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Old 09-19-2008, 12:58 AM   #31
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US taxpayers, you've won!! Let's see what's behind door #1....oh my, a trillion dollars worth of derivative losses.

Are they going to ban all shorting or just naked shorting? What about cross border stuff?

For years now we have been told that the free market will correct for everything. Unbridled capitalism works so super well.

I mean, we wouldn't want to nationalize profitable sectors! Nah, let's go with losing entities.
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Old 09-19-2008, 10:28 AM   #32
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Hopefully the Dems will insist on an equity stake in some of the profitable firms like Goldman, at a minimum. They could also offer less than par value on these securities. Seeking Pelosi with Paulson was a bit disconcerting.
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Old 09-19-2008, 01:50 PM   #33
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Hmmm, maybe I should be glad I have next to no money in the bank and no other stocks or assets (besides two measly shares in Coca-Cola that my uncle gave me as a little kid).
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Old 09-19-2008, 04:39 PM   #34
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Ohhh I get it now....

Now I know where my $600 refund check is going to go.
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Old 09-19-2008, 07:25 PM   #35
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Are they going to ban all shorting or just naked shorting? What about cross border stuff?
You are asking the right questions.
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Old 09-22-2008, 02:32 PM   #36
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I am starting to think this 700 billion bail out is a bad idea.

There is no real over sight.
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Old 09-23-2008, 04:35 PM   #37
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Section 8 of the proposed legislation says it all:

"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."
While Paulson and Bernanke hold a gun to the heads of Congress threatening worldwide financial armageddon unless they're given unchecked control to "control" a crisis they helped create.

That's rich. And brilliantly orchestrated frankly.
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Old 09-23-2008, 05:03 PM   #38
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I am starting to think this 700 billion bail out is a bad idea.

There is no real over sight.

Yeah, it needs some major oversight. It also needs to pay back the taxpayers in some way (I believe the FannieMae, FreddieMac & AIG included a tax on the companies that would ultimately act as interest).

Basically, this is Iraq. It needs both an entrance and an exit strategy.
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Old 09-23-2008, 05:27 PM   #39
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I am starting to think this 700 billion bail out is a bad idea.

There is no real over sight.
Welcome to the difference in how Republicans and Democrats write legislation. A McCain presidency will be exactly the same.
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Old 09-23-2008, 05:34 PM   #40
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Bush's actions are a very clear sign that he doesn't give a shit.

Leave it for the next administration. He's too busy packing.
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Old 09-23-2008, 06:54 PM   #41
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While Paulson and Bernanke hold a gun to the heads of Congress threatening worldwide financial armageddon unless they're given unchecked control to "control" a crisis they helped create.
This began long, long before Paulson and Bernanke were even a twinkle in George Bush's eye. Paulson and Bernanke are guilty of whistling past the graveyard like the vast majority of our politicians.

Unfortunately, this huge bailout has become a necessity for the U.S. economy and beyond.
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Old 09-23-2008, 06:56 PM   #42
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This began long, long before Paulson and Bernanke were even a twinkle in George Bush's eye.
Yes, it began with that Republican visionary, Reagan.
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Old 09-23-2008, 07:01 PM   #43
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Yes, it began with that Republican visionary, Reagan.
You leave that brilliant actor out of this. His fiscal policies never hurt anyone. Let's hear it for Reaganomics! USA! USA! etc.
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Old 09-23-2008, 08:47 PM   #44
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Yes, it began with that Republican visionary, Reagan.

Hey, that man is Obama's inspiration.

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Obama said, "I think Ronald Reagan changed the trajectory of America in a way that Richard Nixon did not and in a way that Bill Clinton did not. He put us on a fundamentally different path because the country was ready for it. I think they felt like with all the excesses of the 1960s and 1970s and government had grown and grown but there wasn't much sense of accountability in terms of how it was operating. I think people, he just tapped into what people were already feeling, which was we want clarity we want optimism, we want a return to that sense of dynamism and entrepreneurship that had been missing."
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Old 09-23-2008, 08:50 PM   #45
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Welcome to the difference in how Republicans and Democrats write legislation. A McCain presidency will be exactly the same.
Are you aware of Biden's relationship with the Banks that are all incorporated in Del.

How he got their bankruptcy legislation through at the expense of the working people?
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