The next time I hear the expression "bail-out," I think I am going to scream!

[geiger]

Plus, I continue to get solicitations for this and that various national campaign, these esp in bad taste with the unprecedented financial crisis going on, and the apparent unwillingness for anyone (even Obama, who disappointed me for the first time) to demonstrate some !&%king LEADERSHIP. Leadership is sometimes about taking the time to educate one's constituents about the complexity of the issues. I am beginning to believe that our representatives are so ill-informed they don't even have the language to define what's really going on here: The govt is buying securities so people and businesses can continue to borrow, and we can all keep our frieking jobs.

[Raineyb]

1. Would you prefer rip-off?

That would be apt too.

Regards

[geiger]

9. THAT's already happened. Millions of Americans have had their houses

ripped out from under them, for reasons that are not their fault.

Changes in bankruptcy laws also allowed bankers to get in and try to get greedy, too. So, what happens? The average Joe can give nothin, with the rules the way they are.

Short-term profitability on the balance sheets = long term bullshit.

[ClassWarrior]

18. Then the rippers-off need to pay back the victims and go to jail.

Not the other way around.

NGU.

[geiger]

19. no, they just need to get the sheriff to land up on their door stop, too, to take away their homes.

good enuf for me.

[Raineyb]

49. You are correct. I should specify

Would you prefer further rip-off?

Regards

[HiFructosePronSyrup]

2. Sounds like a sound investment opportunity.

:crazy:

[Eric J in MN]

3. They're buying the mortgage-related securities at prices higher...

...than the private sector would pay.

Otherwise, there is no point.

Hence, it's a bailout.

[JuniperLea]

8. Yep... they are buying "junk" with our money...

And expecting returns on said junk. And lying to us in the process.

[featherman]

4. "Intervention" is a term used in European and Asian governmental for these situations

As in family "interventions" for drug and alcohol abusers... Lol... kind of appropriate

[geiger]

30. Can relate totally.

[Hannah Bell]

5. how about "heist". Does that suit you better? Perhaps one of these?

burglary, depredation, embezzlement, filching, fraud, hold-up, larceny, mugging, pillage, plunder, raid, rapine....

[geiger]

26. those all have been going on now, since about five years ago, when a new bankruptcy law passed...

...which favored creditors in every way, and screwed over honest people trying to pay back what they owed. I've seen bankruptcy trustees change careers in disgust.

Did you know the banks won't let you sell your house if you're in bankruptcy "protection"? Probably not, cause four out of five so-called bankruptcy expert attorneys don't know it either.

[Hannah Bell]

39. sure, everything major's frozen til they pay off the creditors.

[JuniperLea]

6. I think we should all ask ourselves some simple questions...

Like, why was Lehman allowed to fail and others were bailed out? What is Paulson's relationship to Lehman? Why was WaMu allowed to fail when it was obvious they were liquid until panic set in and people started pulling money out?

Banks have money. When banks don't have money, they fail. Banks have money to lend right now. Why aren't they?

[geiger]

17. As far as I'm concerned, Paulson looks like a bumbling fool, too.

What the FUCK is he thinking? That he might get to be king of the world now. What a fucking shrill.

[ClassWarrior]

7. Why not give the money directly to the borrowers so they can pay off their debts?

Wouldn't that support the lenders?

NGU.

[JuniperLea]

10. Oh, don't cloud the issue with logic!

Why do you hate America?

You must be stuuuuupid.


I hope I really don't need the :sarcasm: here:)

[geiger]

13. because Congress passed a fucking bankruptcy law that doesn't allow it.

Anyway, that wouldn't solve the macro-problem that has now developed, as a result of blind and ignorant legislators and greedy power brokers.

[ClassWarrior]

16. Then Congress should pass another fucking law to nullify that one.

Fuck. I wouldn't have given your opinion any credibility at all, but for the fact that you peppered it with spite and fucking foul language.

:rofl:

NGU.

[geiger]

21. Fuck, yes. eom, except I dont know what NGU means.

[scarletwoman]

23. NGU means "Not giving up." (nt)

[JuniperLea]

25. I always wonder about that too...

I keep thinking it's non-gonococcal urethritis!

:rofl:

[scarletwoman]

11. I prefer the term "Economic Terrorism". "Big Fat Con Job" or "Shakedown" work for me, too.

"Nice little economy you got here, be a shame if anything were to happen to it."

sw

[JuniperLea]

20. "Economic Terrorism"

That is EXACTLY what this is!

[scarletwoman]

24. I saw someone else use that term the other day, and I thought, "BINGO!" (nt)

[JuniperLea]

27. Well, I'm going to be using THAT one!

Bingo, indeed!

[Raineyb]

50. "Economic Terrorism"

I definitely like the sound of that. And it needs a lot less explanation since people already know what terrorism is.

Regards

[Geek_Girl]

12. Umm no

The govt is buying bad securities so people and businesses can continue to borrow, in hopes we can all keep our frieking jobs.

[geiger]

14. tell me why they are "bad" securities. you don't know what you are talking about.

you can even watch that crazy CNN economic guy and figure that one out.

[Geek_Girl]

31. Banks will be unloading their bad assets on the feds

our Tax dollars are being used to purchase these assists in order for these financial institution to clear their books.

No one knows exactly how many of these under performing loans are in these packages but most analyst know the real number is much higher than estimates.

