If the 700 billion dollar bailout fails , what’s next ?

[UAL_TECH]

my loyalty lies with the PEOPLE of the united states , our laws , and our culture , however i have no loyalty to the "econmic " system that we use .... we could swtich over to commusim tomorrow and we'd still be the UNITED STATES OF AMERICA , as long as we have our civil rights , our freedom of speech , our friends and our familes , that's what makes us who we are ....

the era of this economy is coming to an end , but our nation need not ....

we're about to transition from one stage of history to the next , much like the dark ages or the industrial revolution ..

What a joke.
You do not believe in anything except yourself.
Because of dimwhits like you, we have to bail out the system as you took on more debt than you can afford and now dump it on ‘me’!
We should reinstitute ‘debtors’ prisons and at least you could come out and cut my grass occasionally.

Wearing one of those snappy orange jump suits and leg irons.

 

[signals]

If it fails, we will continue doing what we are doing...

selling America to foreigners and let them take over and infringe on our way of life.

 

[freedom]

What a joke.
You do not believe in anything except yourself.
Because of dimwhits like you, we have to bail out the system as you took on more debt than you can afford and now dump it on ‘me’!
We should reinstitute ‘debtors’ prisons and at least you could come out and cut my grass occasionally.

Wearing one of those snappy orange jump suits and leg irons.

dimwihits ? excuse me ?

Because of GREED , the basis on which our entire ecnomic system is based is the REASON we have to bail it out ... you don't like how capatlism works, then tough . it's called getting ahead , and that's the american way is it not ? Are you going to curse the banks as well for streaching too much ? will you curse the folk who invested in the stock market , a risky gamble .... i didn't quit on the system until i knew it was too late ... and it's too late

What do i care if i take the credit card companies to the bank ? their namless facless orgnizations ... they have no feelings toward me , nor i toward them ... it's only money , and soon enough our money will be worhtless ... so feel free to stuff as much cash under your pillow thinking you'll be in the clear , when inflation starts up good luck with that ...

The system is failing ,i could give a $%^^ less if i take as much as i can before it falls apart .. ( others might call this preperation or thinking ahead )

i'm doing what is prudent and best for myself , much the same way most americans behave ...

EDIT: but let me reiteratie what i do beleive in , freedom , democracy , civil rights , trying to be just and do the right thing ....

but now you'll accuse me of being unjust in dumping my credit card companies ... let me put it to you in a way you might understand ... if we're in a building and it's on fire and everything is going to burn down ... is it such a bad thing if i grab a tv and pull it out with me while the entire house is on fire ? or should i just let everything burn ?

Edit 2 : after reading through my own threads I sound loopy …

Look , truth is I’m just scared like everyone else … I take a much more negative out look on the future than others …

Facing unemployment that could easily exceed 10 % is something I’ve never had to deal with in my adult life , the thought of credit drying up is also hard to swallow …

And I often worry about the unknown effects , the other domino’s so to speak … who’s going to fail next and how will that affect our system ….

It’s unnerving to me to watch some of oldest and largest institutions fail , and the size of the government bailouts is mind boggling , not to mention that all the while I’m aware of the fact that many of our state governments are in the red , and I just can’t see how we’re going to work our way out of this ….

 

[delldude]

let me put it to you in a way you might understand ... if we're in a building and it's on fire and everything is going to burn down ... is it such a bad thing if i grab a tv and pull it out with me while the entire house is on fire ?

Yes,especially if UAL TECH and myself and others foot the bill.

 

[JS]

Yes,especially if UAL TECH and myself and others foot the bill.

No kidding, especially when this proverbial house isn't on fire. 'Freedom' just thinks it's on fire. So he steals the TV, dodging flames that exist only in his mind. At the end of this analogy, 'freedom' asks the judge to lock him up in a psychiatric institution to serve his sentence rather than prison.

 

[UAL_TECH]

dimwihits ? excuse me ?

Sorry, I misspelled it. It should be dimwits , my bad. 😛

Because of GREED , the basis on which our entire ecnomic system is based is the REASON we have to bail it out ... you don't like how capatlism works, then tough . it's called getting ahead , and that's the american way is it not ? Are you going to curse the banks as well for streaching too much ? will you curse the folk who invested in the stock market , a risky gamble .... i didn't quit on the system until i knew it was too late ... and it's too late

What do i care if i take the credit card companies to the bank ? their namless facless orgnizations ... they have no feelings toward me , nor i toward them ... it's only money , and soon enough our money will be worhtless ... so feel free to stuff as much cash under your pillow thinking you'll be in the clear , when inflation starts up good luck with that ...

