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SilverMark -> RE: Negotiations Falter on Bailout Deal, how long will this take? (9/26/2008 5:45:28 AM)
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No one likes either side of this coin without a doubt! The fact remains that this morning when the markets open due to this lack of a "deal" chances are we will see a rather huge decline. Companies credit ratings are going to fall, the dollar will tumble again and oil will be moving upward....What plan is it that you want these people to follow?
No matter how it is that we extricate ourselves, WE LOSE! but, for the sake of our own country we had best better DO SOMETHING! Bush is an idiot with no political capitol and we have to depend on him to get something accomplished? The Democrats are moving forward and the Republicans are holding out....politics with bad timing?
"The plan circulated by Cantor calls for a mortgage-backed security insurance fund, rather than taxpayer-funded purchases of those securities. The plan calls on the Treasury to design system to charge premiums to mortgage-backed security holders to finance this insurance, according to a fact sheet.
Republicans also seek to ``remove regulatory and tax barriers that are currently blocking private capital formation.'' It also suggests that regulators call on financial institutions to suspend dividends, along with other steps to address liquidity problems." Just wonderful even less regulation....it has worked so well so far? I understand the wish for capital investment from someone aside from the U.S. Government but, isn't that how we got here? Who is going to invest in these securities? Where will that money come from? This is a bill no one wants, but there had better be a bill of some sort that addresses a solution.Another HUGE bank died last night how many more before there is action? I am not smart enough to answer these questions...hell ,I am surprised I can even ask them but, here is what I know, I own a few retail stores that are dying due to a lack of traffic, a lack of confidence from consumers and cash flow is the only way to pay the bills. There is no credit for a small business like mine and we are not extravagant in anyway. In my business dealings I am very VERY cautious...It's MY money and I don't take it lightly! We need MOVEMENT and it had better happen quickly! I am far from alone in this plight. I have talked to people from around the country in my industry and there is NO GOOD NEWS! so we sit and wait? I am a capitalist, I am an entrepreneur, I risk everything I own daily, just by doing what I do and unfortunately for me and others like me, the future looks bleak. I have 30+ employees if within the next few weeks something doesn't change I will have less come October. Most small businesses are very similar to mine and as they decline and as cash flow and reserves dwindle there are going to be many LESS! I don't want huge deficits, I don't want quasi-socialism, I understand the risks I take and am willing to pay for them but, I have done nothing wrong and might end up paying the ultimate cost because of infighting and politics?
Hell, raise my taxes, lower everyone else's but get people moving forward! Maybe I'm wrong, maybe we shouldn't do anything just let the banks collapse, the market to tumble and the strongest will survive...but, if you work for a small to medium sized business start looking for somewhere else to work...We may not exist in the future as it is!...
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