Posted on 10/13/2008 1:19:02 PM PDT by Pantera
PARIS (Fortune) -- First you mess up the world's financial system. Then you blow the rescue of it. Now let's show you how to do it properly.
That, in a nutshell, is the less-than-flattering message European governments are sending to the U.S. as they mount their own gigantic bank bailout. The plans, announced Monday after two weeks of dithering, involve Britain, Germany, France and some others recapitalizing national banks that require help, and providing state guarantees and other measures to kick-start the stalled credit market. The details are strikingly different from the U.S. approach adopted by U.S. Treasury Secretary Hank Paulson and the Federal Reserve Board. And there's a big reason for that: The Europeans think Paulson got it badly wrong, and have watched aghast as he failed to restore confidence in the world's financial system.
More at link...
(Excerpt) Read more at money.cnn.com ...
You have to admit, Nancy Pelosi and her gang did mess things up.
I may never forgive myself but have to admit the euroscum are correct.
Are they going to show us how to get 9% unemployment before a financial crisis?
McCain should state that this is a direct failure of Pelosi and the Banking Committee Chairs.
Let’s hope we unintentional taxpayer investors see a huge return on our money. We can celebrate by spending more on social programs like the ones in Euroland.
Maybe the are right. But heck, it seems like they just sat back and waited to see what the outcome of our bailout would be so they would no what to do. They weren’t offering up any better answers.
The Euros were waiting for us to throw money at them as a reward for them bad mouthing us all the time. Notice that the markets didn’t respond positively until they got off their butts and did something after America led the way.
I don’t think they will get any arguments from those of us at FR.
That said, they can bite me.
Hey euroweenies... Dow up 944.70 on the day... an ALLTIME record point gain. Hey europe... yo mamma wears combat boots! America is your daddy!
LLS
the = they; no = know
Dang toddler interfering with the proofreading.
Hey euroweenies... Dow up 944.70 on the day... an ALLTIME record point gain. Hey europe... yo mamma wears combat boots! America is your daddy!
LLS
Interesting Euroweanies. I as an American was surprised to know that Continental Europe had very limited FDIC like bank/checking account backup. The most, to my understanding was $20,000 Euros. This means that the Eurobanks were more heavily extended than American banks.
I think the markets have the U.S. written off as to be so heavily in debt that they would never be able to come up with the money for their bailout. That’s why the American bailout didn’t cut it.
OTH the Euros saying they guarantee the interbank loans injects real trust in the markets. This bailout works and drags the U.S. out of it as well.
Can't you see, its not hate, its disgust. Europe drags the world down.
I have to agree.
Most of Western Europe and the US have been allies for a long time, and while we have policy disagreements, and we’ve certainly drifted apart since the foundation of the EU, I get tired of seeing “Euroscum, Eurotrash,” etc (with the possible exception of the French, but that’s a personal failing on my part).
Fact is, we DID get the economic kick-start wrong, and while it’s not exactly a warm-and-fuzzy feeling to be second-guessed by Europe, it doesn’t make the opinion incorrect.
I, for one, would prefer more isolationist policies and a rebirth of our manufacturing infrastructure as well as domestically producing the bulk of the resources we use.
Sticks and stones and all that...I honestly don’t care what people in Europe say about us or our policies as long as they don’t actively interfere with us domestically.
There ARE conservative Eurpoeans...Many of them visit this site. Please try to remember that conservatism, morality, and fiscal responsibility aren’t uniquely American, and that there truly are allies out there (if we don’t drive them off or convince them that we really are boorish and ignorant).
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.
