House Republican Economic Rescue Principles

[newnameman]

Originally posted by: LegendKiller

Originally posted by: Ocguy31

Originally posted by: LegendKiller

Originally posted by: Ocguy31
F*ck the bailout. Republicans are doing something right for the first time in 4 years.

Do you know what you're even talking about?

No, please enlighten me. There were a core group of House Republicans that put a wrench in the already announced bailout this evening, due to concerns of the government getting involved in the private financial sector. I applaud this.

So I ask you, what the hell are you talking about?

If the Fed doesn't keep liquidity in the system, were are companies going to get money? Do you even understand how the Great Depression started?

It was this exact problem.

The Republicans are too late. They fucked over the economy by letting this shit happen. Their mantra of "deregulation" put us into this system. They sucked off the banks, mortgage lenders, and investors, for 7 years. Now they don't want to fix what they broke.

Personally, I think that they're shooting themselves in the dick. Once we hit another great depression the US public will clamor for a democrat candidate, akin to FDR, and the Repugs will wallow in their shit for the next 20 years as they are maligned like Hoover was.

What's funny is that a Republican President lead us into the first Great Depression and another one leads us into this one. Great job, jackasses.

Perhaps you should read up on history.

Coolidge

Many later criticized Coolidge as part of a general criticism of laissez-faire government.[4] His reputation underwent a renaissance during the Reagan administration,[5] but the ultimate assessment of his presidency is still divided between those who approve of his reduction of the size of government and those who believe the federal government should be more involved in regulating the economy.[6]

Hoover

That position was challenged by the Great Depression, which began in 1929, the first year of his presidency. Hoover tried to combat the Depression with volunteer efforts and government action, none of which produced economic recovery during his term. The consensus among historians is that Hoover's defeat in the 1932 election was caused primarily by failure to end the downward spiral into deep Depression, compounded by popular opposition to prohibition. Other electoral liabilities were Hoover's lack of charisma in relating to voters, and his poor skills in working with politicians.

Guess what? It was the retard Republicans in Congress who lead us to the last Depression too!

Oh come on, I know you can do better than quoting Wikipedia.

 

[LegendKiller]

Originally posted by: newnameman

Originally posted by: LegendKiller

Originally posted by: Ocguy31

Originally posted by: LegendKiller

Originally posted by: Ocguy31
F*ck the bailout. Republicans are doing something right for the first time in 4 years.

Do you know what you're even talking about?

No, please enlighten me. There were a core group of House Republicans that put a wrench in the already announced bailout this evening, due to concerns of the government getting involved in the private financial sector. I applaud this.

So I ask you, what the hell are you talking about?

If the Fed doesn't keep liquidity in the system, were are companies going to get money? Do you even understand how the Great Depression started?

It was this exact problem.

The Republicans are too late. They fucked over the economy by letting this shit happen. Their mantra of "deregulation" put us into this system. They sucked off the banks, mortgage lenders, and investors, for 7 years. Now they don't want to fix what they broke.

Personally, I think that they're shooting themselves in the dick. Once we hit another great depression the US public will clamor for a democrat candidate, akin to FDR, and the Repugs will wallow in their shit for the next 20 years as they are maligned like Hoover was.

What's funny is that a Republican President lead us into the first Great Depression and another one leads us into this one. Great job, jackasses.

Perhaps you should read up on history.

Coolidge

Many later criticized Coolidge as part of a general criticism of laissez-faire government.[4] His reputation underwent a renaissance during the Reagan administration,[5] but the ultimate assessment of his presidency is still divided between those who approve of his reduction of the size of government and those who believe the federal government should be more involved in regulating the economy.[6]

Hoover

That position was challenged by the Great Depression, which began in 1929, the first year of his presidency. Hoover tried to combat the Depression with volunteer efforts and government action, none of which produced economic recovery during his term. The consensus among historians is that Hoover's defeat in the 1932 election was caused primarily by failure to end the downward spiral into deep Depression, compounded by popular opposition to prohibition. Other electoral liabilities were Hoover's lack of charisma in relating to voters, and his poor skills in working with politicians.

