welfare for bankers?

tangozulu · 03-18-2008, 10:35 AM

OK Guys,

I'm a conservative, a fiscal conservative, but a Canadian one. (one difference being I love my healthcare system)
So where are all you die hard Republican Conservatives venting your rage at this huge taxpayer bailout of wall street?
Surely I shouldn't be one the pointing out this obsene lefty giveaway to a bunch of corp yaucht owners. Greed is good remember..... or maybe not.
Fieldmouse, DougMD where are you? I want your take on all this.

F3d · 03-18-2008, 11:09 AM

The Fed's bailing them out because it'll cause a chain reaction if they didn't. They'll probably cut interest rates. Some people are starting to move to gold. The Fed's doing all they can to try to keep gold low.

F3d · 03-18-2008, 11:24 AM

Breaking News: Fed just cut key interest rates by 3/4's of a percentage point.

http://www.foxbusiness.com/markets/i...525622_18.html

Fieldmouse · 03-18-2008, 11:26 AM

Delete

Fieldmouse · 03-18-2008, 11:28 AM

I'm not happy they put the tax payer on the hook for 30 billion should all the loans go bad. So far it's not a bail out yet.

Charlie P · 03-18-2008, 11:37 AM

Quote:

I'm not happy

is that why you said it twice?

Fieldmouse · 03-18-2008, 11:45 AM

No my DSL went out today at 12:15. I've already put my high tech test equipment on the line and determined it''s down at the street corner. I now must wait for Jeff, my local technician to show up and replace the card in the DSLAM. Therefore, I must go to my back up wireless PCS card. It's not the fastest and sometimes posts don't make it through the slow response network of HNI. The first one didn't look like it made it.

Is that enough geeky explaination or do you require more?

Wolf killer · 03-18-2008, 11:46 AM

I am a hardcore conservative, I think this bail out is a bad idea.I think we need to letthe banks that gave bad loans go broke. Intrest only loans & 100-percent financing are a bad deal that many people got sucked into.
This country is in the early stages of recession.

Fieldmouse · 03-18-2008, 12:26 PM

Quote:

ORIGINAL: Wolf killer

I am a hardcore conservative, I think this bail out is a bad idea.I think we need to letthe banks that gave bad loans go broke. Intrest only loans & 100-percent financing are a bad deal that many people got sucked into.
This country is in the early stages of recession.

I don't believe Bears Stearns was in the direct mortgage biz. They were in the investment side that buys the paper ie loans that are normalized on the market.

On a side note, the FBIhas currently expanded their investigation into the mortgage lenders to include 17 companies.

tangozulu · 03-18-2008, 02:14 PM

So then we all agree the market is not always right?