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

# 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.

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