Guess what? It was the retard Republicans in Congress who lead us to the last Depression too!

Oh come on, I know you can do better than quoting Wikipedia.

Simple and effective. It's the truth. Coolidge was an idiot, he deregulated throughout the 20s and let the finance industry run wild. Sound familiar?

Then, in response to the potential crisis, he stuck his head in the sand. Hoover screamed that we needed to protect the dollar and cut off the banks from liquidity.

Yeah, "hands off government" is so great.

At least they are consistent.

 

[Veramocor]

It looks like the only problem is house republicans, and however, you don't need them to pass this legislation. The senate is for it as far as i can tell (at least filibusterer proof), and you only need a simple majority to pass it through the house. The house democrats just don't want to pass it themselves and get stuck with the blame if it fails.

 

[OCGuy]

Originally posted by: LegendKiller

Originally posted by: Ocguy31

Originally posted by: LegendKiller

Originally posted by: Ocguy31
F*ck the bailout. Republicans are doing something right for the first time in 4 years.

Do you know what you're even talking about?

No, please enlighten me. There were a core group of House Republicans that put a wrench in the already announced bailout this evening, due to concerns of the government getting involved in the private financial sector. I applaud this.

So I ask you, what the hell are you talking about?

If the Fed doesn't keep liquidity in the system, were are companies going to get money? Do you even understand how the Great Depression started?

It was this exact problem.

The Republicans are too late. They fucked over the economy by letting this shit happen. Their mantra of "deregulation" put us into this system. They sucked off the banks, mortgage lenders, and investors, for 7 years. Now they don't want to fix what they broke.

Personally, I think that they're shooting themselves in the dick. Once we hit another great depression the US public will clamor for a democrat candidate, akin to FDR, and the Repugs will wallow in their shit for the next 20 years as they are maligned like Hoover was.

What's funny is that a Republican President lead us into the first Great Depression and another one leads us into this one. Great job, jackasses.

Perhaps you should read up on history.

Coolidge

Many later criticized Coolidge as part of a general criticism of laissez-faire government.[4] His reputation underwent a renaissance during the Reagan administration,[5] but the ultimate assessment of his presidency is still divided between those who approve of his reduction of the size of government and those who believe the federal government should be more involved in regulating the economy.[6]

Hoover

That position was challenged by the Great Depression, which began in 1929, the first year of his presidency. Hoover tried to combat the Depression with volunteer efforts and government action, none of which produced economic recovery during his term. The consensus among historians is that Hoover's defeat in the 1932 election was caused primarily by failure to end the downward spiral into deep Depression, compounded by popular opposition to prohibition. Other electoral liabilities were Hoover's lack of charisma in relating to voters, and his poor skills in working with politicians.

Guess what? It was the retard Republicans in Congress who lead us to the last Depression too!

Do you know what a fiat currency is? So you know what happens when we run the printers 24/7, and borrower money left and right? We are all going to be wiping our ass with Franklins.

I say we let the banks that got in over thier heads fail or be bought up, and take whatever consequenses come with it. Our tax dollars shouldnt be put up for this bullshit.

 

[First]

Without a massive capital infusion and increase in the money supply you'd have crippling contractions in GDP, wages, and investment expectations. We'd likely lock in a small generation of U.S. investors with overly cautious expectations on risking assets in equity investment, much the way we locked in an overly-cautious generation until the 1960's due to the crippling nature of the 1929 crash and Depression. This is what a lot of these loony laissez-faire laymans don't get; the investment-related expectations of the public are just as big a concern as practically anything else, be it recapitalizing firms or getting rid of toxic debt. To claim some oversimplified yeoman nonsensical solution like "moral hazard" or "gov't intrusion = bad" is absurd.

Bottom line; there's no way you can "let" these institutions fail or, even worse, end up doing no bailout whatsoever (gov't-assisted or not) without entering into an inevitable multi-year or even decade-long domestic financial slowdown. Of course, this is to say absolutely nothing of how foreign nations would react to our slowdown; our decisions will have a direct impact on global market expectations like you wouldn't believe.

