House passes bailout.

[Craig234]

Manufacturing in trouble: GFY
Labor in trouble: GFY
Record foreclosures affecting the citizens: GFY
Finance industry in trouble: National emergency, here's $700B and probably more to come.

You know, as much as I try to remind people there's 'good govrnment' and 'bad government', sometimes 'bad government' is so bad it's easy to understand their cynicism.

 

[smack Down]

Originally posted by: LegendKiller

Originally posted by: smack Down

Originally posted by: LegendKiller

Originally posted by: BoberFett

Originally posted by: Evan Lieb
Good, this is sorely needed and far better than not passing anything at all as the Paulbots and libertarians would have us believe.

I wish it were just the Paulbots and libertarians who were against this. If it was, it'd mean we had about 80% of the country on our side.

No, people of all walks of life realize they're going to get shafted by this deal.

That's why the jobs report sucks so bad, dozens of companies are heading into the shitter, and the economy is sinking faster than a mafioso with cement boots into the long island sound.

So Bush's plan is to spend 700 billion dollars and maybe create 500 jobs.

Give up, this has nothing to do with the economy and everything to do with making sure paulson's wall streets pals don't fell any of the downside.

Not that you would care, but people are losing jobs up here. One of my coworkers was laid off yesterday. I had dinner with a friend who worked at Lehman, lost 90% of wealth that was locked up in LEH stock.

These are people who spent a lot of money in the economy. Whether you realize it or not, this is filtering down, fast. Your steadfast refusal to acknowledge the truth makes you look more idiotic than believing the plane won't take off.

Your friend should have made better friends with paulson. Anyways it is stupid to own any stock for the company you work for.

I don't disagree the economy is going down the shitter. Paulson plan does nothing but help a few floaters stay on top.

 

[LegendKiller]

Originally posted by: smack Down

Originally posted by: LegendKiller

Originally posted by: smack Down

Originally posted by: LegendKiller

Originally posted by: BoberFett

Originally posted by: Evan Lieb
Good, this is sorely needed and far better than not passing anything at all as the Paulbots and libertarians would have us believe.

I wish it were just the Paulbots and libertarians who were against this. If it was, it'd mean we had about 80% of the country on our side.

No, people of all walks of life realize they're going to get shafted by this deal.

That's why the jobs report sucks so bad, dozens of companies are heading into the shitter, and the economy is sinking faster than a mafioso with cement boots into the long island sound.

So Bush's plan is to spend 700 billion dollars and maybe create 500 jobs.

Give up, this has nothing to do with the economy and everything to do with making sure paulson's wall streets pals don't fell any of the downside.

Not that you would care, but people are losing jobs up here. One of my coworkers was laid off yesterday. I had dinner with a friend who worked at Lehman, lost 90% of wealth that was locked up in LEH stock.

These are people who spent a lot of money in the economy. Whether you realize it or not, this is filtering down, fast. Your steadfast refusal to acknowledge the truth makes you look more idiotic than believing the plane won't take off.

Your friend should have made better friends with paulson. Anyways it is stupid to own any stock for the company you work for.

I don't disagree the economy is going down the shitter. Paulson plan does nothing but help a few floaters stay on top.

it was restricted stock with 5+ years vesting period. That was a large part of comp

 

[First]

Originally posted by: smack Down

Originally posted by: LegendKiller

Originally posted by: smack Down

Originally posted by: LegendKiller

Originally posted by: BoberFett

Originally posted by: Evan Lieb
Good, this is sorely needed and far better than not passing anything at all as the Paulbots and libertarians would have us believe.

I wish it were just the Paulbots and libertarians who were against this. If it was, it'd mean we had about 80% of the country on our side.

No, people of all walks of life realize they're going to get shafted by this deal.

That's why the jobs report sucks so bad, dozens of companies are heading into the shitter, and the economy is sinking faster than a mafioso with cement boots into the long island sound.

So Bush's plan is to spend 700 billion dollars and maybe create 500 jobs.

Give up, this has nothing to do with the economy and everything to do with making sure paulson's wall streets pals don't fell any of the downside.

Not that you would care, but people are losing jobs up here. One of my coworkers was laid off yesterday. I had dinner with a friend who worked at Lehman, lost 90% of wealth that was locked up in LEH stock.

These are people who spent a lot of money in the economy. Whether you realize it or not, this is filtering down, fast. Your steadfast refusal to acknowledge the truth makes you look more idiotic than believing the plane won't take off.

Your friend should have made better friends with paulson. Anyways it is stupid to own any stock for the company you work for.

