Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

LIVE Bush to speak on bailout

Posted on 09/29/2008 4:32:53 AM PDT by CE2949BB

President Bush will speak in a few minutes. Get to a TV and watch it, if you have the stomach for it.


TOPICS: Breaking News; Business/Economy; Government; News/Current Events
KEYWORDS: 110th; acorn; ayers; bailout; corruption; crapsandwich; diversity; goldenparachutes; illegalaliens; illegals; mccain; mortgage; multiculturalism; newdeal; obama; rats; rinos; tammanyhall; teapotdome; wallstreet
Navigation: use the links below to view more comments.
first 1-5051-100101-136 next last

1 posted on 09/29/2008 4:32:53 AM PDT by CE2949BB
[ Post Reply | Private Reply | View Replies]

To: CE2949BB

I don’t (sad day) I hope the house repubs remember who they are working for


2 posted on 09/29/2008 4:34:17 AM PDT by BornToBeAmerican (“Barack Obama needs to grow up.")
[ Post Reply | Private Reply | To 1 | View Replies]

To: CE2949BB

I can’t bear to watch - besides, I’m at work.


3 posted on 09/29/2008 4:35:29 AM PDT by WorkerbeeCitizen (An inadequately policed Conservative)
[ Post Reply | Private Reply | To 1 | View Replies]

To: CE2949BB

Guess he wants to get on before the markets open

What BS —If the markets can’t wait for a debated bill then they shouldn’t survive


4 posted on 09/29/2008 4:36:47 AM PDT by uncbob
[ Post Reply | Private Reply | To 1 | View Replies]

To: CE2949BB

Says Congress reached an agreement yesterday...bold bill...appreciates leadership on both sides of the aisle..

..this addresses the root cause...requires guarantee program..oversight...ensures failed execs don’t get windfall..


5 posted on 09/29/2008 4:37:09 AM PDT by SE Mom (Proud mom of an Iraq war combat vet)
[ Post Reply | Private Reply | To 1 | View Replies]

To: WorkerbeeCitizen

Vote NO!!! Or at least vote Present.


6 posted on 09/29/2008 4:37:11 AM PDT by blf1776 (Compassionate Conservatism Is Dead - It is time to fight, fight, FIGHT!!!!)
[ Post Reply | Private Reply | To 3 | View Replies]

The US will be in the business of buying day old bread.


7 posted on 09/29/2008 4:37:59 AM PDT by tiredoflaundry (McCain/Palin '08)
[ Post Reply | Private Reply | To 6 | View Replies]

To: CE2949BB

Lemme guess. He’s selling us a boatload. I’m sick of the whole bunch.


8 posted on 09/29/2008 4:38:08 AM PDT by itsthejourney (Sarah-cuda IS the right reason)
[ Post Reply | Private Reply | To 1 | View Replies]

To: CE2949BB

This is just crazy! I said in 2006 that the housing bubble was going to burst! We were living in California and I saw people who made $80K a year getting home loans for houses costing $799K and I said THAT WILL NOT WORK FOR VERY LONG! I guess I should have told Congress! I guess I gave them credit for being smarter than they are! LOL


9 posted on 09/29/2008 4:38:26 AM PDT by buffyt (Wall Street would finance Satan's global takeover if they could make a profit.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: blf1776

I agree - no bailouts (but I still gotta work to pay taxes this morning)


10 posted on 09/29/2008 4:38:36 AM PDT by WorkerbeeCitizen (An inadequately policed Conservative)
[ Post Reply | Private Reply | To 6 | View Replies]

To: WorkerbeeCitizen

what is the real story. wouldn’t we all like to know. is he a demon new world order puppet? is he just a shill for big oil and wall street? is he so stupid to be swayed by Paulsen and Bernacke of goldman sachs heritage? is he too dumb to understand that bob woodward is no friend to him or the soldier?

so many hopes for him in 2004 have died with him. i guess we should be glad that he has stayed true to the american soldier if not the american taxpayer.


11 posted on 09/29/2008 4:38:40 AM PDT by TurtleStink
[ Post Reply | Private Reply | To 3 | View Replies]

To: SE Mom

Americans worried about cost- he understands..expects over time most if not all will be paid back...must be passed now..confident members will pass bill promptly...

vote for bill is to prevent damage to community and family..

Still facing problems..credit crunch..this will restore strength and stability..


12 posted on 09/29/2008 4:39:26 AM PDT by SE Mom (Proud mom of an Iraq war combat vet)
[ Post Reply | Private Reply | To 5 | View Replies]

To: CE2949BB

go away Bush. the whole country hates you now :(


13 posted on 09/29/2008 4:39:45 AM PDT by ari-freedom (Just let Sarah be Sarah!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: SE Mom

Bush CLAIMS that most if not all of the tax dollars will be repaid. Yeah, right.... tell me another BIG ONE!


14 posted on 09/29/2008 4:40:12 AM PDT by buffyt (Wall Street would finance Satan's global takeover if they could make a profit.)
[ Post Reply | Private Reply | To 12 | View Replies]

To: CE2949BB
Get to a TV and watch it, if you have the stomach for it.

I do not. I've got CMT on the TV. One can only look at a trainwreck for so long before being overcome by the carnage. I have to look away.

15 posted on 09/29/2008 4:40:32 AM PDT by Zeddicus
[ Post Reply | Private Reply | To 1 | View Replies]

To: CE2949BB

The phrase I’ve heard a couple times that makes me think they’ll still be “parachutes” for the execs is: The execs will not receive compensation from YOUR TAX DOLLARS.

That makes me think the companies themselves will still use funds to compensate the execs.

My husband’s read most of the bill and we still don’t have an answer, but why does the phrase “FROM YOUR TAX DOLLARS” seem to be in every explanation about compensation to CEOs.


16 posted on 09/29/2008 4:40:38 AM PDT by Dawn531
[ Post Reply | Private Reply | To 1 | View Replies]

To: CE2949BB

Give George Bush some credit. He’s the only lame duck in history that was able to cram an additional $700 billion through Congress in the last four months of his presidency.


17 posted on 09/29/2008 4:40:40 AM PDT by advance_copy (Stand for life or nothing at all)
[ Post Reply | Private Reply | To 1 | View Replies]

To: TurtleStink

Let not your heart be troubled, McCain will give away that which W didn’t have time to.


18 posted on 09/29/2008 4:40:57 AM PDT by WorkerbeeCitizen (An inadequately policed Conservative)
[ Post Reply | Private Reply | To 11 | View Replies]

To: CE2949BB

Same ol’ same ol’. Claims to get to the “root of the problem”, but he fails to even mention that the root of the problem is the government-mandated generous offering of credit to deadbeats that have a snowball’s chance in Key West of paying back these loans.


19 posted on 09/29/2008 4:41:38 AM PDT by meyer (Go, Sarah, Go!!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: CE2949BB

This whole thing is a helluva a gift to the Democrats. Bend over and prepare thyself for the great Obamessiah!


20 posted on 09/29/2008 4:41:52 AM PDT by Jim Robinson
[ Post Reply | Private Reply | To 1 | View Replies]

To: buffyt

21 posted on 09/29/2008 4:41:59 AM PDT by ari-freedom (Just let Sarah be Sarah!)
[ Post Reply | Private Reply | To 14 | View Replies]

To: CE2949BB

He looks VERY tired. Referred to European banks. Most European countries, with the exception of Germany, have economies that are in the tank (socialism at work). Those countries cannot withstand bank collapses as well as we can. A weak Europe is a huge security risk.


22 posted on 09/29/2008 4:44:32 AM PDT by randita
[ Post Reply | Private Reply | To 1 | View Replies]

To: Jim Robinson

yep


23 posted on 09/29/2008 4:44:59 AM PDT by Guenevere (We will NOT collapse.The New World Order WILL collapse.This is our last chance!)
[ Post Reply | Private Reply | To 20 | View Replies]

To: CE2949BB

So while the House website is down to show what’s in the legislation, we have Tokyo Rose on the TV set?


24 posted on 09/29/2008 4:46:49 AM PDT by Arthur Wildfire! March (Fannie + Freddie = Democrat Cronies [Dodd and Obama -- the LegisLOOTers])
[ Post Reply | Private Reply | To 1 | View Replies]

To: CE2949BB
I don't honestly know what is going to happen with this bail out package.

But I do know one thing for certain. The Rats are going to attack the Republicans for the situation we are in now and McCain et al are going to let them steam roll us. I'm just sick.

They smell blood. It's all about CHANGE!!

sw

25 posted on 09/29/2008 4:47:11 AM PDT by spectre (Spectre's wife (The Gov't can't legislate happiness)
[ Post Reply | Private Reply | To 1 | View Replies]

To: advance_copy

Did he cram it through—or just follow along like Hansel and Gretel picking up the bread crumbs?