Wow, you are scared s####ess! Fortunately, I do have money that I worked hard for, saved and sacrificed to get where I am today. Why should I have to subsidize dillweeds such as you? Because you do not have the wherewithal to live within your means or better yourself. By not paying ‘YOUR’ debt, puts the burden on those of us who do through increased interest rates, insurance premiums and penalties.

The system is failing ,i could give a $%^^ less if i take as much as i can before it falls apart .. ( others might call this preperation or thinking ahead )

i'm doing what is prudent and best for myself , much the same way most americans behave ...

EDIT: but let me reiteratie what i do beleive in , freedom , democracy , civil rights , trying to be just and do the right thing ....

What a sad joke!

but now you'll accuse me of being unjust in dumping my credit card companies ... let me put it to you in a way you might understand ... if we're in a building and it's on fire and everything is going to burn down ... is it such a bad thing if i grab a tv and pull it out with me while the entire house is on fire ? or should i just let everything burn ?

Isn’t that what people do in riots? Steal everything they can get their hands on then after the riots are over they complain that there is no business in the neighborhood?

Edit 2 : after reading through my own threads I sound loopy …

Yes you do!

Look , truth is I’m just scared like everyone else … I take a much more negative out look on the future than others …

Facing unemployment that could easily exceed 10 % is something I’ve never had to deal with in my adult life , the thought of credit drying up is also hard to swallow …

And I often worry about the unknown effects , the other domino’s so to speak … who’s going to fail next and how will that affect our system ….

It’s unnerving to me to watch some of oldest and largest institutions fail , and the size of the government bailouts is mind boggling , not to mention that all the while I’m aware of the fact that many of our state governments are in the red , and I just can’t see how we’re going to work our way out of this ….

JMHO, you need to step back and take command of yourself. Look at your financial and spiritual situation and pick yourself up.

Plan for the worst, hope for the best!

B) xUT

 

[freedom]

This is going to be pretty black and white ,

Either i'm wrong , and i hope i am , and the only person i'm screwing is myself with bad credit , and yes i pay taxes so i'll be carring a share of the burden .

or i'm right and this is the great depression , smoke them if you got them

 

[delldude]

This is going to be pretty black and white ,

Either i'm wrong , and i hope i am , and the only person i'm screwing is myself with bad credit , and yes i pay taxes so i'll be carring a share of the burden .

or i'm right and this is the great depression , smoke them if you got them

Why the need then to stick it up your own behind?

Collectively all Amerikka thinks as you do....so where are we now?

Free ride.................... :down:

At your own expense.

 

[North by Northwest]

I've solved the crisis: 😀


Here's a little retirement info for you:

If you had purchased $1,000.00 of Delta Air Lines stock one year ago you
would have $49.00 left.

With Enron, you would have had $16.50 left of the original $1, 000.00.
With WorldCom, you would have had less than $5.00 left.

But, if you had purchased $1,000.00 worth of beer one year ago, drank
all of the beer, then turned in the cans for the aluminum recycling
REFUND, you would have had $214.00.

Based on the above, the best current investment advice is to drink
heavily and recycle.

It's called the 401-Keg.

 

[Gilding the Lily]

Second, while this plan still must confront the difficulty in valuing the toxic assets, it is better than letting the government try to value assets -- who would likely overvalue the assets, thereby enriching the owners/managers of the banks and costing the taxpayers. If, on the other hand, our government correctly pays the actual value of the assets, what good has it done... it has only exchanged one type of capital for another. This approach, after determining the worst-case scenario as the starting value, would create a new second-market value that will be determined by private parties. Third, a debt-for-equity swap in certain situations would benefit both debtholders and equity holders. Forth, it does not socialize losses.

I am getting quite frustrated with our fed and legislature over our "fix" to the economy. They keep talking about the same idea without thinking of a solution to its significant problem: Valuation. While, conceptually, the "Bad Bank" idea is an appealing idea, it is a procedural nightmare.

If a bank (with all its useful tools) cannot accurately price these assets, how does our government think it is going to appropriately price these assets? I noted this problem above months ago... While I think of myself as a person with fairly decent ideas, I do not presume to know more than the legislature or feds and I am certain that I have a much more limited access to key information. Why do they keep hitting the same darn roadblock without solving or avoiding the problem?

