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You stupid mother ers. Almost every single credible economist in the nation is conceding that nationalization is about our only option. The banks are ing insolvent people. Do you not ing get that? God, you ing republicans are so ing dumb. !
When I heard the bull the administration people were spewing Saturday I knew the market was gonna take a crap today...investors have lost all faith in this administrations ability to govern rationally.
I wouldn't be surprised to see the Dow in the 6's before it closes today.
You stupid mother ers. Almost every single credible economist in the nation is conceding that nationalization is about our only option. The banks are ing insolvent people. Do you not ing get that? God, you ing republicans are so ing dumb. !
who's the stupid mother er? Obamas idiots are saying they AREN'T gonna nationalize. They are just gonna keep pumping in good money after bad.
Of course Citi and BoA are insolvent. I say shut the damn things down, pay off the depositors and put their asses in bankruptcy and let the creditors fight over the scraps.
This is really what I can't understand. Why the can't we just let the banks go already....when is enough enough.
...when election cycles arent determined by looks/race/gender.
Politicians of the day are scared less for their jobs, so theyll do and say anything in an attempt to look like they did something for re-election purposes.
Just my opinion. The right thing to do is the least politically advantageous...therefore it doesnt get real consideration. Congress has an albatross around its neck right now and theyll pass anything in an attempt to ring it around someone else's.
I think thats treasonous, but what the do I know? No, instead lets promise trillions of future revenue backing a broken banking system. Yeah, thats going to change everything, Im sure.
Bankruptcy, severe recession, mild to high inflation...right into equilibrium and stability in less than 5 years.
No, stupid idea. We need BoA and Citi, dont you know? Too big to fail!
More like "too high a cliff politically". It all comes down to transparency and frankly, no one (save Ron Paul) is willing to admit we're straight ed. I truly dont understand their rationale in all this...it would seem their current course of action is a far worse fate politically speaking than the alternative.
But they either a) dont know any better, b) do know but wont take the risk or c) do know and dont give a .
Odd to say the least.
I see all this ending in a couple of decades with the implosion of the U.S. government due to insolvency, and the beginning of bloody, devastating wars between the successor states over control of resources (though the leaders on each side will sell the wars as settling scores against the "traitors" who "caused" the collapse).
This nation has been all about the short term with no regard for the consequences for 30 years. Why would it ever change now?
Yesterday I bought S&P calls . . .
I cannot believe how ing stupid people are. The Glass-Steagal Act essentially prevented banks from speculating in the stock market. When it was repealed in a bipartisan 10:1 margin in 1999 it opened the door for banks to once again speculate. As a result, we saw dividend ratios skyrocket because a whole new sector of demand entered the market.
Well now that the banks have gone to that entire sector of demand is gone. What happens when demand drops? Thats right morons, the price drops.
Seeing that both parties passed the repeal by a 10:1 margin you are essentially being stupid and allowing party positioning rule what you think is true. Here is a hint, if a politician or their mouthpieces like Miller or Hannity claim something then try and find a different source.
Did you guys not see what happend when they let Lehman go down? Letting Citi or BoA - who are both much larger than Lehman - fail in that manner is simply not an option unless you want to see the world financial systems simply disintigrate.
I wish they would nationalize and I think the administration is throwing money away because its the inevitable end. But letting the banks fail is not even a realistic option.
My son and I will join up when we pursue an anti-california agenda.
Arizona Bay.
Well, since hardly one of those "credible economists" predicted this fiasco and most of them applauded while the FED sold this country's future to china, I'd say most of these "credible economists" are RE ED and don't know their head from their assholes.
Any "credible economist" who concedes nationalization, IE the government getting in the way of the natural cycle of the economy, is a complete and utter dumbass.
The very fact that Hilary Clinton had to go and BEG the Chinese not to throw our country under the bus tells me something is wrong with the conventional wisdom of the mainstream economist's handling of the economy.
They do love their monetary policy though and they'll be damned if they're proven wrong now.
Last edited by angrydude; 02-24-2009 at 12:31 AM.
By pursuing this course of action they are ensuring that the entire economy disintegrates a couple years down the road. I give it at most 8 years until we have to do this all over again. Will the world be so generous then?
The problem with Russian roulette is it all seems like harmless fun till you blow your face off.
Money is freaking paper. That's all it is. This bailout changes nothing. Our system is still unsustainable. The fact that the Chinese are only buying treasuries because they don't have anywhere else to put their money should send shivers down your spine. What happens when they do find a reasonable alternative?
Goodbye good times.
Blame Obama for the plunging Dow. The people on Wallstreet have no confidence in Obama's economic policies.
The above post is for you. Moron.
looks like AIG cant handle it if all the banks go broke....
might as well withdrawal all funds and pull a runner....
Lol should invest into gold stocks, supermarket stocks, energy provider stocks and maybe communication service provider stocks......these are the guys look like immune to all this , cause they provide alot of everyday basic human needs.....and ppl will just continue to spend there...
back to the insolvent companys....no point in pumpin more money in nationalizing these tools when they still have incompetent people running the business on the board or any level of management. why buy back debt of infrastructure when they have devalued so much and not makn a profit at all....
I wonder how many supporters of “Bail out Nation” ever even heard of Lehman Bros before their collapse brought on by their reckless behavior….
Such passion and on such the wrong path. It's a shame.
you , dip !
Damn. Dropping like a rock. Down 2%+ in the first 30 minutes to 6900.
There is no such thing as too big to fail, look at the collapse of companys during the last 15yrs who were trading while insolvent till caught. Its fukn simple, let the bad eggs disintegrate in the market. Only the successful company's with good books will come in and expand taking over the bad eggs market share. Govt can always imposed stricter regulation guide lines, for these new players so it wont happen again down the road.
Reason why i see the govt wont allow AIG + BOA to go bankrupt cause they already have a huge share in those company's invested so much bail out money now worth nothing, geared with the decreasing value of backed assets. IMO they should pull out and sell up their share and invest in a company thats going to absorb the take-over market share of these so called bad eggs.
im surprised the US$ is not deflated towards other currencies....all the govt is doing printing money nothin else.
if we let these banks fail, it's over.
there has to be at leasts a few small banks doing well...i say ppl should start pulling out their funds and depositing it into these banks to build up reserves and equity, with govt backed up buyin a share nationalizing a bank that currently has no debt on its books. These small banks will just take up market share and start expanding and employing people.....
small banks can't provide the huge, daily operating cost required by large corps.
you have to focus on the big picture.
and by the time the govt. could back some of these banks, these companies would have already flatlined.
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