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Old September 24th, 2008, 06:26 AM   #21
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What is so bad about the government investing our money into buying bank notes? I seriously think they could turn a huge profit. Hell, even Warren Buffet announced today he is dumping $5,000,000,000.00 of his own money into goldman sachs today.
Hmm...why don't we let government invest in the stock market then, we wouldn't have to pay taxes at all...
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Old September 24th, 2008, 06:46 AM   #22
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Hmm...why don't we let government invest in the stock market then, we wouldn't have to pay taxes at all...
Government ownership in the stock market would be socialism. The government should not bet on private companies. I have a meeting to prepare for, I'll have to come back to this in a couple hours
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Old September 24th, 2008, 06:54 AM   #23
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Government ownership in the stock market would be socialism. The government should not bet on private companies. I have a meeting to prepare for, I'll have to come back to this in a couple hours
So it's OK for the government to own our homes (buying bank notes), but somehow it is not OK for them to own our businesses (buying stocks)?
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Old September 24th, 2008, 06:57 AM   #24
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So it's OK for the government to own our homes (buying bank notes), but somehow it is not OK for them to own our businesses (buying stocks)?
uhh, FHA, HUD?


Been doing it for a long time.
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Old September 24th, 2008, 06:59 AM   #25
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uhh, FHA, HUD?


Been doing it for a long time.
The question is still valid.
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Old September 24th, 2008, 09:29 AM   #26
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howell jeep, I have my opinion typed. I need to know what you think should be done to fix the banking problem right now so I can include that.
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Old September 24th, 2008, 09:34 AM   #27
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howell jeep, I have my opinion typed. I need to know what you think should be done to fix the banking problem right now so I can include that.
"The government got America into this situation. The solution is simple: Government, get out."
http://detnews.com/apps/pbcs.dll/art...ON01/809240304
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Old September 24th, 2008, 09:34 AM   #28
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howell jeep, I have my opinion typed. I need to know what you think should be done to fix the banking problem right now so I can include that.
we cant do anything right now, but in november we can elect barak obama. he will change the world into a better place. :rainbow:
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Old September 24th, 2008, 09:38 AM   #29
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we cant do anything right now, but in november we can elect barak obama. he will change the world into a better place. :rainbow:
We're in this situation because of a bill signed by clinton, not because of bush.
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Old September 24th, 2008, 09:42 AM   #30
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We're in this situation because of a bill signed by clinton, not because of bush.
i know it. it was the fucking giving away homes to people who couldnt afford them, like people are entitled to a home. this was their big chance do do away with section 8 housing, but they fucked it up. bush could have at least tried to stop them. and if you think my last post was anything other than sarcasm, you have hurt my feelings.
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Old September 24th, 2008, 09:47 AM   #31
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i know it. it was the fucking giving away homes to people who couldnt afford them, like people are entitled to a home. this was their big chance do do away with section 8 housing, but they fucked it up. bush could have at least tried to stop them. and if you think my last post was anything other than sarcasm, you have hurt my feelings.
mccain had a bill to reform banking 5 years ago which was knocked down by the dems.

now obama blames bush for the crisis.
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Old September 24th, 2008, 09:49 AM   #32
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mccain had a bill to reform banking 5 years ago which was knocked down by the dems.

now obama blames bush for the crisis.
yeah, its nice to be able to blame other people for your fuckups, eh? I almost hope obama gets elected, just so i can rub it in these dirty hippies faces when nothing changes for the better.
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Old September 24th, 2008, 09:51 AM   #33
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mccain had a bill to reform banking 5 years ago which was knocked down by the dems.

now obama blames bush for the crisis.
Do you have a link to that bill?

