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Some banks should be allowed to fail, say two top Republicans [McCain, Shelby] [Citigroup]
CNN - Political Ticker ^
| 2009-03-08
Posted on 03/08/2009 1:27:14 PM PDT by rabscuttle385
WASHINGTON (CNN) Two top enate Republicans said Sunday that banks shouldn't be able to count on any more bailout money and that the federal government should let some of them fail rather than distribute further funds to keep them afloat.
. . . . .
Former GOP presidential candidate John McCain told Fox News Sunday that he did not think President Obama "made the hard decision, and that is to let these banks fail." He did not call for nationalization of troubled financial institutions, which many Republicans oppose, but said their assets should be sold. "Unfortunately, the shareholders and others will take a beating," he said.
(Excerpt) Read more at politicalticker.blogs.cnn.com ...
TOPICS: Business/Economy; Government; US: Alabama; US: Arizona
KEYWORDS: 111th; bailout; bankfailure; citi; citibank; citigroup; economy; fedreserve; financialcrisis; mccain; mccaintruthfile; rabscuttletruthfile; senate; shelby; trollsonparade; ussenate
To: stockpirate; ChrisInAR; AvOrdVet; MaggieCarta; indylindy; roamer_1; calcowgirl; djsherin; ...
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The Juan McCain Truth File. "I have great respect for Al Gore." John McCain, October 2, 2008 FR Keywords: mccaintruthfile, mcqueeg, mcbama Please tag all relevant threads with the aforementioned keywords. This can be a very high-volume ping list at times. To join the ping list: FReepmail rabscuttle385 with the subject line add mccaintruthfile. (Stop getting pings by sending the subject line drop mccaintruthfile.) Republican Commissars Warning: By joining this ping list, you may be subjected to the delusional rants and ramblings of McCainiacs, of "moderate" Republicans, of pragmatic conservatives resigned to voting for the lesser of two Democrats, and of countless GOP shills who simply want to meet a new overlord. |
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2
posted on
03/08/2009 1:27:43 PM PDT
by
rabscuttle385
("If this be treason, then make the most of it!" —Patrick Henry)
To: PAR35; TigerLikesRooster; AndyJackson; Thane_Banquo; nicksaunt; MadLibDisease; happygrl; ...
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The Money, Banking, and Financial Markets Ping List. "Money, not morality, is the principle commerce of civilized nations." Thomas Jefferson FR Keywords: moneylist, bankinglist, financelist Please tag all relevant threads with the aforementioned keywords. This can be a very high-volume ping list at times. Ping list jointly pinged by rabscuttle385 and TigerLikesRooster. To join the ping list: FReepmail rabscuttle385 with the subject line add moneylist. (Stop getting pings by sending the subject line drop moneylist.) |
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3
posted on
03/08/2009 1:28:11 PM PDT
by
rabscuttle385
("If this be treason, then make the most of it!" —Patrick Henry)
To: rabscuttle385
should let some of them fail rather than distribute further funds to keep them afloat. Strangely, I have been saying those same words about McCain since last July or so...
4
posted on
03/08/2009 1:35:35 PM PDT
by
bill1952
(Power is an illusion created between those with power - and those without)
To: rabscuttle385
Two top enate Republicans said Sunday that banks shouldn't be able to count on any more bailout money and that the federal government should let some of them fail rather than distribute further funds to keep them afloat. They damn sure should not be allowed to have a 100% payment that has been going on with AIG. But as usually mccain is late to the party, did he stop his campaign again?
5
posted on
03/08/2009 1:38:56 PM PDT
by
org.whodat
(Auto unions bad: Machinists union good=Hypocrisy)
To: rabscuttle385
Let’s see what McCain/Shelby want - everyone with deposits should stand in line Monday and take their money out of Citi. Are they for real?
6
posted on
03/08/2009 1:40:04 PM PDT
by
ex-snook
("But above all things, truth beareth away the victory.")
To: rabscuttle385
The Federal Government should be allowed to fail... wait... it already is!!
7
posted on
03/08/2009 1:42:51 PM PDT
by
DTogo
(Time to bring back the Sons of Liberty.)