To all these dolts, especially the fantasy-land far right Republican nuts in Congress that dare to put this country in jeopardy by threatening to not pass any bill whatsoever (by filibustering), due to misguided ideological BS about the evil of gov't bailout, I say shame on you. Put your country first you rejects, otherwise you without question risk a global fucking depression.

EDIT: Also, Newt Gingrich has truly lost it. Parroting this same inane crap on Fox tonight, going so far as to challenge Bernanke and Paulson (despite having zero training in finance or economics). This guy oozes more partisan hackery than any man alive. He should have stay retired from public view after getting booted by his own party for petty Clinton revenge politics in 99.

 

[bamx2]

A couple of good links for discussions on this subject -

http://globaleconomicanalysis....res-continue-gold.html


http://calculatedrisk.blogspot.com/ . Click on the comments of whatever post thread is on top. There is rolling chat like discussion on this subject using Haloscan .

 

[LegendKiller]

Originally posted by: Ocguy31

Originally posted by: LegendKiller

Originally posted by: Ocguy31

Originally posted by: LegendKiller

Originally posted by: Ocguy31
F*ck the bailout. Republicans are doing something right for the first time in 4 years.

Do you know what you're even talking about?

No, please enlighten me. There were a core group of House Republicans that put a wrench in the already announced bailout this evening, due to concerns of the government getting involved in the private financial sector. I applaud this.

So I ask you, what the hell are you talking about?

If the Fed doesn't keep liquidity in the system, were are companies going to get money? Do you even understand how the Great Depression started?

It was this exact problem.

The Republicans are too late. They fucked over the economy by letting this shit happen. Their mantra of "deregulation" put us into this system. They sucked off the banks, mortgage lenders, and investors, for 7 years. Now they don't want to fix what they broke.

Personally, I think that they're shooting themselves in the dick. Once we hit another great depression the US public will clamor for a democrat candidate, akin to FDR, and the Repugs will wallow in their shit for the next 20 years as they are maligned like Hoover was.

What's funny is that a Republican President lead us into the first Great Depression and another one leads us into this one. Great job, jackasses.

Perhaps you should read up on history.

Coolidge

Many later criticized Coolidge as part of a general criticism of laissez-faire government.[4] His reputation underwent a renaissance during the Reagan administration,[5] but the ultimate assessment of his presidency is still divided between those who approve of his reduction of the size of government and those who believe the federal government should be more involved in regulating the economy.[6]

Hoover

That position was challenged by the Great Depression, which began in 1929, the first year of his presidency. Hoover tried to combat the Depression with volunteer efforts and government action, none of which produced economic recovery during his term. The consensus among historians is that Hoover's defeat in the 1932 election was caused primarily by failure to end the downward spiral into deep Depression, compounded by popular opposition to prohibition. Other electoral liabilities were Hoover's lack of charisma in relating to voters, and his poor skills in working with politicians.

Guess what? It was the retard Republicans in Congress who lead us to the last Depression too!

Do you know what a fiat currency is? So you know what happens when we run the printers 24/7, and borrower money left and right? We are all going to be wiping our ass with Franklins.

I say we let the banks that got in over thier heads fail or be bought up, and take whatever consequenses come with it. Our tax dollars shouldnt be put up for this bullshit.

Do you know what deflation through credit contraction is?

did you know that deflation is far more harmful than inflation?

This isn't about the banks.

 

[LegendKiller]

Originally posted by: Ocguy31

Originally posted by: LegendKiller

Originally posted by: Ocguy31

Originally posted by: LegendKiller

Originally posted by: Ocguy31
F*ck the bailout. Republicans are doing something right for the first time in 4 years.

Do you know what you're even talking about?

No, please enlighten me. There were a core group of House Republicans that put a wrench in the already announced bailout this evening, due to concerns of the government getting involved in the private financial sector. I applaud this.

So I ask you, what the hell are you talking about?

If the Fed doesn't keep liquidity in the system, were are companies going to get money? Do you even understand how the Great Depression started?

It was this exact problem.

