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Author Topic:   GOP says no bailing out Lehman brothers
Mannu
Knowflake

Posts: 45
From: always here and no where
Registered: Apr 2009

posted September 15, 2008 06:02 PM     Click Here to See the Profile for Mannu     Edit/Delete Message   Reply w/Quote
Yeah

Corporations are individuals. And individuals do go bankrupt. blah blah blah...

GOP has shown, thats how free market should operate. I heard Palin talking about it.

She said with McCain they will regulate wall street. Not sure what she meant. At face value I don't like that idea , need more details though.

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Unmoved
Knowflake

Posts: 2196
From:
Registered: May 2009

posted September 15, 2008 06:44 PM     Click Here to See the Profile for Unmoved     Edit/Delete Message   Reply w/Quote
hi Mannu

This is the reason I came to GU, to see if someone is discussing this economic meltdown. Wow! Could it get worse than this? I know this is not business like, what I am about to say, but is the "Man" corporations/capitalism collapsing or is it just a little kink on the road? Maybe it's a sign of what's coming.

I came to read up and not to comment since I am clueless. but I had to speak so that you can see my level of ignorance - to help explain when I ask annoying questions.

My gosh... AIG is in danger... I mean... this is AIG we are talking about. The Global impact it would have on people's 'individual' finances is terrible. But apparently AIG is making a plan of some sort.

Also, this period could cause corporation to go and monopolize markets by buying out crippled companies if it gets worse than this, no?

Maybe I'm panicking for nothing, but I'm too paranoid.

and GOP as in Grand Old Party, the Republicans? I am not familiar with the term... but no worries... I'll go google it. That's why I don't visit GU. It's too higher grade.

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jwhop
Knowflake

Posts: 2787
From: Madeira Beach, FL USA
Registered: Apr 2009

posted September 15, 2008 07:21 PM     Click Here to See the Profile for jwhop     Edit/Delete Message   Reply w/Quote
Free market capitalism means there may be loss instead of gain...when sound investment or lending practices are abandoned.

Those who step over lines should not be bailed out by the government. They should take their lumps...like everyone else.

So, I'm glad there is no GOP call for bailing out Lehman Bros but I'm not thrilled by talk of more markets regulations. The government should stay out of the market place but prosecute those who break the law....as the Bush administration prosecuted hundreds of fat cats that Clinton let operate with impunity right under his nose.

Unmoved, part of the problem with the Fannie Mae and Freddie Mac fiasco was socialist interference in the housing lending market. Clinton signed into law a bill in 1995 which mandated increased lending and loosening of lending standards for housing to those who were basically unable to qualify for a conventional loan. We all know how that ended.

Additionally, Fannie and Freddie were quasi governmental corporations but with powers of normal corporations. With investor money, they made campaign contributions...to demoscats and made contributions to such sleazy organizations as ACORN who are trying to evade our election laws by registering those ineligible to vote. ACORN is an O'Bomber associated organization.

Now, the 2 idiots at the top of Fannie and Freddie, those who screwed up royally by buying loan packages from sub prime lenders without checking to see if the mortgages were current or anything else...well those two got a golden parachute for screwing up and leaving a mess for taxpayers to clean up.

Don't worry about capitalism. In spite of all the zigs and zags in the economy, free markets stabilize, consolidate and take off again.

Eventually, the feds will unload Freddie Mac and Fannie Mae to investors...after the mess is straightened out.


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Mannu
Knowflake

Posts: 45
From: always here and no where
Registered: Apr 2009

posted September 15, 2008 07:48 PM     Click Here to See the Profile for Mannu     Edit/Delete Message   Reply w/Quote
Hi Unmoved,


Yeah GOP is the republican party.

Short on time but will say this succintly:

You must definitely be paranoid if you have invested in those fallout companies.
Thats why they say one rule of investing is "diversify, diversify..." . do not put all eggs in to one basket. The risk has to be spread.