I don't disagree the economy is going down the shitter. Paulson plan does nothing but help a few floaters stay on top.

No, his plan doesn't do that and you couldn't argue otherwise, in detail, if your life depended on it.

 

[Jaskalas]

Originally posted by: Craig234
Manufacturing in trouble: GFY
Labor in trouble: GFY
Record foreclosures affecting the citizens: GFY
Finance industry in trouble: National emergency, here's $700B and probably more to come.

You know, as much as I try to remind people there's 'good govrnment' and 'bad government', sometimes 'bad government' is so bad it's easy to understand their cynicism.

Instead of letting the finances melt down and recover, we've throwing and investing the entire wealth of the nation down that same rabbit hole. If this $2 trillion fails, and I suspect it will, then we all sink with the ship.

 

[Moonbeam]

Originally posted by: Jaskalas

Originally posted by: Craig234
Manufacturing in trouble: GFY
Labor in trouble: GFY
Record foreclosures affecting the citizens: GFY
Finance industry in trouble: National emergency, here's $700B and probably more to come.

You know, as much as I try to remind people there's 'good govrnment' and 'bad government', sometimes 'bad government' is so bad it's easy to understand their cynicism.

Instead of letting the finances melt down and recover, we've throwing and investing the entire wealth of the nation down that same rabbit hole. If this $2 trillion fails, and I suspect it will, then we all sink with the ship.

And you decided this how? By reading elephant dung?

 

[smack Down]

Originally posted by: LegendKiller

Originally posted by: smack Down

Originally posted by: LegendKiller

Originally posted by: smack Down

Originally posted by: LegendKiller

Originally posted by: BoberFett

Originally posted by: Evan Lieb
Good, this is sorely needed and far better than not passing anything at all as the Paulbots and libertarians would have us believe.

I wish it were just the Paulbots and libertarians who were against this. If it was, it'd mean we had about 80% of the country on our side.

No, people of all walks of life realize they're going to get shafted by this deal.

That's why the jobs report sucks so bad, dozens of companies are heading into the shitter, and the economy is sinking faster than a mafioso with cement boots into the long island sound.

So Bush's plan is to spend 700 billion dollars and maybe create 500 jobs.

Give up, this has nothing to do with the economy and everything to do with making sure paulson's wall streets pals don't fell any of the downside.

Not that you would care, but people are losing jobs up here. One of my coworkers was laid off yesterday. I had dinner with a friend who worked at Lehman, lost 90% of wealth that was locked up in LEH stock.

These are people who spent a lot of money in the economy. Whether you realize it or not, this is filtering down, fast. Your steadfast refusal to acknowledge the truth makes you look more idiotic than believing the plane won't take off.

Your friend should have made better friends with paulson. Anyways it is stupid to own any stock for the company you work for.

I don't disagree the economy is going down the shitter. Paulson plan does nothing but help a few floaters stay on top.

it was restricted stock with 5+ years vesting period. That was a large part of comp

Like I said stupid.

 

[First]

Originally posted by: smack Down

Originally posted by: LegendKiller

Originally posted by: smack Down

Originally posted by: LegendKiller

Originally posted by: smack Down

Originally posted by: LegendKiller

Originally posted by: BoberFett

Originally posted by: Evan Lieb
Good, this is sorely needed and far better than not passing anything at all as the Paulbots and libertarians would have us believe.

I wish it were just the Paulbots and libertarians who were against this. If it was, it'd mean we had about 80% of the country on our side.

No, people of all walks of life realize they're going to get shafted by this deal.

That's why the jobs report sucks so bad, dozens of companies are heading into the shitter, and the economy is sinking faster than a mafioso with cement boots into the long island sound.

So Bush's plan is to spend 700 billion dollars and maybe create 500 jobs.

Give up, this has nothing to do with the economy and everything to do with making sure paulson's wall streets pals don't fell any of the downside.

Not that you would care, but people are losing jobs up here. One of my coworkers was laid off yesterday. I had dinner with a friend who worked at Lehman, lost 90% of wealth that was locked up in LEH stock.

These are people who spent a lot of money in the economy. Whether you realize it or not, this is filtering down, fast. Your steadfast refusal to acknowledge the truth makes you look more idiotic than believing the plane won't take off.

Your friend should have made better friends with paulson. Anyways it is stupid to own any stock for the company you work for.

I don't disagree the economy is going down the shitter. Paulson plan does nothing but help a few floaters stay on top.

it was restricted stock with 5+ years vesting period. That was a large part of comp

Like I said stupid.

