TNDemo
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Thu Sep-25-08 07:37 AM
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Consequences of no bailout. |
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I really don't like this thing. I would be okay with a loan from the government to be paid back with interest and no golden parachutes and no immunity from prosecution. I am also not convinced that some liquidity will keep these institutions from ultimately failing anyway. I was surprised to hear George Stephanopoulos say this morning that the consequences of not passing it would be really disastrous. Of course Kramer was saying basically the great depression would look like a walk in the park. Thoughts?
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Historic NY
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Thu Sep-25-08 07:42 AM
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1. Survival of the fittest....should be played out in the market... |
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most of these banks and lenders knew very well the risk in writing crap and now we have to bail them out...Who is bailing me out? Wall St. get billions maybe a trillion while Main St. got stimulus crumbs. The great depression these guys caused it and now they don't want to play.
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rucky
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Thu Sep-25-08 07:45 AM
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2. This either/or scenario is bogus. |
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Secure credit lines for smaller investment agencies and independent banks, proven to have common-sense lending and investment policies - giving them the liquidity to step in and fill the void left by these giants. It stabilizes the system, puts money in responsible hands, spreads out the wealth & risk, so the stakes of one company's failure won't sink the economy.
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HereSince1628
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Thu Sep-25-08 07:48 AM
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3. It's as if the Captain of the Titanic had said 'Shut up and bail' |
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When it looks more and more like no amount of bailing is going to keep the ship afloat.
The problem is that hundreds of billions of dollars of loss MUST be realized. The painful reality everyone is trying to avoid is admitting that the "Titanic is lost."
It's time for White Star to grieve the loss and for the rest of us to insist they buy more life boats for "Olympic."
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nebenaube
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Thu Sep-25-08 07:52 AM
Response to Original message |
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Edited on Thu Sep-25-08 07:55 AM by nebenaube
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earthside
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Thu Sep-25-08 07:57 AM
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We're in for an economic crash no matter what.
We can slide into recession (depression) and heap $2 or $3 trillion in federal debt on top of it with the BIG Bush Bailout Plan, thereby severely limiting anything the government can do to help average people ...
OR ...
We can slide into recession (depression) and have the deficit spending resources left to "prime the pump" to get ourselves out of the mess after the crappy banks have failed and are out of the way.
But it boils down to this: pass the bailout and President Obama will be hamstrung from the first day of his administration by massive federal debt, making it almost impossible for him to enact any of his reform programs. So, why would any Democrat or Obama supporter be in favor of this lousy Bush scheme?
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sinkingfeeling
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Thu Sep-25-08 09:05 AM
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6. We've already done the following with no good results: |
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$29 billion to 'save' Bear Stearns $100-150 billion to 'save' Fannie and Freddie $85 billion to 'save' AIG
$230 billion in funds from the Federal Reserve to give the 'market liquidity'
Guaranteed up to $3.5 trillion in money market mutual funds.
Where is the evidence that the markets will 'seize credit' without another $700 billion?
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Romulox
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Thu Sep-25-08 09:07 AM
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7. Kramer curls up into a ball and whines for government $$$ whenever one of "his guys" loses money |
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Some "capitalist" that guy is. :eyes:
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Skidmore
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Thu Sep-25-08 09:16 AM
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8. I just listened to a guy from CNBC on MSNBC saying that |
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this current bailout is just the first. Essentially he said that we won't know for "YEARS" how much the cost will be until the mortgages mature. I'll repeat something I said yesterday on this board. Why not renegotiate to fixed mortgages at a reasonable rate? Why the stampede to prop up mortgates based on ARMS? I do believe that a certain amount of this is being created because the big boys don't want to take a dive while expecting the rest of us to do it for them. Something stinks.
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DU
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Fri Apr 26th 2024, 11:14 AM
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