| View previous topic :: View next topic |
| Author |
Message |
Buggy
Heavy Crude
Joined: Jun 23, 2008
Posts: 149
|
 Posted: Thu Sep 18, 2008 3:58 pm Post subject: We're saved! |
  |
|
| Quote: | Treasury Secretary Henry Paulson is working on a plan that would set up a government facility to take on bad debts from financial institutions, Wall Street sources have told CNBC.
The facility would be similar to the Resolution Trust Corporation, which was set up in 1989 to take on all the failed thrift assets during the savings and loan crisis, these sources said. |
http://www.cnbc.com/id/26779080/site/14081545/
Dow ends up over 400 points! Phew. Crisis averted. That was a close call. Game was almost over for us little people and some of the super filthy rich almost started losing money. They almost got caught for the criminals they really are... again. But it's ok now. They got one of their cronies to hit restart. So, let's get back to the game. The game? That's right, the game.
You know the one. It's where the world's super filthy rich bullies run its economy like a school playground. When something doesn't go their way, they change the rules, like our fine Mr. Paulson here is doing. But look out! We all know what happens when all the bullies gang up on the bully that playes dirty. Well, dirtier than the others that is.
_________________
We are so screwed. |
|
| Back to top |
|
 |
mefistofeles
Heavy Crude
Joined: Mar 21, 2005
Posts: 266
|
| Posted: Thu Sep 18, 2008 4:01 pm Post subject: Re: We're saved! |
|
|
Lol the US government has built a bridge so the fire can spread more quickly and destroy what's left of the US financial system. This is moral hazard on an unprecedented scale.
If the US government actually succeeds this could be an even bigger disaster than a failure. Now companies can produce subprime,stated income loans at their leisure confident that there will be the US will be the buyer/sucker of last resort.
The real issue here is who bears the risk. Traditionally its always been the lender who bore the risk, with the advent of securitization it was the bond holder, now its the US taxpayer. Notice a trend here?
What makes this so dangerous is that if this proposal succeeds lenders and bond holders have no incentive for due dilligence, because Uncle Sam has said he's going to bail them out.
Something stinks in Denmark. |
|
| Back to top |
|
|
Cashmere
Light Sweet Crude
Joined: Mar 27, 2008
Posts: 1971
|
| Posted: Thu Sep 18, 2008 4:04 pm Post subject: Re: We're saved! |
|
|
I'm a non-violent man, and I do not recommend violence, so read this in the literature context in which it is given:
Shakespeare said, "first, kill all the lawyers."
Is anybody with me that we should amend that to "first, kill all the bankers"?
_________________
Massive Human Dieoff must occur as a result of Peak Oil. Many more than half will die. It will occur everywhere, including where you live. If you fail to recognize this, then your odds of living move toward the "going to die" group. |
|
| Back to top |
|
|
Specop_007
Expert
![]()
Joined: Aug 12, 2004
Posts: 6288
|
| Posted: Thu Sep 18, 2008 4:06 pm Post subject: Re: We're saved! |
|
|
| Cashmere wrote: |
I'm a non-violent man, and I do not recommend violence, so read this in the literature context in which it is given:
Shakespeare said, "first, kill all the lawyers."
Is anybody with me that we should amend that to "first, kill all the bankers"? |
We should be selective?
_________________
"Battle not with monsters, lest ye become a monster, and if you gaze into the
Abyss, the Abyss gazes also into you."
Ammo at a gunfight is like bubblegum in grade school: If you havent brought enough for everyone, you're in trouble
كا&# |
|
| Back to top |
|
|
FreedomSlave
Heavy Crude
Joined: Nov 11, 2007
Posts: 121
Location: Portland metro, Oregon
|
| Posted: Thu Sep 18, 2008 4:10 pm Post subject: Re: We're saved! |
|
|
| Cashmere wrote: |
I'm a non-violent man, and I do not recommend violence, so read this in the literature context in which it is given:
Shakespeare said, "first, kill all the lawyers."
Is anybody with me that we should amend that to "first, kill all the bankers"? |
I'm with you. Put all those pigsters and pig-f**kers on a spit! |
|
| Back to top |
|
|
hermit
Heavy Crude
Joined: May 13, 2008
Posts: 184
|
| Posted: Thu Sep 18, 2008 4:24 pm Post subject: Re: We're saved! |
|
|
| Cashmere wrote: |
Is anybody with me that we should amend that to "first, kill all the bankers"? |
The fault lies with all of us. Over the years both we, and our government have had every option to embrace sane economic practices, and put the proper checks and balances in place, but we have resisted them as unamerican and uncapitalist.
This is the end result of unfettered capitalism: the concentration and abuse of wealth in unaccountable hands.
We have been warned so many times, and turned a dear ear, even sometimes mocking those with the foresight to see where we were headed.
We are as much to blame as the "bankers". |
|
| Back to top |
|
|
Eppo
Tar Sands
Joined: Aug 26, 2008
Posts: 21
|
| Posted: Thu Sep 18, 2008 4:43 pm Post subject: Re: We're saved! |
|
|
This is the same type of thing the did in the 90's with the financial crisis then.
Next time there's a problem, they'll do the same thing. It's an on going process that will continually bail out whoever screws up. |
|
| Back to top |
|
|
Newfie
Heavy Crude
Joined: Nov 15, 2007
Posts: 346
Location: US East Coast
|
| Posted: Thu Sep 18, 2008 4:57 pm Post subject: Re: We're saved! |
|
|
Yes, we did it before and will do it again. Not just with financials but also with the ecology.
_________________
When going through hell, keep going! Churchill
Nothing is ever lost by courtesy. It is the the cheapest of pleasures, costs nothing, and conveys much. E Wiman
I know there’s no solution, so I just enjoy what’s here and I enjoy the journey G Carlin |
|
| Back to top |
|
|
Dreamtwister
Fission
Joined: Feb 06, 2006
Posts: 2304
|
| Posted: Thu Sep 18, 2008 5:00 pm Post subject: Re: We're saved! |
|
|
| hermit wrote: | | This is the end result of unfettered capitalism |
I really wish people would quit saying that. This is nothing even remotely resembling capitalism, and it not resembled capitalism for several decades.
_________________
The whole of human history is a refutation by experiment of the concept of "moral world order". - Friedrich Nietzsche |
|
| Back to top |
|
|
DoomWarrior
Heavy Crude
Joined: May 06, 2008
Posts: 442
Location: Omicron Ceti 3
|
| Posted: Thu Sep 18, 2008 5:04 pm Post subject: Re: We're saved! |
|
|
| Is there any way I can "opt out" of this mess? Is there any way I can opt out of the federal government? |
|
| Back to top |
|
|
ohcomeon
Heavy Crude
Joined: Jun 10, 2006
Posts: 140
Location: USA
|
| Posted: Thu Sep 18, 2008 5:40 pm Post subject: Re: We're saved! |
|
|
| Cashmere wrote: |
I'm a non-violent man, and I do not recommend violence, so read this in the literature context in which it is given:
Shakespeare said, "first, kill all the lawyers."
Is anybody with me that we should amend that to "first, kill all the bankers"? |
I'm a woman with a husband who loves violence. I'll send him over and you just direct him where you want him to go. He's mad enough to take 'em all right now...
And I'm thinking we should get the politicians, too. I'll put a little bug in his ear about that one, too... |
|
| Back to top |
|
|
ohcomeon
Heavy Crude
Joined: Jun 10, 2006
Posts: 140
Location: USA
|
| Posted: Thu Sep 18, 2008 5:41 pm Post subject: Re: We're saved! |
|
|
| DoomWarrior wrote: | | Is there any way I can "opt out" of this mess? Is there any way I can opt out of the federal government? |
Move?  |
|
| Back to top |
|
|
nobodypanic
Intermediate Crude
Joined: Jun 02, 2008
Posts: 620
|
| Posted: Thu Sep 18, 2008 6:08 pm Post subject: Re: We're saved! |
|
|
| Dreamtwister wrote: | | hermit wrote: | | This is the end result of unfettered capitalism |
I really wish people would quit saying that. This is nothing even remotely resembling capitalism, and it not resembled capitalism for several decades. |
close enough.
the unrestrained accumulation of wealth (without which there can be no capitalism) has led to this, and if it isn't checked, it'll lead to even worse.
it's time for someone to finally kill the dragon; otherwise, we have no chance. |
|
| Back to top |
|
|
AgentR
Light Sweet Crude
Joined: Oct 06, 2006
Posts: 1371
Location: East Texas
|
| Posted: Thu Sep 18, 2008 6:12 pm Post subject: Re: We're saved! |
|
|
Children... we accepted a direct government check not but a few months ago, just because the people finally realized they can vote themselves money.
If you cashed it or deposited it;
Stop pointing fingers.
_________________
Yes, we are. As we are.
And so shall we remain; Until the end. |
|
| Back to top |
|
|
Jotapay
Intermediate Crude
Joined: Jun 21, 2008
Posts: 675
|
| Posted: Thu Sep 18, 2008 6:15 pm Post subject: Re: We're saved! |
|
|
| DoomWarrior wrote: | | Is there any way I can "opt out" of this mess? Is there any way I can opt out of the federal government? |
Stop the world, I want to get off! |
|
| Back to top |
|
|
|
News
Discussions
Resources
Members
Forum FAQ
Search
Usergroups
Profile
Log in to check your private messages
Log in
