700 billion dollar bailout

more bullshit in wallstreet fiasco.

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[NotSoOldHippy]

It's Capitalism for the poor, Socialism for the rich --- and fascism and treason against the people.

[hellshade2]

did you hear about john mccains new plan? more deregulation and give the companies a pass on taxes for 2 years...

[Luvanicebum]

All I can say is, RON PAUL saw this coming!!!

Everybody ignored him.

His economic advisor Peter D. Schiff wrote a book 2 years ago, nailing this on the head like Nostra-fricken-damus.

I"M

[mobiltec]

"Anyone else here see the hypocricy??!"

I saw it 8 years ago... You people are a little slow...

[mobiltec]

"If you are smart, you will get your money out of the US before the INFLATION vampire comes back to suck up the leftovers."

Good point.

[Luvanicebum]

My money is in foreign income producing assets and also hard gold assets through the Perth Mint in Australia. My net worth gained 11.2% in the last 10 months. China, after 18 straight interest rate increases, have cut interest rates and are positioning themselves to crush us for good.

If you are smart, you will get your money out of the US before the INFLATION vampire comes back to suck up the leftovers.

[Luvanicebum]

Actually, the federal government is responsible for all of this when we left the gold standard in 1971.

[Luvanicebum]

If you look back at President Bush in 2001-02 calling for a massive home ownership initiative, you'll see him set the stage and then Alan Greenspan call for new lending mechanisms. This is when we started to see those ARM's. Then it leaked into commercial markets. Banks finally realized in 2006 that defaults were an issue, so they re-classified them and sold them to foreign bond investors.

[Luvanicebum]

Then you become a biggot, where the Democrats cry that poor disenfranchised homeowners are being thrown out on the street. This is not true regardless. There would be buyers if prices fell some more. I, for 1, would be buying a house for $50,000 if there were any. Those foreclosed homeowners would be saving money in the long run by renting tax free and without energy and upkeep costs. THE WAY IT SHOULD BE!!!

[Luvanicebum]

Federal regulators are the ones that allowed the loose lending standards for investment banks. Leverage rates were unregulated by the SEC.

[Luvanicebum]

Because of the extent of the number of banks experiencing the same liquidity issues. Our pacific friends have turned off the spickets. They don't think our debt is worth it anymore, so there's no buyers even if they want to liquidate. So, what were doing is supplying feral money to give support to our soured relationships overseas. The only way the fed will sell the good assets is if our Asian friends feel confident enough to "flip" those assets back to us in the way of INFLATION for us.

[mobiltec]

"How about all those greedy, fat ass Americans that bought 54" Plasmas, fly rides and cool gizmos on the false hope that their equity in their house would ALWAYS appreciate?"

They should lose their homes and all their toys. That is the way it is supposed to work. But the loans, in most cases should NOT have been approved in the first place. We were set up to fall and fall we will. Don't waste time figuring out who's fault this is. In a few months you won't have anything to eat.