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Paulson's socialistic plan to bail out Wall Street is election year fraud
johnnyvegas perhaps you somehow misconstrued my comments, so I'll clarify for you. First off, I have zero mortgage experience of any type. When I purchased my home over 20 yrs ago, I paid for it outright. In 2002 I inherited my parents home in Cardiff and my grandparent's bungalow on Coronado which my mother had inherited in 2000. Never had any type of mortgage, so I don't need one, don't want one. So obviously I know nothing about mortgage backed secutities and their derivatives. How much experience do you have?? As for making my own decisions, I have had a nice chunk of change in the market for 22 years and it has done quite well thank you. And I didn't say TV analysts. I said some pension fund managers and a few other analists have been saying.Guys actually in the industry who make decisions on buying for their funds or companies, including the guy who runs the second largest pension fund in the country; it's in ca. and I think it's the teacher's pension fund, but I'm not positive. Hank Greenberg also had alot to say as did Bill Clinton My reference to a degree in economics was refering to understanding what's going to happen with all of these toxic mortgage assets and their derivitives. And since the guys that have been in the business for many years, in some case decades, don't fully understand them fully, I seriously doubt you do. By the way. Since it appears that you, like I, am an Obama supporter, I wonder how you feel about the fact that first thing this morning Obama backed the treasury plan going as far as to say What we're looking at right now is to provide the Treasury and the Federal Reserve with as broad authority as necessary to stabilize markets and maintain credit,". Since that seems to be eems to be contradictory to your point of view, has it changed your view in any way. Not being critical, just curious.— September 19, 2008 6:24 p.m.
Paulson's socialistic plan to bail out Wall Street is election year fraud
#15 I think the one in denial is you. Again as always you don't answer a specific question that has been put to you.You simply respond with more rhetoric. I am a lifelong Dem whonever has and never will vote for a Republican for president. I would sooner vote for Pat Paulson then McCain. I just wish for once you would give a direct answer to adirect question. I guess maybe at your advanced age, it's beyond you capabilities??? BTW, in my opinion your term Neocon-Communistis a contradictory. Neocons want to enrich and empower themselves irregardless of the consequences are to all other Americans. Communism in theory stands for total public(state) ownership and rejects private property and personal profit. Also, you might be interested in this definition of capitalism, which came from my daughter's polysci 101 book: In a capitalist society their will be significant differences in wealth and power between those who have capital (machines, factories, ships, land, etc.) and those who do not. Sound familiar????— September 19, 2008 5:21 p.m.
Paulson's socialistic plan to bail out Wall Street is election year fraud
JohnnyVegas, . Aren't you the same guy who said: "WaMu will die this week. That is a JohnnyVegas Guarantee.", "WaMu will be at zero by Friday-if not sooner." and "WaMu is on the auction block. I stand by my statement that they will file BK by 5:00 PM PST Friday." So exactly which university was it that you obtained your degree in economics from? They may yet go under but your BOOM that's the way it is because I'm johnnyvegas schtick appears to be incorrect.....again. I would think that buying them at .20-.40 on the dollar would have an effct on their potential profitability. But then I don't have a degree in economics, I am only listening what some pension fund managers and a few other analists have been saying. Given the choice, who should I listen to????!!!!— September 19, 2008 2:17 p.m.
Paulson's socialistic plan to bail out Wall Street is election year fraud
# 11 I can see that you are saying that all republicans are communists, but that is an analogy at best not a definition. So I ask again what is your definition of communism? Why do you think republicans are communists. I have not read anything by the esteemed Mr. Bauder in which he equates republicanism to communism. He refered to Paulson's plan as " socialistic" but there is a big difference between socialism and communism. And I do disagree with one thing Don said: The scheme would cost taxpayers up to a trillion dollars." Absolutely no one knows how much it would cost. I could cost a trillion.... or or more....or not. No one ones how many of these "toxic mortgage assets" are out there. And the details of the plan have not been formulated, let alone disclosed to the public. These "toxic mortgage assets" would presumably bought for pennies on the dollar and eventually resold. In essence the treasury becomes a real estate holdings company. A little over simplified, I know unless they are resold for less than was paid for them, in the end what's the actual cost. No one knows for sure. And I simply can't see real estate values dropping aother 25-35%. But then again, if it is a scam, and the government drops it after the election, then it surely won't cost close to trillions. Also the ban on stock shorting isn't on every stock. It's only on 799 financial stocks and lasts only untill Oct. 2.— September 19, 2008 12:29 p.m.
Paulson's socialistic plan to bail out Wall Street is election year fraud
#9 "the republicans have brought communism to America" appears to be your new rant. Can you please provide you definition of communism because I don't see it.— September 19, 2008 11:30 a.m.
Face value of derivatives floating around the world is $1.14 quadrillion
#18 I have been a Dem my entire life and simply cannot fathom a world with McCain as president. That said I am starting to be troubled about one thing with Obama. He wants to be the candidate of change yet he is surrounding himself with Washington insiders, starting with Biden. My fear is he will do the same with the rest of his advisors/cabinet and even though Dems would be in power, where is the change when it's the same old players I am all for him adding a little experience to his ticket, but how can he be a candidate for change when his choice for vp is a 25 yr washington veteran? And thinking long term, he wouldn't be a viable candidate in 8 years when he's 73, probably meaning no clearcut candidate going into the primaries, again, giving the Repubs a chance to ramp it up whele the Dems are fighting amongst themselves.— September 19, 2008 10:25 a.m.
Paulson's socialistic plan to bail out Wall Street is election year fraud
Don, Who is Paulson trying to buy the election for??? Obama has issued his suppoert of the plan this morning and McCain has critisized it. That seems to be backwards doesn't it??— September 19, 2008 9:53 a.m.
Paulson's socialistic plan to bail out Wall Street is election year fraud
#4 Cogressional approval is needed.— September 19, 2008 9:14 a.m.