Posted on 09/27/2008 7:07:30 AM PDT by SE Mom
Neil Cavuto said the president will be addressing the country shortly
(Excerpt) Read more at foxnews.com ...
He is liberal on some issues, moderate on some, conservative on some. To characterize him as "liberal" is too broad brush a statement IMO. In any event he has been a big disappointment to me and many conservatives. But liberal like Al Gore or John Kerry - no.
Spending spending spending
Jobs Jobs Jobs
Defense jobs
>>That is a pipe dream sold by the plan backers to stop the taxpayer opposition to this scam.
Pipe dream. Good choice of words - because a pipe is exactly what's being proposed; a credit pipeline.
The key words in the proposal:
"outstanding at any one time."
Clever language, indicating the 700 Billion is not a spending cap - but the limit, as you've pointed out, of a revolving credit account. The criminals could pump Trillions of dollars though the proposed pipe, 700 Billion dollars at a time.
The bankers have pulled the wool over W's eyes.
Clancy, these two sentences are contradictory. The economy needs some structural fixes, and I think some of that has to come from the government.
But, if you say that:
(a) "something" must be done, and
(b) the Paulson plan is "something",
I can agree with both of those without having to agree that
(c) the Paulson plan must be done.
One of the things that is really showing a disconnect is that between Paulson, Bernanke, and Bush regarding the pricing of the securities. Frankly, it doesn’t make any sense for the Feds to buyout securities at fire-sale prices, as Bernanke explicitly said on Wednesday. Then, that night, Bush said we would buy at low prices and the next day Paulson had whipped Bernanke back and they were again on the same page as buying at fire-sale prices. What gives? There’s been little to no discussion anywhere (but here) regarding this anomaly. Is it fire-sale or hold-to-maturity? The Paulson bill doesn’t even get into this, nor does the Dodd bill. Besides, fire-sale pricing also makes no sense because if there is an investment here, why aren’t the cash-rich investment institutions already buying this stuff up at the .20 or so on the dollar they are currently worth?
Something is not adding up. Bush, Paulson, and Bernanke are not on the same page. I’d trust Bernanke over Pauslon any day and I think Bush, unfortunately, has an obligation to side with his own Treasury Secretary, Paulson.
I agree. Duly noted.
Think about it. The Treasury is going to have their bright minds "evaluate" the prices of these complex mortgage tranches to ensure that you and I don't overpay for them.
Well, if the problem is that the banks won't loan to each other because "they don't know what their balance sheets are worth", why haven't those bright minds been hired to figure that out for lo, these many months already???
The answer is obvious. They already have a pretty good guess, but they don't really want to KNOW.
If they knew, they'd have to take the hit, and some of them are so suicidally leveraged that the hit would push them over.
Much better to have the values remain a Great Mystery until after Paulson buys the tranches.
Better for everyone except you and me, that is.
Yeah, that's a point I'd been wondering about -- surely there are ways to test a market evaluation of what these things are currently worth IF anyone actually wants to know -- it seems that the people who hold them are intentionally avoiding any sincere effort to determine the facts..... so they have an agenda that is not the agenda of the US taxpayer, for sure!!
Why should anyone listen to Bush?
Is he going to tell us that he’s better get $700 billion in unmarked bills by midnight or the world will end again?
It makes sense.
The Gov't is going to sell those assets back at some point.
Most will be at par or at a slight profit as the real estate market improves, reimbursing the debt incurring by the taxpayer.
The bankers have pulled the wool over W’s eyes.
And here is the seetener for the people who really keep this economy going...get rid of capital gains!
Lol, I was waiting for his lips to move! Good posting devolve.
>>What gives?
Smoke, mirrors...
“Pay no attention to that little man behind the curtain”.
Hmm, I think I’ve seen this somewhere before.
.
LOL!
I need to cut Q to 80% & size to 600x450 and then that could be a 2-framer that flashes MUCHO TAXES
What is “Q”?
Yes, that would make a good SS with the text.
Haven’t got to read the news yet!
“No kidding. He needs to go out with a bang...and tell them to shove it.”
He needs to stune their damn beebers!
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