The Republicans are too late. They fucked over the economy by letting this shit happen. Their mantra of "deregulation" put us into this system. They sucked off the banks, mortgage lenders, and investors, for 7 years. Now they don't want to fix what they broke.

Personally, I think that they're shooting themselves in the dick. Once we hit another great depression the US public will clamor for a democrat candidate, akin to FDR, and the Repugs will wallow in their shit for the next 20 years as they are maligned like Hoover was.

What's funny is that a Republican President lead us into the first Great Depression and another one leads us into this one. Great job, jackasses.

Perhaps you should read up on history.

Coolidge

Many later criticized Coolidge as part of a general criticism of laissez-faire government.[4] His reputation underwent a renaissance during the Reagan administration,[5] but the ultimate assessment of his presidency is still divided between those who approve of his reduction of the size of government and those who believe the federal government should be more involved in regulating the economy.[6]

Hoover

That position was challenged by the Great Depression, which began in 1929, the first year of his presidency. Hoover tried to combat the Depression with volunteer efforts and government action, none of which produced economic recovery during his term. The consensus among historians is that Hoover's defeat in the 1932 election was caused primarily by failure to end the downward spiral into deep Depression, compounded by popular opposition to prohibition. Other electoral liabilities were Hoover's lack of charisma in relating to voters, and his poor skills in working with politicians.

Guess what? It was the retard Republicans in Congress who lead us to the last Depression too!

Do you know what a fiat currency is? So you know what happens when we run the printers 24/7, and borrower money left and right? We are all going to be wiping our ass with Franklins.

I say we let the banks that got in over thier heads fail or be bought up, and take whatever consequenses come with it. Our tax dollars shouldnt be put up for this bullshit.

Do you know what deflation through credit contraction is?

did you know that deflation is far more harmful than inflation?

This isn't about the banks.

 

[Hayabusa Rider]

Do you know what double posting is?

Seriously, the Reps are idiots. Government allowed banks to do crap through deregulation, and the "cure"? Deregulate. Collective stupitity FTL.

 

[smack Down]

Originally posted by: LegendKiller

Originally posted by: Ocguy31

Originally posted by: LegendKiller

Originally posted by: Ocguy31

Originally posted by: LegendKiller

Originally posted by: Ocguy31
F*ck the bailout. Republicans are doing something right for the first time in 4 years.

Do you know what you're even talking about?

No, please enlighten me. There were a core group of House Republicans that put a wrench in the already announced bailout this evening, due to concerns of the government getting involved in the private financial sector. I applaud this.

So I ask you, what the hell are you talking about?

If the Fed doesn't keep liquidity in the system, were are companies going to get money? Do you even understand how the Great Depression started?

It was this exact problem.

The Republicans are too late. They fucked over the economy by letting this shit happen. Their mantra of "deregulation" put us into this system. They sucked off the banks, mortgage lenders, and investors, for 7 years. Now they don't want to fix what they broke.

Personally, I think that they're shooting themselves in the dick. Once we hit another great depression the US public will clamor for a democrat candidate, akin to FDR, and the Repugs will wallow in their shit for the next 20 years as they are maligned like Hoover was.

What's funny is that a Republican President lead us into the first Great Depression and another one leads us into this one. Great job, jackasses.

Perhaps you should read up on history.

Coolidge

Many later criticized Coolidge as part of a general criticism of laissez-faire government.[4] His reputation underwent a renaissance during the Reagan administration,[5] but the ultimate assessment of his presidency is still divided between those who approve of his reduction of the size of government and those who believe the federal government should be more involved in regulating the economy.[6]

Hoover

That position was challenged by the Great Depression, which began in 1929, the first year of his presidency. Hoover tried to combat the Depression with volunteer efforts and government action, none of which produced economic recovery during his term. The consensus among historians is that Hoover's defeat in the 1932 election was caused primarily by failure to end the downward spiral into deep Depression, compounded by popular opposition to prohibition. Other electoral liabilities were Hoover's lack of charisma in relating to voters, and his poor skills in working with politicians.

Guess what? It was the retard Republicans in Congress who lead us to the last Depression too!

