The end of capitalism?

bumper · Post by **bumper** » September 20, 2008 9:31 am

Surprised no mention of the recent government intervention outlawing short selling and treasury's purchasing the bad debt of many a financial institution.
Gee, if you handled your finances the way Washington Mutual or Lehman Brother or Bear Stearns had ya think the feds would have bailed you out????? ya feeling smaller or insignificant yet???

blackjack · Post by **blackjack** » September 20, 2008 9:57 am

Nope. Because if I were to go belly up it wouldn't affect MILLIONS of people.

I know my place in the food chain. I also take care of my finances.

But then again, the government did bailout many of these people who did get these weak mortgages, so I think, at least in part, your point is moot.

bumper · Post by **bumper** » September 20, 2008 10:50 am

The mortgage bailout, which only applies to a very small percentage of homeowners, pales in comparison and implication to the action taken by the fed and treasury.

Keep in mind between 2000-2002 millions of individual investors lost billions and the government did not interfere but let the system reset itself. It is the ugly but necessary side of a free market.

Why should this cleaning process be any different then the one of 5 years ago? We survived the great depression, we survived the 70's bear market, we survived the 87 crash and we survived the savings and loan failure of the early nineties. Are you suggesting we cannot survive this?
Because of the recent intervention the market is experiencing the mother of all short squeezes. It gives the appearance of buying but is not new money entering the market rather it is current money closing out positions on the buy side. Wait till the opposite occurs, a long squeeze.

Because I have handled my finances well I have been planning and waiting for a time where I can take advantage of the housing bubble pop and add to my wealth at the expense of those who made poor financial decisions or acted financially irresponsible. This is the time where money and wealth changes hands as it should be.

phjrsaunt · Post by **phjrsaunt** » September 20, 2008 10:53 am

I'm just a squirrel tyrin' to get a nut.

V-town Fin Truck · Post by **V-town Fin Truck** » September 20, 2008 10:59 am

My biggest thought about all this money is this: If the government has all this money to just toss out- THEN THEY ARE TAXING US ALL TOO MUCH!!

SchoolGirlHeart · Post by **SchoolGirlHeart** » September 20, 2008 11:08 am

When they've taken every penny of the millions socked away by the head honchos of the companies being bailed out, sold their mansions and their toys and applied all that money to the bailout, THEN they can start talking about using my tax money. Until then, I'M P*SSED.........

bumper · Post by **bumper** » September 20, 2008 11:11 am

phjrsaunt wrote:I'm just a squirrel tyrin' to get a nut.

aint we all

Touch O Parrotdise · September 20, 2008 11:14 am

i heard it's $3,700 per person in the USA... that's $14,800 for me...

bumper · Post by **bumper** » September 20, 2008 11:16 am

SchoolGirlHeart wrote:When they've taken every penny of the millions socked away by the head honchos of the companies being bailed out, sold their mansions and their toys and applied all that money to the bailout, THEN they can start talking about using my tax money. Until then, I'M P*SSED.........

implied in all this is that. The little guy takes it again while the greed mongers leading this fiasco hand in hand skip down the yellow brick road.

SchoolGirlHeart · Post by **SchoolGirlHeart** » September 20, 2008 11:17 am

Touch O Parrotdise wrote:i heard it's $3,700 per person in the USA... that's $14,800 for me...

now I'm even MORE p*ssed off.....

Touch O Parrotdise · September 20, 2008 11:18 am

next time i need a loan.... the first $15,000 should be free... i won't even charge them interest..

SchoolGirlHeart · Post by **SchoolGirlHeart** » September 20, 2008 11:19 am

bumper wrote:
SchoolGirlHeart wrote:When they've taken every penny of the millions socked away by the head honchos of the companies being bailed out, sold their mansions and their toys and applied all that money to the bailout, THEN they can start talking about using my tax money. Until then, I'M P*SSED.........
implied in all this is that. The little guy takes it again while the greed mongers leading this fiasco hand in hand skip down the yellow brick road.

Yup. And their rich friends in Congress aren't about to hold them accountable....

We need a wholesale, grassroots replacement of our government, with honest, hardworking people in office. No PAC money, no lobbyists; outlaw them..... (Oh, and for all you Homeland Security people watching, I mean a LEGAL REPLACEMENT, VIA THE BALLOT BOX, not a coup...

)

LIPH · Post by **LIPH** » September 20, 2008 11:27 am

Interesting article in yesterday's Wall Street Journal. They had a list of the politicians who have gotten the most campaign contributions from the financial industry. Guess who's number one on the list? Barack Obama. I wonder how much of that was "change".

(John McCain was third)

Touch O Parrotdise · September 20, 2008 11:31 am

LIPH wrote:Interesting article in yesterday's Wall Street Journal. They had a list of the politicians who have gotten the most campaign contributions from the financial industry. Guess who's number one on the list? Barack Obama. I wonder how much of that was "change". (John McCain was third)

it wasn't loose change either

aeroparrot · Post by **aeroparrot** » September 20, 2008 11:34 am

I'm not surprised either. It's called "Election Year Politics." No politician wants the electorate to think they're out of touch. An interesting point of the bailout of Freddie Mac and Fannie Mae, when the original bail out was proposed, neither of them wanted it.

bumper · Post by **bumper** » September 20, 2008 11:44 am

Oh this gets worse before it gets better. The tidal wave may have been pushed offshore by the treasury and fed but it is out there and waiting and now its really p*ssed off.

Martonian · Post by **Martonian** » September 20, 2008 12:20 pm

If John McCain had his way he'd deregulate the healthcare industry like the banking industry has been the past decade.

McCain writes in the latest issue of Contingencies...

"Opening up the health insurance market to more vigorous nationwide competition, as we have done over the last decade in banking, would provide more choices of innovative products less burdened by the worst excesses of state-based regulation."

Yea, deregulation worked great with the banking industry John.

bumper · Post by **bumper** » September 20, 2008 12:30 pm

Martonian wrote:If John McCain had his way he'd deregulate the healthcare industry like the banking industry has been the past decade.

McCain writes in the latest issue of Contingencies...

"Opening up the health insurance market to more vigorous nationwide competition, as we have done over the last decade in banking, would provide more choices of innovative products less burdened by the worst excesses of state-based regulation."

Yea, deregulation worked great with the banking industry John.

Wrist slap for attempted thread hijack. Start yer own thread.

Elrod · Post by **Elrod** » September 20, 2008 12:31 pm

bumper wrote:
Martonian wrote:If John McCain had his way he'd deregulate the healthcare industry like the banking industry has been the past decade.

McCain writes in the latest issue of Contingencies...

"Opening up the health insurance market to more vigorous nationwide competition, as we have done over the last decade in banking, would provide more choices of innovative products less burdened by the worst excesses of state-based regulation."

Yea, deregulation worked great with the banking industry John.
Wrist slap for attempted thread hijack. Start yer own thread.

I'll second that.

Good to see ya again Bumper!

Touch O Parrotdise · September 20, 2008 12:34 pm

I can see Gordon Gekko(sp) saying with a grin... let the peons pay for it..