No bailout for you.

Status
Not open for further replies.
McCain voted for the earmark laden bill. How can you trust his rhetoric, when his votes are the opposite of what he claims to be about?

The same thing goes for Obama. His voting record is inconsistent with his rhetoric. That's a nice way of saying, McCain and Obama are liars.

So why would you think, when they suddenly assume the highest office in the land, they are suddenly going to discover principles and integrity?

The way to prevent buyer's remorse, is to stop voting for the lesser of two evils.
 


stmadeveloper said:
There isn't a better solution. The only solution is to do............ (drum roll)

NOTHING.

The market will correct itself. I'm sure putting some of the regulations back in place that have been "relaxed" over the last 10 years or so would help....

That correction is gonna be hard - but dragging it out with a wee little bailout (700 billion doesn't scratch the surface of the amount of bad debt we are dealing with) is just a way to say "we tried to help you" at re-election time.
Click to expand...

I agree, the market would have corrected itself...but the bill passed...and I am willing to bet that it's stuffed with plenty of "great stuff" (not).

I am just going to take the day off and watch everybody freak out now.

Dow is at 9250 (approximately) as I post this...
 
Looks like, once again, our government is following America's inspired leadership. £50bn being handed to rich wankers.. I mean bankers.

Fuckers.
 
In overseas trading, Japan's Nikkei plunged 9.4% and Hong Kong's Hang Seng dropped 8.2%. Europe fell 6.0% despite Britain announcing a plan to bailout its banking system, which included a pledge for $87 billion in direct support for eight major banks, according to the New York Times.
Click to expand...
Its a GEF

Global EPIC Failure
 
tony115 said:
Good video. This truly shows that even Obama will bend to special interest groups. I wonder how much Bush got from this bill. Here is another thought. Those that voted no, did they not get the money they wanted? And one more thing. Those stinking earmarks: Billions in earmarks in Senate's bailout bill

$2 million dollars for wooden arrows? It's funny how these guys will liberally spend money when it is not their own. This stuff has to stop. The only person I like to stop it in the Presidential race is McCain. We do need a spending freeze. We do need to cut back big government.
Click to expand...


You mean the man that said he wouldn't vote for the Bailout if it had any special interest earmarks attached and then he...voted for the bailout? Vote for who you want to, but don't fool yourself.
 
aim said:
They're also "partly" nationalizing your eight biggest banks.

Socialism is the new Capitalism.
Click to expand...

This isn't socialism mate. This is saying we won't interfere with how you run your business and if you fuck up don't worry we'll bail you out... as long as you are big enough, the little guys can go fuck themselves.

The government taking shares is the only half good thing about it, at least then we might get a return. Unfortunately for some reason they are non-voting preference shares, at least if the government was involved in running these companies there might be some level of accountability.
 
LazyHippy said:
This isn't socialism mate. This is saying we won't interfere with how you run your business and if you fuck up don't worry we'll bail you out... as long as you are big enough, the little guys can go fuck themselves.
Click to expand...
But by bailing out the big guys, they are interfering. They are tipping the market.

LazyHippy said:
The government taking shares is the only half good thing about it, at least then we might get a return. Unfortunately for some reason they are non-voting preference shares, at least if the government was involved in running these companies there might be some level of accountability.
Click to expand...
Government is going to generate a profit and be accountable? HA!
 
guerilla said:
But by bailing out the big guys, they are interfering. They are tipping the market.
Click to expand...

They have always interfered. I'm no capitalist, but I can see how it might work if it was left alone... no tax breaks and incentives, no import tariffs, no farming subsidies (not to mention legislation written by lobbyists and wars to benefit corporations). Of course true free markets wouldn't help those that are banking from all this government interference, or socialism for the rich if you prefer.

guerilla said:
Government is going to generate a profit and be accountable? HA!
Click to expand...

Yeah, I know. Just trying to see the tiny fraction of good that might be in this shit. The total package here is £400bn, reportedly £1600 per person - even more than for you over there. :mad:
 
LazyHippy said:
The government taking shares is the only half good thing about it, at least then we might get a return.
Click to expand...

Speaking of return. How are we, the taxpayer, going to get a return. It sounds like more smoke from politicians and they are blowing it out their other end!
 
guerilla said:
But by bailing out the big guys, they are interfering. They are tipping the market.


Government is going to generate a profit and be accountable? HA!
Click to expand...

Good points.

I'd like to add that the way capitalism has usually dealt with these situations is to let them play themselves out. No bailout. Markets self-correct. The biggest problem I see is that there's an underlying assumption that if the Fed or the govt does something...the magic bullet... this whole thing will be 'managed' and we'll all go back to driving up ridiculous debt on our credit cards, driving SUVs, and other excessive shit.
No. This isn't manageable. The more the govt tries to manage it, the worse it gets.

The key is to just let it deflate, then rebuild. Boom bust cycles, been with us for ages. Talk about the gall and chutzpah of thinking any one entity can "manage" a global mass market psychological phenomenon ...

Getting off the gold standard definitely made things much worse.
 
Status
Not open for further replies.
Top Bottom