A GOOD START!

I congratulate those brave souls in Congress today who did the unthinkable - they sided with the voters.  The MIddle Class won a small victory today.

Who made all the money from risky loans?  Wall Street.  Who was asked to pay for the losses from taking on too much risk?  The voters.

Who isn't able to get a loan right now?  Main Street.  Who is being asked to fund Wall Streets losses?  Main street.

Congress did the right thing.

OK, so your house is worth less than you paid.  Who's fault is that?  Your fault. 

Is the answer to our problems to start pumping in billions in taxpayer money to continue to prop up an overpriced housing market fueled by reckless credt lending?  No.  Who should benefit from buying affordable real estate at affordable prices down the road?  Everybody who wasn't greedy and decided to overextend themselves.  Fair is fair.

We need a correction.  Frankly the stock market is STILL too high.  All this talk about DEPRESSION - I can't help but notice the stock market is STILL higher than it was just a few years ago.  If things are SOOOO horrible then why are the stock markets still showing we are doing better than than the heady days of the Internet bubble?  Unprofitable businesses that need to die off, will die off.

Middle-class tax payers can rejoice.  I'm happy.  Now, what do we need next?  How about The Government investing in new energy investments like nuclear, wind, solar and new job-creating industries that build up the economy?  Forget throwing good taxpayer money after bad wall street investments.  Forget those f*ckers.  It's time to THING BIG and invest in a New America.  Today was a good start.  I'd rather live in my car, then see us continue business as usual. 

Wake up and smell the coffee - it's the beginning of a new Republican party of Small governemtn.  It's the Democrats realizing that the Free Ride on Wall STreet is over.  It's time to put America first.  Today was a ray of hope.

Yep, 777 is a small price to pay for no more 'business as usual'.  The next step is a New American Economy.  The sky is no longer falling.  We are close to the bottom.  All good news.

 

 

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"Hearts will never be practical until they can be made unbreakable."

A year ago I warned the economy was going down the toilet and warned of a depression....y'all said things are fine.

A month ago I warned that Palin was a horrible choice for McCain's VP....y'all said Palin is fine.

A week ago I said taxing me another $700 billion to pay for a party on Wall Street that I wasn't invited to was a big mistake....nobody responded.

I''m done here. 

Goodbye.

 

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"Hearts will never be practical until they can be made unbreakable."

James Bond:

 

I''m done here. 

Goodbye.

 

moving to France? 

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Actually we were the ones saying the problems haven't started yet, I think 412, KGBman, etc said they don't see a turnaround til 2009.   I said I don't even see it in 2009.  We'll be lucky w a flat year. Official recession doesn't even start, by the way until next 2 quarters GDP comes in. That's already 2009.

In the meantime you were telling people here its a good time to buy a house. 

Short memory?

This isn't a televised debate, fact checking is done on the spot here, Mr. Bond

On the other stuff.. Palin is fine, McCain wouldn't be where he is w/o her.  Remember, he is not really supposed to win anyway.

Agree w you about the bailout..  But would note that it happened for the same psychological reasons that Obama is winning.  You can't always have mass hysteria work to your advantage, you know   

Or did you want that money distributed among the proletariat, if I understand correctly?  

Good luck getting past your exploiters.

Capitalist pigs....

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"Я это понимаю на рациональном уровне, но не могу принять на эмоциональном" --Бизнесмен Борис Березовский

I'm not for rush actions and generaly tolerant to capitalizm, but someone needs to shoot those m...f...rs from AIG who went on a spa trip....

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- Независимость - это когда в 20-й раз наступаешь на одни и те же грабли, а русские уже ни при чем....

I am sure, for them - explaining spa trips to a country of enraged bolsheviks is not an intensely pleasant experience either!

This is why baylouts are a mistake..  They rely on ethics in people who are not expected to have ethics by the very economic system they function in. Ethics has never been their role, that's not how the system is designed.  For ethics, we have regulation. 

Capitalism and prosperity across the population does not rely on ethics of corporate executives.  It does rely on their aversion to risk.  Which is removed by bailouts and lack of regulation of compensation from failed ventures. 

So let em get a spa treatment one last time before they are thrown in prisons and replaced with intensely effective (and, of course, much more ethical) mid level governemnt beurocrats.

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________________________________________
"Я это понимаю на рациональном уровне, но не могу принять на эмоциональном" --Бизнесмен Борис Березовский

Egor:

one last time before they are thrown in prisons

 

do u think any of them will ever end up in prison?