Yes, we know you are.

 

[WhipperSnapper]

Originally posted by: Craig234
Manufacturing in trouble: GFY
Labor in trouble: GFY
Record foreclosures affecting the citizens: GFY
Finance industry in trouble: National emergency, here's $700B and probably more to come.

You know, as much as I try to remind people there's 'good govrnment' and 'bad government', sometimes 'bad government' is so bad it's easy to understand their cynicism.

Ironically, some of the Wall Street people who are being bailed out probably bought into if not peddled the lie that we have a shortage of trained people in technical fields and that therefore we need to import millions of foreigners to do these jobs, displacing Americans from knowledge-based fields. I bet they also thought nothing about the loss of manufacturing jobs to China and the loss of white collar jobs to India and they probably support mass legal immigration and illegal immigration too.

Now that we have a credit crunch and can no longer rely on borrowing money that people do not have to spend on goods and services, we'll discover that our economy is hollow and that you can't have a strong middle class when your economy is based on serving lattes at Starbucks and selling off hard assets to foreigners to purchase goods and intellectual services from them. I think that a passage from Ayn Rand's Atlas Shrugged provides an excellent analogy for the state of the American economy today:

The great oak tree had stood on a hill over the Hudson, in a lonely spot on the Taggart estate. Eddie Willers, aged seven, liked to come and look at that tree. It had stood there for hundreds of years, and he thought it would always stand there. Its roots clutched the hill like a fist with fingers sunk into the soil, and he thought that if a giant were to seize it by the top, he would not be able to uproot it, but would swing the hill and the whole of the earth with it, like a ball at the end of a string. He felt safe in the oak tree's presence; it was a thing that nothing could change or threaten; it was his greatest symbol of strength.

One night, lightening struck the oak tree. Eddie saw it the next morning. It lay broken in half, and he looked into its trunk as into the mouth of a black tunnel. The trunk was only an empty shell; its heart had rotted away long ago; there was nothing inside--just a thin gray dust that was being dispersed by the whim of the faintest wind. The living power had gone, and the shape it left had not been able to stand without it."

 

[smack Down]

Originally posted by: Evan Lieb

Originally posted by: smack Down

Originally posted by: LegendKiller

Originally posted by: smack Down

Originally posted by: LegendKiller

Originally posted by: smack Down

Originally posted by: LegendKiller

Originally posted by: BoberFett

Originally posted by: Evan Lieb
Good, this is sorely needed and far better than not passing anything at all as the Paulbots and libertarians would have us believe.

I wish it were just the Paulbots and libertarians who were against this. If it was, it'd mean we had about 80% of the country on our side.

No, people of all walks of life realize they're going to get shafted by this deal.

That's why the jobs report sucks so bad, dozens of companies are heading into the shitter, and the economy is sinking faster than a mafioso with cement boots into the long island sound.

So Bush's plan is to spend 700 billion dollars and maybe create 500 jobs.

Give up, this has nothing to do with the economy and everything to do with making sure paulson's wall streets pals don't fell any of the downside.

Not that you would care, but people are losing jobs up here. One of my coworkers was laid off yesterday. I had dinner with a friend who worked at Lehman, lost 90% of wealth that was locked up in LEH stock.

These are people who spent a lot of money in the economy. Whether you realize it or not, this is filtering down, fast. Your steadfast refusal to acknowledge the truth makes you look more idiotic than believing the plane won't take off.

Your friend should have made better friends with paulson. Anyways it is stupid to own any stock for the company you work for.

I don't disagree the economy is going down the shitter. Paulson plan does nothing but help a few floaters stay on top.

it was restricted stock with 5+ years vesting period. That was a large part of comp

Like I said stupid.

Yes, we know you are.

So you consider it sound investment advice to keep 90% of your saving in the same company you work.

Hell keeping it in one company is bad enough but after enron and worldcom doing that is just stupid.

 

[Squisher]

As a side note, the bailout included $1 billion in tax incentives for electric vehicles.

...... but even more promising for the auto industry is the tax break for electric vehicles. Consumers could get a tax credit worth up to $7,500 for vehicles such as the Chevrolet Volt, or Chrysler vehicles planned for production in 2010. Nissan Motor Co. also says it will have an electric vehicle available in 2010. Those cars could cost as much as $40,000.....

http://www.detnews.com/apps/pb...81004/AUTO01/810040362

In this article it also mentions that 4 in 10 auto buyers were unable to get financing for their new vehicles. Hopefully the bailout will change this.

