Score One For America.

Quote from CPTrader:

This notion that without credit we will die is ridiculous.

It is the crazy credit that is killing us---and you want more!
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Given your response, my guess is that you don't even know what the Commercial Paper market is. You obviously have ZERO understanding of how the banking system facilitates economic growth.

Time for an Econ. 1 class, my friend.
 
Quote from libertad:

No...

Everyone knows there is going to be some form of a deal.....

It will be better than this one......

A deal...yeah....just not this one....
A better one...

This is why today is good....
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Yupe. I will suggest one deal.

Form a 700B national bank that buy non-financial commercial paper. Guys like Catapillar, Deere will get the loan.

Allow/encourage PE, hedge fund to participate in non-financial commercial paper.

Once the government gets the non financial comercial paper rolling, the crisis is over. You banks can decided whether you want to be a zombie bank or mark to market and face reality.

When the dusk is settled, we will see some new banks and some old banks will be gone.

This is the definition of free market.
 
Quote from drsteph:

Well, if the credit markets 'sieze', but there are still people with cash out there (what people are holding their assets in for the most part), then some enterprising soul will come up with a mechanism to connect the two and in doing so, 1) make a profit and 2) maintain these people's jobs.

And if the solution makes an end-run around traditional financing, so be it.

Furthermore, if these financing rates rise (another word for call money), it might make finance people think twice about overleverage and keep their balance sheets healthier.

Short term pain for long term gain.
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Global as well as domestic commerce does not occur with the use of cash.
Again, your thinking is rather naive.
 
Quote from drsteph:

Well, if the credit markets 'sieze', but there are still people with cash out there (what people are holding their assets in for the most part), then some enterprising soul will come up with a mechanism to connect the two and in doing so, 1) make a profit and 2) maintain these people's jobs.

And if the solution makes an end-run around traditional financing, so be it.

Furthermore, if these financing rates rise (another word for call money), it might make finance people think twice about overleverage and keep their balance sheets healthier.

Short term pain for long term gain.
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Ding! Ding! Ding! We have a winner here.
 
Quote from drsteph:

Short term pain for long term gain.
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Thank you sir.

The short sighted worry-warts just don't seem to get it.

This is nothing more than Wallstreet/Government trying to create a hostage situation, with "the economy" as the hostage, and the american people as "rich guy begin extorted for his money".

Actually I'm amazed there hasn't been a run on Washington along with Riots.
 
Quote from libertad:

No...

Everyone knows there is going to be some form of a deal.....

It will be better than this one......

A deal...yeah....just not this one....
A better one...

This is why today is good....
More...

It won't necessarily be a better one. It will just be a little bit different. In this latest revision DEMs gave up a bit too much of what they wanted. In the end, they couldn't pull quite enough votes. Now they will go back and put in a couple little things that the DEMs were forced to take out, which will be just enough to convince the DEM majority to vote this through.

This next revision will almost surely be just a touch more liberal than the last one. The GOP reps who voted against this are going to vote against anything put on their desk. There are few DEMs voting against the bill on principal, but rather because they removed the portions that they liked. If they put a few of those portions back in, they will get just enough votes to pass it.
 
Quote from Landis82:

Given your response, my guess is that you don't even know what the Commercial Paper market is. You obviously have ZERO understanding of how the banking system facilitates economic growth.
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LOL, and so do they they. :D :D :D
 
Quote from MandelbrotSet:

Thank you sir.

The short sighted worry-warts just don't seem to get it.

This is nothing more than Wallstreet/Government trying to create a hostage situation, with "the economy" as the hostage, and the american people as "rich guy begin extorted for his money".
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With all due respect, you sound like yet another person on ET that failed their basic Econ. 101A class in college.

If you think that the commercial paper market is operating in a "healthy" manner, you obviously have no clue.
 
Quote from Landis82:

Given your response, my guess is that you don't even know what the Commercial Paper market is. You obviously have ZERO understanding of how the banking system facilitates economic growth.

Time for an Econ. 1 class, my friend.
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Still handing out Econ 101 lessons Landis? Seems your the one who can't seem to come to grips with this.
 
Quote from Landis82:

But unfortunately, the average guy in the street "Joe-6pack" has absolutely ZERO understanding of how money and capital markets work ( the banking system ). You can also put 98% of Congress in that camp as well. Zero understanding of how the economy and banking system are related.

"Joe-6pack" won't get his economics lesson until he has lost his job because the company that he works for was unable to finance their payroll through the "frozen" commercial paper market, or because the order at his company just dried-up because of a lack of financing.

This is NOT a "great" day for America.

It simply confirms what we already know . . . that the average American is far too dumb to be governed. They are like a DOG, that only knows how to react to one-syllable words like, "fetch" "stay" and "sit".

They are unable to think through even the most slightly complicated issues, like the current one.

Bring on double-digit unemployment rates . . . and an economy that comes screeching to a halt with one bankruptcy after another. It's already happening.

What a shame.
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Ron Paul voted against the bill. Period.
Keep pumping money in and make the dollar worthless and we will have much greater problems than this. Please watch the video of Ron Paul today.
 
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