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Posted on 09/27/2008 7:07:30 AM PDT by SE Mom
Thank you for that lucid explanation!
I’m just reporting - I have no idea when it will be voted on.
The president could be right. But if he is, why the urgency? If the vast majority of people will repay their mortgages, why not let the market sort out the rest? Why the $700 billion?
Yep.
What does that tell you?
Yeah, I was just agreeing with you. I wonder why I made it sound as if I had a dissenting opinion.
Democrats caused this crisis. Even Bill Clinton said that he and the republicans tried to pass reform but Democrats didn’t want it.
I want to hear Senator McCain mention on every stop how Obama has spent a million dollars a day on pork for every day he's been in the senate.
Bookmark to your post #104. Thanks for the explanation.
The liberals did the same thing to President Reagan. I think they bashed him more than President Bush.
Ok Bush is lying.
Banks will give loans as long as they have money on deposit. They can't make money without making loans. That is how they make money.
As long as there are banks, there will be loans.
Suddenly I'm against this whole thing.
The problem is that loans in the future are going to have to have something backing them... like collateral. IOW there were be no more 100% t0 125% mortgages. There will be no more teaser loans. There will be no more 100% car loans.
IOW, people will have to borrow money like they did 20 years ago.
Oh the Humanity!!!!!
Damn straight. It was the demonizing of lending corporations and instituting housing welfare that got us into this mess.
The govt. produces nothing, then squashes those who do produce for people that can't take care of themselves and can't repay their obligations.
Well, that's a damn fine plan, isn't it?
Yes indeed! That would be a very good thing for him to do.
I don't like the Chinese regime or trust its intentions. But at least trading with them provides the benefit of cheap goods and frees up disposable income for its many customers. Wal-Mart did what it was supposed to do.
Compete.
What the govt. is doing here is market sabotage. They've taken the profit motive out of the lending industry and the whole damn credit system seized up, threatening our entire economy.
That was just brilliant. The Democrats succeeded where our most ruthless enemies couldn't.
“In order for the market to recover, there has to be a temporary downturn. Not a recession, necessarily, and not “panic.”
True, but how do we prevent panic in a system that is largely emotion/perception driven?
This is a little off-topic, but I tried 3 times to send this link to everyone in my address book, and each time it not only took out the e-mail with “Page cannot be displayed” message, but did not save the link in the draft when I tried to resend!
I figured out how to get around it, and maybe I’m a little paranoid after this Missouri crap, but folks, this IS WAR!
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"Hey boys, Moses has been up on that hill an awfull long time, I think he and his god are dead up there - so lets just make our own. How bout we throw this gold into the fire and see what comes out?"
you’re correct. One exception - WoT and Iraq
Here’s the problem I see with W’s position...before I get into that, I’m willing to cut him some slack. This is a problem the Dems started, Bush went to Congress 17 times to reform Fannie/Freddie and the Dems blocked it every time. I believe that he believes something drastic must be done. That sais, the bailout plan is not it. I wavered for a while, but not only do I now think it is not needed, the markets have also spoken and agree.
It was already well known by Thursday night that the bailout plan was in danger of falling through. I believe in the theory of efficient markets, so the reaction of the markets to this potential would, by definition, be priced into the securities and in the credit markets on Friday. So what happened? Did the market crash, as Krauthammer predicted? Well, he really ought to stick to his forte, foreign policy, because not only did the market not collapse, the DOW (all big-caps) was up over 100 pts. and the credit market actually eased by a couple points (T-bill yield was up to .83 return, a fair improvement over the .72 the day before). Now that’s still extremely tight, but it was not in negative territory as it was last week and it continued to improve throughout the day.
So in other words, the markets themselves have already indicated that they can withstand the crunch. And, in fact, I’ve read several sources who say that no bailout could result in a 1,000 point drop in the Dow. I thought to myself—that’s it? I was being led to believe we were talking Great Depression. A 10% drop and we’re supposed to spend $700bn for that? That’s absurd—that’s not even as big a drop as it was after the dotcom bust.
I’m now inclined to think that the doomsday scenario, while possibly still a legit “worst case” is really very unlikely and the worst we’d weather is a mid to deep recession. I think we can handle that without having a socialist takeover of the credit markets. McCain has really been so non-committal so far, I am worried he migth cave on this. His statements last night was very equivocal and, to many, sounded like he favored the bailout. That has to change by Sunday night. I can live with a mixed Cantor/Paulson plan that Kudlow has suggested, but a total buyout of distressed securities is simply not necessary at this point.
Shame on you Tublecane.
Can't you get with the program? Everything the (Dem controlled) Congress and (GOP appointed) Treasury and Fed have done is to get you to borrow! Borrow! BORROW! and spend! Spend! SPEND!
What? You say you want to keep your money in a safe, long term investment???
WE'LL SHOW YOU!!!!
ZZZaaaappp!! Interest rate cuts!
ZZZaaaappp!! Tax small savers at the highest income bracket!
ZZZaaaappp!! Stimulus packages to goose inflation!
ZZZZZZZZAAAAAAAAPPPPPPP!! How about a $700 billion debasement of the dollar??
Got the picture yet? Bad savers!! BAD!!!!
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