Does Anyone feel like Bailing

[xoxoxoBruce]

Money coming in? Oh goody, lets think of something to spend it on... like we did with the surplus.


But if there's a good chance of it being paid off, why the hell do we have to buy it?

[glatt]

Apparently it's not good enough to be inviting to anyone else in the market.

All I know is the impact this is having on my 401k, and if I look at the hit that it has taken and calculate my share of what this bailout will cost, the bailout is cheaper. Assuming it works.

So I'm in grudgingly in favor of the bailout. The alternative is a possible repeat of the 1930s.

[xoxoxoBruce]

Originally Posted by glatt

Apparently it's not good enough to be inviting to anyone else in the market.

All I know is the impact this is having on my 401k, and if I look at the hit that it has taken and calculate my share of what this bailout will cost, the bailout is cheaper. Assuming it works.

So I'm in grudgingly in favor of the bailout. The alternative is a possible repeat of the 1930s.

Possible repeat?
Why should I have to pony up, to save your 401k, that I had no decision in planning and get no benefit from? Redistribution of wealth?

[glatt]

Originally Posted by xoxoxoBruce

Possible repeat?
Why should I have to pony up, to save your 401k, that I had no decision in planning and get no benefit from? Redistribution of wealth?

I can see it from your point of view. Your job is safe if we go into a depression because the government is probably your number one customer. The rest of the country faces some serious uncertainty.

My comments about my 401k were just from a purely selfish perspective looking at easily tangible figures. Potential loss of jobs is harder to calculate because nobody has a crystal ball.

Are you playing devil's advocate here, or do you really not understand that allowing our banks to crash will be bad for the economy?

[tw]

Originally Posted by glatt

... if I look at the hit that it has taken and calculate my share of what this bailout will cost, the bailout is cheaper. Assuming it works.

Start with the bottom line. America's net worth has been so distorted with excessively low interest rates, tax cuts (that are really nothing more than future tax increases because spending cuts were not also implemented), and welfare to the rich. Economic forces are now taking revenge. Net worth of America must drop maybe somewhere between 20% and 40% so that the dollar numbers are corrected. So who takes the most pain?

Whether the government does a bailout or bankruptcy threats result in same corrections; is irrelevant in the big picture. We all pay either way. Americans must now pay for this stupidity for the next ten plus years by enriching the Chinese, Japanese, Europeans, etc. Time to avoid this stuff was obvious four and more years ago when the rich increased their wealth by (I no longer know this number) 100 times more while the average man's income dropped 2%. This had only happened once previously - just before the great depression. I am only reposting an obvious fact from history.

This we do know. With every pound more pain applied to top management, only then will future managers learn from history. Washington Mutual executives will get no golden parachute (hopefully). But people such as O'Neil (of Merrill Lynch) must be hounded in the courts, the press, and on the street for being the alpha example of bad people.

We have the economy we deserve because we got the "deregulation" we wanted of those who historically are among the least responsible - the financial industry. Stock brokers, bean counters, etc making a strong economy is always the myth. Now everyone must be hurt big time. No way around it. Americans must now pay for the party hangover whether part of the party or not. Question is only about which Americans *should* suffer most. 85% of all problems are directly traceable to top management. That says where pain should be greatest.

Did you invest in the people who make America great (companies that innovate and actually produce something), or did you invest in those who made big profits by lying? America’s product oriented companies are not suffering losses as large. Why are stock broker companies and mortgage hawkers in so much trouble? They are not experts. They are only salesman who successfully lie about being smart. NINJA – these experts even issued mortgages without asking the obvious, “No Job No Income Apparent”. Those who blindly listened to finance thinkers are now suffering most – and rightly so. Learn why bean counter types (spread sheet experts) are the least responsible thinkers.

However, quietly being heard is American automakers got $25billion from the government. Bankruptcy that would have fixed auto industry problems by removing bean counters (the worst being GMs) is being averted – a bad thing.

[dar512]

My mortgage is now owned by J.P. Morgan Chase & Co.

http://online.wsj.com/article/SB1222...googlenews_wsj

I'm getting anxious.

[HungLikeJesus]

But there's a problem with the math.

$85 billion / 200 million = $425/person, not $425,000.

[xoxoxoBruce]

Picky, picky, picky... ya notice that, huh?

[Shawnee123]

The Great Miami River, though not that great, is pretty clear and clean where I live. Just a hop, step, and a jump!

[glatt]

Hey, I've heard of the University of Miami in Ohio, is that on the banks of the river?

[Shawnee123]

To be honest, I don't know if it's on the banks. Miami River does run down through Dayton and Cincinnati (and Miami U is in Cincy) but there are a lot of miami named things around here presumbly due to the Miami Indians who were very "big" in the Ohio area. The Miami have close relation to the Shawnee.

btw, Miami University in Ohio is a wonderful school.

[Trilby]

Originally Posted by Shawnee123

btw, Miami University in Ohio is a wonderful school.

My son says the girls there are "extremely Hawt"

[Bullitt]

Originally Posted by Brianna

My son says the girls there are "extremely Hawt"

Hawt/high maintenance stuck up hoes who demand to be treated like princesses 24/7. You are merely the red carpet upon which they walk, nothing more.



So says my brother who went there anyway.

[Shawnee123]

Hmmm, it does have a high population of well-to-do people, from all I've heard...so that's where the princess thing comes in I guess. It does have a good rep academically though, for sure. My friend who I worked with every summer at the farm market went there as I was going to my school, and she was pretty down to earth, and talked about the air of snobbery she ran into from time to time. But she loved it!

[TheMercenary]

Given this, why hasn't anyone created a thread, "Does anyone feel like Balling?"