effect of No vote on Bailout

[uscitizen]

Name one republican that wants the bail out? The Dem party can't find one to use as a scapegoat. How many shareholders of F&F were dem politicians--how many were Rep politicians? They are almost all DEM. Do some research. Then talk party politics if you think you have a point.

umm McCain from what I heard him say the other day. But this is today and he likely changed his mind.

 

[theMAJORITY]

We have a much needed recession, then we can rebound and have another 25 years of growth. If we bail everyone out we just delay the inevidible, promote a flawed buisiness model and the next crash will be even worse. You bail out Freddie and Fannie only since they were GSE's and sell them off to the private banks and end GSE's altogether.

I don't think we will rebound from this one like in the past. You did not read this, or hear this from anybody but me--but irresponsible world trade today will make sure we don't have a boom again, for the common person. Investors do well with it--politicians do well with it, and big business owners do well with it, but we are rotting from the bottom up today---so give them the homes and disolve the marxist government ownership.

 

[Cancel 2016.2]

dow will drop to 8000-9000 levels, money market will fail under the dollar will happen this week.

banks will fail and freeze assets (see indymac)

long term major recession.

agreed... though I think the Dow goes down to the 6500-7000 range by the end of the year. the sense of urgency is not simply because of the election. Too many banks are teetering on the edge. Credit is tight right now....

The story no one is telling.... the banks have pretty much stopped lending to each other... they do not trust each other. THAT IS FRIGGIN BAD.

We would experience a Japanese like recession.

 

[theMAJORITY]

agreed... though I think the Dow goes down to the 6500-7000 range by the end of the year. the sense of urgency is not simply because of the election. Too many banks are teetering on the edge. Credit is tight right now....

The story no one is telling.... the banks have pretty much stopped lending to each other... they do not trust each other. THAT IS FRIGGIN BAD.

We would experience a Japanese like recession.

Personally, I don't care if I get credit. Once my home is payed for, I will never use credit again. My business does not depend on credit like many do today---all materials and machinery, are payed for in full. Stop my credit--I still make money, because I don't desire to live on loans. I don't understand the little tack shop that is going under (local paper)--20 years in business, and his inventory is on a loan for wich credit got tightened. he is going out of business--because he depended on other people. He is going out of business---because he is a liberial and believed the community should pay for his inventory. I belive in ownership--not credit. Let them go under, and create real home owners. I can't think of a better way to spur our economy, than to drop personal debt. If they (over half the nation) all got their homes from this greedy government failure, for free, or greatly reduiced--I can't think of a more direct way to help the economy of the people who live here. Would they go out and buy with cash--a new GM car? You bet.

Would their jobs be gone. may be some--but many of those jobs are not here anymore, and those people lost their home already, or are loosing it because we sold out the American worker for quick profit from a communist nation (s) who came on line late with slave labor into the industrial revolution.

I am so sick of it all--I want a fucking depression so I can see these thugs jump out of their high rise appartments.

The banks are simply going back to the responsible lending practices they used to do---before the government had a beter idea. This is a prime example of how socialization works. A home for everybody that can't afford one--and elite socialism at our expense when (not if) it fails.

 

[Cancel 2016.2]

Yea and us taxpayers get stuck paying the other $0.70. Not only should their be punitive measures to ensure executives at these companies don't get golden parachutes, they should be prosecuted in civil court for damages.

How about a Republican tax? Since this was their fault can't we just raise the taxes on all registered Republicans? Hell we'll even throw them a bone. We'll make it a flat tax on Republicans of $250,000 each. Since there are about 30 million or so registered Republicans that would pay for the bail out, wouldn't it?

You are incorrect. We would not be buying these assets at face value. They would be purchased at a huge discount. Likely in the 50-60 cents on the dollar range. They are not all going to go bad. Buying at a discount coupled with equity ownership in any bank/brokerage will hurt SHAREHOLDERS.... NOT TAXPAYERS.

 

[Cancel 2016.2]

Personally, I don't care if I get credit. Once my home is payed for, I will never use credit again. My business does not depend on credit like many do today---all materials and machinery, is payed for in full. Stop my credit--I still make money, because I don't desire to live on loans.

That is good for you.... but do your customers all follow the same philosophy?

 

[Topspin]

The downside of doing nothing is way better than the downside to come if we do the bailout.
What a bunch of wusses we all have become. We can't withstand a recession 7yrs after the last one. Reward billionaire gamblers by scaring financial morons into a tizzy so the billionaire can keep rolling his bentley in the Hamptons.
Ahh, we got along fine before the housing bubble. We survived the tech bubble without handout to the technobabblist. Guess they didn't have lobbyist.

 

[Timshel]

You are incorrect. We would not be buying these assets at face value. They would be purchased at a huge discount. Likely in the 50-60 cents on the dollar range. They are not all going to go bad. Buying at a discount coupled with equity ownership in any bank/brokerage will hurt SHAREHOLDERS.... NOT TAXPAYERS.

