISTRY OF THE TREASURY IN JANUARY. AS A SENATOR, YOU MAY KNOW HIM AS THE LEADER OF THE AMERICAN BANKING DEREGULATION MOVEMENT IN THE 1990S. THIS TRANSACTIN IS 100% SAFE.

THIS IS A MATTER OF GREAT URGENCY. WE NEED A BLANK CHECK. WE NEED THE FUNDS AS QUICKLY AS POSSIBLE. WE CANNOT DIRECTLY TRANSFER THESE FUNDS IN THE NAMES OF OUR CLOSE FRIENDS BECAUSE WE ARE CONSTANTLY UNDER SURVEILLANCE. MY FAMILY LAWYER ADVISED ME THAT I SHOULD LOOK FOR A RELIABLE AND TRUSTWORTHY PERSON WHO WILL ACT AS A NEXT OF KIN SO THE FUNDS CAN BE TRANSFERRED.

PLEASE REPLY WITH ALL OF YOUR BANK ACCOUNT, IRA AND COLLEGE FUND ACCOUNT NUMBERS AND THOSE OF YOUR CHILDREN AND GRANDCHILDREN TO WALLSTREETBAILOUT@TREASURY.GOV SO THAT WE MAY TRANSFER YOUR COMMISSION FOR THIS TRANSACTION. AFTER I RECEIVE THAT INFORMATION, I WILL RESPOND WITH DETAILED INFORMATION ABOUT SAFEGUARDS THAT WILL BE USED TO PROTECT THE FUNDS.

YOURS FAITHFULLY MINISTER OF TREASURY PAULSON


:rolleyes:

[Tom]

Except it is not 85 Billion...it is 700 Billion. And it will not be 700 billion, it will be at least two trillion, probably three. And why are we giving tax payer money to non-tax payers? And what about me, I paid my slate clean, do I get two shares, three? I can tell you what, you bail out everyone, I am not paying my way next time. Why bother? I say let EVERYONE fail. Banks, insurance companies, people.....anyone.

The way to fight socialism is more socialism??????? :3x:

[ddog]

With a Rasmussen poll finding support for the bailout at an anemic seven percent, some members of Congress are afraid to vote for it. Call them! Let them hear from you! Tell them you will never vote for anyone who supports this atrocity.

The issue boils down to this: do we care about freedom? Do we care about responsibility and accountability? Do we care that our government and media have been bought and paid for? Do we care that average Americans are about to be looted in order to subsidize the fattest of cats on Wall Street and in government? Do we care?

When the chips are down, will we stand up and fight, even if it means standing up against every stripe of fashionable opinion in politics and the media?

Times like these have a way of telling us what kind of a people we are, and what kind of country we shall be.

In liberty,

Ron Paul

[ddog]

Son, we live in a world that has bonds and those bonds need to be bought by men with balance sheets. Who's gonna do it? You? You, Lieutenant Fuld?

I have a greater responsibility than you can possibly fathom. You weep for Bear Sterns and curse the short sellers; you have that luxury. You have the luxury of not knowing what I know: that Lehman's death, while tragic, probably saved firms and that my existence, while grotesque and incomprehensible to you, saves markets.

You don't want the truth because deep down in places you don't talk about at parties you want me buying bonds, you need me buying bonds. We use words like TSLF, PDLF, Super SIV. We use them as the backbone of a life trying to defend something. You use them as a punchline.

I have neither the time nor the inclination to explain myself to a man who rises and sleeps under the blanket of the very freedom I provide and then questions the manner in which I provide it. I would rather you just said "thank you," and went on your way. Otherwise, I suggest that you pick a sub-prime option arm bond and pay par.

Either way, I don't give a damn what you think you are entitled to."
:lol: :lol:

[fast4522]

The bill in its current form is DOA, Henry M. Paulson Jr, the President, the Congress, have to construct a bill that works so the taxpayer does not over pay as the first step, Sen. John McCain knows the current players and because he is now the leader of his party, has the ability to force change in the current bill which is crap by any standard, why do you think some want Sen. John McCain to not return to Washington and stay out of negotiations with the bill? Because they fear the man, he will put country first.

[ddog]

there are only two reasons that seem plausible:

1. he really believes the end is near and thus is showing fear and panic - not leadership we need. Bush has the market corner on that after that farce last night.
and the end is not near, i see nobody in these parts in a panic over the recent end times of bernie and paulie.