 

[smack Down]

Originally posted by: Evan Lieb

Originally posted by: smack Down

Originally posted by: LegendKiller

Originally posted by: smack Down

Originally posted by: LegendKiller

Originally posted by: BoberFett

Originally posted by: Evan Lieb
Good, this is sorely needed and far better than not passing anything at all as the Paulbots and libertarians would have us believe.

I wish it were just the Paulbots and libertarians who were against this. If it was, it'd mean we had about 80% of the country on our side.

No, people of all walks of life realize they're going to get shafted by this deal.

That's why the jobs report sucks so bad, dozens of companies are heading into the shitter, and the economy is sinking faster than a mafioso with cement boots into the long island sound.

So Bush's plan is to spend 700 billion dollars and maybe create 500 jobs.

Give up, this has nothing to do with the economy and everything to do with making sure paulson's wall streets pals don't fell any of the downside.

Not that you would care, but people are losing jobs up here. One of my coworkers was laid off yesterday. I had dinner with a friend who worked at Lehman, lost 90% of wealth that was locked up in LEH stock.

These are people who spent a lot of money in the economy. Whether you realize it or not, this is filtering down, fast. Your steadfast refusal to acknowledge the truth makes you look more idiotic than believing the plane won't take off.

Your friend should have made better friends with paulson. Anyways it is stupid to own any stock for the company you work for.

I don't disagree the economy is going down the shitter. Paulson plan does nothing but help a few floaters stay on top.

No, his plan doesn't do that and you couldn't argue otherwise, in detail, if your life depended on it.

Well that is easy, while everyone else is going out of business paulson's pals will be setting large on top of the 700 billion dollar gift from paulson. There will be no trickle down, there will be no "unfreezing" of the credit markets. It will do nothing.

 

[First]

Originally posted by: smack Down

Well that is easy, while everyone else is going out of business paulson's pals will be setting large on top of the 700 billion dollar gift from paulson.

No, again dead wrong. They're propping up institutions to provide loans for businesses that need the money to continue paying and hiring workers. They're propping up banks that need to keep a certain amount of liquidity to stay in business and not fail their depositers. This is basic econ 101, and you failed it.

There will be no trickle down, there will be no "unfreezing" of the credit markets. It will do nothing.

Again, you totally fail to understand what is going on here.

 

[smack Down]

Originally posted by: Evan Lieb

Originally posted by: smack Down

Well that is easy, while everyone else is going out of business paulson's pals will be setting large on top of the 700 billion dollar gift from paulson.

No, again dead wrong. They're propping up institutions to provide loans for businesses that need the money to continue paying and hiring workers. They're propping up banks that need to keep a certain amount of liquidity to stay in business and not fail their depositers. This is basic econ 101, and you failed it.

There will be no trickle down, there will be no "unfreezing" of the credit markets. It will do nothing.

Again, you totally fail to understand what is going on here.

Except that nothing in the bill requires paulson's pals to lend the money paulson is giving them.

 

[LegendKiller]

Originally posted by: Jaskalas

Originally posted by: Craig234
Manufacturing in trouble: GFY
Labor in trouble: GFY
Record foreclosures affecting the citizens: GFY
Finance industry in trouble: National emergency, here's $700B and probably more to come.

You know, as much as I try to remind people there's 'good govrnment' and 'bad government', sometimes 'bad government' is so bad it's easy to understand their cynicism.

Instead of letting the finances melt down and recover, we've throwing and investing the entire wealth of the nation down that same rabbit hole. If this $2 trillion fails, and I suspect it will, then we all sink with the ship.

We were all going to "sink with the ship" anyway.

Did you learn anything in your history classes?

 

[LegendKiller]

Originally posted by: smack Down

So you consider it sound investment advice to keep 90% of your saving in the same company you work.

Hell keeping it in one company is bad enough but after enron and worldcom doing that is just stupid.

Are you a fucking retard?

With restricted stock you CAN'T SELL IT. YOU CAN'T HEDGE IT. YOU HAVE TO JUST LET IT SIT.


No wonder you can't even figure out if the plane takes off.

 

[smack Down]

Originally posted by: LegendKiller

Originally posted by: smack Down

So you consider it sound investment advice to keep 90% of your saving in the same company you work.

Hell keeping it in one company is bad enough but after enron and worldcom doing that is just stupid.

Are you a fucking retard?

With restricted stock you CAN'T SELL IT. YOU CAN'T HEDGE IT. YOU HAVE TO JUST LET IT SIT.


No wonder you can't even figure out if the plane takes off.

