[gandalf]

SDR, I hate banks too. This bailout is bullshit. But here, what’s your take on this — serious question here that I honestly have no answer for:

If the banksters had gone down, especially the big ones, our money goes with them. Actually, and here’s the rub, they’ve lost a good deal of it already, obligations they can’t pay, hence the bailout.

Imagine a scenario where 10,000 business in San Diego County suddenly find their banks are insolvent, and as a result, they’ve been wiped out? No assets. Nothing to pay invoices, no payroll. What would happen if say, the neighborhood ‘Ralphs’, suddenly had no cash?

What should have happened other than the bailout?

[gandalf]

SDR, I hate banks too. This bailout is bullshit. But here, what’s your take on this — serious question here that I honestly have no answer for:

If the banksters had gone down, especially the big ones, our money goes with them. Actually, and here’s the rub, they’ve lost a good deal of it already, obligations they can’t pay, hence the bailout.

Imagine a scenario where 10,000 business in San Diego County suddenly find their banks are insolvent, and as a result, they’ve been wiped out? No assets. Nothing to pay invoices, no payroll. What would happen if say, the neighborhood ‘Ralphs’, suddenly had no cash?

What should have happened other than the bailout?

[gandalf]

SDR, I hate banks too. This bailout is bullshit. But here, what’s your take on this — serious question here that I honestly have no answer for:

If the banksters had gone down, especially the big ones, our money goes with them. Actually, and here’s the rub, they’ve lost a good deal of it already, obligations they can’t pay, hence the bailout.

Imagine a scenario where 10,000 business in San Diego County suddenly find their banks are insolvent, and as a result, they’ve been wiped out? No assets. Nothing to pay invoices, no payroll. What would happen if say, the neighborhood ‘Ralphs’, suddenly had no cash?

What should have happened other than the bailout?

[gandalf]

SDR, I hate banks too. This bailout is bullshit. But here, what’s your take on this — serious question here that I honestly have no answer for:

If the banksters had gone down, especially the big ones, our money goes with them. Actually, and here’s the rub, they’ve lost a good deal of it already, obligations they can’t pay, hence the bailout.

Imagine a scenario where 10,000 business in San Diego County suddenly find their banks are insolvent, and as a result, they’ve been wiped out? No assets. Nothing to pay invoices, no payroll. What would happen if say, the neighborhood ‘Ralphs’, suddenly had no cash?

What should have happened other than the bailout?

[gandalf]

SDR, I hate banks too. This bailout is bullshit. But here, what’s your take on this — serious question here that I honestly have no answer for:

If the banksters had gone down, especially the big ones, our money goes with them. Actually, and here’s the rub, they’ve lost a good deal of it already, obligations they can’t pay, hence the bailout.

Imagine a scenario where 10,000 business in San Diego County suddenly find their banks are insolvent, and as a result, they’ve been wiped out? No assets. Nothing to pay invoices, no payroll. What would happen if say, the neighborhood ‘Ralphs’, suddenly had no cash?

What should have happened other than the bailout?

[gandalf]

Thanks, car.

Bizarre to say the GSE’s are somehow at fault for what happened more than say, private sector Goldman that securitized the paper and sold the bonds, or private sector AIG that backstopped them selling insurance to speculators, or private sector Countrywide that originated the ridiculous loans in the first place.

Oooooo! Big government. Watch out. (Boo!)

Ironically, it’s just the opposite. If federal/state government and agencies had retained their historic role in regulating the financial-related industries, it would have prevented much of the speculative excess. The Fed, with responsible leadership, perhaps would have even tightened credit when the bubble had so clearly presented itself.

* * *

Any thoughts on the whole Coke-Pepsi thing?

I go for Mountain Dew.

[gandalf]

Thanks, car.

Bizarre to say the GSE’s are somehow at fault for what happened more than say, private sector Goldman that securitized the paper and sold the bonds, or private sector AIG that backstopped them selling insurance to speculators, or private sector Countrywide that originated the ridiculous loans in the first place.

Oooooo! Big government. Watch out. (Boo!)

