Final Analysis. The RICH want the POOR to bail them out with $700B so they don't become POOR TOO!

[BigBearJohn]

Think I'm nuts?

Then tell me this....

When in history have the rich ever came
this close to losing their ASSES big time?

[Mnemosyne]

1. Best analysis so far, BBJ!

:applause:

Simple and to the point so R's could even understand it. :rofl:

Now I know what to have Mom tell my Cariboo Barbee worshiping sisters.

:hug::evilgrin:

[BigBearJohn]

3. big hug and a kiss to you my good friend.

[nadinbrzezinski]

2. Let me list them, since you asked

after Jackson left the WH... it led to a ten year depression

The GRANT depression also led to wide spread failures, why they are called ahem Depressions

Need I mention 1929?

Now under STRICT regulation we have had no depressions in 80 years, but then we had whole sale deregulation... and boy we find ourselves over the edge AGAIN... and yes... as usual some, more than just a few, will and already have lost their shirts

So hey... history can be instructive, as a country we've been here before... I fear though that folks really are not curious about what happened in the past... or why things repeat themselves using those wonderful patterns... of ahem, history.

[TahitiNut]

4. Except this time we have Social Security.

It'll be interesting. When the dollar suffers inflation, it leaves the fixed income folks behind even with the annual 'adjustments.' However ... as the dollar suffers DEflation ... well...

I'll be interested in seeing how the McCain campaign tries to leverage the seniors.

[nadinbrzezinski]

5. SHHHH, we also have the Wagner Act, the Sherman Antitrust Act

and a couple other depression era pieces of legislation, we REALLY don't need to reinvent the wheel... but our congress has no institutional memory... if they did... they'd realize the framework is already there, they just need to build on it

As to McCain... I think he will try and fail

[clear eye]

6. Right, but the saving the rich part won't work, and the ruin of the middle class will.

See my letter to my members of Congress:
Dear __________,

I am deeply disturbed at hearing Rep. Frank on Countdown describing the "oversight" Congress is proposing for the bailout plan is a board, funded by Congress rather than the Treasury, Fed, or financial institutions, that would be able to "ask" Treasury after the fact what was paid for each asset purchase, and for an explanation of why that was the right price. Neither this board, nor Congress, would have any ability to halt a purchase even if the price is drastically off, or change the individuals making the pricing decisions. We've had eight years of government officials being publicly exposed for wrongdoing and continuing the same actions anyway, in effect saying, "So you (Congress) don't like it and the public doesn't like it, but you can't do anything about it, so we don't care." In light of this history, and Paulson's recently exposed corruption, this is beyond inadequate and into the realm of stage dressing.

Pres. Hoover tried throwing money at the banks to deal with defaults arising from a troubled economy and it failed utterly. More recently Japan tried to cope with a serious recession by doing the same and found it useless. The financiers and their employees are as wrong on this as a solution as they were on mortgage-backed securities and derivatives. I also hear that requiring equity rather than asset purchases is no longer being considered; the taxpayers deserve having this reopened, especially in light of the debt too huge to rescue in the form of "credit default swaps".

The only obligation you have is to leave the next President enough money and borrowing power to rescue the economy by other, "New Deal"-style means after this fails. If excess borrowing to finance this moneypit is extreme enough to tank the dollar, the gov't will be broke just when the economy desperately needs help.

Sincerely,

[riverdeep]

7. The way it's set up, the fates of the poor and rich are tied together.

If their was a way to just punish those who caused this without doing damage to the innocents, it would be great. I'm NOT for the Paulson version of bailout, but unfortunately, the con men are going to have to live to see another day for now if we don't want a decimated (more than it is already) middle class.

[liberalla]

8. The RICH want the POOR to bail them out

Simple and succinct. Thanks for that!

Now, we will see the extraordinary lengths to which they will go, in order to achieve this goal.
I expect to see new lows in their punishing, bullying tactics, with more criminal behavior.
:evilfrown: