not all taxpayers have real estate it is not the taxpayer's role, to support prices above what the market can afford this was a bubble - bubbles deflate to the point where the bubble began - that's what they ALWAYS do and a healthy market in that sector cannot being until this happens
Yeah, so instead lets just take from the people, cause they have soooo much to give. That's sure to work wonders. Let these financial firms who hold this crap crash & burn. It will only make the world a better place.
Paulson is part of the in crowd. That's why I said : don't ask the same group of people to fix a problem that they created. They will take a cut of that 700B, spin all losses to taxpayaer and riding in with white horses saying they save the economy. Inject credit thru other means. Bypass these guys.
Duh. I never said that they wouldn't be. But it is interesting that you conveniently left out Wamu, Wachovia, Citibank, and a whole host of others . . .
I am amazed at the lack of depth of knowledge regarding this current issue and how naively SIMPLISTIC people have claimed this issue to be. This isn't just about housing prices and subsidizing banks that were involved in the mortgage market . . . it's about banks having enough good collateral on their balance sheet to make loans for ANYTHING THAT HAS TO DO WITH THE ECONOMY!!! If this was simply a "bail-out" and subsidy to the housing sector, why is it that the commercial paper market is currently FROZEN?
They have been back and forth from barely +/- for 2 weeks. I called my guy for a quote on 2mm par last tuesday and he laughed and said "you dont want em... -.10"
the scrubs at pimco are simply amazing how can they get away with talking their book the way they do?
not all banks will go down only those who deserve it when have these globalist jerks EVER favored bailing out "those who cant adapt"? you're on the side of fascism
So if all these people oppose this, they can't pass this right? Isn't this what democracy is? The people's majority voice count If not, what the f is deomocracy anyway??
You do realize that there is not enough in the $700 billion to cover them all? WaMu would be screwed regardless. Citi will get dibs. Wachovia can survive without it, won't get much off. Banc of America has some pull, depending on how deal with MER goes. Goldman is first, I would think Morgan Stanley is second. There is a reason why Paulson put on such an urgent front & induced fear. Goldman was a goner, at least before the regulation change letting them be a monkey banking center. Who do you think was unloading Oil contracts at such rapid rate?