[gandalf]

Yeah, I agree. For $2T dollars, seems like US Govt could have established a national business/retail “bank of last resort”, no interest but guaranteed transactions, letters of credit, etc. Sophisticated cash management isn’t the problem, it’s what the banks and IBs did with the cash while they were supposed to be ‘holding’ it. They lost it.

[gandalf]

Yeah, I agree. For $2T dollars, seems like US Govt could have established a national business/retail “bank of last resort”, no interest but guaranteed transactions, letters of credit, etc. Sophisticated cash management isn’t the problem, it’s what the banks and IBs did with the cash while they were supposed to be ‘holding’ it. They lost it.

[gandalf]

Yeah, I agree. For $2T dollars, seems like US Govt could have established a national business/retail “bank of last resort”, no interest but guaranteed transactions, letters of credit, etc. Sophisticated cash management isn’t the problem, it’s what the banks and IBs did with the cash while they were supposed to be ‘holding’ it. They lost it.

[gandalf]

Yeah, I agree. For $2T dollars, seems like US Govt could have established a national business/retail “bank of last resort”, no interest but guaranteed transactions, letters of credit, etc. Sophisticated cash management isn’t the problem, it’s what the banks and IBs did with the cash while they were supposed to be ‘holding’ it. They lost it.

[gandalf]

Yeah, I agree. For $2T dollars, seems like US Govt could have established a national business/retail “bank of last resort”, no interest but guaranteed transactions, letters of credit, etc. Sophisticated cash management isn’t the problem, it’s what the banks and IBs did with the cash while they were supposed to be ‘holding’ it. They lost it.

[gandalf]

asia, it’s a hard situation. I’m not tring to change your mind or anything but it’s not a black-and-white issue. I run a business working with large, reputable and solvent organizations. Calls to our clients these past couple of weeks to see if there were concerns about what was happening on Wall Street and in the markets. In particular, we have a couple of invoices pending.

Almost universally, they were very concerned. These aren’t casual parties, day traders watching Bloomberg, they’re senior management, accounting and systems people at large organizations trying to operate going-concerns with thousands of employees and work to do. They rely on bank credit and sophisticated cash management practices to operate.

If the crisis had been allowed to spiral out of control, and it still might, the impact on the general economy would have been much greater, possibly catastrophic, in terms of businesses being unable to meet obligations and possibly failing, jobs being lost, supply chains and transportation networks being disrupted, etc, etc.

I’m not supporting “No Banker Left Behind”. I feel incredibly conflicted and am morally disgusted with the bailout. Just saying it’s not an easy issue, and hard to paint in partisan terms — Dems did this, Reps did that, etc. These are not ordinary times.

If it matters, I’m absolutely for Bailout version 2.0 over version 1.0, the “European Version”. US Govt should receive equity in troubled banks with the opportunity to liquidate holdings once the markets regain footing. This is slightly less disgusting than relieving banks of bad loans. Both solutions are pretty much awful though.

[gandalf]

asia, it’s a hard situation. I’m not tring to change your mind or anything but it’s not a black-and-white issue. I run a business working with large, reputable and solvent organizations. Calls to our clients these past couple of weeks to see if there were concerns about what was happening on Wall Street and in the markets. In particular, we have a couple of invoices pending.

Almost universally, they were very concerned. These aren’t casual parties, day traders watching Bloomberg, they’re senior management, accounting and systems people at large organizations trying to operate going-concerns with thousands of employees and work to do. They rely on bank credit and sophisticated cash management practices to operate.

If the crisis had been allowed to spiral out of control, and it still might, the impact on the general economy would have been much greater, possibly catastrophic, in terms of businesses being unable to meet obligations and possibly failing, jobs being lost, supply chains and transportation networks being disrupted, etc, etc.

I’m not supporting “No Banker Left Behind”. I feel incredibly conflicted and am morally disgusted with the bailout. Just saying it’s not an easy issue, and hard to paint in partisan terms — Dems did this, Reps did that, etc. These are not ordinary times.

If it matters, I’m absolutely for Bailout version 2.0 over version 1.0, the “European Version”. US Govt should receive equity in troubled banks with the opportunity to liquidate holdings once the markets regain footing. This is slightly less disgusting than relieving banks of bad loans. Both solutions are pretty much awful though.

