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bail out failed

Postby Yoda » Mon Sep 29, 2008 4:43 pm

Wow... I am stunned that this was turned down. Honestly, I think that some of these companies should go down along with their executives but still, I thought for sure the bill would pass. I only care because the overall market is affecting my investments but in the long run this is a good thing since it will only flush out the greed.

For the most part, I blame the law makers and regulators for not keeping a tighter control. This looks almost like a repeat of Enron except much bigger.
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Re: bail out failed

Postby jfg » Mon Sep 29, 2008 4:50 pm

I am so pleased that this failed. Finally, some common sense! Let em fall and if they're worth anything they'll be bought- a much better plan than giving them a trillion dollars to keep struggling while the dollar depreciates even more. ;-D
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Re: bail out failed

Postby Yoda » Mon Sep 29, 2008 4:54 pm

jfg wrote:I am so pleased that this failed. Finally, some common sense! Let em fall and if they're worth anything they'll be bought- a much better plan than giving them a trillion dollars to keep struggling while the dollar depreciates even more. ;-D


I don't know whether it would have helped or not. I don't think anyone knows honestly. However, most people like you and me would never see a dime of that money anyway.
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Re: bail out failed

Postby RugbyD » Mon Sep 29, 2008 5:08 pm

great back-and forth on the bailout basics and alternatives. This is from Friday. Only 10min.

http://www.cnbc.com/id/15840232?video=868490137
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Re: bail out failed

Postby Simulacrum » Mon Sep 29, 2008 11:42 pm

RugbyD wrote:great back-and forth on the bailout basics and alternatives. This is from Friday. Only 10min.

http://www.cnbc.com/id/15840232?video=868490137


Great video Rugby. A little over my head economically but I think the most valuable part was learning that the bailout would have led to a longer, more drawn out recession. No bailout is quicker but with a more painful recession.
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Re: bail out failed

Postby Mookie4ever » Tue Sep 30, 2008 8:38 am

Having bought a big house and just put our house on the market last week this news was like an ice pick in the bowels. The timing could not have been worse. At first we were sure that the discount that we would have to sell our house at would be a lot less than the discount that we got on our new house. Now we're crossing our fingers that we just get our house sold before the closing on our new house.

Does this seal Bush's legacy as the worst president in history?
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Re: bail out failed

Postby Pogotheostrich » Tue Sep 30, 2008 8:42 am

I still think the bailout will happen. They were only 11 votes short and this is an election year.
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Re: bail out failed

Postby RugbyD » Tue Sep 30, 2008 8:59 am

Mookie4ever wrote:Having bought a big house and just put our house on the market last week this news was like an ice pick in the bowels. The timing could not have been worse. At first we were sure that the discount that we would have to sell our house at would be a lot less than the discount that we got on our new house. Now we're crossing our fingers that we just get our house sold before the closing on our new house.

Does this seal Bush's legacy as the worst president in history?

i think he locked in bottom-5 a long time ago, but I don't know if he get to last place based on recent events, the seeds of which were sown before his admin, though he didn't exactly help things either.
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Re: bail out failed

Postby Yoda » Tue Sep 30, 2008 9:12 am

Mookie4ever wrote:Does this seal Bush's legacy as the worst president in history?


Without a doubt IMO.

Even if he weren't the worst, people will forever link him to the War in the Middle East and the fall of Wall Street.
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Re: bail out failed

Postby Madison » Tue Sep 30, 2008 9:54 am

Mookie4ever wrote:Does this seal Bush's legacy as the worst president in history?


To the general public? Probably.

Even though banks loaning more than they could cover, giving loans they knew people couldn't afford, etc, started a very long time ago. Long before Bush was president.

But the general public will blame him since he was in office when the bubble burst.
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