26 posted on 09/29/2008 4:47:49 AM PDT by 9YearLurker
[ Post Reply | Private Reply | To 17 | View Replies]

To: CE2949BB

Margin Call: Leveraged Failure, Taxpayer Bailout

Sep 21st, 2008 | By Jonathan Golob | Category: Economics, Featured Articles

Via the Wall Street Journal:

Deleveraging started with securities tied to subprime mortgages, where defaults started rising rapidly in 2006. But the deleveraging process has now spread well beyond, to commercial real estate and auto loans to the short-term commitments on which investment banks rely to fund themselves. In the first quarter, financial-sector borrowing slowed to a 5.1% growth rate, about half of the average from 2002 to 2007. Household borrowing has slowed even more, to a 3.5% pace….

Hedge funds could be among the next problem areas. Many rely on borrowed money to amplify their returns. With banks under pressure, many hedge funds are less able to borrow this money now, pressuring returns. Meanwhile, there are growing indications that fewer investors are shifting into hedge funds while others are pulling out. Fund investors are dealing with their own problems: Many have taken out loans to make their investments and are finding it more difficult now to borrow.

The Wall Street Journal is right about one thing: the massive deleveraging of the whole global financial system is at the core of our present crisis.

What is leveraging? Investing with borrowed money.

When you’ve gotten those “Low Introductory Rate!” credit card offers, maybe you’ve been tempted to get the card, max out the cash advance, take that money and put it somewhere safe. Say the card has a 3% interest rate. You put the money in a 5% a year high-yield savings account. When the credit card rate is about to jump up, you take the money out of the savings account, pay off the card and pocket the difference. That’s leveraging.

If you’re mid-scheme, and the card’s rate unexpectedly jumped, you’d be doomed. Particularly if those low rate card offers are much harder to find. That’s deleveraging.


Our bailout of incompetence in the financial industry (otherwise known at the overcompensated kids who cheated off you in science and math classes) so far has three big parts:
1. Stop short selling of only certain favored stocks.

2. Buy up “toxic” debt, like the impossible to value mortgage-backed securities, at something like 40-cents to a dollar. We might be getting a good deal, or we might get hosed. Nobody, and I mean nobody, knows which is the case. You can shiver now.

3. Throw up to $50 billion of taxpayer dollars into Money Market funds, hoping to shore them up.

Last week, I wrote about a Money Market fund breaking the buck.

While there are many kinds of Money Market funds, the ones suffering the most (so far) lent money to the very oldest of investment banks. These were viewed as “safe” investments, due to the age and “respectability” of banks like Lehman Brothers.

Well, what will our fifty billion dollars be covering? Leveraged investment schemes, of course! What follows is a grossly simplified scheme of the sort of leveraged investment strategy Lehman Brothers, Bear Stearns and the ilk did with borrowed money from a pool declared to be super safe. In truth, many times the actual places this borrowed money went were more hideous, more dark and less responsible.

The favored investors come to an investment bank, or hedge fund, and ask you to take their million dollars and make it big, with minimal risk. The investment bank uses their good credit to borrow money from clueless investors at a low rate–from investments made into Money Market funds. These funds pay low interest rates to the investors, because they are “safe” investments. We’ll say for this example, 5% a year.

The bank then takes the investor’s $1 million, with a borrowed $19 million–or $29 million, or $39 million or whatever. $19 million in this example–and invests the pool of $20 million and lend it out–buying up mortgages that pay 6% a year, in this example.

If everything goes well, since the mortgage holders are paying you 6%, there is a tidy return (the dark gray) to be split. Part goes to pay the 5% owed (the dark blue) to the Money Market fund investors. The rest goes to the holder of the original $1 million–to the tune of a whopping 26% annual yield (the dark brown.)

Well, what if the mortgages don’t pay as well as hoped? The bank’s original pool of $20 million invested ($1 million of the investor, $19 million borrowed) is now less than the start.

This is a huge problem, as the Money Market people must be paid back both the principle and interest–or the bank’s credit rating, and access to this pool of money to borrow from, will be lost. So, when this is rare, the investment bank covered the difference itself, making it appear to the Money Market investors that their money was not lost.

The higher the leveraging–the more money borrowed to that collected from an investor–the greater the chance that the money borrowed cannot be paid back. From the Great Depression to the late 1990’s, this ratio was strictly regulated, and kept low. Gramm–the architect of McCain’s economic plan–was key in getting rid of any limit on the ratio.

Well, what if many of these schemes all fail at once, like happened this month? The banks ability to make up the difference would be overwhelmed. The Money Market managers would have to be told their money was gone. The bank’s credit would be trashed. The whole system crashes and burns. Deleveraging.

What to do? Should these banks–and what real social benefit is being done by these schemes?–be bailed out by the taxpayers, their losses covered?

This weekend–after a brief detour through the responsible path and the collapse of Lehman Brothers–the answer turned out to be yes.

