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[Politics/Econ D+G] hey brother, can you spare $1T?

 
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Aske
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[Politics/Econ D+G] hey brother, can you spare $1T?
« on: September 19, 2008, 08:31:13 AM »

http://www.usnews.com/blo...-wall-street-bailout.html

I will never vote for anyone that votes for this.


*feces*, just let the house of cards fall down.
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Re: [Politics/Econ D+G] hey brother, can you spare $1T?
« Reply #1 on: September 19, 2008, 10:36:45 AM »

So the government is going to own the banks now too?
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gleek
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Re: [Politics/Econ D+G] hey brother, can you spare $1T?
« Reply #2 on: September 19, 2008, 12:58:24 PM »

This *goshdarn* bailout better be in the form of loans that these *goshdarn* banks have to *goshdarn* pay back with *goshdarn* interest.  Angry
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Re: [Politics/Econ D+G] hey brother, can you spare $1T?
« Reply #3 on: September 19, 2008, 02:52:35 PM »

This *goshdarn* bailout better be in the form of loans that these *goshdarn* banks have to *goshdarn* pay back with *goshdarn* interest.  Angry
I'd bet against that.
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MFAWG
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Re: [Politics/Econ D+G] hey brother, can you spare $1T?
« Reply #4 on: September 19, 2008, 02:53:34 PM »

This *goshdarn* bailout better be in the form of loans that these *goshdarn* banks have to *goshdarn* pay back with *goshdarn* interest.  Angry

Oh, you are so CUTE, you silly lib, you...

'Pay Back With Interest'. THAT is funny...
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The things that will destroy America are prosperity at any price, peace at any price, safety first instead of duty first, the love of soft living and the get rich quick theory of life. -- Teddy Roosevelt
Aske
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Re: [Politics/Econ D+G] hey brother, can you spare $1T?
« Reply #5 on: September 19, 2008, 02:55:31 PM »

in normal countries the government nationalizes profitable businesses
 Grin
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Russia has invaded a sovereign neighboring state and threatens a democratic government elected by its people. Such an action is unacceptable in the 21st century.
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twoiron
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Re: [Politics/Econ D+G] hey brother, can you spare $1T?
« Reply #6 on: September 19, 2008, 03:18:58 PM »

in normal countries the government nationalizes profitable businesses
 Grin

The alternative therefore is Communism.

Better get those little red books out and start waving them around
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Re: [Politics/Econ D+G] hey brother, can you spare $1T?
« Reply #7 on: September 19, 2008, 03:55:18 PM »

in normal countries the government nationalizes profitable businesses
 Grin

The alternative therefore is Communism.

Better get those little red books out and start waving them around

After 30 years of Free Market Uber Alles, we have effectively socialized the home lending industry.

The only difference is that executives made hundreds of millions of dollars in salaries and bonuses before sticking the taxpayers with the bill.
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The things that will destroy America are prosperity at any price, peace at any price, safety first instead of duty first, the love of soft living and the get rich quick theory of life. -- Teddy Roosevelt
hobbit
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Re: [Politics/Econ D+G] hey brother, can you spare $1T?
« Reply #8 on: September 20, 2008, 02:09:23 PM »

It appears that the government is picking up current mortgage portfolios that are damaging the books of financial institutions.  Its not nationalizing the issuance of new mortgages, or banks in general.  And in the process the government will get the mortgage payments or the real estate associated with the mortgages.  While the value may not turn out to be as great as the debt they are assuming, its far, far from just blowing $700M - there is a return there.

I'm all for preventing a fear based run on the market that damages structures much more sound than a house of cards, but I don't like bailing out houses of cards either.  And the sides being drawn on this are nothing more than election year theatrics as well.  The whole thing smells a bit to me.

« Last Edit: September 20, 2008, 02:11:28 PM by hobbit » Logged Return to Top

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Re: [Politics/Econ D+G] hey brother, can you spare $1T?
« Reply #9 on: September 20, 2008, 02:18:42 PM »

So they're only nationalizing the BAD debt of financial institutions?

Sounds to me like just what it is.
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The things that will destroy America are prosperity at any price, peace at any price, safety first instead of duty first, the love of soft living and the get rich quick theory of life. -- Teddy Roosevelt
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Re: [Politics/Econ D+G] hey brother, can you spare $1T?
« Reply #10 on: September 20, 2008, 02:24:24 PM »

So they're only nationalizing the BAD debt of financial institutions?

That looks to be the case at this time.

Poor precedent to set, and like I said - it smells.

Not sure its worthy of a godwin ploy though  Wink

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Re: [Politics/Econ D+G] hey brother, can you spare $1T?
« Reply #11 on: September 20, 2008, 02:29:18 PM »

Sure it is. Because it's ALL THERE:

Forcing the taxpayers to subsidize business, constant maintenance of a 'War Time Footing ' (RUSSIA RESURGENT, BE AFRAID!, The Surge Worked so we can Never, Ever Leave!) scapegoating of an ethnic minority (The Messicans are sucking up all the tax dollars!) and blind allegiance to an economic philosophy that's been proven NOT TO WORK (again) by proclaiming any other method as 'Socialism'.





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The things that will destroy America are prosperity at any price, peace at any price, safety first instead of duty first, the love of soft living and the get rich quick theory of life. -- Teddy Roosevelt
gleek
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Re: [Politics/Econ D+G] hey brother, can you spare $1T?
« Reply #12 on: September 20, 2008, 02:59:36 PM »

If that's the case, this bailout, at first blush, looks to be far worse than simply loaning these banks money to boost their liquidity. The government is letting the banks completely off the hook by taking over the highest-risk loans and eating the losses when these mortgages go into default and the properties end up being sold as HUD homes. Meanwhile there's nothing in place to prevent the banks from going right back to business as usual.
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Re: [Politics/Econ D+G] hey brother, can you spare $1T?
« Reply #13 on: September 20, 2008, 03:02:31 PM »

If that's the case, this bailout, at first blush, looks to be far worse than simply loaning these banks money to boost their liquidity. The government is letting the banks completely off the hook by taking over the highest-risk loans and eating the losses when these mortgages go into default and the properties end up being sold as HUD homes. Meanwhile there's nothing in place to prevent the banks from going right back to business as usual.


Correct.

And I really hate it when you pinko libs share my position on an issue  Wink

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