Armed Polite Society

Main Forums => Politics => Topic started by: Waitone on September 28, 2008, 03:15:02 AM

Title: Well It Seems We have a Bailout
Post by: Waitone on September 28, 2008, 03:15:02 AM

http://www.breitbart.com/article.php?id=D93FJ1182&show_article=1
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Quote

The plan calls for the Treasury Department to buy deeply distressed mortgage-backed securities and other bad debts held by banks and other investors. The money should help troubled lenders make new loans and keep credit lines open. The government would later try to sell the discounted loan packages at the best possible price.

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If the US government has given a single source franchise to a European bank, why is it the US treasury is buying up bad assets.  Seems to me it is time for the franchise holder to fall on the sword; to take one for the team so to speak.

Other thing I noticed in the article is there is mention of a quick vote but no mention of publishing the agreement on the internet.  I do not trust these people.  I intend to tell my representative so.

Title: Re: Well It Seems We have a Bailout
Post by: longeyes on September 28, 2008, 07:54:26 AM

We have no reason to trust an unholy alliance of gov't and business that sees the U.S. Treasury as an ATM machine for the rich, stocked by the U.S. taxpayer.

I think this current crisis has major "Boston Tea Party" potential.

A lot of things are coming to a head in America.

Title: Re: Well It Seems We have a Bailout
Post by: Bigjake on September 28, 2008, 09:01:02 AM

Well, at least if they do approve the bailout I'll be able to take advantage of the "bump" it should give the Dow.  That'll make getting the hell out of stocks and cutting my losses much less painful.

This aint over yet, and no amount of Fed "rescue" is going to stave off the inevitable.

Title: Re: Well It Seems We have a Bailout
Post by: BReilley on September 28, 2008, 12:25:09 PM

You know, after hearing so many liberal complaints about government being in the pockets of big business... it strikes me a bit strange that this abomination is the solution offered by liberals.

Title: Re: Well It Seems We have a Bailout
Post by: lupinus on September 28, 2008, 04:02:59 PM

ugh.  This baffles me.

I can understand buying out failing banks so they can be sold off in managed and stable way rather then a firesale.

However, buying just the bad assets?  Thats insane.