Republicans blew up the deal

#3
#3
I waiver on it. So many things to complain about with it, but so many people seem to think its a disaster if it doesn't happen.
 
#4
#4
that blog cements it. The Rs are killing the deal. Paulson's I know was very telling.
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#5
#5
lawgator1 said:
I waiver on it. So many things to complain about with it, but so many people seem to think its a disaster if it doesn't happen.
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I posted on it yesterday and dont want to get started again. But it is a bad deal and as unAmerican as anything I can think of. Both parties should be ashamed of themselves. I almost puked listening to W last night. There should be hearings and investigations and people should go to jail.
 
#6
#6
VolBeef88 said:
I posted on it yesterday and dont want to get started again. But it is a bad deal and as unAmerican as anything I can think of. Both parties should be ashamed of themselves. I almost puked listening to W last night. There should be hearings and investigations and people should go to jail.
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for what?
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#21
#21
Right now do we really need a knee jerk bail out just to prop up the market? Lets take our time and get this right so we aren't doing it again this time next year.
 
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#22
#22
Lexvol said:
Right now we really do we really need a knee jerk bail out just to prop up the market? Lets take our time and get this right so we aren't doing it again this time next year.
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my guess is that Paulson and bernanke and Co have been at this for a long time. The problem is that the politicians can't help themselves.
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#23
#23
I've read a little more of Buffet's take at your recommendation.

I'm not an economist. I remember talking to a few broker friends of mine much earlier this decade. Houses were popping up everywhere like crabgrass.

When I mentioned the fact that most of my friends (then in their late 20s and early 30s) were living the high life on credit. I asked them what would happen when it was time to pay the piper. Both of them were pretty coy in there response.

It was frustrating to talk to them on some level because it seemed that regardless of market performance they were secure. Too many risks had been taken out of their business. They got paid regardless.

The way I see it now is that it is time to pay the piper. I understand the desire for the Fed to keep the economy propped. As much as the rest of the world is looking for us to crash and burn, the global economy hinges on our well being.

However, when the rescue deal is made, I want it to be a bare bones package. Lets do just enough to keep things going. Lets not overspend to make those who have dug a whole for themselves off too freely.

I also realize that most of this is tied to the risk assumed when they began to lump high risk mortgages in securities. Even then the poorer people got their houses and Fannie and Freddie fed their coffers. Their was simply not enough risk to keep the sheets on balance.

Speculation, investment, and carelessness with cash is only going to continue, and the paper tiger is only going to get bigger if we keep removing the risk. Especially for the big money cats.
 
#25
#25
I'm glad the GOP scuttled the deal yesterday. It contained 100 million bucks for Obama's buddies at ACORN, plus it did nothing to stop subprime lending.
 
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