Our wallets are being raided, to the tune of about a trillion dollars. To put this in perspective, the entire economic output of the United States, for one year, is about ten trillion dollars. One tenth of an entire year’s work is being poured into the crumbling foundations of Wall Street. And, this possibly will be insufficient to do more than temporarily slow the cascading failure.

Can anyone tell me why banks like this deserve to be saved?
Why highly leveraged schemes like this are in any way desirable?


27 posted on 09/29/2008 4:47:49 AM PDT by XR7
[ Post Reply | Private Reply | To 1 | View Replies]

To: Jim Robinson

Yep. That was the plan all along, IMHO.


28 posted on 09/29/2008 4:48:06 AM PDT by PogySailor (Time to take down the MSM/DNC cartel)
[ Post Reply | Private Reply | To 20 | View Replies]

To: randita

I had been hoping that GW was just pulling a rope-a-dope. Heck, the pod people caught him. [In truth, he’s caught up in the panic.]


29 posted on 09/29/2008 4:48:26 AM PDT by Arthur Wildfire! March (Fannie + Freddie = Democrat Cronies [Dodd and Obama -- the LegisLOOTers])
[ Post Reply | Private Reply | To 22 | View Replies]

To: advance_copy

Ouch!


30 posted on 09/29/2008 4:48:33 AM PDT by G.Mason (Duty, Honor, Country)
[ Post Reply | Private Reply | To 17 | View Replies]

To: ari-freedom
The more appropriate photo would be if ACORNs could be represented in the old' shell game there.

We (taxpayers) have been sold out. Again. Does it ever change? (Ansering my own question) NO!

31 posted on 09/29/2008 4:48:53 AM PDT by PennsylvaniaMom (SarahNoid/SarahPhobia, the Irrational Fear of a Strong, Conservative Woman.)
[ Post Reply | Private Reply | To 21 | View Replies]

To: randita

There’s goes the 35 hr work week and the 6 week vacations!


32 posted on 09/29/2008 4:48:53 AM PDT by Dr. Ursus (( commander of the simian host))
[ Post Reply | Private Reply | To 22 | View Replies]

To: randita

he did look tired. the main thing that bothers me is that the demon rats were so close in with HIS secretary Paulson. the whole things seems fishy and stinky. why did they crow like chickens at their press conference. why do they seem happy? do they have pictures of the twins naked or laura at a gay club? he seems terrified of the dems. not bipartisan but beyond belief push over.


33 posted on 09/29/2008 4:49:26 AM PDT by TurtleStink
[ Post Reply | Private Reply | To 22 | View Replies]

To: Jim Robinson

34 posted on 09/29/2008 4:49:29 AM PDT by advance_copy (Stand for life or nothing at all)
[ Post Reply | Private Reply | To 20 | View Replies]

To: Jim Robinson

If folks pay attention you can see the dems smiling ear to ear, especially pelosi and chuckie when they come to the microphones. At least when the foolish Repubs that are falling for this come to the mike they aren’t grinning ear to ear. When chuckie schumer is smiling, we’re getting screwed!


35 posted on 09/29/2008 4:49:59 AM PDT by snippy_about_it (The FReeper Foxhole. America's history, America's soul.)
[ Post Reply | Private Reply | To 20 | View Replies]

To: randita
-- He looks VERY tired. Referred to European banks. --

I just happened to be watching President Bush's speech on MSNBC, and the crawl was about a Spanish bank taking over a UK bank, and a major bank in Belgium being "partially nationalized." It is beyond question that major banking interests in the US are being nationalized. A global game is afoot, and the fat cats are seeking ways to abscond with some major $$.

36 posted on 09/29/2008 4:51:00 AM PDT by Cboldt
[ Post Reply | Private Reply | To 22 | View Replies]

To: ari-freedom
go away Bush. the whole country hates you now :(

We don't hate him, we just disagree strongly with some of his decisions.

37 posted on 09/29/2008 4:52:28 AM PDT by WorkerbeeCitizen (An inadequately policed Conservative)
[ Post Reply | Private Reply | To 13 | View Replies]

To: Jim Robinson

There’s still hope. 527s talking about Ayers have been legally stonewalled. But now Governor Blunt of Missouri is calling him out on it. That’s how we won in 04 — 527s telling it like it is. This bailout can backfire on the rats too. Ads independent of McCain’s control that let people know how this all started:

Fannie + Freddie = Democrat Cronies [Dodd and Obama — the LegisLOOTers]


38 posted on 09/29/2008 4:52:32 AM PDT by Arthur Wildfire! March (Fannie + Freddie = Democrat Cronies [Dodd and Obama -- the LegisLOOTers])
[ Post Reply | Private Reply | To 20 | View Replies]

To: WorkerbeeCitizen

but he’s destroying us


39 posted on 09/29/2008 4:53:12 AM PDT by ari-freedom (Just let Sarah be Sarah!)
[ Post Reply | Private Reply | To 37 | View Replies]

To: Jim Robinson
Bend over and prepare thyself for the great Obamessiah!

