Wow, the Dow is going up and we tax payers are going down...what gives????

by restrangled 18 Replies latest jw friends

  • Brother Apostate
    Brother Apostate
    One of the conditions for the bailout should be to decapitate the top dog in each company. Ok, not really, just fire him.

    Amen. And put compensation limits on all executives of recipients of the bailout money until it is repaid in it's entirety.


  • Gill

    Sadly, SCUM always rises to the top.....and then it (they) stick together!

    This money should be raised by taking it out of the bank accounts, selling the houses, jewellry, cars etc of all the top bankers and dealers on the stock market.

    Everyone in the world has been ripped off and robbed by these people....but these 'people / thieves' are all friends with the other people at the top, Presidents, Prime Ministers, etc and so it is all just wishful thinking.

    What is fascinating is that everyone I know is watching and listening to the news and what our leaders are saying and they are ALL thinking and saying the same ....... what a load of Bumble Bee Poo! Everyone knows it is a rip off and more lies.....a bit like the Weapons of Mass Destruction lie!

    We're all waking up to the BS! Watch out people at the top!!

  • beksbks
    This money should be raised by taking it out of the bank accounts, selling the houses, jewellry, cars etc of all the top bankers and dealers on the stock market.

    This is exactly the answer I would like to see.

  • WTWizard

    I say let the damn stock market crash. Dow closes at zero. S&P close at zero. Nasdaq close at zero.

    Perhaps we should start using a different currency. For instance, anyone that breaks the law to make products that are actually going to help society but hurt those companies that want to control everyone. Such illegal but superior products would be competing with legal but crap products, and the big giants that are making these laws (think: Unelected officials that pass these regulations) would take a bath while sound but illegal companies that put out excellent products get huge quickly. Those that get laid off by the legal crap companies would get hired by the illegal but good ones.

    Then, those that are really in charge wouldn't have the means to enforce those laws. Instead, they would have to sit back helpless as their stock prices head toward zero. The only way back in would be for them to break their own laws and start creating what the markets want--real helpful products. If that means putting our money in a bank that is going to prudently invest it or take out insurance from companies that are honest, that is what we need to do (think: Southwest Airlines during the crisis of the 9/11 aftermath).

    If we do not support companies that force the government to make laws that prevent progress, they will no longer have the means to enforce them (unless they break their own laws). And that goes double for not supporting the Washtowel Slaveholdery--we know that "company" produces zero value.

  • BurnTheShips
    The Dow is up by over 200 points today.....and why is it as tax payers we have to fund 700 billion dollars to bail out....... who?
    I am one pissed off tax payer. How about you?

    For those of you that hate this bailout as much as I do, it seems that McCain is killing it and putting together an alternative.

    I am not sure what the details are yet, been offline for awhile but Bush and congressional Dems are howling. This is just a rumor right now so take it with a grain of salt.

    Personally, I think if we scrap the bailout, the markets are going to get roiled, but I think we need to take the pain now and get it over with rather than over the next twenty years and have it blow up in our faces even worse. It's going to be a bumpy ride.


  • BurnTheShips

    Here is the House GOP alternative plan. This sounds much better than an outright bailout:

    Here's the bullet points directly from the House GOP plan:

    * Rather than providing taxpayer funded purchases of frozen mortgage assets, we should adopt a mortgage insurance approach to solve the problem.

    * Currently the federal government insures approximately half of all mortgage backed securities. (MBS) We can insure the rest of current outstanding MBS; however, rather than taxpayers funding insurance, the holders of these assets should pay for it. Treasury Department can design a system to charge premiums to the holders of MBS to fully finance this insurance.

    * Have Private Capital Injection to the Financial Markets, Not Tax Dollars. Instead of injecting taxpayer capital into the market to produce liquidity, private capital can be drawn into the market by removing regulatory and tax barriers that are currently blocking private capital formation. Too much private capital is sitting on the sidelines during this crisis.

    * Temporary tax relief provisions can help companies free up capital to maintain operations, create jobs, and lend to one another. In addition, we should allow for a temporary suspension of dividend payments by financial institutions and other regulatory measures to address the problems surrounding private capital liquidity.

    *Immediate Transparency, Oversight, and Market Reform. Require participating firms to disclose to Treasury the value of their mortgage assets on their books, the value of any private bids within the last year for such assets, and their last audit report.

    * Wall Street Executives should not benefit from taxpayer funding. Call on the SEC to review the performance of the Credit Rating Agencies and their ability to accurately reflect the risks of these failed investment securities.

    *Create a blue ribbon panel with representatives of Treasury, SEC, and the Fed to make recommendations to Congress for reforms of the financial sector by January 1, 2009.

  • jaguarbass

    Flipper, I agree.

    There are hidden powers controlling things in this country ; that don't want us to know they are controlling things

  • sammielee24
    If you gave every family one million dollars, inflation would sky-rocket like you wouldn't believe. A loaf of bread = $10,000

    I was being sarcastic - mostly. At this point what does it matter what I think? The USA is in a recession now. I was watching with interest when Paulson and Bernanke were asked by one of the congressmen - 'am I going to wake up tomorrow and find out that my dollar is worth nothing'....and they couldn't and wouldn't answer that. They simply don't know. All they keep saying is 'this is better than the alternative'. They wouldn't confirm that interest rates weren't going up - they will.

    So recession, higher interest rates, inflation, higher unemployment, a worthless dollar if you give the government the loan. If you don't - you still get the same thing.


  • Robdar
    They simply don't know. All they keep saying is 'this is better than the alternative'. They wouldn't confirm that interest rates weren't going up - they will.

    Yep. That's just it: they don't know. And here the government is trying to give $700 billion and a blank check to the very ones who only know how to drive the economy to hell. .

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