[Tfug] OT: Bailout Bill

[Joshua Zeidner]

On Thu, Sep 25, 2008 at 10:10 AM, Jim Secan <jim at nwra.com> wrote:
> At 09:56 AM 09/25/2008 -0700, keith smith wrote:
>>Are we not in a pickle?  If we fund this bailout we all pay and the ones who
>>caused the problem get away with it.  If no bailout what does that do to our
>>economy?  Will it crash?  Will the world economy crash?
>>
>>It seems we are in a pickle.  You and I will more than likely pay $2000 each
>>for the bailout, or so that is the figure I am hearing.
>>
>>Do we have a choice?  Do we want another Great Depression?
>
> We don't really know, and given the propensity for shading the truth (I'm
> trying to be polite) by the current administration it's hard to tell.
> Their approach is to propose a solution that is, from what I can tell,
> horrifically bad and then try to force it down our throats because the
> barbarians are at the gates.  Basically, the Bush plan is "give us $700
> billion with no oversight and trust us to do the right thing".  Yeah, right.

  Jim, the primary asset classes at stake are the unregulated CDOs
that govern consumer debt such as credit cards, auto loans, and most
importantly mortgages.  If the system collapses, presumably so do your
debt obligations.  700b could buy us an entire shiny new credit
system.  In my estimation the only real thing at stake are these
peoples position as the top 1% rich and owners of 95% of wealth in
this country.  Dont believe the hype.

>
> The fact that they don't want to put limits on the payouts given to CEOs
> bailing out of these failed institutions gives us an idea of where they're
> heads are at (up and locked, pretty much).  The argument is that the
> companies in risk of going belly up won't take the US bailout money because
> of all the little niggling strings attached.  That'll show them Democrats.
> I don't see this happening.  If a company leadership turns down a bailout
> because they don't get their golden parachutes and the company then tanks,
> I would hope that their shareholders would take a dim enough view of this
> that heads might literally role.
>
> But, then again, the people in this country have shown a remarkable level
> of stupidity

  I hear this a lot and nothing is wrong with American's brains.  The
situation is better phrased as the total degradation of media
regulations ala FCC.  Thanks Martin you !@#$.  jmz

> over the past several decades, so anything is possible.  As
> long as the leader of the country is seen as a good old boy that you'd like
> to have a beer with, or ogle at a beauty pageant, that's good enough for
> Real Americans.
>
> Pfah, and </flame>.
>
> Jim
> *---------------------*-------------------------------*
> | Jim Secan           | Northwest Research Assoc, Inc |
> | (jim at nwra.com)      | 2455 E. Speedway, Suite 204   |
> | (520) 319-7773      | Tucson, Arizona 85719         |
> *---------------------*-------------------------------*
>
> _______________________________________________
> Tucson Free Unix Group - tfug at tfug.org
> Subscription Options:
> http://www.tfug.org/mailman/listinfo/tfug_tfug.org
>



-- 
"I know not with what weapons World War III will be fought, but World
War IV will be fought with sticks and stones." --Albert Einstein

 - http://www.joshuazeidner.com/