2. he wants to race to get in front of the parade so as to claim credit for this crap deal. crass pol tactics in other words.

shame for shame.

[fast4522]

I do not agree with you ddog, the time to lead is now, these people need to work all weekend, for the market to open on Monday without a meltdown. The President is a lame duck, and while he holds the top office in our country he is not the leader of his party at this point in time. Leadership is exactly what we need at this point of time.

[Tom]

How about adding this: Anyone about to lose their homes gets a loan so they can keep it. To pay it back, they must agree to take those "jobs Americans will not do." Then we deport millions of illegals and save billion on health care, law enforcement, education, bi-lingual BS, etc.

Americans doing honest labor, earning their keep, and our government not being the nanny for the third world.

[ArlJim78]

i like how part of the argument for this bailout is that the government will most likely be able to turn a profit on this, and pay the taxpayers back.:lol:


i wish i lived in in such a world where this could actually happen. a world filled with candy canes, unicorns, and gum drops.

[Tom]

Then vote for O'Bama...he's the Candy Man!

[skate]

What started all this, check out the NTY

http://query.nytimes.com/gst/fullpage.html?res=9C0DE7DB153EF933A0575AC0A96F9582 60&sec=&spon=&pagewanted=all (http://query.nytimes.com/gst/fullpage.html?res=9C0DE7DB153EF933A0575AC0A96F9582 60&sec=&spon=&pagewanted=all)


Note that this article was from 1999

[HUSKER55]

How many remember the Savings & Loan BS fro GW Sr. during Desert Storm?

Now this?


Obama wants in there But I think he wants a cut. McCain doesn't need it which leaves Sarah, which I am starting to think is going to be the "sacrificial lamb" for these pricks.

No matter what the taxpayer gets screwed.

You know what the aggrivating part is? Those rich bastards started credit bureaus to regulate poor bastards but i wonder how many of them have files that show how many corporations they ran into the ground.

If is is on their record then how did they get hired. who checked them out?

Maybe I have had one too many tonight.

I say shoot the whole damn lot! How bad would that be. Really, how bad would that be.

husker55

:)

[Tom]

Check out the congressional records for Day 1 of this democrat congress.
Read Barney Frank's remarks. He totally outlines the whole fiasco, just as if it was planned this way......which I believe it was.

Half the national budget putting everyone on Uncle Sugar's teet. Dependent on the federal government. A lib's fantasy land come to be. This was orchestrated.

[chickenhead]

.

[riskman]

What is amazing is the the high pecentage of opposition. Democrats, Republicans, liberals, conservatives, ethnic groups, rich, poor, men, women – just about everyone.This is great , there is a majority that agree.It is the criminal government and its bad actors in the financial sector vs. We the People.

Most likely Congress will pass something despite the oppostion and every lawmaker who votes for this"rescue" should be voted out of office in Nov.
How about cutting the federal budget to pay part of this swindle.People are opposed mainly because they have lost confidence in the government. Let the market work eventually it will correct. When the banks start going down we will see if the FDIC is for real.

[bigmack]

When the banks start going down we will see if the FDIC is for real.
:lol: :lol:

Wow. There are people among us that actually think like this.

[ddog]

I do not agree with you ddog, the time to lead is now, these people need to work all weekend, for the market to open on Monday without a meltdown. The President is a lame duck, and while he holds the top office in our country he is not the leader of his party at this point in time. Leadership is exactly what we need at this point of time.


and i believe a part of leadership is knowng when not to act.

either we stick to market forces as best we can or we don't.

if we don't, then a leader should come out and explain why not.

once again, recession is not the end times.

i don't root for it , but i still maintain the SOONER we get to the bottom, where that is , who knows for sure, the sooner we get back to actually productive uses of capital.


the dead wood has to be cleared away.

[Tom]

The dems control congress, and Bush is on board with them. Whether or not this deal is good or bad is not the issue. The dems are AFRAID to pass it and
take the blame if it goes south. They DO NOT NEED a super majority since Bush will NOT veto it. The dems have no spine at all. Dingy Harry is playing politics attacking McCain, while he is a rat bastard little puke of a coward for not taking action on this, as he calls it, urgent matter.

