2

9/29/2008 4:00:47 PM

Quote :

"What doesn't he have to gain?"

Retarded answer, but I'll bite.

This bailout is massively unpopular, and goes against the free-market principles that he has espoused since before he took office. The bailout highlights a massive failing of the economy under his watch, and would leave him with a tarnished legacy only matched by the Iraq war.

On the other hand, he could let the financial market slide further, and leave an even bigger mess for the next administration.

It doesn't appear that Bush is only acting in his own best interests. He may be misguided, but this is not a thinly veiled power grab by the Bush Administration as you are trying to paint it.

[Edited on September 29, 2008 at 4:05 PM. Reason : 2]

9/29/2008 4:04:20 PM

So you're pro bail out?

YOU ARE NOT AMERICAN

GOOD DAY SIR

9/29/2008 4:05:18 PM

^^The bailout would leave an even bigger mess for the next administration.

To rescue these banks once will essentially guarantee that they will need rescuing again.

[Edited on September 29, 2008 at 4:05 PM. Reason : .]

9/29/2008 4:05:31 PM

Most of the shitty banks have already failed.

Now we are gonna see failure of commercial banks and S&L's because of the liquidity trap. Banks that had zero exposure to the housing crisis will risk failure because they cannot trade with other banks. But, they deserve to fail, right?

[Edited on September 29, 2008 at 4:08 PM. Reason : 2]

9/29/2008 4:07:07 PM

^

Quote :

"To rescue these banks once will essentially guarantee that they will need rescuing again."

9/29/2008 4:07:44 PM

Quote :

"Banks that had zero exposure to the housing crisis will risk failure because they cannot trade with other banks. But, they deserve to fail, right?"

9/29/2008 4:09:25 PM

I think I might go apply for a job.

9/29/2008 4:12:34 PM

Quote :

"Banks that had zero exposure to the housing crisis will risk failure because they cannot trade with other banks. But, they deserve to fail, right?"

More evidence that the $700b bailout is putting a lot of money in the wrong places?

9/29/2008 4:14:08 PM

With everything failing, what is safe to invest in now? Commemorative plates?

9/29/2008 4:38:05 PM

^
1) Find some stocks in companies likely to rebound (those loosely tied or disconnected from the housing market)
2) Buy while they're low.
3) ???
4) Profit.

[Edited on September 29, 2008 at 5:07 PM. Reason : .]

9/29/2008 4:39:58 PM

Brilliance!

9/29/2008 4:40:34 PM

I'LL LIVE IN THE FUCKING WOODS BEFORE THEY TAKE MY MONEY AND HELP SOMEONE PAY THEIR MORTGAGE WHO BOUGHT A HOUSE THEY CAN'T FUCKING AFFORD

I CAN TAKE IT YOU CAN'T

9/29/2008 5:06:40 PM

Keep buying though, the problem with the last depression is everyone freaked and pulled their money out and stopped spending. BAD MIXTURE

spend your money!

9/29/2008 5:21:23 PM

i was forced to buy a lot of medicine today because i'm sick as shit

hooray economy

9/29/2008 5:23:26 PM

Why can't we have a crisis like Japan did, when everyone invested too much of their money?


Stupidity: Made in the USA.

9/29/2008 5:25:10 PM

Japan has like y562456 billion more people than the US

HOW CAN THEY NOT OVER INVEST AMIRITE?

but no really, pack your money and head for the hills, not canada though cause our dollar is shit there

9/29/2008 5:27:19 PM

Kiwi are you fucking retarded? Japan has less than half our population and the USD is almost the same as the Canadian dollar.

9/29/2008 5:29:51 PM

Quote :

"Japan has like y562456 billion more people than the US "

uhhhh

9/29/2008 5:30:07 PM

APRIL FOOLS

9/29/2008 5:31:27 PM

more bad news Kiwi...



it's September.

9/29/2008 5:33:51 PM

haha

9/29/2008 5:38:45 PM

9/29/2008 5:44:58 PM

oh fuck yes, this thread is awesome, although it is filled to the brim with conjecture.

9/29/2008 5:47:49 PM

Then let us hear some of your analysis, noob.

9/29/2008 6:17:11 PM

I AM SMARTER THAN YOU!

Anyways I wanna hear from both sides reasons to pass or fail the bail out from the tdub elites POV

AND GO

9/29/2008 6:23:22 PM

christine with the picture of the day

9/29/2008 6:28:11 PM

Well this sucks. How many people aren't going to be able to borrow money for college, a car, a house, etc.?

It's going to be EPIC FAIL now before it gets any better.

9/29/2008 6:29:57 PM

What sucks is I was planning on going back to school in January but will need financial aid/student loan.

Luckily I have one in repayment right now in good standing so I hope they'll let me get another if not then FUCK ME

9/29/2008 6:35:17 PM

lol democrats.

