actual bailout cost to you... $5000

According to Wikipedia, only 138 million americans file federal tax returns (out of a population of 300 million). If the bailout costs $700 billion then that works out to be about $5000 per taxpayer. I wrote my congressman and senator a while ago. I’m now going to start calling them. I’m going to ask them to slow down and not be hurried by the snake oil salesmen from Wall Street who are trying to save us from depression (depression my arse… give us an energy policy and that will avoid a depression). It takes 10 seconds to find your senator & congressman. It takes another 30 seconds to leave them a voicemail. Then you’re done. http://www.usa.gov/Contact/Elected.shtml

Plus the potential 300B from Fannie & Freddie so… like 7500?

Not likely it will actually cost anything near $700 billion. That’s worst case scenario. But I see your point.

kkent Wrote: ------------------------------------------------------- > Not likely it will actually cost anything near > $700 billion. That’s worst case scenario. But I > see your point. I will put my (pseudo-)Republican blinders on for a few moments so I can try to understand you, kkent. So how much will it cost using blind partisan mathematics?

I’m just telling you what Paulson said–that the actual cost at the end of the day will likely cost nothing close to $700 billion. I guess you know something the Treasury Secretary doesn’t–oh, but wait, I’m just being a partisan right-wing nut, although the original statement has absolutely no partisan undertones whatsoever. Seriously, you must be one of those guys who refuses to have friends who are Republicans (and I know plenty of Republicans who refuse to keep Democrats as company). You probably sit around at Starbucks talking about how evil the other side is, all the while you’ve probably not spent more than 10 minutes of your life outside of forced work time with someone who disagrees with you. This is a serious issue on both sides of the isle–where the hatred for the other side becomes so intense that every statement can be interpreted as a political assertion or a partisan attack. Just a piece of advice–step back, take a breath, and realize that people who view the role of government differently than you don’t worship Satan and drink blood.

I’m an independent and I identify much more with the Republican party than the Democratic party…I’m not voting for Obama. When I say Republican party, I don’t mean Bush’s neocon party, I’m talking about the “true” Republican party that’s closer to Libertarianism. The crazy party in power now simply calls itself Republican so that people like you will follow it unconditionally and demonizes whoever isn’t a believer of the dumbed down and coarse party line. I’ve read many of your posts and for you: What a typical Republican says is good. What a typical Democrat say is bad. No nuances.

Why would it cost $700bn??? Is every borrower going to default and will the recovery rate be 0%? Get real. He might even make the tax-payer some cash. I alluded this possibility in another post, though I was unsure of myself (thanks, JDV, for the detailed response). Citi published a short note over the weekend, also flagging this as a potential outcome.

Someone close to me has to delay his retirement that was planned for next year. Work hard, pay your taxes, respect the law, be a good citizen…get destroyed by idiotic actions of the rich/powerful on Wall Street and their friends in government.

Etienne Wrote: ------------------------------------------------------- > Why would it cost $700bn??? Is every borrower > going to default and will the recovery rate be 0%? > Get real. He might even make the tax-payer some > cash. > > I alluded this possibility in another post, though > I was unsure of myself (thanks, JDV, for the > detailed response). Citi published a short note > over the weekend, also flagging this as a > potential outcome. Who is the author on that Citi note? I would be interested in reading it…

sublimity Wrote: ------------------------------------------------------- > Someone close to me has to delay his retirement > that was planned for next year. > > Work hard, pay your taxes, respect the law, be a > good citizen…get destroyed by idiotic actions of > the rich/powerful on Wall Street and their friends > in government. Or, the Government could do nothing and odds are, neither you or I would be able to retire. Let’s be real here, either accept it and be a part of the solution or complain about the problem. Sure, they should have acted sooner, sure there could have been more regulation. Hindsight is 20/20.

This is like when your son (or a relative that you never really liked in the first place) tells you he got in the hole with Tony Soprano for 100k. What can you do besides bite the bullet and pay off the debt.

whats worse? having to pay 5000 in taxes over several years with the possibility of not having to pay anything if the plan ends up working and the mortgages have value. Or watch all your stocks, 401K etc get cut in half and you are unable to withdraw cash from your bank as we will prolly enter the second great depression.

^ That is just a moronic statement that comes from listening to the Sarah Palin supporters of the world. I absolutely positively assure you that is wrong and you need to think about it more.

JoeyDVivre Wrote: ------------------------------------------------------- > ^ That is just a moronic statement that comes from > listening to the Sarah Palin supporters of the > world. I absolutely positively assure you that is > wrong and you need to think about it more. care to explain why you think its wrong??

Haven’t I done that enough and hasn’t everyone else done that enough? Framing this choice between taking on lots of debt to bail out investment banks and the second great depression is silly. For one thing, the bailout is a certainty and the second great depression is a very unlikely outcome of not doing it. It’s never fair to frame a choice as between a certainty on one hand and a vague possibility on the other.

virginCFAhooker Wrote: ------------------------------------------------------- > According to Wikipedia, only 138 million americans > file federal tax returns (out of a population of > 300 million). If the bailout costs $700 billion > then that works out to be about $5000 per > taxpayer. > > I wrote my congressman and senator a while ago. > I’m now going to start calling them. I’m going to > ask them to slow down and not be hurried by the > snake oil salesmen from Wall Street who are trying > to save us from depression (depression my arse… > give us an energy policy and that will avoid a > depression). > > It takes 10 seconds to find your senator & > congressman. It takes another 30 seconds to leave > them a voicemail. Then you’re done. > > http://www.usa.gov/Contact/Elected.shtml Wouldn’t tax paying entities be taking on some of this bailout cost? (LLC, S Corps, and Corps?)

LLCs and S Corps, No.

JoeyDVivre Wrote: ------------------------------------------------------- > ^ That is just a moronic statement that comes from > listening to the Sarah Palin supporters of the > world. I absolutely positively assure you that is > wrong and you need to think about it more. that statement may be strong, but faced with the choice of $5k or “the unknown”, gimme the $5k.

your personal behavioral bias and risk preferences will not change the factual, risk-neutral event generating engine that operates this world. the optimal choice will remain the risk-neutral one.

budfox427 Wrote: ------------------------------------------------------- > JoeyDVivre Wrote: > -------------------------------------------------- > ----- > > ^ That is just a moronic statement that comes > from > > listening to the Sarah Palin supporters of the > > world. I absolutely positively assure you that > is > > wrong and you need to think about it more. > > > that statement may be strong, but faced with the > choice of $5k or “the unknown”, gimme the $5k. you’re working on the assumption that the $5k is going to fix everything and make it all go away? I don’t know, but I sure don’t think this is over just bc of the measures that have already been taken. A lot of them will eventually expire and what will happen then? That will be interesting. Way to opaque out there right now… I don’t like it.