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Bailout Bonanza

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  • Harris Bank (Illinois)
    Corus Bank (Chicago)
    USAA (National)
    Charles Schwab (National-Investment)
    <Reverend> IRC is just multiplayer notepad.
    I like your SNOOPY POSTER! - While you Wait quote.

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    • USAA has become my primary bank in these post WaMu days. On another note a friend of mine lost $50,000 buying WaMu stock the day before they went belly up. He figured being the biggest savings & loan in the US would assure them a bailout if they were in need and that he could pick up a good stock at 75% off. Boy was he wrong.
      Try http://wordforge.net/index.php for discussion and debate.

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      • Chevy Chase?

        JM
        Jon Miller-
        I AM.CANADIAN
        GENERATION 35: The first time you see this, copy it into your sig on any forum and add 1 to the generation. Social experiment.

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        • Fifth Third
          "My nation is the world, and my religion is to do good." --Thomas Paine
          "The subject of onanism is inexhaustable." --Sigmund Freud

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          • Originally posted by Kidicious
            Hint: Economics is politics.
            In some respects, but for, say, what Friedman and Krugman won their Nobel Prizes wasn't all that political. In fact, Nobels are usually given for very math heavy and theoretical principles.

            I'd say that even you would give Friedman a Nobel Prize in economics for his work on monetary policy. I'd sure give Krugman one for his work on international trade.
            “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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            • Originally posted by Imran Siddiqui


              In some respects, but for, say, what Friedman and Krugman won their Nobel Prizes wasn't all that political. In fact, Nobels are usually given for very math heavy and theoretical principles.

              I'd say that even you would give Friedman a Nobel Prize in economics for his work on monetary policy. I'd sure give Krugman one for his work on international trade.
              The Nobel Prize for economics is a joke. I don't care who gets it.

              Also, just because an economic theory is heavy in math doesn't mean it's not political. Why would it?
              I drank beer. I like beer. I still like beer. ... Do you like beer Senator?
              - Justice Brett Kavanaugh

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              • Originally posted by Kidicious


                The Nobel Prize for economics is a joke. I don't care who gets it.
                I'll take it, then. It'll help me pick up chicks.

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                • Originally posted by Zkribbler


                  I'll take it, then. It'll help me pick up chicks.
                  What are you going to talk to them about though.
                  I drank beer. I like beer. I still like beer. ... Do you like beer Senator?
                  - Justice Brett Kavanaugh

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                  • Originally posted by Kidicious
                    Also, just because an economic theory is heavy in math doesn't mean it's not political. Why would it?
                    Because if it is based on math, then it is based on actual observations and able to be challenged on its basis. Basically, heavy math based theories start with measurable things (facts, if you will). There may be some political basis to them, but you can't criticize it based on politics (you can only suggest what should be done as a result of the findings). It's kind of like science. A lot of science has political backgrounds as well, but in the end, you have to challenge what to do with it if the math/science is correct, and not whether its "right" or not.
                    “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


                    • Originally posted by Imran Siddiqui
                      Because if it is based on math, then it is based on actual observations and able to be challenged on its basis.
                      Basically, heavy math based theories start with measurable things (facts, if you will).
                      No, not facts, assumptions, lot's of assumptions.

                      Mathematical models in economics for example are static, when in reality the economy is dynamic. Also, economics is dependent on human psychology which is not measurable. People are always different. Situations are always different. You can't just say, I made these observations and then created these mathematical formulas based on them so this is a fact, I deserve a prize. What you did has to make some sense and that's where the subjectivity comes in, because we all have a different way of looking at the world, so we will see the problem differently.
                      There may be some political basis to them, but you can't criticize it based on politics (you can only suggest what should be done as a result of the findings). It's kind of like science. A lot of science has political backgrounds as well, but in the end, you have to challenge what to do with it if the math/science is correct, and not whether its "right" or not.
                      No, empirical evidence is much more reliable in science. Sure politics still plays a part, but you can't deny the empirical evidence in natural science.
                      I drank beer. I like beer. I still like beer. ... Do you like beer Senator?
                      - Justice Brett Kavanaugh

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                      • The Republicans want to eliminate the capital gains tax for home sales as part of their stimulus package.

                        I drank beer. I like beer. I still like beer. ... Do you like beer Senator?
                        - Justice Brett Kavanaugh

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                        • The terms of this recapitalization are too lucrative for the banks.

                          The Wall Street Journal is reporting that the gov't is buying senior preferred shares offering only a 5% dividend, rising to 9% over 5 years. I was hoping for rates that were more punitive.

                          The government doesn't appear to get any warrants or anything to participate in the upside.
                          I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891

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                          • JM
                            Jon Miller-
                            I AM.CANADIAN
                            GENERATION 35: The first time you see this, copy it into your sig on any forum and add 1 to the generation. Social experiment.

                            Comment


                            • DanS - call me arrogant, but i dont have to look at the details to know that this is just one giant rip-off.

                              And what would motivate banks to do less risky businees from now on ? The lowered interest rates ? The fact, that if they screw up, they now know, they are gonna get bailed out ?

                              As i see it, this is just the beginning - in like 3 years or so, we gonna see it all over again... Then they gonna start talking about merging the EU with the US economically, to ´stabilize´ the market or somesuch.

                              But one thing is certain: The system may not be touched ! God sizzled it into stone and any change to the credit system would be utter blesphemism and satan´s work...

                              The German gov announced today a 400bn € bailout - all parties are supposed to vote for it. Fact is: None of them should: Taking interest is against christian ethics, so the christian parties shouldnt vote for keeping up that system. And the left parties ? Oh - common - we all know, where most of this bailout money is heading to, right... ? If in fact all parties will vote for it, i am done with voting...

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                              • The so called economist that they quoted is actually a conspiracy theorist.
                                I drank beer. I like beer. I still like beer. ... Do you like beer Senator?
                                - Justice Brett Kavanaugh

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