So have other saving not invested in the company. If you are unable to do that then you should turn down the job.

 

[LegendKiller]

Originally posted by: smack Down

Originally posted by: LegendKiller

Originally posted by: smack Down

So you consider it sound investment advice to keep 90% of your saving in the same company you work.

Hell keeping it in one company is bad enough but after enron and worldcom doing that is just stupid.

Are you a fucking retard?

With restricted stock you CAN'T SELL IT. YOU CAN'T HEDGE IT. YOU HAVE TO JUST LET IT SIT.


No wonder you can't even figure out if the plane takes off.

So have other saving not invested in the company. If you are unable to do that then you should turn down the job.

That's all most of these people have left, I know that's true of my friend.

However, things aren't as simple as you think they are. It's not surprising, simple mind, simple conclusions.

 

[BoberFett]

Originally posted by: LegendKiller
Not that you would care, but people are losing jobs up here. One of my coworkers was laid off yesterday. I had dinner with a friend who worked at Lehman, lost 90% of wealth that was locked up in LEH stock.

Good. People in your sector should be losing everything.

 

[LegendKiller]

Originally posted by: BoberFett

Originally posted by: LegendKiller
Not that you would care, but people are losing jobs up here. One of my coworkers was laid off yesterday. I had dinner with a friend who worked at Lehman, lost 90% of wealth that was locked up in LEH stock.

Good. People in your sector should be losing everything.

I am sure that if you believe in God, he'll save a nice place in hell for you for thinking thoughts like that.

People are still people, most have worked very hard to get what they have/had. To wish ill upon achievement is not righteous nor correct.

I am sure you probably don't understand, but investment banking does have a function and will always have one.

 

[nergee]

Originally posted by: BoberFett

Originally posted by: LegendKiller
Not that you would care, but people are losing jobs up here. One of my coworkers was laid off yesterday. I had dinner with a friend who worked at Lehman, lost 90% of wealth that was locked up in LEH stock.

Good. People in your sector should be losing everything.

Don't single out LK's profession, people are going to be hurt in every sector.
It is going to get real nasty for everyone.......

 

[nergee]

"No, again dead wrong. They're propping up institutions to provide loans for businesses that
need the money to continue paying and hiring workers. They're propping up banks that need
to keep a certain amount of liquidity to stay in business and not fail their depositers.
This is basic econ 101, and you failed it.""

Bernanke and Paulson think that the Fed buying toxic garbage will get institutions to start lending. It won't.
Banks will still be holding more crap than the Fed can possibly buy. The market has already figured this out,
even if the rules are changed to allow banks to pretend that this crap is worth something.

Banks have no reason to lend in a world of overcapacity, rising unemployment, and downright fuked consumer attitudes.
It was disingenuous at best to suggest this would free up lending for main street as it was packaged......IMO

 

[BoberFett]

Originally posted by: LegendKiller

Originally posted by: BoberFett

Originally posted by: LegendKiller
Not that you would care, but people are losing jobs up here. One of my coworkers was laid off yesterday. I had dinner with a friend who worked at Lehman, lost 90% of wealth that was locked up in LEH stock.

Good. People in your sector should be losing everything.

I am sure that if you believe in God, he'll save a nice place in hell for you for thinking thoughts like that.

People are still people, most have worked very hard to get what they have/had. To wish ill upon achievement is not righteous nor correct.

I am sure you probably don't understand, but investment banking does have a function and will always have one.

Not when its function is running the economy into the ground. Who was it again that funneled everything into low interest rate, long term loans (i.e., mortgages) and manufactured this "crisis?" Oh yeah, that's right, investment bankers. You made your bed, now lie in it.

 

[BoberFett]

Originally posted by: nergee

Originally posted by: BoberFett

Originally posted by: LegendKiller
Not that you would care, but people are losing jobs up here. One of my coworkers was laid off yesterday. I had dinner with a friend who worked at Lehman, lost 90% of wealth that was locked up in LEH stock.

Good. People in your sector should be losing everything.

Don't single out LK's profession, people are going to be hurt in every sector.
It is going to get real nasty for everyone.......

How is that possible? They passed the bailout bill.

 

[Moonbeam]

Responsibility is a good thing and paying for the consequences of ones actions are a part of that. Overzealousness in the pursuit of punishment, however, can lead to a fanatical blindness in which one punishes himself to hurt somebody else.

I think there is a movie out about a guy that beat Chrysler for stealing his design and waited 10 years to cash his 18 million dollar settlement because he was pissed the judge didn't hurt them more.