BAIL OUT BILL APPROVED!

Hope this calms the markets.

well woop dee doo more interested in the 30% m-o-m decline in auto sales

the senate doesn’t matter… let’s see them get it by the house.

S&P futures down 6 pts

S&P futures down 6 pts

Sen. Dianne Feinstein (D-Calif.) voted yea despite receiving 85,000 calls against it – out of 91,000 total calls.

Futures down by 8 Any company that takes handout stops paying dividend. Goverment help = DEPRESSION… Remember that

As Congress works on one of the most important pieces of economic legislation in a generation, a Washington research group has pointed out that more than 8 in 10 members of Congress don’t have a formal educational background in the business, economics, or finance fields. The research by the Center for Economic and Entrepreneurial Literacy, which aims to educate the general public about finance issues, showed that about 14% have degrees in economics-related fields and just 6.7% specifically have an economics degree. More than 30% of members have degrees in politics and government, while 18% majored in humanities. ALSO MANY HAVE NEVER WORKED IN THE PRIVATE SECTOR Futures down by 10…

Hmm. Well I don’t have any of those degrees either (though maybe statistics/CFA would count?).

The more I look at this, the more I’m moving to the doom and gloom camp. This bill was loaded up with so many bells and whistles that the ultimate impact will likely be much less significant than that of the original proposal. In addition, there’s really no guarantee that the package will do anything to get the banks lending again. What is the incentive for a bank to participate in the TARP program if the likelihood of getting lifted at price levels below book is almost a certainty? The backlash the Treasury would receive for paying a premium would be enormous. Big name firms are issuing debt with HUGE spreads and concessions. Just today, GE had to offer Buffett 3bn in 10% perpetual preferred. 10%!!! How bad a shape was GE in to have to agree to something like that!?! I haven’t even gotten to the economic data we’ve been getting. All in all, the picture is getting really bleak and none of us really have a solid solution to this other than maybe to just take it on the chin.

rohufish Wrote: ------------------------------------------------------- > well woop dee doo > > more interested in the 30% m-o-m decline in auto > sales even toyota recorded a 32% decline in sales. wow ,lucky that we are not in a recession

Lots of companies are heavy on illiquid or long-term assets they can’t use and short-term liabilities on the other side. No banks willing to refinance - they’re helplessly looking for liquidity. it’s hell out there.

If the CP market does not start to move on…things will get very nasty

ymmt Wrote: ------------------------------------------------------- > The more I look at this, the more I’m moving to > the doom and gloom camp. This bill was loaded up > with so many bells and whistles that the ultimate > impact will likely be much less significant than > that of the original proposal. In addition, > there’s really no guarantee that the package will > do anything to get the banks lending again. What > is the incentive for a bank to participate in the > TARP program if the likelihood of getting lifted > at price levels below book is almost a certainty? > The backlash the Treasury would receive for paying > a premium would be enormous. > > Big name firms are issuing debt with HUGE spreads > and concessions. Just today, GE had to offer > Buffett 3bn in 10% perpetual preferred. 10%!!! How > bad a shape was GE in to have to agree to > something like that!?! I haven’t even gotten to > the economic data we’ve been getting. All in all, > the picture is getting really bleak and none of us > really have a solid solution to this other than > maybe to just take it on the chin. Then why don’t we get solutions together? I’ve posted a few ideas and there is some tepid response to talking about it. I can get lots more response by posting “The solution is clearly laid out by Ron Paul (or Henry Paulson or Charles Manson or whoever) and anyone who disagrees is stupid”. Edit: Charles Manson. Maybe this is the beginning of the Helter Skelter.

JoeyDVivre Wrote: ------------------------------------------------------- > ymmt Wrote: > -------------------------------------------------- > ----- > > The more I look at this, the more I’m moving to > > the doom and gloom camp. This bill was loaded > up > > with so many bells and whistles that the > ultimate > > impact will likely be much less significant > than > > that of the original proposal. In addition, > > there’s really no guarantee that the package > will > > do anything to get the banks lending again. > What > > is the incentive for a bank to participate in > the > > TARP program if the likelihood of getting > lifted > > at price levels below book is almost a > certainty? > > The backlash the Treasury would receive for > paying > > a premium would be enormous. > > > > Big name firms are issuing debt with HUGE > spreads > > and concessions. Just today, GE had to offer > > Buffett 3bn in 10% perpetual preferred. 10%!!! > How > > bad a shape was GE in to have to agree to > > something like that!?! I haven’t even gotten to > > the economic data we’ve been getting. All in > all, > > the picture is getting really bleak and none of > us > > really have a solid solution to this other than > > maybe to just take it on the chin. > > > Then why don’t we get solutions together? I’ve > posted a few ideas and there is some tepid > response to talking about it. I can get lots more > response by posting “The solution is clearly laid > out by Ron Paul (or Henry Paulson or Charles > Manson or whoever) and anyone who disagrees is > stupid”. > > Edit: Charles Manson. Maybe this is the beginning > of the Helter Skelter. so what is the joey plan?.can you please repost it for renewed discussion.? thanks