To: ex-snook
Lets see what McCain/Shelby want - everyone with deposits should stand in line Monday and take their money out of Citi. Are they for real?McLame's lap dog, Grahamnesty, was calling for nationalization of the money center banks just recently...so yes, they are for real.
8
posted on
03/08/2009 1:42:55 PM PDT
by
rabscuttle385
("If this be treason, then make the most of it!" —Patrick Henry)
To: rabscuttle385
Would it be so bad?
Right now we are propping up all the banks that were poorly run, giving them an unfair advantage in the mkt place at the expense of well run banks.
9
posted on
03/08/2009 1:48:34 PM PDT
by
wmfights
(If you want change support SenateConservatives.com)
To: rabscuttle385
"McLame's lap dog, Grahamnesty, was calling for nationalization of the money center banks just recently...so yes, they are for real. "Don't know what you think but if Citi, et al, were not allowed to play PACMAN and acquire so many banks [with toxic loans, etc.] and get so large, we could have avoided today's crisis. A case of 'economy of scale' mergers having a negative effect.
10
posted on
03/08/2009 1:54:53 PM PDT
by
ex-snook
("But above all things, truth beareth away the victory.")
To: ex-snook
The FDIC is now providing unlimited insurance on checking accounts and up to $250,000 on savings accounts, so most people are safe.
11
posted on
03/08/2009 2:11:29 PM PDT
by
Arguendo
To: rabscuttle385; Toddsterpatriot; SAJ; LS; jveritas
If you don’t kill the zombie banks, airlines, retailers, and car manufacturers first, then those zombies will suck the life out of all bailout and stimulus spending.
Sequence matters. Kill the zombies...then...and only then...engage fiscal stimulus and bailouts.
An easy-to-understand example is with airlines. Instead of being liquidated, zombie airlines are being allowed (by weak-minded bankruptcy judges) to operate under Chapter 11.
This gives those failed airlines a temporary, competitive edge, cost-wise, to compete against viable, well-run airlines (e.g. SouthWest). In this manner the zombie airlines steal seats/passengers/revenue that would otherwise be filling the aircraft of well-run airlines.
And the longer that you prop up those zombie airlines, the longer it takes to see any meaningful profits in the overall airline industry.
But if you kill the zombie airlines, the survivors will fill their planes and make a killing. Profits will zoom! You’ll get new hiring and solid dividends paid to shareholders.
So sequence matters. You can’t expect a quick, potent recovery while you are propping up zombies. Kill the zombies first, however, and then the recovery will be faster and more robust.
12
posted on
03/08/2009 2:19:30 PM PDT
by
Southack
(Media Bias means that Castro won't be punished for Cuban war crimes against Black Angolans in Africa)
To: ex-snook
13
posted on
03/08/2009 2:20:33 PM PDT
by
Southack
(Media Bias means that Castro won't be punished for Cuban war crimes against Black Angolans in Africa)
To: Southack
There is much temporary sense in what you post but I’m unable to see the long range advantage of a Darwinian view when the end result is the concentration into fewer and fewer organizations. I prefer breakups rather than growing a stream of ‘too big to fail’ in banking, airlines, automobiles, newspapers, TV, et al. Competition is good. Monopolies are bad.
14
posted on
03/08/2009 2:46:40 PM PDT
by
ex-snook
("But above all things, truth beareth away the victory.")
To: rabscuttle385
Two top enate Are they talking about two senators actually being born human, as opposed to 'The One' who was spawned from his father?
15
posted on
03/08/2009 3:37:42 PM PDT
by
Krodg
To: rabscuttle385
16
posted on
03/08/2009 5:30:54 PM PDT
by
GOPJ
(Obama needs adoration to prop up his empty suit. He's open to manipulation by professional thugs.)
To: rabscuttle385
With Citi trading at less than a buck, I think it has already failed! What difference would bankruptcy make? The equity is gone!
17
posted on
03/08/2009 9:19:47 PM PDT
by
April Lexington
(Study the constitution so you know what they are taking away!)
To: rabscuttle385
Hey politicians and leftists....
To: rabscuttle385; bill1952; org.whodat; ex-snook
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