[gandalf]

asia, it’s a hard situation. I’m not tring to change your mind or anything but it’s not a black-and-white issue. I run a business working with large, reputable and solvent organizations. Calls to our clients these past couple of weeks to see if there were concerns about what was happening on Wall Street and in the markets. In particular, we have a couple of invoices pending.

Almost universally, they were very concerned. These aren’t casual parties, day traders watching Bloomberg, they’re senior management, accounting and systems people at large organizations trying to operate going-concerns with thousands of employees and work to do. They rely on bank credit and sophisticated cash management practices to operate.

If the crisis had been allowed to spiral out of control, and it still might, the impact on the general economy would have been much greater, possibly catastrophic, in terms of businesses being unable to meet obligations and possibly failing, jobs being lost, supply chains and transportation networks being disrupted, etc, etc.

I’m not supporting “No Banker Left Behind”. I feel incredibly conflicted and am morally disgusted with the bailout. Just saying it’s not an easy issue, and hard to paint in partisan terms — Dems did this, Reps did that, etc. These are not ordinary times.

If it matters, I’m absolutely for Bailout version 2.0 over version 1.0, the “European Version”. US Govt should receive equity in troubled banks with the opportunity to liquidate holdings once the markets regain footing. This is slightly less disgusting than relieving banks of bad loans. Both solutions are pretty much awful though.

[gandalf]

asia, it’s a hard situation. I’m not tring to change your mind or anything but it’s not a black-and-white issue. I run a business working with large, reputable and solvent organizations. Calls to our clients these past couple of weeks to see if there were concerns about what was happening on Wall Street and in the markets. In particular, we have a couple of invoices pending.

Almost universally, they were very concerned. These aren’t casual parties, day traders watching Bloomberg, they’re senior management, accounting and systems people at large organizations trying to operate going-concerns with thousands of employees and work to do. They rely on bank credit and sophisticated cash management practices to operate.

If the crisis had been allowed to spiral out of control, and it still might, the impact on the general economy would have been much greater, possibly catastrophic, in terms of businesses being unable to meet obligations and possibly failing, jobs being lost, supply chains and transportation networks being disrupted, etc, etc.

I’m not supporting “No Banker Left Behind”. I feel incredibly conflicted and am morally disgusted with the bailout. Just saying it’s not an easy issue, and hard to paint in partisan terms — Dems did this, Reps did that, etc. These are not ordinary times.

If it matters, I’m absolutely for Bailout version 2.0 over version 1.0, the “European Version”. US Govt should receive equity in troubled banks with the opportunity to liquidate holdings once the markets regain footing. This is slightly less disgusting than relieving banks of bad loans. Both solutions are pretty much awful though.

[gandalf]

asia, it’s a hard situation. I’m not tring to change your mind or anything but it’s not a black-and-white issue. I run a business working with large, reputable and solvent organizations. Calls to our clients these past couple of weeks to see if there were concerns about what was happening on Wall Street and in the markets. In particular, we have a couple of invoices pending.

Almost universally, they were very concerned. These aren’t casual parties, day traders watching Bloomberg, they’re senior management, accounting and systems people at large organizations trying to operate going-concerns with thousands of employees and work to do. They rely on bank credit and sophisticated cash management practices to operate.

If the crisis had been allowed to spiral out of control, and it still might, the impact on the general economy would have been much greater, possibly catastrophic, in terms of businesses being unable to meet obligations and possibly failing, jobs being lost, supply chains and transportation networks being disrupted, etc, etc.

I’m not supporting “No Banker Left Behind”. I feel incredibly conflicted and am morally disgusted with the bailout. Just saying it’s not an easy issue, and hard to paint in partisan terms — Dems did this, Reps did that, etc. These are not ordinary times.

If it matters, I’m absolutely for Bailout version 2.0 over version 1.0, the “European Version”. US Govt should receive equity in troubled banks with the opportunity to liquidate holdings once the markets regain footing. This is slightly less disgusting than relieving banks of bad loans. Both solutions are pretty much awful though.

