The Bailout

[kamilyun]

The only fair thing I can see happening out of all this would be for the US People to be issued stock in each company that gets any of this money.  Only when that money that is given back to the people (+ reasonable interest and increase of value) should the stock holders get a flipping dime.

You know...that's probably the most sense I've seen in this discussion.  If we're going to have to pay for it (depending on our tax bracket), then we should be made part owners. 

[Thruster]

Great idea. Just ask the existing stockholders how well that worked for them.

[Bodhi]

Great idea. Just ask the existing stockholders how well that worked for them.

Up until the last year and a half it has worked fairly well.

[Shamus]

Great idea. Just ask the existing stockholders how well that worked for them.

No no no, you don't understand.  We need to employ the Eddie Lampert model as used at Sears and Kmart.

You come in and blow out the current shareholders equity and reissue stock to the new owner, it worked very well for Eddie.

shamus

[Hangtime]

.308 just went up $1.21 per round.

... the new economic indicator.

[Bodhi]

No no no, you don't understand.  We need to employ the Eddie Lampert model as used at Sears and Kmart.

You come in and blow out the current shareholders equity and reissue stock to the new owner, it worked very well for Eddie.

shamus

Well, technically we are the new owners...

[Bodhi]

.308 just went up $1.21 per round.

... the new economic indicator.

Get into reloading.  It is by far the cheaper alternative.

[Shamus]

Well, technically we are the new owners...

Well in order to be real "Lamperts" we have to broom the liabilities as well.

shamus

[Thruster]

I'm curious to see what the numbers really are. And of course where they're coming from. The document I read seems to leave the door open for associated costs far higher than the sum that's mentioned. And I don't see anywhere hard data that suggests actual foreclosures or delinquencies are going to collapse the economy. It'll hurt, some more than others but the occasional redistribution of equity can be healthy.

I can't believe, ok maybe I can, but the point is I think what the proposal suggests is that the Gov't. is going to buy these outfits receivables unconditionally. I see no mention of discounts or qualifiers. It almost looks as if Washington is looking to become the world's largest mortgage servicer which could  be a good thing if executed properly. MAJOR if.

Looks more like the administration's looking for one more blank check before the turnover. From what I see this fund will evaporate long before $700b worth of real relief is realized.

The only sane answer is to let the private sector absorb the fallout. Let the government do the job it's already mandated to do.

[myelo]

DEAR SIR TAXPAYER,

WE ARE TOP OFFICIAL OF FEDERAL GOVERNMENT OF MY COUNTRY WHO ARE INTERESTED IN IMPORTATION OF GOODS WHICH ARE PRESENTLY TRAPPED IN WALL STREET. IN ORDER TO COMMENCE THIS BUSINESS WE SOLICIT YOUR ASSISTANCE IN ORDER TO TRANSFER LARGE FUNDS OF $800 BILLION INTO YOUR ACCOUNT IN AN URGENT MANNER.

I MUST FIRST SOLICIT YOUR STRICTEST CONFIDENCE. THIS IS BY VIRTUE OF ITS NATURE AS BEING UTTERLY CONFIDENTIAL SO WE ARE UNABLE TO DISTRIBUTE TO YOU ANY DETAILS. SUFFICE TO SAY WE ARE UTTERLY TRUSTWORTHY AND THIS TRANSACTION IS 100% SAFE.

IN VIEW OF THIS, IF YOU ARE TOUCHED TO WORK WITH US IN SINCERITY BY TRANSFERRING THE APPRORPIATE FUNDS AS SOON AS POSSIBLE WE SHALL EMBRACE YOU AS OUR NEWFOUND FRIEND AND COMPENSATE YOU ACCORIDINGLY.

AS YOU INDICATE INTEREST, PLEASE BE FAST TO CONTACT ME (LEAVENOBANKERBEHIND@TRASURERY.GOV) TO ENABLE ME TO GIVE YOU FURTHER INFORMATION RELATIVE TO THE TRANSFER OF FUNDS.

DO NOT HESITATE TO INCLUDE YOUR TELEPHONE NUMBER, SOCIAL SECURITY NUMBER, BANKING AND CREDIT CARD INFORMATION AS THIS WILL FACILITATE COMMUNICATION AND COMPLETION OF THIS PROJECT.

YOURS SINCERELY TRULY
SIR HENRY PAULSON

[john9001]

don't worry , the democrats will not let this happen , they want the economy to get worse so obama can get elected and save the country.

[Urchin]

Myelo -

I laughed at work...

[bongaroo]

Chris Dodd's proposed bailout includes congressional oversight, a 1 year time limit, and shares of the buisnesses bailed out.  Oh, he's a democrat.  Sorry John, try again somewhere else.

[rpm]

what is your plan "B"?
it's my understanding that the issue is that if we procrastinate, it'll blow up in our face and that 700 billion figure multiplies, I'm sure it is already a trillion just being sold as "only" 700 billion.

The whole thing is retarded. We are rewarding poor performance without any penalties for getting us in this boat. I think whatever action we do now is but a stop gap measure putting off a collapse for the time being but not eliminating it.

How much pork, that is not in the total, do you think they'll stick on this one knowing it has to pass and pass soon?

How about removing this line from the bill:

Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency.

Are you seriously saying you want to give a blank check to an unelected official with absolutely no accountability? Eagler, I thought you were a smarter man than that.

At least John McCain has put more thought into this than you and most of the others here have. You MUST have accountability.

[Hangtime]

How about removing this line from the bill:
Are you seriously saying you want to give a blank check to an unelected official with absolutely no accountability? Eagler, I thought you were a smarter man than that.

At least John McCain has put more thought into this than you and most of the others here have. You MUST have accountability.

An unelected official who's last day job was CEO of americas largest investment banking house.

Screw worrying about rocking the boat.. time to sink the damn thing. (thanks Toad)