Americans say no to bailouts, even if economy is harmed

[Landis82]

Quote from poyayan:

To address the credit crunch, frozen commercial market, reduce money supply, whatever you call it.

Have the government form a national bank with 700B seed money. Let it lends according to Federal reserve ratio. Bypass all these wallstreet banks that cause this problem and go straight to the real business that need credit.

Problem solved. No bail out.

The 700 billion dollar proposal by Paulson is not going solely to Wall Street investment banks.

 

[stock777]

Are you folks really this dumb or are you foreign agents trying to talk down America.

Your parents must be proud that they raised idiots.

 

[poyayan]

Quote from Landis82:

The 700 billion dollar proposal by Paulson is not going solely to Wall Street investment banks.

There are 0 investment banks in wallstreet now. You have to agree that MAJORITY of the 700B will go to banks right? A couple smaller AIG here and there might ask for this too.

Bottomline, you don't ask the same group of people to solve this very problem that they created.

Inject credit thru other means. Bypass these guys.

Much like when the internet bubble burst. Let the tech sink and inject credit else where.

 

[Raptor Deus]

The solution would be to create a 700B real estate management company to mop up all residential distressed real estate and rent it out to the people who are about to jump ship.

Sit on this real estate until wages catch up, a decade perhaps and then sell at cost. Screw interest.

It's not a good solution but it would stop the hemorrhage.

 

[Mecro]

Quote from Landis82:

Yes, we need to start the DEPRESSION as soon as possible.
One month T-Bill rates went negative today.
Get a clue, people.

No, YOU need to get a clue. Maybe learn a little about money & banking.

Depression is here regardless. This bailout will do nothing but exacerbate the inflation.

Better plan, how about the people who are actually willing to bailout these parasites do so via donations. Let's see just how much you will contribute. Even more interesting, how much are the execs & principal employees of these firms willing to contribute.

Don't know about you, but I'm sure they wouldn't give a penny.

 

[Mecro]

Quote from Landis82:

The 700 billion dollar proposal by Paulson is not going solely to Wall Street investment banks.

Goldman Sachs (of which Paulson holds A LOT of stock) and Morgan Stanley are sure to be key sellers of this subprime crap to the RTC.

 

[swtrader]

Quote from Raptor Deus:

The solution would be to create a 700B real estate management company to mop up all residential distressed real estate and rent it out to the people who are about to jump ship.

Sit on this real estate until wages catch up, a decade perhaps and then sell at cost. Screw interest.

It's not a good solution but it would stop the hemorrhage.

why are taxpayers obligated to subsidize housing prices at levels where people who work cant afford them?

all of a sudden, we lost faith in 'free markets'

 

[poyayan]

Quote from Raptor Deus:

The solution would be to create a 700B real estate management company to mop up all residential distressed real estate and rent it out to the people who are about to jump ship.

Sit on this real estate until wages catch up, a decade perhaps and then sell at cost. Screw interest.

It's not a good solution but it would stop the hemorrhage.

The thing we are arguing right now is who is going to do the mop up and how to split the lost.

Government doesn't care about mortgage or housing price. It cares about the decrease of housing asset which will lock up banks. That, in turn, shrink credit available for normal business.

If Government can get the credit market function, it could care less about mortgage problem just like the tech bubble.

 

[swtrader]

Quote from Mecro:

Goldman Sachs (of which Paulson holds A LOT of stock) and Morgan Stanley are sure to be key sellers of this subprime crap to the RTC.

this is such a blatent conflict of interest that paulson should be relieved of his post

any judge would be asked to recuse himself for a matter far less signifigant

plain and simple, paulson is attempting to sell his assets (that are held in GS) to the taxpayer, far far above market rates

criminal

 

[Raptor Deus]

Quote from swtrader:

why are taxpayers obligated to subsidize housing prices at levels where people who work cant afford them?

all of a sudden, we lost faith in 'free markets'

because if not, ALL taxpayer's real estate will keep sinking in value without a catalyst to help create a bottom quickly.