DISQUS

HG · 1 year ago

I'm reading the headlines of all the Corporations running to government for our money and thinking this is it, we've finally crossed the line. Boy have we got a political fight on our hands.

The Whistler · 1 year ago

So I guess all of us that were against the bailout are still wrong?

WOOF · 1 year ago

[quote]American Express (AXP) -- a credit card company which, last I checked had little or no exposure to mortgages -- is now a bank, for the sole purpose of tapping some of that free money. The thinking seems to be, "Big pile-o-cash? Gots to gets me some of that!"

Like hyenas trying to steal the kill from a lion, the mere scent of this enormous pile of loot starts attracts the scavengers. They cannot help themselves, for it is their essence, and who they are.

Just as the dreaded 17 year locust devours all before it, so Lobbyists too, are swarming the capital. Never before has a trillion dollars been authorized so quickly. Never before has so much money been spent with so little oversight, controls, or transparency.[/quote]
http://www.ritholtz.com/blog/2008/11/why-bailou...

Kevin · 1 year ago

Gaylord Conrad and Little Lord Pomeroy were wrong?[IMG]http://i35.tinypic.com/2ztjzn7.jpg[/IMG]

The Whistler · 1 year ago

What scares me is that Byron was right.

[IMG]http://i37.tinypic.com/1960eh.jpg[/IMG]

sc · 1 year ago

What ticks me off is that nothing is said about how we got into this mess. Most do not about former President Clinton's Pilot Program (social engineering) to get millions of poor people into housing and by doing so had to lower the standards/regulations in this subprime market. Twenty four banks, along with fannie mae, participated. It was a bad plan, bad results, and bad for the 401k.

Kevin · 1 year ago

Don't forget Jimmy Carter's Community Reinvestment Act which forced banks to give mortgages to slackers![IMG]http://i34.tinypic.com/148bhs.jpg[/IMG]

eneils Bailey · 1 year ago

No politician or Cabinet member in Washington went into solving this problem confessing as to the real root of the problem.

The democrats promoted it, the Republicans denied it for the risk of being labeled something other than honest.

[quote]The bailout not working? We are all shocked![/quote]

Shocked! DAMN YOU,,,All you dishonest and gutless politicians in Washington should be....

All of you politicians are shameless pieces of shit.

julzzz · 1 year ago

hows this for an idea on the bail outs. since it is OUR MONEY (tax payers) GM says it will fail if they dont recieve a helping of bail out pie, how about we the people ASSURE them that they will fail if they dare take what the PEOPLE said they can not have. we garantee we will not buy your vehicles. if we refuse to buy what they sell, THEY WILL FAIL. our voices are loud and are still ignored by our leaders. the bail out will do them no good to stay in busines if we do not buy what they sell. if they take that money againt our will, they do not deserve our patronage ever again. they betrayed the people.

RebTex · 1 year ago

SC
Others don't know that obama sued to get the undeserving the extravagant loans.
http://www.mediacircus.com/2008/10/obama-sued-c...

sc · 1 year ago

rebtex: Thanks for the website. I remember hearing very little about this as well as the Clinton Experiment that blew up.

The (search internet) 1999 NY Times Article "Fannie Mae Eases Credit to Aid Mortgage Lending" by Steven A Holmes pretty much spells out how the housing subprime got started. If you are a Dem, you may not want to go here, it may enhance your knowledge too much.

robert108 · 1 year ago

When the market dropped the day the House approved it, the bailout was a failure. The market responds positively to good news, and negatively to bad news. This is a one-two punch: socialist bailout, socialist President-elect. Without those two, the market would be well into recovery by now, with the good firms buying up the bad ones. Socialism produces the exact opposite. The more investors fear Obamunism, the worse it will get.

goon · 1 year ago

So why are we spending all of this money then? This doesn't make sense.

Rabid American · 1 year ago

[b]DUH!!![/b]

He came out speaking like his hair, rather our hair, was on fire and NOW we can't know where the money went, can't start to affect any obstruction to recovery, and NOW this asshole says "It's not working".....

It's amazing, how this couldn't wait until after the election....

Are there any people left who can't see that this was a ginned up "crisis"? At a minimum it was over-hyped for effect.....

[IMG]http://i35.tinypic.com/igvhb4.jpg[/IMG]

Gman · 1 year ago

Arrest all involved and through them in Debtors prison until they pay off the bailout. It worked in the middle ages.? Maybe not.

I still think that they should have ixney'd the capital gains tax, and cut the corporate tax rate in half. Then put a moritorium on forclosures to the end of the year and let the lenders sort it out.

Always use incentives to get what you want.

Jimma Caaata, is to blame for every modern age problem that we have.

The mortgage crisis tied to the Community Reinvestment Act.

The War on terror tied to the Carter administrations dumping of the Shah of Iran and failure to go after our people held hostage in Iran.

