- This topic is empty.
-
Posts
-
Your so right Dom, everyone has their hand out and neither party wants to discuss we the people being responsible. Up until Bush, I thought the Reps made the most sense on money issues. In the late 60’s to the mid 70’s until Carter, I thought the Dems made the most sense on money issues.
Now I doubt either party has the “chops” to say what the people need to hear, because they both are smart enough to know if they do, they wont get the vote.After Bush’s 1st term I busted my butt for a 3rd party, but wow, it never got off the ground, I don’t think 3rd party is the answer. The only ones that come close are the libertairen party, but they’ll never get a President elected.
Very insightful post Dom, thanks
Well eventhough i’ve paid my bills, i’m ok with the bailout, just because you look back to the early depression when nobody did anything, everyone lost their investments and 25% of the country was out of work. It would have been cheaper and easier to prevent it before it all came crashing down, but the US loves to wait till something builds into to a horrific crisis before the politicians stop ventilating and start working.
What i’m most amazed at is how despite the US’s debt skyrocketing, people want US treasury securities more than ever. All other currencies, except the Yen, are crashing against the dollar. It makes you think that we should double the debt again
Bud
Regarding what you where saying about “supporting” the president you didn’t vote for. I agree that most people want the country to work well no matter who is in charge, but there are a hardcore of party activists who are about winning first.I really hoped that bush would have used the close/disputed election to actually try to build support for bipartisanship. Instead he and the republican party decided to not compromise on anything. Maybe had 9-11 come later or not at all, he would have done so. But i saw him as a devisive, smug, egomaniac who seemed to be unable to admit making a mistake, no matter how innocent or inconsiquential.
I would have love to find a president who i have more respect for after they leave office than i do before. Strangely enough, for me the only one in my mind (from Nixon on) that i have more respect for now than when he was president is Carter and mainly because of how little i thought of him in 1980. I was pretty disappointed in Clinton, not for what he did with monica lewinsky, but the fact that he was willing to lie under oath instead of just admiting it when it first came out, ask for forgiveness and move on. Again, a politician who waited till the house was on fire before thinking about something besides his ego and wasted years of his presidency on a sexual encounter at work (who hasn’t?
)@AmCan 182987 wrote:
Well eventhough i’ve paid my bills, i’m ok with the bailout, just because you look back to the early depression when nobody did anything, everyone lost their investments and 25% of the country was out of work.
Do you know of any links where we can monitor how that $700bn is spent?
I hear that there are many MORE companies now asking for some of it. I guess it’s only fair (if you are going to give it out) that a variety of industries get it so that we can get more of the economy moving.
I just have a bad feeling about giving it to the banks because they have NO motivation to lend it, but to keep it to buy up smaller banks and that would be horrible for us all!
How would you like to be the $700 billion dollar man!
I think I’d do a good job at that position! :cappy:I know there are plenty of people that need our help. Theres an old saying and I think it is r true to a point. Show me your checkbook and I’ll show you where your heart is. I dont mind one bit giving to my church, missions, red cross, Aids research, or any other charity, like MADD. My nephew was an off duty Chicago cop who was killed by a drunk drive 2 yrs agor so I really support it, but I want to be the one that says where my tax money goes as far as giving it to other people. I know police, fire and other groups need it, but I dont want it to go to the group who want to study the impact of cows letting out gas on global warming, nor do I was to pay for ppl whose job is staying on well fare forever.
As for wanting to know where the bailout money is going, Amen to that, I heard the same story where other business have their hand out wanting a nice holiday bonus. I dont bout any of you, but putting in 60-65 hrs a week loading and unloading walls from stages used for shows, then loading them on trucks bringing them to another studio them take them down again and reset them up on another stage and back and forth is work that is too hard and dirty for me to give my money to some fat cat or some guy who forgot to read his contract before he signed.
Yep, I’d like a link, a truthful link that tells us where every dollar is going, to both business and people on the street. The only way we can prosper as a nation and this is just my opin, is with good family structures and a stong middle class and I think the middle has been raped since president kennedy died but just about everyone who followed. JFK had it right man.
“ask now what your country can do for you, but ask what you can do for your country”
Civil rights was signed by LBJ, but it was JFK who made it possible. I know plenty of blacks fought very very hard to get it , so please forgive me if Im acting like it was only white people who brought it in the open, I only meant as far as presidents go.
Nixon took credit for landing on the moon, but that was JFK too, boy looking back that sure seems like a long time ago for me.
Goodnight all
Pittsburg bank used some of the 700 billion to Buy National City in Cleveland.. Oh wait that was supposed to be used for lending not growth right? lol.
I opposed the bail out, I oppesed the frddy fanniy too as the market need to re-adjust.
Goverment in the US is toast.. its over and done with. We will be bankrupt in 3-7 years and all be working for the goverment.
Well chips, since the entire world is doing the same thing, it’s not like the US will at a disadvantage by being broke, since everyone else is likely to be broke too. :wink-wink
On Bailout
The theory here, is that if they buy into strong banks to increase their capital base, that these strong banks will take over the weak ones. This should reduce the number of banks that the FDIC would need to bail out. National City is a perfect example, they were getting killed, they sold 60% of the company last month for a few Billion in cash and the stock still dropped and they continued to be in danger of failure.This idea of buying into healthy banks is a much better deal than buying up all the crappy paper that the banks have. This “equity” buy is not a bailout, since it’s going to the best/most stable banks. It’s really more of a loan. Sure it could be that Chase, WF, PNC, etc. might not all survive, but it’s more likely the government will make out better this way, than paying 40/50/60 cents on the dollar for bad paper. It may take 3-5-10 years before the shares are bought back, but the result should be much better than the original “buy distressed assets” plan.
BTW the first $125 billion went to buy stock in the top banks, with another $125 billion for mid size and smaller banks:
Top banks participating
The nine financial institutions that will split that first pool of money include the nation’s four largest commercial banks – Bank of America (BAC, Fortune 500), Citigroup (C, Fortune 500), JPMorgan Chase (JPM, Fortune 500) and Wells Fargo (WFC, Fortune 500).Also included are the two remaining independent investment banks – Goldman Sachs (GS, Fortune 500) and Morgan Stanley (MS, Fortune 500) – as well as Merrill Lynch (MER, Fortune 500), which last month agreed to sell itself to Bank of America. Two other major banks that primarily serve Wall Street rather than retail customers, Bank of New York Mellon (BK, Fortune 500) and State Street Corp. (STT, Fortune 500) round out the nine institutions getting help in this first round of investments.
from here: http://money.cnn.com/2008/10/14/news/economy/bank_bailout/index.htm?postversion=2008101408
Yep the rest of the worls is going broke as well, Oh wait China is not looking too bad.
Yep the rest of the worls is going broke as well, Oh wait China is not looking too bad.
Unfortunately what i’ve been hearing for the last few months, is that the hot coastal areas are another bubble that is popping. The low end manufacturers there are losing business to factories in Vietnam and Western China, based on cost/pricing. I’m also hearing/reading that the urban real estate (office space) market is about to collapse, much as tokyo did in 1989-90.
Besides China holds more US debt than anyone else, so if we go broke, they’re left holding our debt. Talk about getting the last laugh! :Cry:
