will wallstreet accept that, how do you guys think wallstreet will react if thats true? there was also talk of an extended session that goes into next week according to cnbc, so how will wallstreet react, they want 750 billion passed by the end of friday.
The suggestion of only $150 billion came from Chuck "On The Cheap" Schumer. It's a $14 TRILLION dollar marketplace, Chuck. Duh.
its so hard to say how its going to go right landis. On one hand 150 billion now, seems reasonable. And the rest later. Wallstreet might not like it, but the bond traders will probably like it, since it provides alot of liquidty, and they are more longterm future oriented. And long term lol, more then 24 hours.
His suggestion is like giving a patient who needs 4 pints of blood in order to have a chance to live through the day one pint a day.
You got to be kidding me with that analogy. At least he is trying to slow the bleeding process of the people. Still not good enough, this bailout is the final nail in the coffin for USA.
but jfic,it does make sense right. Passing 700 billion in 5 days,without a real game plan, you would at least buy some time to figure it out. ive been coming to the conclusion congress will go the route. 150-250 now, in a couple of weeks more, till you have all the details worked out.
There is a "game-plan". The problem is that 98% of the UNITED STATES CONGRESS knows nothing about economics or the banking system, and, they have no clue how this effects their constituents. "Jfic" is correct. One pint of blood for a patient that is in the ER and bleeding-out is a joke. Again, this is NOT a "bail-out". It is an investment by the Treasury in order to put a "bid" back into mortgage securities that facilitates price discovery that will attract private capital and improve further liquidity and clean-up the balance sheets of U.S. banks so that they can make loans again.
Great, you support it, I don't. Most Americans won't either, apparently they are not as dumb as Paulson thought. Go donate your net worth if you think it's the solution. It's taxpayer money used to buy worthless paper, nothing more. Gains to the financial entities who hold this paper. True gains to the execs of these firms & Wall Street.
landis it is a bailout. Your taking the crap from wallstreet and putting into the publics shoulders. The debt was always on the publics shoulder b/c wallstreet made it so large it had tobe. Wallstreets bets became so big and intertwined, if anything went wrong it went onto the publics shoulders. Everybody knew that, but nobody wanted to fix.
There is a market for this subprime crap, it's about 5 cents on the dollar. And it's not that liquid, because it's just speculation. The subprime paper is worthless, wake up.