Oh Hey! . . Cramer just said this bailout is ACTUALLY a tremendous

[annabanana]

investment opportunity for the American Taxpayer!

[billyoc]

1. Don't laugh, if the mortgages can be purchased at mark to market prices,

intead of hold-to-maturity prices, you could be a big winner. Of course, with Bush's "Power to the Paulson" plan, you'll be paying hold-to-maturity. :eyes:

[MidwestTransplant]

3. They won't be bought at MtoM. That's the point of the program. If it were, the banks would get

crushed. They need to be purchased at something above M to M.

[DCKit]

8. and inflation alone would take a huge chunk off the top.

Nope, market price is the only way to go - if we do anything resembling this plan. You know that's what Buffet's hoping for, and I'm hoping he's wrong.

However, wouldn't it be better to invest $700B in refinancing those sub-prime mortgages to allow people to keep their homes and businesses and continue to pay their mortgages?

I say buy those mortgages from the speculators at fair market value and turn them over to a newly funded, highly regulated Fannie and Freddie to refinance them at set, reasonable rates. Those who can't be saved and the speculators/flippers with more than one property should be foreclosed on. Those who own the derivatives can eat the difference: With the majority of "risky loans" off their books, they should be able to absorb their losses. If they can't, well, that's what you get for gambling.

[DJ13]

2. The Wall Street types are dancing faster and faster

They all see how unpopular the gravy train they're counting on from the bailout is with the American people.

[European Socialist]

4. I guess if it were so great Wall Street would have already snapped it up.

[jpak]

5. Cramer is a loud mouthed idiot and a complete mo-ran

fuck him

[Anywho6]

6. Yeah, I would love to hear that explanation

We're getting screwed no matter what. I was completely disgusted by a comment I heard on CNBC regarding a proposal to limit executive compensation for any company benefiting from the "bailout." He said it was a horrible idea because these were the people who were going to be responsible for selling the assets to the government. I took it that he was implying, "We better pay them a lot or they're not going to be honest." WTF????!!!! Isn't that exactly WHY we're in this freakin' mess to begin with?! Lie after lie after lie... In other words, this is just another shakedown and I guarantee there is nothing in it for me except maybe I will only lose ~50% instead of ~51%. Like my mom always told me, "Them that has, gets."

On edit: Spelling

[IDemo]

7. He also said "There is NOTHING WRONG WITH BEAR STEARNS!!!" n/t