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Paulson's socialistic plan to bail out Wall Street is election year fraud
Pressure is building against a bail out. I hope to God the bail out fails.— September 23, 2008 3:22 p.m.
Paulson's socialistic plan to bail out Wall Street is election year fraud
John Kenneth Galbraith said, "Socialism is coming about in this country, but it is not the work of professors or radical organizers. It's the work of executives who make their corporation indispensable to the nation and then, when faced with bankruptcy, show up in Washington with hat in hand to plead for public funding" (paraphrased). =========================================== And the reason any large company can become "too big to fail" is because we have stopped enforcing anti trust laws in the US. I was just thinking about this yesterday, if AIG is too big to fail, then why was it allowed to get that big?????? NO company should be "too big to fail". When Standard oil was broken up in 1908, it was broken out into 39 different and separate companies, then over the next 90 years it slowly grew back into exactly what it was in 1908-we have 4 MAJOR oil companies that are essentially an oligopoly, which is essentially monopoly practices. So here we are, 100 years later, right back to the scams of the early 20th Century.— September 22, 2008 8:12 a.m.
Paulson's socialistic plan to bail out Wall Street is election year fraud
The foreign newspapers are reporting that Paulson's bailout scheme is a pipe dream. ================================== The Congress is just going to raise the debt limit, and borrow the money. It has been going on for the last 26 years (since 1982), why would it stop now???? Unless, like Burwell speculates, the foreign buyers of our debt don't buy.......but I think they will buy, and buy big. They will then cherry pick as much of the high grade American assets that they can afford. If the Democrats had ANY backbone they would not play ball on this deal. As Nancy Reagan said "just say no"........ let the big financial companies fail. We need the system cleaned out and cleaned up. A large scale failure is the only way to make that happen. Our country is no longer owned by Americans, it is owned by foreign countries. Like China, Japan, Saudi Arabia. Saudi Arabia ALONE owns 8% of America's assets. That boggles the mind. How a third world, backwards, upsidedown, Mickey Mouse country like China is producing more, trading more, investing more and making more profit than America is really incomprehensible to me.— September 20, 2008 12:40 p.m.
Paulson's socialistic plan to bail out Wall Street is election year fraud
What is the alternative? A massive Depression? ===================================== First-there is no evidence a depression woudl result if we allowed the free market to correct itself. Second- by printing a TRILLION dollars of un backed currancy we will end up in a depression anyway. You think just because Bushie prints up a trillion bucks it is worth anything?????? Inflation will destroy the economy just as fast as a bunch of crooked financial firms. I would freeze ALL gov spending, including payroll, SS and all other entitlements until we ge the countries deficits under control.— September 19, 2008 10:01 p.m.
Paulson's socialistic plan to bail out Wall Street is election year fraud
johnnyvegas 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?? ==== ======== I was right in the middle of the biggest S&L melt down in US History-well until this newest one this year. The Feds-as in the RTC- were some of the stupidest people I have ever seen-obvious gov. worker. The RTC lost BILLIONS on the liquidation of mostly commercial properties in the early 90's, by packaging numerous properties into multi million dollar pools, thereby eliminating 99% of the buying market. The pools were then sold off at 50 cents on the dollar. The big REITS and Investment Banks bought up all the pools (because they were the only ones with the tens and hundreds of millions of dollars to buy), they broke out all the properties to local brokers who sold them at market and doubled their money with almost no effort. That is what happens when you get the government taking over private business and trying to be effecient. There is NO DOUBT in my mind that the Investment Banks and REIT's were paying off the RTC officials-there is simply no other explanation for their idiotic actions, although I have heard many BS lines from the idiot William Seidman, who ran the RTC. That is EXACTLY what will ahppen again. The Gov is taking over-they will form an agency like the RTC to dispose of the assets, they will then get a circus chimp like Seidman to come in and sell off the assets at 50 cents on the dollar to the exact same dorks that put the assets there in the first place, the Investment Banks, and the IB's will then meke billions on the asset sales they themselves caused to be there. This is a big scam, plain and simple. Paid for by big business. There should be NO BAIL OUT-let the chips fall where they will.— September 19, 2008 9:57 p.m.
Face value of derivatives floating around the world is $1.14 quadrillion
Carter was probably the most decent and caring President the country has seen in the last 50 years, at least, if not longer. But he did run the country into the ground and the Iran hostage fiasco was a disaster, void of leadership.— September 19, 2008 4:25 p.m.
Paulson's socialistic plan to bail out Wall Street is election year fraud
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????!!!! =============================== == .20 - .40 cents on the dollar?????????? And where did you pull that # out of???? If the Feds bought assets at .60 cents (a huge "IF") on the dollar they would still not have an asset worth market value in the current market. And WHY would the banks unload their bad assets at .60 cents on the dollar?? When they can hold the asset or unload the assets themselves for market value???? Here is some advice, DON'T listen to what a TV analyst says. Listen, learn and make your own decisions. You don't need a PhD in Economics for that. I may not be right 100% of the time, but I make my own decisions using my own brain power.— September 19, 2008 4:15 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." ========================== Well, it's only 4:07 PM, I still have 43 minutes. BOOM!— September 19, 2008 4:08 p.m.
Paulson's socialistic plan to bail out Wall Street is election year fraud
How long will they have to hold them before they can be sold at a profit? In the end the government will make a profit off of them, but how long will it take. ============================================ The mortgages will not be sold for a profit. The morgages are so upside down the one holding them would have to wait a decade or more just to break even if there were NO carrying costs. Add in the carrying costs of whatever a T-bill is yeilding and these mortgages could ever break even.— September 19, 2008 1:39 p.m.
Face value of derivatives floating around the world is $1.14 quadrillion
41. George H. W. Bush ==================================== I think we need to take #41 off the list. True, he was not re elected, but he did free an invaded nation while building a strong coalition, goodwill and consensus with other countries around the world (which his son later destroyed). #41 also rceived the highest approval rating of any President in American history (90% after Desert Storm ended) which alone proves GHWB should not be considered a failure. Im no Bushie fan. I have never been a Republican at anytime in my life-but the pride America felt after Desert Strom ended was unlike anything this country has seen in the last 40 years.— September 19, 2008 10:02 a.m.