Bernanke is talking about paying maturity value. Regardless, the returns will come in less valuable dollars. And government ownership of the businesses is not a good idea.

 

[Topspin]

PS Frisco rocks

 

[Kamala Trump]

Why will there be much less of it, you mental midget?

If we do nothing, we will turn a one year recession into a ten year one. If we do nothing, there will be a million times more of it. Let's not continue the free market idiocy that got us into this mess.

Stop your ignorant fearmongering.

 

[FUCK THE POLICE]

We have a much needed recession, then we can rebound and have another 25 years of growth. If we bail everyone out we just delay the inevidible, promote a flawed buisiness model and the next crash will be even worse. You bail out Freddie and Fannie only since they were GSE's and sell them off to the private banks and end GSE's altogether.

A recession is never needed. Look at Japan for what you do to the US.

The pseudo-scientific Austrian idea that you need a recession for eventual growth has been disproven more than Marxism.

 

[FUCK THE POLICE]

The downside of doing nothing is way better than the downside to come if we do the bailout.
What a bunch of wusses we all have become. We can't withstand a recession 7yrs after the last one. Reward billionaire gamblers by scaring financial morons into a tizzy so the billionaire can keep rolling his bentley in the Hamptons.
Ahh, we got along fine before the housing bubble. We survived the tech bubble without handout to the technobabblist. Guess they didn't have lobbyist.

I have historical precedent for this. I can compare the situation in Sweden that I wish to emulate and the situation in Japan you wish to emulate. The Sweden crises was over quick and they now have a booming economy. Japan went into a decade of recession and still haven't caught up. You want to turn a minor recession into a great depression. Face it - do nothing doesn't work all the time.

What do you have to back up your idea? Not historical precedent, that's for damn sure. Just a feeling. It's probably indigestion more than anything else.

 

[Kamala Trump]

I have historical precedent for this. I can compare the situation in Sweden that I wish to emulate and the situation in Japan you wish to emulate. The Sweden crises was over quick and they now have a booming economy. Japan went into a decade of recession and still haven't caught up. You want to turn a minor recession into a great depression. Face it - do nothing doesn't work all the time.

Sweden is not an economy central to the west of the world. Analogies are never 100%. So please stfu about sweden.

 

[FUCK THE POLICE]

Sweden is not an economy central to the west of the world. Analogies are never 100%. So please stfu about sweden.

The only difference, then, will be that if Sweden had taken the path you asked it would have only been a minor depression on the rest of Europe, while if we take the path you ask it will be a huge depression on the entire world.

 

[Kamala Trump]

The only difference, then, will be that if Sweden had taken the path you asked it would have only been a minor depression on the rest of Europe, while if we take the path you ask it will be a huge depression on the entire world.

You don't know what would have happened if they hadn't. The dire predictions are just threats. People can work and prosper without cash. The barter system will return.

 

[KingCondanomation]

I'm not supporting one action or the other and this is not a rhetorical question. What do people think the fallout will be in the overall economy in the next year or two if this Bailout gets voted down?

Almost certainly a recession, but it will be a less severe one than if the bailout goes through and we just buy more time.

Downturns do happen in free economies, just like there are boom times. Trying to avoid it with the bailout will only make it worse in the long term.

 

[FUCK THE POLICE]

You don't know what would have happened if they hadn't. The dire predictions are just threats. People can work and prosper without cash. The barter system will return.

Alright guys.

You have someone who wants a complete and total economic meltdown so that we can return to a barter system on your side.

 

[FUCK THE POLICE]

Almost certainly a recession, but it will be a less severe one than if the bailout goes through and we just buy more time.

Downturns do happen in free economies, just like there are boom times. Trying to avoid it with the bailout will only make it worse in the long term.

That's not true Dano. The fact is, we need to stop the dominoes from falling. We will go into a recession but it will be a lot less severe. Sweden never had any "bounceback" recession after they bailed out their banks. Are you saying that they'd have even greater growth than the tremendous growth they've had if they would've just went the way of Japan? Purely delusional.

 

[Kamala Trump]

That's not true Dano. The fact is, we need to stop the dominoes from falling. We will go into a recession but it will be a lot less severe. Sweden never had any "bounceback" recession after they bailed out their banks. Are you saying that they'd have even greater growth than the tremendous growth they've had if they would've just went the way of Japan? Purely delusional.

Please stfu about sweden, you dyke.

 

[KingCondanomation]

Alright guys.

You have someone who wants a complete and total economic meltdown so that we can return to a barter system on your side.

I thought he was on your side. And oooooh bartering is so bad. I've bartered lots, you avoid taxes. It's a great thing when possible, don't forget that money was invented as a more convenient means of exchange.