The energy crisis then and now to the lack of drilling for oil and his listening to the environmentalists. This lead us to the problems that we have with oil, nuclear, and coal.

The Obama election can be tied to him in some way, I am sure, but I can't think of it right now. :-)

Zsa Zsa · 1 year ago

Really, I wish I knew more about the options available to Paulsen, Bernanke and the FDIC chick (Bair) when all this started. Surely there were better ways to ensure that the banking process didn't freeze up than this? Why were investment houses, with the exception of Lehman Bros, Not Allowed to Sink? Just because Paulsen is a Wall Streeter? To save the investment of the Saudis and the Chi-Commies? What a Stinky deal! Wouldn't the much larger commercial Bank Sector have kept Credit and Money flowing regardless? It is sickening to see these large Publicly Traded companies maneuvering for their share of the pie. Can you believe that President Bush is Slammed as a Conservative? A conservative solution would have been to allow the Market to Cleanse the System severely but quickly. I am afraid this is going to drag out for a long, long time...

di butler · 1 year ago

I love how Paulson convinced Bush that we HAD to have the 7 bil bailout, ASAP, or the whole market was going down the toliet immediately. So Bush goes out, says we had to have it, so after fighting over it, when end up with more crap tied onto it, and lo and behold, even though the market has been up and down like a jumping bean, none of the money has even been spent to bailout the housing mkt. yet, and now Paulson says we've got to change the plan. How can anyone make this make any sense?

RebTex · 1 year ago

Think back a year.
Remember the outrage as chavez started nationalizing & federalizing?
Here we are stepping into the same canoe & headed down the same river.

pcND · 1 year ago

[quote]What scares me is that Byron was right. [/quote]

Dorgan is starting to make Conrad look stupid.

robert108 · 1 year ago

ZZ: Credit didn't "freeze up", only the big banks that got caught up in the Dem social engineering mandates did. Small banks that continued to follow sound lending practices were, and are, doing just fine. This "crisis" was overhyped and wrongly blamed on President Bush(like they blame him for everything) so that Obama could win the election, and to facilitate the nationalization of our financial and other markets. Now, they want to nationalize our auto industry, and are eyeing the credit card companies. They also want to own peoples' homes. This is how FDR used the Crash of '29 to introduce his commie New Deal, and the lefties are just doing the same thing now. In the same way that FDR turned a bad recession into the Great Depression, Obamunism is trying to turn a slight downturn into another socialist takeover of our economy. Look at how the market has done since the bailout and Obama's victory.

Zsa Zsa · 1 year ago

Robert108, Yikes! Did Paulsen sell the President out? In hopes of a job with Obama? OR because he is a Investment Banker, did he just see everything through that perspective? You are so right about the Stock Markets, they will not recover until we turn away from all this foolishness!

goon · 1 year ago

Anyone notice the Stock Market hit the crapper since the Dems took over the House and Senate the left blames Bush. So what's going to happen when the stock Market continues to slide under NOBAMA? I don't see it getting better.

The Whistler · 1 year ago

pcND:

[quote]Dorgan is starting to make Conrad look [i]even more[/i] stupid [i]which didn't seem possible[/i].[/quote]

Fixed your post for you.

Neiman · 1 year ago

[quote]Anyone notice the Stock Market hit the crapper since the Dems took over the House and Senate the left blames Bush.[/quote]

If this continues and I think it will, then we are seeing the beginning of [b]The Obama Depression[/b]. He is taking ownership of this economic crisis and he will make it worse, with as Newsweek predicts, four years to climb out of the crapper.


Anyone facing Capital Gains should get out now or lose a bunch of money!

di butler · 1 year ago

My hubby, who is definately not a conspiracy theorist was watching tv w/ me when the whole deal 1st went down. After Bush spoke he turned to me and said, " They planned that well." I said who? The liberals? The stock market? The white house? He said, "Whoever wanted this to come to a head right now manipulated the situation.It was a powder keg and someone puposefully lit a match to it so it would blow up now." I was highly doubtful, but now, it makes a lot of sense. I think Bush was used as a pawn. He trusted Paulson and Bernanke, and I think they lied to him the whole time.

Ruffslut · 1 year ago

Blaming Jimmy Carter?
No wonder we are so fucked.
Americans listening to rush asshat and fauz news are so brainwashed and thus, very clueless.
Leverage allowed by the FED and pushed by paulson with full republican support has caused the beginning to the end of the empire.

robert108 · 1 year ago

[quote]Leverage allowed by the FED and pushed by paulson with full republican support has caused the beginning to the end of the empire.[/quote]

An outright lie; the blizzard of bad paper was produced by the Dem affirmative action home loan mandates, started by Carter and increased by Clinton. We finally got the bill for the wasteful Dem social engineering. The timing of this event was calculated for maximum effect to defeat Republicans in this election.
What's bad for America is good for the Dems.