Damn they must really suck to get fired twice in a month....

 

We should start a pool, I'd put money that we don't see bottom until about 3500 on the DJIA




I remember one point in econ class when they talked about policy and government intervention, how this leads to that and so on, but in the end "we are all dead anyway".

Economics is pretty much sh** science anyway



well that is one alternative....

 

I have a huge nest egg waiting for the 3500.... What ever is left standing I'll buy.. They at that point seem to know what they are doing.. So I'll buy their stock..

I think we should just let this **** drop, Least then we will cut out a few months of watching it sink slow.

So as we hit bottom we can then dump money and rebuild.

 

++++1000000

and after the hangings, better regulation. funny how after this all went down you hear about all the people that were blowing whistles about it but nobody listened to them.

but hey, in case the bailout doesnt work, lets just throw more tax cuts at the problem, thats always worked in the past right???

 

+1000000000 for good old killin'. F' spending our dollars putting them up in some golf resort prison for ceo's. Cheaper, and more effective for scaring any would-be execs wanting to follow in their footsteps. Plenty of gun carriers on i-crub. Let's make with the firing squad.

 

totally agree..

giving money to them in the first place was dumb, let alone giving them more.
it's like repairing a sinking ship to prolong its sinking process.. just for it to sink eventually before it makes it back to a safe harbor.

no point in prolonging the inevitable when it's coming out of our pockets. let the FDIC pay them out, and let's count our losses now while they are still... reasonable? not sure that word applies so much anymore.

 

we are a republic, not a socialist country... if you cannot stay a float, then you need to sink. but either way welcome to the new USA... aka the USS... united states of socialism.

 

Glad you responded Pete. One thing in that video they didnt address was the fact thet there WERE responsible banks that saw all of this but their own investors would see the profit the other banks were claiming (hypothetical) from these toxic assets, and the investors were asking, why arent you showing these same returns?? even though they didnt understand the real risk those others were taking on! so just to stay competitive alot of banks and IB firms HAD to follow them down this monkey-see monkey-do route and hope for the best or else wave bye-bye to they're investors. this is where government regulation WORKS. I dont care what those 100% free market cheerleaders say, what we have here is EXACTLY what happens when you have a laissez faire economy. The free market only adjust reactionary,when its too late and now you have to fix the mess they caused.

 

Control my bank.....
Control my House
Control my wife
Control my what ever

Just keep your government hands off my car and whats under the hood...

 

Who's gonna be the next Madoff?

 

who'd you vote for again?

 

Wouldn't have mattered who you voted for. The process was already rollin', the president wouldn't have made much of a call. The treasury is there for somethin.

 

in this case, I dont think any sides got it right, regardless of whos prescription you subscribe to. We've been riding on trickle down economics and Greenspan's policy of lower interests rates since Regan (yes Clinton's guilty too, Im not targeting) where lower interest rates and lower taxes will solve everything, but it just led to a debt-culture thats based on imaginary assets.
During the first sub-prime mortgage/credit crisis bailout last year under Bush where we basically dropped money out of a helicopter over wall street to get them to loosen up their lending, we just 'hoped' they would pay us back. I thought, well if we were just going to throw away (literally) $700B why not just start a fund for these folks that are about to default on their sub prime loans to pay back their mortgages for a year or two. that way, people stay in their homes, property values dont drop due to foreclosures, and the banks still get their money. yes it still sucks in the short term, but if we've already committed to bailing out anyone at any level, why wouldn't it be the homeowners? The way its set up now, only the banks get any protection.

In fact, Ive heard alot more animosity to people that are going to default getting relief than the big banks that are already getting relief, and I can only assume its because regular people can relate to other people like them getting something for nothing than these big banks getting it that is just as bad but they really cant get their head around it because giving money to the big companies for nothing just "sounds okay I guess" but its the same goddamn thing!!!.

Seriously, its all bad, and to a certain degree, its going to take some spending to get us out of this AND tax relief. But it wasnt high taxes that got us into this, and tax cuts wont get us out of this, we need to have more regulation and oversight of our banking/finance industry. like I said before, the biggest problem with our laissez-faire free market economy is that all adjustments are reactionary, not proactive. Problems arent ironed out subtly and progressively as things progress, but only after all hells broken loose and it needs to get bailed ot before it goes belly up. I dont care what any of you free-market heads say,
THEY ARE NOT RESPONSIBLE ENOUGH TO REGULATE THEM SELVES, THEY NEED REGULATION!!!!

 

BTW, Im not sure where you were going with that with greg, but he's a single-issue voter like you so I know he didnt vote for Obama

 

I can tell you I am not happy with people when they have to get bailed out of their house loan. They knew the risk when signing for it.

So all us home owners that pay on time should default and have our uncle pick up the tab.

I think all this home owners and bad companies..... You pay to play.. You want to play..... Then you need to pay.. If paying means failures and loss of house or bankrupt? Well thats your own fault for putting yourself in that spot.
95% of us know right from wrong! You chose wrong.... I dont want my tax money bailing your *** out.