As noted by CNBC, "talks on aiding the financial sector resumed Saturday, following a round Friday when speculation arose that a snag had been hit over the bad bank concept, concerning the thorny issue of how to price the assets, which the banks would sell at a discounted price to the government entity."

No duh. As I noted, if the government pays too little for the assets, at best the result would be nullified... at worst, the banks would take major losses. If the government pays too much, the government enriches the owners of the banks while allowing the taxpayers to be screwed.

This is a painfully obvious problem. Why do they even start down this road without solving this problem?

Hopefully, if Geithner has better senses on our economy than on his own taxes, he can create a blanket-type approach that creates a solution that is not based upon our government trying its hand at valuation. I have previously recommended ideas, and it appears that he might have an idea based upon guarantees and insurance. Hopefully something good will come out of it.

 

[delldude]

Hopefully....cooler heads in Senate will prevail.
This stimulus plan is a joke as it sits..........very little if any job creation.For the most part its a liberal spending package to implement those programs that were nixed when GOP was at the helm....Is that right for America at this time?


Info

Sen. Chuck Schumer, D-N.Y., agreed that more could be done in the area of housing, but said tapping the remaining $350 billion from the financial bailout fund would be a more likely way to pay for mortgage relief.

Democrats add that tax cuts alone won't keep firefighters, teachers and construction workers on the job. They say their bill gives states the money to fill some budget holes and start building roads and bridges. They also point to tax cuts for individuals and businesses, and insist a package must be passed.

"This is not another bill, this is not another political debate, this isn't something that we can just dismiss at the end of the week and move on and do something else if this doesn't work. We're facing one of the most serious economic crises in our nation's history," Durbin said.

Why no drilling??...that will move some areas of the economy....but they are in bed with the greens and we can't have that.

 

[freedom]

Private investment is much more efficient then government in job creation. The reality is that stimulating a consumer spending economy is to put money in the hands of people who will then spend money. This is an instant jump start. The quickest way to free up cash to stimulate the economy is a 2 year suspension of the personal income tax or reduce it to the point that is equal to half of the current package per year for the above mentioned 2 years.

Look at your Pay stub and the line that says "Witholding" and see just how much you could buy with even just half of that number.

This is a very easy to implement solution that will take less then 30 days to see results. To bad it won't happen as it makes to much sense and nobody gets a payday in exchange for support of the bill.

i completely agree , our economy needs a boost YESTERDAY , and their talking about tax cuts that i assume would go into effect next year , after we've all lost our jobs ....

the problem with our polticans is that they are polticans , their playing their games and in the meantime we are starving to death ...

As to your point lilly , i also do not think a bad bank solution will work either , but my reasoning is that the bad loans will become so great in number the goverment won't be able to gurantee them ..

piney bob's solution buys us more time ... and we need more time ... anyone see the front cover of todays wall street journal ? thousands lined up in miami for 35 jobs ...

 

[Tug McGroin]

I am getting quite frustrated with our fed and legislature over our "fix" to the economy. They keep talking about the same idea without thinking of a solution to its significant problem: Valuation. . .

If a bank (with all its useful tools) cannot accurately price these assets, how does our government think it is going to appropriately price these assets?

. . .if the government pays too little for the assets, at best the result would be nullified... at worst, the banks would take major losses. If the government pays too much, the government enriches the owners of the banks while allowing the taxpayers to be screwed.

. . .if Geithner has better senses on our economy than on his own taxes, he can create a blanket-type approach that creates a solution that is not based upon our government trying its hand at valuation. I have previously recommended ideas, and it appears that he might have an idea based upon guarantees and insurance. Hopefully something good will come out of it.

Intuitive and clairvoyant Lily, you’re an f’n genius!!

Hat tip

Treasury Lost $78 Billion Due to Overpayment of TARP Funds

Taxpayers and Screwed

Same as it ever was

 

[UAL_TECH]

Deficient spending is no longer an issue, it is a given.
The ‘old’ TARP will be much similar as the new ‘TARP’. There has not been accountability nor fiduciary oversight in ‘any’ case.
Much like the billions thrown at Halliburton without accountability.

NoBama is no different.

I find this all amusing as I look for positions in the Aerospace Industry. Most of the good paying positions require a Secret or Top Secret clearance which I doubt ‘any’ of our ‘elected’ officials could obtain yet they are our ‘decision makers’.

Sad Freaking Deal if you ask me.

B) xUT