Lawmakers: Financial bailout agreement reached (Full Version)

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SilverMark -> Lawmakers: Financial bailout agreement reached (9/25/2008 11:59:46 AM)

Seems like they have already forged an agreement. Interesting article as well. http://news.yahoo.com/s/ap/20080925/ap_on_bi_ge/financial_meltdown



slvemike4u -> RE: Lawmakers: Financial bailout agreement reached (9/25/2008 1:30:13 PM)

Not so fast SilverMark....not yet....



Vendaval -> RE: Lawmakers: Financial bailout agreement reached (9/25/2008 2:30:52 PM)

This whole process is going to take time and that is stated to be in short supply.  Meanwhile, the mass of voters are pissed off and demanding accountability from their Representatives and that the failure of Wall Street executives is not rewarded.   [sm=wife.gif]  [sm=rantint.gif]
 
Link here to another article -

"Bailout deal would start with $250 billion, limit executive pay"

By David Lightman and Margaret Talev | McClatchy Newspapers

"WASHINGTON — Congressional negotiators agreed Thursday on a sweeping $700 billion financial-system rescue plan that would provide strong supervision of the government bailout, give taxpayers a stake in any firms that benefit from it and limit the pay of their executives."

http://www.mcclatchydc.com/homepage/story/53085.html



SilverMark -> RE: Lawmakers: Financial bailout agreement reached (9/25/2008 2:36:10 PM)

Not passed...just agreed to mike. I am sure it is all in principal with other things to be decided.




thornhappy -> RE: Lawmakers: Financial bailout agreement reached (9/25/2008 5:30:11 PM)

Bailout Plan Stalls After Day of Talks; Bernanke and Paulson Head Back to Hill

thornhappy



hizgeorgiapeach -> RE: Lawmakers: Financial bailout agreement reached (9/25/2008 5:37:57 PM)

Alas, so much for the grand speechs stating a need for accountability and to actually take some TIME to work on this to get it Right for a change...



bipolarber -> RE: Lawmakers: Financial bailout agreement reached (9/25/2008 5:53:27 PM)

Here's the thing: The second iteration contained everything that was needed to make the patch work. It wouldn't have been the full $700 billion, not all at once anyway. There was oversight, there was transparency, there was a chance for repayment if things bounced back. But...

Then McCain showed up. The republicans went into an hour long meeting, and suddenly, the support for it blew up in favor a republican alternative... one that was far more complex, and confusing to everyone.

So, they are as of now, back in the conference room, like a scene from "12 Angry Men" trying to hash it out.

But I have to wonder... are they delaying things, just to help McCain look good, like he's a white knight ridining in to (like Mighty Mouse) "Save the day!"



DarkSteven -> RE: Lawmakers: Financial bailout agreement reached (9/25/2008 6:21:04 PM)

The whole thing is insane.

The problem arose because claiming that dreck is actually worth something, was immensely profitable,  So a bubble was produced and sleazy people got rich from it.

The obvious solution is to let the bubble deflate.  That's called a correction.

The myth is that credit is unavailable.. It IS available.  For entities that pay on time.  It may be at high rates for others, at least for a while. 

The bailout will avoid or prolong the bubble deflating.  It will cost an arm and a leg to do so, and may even create a huge bureaucracy to administer it.  To add insult to injury, the program would hire as consultants the very same bastards that created the problem.

The day that that bill is signed is the day that a part of America dies. 



SilverMark -> RE: Lawmakers: Financial bailout agreement reached (9/25/2008 6:59:50 PM)

So much for that one.....



slvemike4u -> RE: Lawmakers: Financial bailout agreement reached (9/25/2008 7:07:28 PM)

Yup...dead in the water!!!!!



MzMia -> RE: Lawmakers: Financial bailout agreement reached (9/25/2008 7:14:52 PM)

quote:

ORIGINAL: slvemike4u

Yup...dead in the water!!!!!


I am sitting here chuckling.
They are starting to fight like cats and dogs.
I am glad at least there is some THOUGHT going into this,
and the companies should be made to pay the government BACK,
with interest.
Did I just hear some Republicans just walked out?
Hell yes, I want to see them duke this out.
Round 2 tomorrow!
[sm=fight.gif]



slvemike4u -> RE: Lawmakers: Financial bailout agreement reached (9/25/2008 7:20:28 PM)

I don't mind them fighting either MzMia...is there any chance we get to win in the end?



MzMia -> RE: Lawmakers: Financial bailout agreement reached (9/25/2008 7:24:15 PM)

quote:

ORIGINAL: slvemike4u

I don't mind them fighting either MzMia...is there any chance we get to win in the end?


Let's hope this might be one of the few times, Joe Citizen wins!
Can you get or borrow money for NOTHING?

Why the hell shouldn't they pay all or most of it back, with interest, when
their profits start going through the damn roof?



slvemike4u -> RE: Lawmakers: Financial bailout agreement reached (9/25/2008 7:31:58 PM)

And regulating their compensation packages is considered "punitive".Accept public money reject public oversight and regulation...Can't have it both ways,yet they don't understand this.



hizgeorgiapeach -> RE: Lawmakers: Financial bailout agreement reached (9/25/2008 9:27:50 PM)

They "understand" it Mike - they just don't Agree with it or Like it or think it should apply to them the same way it applies to "the little people" (meaning anyone who makes less than $3M/year at this point.)



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