OT - Financial mess 101 ($700 billion bailout)

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bdoughty
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Post by bdoughty »

wco81 wrote:socialist rants about republicans, blah, blah, blah. I can't read the rules.

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Last edited by bdoughty on Wed Feb 18, 2009 2:28 pm, edited 1 time in total.
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Post by fsquid »

maybe we can get the Japs to strike us again?
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davet010
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Post by davet010 »

pk500 wrote:
davet010 wrote:I can see why - after all, rampant corporate capitalism has worked so well.
True. It's only produced the most powerful economy in the world. Small potatoes, I know ...

Take care,
PK
Must be difficult with the resources of an entire continent at your disposal.
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Rodster
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Post by Rodster »

fsquid wrote:
Rodster wrote:GM, Chrysler ask for $21.6 billion more

http://money.cnn.com/2009/02/17/news/co ... 2009021716

I'm shocked they came back for more. :P
Nobody should be surprised by this...every auto industry analyst said that the first cash injection was merely the beginning of a MUCH larger feeding frenzy at the expense of us taxpayers.

A bankruptcy re-org is the only way to go from here, folks...it's inevitable.
I guess you missed my sarcasm. ;)
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bdoughty
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Post by bdoughty »

davet010 wrote: Must be difficult with the resources of an entire continent at your disposal.
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Post by fsquid »

Sorry the whole Stanford thing has me erked.
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pk500
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Post by pk500 »

davet010 wrote:
pk500 wrote:
davet010 wrote:I can see why - after all, rampant corporate capitalism has worked so well.
True. It's only produced the most powerful economy in the world. Small potatoes, I know ...

Take care,
PK
Must be difficult with the resources of an entire continent at your disposal.
Well, that's what I thought the EU was for in your neck of the woods.

Take care,
PK
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XXXIV
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Post by XXXIV »

Poitical persecution complexes are not on topic.

Thank you ...
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FatPitcher
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Post by FatPitcher »

fsquid wrote:maybe we can get the Japs to strike us again?
No blood for stimulus!
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Feanor
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Post by Feanor »

pk500 wrote:This entire stimulus package is just a giant vote grab designed to appease a lazy, "IT'S NOT MY FAULT!" electorate and the inefficiencies of certain industries.

The dead leaves on the plant should be pruned, not covered with Miracle-Gro in hopes that somehow the Lazarus Effect will take hold.
No, it isn't. Now that monetary policy has no room to move, the fiscal stimulus is designed to keep the country from entering a deflationary spiral where people's expectations of lower prices and wages become set and as a result they keep spending and investing less and less.
Last edited by Feanor on Wed Feb 18, 2009 3:37 pm, edited 1 time in total.
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Post by GTHobbes »

More bad news for the banks today:

"Nationalization is an option for dealing with troubled U.S. banks if they fail the U.S. Treasury's "stress test," Sen. Lindsey Graham said Wednesday.
***
Graham told Reuters the U.S. government had already spent over $40 billion to try and rescue Citigroup, but he said the bank's worth currently was estimated at about half that. Likewise some $45 billion in taxpayer dollars had been spent on the Bank of America, but its value was estimated at only $25 billion, Graham said."

http://money.cnn.com/news/newsfeeds/art ... 434375.htm

"Wells Fargo & Co shares fell Wednesday to their lowest level in almost 12 years before recovering amid fears the fourth-largest U.S. bank could cut its dividend and post higher losses after its purchase of Wachovia."

http://money.cnn.com/news/newsfeeds/art ... 440930.htm
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pk500
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Post by pk500 »

Feanor wrote:
pk500 wrote:This entire stimulus package is just a giant vote grab designed to appease a lazy, "IT'S NOT MY FAULT!" electorate and the inefficiencies of certain industries.

The dead leaves on the plant should be pruned, not covered with Miracle-Gro in hopes that somehow the Lazarus Effect will take hold.
No, it isn't. Now that monetary policy has no room to move, the fiscal stimulus is designed to keep the country from entering a deflationary spiral where people's expectations of lower prices and wages become set and as a result they keep spending and investing less and less.
Yep, that's exactly how it reads in the official game program. Whether it actually serves that purpose is FAR from certain.

Take care,
PK
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Jared
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Post by Jared »

Too much politics. Thread locked. May reopen it later.
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