Do you know what a fiat currency is? So you know what happens when we run the printers 24/7, and borrower money left and right? We are all going to be wiping our ass with Franklins.

I say we let the banks that got in over thier heads fail or be bought up, and take whatever consequenses come with it. Our tax dollars shouldnt be put up for this bullshit.

Do you know what deflation through credit contraction is?

did you know that deflation is far more harmful than inflation?

This isn't about the banks.

Oh the horrors of deflation, you mean I would be able to buy more with my money instead of less.

 

[LegendKiller]

Originally posted by: smack Down
Oh the horrors of deflation, you mean I would be able to buy more with my money instead of less.

LOL. Who says you'll have any money at all?

not to mention, deflation is an ugly process. It destroys the economy. you only have to look at the few examples of it in history, namely the great depression and what happened to japan.

What good is having stronger currency if you can't even earn any currency?

 

[smack Down]

Originally posted by: LegendKiller

Originally posted by: smack Down
Oh the horrors of deflation, you mean I would be able to buy more with my money instead of less.

LOL. Who says you'll have any money at all?

not to mention, deflation is an ugly process. It destroys the economy. you only have to look at the few examples of it in history, namely the great depression and what happened to japan.

What good is having stronger currency if you can't even earn any currency?

Right and how did firing up the print press work for Germany or Zimbabwe?

 

[LegendKiller]

Originally posted by: smack Down

Originally posted by: LegendKiller

Originally posted by: smack Down
Oh the horrors of deflation, you mean I would be able to buy more with my money instead of less.

LOL. Who says you'll have any money at all?

not to mention, deflation is an ugly process. It destroys the economy. you only have to look at the few examples of it in history, namely the great depression and what happened to japan.

What good is having stronger currency if you can't even earn any currency?

Right and how did firing up the print press work for Germany or Zimbabwe?

ZOMG! That's a great one.

Sorry, but if you can't tell the difference between the three situations, you have no businesses discussing this problem.

Go back to trying to explain how the plane wouldn't take off. Your illogical statements are worth more in that worthless conversation.

 

[heyheybooboo]

Originally posted by: halik

Dumb DUMB DUMB DUMBNESS.

Sure you can have PE shops buy it, but they'll want 50%+ IRR. This is a market failure - the pricing mechanism seized. The only way private capital will touch is is enormous discount (ie way below the real price)... so banks will still fold and credit will still seize up

I don't remember where I read it but it the last few months in order to raise capital Merrill Lynch was selling assets at $.20-$.25 on the dollar. I don't know if that was face or book value that already had significant writedown, but it was something like a $30 billion firesale to raise $6-8 billion.

I don't like the idea of Hank Paulson's $700 Billion Golden Bucket of TaxPayer Cash. No one in their right mind does. But as you note when mechanisms seize someone has to step in and grease the wheels.

I don't really care if the Taxpayer makes money as long as we break even. What pisses me off is the extreme profits the fooktards who created this mess stand to make. We deserve to see the hedging and the derivatives and the swaps of the 'moneychangers' who hoisted questionable deals & securities into the market and then bet against them ... and we certainly don't need to reward the dipsticks who bet the wrong way.

 

[smack Down]

Originally posted by: heyheybooboo

Originally posted by: halik

Dumb DUMB DUMB DUMBNESS.

Sure you can have PE shops buy it, but they'll want 50%+ IRR. This is a market failure - the pricing mechanism seized. The only way private capital will touch is is enormous discount (ie way below the real price)... so banks will still fold and credit will still seize up

I don't remember where I read it but it the last few months in order to raise capital Merrill Lynch was selling assets at $.20-$.25 on the dollar. I don't know if that was face or book value that already had significant writedown, but it was something like a $30 billion firesale to raise $6-8 billion.

I don't like the idea of Hank Paulson's $700 Billion Golden Bucket of TaxPayer Cash. No one in their right mind does. But as you note when mechanisms seize someone has to step in and grease the wheels.

