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The Republicans should stop this farce. The failing institutions are going to fail regardless. Let these garbage ABS bonds go with the banks into Chapter 11. Then real investors can assess the REAL value and make a REAL offer for the asset. WE ARE GEARED TO HANDLE THIS ISSUE. Hundreds of banks and thousands of investors have been patient for years, doing business the right way, waiting for this opportunity for reward. Instead, we are about to reward the failures, and the sad part is, they are still going to fail anyway.
1 posted on 09/29/2008 7:59:57 AM PDT by johncocktoasten
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To: johncocktoasten

Watching C-SPAN. They do not realize how out of touch they are, how hollow their words are, how corrupt they are....


2 posted on 09/29/2008 8:02:36 AM PDT by Rapscallion (I want to hear the sound of tumbrels....)
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To: johncocktoasten

Looks like there’s some pretty firm opposition to the sellout from both parties in the house.


3 posted on 09/29/2008 8:07:55 AM PDT by cripplecreek (Paying taxes for bank bailouts is apparently the patriotic thing to do. [/sarc])
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To: johncocktoasten

Meredith Whitney has been a lone voice in the wilderness,and she’s been right on the issue from day one.Her prediction and analyzing is why I’m in good shape financially.I’ve prepared over the last 1 1/2 years for this situation.I can actually live off of McDonalds pay if I have to,now.


4 posted on 09/29/2008 8:08:32 AM PDT by quack (Democracy For Sale: $700 Billion Or Best Offer)
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To: johncocktoasten
Whitney said a couple weeks ago that Gov't money would be the only way out of this mess.

If she's not for the bailout, what Gov't plan was she in favor of?

6 posted on 09/29/2008 8:12:03 AM PDT by what's up
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To: johncocktoasten

Congress is putting together a rescue plan, to rescue themselves from the truth. Socialist government is destructive.


11 posted on 09/29/2008 8:21:52 AM PDT by CarryingOn
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To: johncocktoasten
Whitney said on CNBC that the continued slump in housing prices will make a profit from the bailout unlikely.

Our current oversupply of housing will keep home prices down for a long time to come.

12 posted on 09/29/2008 8:25:23 AM PDT by umgud (In a crisis, dump gold, buy lead)
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To: johncocktoasten

I think the plan will produce a profit.


13 posted on 09/29/2008 8:32:05 AM PDT by aMorePerfectUnion (Stalin was a community organizer...)
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To: johncocktoasten
This "No Banker Left Behind bailout = Every Child Left Behind

It is time to invest in precious metals. Tin. Brass. Lead.

Every FReeper and anyone elase theyy can email needs to go here and send this to Congress ASAP. We are all about to get squicked.

http://www.tickerforum.org/cgi-ticker/akcs-www?post=63876

CONGRESS – LISTEN UP

YOU WERE TOLD THAT YOU WERE BEING PLAYED USING “FREDDY KRUEGER” FEAR. Treasury claimed there would be 3 million job losses “in weeks” but they intend to wait 2 weeks or perhaps more before they start making purchases.

Wachovia BLEW UP this morning and is now GONE.

The G7 nations have all told George Bush (and you) to “GO TO HELL”, with CANADA being the latest to make an announcement yesterday afternoon.

YOU WERE GAMED AND THE MARKET FIGURED IT OUT ALREADY.

IT IS TANKING – NOT STABILIZING.

There is a new web site that will keep a running chronicle of the S&P 500 stock index and important events. Bloggers all over the globe are NOT going to let you or anyone else obfuscate THE TRUTH.

Contributions to the content there are rolling in from everywhere on The Web.

There is an ELECTION coming up and you are squandering $700 billion of taxpayer money WE WILL NEED for ORDINARY AMERICANS in the coming months.

http://supportedthebailout.org

WILL YOU BE ON THE “AYE” LIST?

The VOTERS are ANGRY and WILL FIRE YOU

17 posted on 09/29/2008 8:35:07 AM PDT by WV Mountain Mama ("Give me control of a nation's money and I care not who makes its laws." - Mayer Rothschild)
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To: johncocktoasten
We have seen a change occur in government bit by bit , convincing the people to buy, buy, live on credit, live today pay next year, a mentality that the last few generations think/believe is a given.

Once I said to a young woman friend. “If you do not have the money to pay for it ... do not buy it.” She responded ... “nobody does that.”

TRUE. Unfortunately. It is a way of thinking and good times. The balloon always bursts.

It can be made to inflate just so far. The government loved ENRON'S financial plan. So they tried it. All restraint was removed and when they needed more money they printed it.

BUST!

Life as we have known it is about to change.

Pray. God can do anything. This is not to hard for Him. However, His people must repent of our excluding Him from our lives and our living just like the world. Repent and ask forgiveness for our sinful living and plead for mercy on our nation.

It must be sincere... God is not mocked. God has the answers.

Read your Bible ... God will meet you there.

18 posted on 09/29/2008 8:36:20 AM PDT by geologist (The only answer to the troubles of this life is Jesus. A decision we all must make.)
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To: johncocktoasten
Contrary to predictions from some supporters of the bailout plan, Whitney said on CNBC that the continued slump in housing prices will make a profit from the bailout unlikely. "I think you definitely lose money on this $700 billion structure," Whitney said. "There's no idea where house prices bottom, and as a result how can you make money on this transaction.

Of course the bailout is a money loser. If this was a good investment, then willing buyers would purchase the bad mortgages to obtain a profit. The only reason for a bailout is that it is a losing deal. The question is who should lose money on this deal: (1) the borrowers and lenders who made the bad decisions in the first place, or (2) those taxpayers who managed their money wisely. It looks to me like Congress has chosen.

19 posted on 09/29/2008 8:37:04 AM PDT by MathDoc
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To: johncocktoasten

Wha- ???

Say it ain’t so!! Congress using tax money to bail out
more failed businesses and the taxpayers get a screw job!!??

In other news, the sun still rises in the east and scientists have determined that water is still wet!!


22 posted on 09/29/2008 8:49:30 AM PDT by DustyMoment (FloriDUH - proud inventors of pregnant/hanging chads and judicide!!)
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To: johncocktoasten
Community Organizer Barack Obama's rallying cry was

A chicken in every pot
A car in every garage
and
Un-affordable housing loans for every deserving American.

28 posted on 09/29/2008 9:12:53 AM PDT by syriacus (Under Bush, Dems controlled the Senate for MOST of the 107th Congress and for ALL of the 110th)
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