Call your local congressman or senator before it’s too late… Let them know: “I will vote and campaign hard against you if you pass this plan”
Please tell me you are joking… I know you are smarter than that Ptrainer
I am not joking Government is NOT the answer… Why were 799 firms chosen not to be shorted. Not 798 or 901? Because those 799 had political connections This money will be a diaster filled with corruption. Recessions are good in the normal flow of things… This money will cause a depression.
I’m with him and I’m not joking.
I’m not and haven’t been joking either. We’re going to need that 700bln to bailout FDIC next year. Bet on it.
The 799 firms were added via SIC codes and not political connections. I dont think you guys realize how close we were on Thursday to a complete melt down. I have talked to a couple of people who have been directly involved in these discussions for the past week or so, and trust me we were/are damn close to a deep recession/depression.
That’s why they added GE, and other companies And also a Niagarian company while leaving off banks such as AMEX and M&T…
Here’s what will happen. Soros and company will start shorting us like crazy. We don’t have anymore money and will now be screwed… You are paying for effect instead of effecting the cause. It’s like buying a fat person bigger pants rather than putting them on a diet. It’s going to burst worst.
Im on board too. NO joke.
Me too
I’m in. No socialism for the rich.
My firm got burned. Hell, every other firm in similar situation should also be allowed to burn. Justice and equality.
OK, I think the meaning is stop *this* bailout. Not stop *any* rescue effort. Sounds to me like one needs to have a government insurance plan for some of these assets that are underlying the turdy ABSs, and that some kind of tax or payment system needs to be arranged so that people who made money originating trash ABSs are able to pay the cost over time. I’m not sure how you engineer that best, but that would be the principle of a fair bailout.
I love Greg Mankiw’s quote on the plan": “Nonetheless, one has to be at least a bit skeptical about the idea that government policymakers gambling with other people’s money are better at judging the value of complex financial instruments than are private investors gambling with their own.”
Why should the government rescue or bail out wall street by using taxpayers money? The common man did not profit when wall street guys were making tons of money. Where was the government when these crappy products were being packaged and sold? The government wants to bail out these wall street firms–fine. Every wall street executive must be forced to return their last three years bonuses. If not, then don’t expect the common man to be an investor in the $700 billion plus hedge fund.
I want no bailout even if it means depression.
Every wall street executive must be > forced to return their last three years bonuses. > If not, then don’t expect the common man to be an > investor in the $700 billion plus hedge fund. Agree 100%. Take back anything any exectuive made over 100K a year the last three years and tell me where to sign.
Why $100K a year?
Its a reasonable sum. Thats why.
needhelp Wrote: ------------------------------------------------------- > Every wall street executive must be > > forced to return their last three years > bonuses. > > If not, then don’t expect the common man to be > an > > investor in the $700 billion plus hedge fund. > > Agree 100%. Take back anything any exectuive made > over 100K a year the last three years and tell me > where to sign. The problem is that laws cannot be retroactive. If you did something that is illegal now, but it wasn’t illegal when you did it, you cannot be held retroactively accountable. Fraud, however, is actionable. So if you can show fraud, you can have a policy that takes stuff back. Taxes lies in a middle ground. It may be possible to levy retroactive taxes, but it’s legally problematic.