[gandalf]

Ha,ha. Birthcontrolmobile cracked me up.

tg, man. That’s a good rant. That’s my rant too. Holy shit is that my rant. I get sick of hearing myself. [insert joke here] Add up all the money we’ve spent on Iraq, bailouts, etc. All the time we’ve wasted on distractions and meaningless issues. We’re suckers.

9/11 should have been a holy wake-up call for all of us, opportunity to chart a clear course. Instead, we went to the mall and went shopping. Gotta keep the economy going. Buy a big truck too, so our imports of foreign oil go up another 25%. It’s just insane.

I’m so tired of retards running this country. I want Osama dead. I want an electric car. I want CNG and solar and wind and nuclear and drill if you have to, but stop sending our money to Saudi Arabia so they can stab us in the back. Ten years from now, everybody should be driving electric. Everything else is bullshit.

[gandalf]

Ha,ha. Birthcontrolmobile cracked me up.

tg, man. That’s a good rant. That’s my rant too. Holy shit is that my rant. I get sick of hearing myself. [insert joke here] Add up all the money we’ve spent on Iraq, bailouts, etc. All the time we’ve wasted on distractions and meaningless issues. We’re suckers.

9/11 should have been a holy wake-up call for all of us, opportunity to chart a clear course. Instead, we went to the mall and went shopping. Gotta keep the economy going. Buy a big truck too, so our imports of foreign oil go up another 25%. It’s just insane.

I’m so tired of retards running this country. I want Osama dead. I want an electric car. I want CNG and solar and wind and nuclear and drill if you have to, but stop sending our money to Saudi Arabia so they can stab us in the back. Ten years from now, everybody should be driving electric. Everything else is bullshit.

[gandalf]

Ha,ha. Birthcontrolmobile cracked me up.

tg, man. That’s a good rant. That’s my rant too. Holy shit is that my rant. I get sick of hearing myself. [insert joke here] Add up all the money we’ve spent on Iraq, bailouts, etc. All the time we’ve wasted on distractions and meaningless issues. We’re suckers.

9/11 should have been a holy wake-up call for all of us, opportunity to chart a clear course. Instead, we went to the mall and went shopping. Gotta keep the economy going. Buy a big truck too, so our imports of foreign oil go up another 25%. It’s just insane.

I’m so tired of retards running this country. I want Osama dead. I want an electric car. I want CNG and solar and wind and nuclear and drill if you have to, but stop sending our money to Saudi Arabia so they can stab us in the back. Ten years from now, everybody should be driving electric. Everything else is bullshit.

[gandalf]

Ha,ha. Birthcontrolmobile cracked me up.

tg, man. That’s a good rant. That’s my rant too. Holy shit is that my rant. I get sick of hearing myself. [insert joke here] Add up all the money we’ve spent on Iraq, bailouts, etc. All the time we’ve wasted on distractions and meaningless issues. We’re suckers.

9/11 should have been a holy wake-up call for all of us, opportunity to chart a clear course. Instead, we went to the mall and went shopping. Gotta keep the economy going. Buy a big truck too, so our imports of foreign oil go up another 25%. It’s just insane.

I’m so tired of retards running this country. I want Osama dead. I want an electric car. I want CNG and solar and wind and nuclear and drill if you have to, but stop sending our money to Saudi Arabia so they can stab us in the back. Ten years from now, everybody should be driving electric. Everything else is bullshit.

[gandalf]

Ha,ha. Birthcontrolmobile cracked me up.

tg, man. That’s a good rant. That’s my rant too. Holy shit is that my rant. I get sick of hearing myself. [insert joke here] Add up all the money we’ve spent on Iraq, bailouts, etc. All the time we’ve wasted on distractions and meaningless issues. We’re suckers.

9/11 should have been a holy wake-up call for all of us, opportunity to chart a clear course. Instead, we went to the mall and went shopping. Gotta keep the economy going. Buy a big truck too, so our imports of foreign oil go up another 25%. It’s just insane.

I’m so tired of retards running this country. I want Osama dead. I want an electric car. I want CNG and solar and wind and nuclear and drill if you have to, but stop sending our money to Saudi Arabia so they can stab us in the back. Ten years from now, everybody should be driving electric. Everything else is bullshit.

[Author]

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