Why You Should Hate the Treasury Bailout Proposal (1 Viewer)

[SaintJ]

Interesting take from Andy Kessler in WSJ this morning.

http://online.wsj.com/article/SB122230704116773989.html

He thinks the US will end up buying a lot of assets on the cheap.

He may well be right. In times of crisis, the ones who do the best are the ones with the cash. "The time to buy is when there is blood in the streets" -- Baron de Rothschild. And right now, the gov't has money, even if it's ours, and freshly printed.

Bush is such a complete ******* idiot. There has to be a better way to get people motivated to tolerate Federal action in this matter without threatening the apocalypse. Unfortunately, various forms of threat pretty much comprise his whole tool box.

 

[Maxp]

None of the talking heads on any of the networks I watched last night even mentioned a change to Paulson's King-like Section 8. They talked about other changes to CEO compensation and crap like that, but nothing about Section 8. Maybe I'm reading into it too much.

I'm beginning to think the defense of CEO compensation is nothing but a distraction to keep Section 8 of the act out of the news.

 

[bclemms]

So an insanely high percentage of people are against the bailout but they will approve it anyway. Remember this when you vote next time.

 

[varanook]

So an insanely high percentage of people are against the bailout but they will approve it anyway. Remember this when you vote next time.

yep, kinda crazy

Talk about arrogance.

 

[Breesway]

I don't know how yall feel about him, but Jim Cramer gave a good explanation why we should support the plan last night on his show and if we don't pass it = meltdown, etc. etc. I'm still undecided about it, but he gave good insight to the other side and basically blamed Paulsen for not selling it correctly.

I'm not a financier or anything but I do enjoy his show and was kinda surprised to see him really stand behind it.

 

[efil4stnias]

I don't know how yall feel about him, but Jim Cramer gave a good explanation why we should support the plan last night on his show and if we don't pass it = meltdown, etc. etc. I'm still undecided about it, but he gave good insight to the other side and basically blamed Paulsen for not selling it correctly.

I'm not a financier or anything but I do enjoy his show and was kinda surprised to see him really stand behind it.

its becuase in truth, there is really no other alternative. Again, i support assistance, but not with the unmitigated immunity that Paulson is asking for. Thats just over the top. And I am sure that is a sticking point in Congress

 

[efil4stnias]

well it looks like they have done it....




http://www.cnn.com/

 

[gboudx]

well it looks like they have done it....




http://www.cnn.com/

It's the end of the world as we know it. And I feel fine.

 

[specter]

Wow!they really pushed this one thru fast!Bush wanted it and he is gonna get it,dont be surprised if he pulls more shenanigans before he leaves office.

 

[varanook]

http://money.cnn.com/2008/09/25/news/economy/colvin_economy.fortune/index.htm?postversion=2008092510

 

[jpcdolphan]

In probably the craziest twist so far, at a UN panel discussion on the Nuclear Test Ban Treaty, Michael Douglas was asked by a reporter for his thoughts on the economic crisis...and was addressed as Gordon Gekko!

http://ap.google.com/article/ALeqM5hX1DDgirJC9ww23I-LbcwwvxNzUgD93DDP0O0

After world leaders here condemned the "boundless greed" of world markets, Douglas was asked to compare nuclear Armageddon with the "financial Armageddon on Wall Street."

But the likening to Gekko did not end there, with a reporter asking: "Are you saying Gordon that greed is not good?"

"I'm not saying that," Douglas replied. "And my name is not Gordon. He's a character I played 20 years ago."

That reporter had to be some sort of plant from the Howard Stern show or something. Right?

Please tell me the conduits to our information are not that hopelessly stupid!

 

[Bleu Raeder]

http://www.cnn.com/2008/POLITICS/09/25/campaign.wrap/index.html

"No bailout agreement after White House meeting"

 

[crosswatt]

http://www.cnn.com/2008/POLITICS/09/25/campaign.wrap/index.html

"No bailout agreement after White House meeting"

God help us...

 

[BMOSaint4evR]

Vote no to your congressman, all weekend!

 

[jpcdolphan]

God help us...

Why? This is good news.

Realistically, some sort of agreement is going to be get done. But, if it isn't getting done immediately, that means that it isn't being rubber stamped.

That means that things like cost, taxpayer protections, control, and alternatives are being discussed and debated.

Unless you're comfortable with a non elected official being given absolute control of the financial markets and a (minimum) 700 billion dollar check, the fact that this deal didn't breeze through is fantastic news!

If someone has a plan to get this done cheaper and with more benefits to the actual taxpayers with actual oversight, I want them to have an opportunity to state their case.