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NosiS
Moderator

Posts: 145
From:
Registered: Apr 2009

posted September 16, 2008 04:10 PM     Click Here to See the Profile for NosiS     Edit/Delete Message   Reply w/Quote
Thanks for that little bit of info about Clinton's bill in '95, jwhop.
_________________________________________

http://news.yahoo.com/s/ap/20080916/ap_on_el_pr/candidates_economy

The differences between Obama's and McCain's policies and perspectives on the economy is precisely where Obama loses my vote. McCain calls for a commission to find the source of this economic turbulence and Obama, as usual, rebuttles with a vague "plan" of his own: "leadership". This guy's ideas are so indistinct that they might as well be the fog in a swamp!

-What's that over there?
-Oh, that? That's change?
-How do we get through it?
-Leadership, duh!

Seriously, though, I can't believe McCain is receiving slack for saying that "the fundamentals of our economy are still strong"!

So is it completely wrong for someone to, aside from trying to reassure any general doubts and concerns, speak an obvious truth?
Newsflash: The economy is still going. This is not a depression. People need to calm down.

Of course, it's precisely the fiercely Democratic that would love for the economy to take a beating (despite it being against their own best interests) just so they can go around blaming it on Bush and the Iraq war. Well, guess what? I don't buy it!

Why is the media not covering the true source of this recent economic instability: the failing mortgages. If you ask me, the heads of those companies that grew from their mortgage lending should have had the foresight to see this happen but, unfortunately, you're not really expected to do your homework. I've seen the general practices that were exercised to try to get loans for clients. Lenders were expected to do anything they could to try to get the loan out to them. No questions. When they were selling, it didn't matter to them whether they would be able to pay the loan down the line or not. Lo and behold, it did matter because the companies would balloon with the provisions coming from these loans which would obviously begin to fail!

On the one hand, lenders should not have pushed their employees to sell by any means. On the other, people really need to take responsibility for what they can and cannot involve themselves in.

Aside: I'm glad the fed decided not to change interest rates today. The last thing needed is to transform people's concerns into hysteria.

Done ranting for now...

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NosiS
Moderator

Posts: 145
From:
Registered: Apr 2009

posted September 16, 2008 09:35 PM     Click Here to See the Profile for NosiS     Edit/Delete Message   Reply w/Quote
http://www.youtube.com/watch?v=QecN1eAjsQE

My apologies. It seems Obama did clarify his ideas on the economy.

ROFL

This guy is clueless. You can even tell he's reading from an outline that he's memorized.
The poor chap doesn't really know much about how the economy actually works. Poor guy.

"Overhaul our regulatory system"? Does he even know what that means? Isn't that more of a Republican stance? The Dems are clearly on the defensive here.

Isn't it great how Couric barely asks him any questions? Just let him say "overhaul our regulatory system" and everyone will know what he means. Riiiiiight. And the whole mortgage thing. Yeah. That'll work wooonders.

Fog in a swamp...

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Mannu
Knowflake

Posts: 45
From: always here and no where
Registered: Apr 2009

posted September 17, 2008 09:46 AM     Click Here to See the Profile for Mannu     Edit/Delete Message   Reply w/Quote
>>Isn't that more of a Republican stance?

ROTFL

He seems to be following the same Bush doctrine on economics. So why change

Lets bring McCain and Palin in. The original mavericks.

Obama is a thief and a plagiarist. All marxists are thief. They steal rich peoples money.

Obama is a good for nothing bum who is counting on his people skills to get rich.
I heard he never got a job in wall street. In fact he never wore a tie at his workplace and never had a secretary. Psychologically he must be jealous of those wall street execs.

Only a person who has the experience of being rich can help others in to being rich.
America does not deserve him. A thief.


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Mannu
Knowflake

Posts: 45
From: always here and no where
Registered: Apr 2009

posted September 17, 2008 09:48 AM     Click Here to See the Profile for Mannu     Edit/Delete Message   Reply w/Quote
BTW, I hope the biggest fallout in this financial disaster is over now with AIG.

If the Fed and treasury didn't provide loan to AIG, there would have been a global market collapse.


I also hear that we Americans now own the biggest insurance company in the world because the Fed loaned our tax money. Not sure what the ramnifications are going to be.

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