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I was exaggerating mostly.. but some will... some have..

i'd be scared shitless and getting my fill of spa treatments and pedicures while i can.

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________________________________________
"Я это понимаю на рациональном уровне, но не могу принять на эмоциональном" --Бизнесмен Борис Березовский

me don;t think any of them will go to jail.... last time I checked speculation wasn't illegal here and greed was still called "fuel of the economy" ;)

My question is : should we start buying gold and stock up on non-perishable food items or when US defaults it does it less painfull ?

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- Независимость - это когда в 20-й раз наступаешь на одни и те же грабли, а русские уже ни при чем....

Why is it that whenever i get drunk I have an overwhelming urge to visit russianatlanta.net?  It's not because of the women.  And Egor isn't looking any better.

Let me tell you the situation we are in, and where we are headed.........I'll try and keep this short cuz it's hard to type drunk....

First there were the lenders giving out subprime loans, jumbo loans and conforming loans.  All good things to move good people (yes, that means you whether you are a subprime, rich or normal kind of buyer...you are still 'good'...right?).  Being One who believes we are all part of The One, I believe we are all good.  lol

Anyway for all conforming loans, which means you are a good credit risk, those loans were made by thousands of lenders and resold to....Freddie Mae/Fannie Mac.  Now, why do I tell you this?  because the Republican-backed groups (I voted for Bush) are making out Freddie Mae/Fannie MAc to be the bad guys.  Which they were not.  Why?  Because they bought the BEST loans.  Let me repeat that for any idiots (that means anybody not Russian) that reads this - Freddie/Fanny bought all the BEST loans.  Yes, they were highly leveraged.  so was Iceland.  Is that a crime? 

Now, you may ask, well where did all the sh*tty subprime loans go?  Where did those big fat 'speculative' (now we can say that) go?  Uhm....Lehman brothers.  Yeah, they were buying all the crap and reslling it all over the world, but guess what?  They kept some. How stupid was that?  Or maybe I should say...they didn't re-sell the 'toxic' crap fast enough, and so....when the market realized that the packager of subprime mortgages wsas going to bring down THE ENTIRE WORLD ECONOMY they got what they deserved.

So where are we?

Don't think that The Powers that be, can't really figure out who/what/when/where/why has the bad loans.  As always, Big Brother will determine who survives and who gets bailed out.  Y'all can be proud, as we nationalize our financial system, that nationalism is a great business model.  Capitalizm as a definition is no longer valid - greed can NOT be controlled. 

One good question - should those that made over $100 million, and I mean individuals, pay an extra tax?  An "I screwed the entire US tax"?  Inquiring minds want to know....

 

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"Hearts will never be practical until they can be made unbreakable."

I almost forget to mention how we fix this mess....the economy...

so as I mentioned, the Govt has the power to invest the money in whatever it wants...

What If...

And this may seem too incredible to believe...

What if we invested in JOBS in America.  (mk?  lol)

What if we invested in creating JOBS in America, and that we started unfreezing the credit markets by investing in banks that lended to businesses that HIRED americans instead of outsourcin and offshoring.

geezus christ...how horrible would that be. how horrible would it be to re-invest in the american worker and re-start job creation in the USA and re-start spending.

too crazy.

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"Hearts will never be practical until they can be made unbreakable."

I call it a sale, come get some stocks really cheap!

btw, those dumb***es in Congress did it again, to have leverage over the bankers and not use it is incredible and just give them a bunch of cash, is ridiculous. Here you go, kids, go play with our money again and we are not going to stick our noses in your business what's so ever? Generally I am against regulations, but here they clearly should have pushed to issue some form of a bond or a stock option since we are being taxed on this as a form of return on the investment.

oh, and on a separate note, if anyone here still thinks that either of the candidates will lower the taxes, think again. I mean where are they going to get the money to do that?

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Свободу попугаям!

bobik3000:

oh, and on a separate note, if anyone here still thinks that either of the candidates will lower the taxes, think again. I mean where are they going to get the money to do that?

easy - they print it ;)

the whole thing (i mean economy) stinks.  we owe way too much and spending more trillions saving businesses that no one cares about is not going to help.....

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- Независимость - это когда в 20-й раз наступаешь на одни и те же грабли, а русские уже ни при чем....