I hate to say it, but we don't deserve a bailout...

 

I wonder what repercussions this would have in terms of political and economic leverage and respect for US...Would this not be the biggest nail in the coffin as far as being the "most powerful" country?

And if we are indeed in need of outside foreign aid and assistance, does this make us 3rd world county all the sudden?

 

Oh yeah...and lets not forget many individuals from those areas participated and bought many of the credit default swaps that are worthless right now. I do not anticipate them to have a rosy attitude towards that outcome. Now, they are being asked for money on top of those investments? If this request has any merit and will actually gain traction, I do not even want to think about the terms, conditions and fine print of that transaction.

 

America just accidentally the economy. The whole economy.

 

I guess this does not help either...

http://www.nytimes.com/2008/11/24/bu...k.html?_r=1&hp

"Federal regulators approved a radical plan to stabilize Citigroup in an arrangement in which the government could soak up billions of dollars in losses at the struggling bank, the government announced late Sunday night.

The complex plan calls for the government to back about $306 billion in loans and securities and directly invest about $20 billion in the company. The plan, emerging after a harrowing week in the financial markets, is the government’s third effort in three months to contain the deepening economic crisis and may set the precedent for other multibillion-dollar financial rescues."

 

Well, I just bought 50 shares of GM and 25 of Ford... they're both down 95% from their highest value in recent history. One day if they get bailed out and it goes up it could be worth something. It's risky, but was only about a $250 gamble that may yield thousands some day... who knows... may yield nothing

But with talk of the 16 million beginning bailout, I'd rather buy now and not regret thinking about it.

 

Hell yeah. Low risk and a potentially moderate yield. I think it's a good idea.

 

Been thinking it over. But personally I don't see them surviving anyways. By 2011, they will be gone.

 

possibly, but worth a $300 bet? i think so... it's not that much money and it has the potential to yield a good amount.

have you been investing in anything right now Gagan?

 

so says the all knowing sage of big business...

they'll be around for a long time. my prediction is these LOANS get paid back, on time, and the big three show some significant signs of improvement.

 

I agree. They are already well on their way if they can make it past the next 5-6 months. (well maybe not Chrysler) And people should really hope that that doesn't happen. What happens if we find ourselves in a real war with the need for immediate manufacturing to support that effort? With someone like China? How soon we forget what companies like Ford and GM did for this nation during those World Wars.

I also find it absolutely comical that people like Senator Chris Dodd can call for someone like Rick Wagoner's ouster in exchange for taxpayer help. The same Senator Dodd who is the Chairman of the Senate Banking Committee, someone that has earned the nickname of Pac-Man for the money he takes from the financial institutions he is supposed to be regulating, and had no qualms about issuing a bailout of 700 billion to the industry leaders that line his pockets and campaign funds.