I just spent half an hour on the phone with my close friend at ML. I asked him about the bailout. He said it shouldn't happen. He told me the Fed has unlimited amounts of money that they will lend all comers at 2%. The problem is the big companies all want the money for free and they want the taxpayers to take on all the bad loans they have given in the past 10 years. they want to walk away from the debt and let the taxpayer take it up the ass. The losses on Wall Street are also being caused by traders buying short. He felt it will turn around but giving $700 Billion to Paulson with no strings is insanity and it will only benefit the Ultra Wealthy. I asked him about the $5 Billion Buffet invested. His take was Buffet bought in cheap, hoping the bailout would raise the stock and he could make a couple of hundred million for a few days investment. Nothing is going to change he said until the government demand accountability by Wall Street and that the cream is not licked off by the fat cats. Yes there are problems he said, but, they were caused by the same fat cats who loaned money to everybody who showed up at the window. They loaned more money than homes were appraised at. They loaned more money on cars than people had to pay back and everything worked fine until the housing values crashed and people had to refinance. Their equity was gone and the home they mortgaged for $400K was not only worth $250K so they walked away and left the banks holding the bag of shit. Now the banks want someone else to pick up the worthless loans. He agreed with me that the $700 Billion would be better spent investing in bridges, roads, infrastructure that has gone underfunded since Regan. Put Americans back to work, they will pay taxes and the country will come back. Giving the money to the richest 1% with no regulation or control is like letting Bremmer get $10 billion in cash and we all know how that turned out.
FunMe
· 1 year ago
What does republican "strategist" mean?
Spinster maybe?
Republican WHORE?
And yup, an Abramoff clone defending McCain. How does that go? ROMLAFO? (or something like that)
Soundboy_jeff_meanie
· 1 year ago
LOL
could imagine having a conversation along this vein:
"What do you do for a living?"
"I'm a republican strategist."
"Oh really? How much for a blowjob?"
.
Wild_Weasel
· 1 year ago
Treasury staff said that the $700 billion number was a guess.
Paulson said he doesn't know what it will take to fix the meltdown.
What if we put up $700 billion, and later it turns out they need more, and more?
FunMe
· 1 year ago
You mean like the Iraq war? they want more and more $$
Webster
· 1 year ago
But, but ... the oil revenues paid for the war, remember? It won't cost us any more than 3 billion, remember? We were out by Christmas of 2003 anyway. (After being greeted as liberators.)
Soundboy_jeff_meanie
· 1 year ago
3 billion? I thought it was supposed to cost 600 million?
umm, BTW, sorta OT... did they ever get that body armor and upgraded armored vehicles that were 'on the way' three years ago?
Wild_Weasel
· 1 year ago
TAX the lobbyists like Abramoff and his friends who got us into this fix.
Wild_Weasel
· 1 year ago
Why can't we have a bottom-up fix, instead of a top-down fix? We already know that "trickle down" is a fraud.
Why can't the fed buy all the assets of a failing corporation, instead of just the crap debt? That's what big corporations do when they buy up a failing business. They don't just buy up the the bad assets.
An_American_Karol
· 1 year ago
"Gallup Daily: Obama Maintains 8-Point Lead NEW September 29, 2008 Barack Obama continues to lead John McCain by eight percentage points in the latest Gallup Poll Daily tracking update, 50% to 42%, which includes two nights of interviewing after Friday’s presidential debate." http://www.gallup.com/poll/election2008.aspx
Wow, he is a super corruptionist. He is very tied to the Abramoff scandal and he is one of the many "baby Jacks" still plying the corruptionist trade through the hallways and byways of Capital Hill.
Cheers
okojo
· 1 year ago
My Guess is that he is connected to Rep. Cantor who desperately wants to be Minority Leaders, and my guess was behind the revolt.
Soundboy_jeff_meanie
· 1 year ago
"I'm not in jail, so therefore I'm a vaild voice in the repugnican political machine" - various GOP members
All Comments
Spinster maybe?
Republican WHORE?
And yup, an Abramoff clone defending McCain.
How does that go? ROMLAFO? (or something like that)
could imagine having a conversation along this vein:
"What do you do for a living?"
"I'm a republican strategist."
"Oh really? How much for a blowjob?"
.
Paulson said he doesn't know what it will take to fix the meltdown.
What if we put up $700 billion, and later it turns out they need more, and more?
umm, BTW, sorta OT... did they ever get that body armor and upgraded armored vehicles that were 'on the way' three years ago?
Why can't the fed buy all the assets of a failing corporation, instead of just the crap debt? That's what big corporations do when they buy up a failing business. They don't just buy up the the bad assets.
September 29, 2008
Barack Obama continues to lead John McCain by eight percentage points in the latest Gallup Poll Daily tracking update, 50% to 42%, which includes two nights of interviewing after Friday’s presidential debate."
http://www.gallup.com/poll/election2008.aspx
Someone catch the lights...lol
Wow, he is a super corruptionist. He is very tied to the Abramoff scandal and he is one of the many "baby Jacks" still plying the corruptionist trade through the hallways and byways of Capital Hill.
Cheers
- various GOP members
http://www.huffingtonpost.com/marty-kaplan/why-...