Obama Comes OUt With His Hands Up

cawacko said:
I thought I read this morning neither mccain or obama are voting on this because they are preparing for the debate.
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As far as getting elected it would only hurt them.

a) voting for it is wrong = corporate welfare at its worst.
b) voting against it will be used against you too - although that option works for me.
 
Darla said:
This from the guy who is voting for the facist who gave us this, and is continuing to say “"MY FRIENDS, BILILONAIRES WILL STILL BE GETTING TAX CUTS. MY FRIENDS THE REGULAR PEOPLE ARE GOING TO PAY FOR THIS BAILOUT. MY FRIENDS, YOU WON'T PAY A DIME. MY FRIENDS, WE IN FACT, WILL GIVE YOU MORE"

At least you’ve got yourself a bigger piece of the pie that those idiots dano and Dixie. I can understand you’re willing to spout any bullshit to make sure they let you hang onto it.

But don’t ever think you’re going to swindle me SF. Swindle Dano and Dixie. They’re lining up begging for it.
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You really are quite hostile the past couple of days. Calling McCain a facist now? I do believe you have gone off the deep end.
 
cawacko said:
I thought I read this morning neither mccain or obama are voting on this because they are preparing for the debate.
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Well, why put yourself out there for criticism? Voting on important things is bad for candidates' poll numbers.
 
LadyT said:
Agreed.

This is just unbelievable to me.

I'm just curious as to where the money is actually going. I can't find anything related to cashflows.
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As it stands now, it would appear the money would go to the banks and brokerages that hold the "bad" debt. The government would then unwind the mess over time.

It could work in the taxpayers favor as long as the government doesn't overpay for the suspect debt. At most they should pay 55-60 cents on the dollar. That gives them leeway on defaults and would allow them to essentially re-fi the debt to try to keep people from defaulting and being foreclosed upon.

But they need to implement the plans being suggested by Congress (yes, mainly Dems). Their has to be oversight on this, the taxpayers have to come first, the golden parachutes should all be eliminated, the government should get equity ownership in the banks/brokerages in exchange for buying this debt off their books. That way, when the stocks recover, the taxpayer benefits.
 
Superfreak said:
As it stands now, it would appear the money would go to the banks and brokerages that hold the "bad" debt. The government would then unwind the mess over time.

It could work in the taxpayers favor as long as the government doesn't overpay for the suspect debt. At most they should pay 55-60 cents on the dollar. That gives them leeway on defaults and would allow them to essentially re-fi the debt to try to keep people from defaulting and being foreclosed upon.

But they need to implement the plans being suggested by Congress (yes, mainly Dems). Their has to be oversight on this, the taxpayers have to come first, the golden parachutes should all be eliminated, the government should get equity ownership in the banks/brokerages in exchange for buying this debt off their books. That way, when the stocks recover, the taxpayer benefits.
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are they actually planning on paying $0.50 cents on the dollar or is that you just saying what they should pay?
 
Superfreak said:
As it stands now, it would appear the money would go to the banks and brokerages that hold the "bad" debt. The government would then unwind the mess over time.

It could work in the taxpayers favor as long as the government doesn't overpay for the suspect debt. At most they should pay 55-60 cents on the dollar. That gives them leeway on defaults and would allow them to essentially re-fi the debt to try to keep people from defaulting and being foreclosed upon.

But they need to implement the plans being suggested by Congress (yes, mainly Dems). Their has to be oversight on this, the taxpayers have to come first, the golden parachutes should all be eliminated, the government should get equity ownership in the banks/brokerages in exchange for buying this debt off their books. That way, when the stocks recover, the taxpayer benefits.
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If they hold it for a while, there is a possibility of them gaining their cash back and more. However, isn't there something about the government profiting from business?... Somewhere?
 
Damocles said:
If they hold it for a while, there is a possibility of them gaining their cash back and more. However, isn't there something about the government profiting from business?... Somewhere?
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yeah well, if I'm going to be forced to bail out retards, we better get something substantial in return.
 
LadyT said:
Then that's not a bad deal then.
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It's not too bad, and they are one of the few that can hold the position for a longer term to regain the money. But will they? When has Congress shown a capacity for understanding smart business?
 
Well, if they really are going ot pick them up for $0.20 - $0.30 on the dollar, it would take work to mess that up.
 
LadyT said:
not that they are above that, but it would take work nonetheless.
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Any group of idiots that are dumb enough to mess us Social Security by playing inane accounting games with it can surely step in the only pile on the floor.
 
Damocles said:
If they hold it for a while, there is a possibility of them gaining their cash back and more. However, isn't there something about the government profiting from business?... Somewhere?
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Yes, they are not supposed to make profits.... but profiting on one part of the plan to offset the costs caused by the problem is legit and has been done before. If I remember correctly, this was also done during the great depression.
 
LadyT said:
are they actually planning on paying $0.50 cents on the dollar or is that you just saying what they should pay?
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From what Paulson and Bernanke stated today, that looks to be the top end of the target range. It is also what the Congressional input seems to be implying. All just words on TV right now. In the end it will be dependent on the individual portfolios purchased. My guess is some will be far lower than that range and some will be capped right around that top end. Who knows for sure at this point though. It could end up being 65-70%.

Bottom line: from an economic recovery perspective, they need to cap it around 60%. That gives them plenty of wiggle room to refi and to take losses on some loans which would be offset by those loans that end up being profitable.
 
Superfreak said:
From what Paulson and Bernanke stated today, that looks to be the top end of the target range. It is also what the Congressional input seems to be implying. All just words on TV right now. In the end it will be dependent on the individual portfolios purchased. My guess is some will be far lower than that range and some will be capped right around that top end. Who knows for sure at this point though. It could end up being 65-70%.

Bottom line: from an economic recovery perspective, they need to cap it around 60%. That gives them plenty of wiggle room to refi and to take losses on some loans which would be offset by those loans that end up being profitable.
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no. I like the 30% idea. We're at least guaranteed something back out of it.
 
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