Coward, liar? Whateve, Dingy Harry and Binlosi have no integrity, and if this is really the edge of doom, they are TRAITORS for failing to act.

Break out the special prosecutor.

[LottaKash]

chew on these quotes a bit,
you willing to bet against it being as they say? Not me.


Here is the exact quote: "Benefits, in its current form, will be largely limited to investment banks and other banks that have aggressively written down the value of their holdings and have already recognized the attendant capital impairment" said Jeffrey Rosenberg, Bank of America's head of credit strategy research.

William Poole Former St. Louis Federal Reserve Bank Weighs In

"The Treasury will be stuck with the least-attractive paper, and that means taxpayer losses will be large."


With the bailout deal looking likely in Washington, central banks from around the world are preparing to DUMP U.S. DEBT in a massive, panicked selloff !....Germany, China, and Japan are like three guys in an airplane....The engines are on fire, and there's only one parachute....Whoever jumps first gets saved....The other two crash and burn....The only question now is: Who will sell off the U.S. Debt first in effort to save themselves ?.....

I am afraid that this Bailout is just a last ditch effort to stave off the inevitable, Bankruptcy of our once great economy......

And we sit with our hands tied as the Greedy Unscrupulous Ones, pilfer was is left of our National Treasury.......

best,

[delayjf]

Who will sell off the U.S. Debt first in effort to save themselves ?.....
Who would buy it??

[WaHoo]

I'm against the $85,000,000,000 bailout of AIG. Instead, I'm in favor of giving $85,000,000,000 to America in a We Deserve It Dividend.

To make the math simple, let's assume there are 200,000,000 bonafide U.S. Citizens 18+. Our population is about 301,000,000 +/- counting every man, woman and child. So 200,000,000 might be a fair stab at adults 18 and up..

So divide 200 million adults 18+ into $85 billion that equals $425,000. My plan is to give $425,000 to every person 18+ as a
We Deserve It Dividend.

Of course, it would NOT be tax free. So let's assume a tax rate of 30%.

Every individual 18+ has to pay $127,500.00 in taxes. That sends $25,500,000,000 right back to Uncle Sam.

But it means that every adult 18+ has $297,500.00 in their pocket. A husband and wife has $595,000.00.

What would you do with $297,500.00 to $595,000.00 in your family?
*Pay off your mortgage - housing crisis solved.
*Repay college loans - what a great boost to new grads
*Put away money for college - it'll be there
*Save in a bank - create money to loan to entrepreneurs.
*Buy a new car - create jobs
*Invest in the market - capital drives growth
*Pay for your parent's medical insurance - health care improves
*Enable Deadbeat Dads to come clean - or else

Remember this is for every adult U S Citizen 18+ including the folks who lost their jobs at Lehman Brothers and every other company
that is cutting back. And of course, for those serving in our Armed Forces.

If we're going to do an $85 billion bailout, let's bail out every adult U S Citizen 18+!

As for AIG - liquidate it. Sell off its parts. Let American General go back to being American General. Sell off the real estate.
Let the private sector bargain hunters cut it up and clean it up. Here's my rationale. We deserve it and AIG doesn't.
Sure it's a crazy idea that can "never work." But can you imagine the Coast-To-Coast Block Party! How do you spell Economic Boom? I trust my fellow adult Americans to know how to use the $85 Billion We Deserve It Dividend more than I do the geniuses at AIG or in Washington DC.

And remember, The Birk plan only really costs $59.5 Billion because $25.5 Billion is returned instantly in taxes to Uncle Sam.

Ahhh...I feel so much better getting that off my chest.

Kindest personal regards,

Birk

:lol: :lol: :lol:

[ddog]

"they" have allready bought a ton of "it".

I believe , if it comes to it "they" will do massive bail deals , "they" have the funding to do it and so far , it's in their interest to do it.

We will get some kind of IMF-Type plan just like other overloaded financial systems have in the past.

:(

And , i really don't feel the AIG was a true bail, i think we will come out even or a tad ahead on that deal.

[xtb]

So divide 200 million adults 18+ into $85 billion that equals $425,000. My plan is to give $425,000 to every person 18+ as a
We Deserve It Dividend.



I come up with $425.00.

[RaceBookJoe]

I come up with $425.00.