I don't really care if the Taxpayer makes money as long as we break even. What pisses me off is the extreme profits the fooktards who created this mess stand to make. We deserve to see the hedging and the derivatives and the swaps of the 'moneychangers' who hoisted questionable deals & securities into the market and then bet against them ... and we certainly don't need to reward the dipsticks who bet the wrong way.

Nothing seized up. Bankers simple ran out of people with a box of money and a bucket of stupid to fleece so now they are trying to fleece the tax payers.

 

[tvarad]

Originally posted by: quest55720
Sounds like they stole some of newt gingrich's ideas on how to get out of this mess. The problem is the democrats would never go along with lowering capital gains and corperate taxes for a few years to get more investment. Newt wants to go as far as getting rid of capitol gains tax for 2 year period to get private money into the market. Sounds better to me than to have the tax payer bail them out. I would make a few exeptions gold and oil would get a raise in the capitol gains tax to prevent a run up in oil prices.

I would assume that the "private money" that you talk about is the money that was sucked out of the system with the CDOs and other swindles? As an analogy, you rob a bank, stash away the money that was never yours and have the red carpet laid for it to be brought back into the system legitimately.

Gee, when will "socialism for me, capitalism for the rest" conservatives learn that their BS is starting to stink big time?

 

[heyheybooboo]

Originally posted by: smack Down

Originally posted by: heyheybooboo

Originally posted by: halik

Dumb DUMB DUMB DUMBNESS.

Sure you can have PE shops buy it, but they'll want 50%+ IRR. This is a market failure - the pricing mechanism seized. The only way private capital will touch is is enormous discount (ie way below the real price)... so banks will still fold and credit will still seize up

I don't remember where I read it but it the last few months in order to raise capital Merrill Lynch was selling assets at $.20-$.25 on the dollar. I don't know if that was face or book value that already had significant writedown, but it was something like a $30 billion firesale to raise $6-8 billion.

I don't like the idea of Hank Paulson's $700 Billion Golden Bucket of TaxPayer Cash. No one in their right mind does. But as you note when mechanisms seize someone has to step in and grease the wheels.

I don't really care if the Taxpayer makes money as long as we break even. What pisses me off is the extreme profits the fooktards who created this mess stand to make. We deserve to see the hedging and the derivatives and the swaps of the 'moneychangers' who hoisted questionable deals & securities into the market and then bet against them ... and we certainly don't need to reward the dipsticks who bet the wrong way.

Nothing seized up. Bankers simple ran out of people with a box of money and a bucket of stupid to fleece so now they are trying to fleece the tax payers.

I'm no financial rocket scientist but clearly you have no understanding of the national interbank liquidity freeze.

 

[smack Down]

Originally posted by: heyheybooboo

Originally posted by: smack Down

Originally posted by: heyheybooboo

Originally posted by: halik

Dumb DUMB DUMB DUMBNESS.

Sure you can have PE shops buy it, but they'll want 50%+ IRR. This is a market failure - the pricing mechanism seized. The only way private capital will touch is is enormous discount (ie way below the real price)... so banks will still fold and credit will still seize up

I don't remember where I read it but it the last few months in order to raise capital Merrill Lynch was selling assets at $.20-$.25 on the dollar. I don't know if that was face or book value that already had significant writedown, but it was something like a $30 billion firesale to raise $6-8 billion.

I don't like the idea of Hank Paulson's $700 Billion Golden Bucket of TaxPayer Cash. No one in their right mind does. But as you note when mechanisms seize someone has to step in and grease the wheels.

I don't really care if the Taxpayer makes money as long as we break even. What pisses me off is the extreme profits the fooktards who created this mess stand to make. We deserve to see the hedging and the derivatives and the swaps of the 'moneychangers' who hoisted questionable deals & securities into the market and then bet against them ... and we certainly don't need to reward the dipsticks who bet the wrong way.

Nothing seized up. Bankers simple ran out of people with a box of money and a bucket of stupid to fleece so now they are trying to fleece the tax payers.

I'm no financial rocket scientist but clearly you have no understanding of the national interbank liquidity freeze.

