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They need to pull themselves up by their own bootstraps!

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  • #16
    Originally posted by Colon™
    He said it. You had foreigners buying $1.5 trillion of GSE debt on the assumption there was an implicit gov't guarantee on it and American homeowners benefited from it. Say nuh-uh to saving Freddie Mac and Fannie Mae and the world says nuh-uh to financing the US.
    If you want the full faith and credit of the US Government, you should stick to things which are explicitly marked as such. As far as the housing bubble goes, No I wouldn't say that the American homeowner benefitted from it.

    Originally posted by Imran Siddiqui
    I guess we could just do nothing and go into another Great Depression. Would you like that better?
    Have the financials come totally clean? If the answer is yes then our proposed liquidity backstop is worthwhile. If the answer is no then we just increased the size of our problem.

    Comment


    • #17
      If you want the full faith and credit of the US Government, you should stick to things which are explicitly marked as such.
      We can always switch to euro-denominated assets if you want to play like that.

      Comment


      • #18
        I hate corporate socialism.

        I'll simplify much of what is going on, for those who don't understand the stupidity. When firms this huge go under, they do need some money to prevent them from going to bankruptcy court and being torn apart, the damage to the economy would be too big.

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        • #19
          Originally posted by Naked Gents Rut


          We can always switch to euro-denominated assets if you want to play like that.
          Have fun riding the Euro down.

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          • #20
            I don't approve of the bailouts, but to link the bailouts to welfare illustrates the failing of the Liberal Arts graduate.

            RIght Wiggy?
            "The issue is there are still many people out there that use religion as a crutch for bigotry and hate. Like Ben."
            Ben Kenobi: "That means I'm doing something right. "

            Comment


            • #21
              Originally posted by SlowwHand
              Hewlett Packard is laying off something like 25,000 workers, half of them in the USA.
              They could stand to lose a lot more until they figure out how to make a quality product again.
              "The issue is there are still many people out there that use religion as a crutch for bigotry and hate. Like Ben."
              Ben Kenobi: "That means I'm doing something right. "

              Comment


              • #22
                The other thing is if people actually saw the content of these "bailouts", I don't think they'd ever wish those terms on welfare recipients.
                “I give you a new commandment, that you love one another. Just as I have loved you, you also should love one another. By this everyone will know that you are my disciples, if you have love for one another.”
                - John 13:34-35 (NRSV)

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                • #23
                  Originally posted by Whoha If you want the full faith and credit of the US Government, you should stick to things which are explicitly marked as such. As far as the housing bubble goes, No I wouldn't say that the American homeowner benefitted from it.
                  I'm afraid shoulds and shouldnts have very little relevance in the financial world.
                  DISCLAIMER: the author of the above written texts does not warrant or assume any legal liability or responsibility for any offence and insult; disrespect, arrogance and related forms of demeaning behaviour; discrimination based on race, gender, age, income class, body mass, living area, political voting-record, football fan-ship and musical preference; insensitivity towards material, emotional or spiritual distress; and attempted emotional or financial black-mailing, skirt-chasing or death-threats perceived by the reader of the said written texts.

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                  • #24
                    Re: They need to pull themselves up by their own bootstraps!

                    Originally posted by MrFun
                    So what are people's thoughts on the enormous corporate bail outs by the federal government so far?

                    I am especially interested in hearing from those who so fiercely oppose welfare programs for destitute families and individuals but who turn around and have no problems with corporate welfare.

                    Stick to your principles and demand that CEOS and other high-level executives pull themselves up by their own bootstraps!
                    I don't see any difference between bailing them out and letting them control the means of production. They have us by the balls anyway.
                    you're demonstrating your misogyny by calling p*ssy caps Vagina hats.-rah
                    If they're hiding it [mental illness] from their doctor because they want to buy a gun, I have no problem with it. - rah
                    You will become a shining beacon of light, like Kidicious. -TMM

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                    • #25
                      Originally posted by Imran Siddiqui
                      The other thing is if people actually saw the content of these "bailouts", I don't think they'd ever wish those terms on welfare recipients.
                      If the AIG deal goes well, Paulson will have every finance minister in the world wishing he could do a bailout.
                      DISCLAIMER: the author of the above written texts does not warrant or assume any legal liability or responsibility for any offence and insult; disrespect, arrogance and related forms of demeaning behaviour; discrimination based on race, gender, age, income class, body mass, living area, political voting-record, football fan-ship and musical preference; insensitivity towards material, emotional or spiritual distress; and attempted emotional or financial black-mailing, skirt-chasing or death-threats perceived by the reader of the said written texts.

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                      • #26
                        I heard on NPR yesterday that some estimate AIG's aircraft leasing division (some 100 odd 747 sized jets) to be worth nearly 50 billion all by itself. When that is sold, and it is going to be apparently, that will cover a good bit of the lone right off the bat.
                        "The DPRK is still in a state of war with the U.S. It's called a black out." - Che explaining why orbital nightime pictures of NK show few lights. Seriously.

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                        • #27
                          Originally posted by Patroklos
                          I heard on NPR yesterday that some estimate AIG's aircraft leasing division (some 100 odd 747 sized jets) to be worth nearly 50 billion all by itself. When that is sold, and it is going to be apparently, that will cover a good bit of the lone right off the bat.
                          You're referring to ILFC, the world's largest aircraft lessor.

                          They have over 900 aircraft worth ~$50B.

                          Problem is it's one of the best parts of AIG. It has annual profits of ~$600M with a staff of only 170.
                          "The issue is there are still many people out there that use religion as a crutch for bigotry and hate. Like Ben."
                          Ben Kenobi: "That means I'm doing something right. "

                          Comment


                          • #28
                            Originally posted by Imran Siddiqui


                            I guess we could just do nothing and go into another Great Depression. Would you like that better?

                            Yes - the hardening experience would build character.
                            A lot of Republicans are not racist, but a lot of racists are Republican.

                            Comment


                            • #29
                              Originally posted by Ben Kenobi
                              Well I'm glad to see once again we are on the same side.

                              Why don't you come all the way over to the darkside Mr. Fun. It really is better over here.
                              Nah, I'm not coming over to the dark side.

                              But I think I understand now why come people on here support corporate welfare but are opposed to welfare for impoverished family and individuals.

                              I heard people scream self-righteously on here about how the government should never make any effort to bail people out of their failed home mortgages. And yet, some of those same people are in favor of the government bailing out failed corporations. Some said, "Those people who have taken out bad mortgage loans made their own stupid mistake; the government shouldn't bail them out." Wouldn't that same principle apply to corporations and their wealthy CEOS?

                              Of course, then we need to consider Imran's and others' point - that our economic situation would be even worse without corporate welfare. But I don't see why they have to be opposed to welfare to those who also truly need it - the impoverished families and individuals living on minimum wage or less.
                              A lot of Republicans are not racist, but a lot of racists are Republican.

                              Comment


                              • #30
                                Actually it appears that most of the people who would be opposed to individual welfare oppose this as well:

                                http://www.cnn.com/2008/POLITICS/09/...ess/index.html
                                “I give you a new commandment, that you love one another. Just as I have loved you, you also should love one another. By this everyone will know that you are my disciples, if you have love for one another.”
                                - John 13:34-35 (NRSV)

                                Comment

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