How free market are you?

[Evan]

and helllooooo socialism!

aaaaaand the taxpayers get to bail out these companies to the tune of $800 billion (more)! horray!

whats the chance that the democrat congress will veto this bailout?
wait, why are you laughing?

[D_Eclipse9916]

They will come out fine according to them, but of course we dont have their knowledge. Ho

This is what private audits are for.

Thats what they "try" for. They definitely dont tell the whole story.

However crappy this government plan may be. It has boosted confidence in the market. Worldwide markets are up in a big way, since the announcement by many foreign governments (and ours) that they are stopping short-selling. Although ours is the shortest period of time, remaining only till october 2nd, but surprise surprise I bet it will go longer, just like how we extend everything and overbudget everything.

[Evan]

ponzi scheme.
whatever short term profit grabbing knee jerk 'confidence' the stock market has is completely irrelevant long term. (but the only thing that matters politically)

You dick with the market, the market comes back to fuck you in the ass. The whole reason that we are in this mess is because we dicked with the market to make it 'better'. Lenders wrote loans they shouldnt have.
Now we are teaching them that we will bail them out, and they can keep on taking unacceptable risks. Let them burn and they will learn.

Im ok with light regulation where it is truly needed, but this is so over the top that I honestly can't even comprehend it.

Take a good long think about 800 billion DJ.
You get to pay your share of that.

[Evan]

ie: <!-- m --><a class="postlink" href="http://www.scribd.com/doc/2190705/CDO-Powerpoint-SubPrime-Primer">http://www.scribd.com/doc/2190705/CDO-P ... ime-Primer</a><!-- m -->

and by bailing them out and eliminating risk and increasing moral hazard, we are allowing them to do it again.

[D_Eclipse9916]

Oh I am definitely not saying its long term. But we needed a chance for the market to pull its head out of its ass with short sellers killing financial institutions more than what is needed. Morgan and Goldman were fine and would still be fine, but if the market continued to detoriate to the point where there stock (which it was) was falling for no REAL financial sense, just rumor.

And the 800 billion dollars is proposed, I dont see why though we are assuming everyone bad assets in their balance sheets. I DO like that we are preventing short sellers from going too far though.

[D_Eclipse9916]

PS- Private firms are doing "fine", you know why? No stupid fucking speculation that has been taken too far! Garr oh well.

[.RJ]

Where is the 800 billion coming from?

Oh we'll just expand our debt....

[Ginger]

Yeah, it's all the short sellers' fault....

[DierwulfBL]

Where is the 800 billion coming from?

Oh we'll just expand our debt....

like i said before, helicopter ben bernanke is supplying the cash fresh off the press

[BLINGMW]

Anybody get rich on Wachovia (WB) today or yesterday? hock:

(not me)

[Ginger]

Screw it. I'm going to take all my money and invest in tulips.

[.RJ]

tulips... lol.

I think I'll invest in a house in the colorado rockies. And guns.

[Evan]

andrew can invest his tu lips on deez nuts

[BLINGMW]

And guns.

My gun nut coworker realized earlier this week that if he had put all his money in even MORE guns and ammo 4, 5 years ago, he would have doubled his money on the guns, tripled his money on the ammo. Instead, he did the "smart, responsible" thing, dumped it into his IRA and mutual funds, and lost half of it. :dunno:

[CaptainHenreh]

I think I'll invest in a house in the colorado rockies. And guns.

My three phase investment plan:

[Apoc]

Anybody get rich on Wachovia (WB) today or yesterday? hock:

(not me)

The edging up yesterday afternoon should have been an indicator how it would open. Oh well. :?

[Apoc]

Given all the talk to wealth distribution on social networks these days, I feel the need to bump this. I have nothing specific to add, other than those help me reaffirm just how free market I really am.

[BLINGMW]

phew I'm glad I haven't checked said socialism network in a few weeks then