Oh be quiet...i like his math better hahaha. rbj

[bigmack]

The most absurd thing about this whole debacle (and there have been many) is that the Dem's had written in ear marks for some asinine programs. Christ, where does it end with them?

[HUSKER55]

It doesn't and that's the problemhusker55

[dutchboy]

Wall Street Journal article from Thursday Sept 25,2008. Page A21.

Interesting to read that the potential return to the US Treasury may be a net of 2.2 TRILLION dollars for the 700 billion invested.

I would assume their may be some truth to the story if it appears in the WSJ.

First paragraph mentions that in 2007 the Credit Opportunities fund correctly bet against sub prime mortgages clearing 15 billion for the year and 3.7 billion for the CEO of that fund. Nice job I guess.

[Tom]

Three things are 100%

Death
Taxes
You will never see penny one in profit from anything the govt has it's hand in.
O'Bama, if GOD FORBID, gets in, he will give it all away to the UN to fight poverty and fund terrorism.

[highnote]

I agree with the Gov't, we should Socialize the Losses and Privatize the Profits...:jump:


Your post bears repeating. This bailout will accomplish at least one thing... Privatize the Profits and Socialize the Losses.

[ArlJim78]

well, well, well, what have we here. a damning series of clips that expose the hypocracy of democrats and why the financial mess we're in is largely of their doing.

_MGT_cSi7Rs

[JustRalph]

Great Stuff!

I think it deserves its own thread!!!

[ArlJim78]

this one is really good also. about 10 minutes long but worth it.

H5tZc8oH--o

question: why do we learn more about the cause of this mess from the internet than from so-called mainstream media news organizations?

[Tom]

Hey light...is MEEKS what you meant in another thread about O'Bama acting blacker? Very impressive, Meathead Meeks.....and a cause of the financial crisis. Dems at work.....look out! :lol::lol::lol:

[TurfRuler]

http://www2.journalnow.com/content/2008/sep/25/bad-deal-bbt-chief-takes-issue-with-bailout/


For John Allison, the high-risk rollers on Wall Street are getting too much of the ear of Congress and having too much say in resolving the financial nightmare that they created.

That's why Allison, the chairman and chief executive of BB&T Corp., submitted a 14-point letter Tuesday to all 535 members of Congress with a simple message regarding the proposed $700 billion bailout.

"There is no panic on Main Street and in sound financial institutions," he wrote. "The problems are in high-risk financial institutions and on Wall Street."

[Pell Mell]

Three things are 100%

Death
Taxes
You will never see penny one in profit from anything the govt has it's hand in.
O'Bama, if GOD FORBID, gets in, he will give it all away to the UN to fight poverty and fund terrorism.

The govt. will buy the junk at full price and somewhere down the line sell it back for .50 on the dollar to the same thieves.:lol:

[ddog]

http://www.sec.gov/news/press/2008/2008-230.htm

from the horses mouth.

even the faux regulator knows they tanked this one.

notice how GBL "left" a "hole" :lol: that was overlooked :lol: in the original :lol: bill.


yeah, i know, you have to understand something of what's going on to get it.

[GeniusIQ179]

To Mr. Martin Regalia
US Chamber of Commerce


Sir,

This morning on C-Span you painted congress with several phrases, "failure to act" and "lack of action" and "roadblock unjammed". Perhaps with your background you might better call for a change in the laws at the grassroots level. The states need to stand up and stop the sales practices in the real estate and insurance markets. This country's total lack economic leadership has caused each of the depressions and recessions in this countries history.

Allowing individuals, totally unprepared, to hold the top jobs administrating the economics of this country is suicide.

[GeniusIQ179]

:) Did Warren Buffet pose for your portrait?
You are more right than you can believe.

[JustRalph]

r2RZ0sUcVcE

[witchdoctor]

r2RZ0sUcVcE

Finally he is getting this message out.

[IBCNU]

Why has no one called for the repeal of the Community Reinvestment Act? This, with the aid of activists and lawyers, forced banks and financial institutions to lend to the poor who could not repay. I see a direct link between this and mortgage and loan derivatives as banks tried to spread the risks. Of course these opened the way for the ethically challanged and the greedy which lead to the current crisis. I don't beleive anyone should be bailed out of anything until this act is repealed.

[Tom]

That is right at the heart of the problem.
Just what was Bush supposed to "oversight" when they made it a law?????

What kind of fools do they think we are?