Here's a google search for you since you've been living in another dimension.

http://www.google.com/search?sourceid=navclient&ie=UTF-8&rlz=1T4DKUS_enUS257US257&q=bad+assests+%2b+bailout

[JuniperLea]

22. Um no...

The banks have plenty of money to lend... they just aren't. Do you know what happens when banks don't have money? They fail. Just ask Lehman Bros and WaMu, among the long list of banks that have failed recently.

This is a huge LIE! The banks are liquid! If they weren't, they would FAIL!!

[Realityhack]

33. You seem to be very sure of that... yet the banks are not

They won't loan each other money overnight because they are afraid the other bank will fail.

So while you are quite certain they are liquid... the banking industry is not in agreement. Remember that some of those that already failed were considered quite stable until right before they failed.

[JuniperLea]

35. They are liquid, or they would have failed...

There is no middle ground. Banks are being bullies. One need only look at the ratings of banks to know this.

No, those that already failed were NOT quite stable before they failed. That is why they failed!

:eyes:

The only slight exception I can think of is WaMu. Their rating was lowered, word got out, and people started pulling their money out. THAT is why they failed. Had people NOT panicked, it would have been fine.

[Realityhack]

42. You failed to answer my point.

The banks are wary of the ratings. They know some of the things on the balance sheets might not be valued correctly.
They are not willing to do business as usual with each other.
That is a sign that you have a serious problem.

[JuniperLea]

43. Yes it is

There is a systemic and worldwide problem here. Throwing money at it is a very, very temporary fix. Only regulatory legislation can fix this without creating a much bigger mess of things. Adding cash, be it fiat or foreign credit, will cause inflation. We can't take any more inflation. When the banks are driven by fear, there is a huge problem... and it is a legal issue!

A real fix is going to hurt. We are already hurting, and there will be more foreclosures and small business failures regardless. The bailout didn't address either foreclosures OR small business woes. Now it's been so horrifically politicized we may get screwed worse than if the damn thing had passed in the first place.

I think it's a horrific waste of time and money. We need to focus on a trickle-up economy, instead of the trickle-down version we've been strapped with for so long... and it clearly is NOT working. That, coupled with lack of regulation and oversight is what caused this problem. The only way to fix it is to set those regulations back into place.

[El Supremo]

15. ...

[JuniperLea]

29. Pssst! Hey! El Supremo!

Your golden parachute is on fire!

:rofl:

[sarcasmo]

28. Does Corporate Handout sound better?

[geiger]

32. go read a simple economics text, or novel, and get back to me on that one.

[sarcasmo]

34. Look, De Regulation got us into this mess and now the taxpayer has to pay?

How about reading a book on common sense. On edit: They made it near impossible for the average Joe to file bankruptcy, thanks to the credit industry, now they want the taxpayer to bail them out? Not only no, but HELL NO.

[geiger]

36. Congress is going to have to quit campaigning and take a couple of weeks

to really study the issue. If they can do that, we will all win, including them.

It's a multi-dimensional, interwoven issue; you've got that right.

[sarcasmo]

38. Study the issue? They wanted to invest everyones Social Security into a high risk investment,

Being the Stock Market. High risk, meaning you have a high chance of losing your money. Do we the people need to bail out bad investments? If they do the bailout the people better receive something, give the people back the old Bankruptcy Bill and go back to the old Regulations or this will happen again, I sure don't need a book to figure this one out.

[geiger]

46. depends on the meaning of "they"--who are THEY?

[sarcasmo]

47. The Republicans who wanted to spend our Social Security money.

"This bill is immoral" Dennis Kucinich on Rachel tonight. If Bush is for it and Kucinich is against it, whom do you believe?

[Kansas Wyatt]

40. Extort -

To get (money, etc.) from someone by force or threats.

Corrupt politicians and government officials acting on behalf of the Fat Cats in Big Business are threatening the American People that, even though they have taken it up the ass for so many years and still played by the rules, if they don't pay up to bail out the Fat Cats in Big Business, then everything they have worked for will be wiped out and they will hurt a Hell of a lot more.

When did the U.S. Government join the Mob, or have they actually joined with Big Business on Wall Street and taken over the Mob?

Will extortionists get to use this excuse for now on in court cases? Will those already convicted get new trials?

[sarcasmo]

41. Good word, Extort money prior to leaving the White House. I wonder what kind of cut

Bush will get.

[MannyGoldstein]

37. Not Mutually Exclusive - It Is A Bailout, And ...

... The govt is buying securities so people and businesses can continue to borrow, and we can all keep our freaking jobs.

And to reward their friends in the Predator Class.

All are true.

There are certainly better ways to do this, that would cost far less AND STILL allow people and businesses to continue to borrow. But then there'd be no huge cash waterfalls for the Predator Class.

[DemoTex]

44. BAIL-OUT! BAIL-OUT! BAIL-OUT!

[Individualist]

45. A bailout by any other name is still a bailout.

You can call a skunk a rose, but that doesn't mean it ain't gonna stink.

[JackRiddler]

48. Put quotes around "securities" and maybe you'll be closer to the reality.

The government is proposing to buy junk at far above market price so banks can unload their losses on to the taxpayer and disappear the real cash. Also get interest on the $700 bn in T-bills the govt will have to issue to cover this. What a great deal.

There are other ways to ensure liquidity - for example by offering to back loans to real businesses.