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 Posted: Fri Sep 26, 2008 5:19 pm
Does anyone else think that giving 700 BILLION dollars to "bail out Wall Street" is a SUCKY idea?
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Posted: Fri Sep 26, 2008 5:22 pm
well to set the record straight, from what i understand this is not a bailout, you are buying mortgages at a fire sale price to later sell it back to the financial institute for either a profit or at equal price. I do not understand everything but to be honest, looking at the situation, the United States needs to act in some way to help it's own economy out or the world, not just the U.S, is looking at the beginnings of a huge economic slow down. But i am just some Italian girl saying this ^^
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Posted: Fri Sep 26, 2008 5:41 pm
it seems to me that if they are going to bail out wall street then its only fair they start helping individuals that need bailing out.
i say they made their bed, they can lie in it. lol
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Posted: Fri Sep 26, 2008 7:49 pm
Folgor well to set the record straight, from what i understand this is not a bailout, you are buying mortgages at a fire sale price to later sell it back to the financial institute for either a profit or at equal price. I do not understand everything but to be honest, looking at the situation, the United States needs to act in some way to help it's own economy out or the world, not just the U.S, is looking at the beginnings of a huge economic slow down. But i am just some Italian girl saying this ^^ This is a fairly accurate assessment of the current situation in the United States of America. But as to a "world-wide economic slow down / crisis" I say... so what?? If the entire planetary economy slows down, who's the creditor?? Who's calling loans due in full and from whom?? If the whole world is in a crisis it's just time for a little (or a lotta) debt forgiveness...
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Posted: Fri Sep 26, 2008 8:00 pm
I think this whole financial pile of poo is sucky. And sorting it out is going to be even suckier. But it has to be done and I think that at the end of the day its going to take just the right mix of government regulation vs. capitalism to make it work. People got too greedy for a while. And the banks were creating markets and trading in markets they didnt fully understand. So while I'm pretty sure it will eventually sort out, it might not be soon. Whoever the next president is, they have a really tough job ahead of them.
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Posted: Fri Sep 26, 2008 8:40 pm
I think it's a temporary solution, a band aid, for a big problem. Sure the government is buying mortgages and giving the banks some breathing space until they get they're economic back in order. But what if it doesn't get back in order as soon as they'd like? The money won't be repayed in full until years, decades have past.
It's not just helping the banks but it's about boosting economics, finding ways to give back to the working class buying power. If nobody can buy products or services there is no market movement, if there's no movement companies have to find ways to stay afloat: cutbacks, layoffs, outsourcing, a lot of other things that don't help people either. Things get more complicated.
It's really a tough nut to crack.
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Posted: Fri Sep 26, 2008 10:22 pm
It sounds like that part in "It's a Wonderful Life" when mean old Mr. Bailey buys up most of the town for a song during the great depression. It's pretty much what happened to my bank. I really feakin' HATE Chase.
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Posted: Sat Sep 27, 2008 5:16 am
Ridiculous. It's simply more economic handjobs for the financially fluid. If this continues, I'm getting a cabin in Montana.
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Posted: Sat Sep 27, 2008 5:30 am
Quote: But as to a "world-wide economic slow down / crisis" I say... so what?? If the entire planetary economy slows down, who's the creditor?? Who's calling loans due in full and from whom?? the creditors in this case would be countries calling debts back and if the countries do not have this money we have another 1930's great depression again. What i'm saying is this situation has FAR MORE REACHING consequences then most people realize, in my opinion it has become overly politicized and people are clinging to party mentalities while not simply trying to solve it. edit: to say something quick. I am not saying i support just putting 700 billion dollars into the system atm all im trying to do is show that this problem can turn into a spiral of hell for everyone.
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Posted: Sat Sep 27, 2008 8:54 am
Let this be a lesson to all countries. Next time your President starts a fake war and rigs an election to get back in power, KILL HIM FOR THE LOVE OF GOD! I blame the Idiots of America...You know who you are! As for the bailout. Screw the corprate world!
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Posted: Sat Sep 27, 2008 9:17 am
I think it's good that the government is finally trying to do something but I'm not sure if what they are doing is the right thing in this situation. I honestly believe we are heading into another depression, maybe not as bad as the first one (I hope) but a depression nonetheless. Something has to be done, but what?
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Posted: Sat Sep 27, 2008 9:33 am
I was shocked we even had that kind of money to spare, considering our issues with underfunding critical things such as education.
But putting that much money into their pockets? It doesn't make sense. You'd think with their money sense would have told them to save for such as time as this. stare
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Posted: Sat Sep 27, 2008 4:57 pm
Well the U.S itself has a good deal of money to pull from (i believe your GDP is somewhere around 13 trillion dollars) so its not that surprising to me to be honest.
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Posted: Sat Sep 27, 2008 5:27 pm
Well Congress is still working out the kinks in the proposal, so it's hard to say what will happen exactly. There will be some sort of oversight on the whole deal, this much is clear. If everything goes well, it will cost the taxpayers in the short run, but should actually make money in the end. I do agree that something needs to be done. I mean, I lost $13,000 in investment funds in one day. I would really rather not have that happen again.
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