Solvency criss, even the mob wouldn't lend to people as broke as the banks are. There is no liquidity freeze only insolvent banks that can't get a loan.

 

[BoberFett]

Originally posted by: LegendKiller

Do you know what deflation through credit contraction is?

did you know that deflation is far more harmful than inflation?

This isn't about the banks.

It's called expensive credit, and it's what the US needs. A financial diet.

Or are you one of those who thinks we can spend ourselves to prosperity through credit?

Edit: Typo

 

[halik]

Originally posted by: smack Down

Originally posted by: heyheybooboo

Originally posted by: smack Down

Originally posted by: heyheybooboo

Originally posted by: halik

Dumb DUMB DUMB DUMBNESS.

Sure you can have PE shops buy it, but they'll want 50%+ IRR. This is a market failure - the pricing mechanism seized. The only way private capital will touch is is enormous discount (ie way below the real price)... so banks will still fold and credit will still seize up

I don't remember where I read it but it the last few months in order to raise capital Merrill Lynch was selling assets at $.20-$.25 on the dollar. I don't know if that was face or book value that already had significant writedown, but it was something like a $30 billion firesale to raise $6-8 billion.

I don't like the idea of Hank Paulson's $700 Billion Golden Bucket of TaxPayer Cash. No one in their right mind does. But as you note when mechanisms seize someone has to step in and grease the wheels.

I don't really care if the Taxpayer makes money as long as we break even. What pisses me off is the extreme profits the fooktards who created this mess stand to make. We deserve to see the hedging and the derivatives and the swaps of the 'moneychangers' who hoisted questionable deals & securities into the market and then bet against them ... and we certainly don't need to reward the dipsticks who bet the wrong way.

Nothing seized up. Bankers simple ran out of people with a box of money and a bucket of stupid to fleece so now they are trying to fleece the tax payers.

I'm no financial rocket scientist but clearly you have no understanding of the national interbank liquidity freeze.

Solvency criss, even the mob wouldn't lend to people as broke as the banks are. There is no liquidity freeze only insolvent banks that can't get a loan.

Just stop talking...

 

[Ferocious]

Wow.

And to think I was a Newt fan back in the day. Talk about being young and naive and stupid.

EDIT: I thought this was a funny quote..........

"I didn't know I was going to be the referee for an internal GOP ideological civil war," Frank, D-Mass

 

[CADsortaGUY]

Originally posted by: Ferocious
EDIT: I thought this was a funny quote..........

"I didn't know I was going to be the referee for an internal GOP ideological civil war," Frank, D-Mass

If you haven't realized it by now, Frank think WAY to highly of himself...

 

[Ferocious]

Much of this House GOP 'revolt' is politics.

Only 1/3 of the Senate is up for re-election and even a smaller fraction of the more conservative members of the Senate is up for re-election. Hence no revolt there.

These revolting House GOP members (most of them) want to be sure to come across as NOT being more of the same this November. They don't want to give their Dem opponents ammunition.

 

[heyheybooboo]

Originally posted by: BoberFett

Originally posted by: LegendKiller

Do you know what deflation through credit contraction is?

did you know that deflation is far more harmful than inflation?

This isn't about the banks.

It's called expensive credit, and it's what the US needs. A financial diet.

Or are you one of those who things we can spend ourselves to prosperity through credit?

I think there is some merit in the financial diet - in the long-run. But in the long-run we are all dead, anyway.

Nothing like the Volker diet, mind you, but lowering the discount rate into the ""1s"" was a contributing factor to the mess we are in now. As (if?) the freeze unwinds slowly upping the rate over the next few years and contracting the money supply will be a tough balancing act but might be necessary to save the baby.

Happy days? nah .... but someone needs to take the long view.

 

[halik]

Originally posted by: Ferocious
Much of this House GOP 'revolt' is politics.

Only 1/3 of the Senate is up for re-election and even a smaller fraction of the more conservative members of the Senate is up for re-election. Hence no revolt there.

These revolting House GOP members (most of them) want to be sure to come across as NOT being more of the same this November. They don't want to give their Dem opponents ammunition.

God I hope so...