Ironically, it’s just the opposite. If federal/state government and agencies had retained their historic role in regulating the financial-related industries, it would have prevented much of the speculative excess. The Fed, with responsible leadership, perhaps would have even tightened credit when the bubble had so clearly presented itself.

* * *

Any thoughts on the whole Coke-Pepsi thing?

I go for Mountain Dew.

[gandalf]

Thanks, car.

Bizarre to say the GSE’s are somehow at fault for what happened more than say, private sector Goldman that securitized the paper and sold the bonds, or private sector AIG that backstopped them selling insurance to speculators, or private sector Countrywide that originated the ridiculous loans in the first place.

Oooooo! Big government. Watch out. (Boo!)

Ironically, it’s just the opposite. If federal/state government and agencies had retained their historic role in regulating the financial-related industries, it would have prevented much of the speculative excess. The Fed, with responsible leadership, perhaps would have even tightened credit when the bubble had so clearly presented itself.

* * *

Any thoughts on the whole Coke-Pepsi thing?

I go for Mountain Dew.

[gandalf]

Thanks, car.

Bizarre to say the GSE’s are somehow at fault for what happened more than say, private sector Goldman that securitized the paper and sold the bonds, or private sector AIG that backstopped them selling insurance to speculators, or private sector Countrywide that originated the ridiculous loans in the first place.

Oooooo! Big government. Watch out. (Boo!)

Ironically, it’s just the opposite. If federal/state government and agencies had retained their historic role in regulating the financial-related industries, it would have prevented much of the speculative excess. The Fed, with responsible leadership, perhaps would have even tightened credit when the bubble had so clearly presented itself.

* * *

Any thoughts on the whole Coke-Pepsi thing?

I go for Mountain Dew.

[gandalf]

Thanks, car.

Bizarre to say the GSE’s are somehow at fault for what happened more than say, private sector Goldman that securitized the paper and sold the bonds, or private sector AIG that backstopped them selling insurance to speculators, or private sector Countrywide that originated the ridiculous loans in the first place.

Oooooo! Big government. Watch out. (Boo!)

Ironically, it’s just the opposite. If federal/state government and agencies had retained their historic role in regulating the financial-related industries, it would have prevented much of the speculative excess. The Fed, with responsible leadership, perhaps would have even tightened credit when the bubble had so clearly presented itself.

* * *

Any thoughts on the whole Coke-Pepsi thing?

I go for Mountain Dew.

[gandalf]

Amazing how many people on this board still think the issue is big vs. small government. Reagan was president in what, like, 1980? Much of what gets said here is irrelevant. Coke vs. Pepsi. Talking point BS.

Most people have no problem with government involvement when it serves a useful function. They have zero problem with the private sector when it adds value. The main problem is neither one of them is doing their job these days.

[gandalf]

Amazing how many people on this board still think the issue is big vs. small government. Reagan was president in what, like, 1980? Much of what gets said here is irrelevant. Coke vs. Pepsi. Talking point BS.

Most people have no problem with government involvement when it serves a useful function. They have zero problem with the private sector when it adds value. The main problem is neither one of them is doing their job these days.

[gandalf]

Amazing how many people on this board still think the issue is big vs. small government. Reagan was president in what, like, 1980? Much of what gets said here is irrelevant. Coke vs. Pepsi. Talking point BS.

Most people have no problem with government involvement when it serves a useful function. They have zero problem with the private sector when it adds value. The main problem is neither one of them is doing their job these days.

[gandalf]

Amazing how many people on this board still think the issue is big vs. small government. Reagan was president in what, like, 1980? Much of what gets said here is irrelevant. Coke vs. Pepsi. Talking point BS.

Most people have no problem with government involvement when it serves a useful function. They have zero problem with the private sector when it adds value. The main problem is neither one of them is doing their job these days.

[gandalf]

Amazing how many people on this board still think the issue is big vs. small government. Reagan was president in what, like, 1980? Much of what gets said here is irrelevant. Coke vs. Pepsi. Talking point BS.

Most people have no problem with government involvement when it serves a useful function. They have zero problem with the private sector when it adds value. The main problem is neither one of them is doing their job these days.

[Author]

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