Apparently the ex CEO is trying to negotiate with private lenders to refinance the $80 bil Fed loan. If that happens then I can see this stock skyrocketing in the next 12 months.
"Think of how stupid the average person is, and realize half of them are stupider than that." ~George Carlin
Actually the Gramm-Leach-Bliley Act repealing Glass-Steagall Act in 1999 is what lead to this current situation. Cannot really blame this one on W.
"I do not think baseball of today is any better than it was 30 years ago... I still think Radbourne is the greatest of the pitchers." John Sullivan 1914-Old athletes never change.
thedude wrote:Actually the Gramm-Leach-Bliley Act repealing Glass-Steagall Act in 1999 is what lead to this current situation. Cannot really blame this one on W.
This is his, "ownership society"; in 2004, he was practically a real estate broker himself. This would not have developed into such a crisis if the Fed hadn't been so stubborn to keep down interest rates to cover failings in the economy.
I'm not saying it's 100% his fault, but it's not an accident it happened under his watch, either.
0-3 to 4-3. Worst choke in the history of baseball. Enough said.
thedude wrote:Actually the Gramm-Leach-Bliley Act repealing Glass-Steagall Act in 1999 is what lead to this current situation. Cannot really blame this one on W.
The repeal didn't cause any of this to happen any more than a car causes a speeding ticket. It takes individual acts to create the problem. There was plenty of good reason for the repeal IMO.
So assuming that the $700 bil bail out does happen, then what lesson have we learned? These corporations will have learned nothing and now they know that the government will bail them out if they f up again.
"Think of how stupid the average person is, and realize half of them are stupider than that." ~George Carlin
Yoda wrote:So assuming that the $700 bil bail out does happen, then what lesson have we learned? These corporations will have learned nothing and now they know that the government will bail them out if they f up again.
Privitizing profits, socializing debt. It's new Capitalism!
Yoda wrote:So assuming that the $700 bil bail out does happen, then what lesson have we learned? These corporations will have learned nothing and now they know that the government will bail them out if they f up again.
Privitizing profits, socializing debt. It's new Capitalism!
I love that new catch phrase. It's very... catchy.
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by bigh0rt » Fri Sep 19, 2008 6:21 pm 
