[CA renter]

The question that we are all dying to hear the answer to is; what is the consequence of no bail-out?
————————–

Absolutely spot-on!

Will interest rates rise? Yes.

Will housing and stock prices crash? Yes!

Will jobs be lost? Yes.

Will retirement funds experience extreme stress/insolvency? Yes.

Will we all be better for it well into the future (as opposed to what would happen if we continued to solve credit bubble problems with more credit bubbles)? Yes!

————-
All that being said, we do need to protect the money that really is there in FDIC-insured accounts and we should protect money market funds to some extent. As much as I hate to say it, we did need to protect the Fannie and Freddie bond holders because they are so entrenched in our financial system.

I also advocate a work program and deficit spending for R&D in energy, transportation and health care technologies.

Ultimately, we need a bailout, but Wall Street should not receive a single penny of our money.

[CA renter]

Sounds like a fun time! 🙂

[CA renter]

Sounds like a fun time! 🙂

[CA renter]

Sounds like a fun time! 🙂

[CA renter]

Sounds like a fun time! 🙂

[CA renter]

Sounds like a fun time! 🙂

[CA renter]

While watching the hearing this morning and listening to Paulson’s terms, I couldn’t help but think the Paulson will be back in the private sector next year…probably with an entity that will be buying all these “illiquid” assets from the government.

Since we, the taxpayers, get to pay the banks’ wishing prices, the govt will probably “discover” after-the-fact that they really weren’t worth that much after all, and will have to turn them around and sell them at “market price” which Bernanke is currently calling a “fire sale” price.

So…the banks get rid of their bad paper at their wishing price, the govt (that’s us) overpays for them, then they will be resold back into the private market at their true market price (much less than what we paid for them). The private financial sector wins on both ends, and the taxpayers lose in the middle.

If this passes, it will be the single-most obvious display of where our representatives’ loyalties lie…and it ain’t with us, folks.

[CA renter]

While watching the hearing this morning and listening to Paulson’s terms, I couldn’t help but think the Paulson will be back in the private sector next year…probably with an entity that will be buying all these “illiquid” assets from the government.

Since we, the taxpayers, get to pay the banks’ wishing prices, the govt will probably “discover” after-the-fact that they really weren’t worth that much after all, and will have to turn them around and sell them at “market price” which Bernanke is currently calling a “fire sale” price.

So…the banks get rid of their bad paper at their wishing price, the govt (that’s us) overpays for them, then they will be resold back into the private market at their true market price (much less than what we paid for them). The private financial sector wins on both ends, and the taxpayers lose in the middle.

If this passes, it will be the single-most obvious display of where our representatives’ loyalties lie…and it ain’t with us, folks.

[CA renter]

While watching the hearing this morning and listening to Paulson’s terms, I couldn’t help but think the Paulson will be back in the private sector next year…probably with an entity that will be buying all these “illiquid” assets from the government.

Since we, the taxpayers, get to pay the banks’ wishing prices, the govt will probably “discover” after-the-fact that they really weren’t worth that much after all, and will have to turn them around and sell them at “market price” which Bernanke is currently calling a “fire sale” price.

So…the banks get rid of their bad paper at their wishing price, the govt (that’s us) overpays for them, then they will be resold back into the private market at their true market price (much less than what we paid for them). The private financial sector wins on both ends, and the taxpayers lose in the middle.

If this passes, it will be the single-most obvious display of where our representatives’ loyalties lie…and it ain’t with us, folks.

[CA renter]

While watching the hearing this morning and listening to Paulson’s terms, I couldn’t help but think the Paulson will be back in the private sector next year…probably with an entity that will be buying all these “illiquid” assets from the government.

Since we, the taxpayers, get to pay the banks’ wishing prices, the govt will probably “discover” after-the-fact that they really weren’t worth that much after all, and will have to turn them around and sell them at “market price” which Bernanke is currently calling a “fire sale” price.

So…the banks get rid of their bad paper at their wishing price, the govt (that’s us) overpays for them, then they will be resold back into the private market at their true market price (much less than what we paid for them). The private financial sector wins on both ends, and the taxpayers lose in the middle.

If this passes, it will be the single-most obvious display of where our representatives’ loyalties lie…and it ain’t with us, folks.

[CA renter]

While watching the hearing this morning and listening to Paulson’s terms, I couldn’t help but think the Paulson will be back in the private sector next year…probably with an entity that will be buying all these “illiquid” assets from the government.

Since we, the taxpayers, get to pay the banks’ wishing prices, the govt will probably “discover” after-the-fact that they really weren’t worth that much after all, and will have to turn them around and sell them at “market price” which Bernanke is currently calling a “fire sale” price.

So…the banks get rid of their bad paper at their wishing price, the govt (that’s us) overpays for them, then they will be resold back into the private market at their true market price (much less than what we paid for them). The private financial sector wins on both ends, and the taxpayers lose in the middle.

If this passes, it will be the single-most obvious display of where our representatives’ loyalties lie…and it ain’t with us, folks.

[CA renter]

sdrealtor,

Did you guys happen to have a heated political conversation during this camp out?

I think I know someone who was there, too (if it was a group with kids).

[CA renter]

sdrealtor,

Did you guys happen to have a heated political conversation during this camp out?

I think I know someone who was there, too (if it was a group with kids).

[CA renter]

sdrealtor,

Did you guys happen to have a heated political conversation during this camp out?

I think I know someone who was there, too (if it was a group with kids).

[CA renter]

sdrealtor,

Did you guys happen to have a heated political conversation during this camp out?

I think I know someone who was there, too (if it was a group with kids).

[Author]

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