US unveils new $1.5 trillion bank bailout plan.

[miketheidiot]

Originally posted by: BoberFett
This shit keeps getting funnier.

Let me guess, Bush's bailout was bad, but this one will be good?

Let the partisan hackery commence.

both were good, although i'm not sure enough on the specifics of this one to give an exact opinion.

 

[Ozoned]

Originally posted by: jamesall
I'm just worry about postbailout when there is a substantial inflation due Barak's bailout plan. We're F**K!

Substantial inflation would put the housing value problems behind us, wouldn't it?

 

[StageLeft]

Originally posted by: ElFenix
did brooks hit on another prediction?

It wasn't a hard one to hit on, though

Substantial inflation would put the housing value problems behind us, wouldn't it?

Yep, but housing is not the problem here, it's merely a symptom of it. You can stop a person from having leg pain by cutting their legs off, but they're not any better for it. Unless they are trying to get a world record for pull-ups!

 

[theeedude]

You can thank the people who were for deregulating industries that have to be regulated to protect the tax payers. Now we have no choice but to pretty much nationalize the banking sector, because of the magnitude of its stupidity over last few years.

 

[OCGuy]

Originally posted by: senseamp
You can thank the people who were for deregulating industries that have to be regulated to protect the tax payers. Now we have no choice but to pretty much nationalize the banking sector, because of the magnitude of its stupidity over last few years.

Why did a democratic congress let that happen?

 

[BuckNaked]

Text

 

[nageov3t]

if it can actually help force the banks to start lending again... good.

 

[bamacre]

Originally posted by: senseamp
You can thank the people who were for deregulating industries that have to be regulated to protect the tax payers. Now we have no choice but to pretty much nationalize the banking sector, because of the magnitude of its stupidity over last few years.

And don't forget Greenspan and his low interest rates.

 

[frostedflakes]

Originally posted by: Fern
Back during the (1st) original fed bailout proposal to "buy" these toxic assets from banks many problems were identified (how to value etc); so are we to believe they have solved these?

I still don't understand why they don't correct the mark-to-market accounting rule problem that cause all this crap in the first place. The 'fix' to Enron type problems has killed our financial sector and economy. Enron itself didn't cause any where near this level of financial loss.

Fern

My understanding is that mark-to-market was to be addressed in this program. Can anyone confirm?

 

[First]

If it's eventually expanded to $1T that should further help unfreeze credit, which is especially needed in recessions when new ideas get their start in the form of small start-ups. As long as it's big enough, it should be successful in preventing major sell-offs for the medium term much like the first bailout helped to avoid a major crash.

 

[DealMonkey]

Originally posted by: Ozoned

Originally posted by: DealMonkey
Why doesn't Geithner convene a meeting between himself and the CEO's of the 10-20 largest U.S. banks and get everyone on the same page. I don't think it matters how much cash you throw at the banks, they're simply not behaving in a coordinated manner to unfreeze this credit issue we're having.

:Q Not a bad idea. It has worked before.

Looks like I can answer my own question:

The heads of BofA, Citi and six other banks that got the first round of TARP funds appear before Congress Wednesday.

http://money.cnn.com/2009/02/1...postversion=2009021017

I betcha they get a stern talking to.

 

[DealMonkey]

Remember too, people, that we're buying toxic assets, but they're STILL assets. We may spend $1 Trillion, or $1.5 Trillion, or really who cares how much we spend at this point? But! We will get much, if not all, of that cash back when things normalize over time. Hell, we may even make a profit. Especially if we can get another housing bubble going. Heh.

 

[StageLeft]

Originally posted by: DealMonkey
Remember too, people, that we're buying toxic assets, but they're STILL assets. We may spend $1 Trillion, or $1.5 Trillion, or really who cares how much we spend at this point? But! We will get much, if not all, of that cash back when things normalize over time. Hell, we may even make a profit. Especially if we can get another housing bubble going. Heh.

I literally lol, you are joking, right? Can I sell you this lotto ticket for the $10M drawing on Friday? I'll give it to you for a mere $100k, you can't lose.

 

[moparacer]

I have a little bit of advice for the Obama administration. If you do NOT have a plan in place do NOT hold a press conference and refer questions about the said plan to the next press conference then let your Treasury Secretary show up at that press conference and remind the public that you have NO plan then proceed to tell the public that a solution is not going to be easy....

SKIP THE PRESS CONFERENCES ALTOGETHER OK????

 

[gevorg]

I bet China will be happy to hear about another $1.5 trillion bailout.

 

[DealMonkey]

Originally posted by: Skoorb

Originally posted by: DealMonkey
Remember too, people, that we're buying toxic assets, but they're STILL assets. We may spend $1 Trillion, or $1.5 Trillion, or really who cares how much we spend at this point? But! We will get much, if not all, of that cash back when things normalize over time. Hell, we may even make a profit. Especially if we can get another housing bubble going. Heh.

I literally lol, you are joking, right? Can I sell you this lotto ticket for the $10M drawing on Friday? I'll give it to you for a mere $100k, you can't lose.

So we're not going to make a profit? :laugh:

 

[OCGuy]

Originally posted by: BuckNaked
Text

:laugh:


Thanks, I needed a laugh.

 

[imported_K3N]

Tax Revenues from Oil Sales are down 75% for the the States of America. Main downside with low gas prices

http://www.youtube.com/watch?v=flUwh3t2_lQ

 

[Ozoned]

Originally posted by: Ocguy31
Basically, we're f*cked.

Not yet, There's only a 30% Chance They are Going to Get It Wrong

 

[RichardE]

I wonder if there is anyway Canada can dump its goods on the Asian/European market..hmm

 

[moparacer]

Originally posted by: gevorg
I bet China will be happy to hear about another $1.5 trillion bailout.

Tickled Pink .....

http://www.bloomberg.com/apps/..._dsDz145J_A&refer=asia

 

[StageLeft]

Originally posted by: DealMonkey

Originally posted by: Skoorb

Originally posted by: DealMonkey
Remember too, people, that we're buying toxic assets, but they're STILL assets. We may spend $1 Trillion, or $1.5 Trillion, or really who cares how much we spend at this point? But! We will get much, if not all, of that cash back when things normalize over time. Hell, we may even make a profit. Especially if we can get another housing bubble going. Heh.

I literally lol, you are joking, right? Can I sell you this lotto ticket for the $10M drawing on Friday? I'll give it to you for a mere $100k, you can't lose.

So we're not going to make a profit? :laugh:

Self-pwnage, I was already in such a blather that I missed the last sentence and the "heh"

I wonder if there is anyway Canada can dump its goods on the Asian/European market..hmm

Too late, Canada's greatest resource already made it to the US when I moved down here

 

[brandonbull]

Originally posted by: DealMonkey
Remember too, people, that we're buying toxic assets, but they're STILL assets. We may spend $1 Trillion, or $1.5 Trillion, or really who cares how much we spend at this point? But! We will get much, if not all, of that cash back when things normalize over time. Hell, we may even make a profit. Especially if we can get another housing bubble going. Heh.

Taxpayers are putting up the money today in hopes of buying these assets from ourselves for a profit in the future. I hope the profit we make from these assets will be enough to cover inflation.

 

[silverpig]

I've got a great idea. I'll throw all the money I've got into buying up this bad debt (public-private bailout fund), then, if the investment goes sour, I'll just get bailed out myself!

 

[charrison]

a trillion here, a trillion there, pretty soon you are talking about real money....