Poll - have Obama-Geithner caused the next major decline?

Have Obama-Geithner triggered a crisis in confidence downside move?

  • No Clue

    Votes: 22 10.6%

  • No

    Votes: 52 25.0%

  • Yes

    Votes: 134 64.4%
  • Total voters
    208
Quote from BSAM:

Doubtful? I doubt it. Ever heard the phrase, "The buck stops here"? Oh, wait, I forgot.....None of the crap that happened the last eight years is Little Bush's fault, right? lmao

No excuses. We're in a world of shit. It happened under Little George Bush. The rest of the country/world "gets it", why don't you?

Have you figured yet, who won the last election and why???

Go ahead. Give us some more spin now, as we all spin right down the toilet. Meet you in the sewer.
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Banks aren't controlled by any government entity. Mandates by a democratic congress loosened lending practices, created a housing bubble, and forced banks to charge too little interest for loans. I still blame banks for not charging higher interest rates to make these loans, however.

Since you don't understand modern markets, the argument is falling on deaf ears anyway. I wouldn't put any of it on government, Republican or Democrat. There's plenty of blame to go around in every party, even the treasury and fed.
 
Quote from bwolinsky:



Depression: Loan money to buy stocks at 30:1 with a flat 20% tarrif called the Smoot Hawley Tariff.

Modern Problem: Loan money to buy houses at more than 7 times annual income, as they do it in London. Luckily we have no tariff just yet, so I think we can overcome this.

90-91 SNL crisis is paltry to the problem today, but still goes back to making bad loans, which if you don't understand up to this point, is out a President's control.
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If you want further information, please re-read the post before you blather more bumper stick slogans. But don't get me wrong, you'd probably be surprised who I voted for.
 
Quote from bwolinsky:

On confidence, better communication is needed, as there doesn't appear to be any magic bullet coming.
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Plan or no plan, the market voted. It was an utter failure.

Banks got trashed every day since the announcement.

The market has ZERO confidence in Geithner's ability to return stability to the banks.

Unless the point of his plan was to create panic selling in the banks?! Hey mission accomplished Geithner!!:D
 
Quote from bwolinsky:

Doubtful. Banks bankrupted the United States with Lax Lending Practices mainly promoted by a Democratic Congress, but Republicans were shouted down when they attempted the CDO, CDS, and CMO markets.

Depression: Loan money to buy stocks at 30:1 with a flat 20% tarrif called the Smoot Hawley Tariff.

Modern Problem: Loan money to buy houses at more than 7 times annual income, as they do it in London. Luckily we have no tariff just yet, so I think we can overcome this.

90-91 SNL crisis is paltry to the problem today, but still goes back to making bad loans, which if you don't understand up to this point, is out a President's control.
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You have no idea what you are talking about.

Who do you think created legislation such as the "Commodity Futures Modernization Act of 2000" without any committee hearings or a recorded vote . . . that allowed for Banks to play with CDS without any regulation or oversight?

Does the name Phil Gramm ring a bell at all? Tom Ewing? Tom Bliley? Larry Combest? Jim Leach? Pete Fitzgerald? or Chuck Hagel?

Stop with your ridiculous political bias.
Get real.
 
"“The president has really asked us all to focus on the medium term, the long term, not to focus on market movements on a day to day basis, that’s not really the test we’re going to apply in judging whether this plan works,” Summers said."


Short at will.
 
Word on the street (via a Virginian Senator) is they're already planning the next trillion dollar bailout. They're talkin' 3 trillion dollars when it's all said and done. And when the tax-and-spenders get done spending, you know what's coming - the bill.

3 trillion dollars is enough damn money to give every resident in Nevada a million dollars, and still have enough money for the S&L bailout.
 
Three top economists -- Nouriel Roubini, of New York University; Kenneth Rogoff, of Harvard University; and Nariman Behravesh, chief economist for IHS Global Insight -- warned at an event on Friday that if the banking system is not fixed correctly and quickly, the severity of the financial crisis will only worsen.


The stimulus bill is "like giving a blood transfusion while the patient is still bleeding," Rogoff said at an event in Houston hosted by Cambridge Energy Research Associates. "If we're not going to fix the banking system at the same time, then it's just a temporary boost in the economy. We have simply not taken the proper decisive action with the banks."


from thestreet.com
 
Quote from Cdntrader:
Three top economists -- Nouriel Roubini, of New York University; Kenneth Rogoff, of Harvard University; and Nariman Behravesh, chief economist for IHS Global Insight -- warned at an event on Friday that if the banking system is not fixed correctly and quickly, the severity of the financial crisis will only worsen.
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Bunch of BS ers, they are just looking for a job and/or publicity.
They say Geithner's fix is wrong but they don't say how it should be done, because they have no idea either.
 
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