Aces High Bulletin Board
General Forums => The O' Club => Topic started by: mg1942 on October 01, 2008, 03:01:21 PM
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Will USA Senate pass the rescue bill tonight?
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I hope not.
And, could care less what the world thinks.
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i hope not... screw the world, we need to think about ourselves and pass legislation that will free the market to fix the problem themselves, with their own money.
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Isn't a bill supposed to uhm... pass through the House before it gets to the Senate?
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usually, that's the path. knowing how much respect the two bodies have for each other gives me hope this will wind up in a hopeless morass.
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I hope not.
And, could care less what the world thinks.
i hope not... screw the world, we need to think about ourselves and pass legislation that will free the market to fix the problem themselves, with their own money.
Do you want the world to lose confidence on USA economy?
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I hope it does not pass. And most of the people at cnn.com agree.
Should the Senate pass the $700 billion bailout package for the U.S. financial system?
Yes 27% 67971
No 50% 125596
Don't have enough info to decide 22% 55866
Total Votes: 249433
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Isn't a bill supposed to uhm... pass through the House before it gets to the Senate?
any bills have to originate in the house then go to the senate for approval but to speed up the process the senate and house both make their versions of the same bills and then get together to work out the final bill.
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Do you want the world to lose confidence on USA economy?
what part of 'I could care less what the world thinks' did you not grasp?
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All I know is that the longer this goes on, the lower oil drops, keep up the good work.
$3.25 9/10 at the gulf down the street today, w00t!
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Do you want the world to lose confidence on USA economy?
I prefer not to permanently cripple the already crippled U.S. economy to impress anyone or to gain their respect.
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I don't really want the bailout... but i do want more regulation.
I am nervous about how the market will react without the bailout though...
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what part of 'I could care less what the world thinks' did you not grasp?
Just curious.
How much exactly less could you care?
I mean if you could care less then there is still a certain amount of caring left in you.
So exactly how much less could you care before you couldnt care any less?
;)
Screw the bailout as it now is. from what I saw. there are too many Christmas tree items attached.
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I don't really want the bailout... but i do want more regulation.
I am nervous about how the market will react without the bailout though...
It will be cruel if it doesn't pass. It has to pass for the good of the nation and the world.
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It ain't the market you need to be worrying about or watching.
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No sense in socializing our banking and market system to please the world... we should only worry about OUR economy... printing $700B will do nothing but saddle us with debt and destroy currency value.
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national crisis? Buffalo balls. its a wallstreet crisis. The exact cause and identities of those at fault should be made public before any of the people's money is handed over to the same b-tards who allowed it to happen.
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Another 1st rate economy experienced the same situation as USA.
They had no other choice but to use tax payer's money.
First, a reminder of how bad things looked in 2002. At that point it seemed almost inevitable that one of the huge Japanese banks would find itself insolvent. It became clear that they had a severe problem with bad debt — money that they had lent to companies and individuals who could not repay it.
During a property market boom, the banks were happy to lend to builders and developers, especially those who were putting money into offices and shops in big cities like Tokyo. Then property prices tumbled and the developers could not repay their loans. Banks were losing money in loans to people who could not repay them and whose collateral, the value of their property, was less than the value of those loans.
The Japanese authorities agonised over what to do. They slashed interest rates to zero. They pumped money into the financial system, just as America has. But in the end, they took the expensive and painful decision to use tax payers' money to help the banks write off the bad loans.
At least US$100bn dollars went on the programme. The Bank of Japan lent money to institutions at special rates and also bought some of their shares. The money came with an important proviso; the Bank of Japan wanted full disclosure of how serious the problem was and a promise from the banks not to let it happen again.
http://news.bbc.co.uk/2/hi/business/7623779.stm
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It will be cruel if it doesn't pass. It has to pass for the good of the nation and the world.
No it won't. No, it doesn't. I'm not worried about saving the world anymore, I'm worried about a permanent solution to save our economy. That in itself will do enough to help the rest of the world.
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We can do this without it... cut capital gains and corporate taxes, end market-to-market accounting and that will free up tons of cash within weeks.
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It will be cruel if it doesn't pass. It has to pass for the good of the nation and the world.
I've been thinking about it.
Eventually the banks that havent failed will have to start lending again. thats how they make money
If not they themselves put themselves out of business.
It'll be suicide, suicide I tell ya
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We can do this without it... cut capital gains and corporate taxes, end market-to-market accounting and that will free up tons of cash within weeks.
I though your cash was in China ?
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I am tired of the US doing things for the world whenever something big happens. For once, if the world is that scared, why don't they donate to the Wall Street Catastrophe Fund. Bail us out for once instead of us bailing them out.
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Do you want the world to lose confidence on USA economy?
Hell, they could give a crap about us, they're worried about their own skins! If we go under, they go under. Global economy! Nuff said!
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Do you want foreigners to start flocking to US to buy ailing banks? corporations? properties?
PRC has trillion dollar surplus but no motivation for the moment...
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All I know is that the longer this goes on, the lower oil drops, keep up the good work.
$3.25 9/10 at the gulf down the street today, w00t!
That Billionaire that has his own show on TV (Donald Trump) said the same thing basically. Don't pass it, let's let things re-adjust to their proper worth, like (quote) "Oil should be $20 a barrell, not $140" :rock
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Do you want foreigners to start flocking to US to buy ailing banks? corporations?
PRC has trillion dollar surplus but no motivation for the moment...
Why would they buy US banks when they're transferring their investments into Euro's, not dollars?
And even if they did, if you're a foreigner and you want to buy a US bank? Go for it. I doubt you'll get many U.S. customers though!
Japan went through this in the 1990's. They started off with 91 major banks. When it was all done and said, there were 9 banks left.
We'll survive Chicken MgLittle, don't fret now. ;)
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Don't pass it, let's let things re-adjust to their proper worth,
Hope the people in Washington do just that. Of course though, they won't.
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Chicken MgLittle
Coined!
:rofl
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I hope it's YEA. I'd like the dollar to become stronger. Last week I exchanged $1500 dollars for my upcoming trip when € was 1.47 against it and now it's down to 1.40. I'm going to Venezuela so I need it as a medium for blackmarket exchange.
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Whatever is in that bill, they should add some regulation, and force them to focus on long term growth/future so this will never happen again.
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imop the bail out should include actions not 700bn on top of 700bn alredy wasted :
-bring 140000 troops home, save billions, and use some of them to kick out 12 milion undocumented workers and quick create jobs: 14% of them are working in construction for 5$/hour building cheap houses, (i read yesterday that 50% of California construction workers are undocumented):, 50-70% of the price of a house is labour.
How to keep the price of houses high, when are build with cheap lumber imported from Canada and 5$/hour labour from Mexico?
-close NAFTA
-taxes on imports
As long as in Wal Mart the only items made in USA are some vegetables grown by illegal workers in California and some cheese made in Wisconsin, the economy won't recover,
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The British and German governments have worked this week to bail out 5 European banks that were holding stinky loans.
Ain't a world without borders grand? Ain't derivatives grand?
This isn't a wall street bailout. This is the US pillar of the world banking system.
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We can do this without it... cut capital gains and corporate taxes, end market-to-market accounting and that will free up tons of cash within weeks.
You mean mark-to-market, I believe.
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You mean mark-to-market, I believe.
i did, just didnt look after i typed...
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This,
I am tired of the US doing things for the world whenever something big happens. For once, if the world is that scared, why don't they donate to the Wall Street Catastrophe Fund. Bail us out for once instead of us bailing them out.
and this,
Hell, they could give a crap about us, they're worried about their own skins! If we go under, they go under. Global economy! Nuff said!
Should be quoted for truth. The rest of the world wants to watch and wait in the same manner as a vulture circling a dying cow. And when you think of the Irony of the Marshall plan after WWII, or the Berlin Airlift, or any of the god-only-knows how much Humanitarian aid we've shipped around this globe over the decades, you think they might feel like trying to reciprocate a little. But as you can tell, the silence is deafening, and is speaking volumes...
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imop the bail out should include actions not 700bn on top of 700bn alredy wasted :
-bring 140000 troops home, save billions, and use some of them to kick out 12 milion undocumented workers and quick create jobs: 14% of them are working in construction for 5$/hour building cheap houses, (i read yesterday that 50% of California construction workers are undocumented):, 50-70% of the price of a house is labour.
How to keep the price of houses high, when are build with cheap lumber imported from Canada and 5$/hour labour from Mexico?
-close NAFTA
-taxes on imports
As long as in Wal Mart the only items made in USA are some vegetables grown by illegal workers in California and some cheese made in Wisconsin, the economy won't recover,
Ghi, I'm afraid that all of those issues you quoted, while being IMO not only the most important that should be considered in this election (Due to helping cause our current financial woes) They will be sidestepped, just like they have since Reagan's time. And this Wall Street crisis will be the smokescreen that let's them do it.