That's how politics works. Both of the candidates are hoping that the public is too dumb to research things and form their own opinions...and they largely are correct (as stupid, irrelevant attacks sway public opinion to such a large degree).
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Old September 24th, 2008, 10:02 AM   #34
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howell jeep, I have my opinion typed. I need to know what you think should be done to fix the banking problem right now so I can include that.
Write them that you would like a personal bailout each time you lose money on a bad investment, or otherwise you will have to fire people, make them lose their homes and crash the economy. Include as many scary scenarios as you can imagine. Repeat until they either believe you or get scared enough to just do something, because doing nothing could cost them politically.

Nothing needs to be done, so that the market can do its job and get rid of the short sighted people/companies that made poor decisions. However, this is too simple, and there is no one to get credit for it and be able to say 1. "Thank me for saving the universe", 2. "We gave our best to save the universe".

Maybe Greenspan, who moved the markets from one bubble to another, can offer Bernanke some advice on where to create another bubble.
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Old September 26th, 2008, 09:20 AM   #35
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.........................................



if this "bailout" doesn't happen, we're all so screwed, its not even funny.

So, I am curious where you stand now that the "Bailout" seems to be at an impasse caused by House Republicans?


p.s. Really just trying to find an opinion based on your political idealogy, nothing evil intended by this post.
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Old September 26th, 2008, 09:51 AM   #36
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If our government doesn't bail it out, wouldn't that open all of those businesses up to foreign investors?

I don't think people want to be paying their mortgage to the People's Republic of China.
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Old September 26th, 2008, 11:05 AM   #37
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If our government doesn't bail it out, wouldn't that open all of those businesses up to foreign investors?

I don't think people want to be paying their mortgage to the People's Republic of China.
Aren't they already?

If the Gov't borrows the money for the bail out, it will be from China (or other countries). The banks will use that money to sell mortgages. So aren't we really paying it to China, through the bank, anyway? Why not just cut out the middle man?

Essentially China backs most of the bundled loans that have caused the problem in the first place. If the US doesn't make good on the loss I imagine they will call in the rest of their markers. Not good.

The hope with the bailout is that if the money is loaned out to wall street that eventually it will be repaid with interest to the gov't. Then the interest would be used to pay down the debt they borrowed. Whether that actually will happen or not is debatable. I don't see how it makes more money than is spent if the gov't is being charged interest and being repaid interest at a similar rate, then it would be more efficient to just have wall st. borrow money from China directly and cut out the middle man. Although I am sure that isn't legal.


Still, I'd say it's a better bet than expecting welfare recipients to repay, with interest, the money used to bail them out and that has been happening for decades. But the odds aren't much better and the scale is a lot bigger.

This whole mess makes my head spin.
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Old September 26th, 2008, 11:07 AM   #38
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Aren't they already?

If the Gov't borrows the money for the bail out, it will be from China (or other countries). The banks will use that money to sell mortgages. So aren't we really paying it to China, through the bank, anyway? Why not just cut out the middle man?

Essentially China backs most of the bundled loans that have caused the problem in the first place. If the US doesn't make good on the loss I imagine they will call in the rest of their markers. Not good.

The hope with the bailout is that if the money is loaned out to wall street that eventually it will be repaid with interest to the gov't. Then the interest would be used to pay down the debt they borrowed. Whether that actually will happen or not is debatable. I don't see how it makes more money than is spent if the gov't is being charged interest and being repaid interest at a similar rate, then it would be more efficient to just have wall st. borrow money from China directly and cut out the middle man. Although I am sure that isn't legal.


Still, I'd say it's a better bet than expecting welfare recipients to repay, with interest, the money used to bail them out and that has been happening for decades. But the odds aren't much better and the scale is a lot bigger.

This whole mess makes my head spin.
I'd rather have the mortgages and tax payer money go back to our government first, and then just have our government tell China to go fukc themselves.
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Old September 26th, 2008, 11:42 AM   #39
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I'd rather have the mortgages and tax payer money go back to our government first, and then just have our government tell China to go fukc themselves.
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Old September 26th, 2008, 12:23 PM   #40
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I'd rather have the mortgages and tax payer money go back to our government first, and then just have our government tell China to go fukc themselves.
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Indeed <WorldGoBoom>
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