Bush tries to push through a bill that is obviously geared toward democratic ideals and the left wing nutjobs can't get enough votes even though they run shit

9/29/2008 6:38:30 PM

people on both sides voted for and against it

9/29/2008 6:40:30 PM

Quote :

"Then let us hear some of your analysis, noob."

any information that I would provide would be purely speculation as well, I don't think there is a single person who can predict the outcome of bail out vs. no bail out. This should be evident with the fact that the vote in the HOR was so tight.

9/29/2008 6:46:59 PM

9/29/2008 6:56:45 PM

goddamn nancy pelosi

somebody go choke that bitch

9/29/2008 8:14:36 PM

Ron Paul had a good anti-bailout speech

http://www.youtube.com/watch?v=ticytEUvVhQ

9/29/2008 8:49:21 PM

Quote :

"Why can't we have a crisis like Japan did, when everyone invested too much of their money?"

Yeah and 15 years later they're still in the crapper. I'd rather have a shorter rebound

9/29/2008 8:53:32 PM

if you want someone to blame for this whole situation, blame the banks for their poor lending strategies and blame those dumb motherfuckers who took the loans without having the good sense to do a little math before signing the dotted line.

as far as what to invest in, i would suggest the following (taken from "The Tao of Warren Buffett"):

-plan on investing long term
-choose companies who will inevitably survive damn near anything. these will be companies who provide a good or service which will always be necessary regardless of market situations. examples are Coca Cola, GEICO, Wrigley's Gum, Google, IBM, Exxon Mobil, etc. people will always need what these companies provide
-don't day trade
-don't freak if your stocks go down before going up. if you buy at what you feel is "low", stick with it and when the market rebounds you will see profit

9/29/2008 9:20:48 PM

kiwi is a fucking idiot

thats why the jewish guy dumped her dumb ass

[Edited on September 29, 2008 at 9:30 PM. Reason : x]

9/29/2008 9:23:46 PM

Official song of the stock markets tomorrow:
http://www.youtube.com/watch?v=sSh_Oc78A4o

9/29/2008 9:27:48 PM

fuck you nc

I DUMPED HIS ASS

9/29/2008 11:05:52 PM

In case anyone cares, this is how NC voted:

Democrats Butterfield, N; Etheridge, Y; McIntyre, N; Miller, Y; Price, Y; Shuler, N; Watt, Y.

Republicans Coble, N; Foxx, N; Hayes, N; Jones, N; McHenry, N; Myrick, N.

Yay: 4
Nay: 9

9/30/2008 5:27:37 AM

massive demonstrations on Wall St yesterday, some guy told me to jump out of my window...

pretty funny since:
1) I personally had nothing to do with this mess, I've been here for a year
2) It's tough to look educated/informed when you're carrying a sign that says "Jump! You Fuckers"

I personally believe sensationalist media is to blame for the hatred stemming towards "Wall St" by
1) Coining the term "Bailout"...it's actually a distressed asset acquisition, it's not like the taxpayers will be throwing this money away to never see it again. What if the gov't buys $700b of these assets at the bottom, and makes the taxpayers a couple hundred billion, will the hippie in his emo pants gonna come back to Wall St with his cardboard sign and thank me?
2) Portraying this whole Wall St vs Main St rivalry. The two are intertwined. For the most part, Wall St was just repackaging mortgages made by "Main St" banks, and got stuck with the securities when homeowners (Main St) began defaulting. Isn't owning a home the American dream?

This is not to say Wall St isn't at fault here. There were definitely conflicts of interest and greed that stoked the fire and Wall St deserves to take some massive losses/heads should roll, but it is excessive for pop media and the general public to turn on one of the pillars that has helped create the greatest economy in the world and tell them to kill themselves

9/30/2008 5:46:18 AM

Did Warren Buffet "bailout" Goldman? Did bank of America 'bailout" Merrill Lynch? Calling this thing a bailout was the worst thing that could have ever happened to the plan.

I feel like everyday Americans think this is just writing a check to companies that made bad decisions.

This has nothing to do with executives. If some old white dude made 8 million dollars a year for the last 8 years and now loses his job I think he's going to be sitting pretty regardless.

But I understand why people don't like it. President Bush came on TV and basically said "trust me, we need this". And most people are thinking, yea right.

I'm just saying if you look at from a practical standpoint. If you look at the overwhelming majority of people in the industry or the government. It seems that something needs to be done to allow capitalism to work like it should. And you can say that capitalism means letting everything go to shit but why would you want to do that if it can be avoided or at least lessened.

9/30/2008 6:35:54 AM

http://www.huffingtonpost.com/2008/09/22/dirty-secret-of-the-bailo_n_128294.html

Quote :

"Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency."

9/30/2008 7:01:29 AM

^ That was the big thing that bothered me about the bill as it was worded too.

9/30/2008 7:03:34 AM