I pray that you are only joking.
That ths is all just a bad dream.
Can this really be happening?

40 posted on 09/29/2008 4:53:24 AM PDT by XR7
[ Post Reply | Private Reply | To 20 | View Replies]

To: snippy_about_it

Chuckie is smiling because the socialist paradise begins
on Jan.20th,2009.


41 posted on 09/29/2008 4:53:27 AM PDT by Dr. Ursus (( commander of the simian host))
[ Post Reply | Private Reply | To 35 | View Replies]

To: CE2949BB

PRESIDENT BUSH! BE A MAN! DEFEND YOURSELF AND YOUR PARTY!

SCREW THE NEW TONE THAT IS DESTROYING US!


42 posted on 09/29/2008 4:54:56 AM PDT by AmericaUnited
[ Post Reply | Private Reply | To 1 | View Replies]

To: ari-freedom

Hatred is a cancerous beast - it consumes all who entertain it.

GW isn’t destroying us, socialist policies pushed by the liberals/progressives is destroying us - GW just baffles me at times.


43 posted on 09/29/2008 4:55:23 AM PDT by WorkerbeeCitizen (An inadequately policed Conservative)
[ Post Reply | Private Reply | To 39 | View Replies]

To: WorkerbeeCitizen

I think he suffered a stroke during the potato chip incident. He has more disturbing speech then when he was elected and reelected.


44 posted on 09/29/2008 4:58:12 AM PDT by epluribus_2
[ Post Reply | Private Reply | To 37 | View Replies]

To: advance_copy
Everytime I see Cramer's face 'commenting' on this 'needed' bailout, I just know he is thinking about how much $$$ this is making for him (and his ilk). We have been so taken...

You know what is NOT in all of those pages and pages of BS (that make up the bailout)...no requirement that a residential homeowner who lives in a property that is on the brink of foreclosure has to go to some sort of arbitration before the home can be taken. WHY WASN'T SOMETHING LIKE THAT PLACE IN THE BILL?!?!?!

45 posted on 09/29/2008 4:58:50 AM PDT by PennsylvaniaMom (SarahNoid/SarahPhobia, the Irrational Fear of a Strong, Conservative Woman.)
[ Post Reply | Private Reply | To 34 | View Replies]

To: buffyt

You do know that the Chrysler so called bailout, which was loan guarantees, earned the taxpayer many many millions of dollars.

Do you doubt that the mortgages bought now at deep discounts will appreciate as the housing market stabilizes?

If you want to be concerned, then we ought to demand a say in the monitoring process.

Let’s put the checkbook online, as Governor Palin did with the Alaska checkbook.

We have a right to know who is getting the dollars and why.


46 posted on 09/29/2008 4:58:50 AM PDT by Carley (she's all out of caribou.............but does have a bracelet!!!!)
[ Post Reply | Private Reply | To 14 | View Replies]

To: TurtleStink
i guess we should be glad that he has stayed true to the american soldier if not the american taxpayer.

I must've missed something: When did W raise taxes?

47 posted on 09/29/2008 4:59:12 AM PDT by Cedric
[ Post Reply | Private Reply | To 11 | View Replies]

To: epluribus_2

I thought it was a peanut.


48 posted on 09/29/2008 4:59:25 AM PDT by SpookBrat (God is good)
[ Post Reply | Private Reply | To 44 | View Replies]

To: advance_copy

LET’S PUT CRAMMER IN CHARGE -—

HE IS THE ONLY ONE THAT MAKES SENSE !!


49 posted on 09/29/2008 5:00:18 AM PDT by W-Girl
[ Post Reply | Private Reply | To 34 | View Replies]

To: randita

Kind of heartbreaking to see how exhausted he looks.

While bubba had all the luck, this president has not had the gift of good luck. He has had to lead every step of the way. Many many times with fabricated issues.......such as enron enron yellowcake yellowcake, weapons of mass destruction, and the list goes on.

I pray for President Bush.


50 posted on 09/29/2008 5:01:12 AM PDT by Carley (she's all out of caribou.............but does have a bracelet!!!!)
[ Post Reply | Private Reply | To 22 | View Replies]


Navigation: use the links below to view more comments.
first 1-5051-100101-136 next last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson