the HOUSE Rejects Bail Out Plan.... Stocks PLUGNE..... WOWWWW

[Wargasms]

i review, track and help draft legislation for a living, im looking at a hard bound legal text that i co-wrote for the state government right now that just came back from the press.


kabz you need to get the fuck out because you are the most clueless nigga in the entire thread.

[Don Kabz]

lmaoooooooooo u mad?

wargasms mad

[Wargasms]

u mad doesnt work on a nigga like me.

sorry..

you look like a fool homie lol

its annoying having you clutter up a real discussion with dumb ass remarks.

[Don Kabz]

hey nimrod...how about you give me that maxima you just bought...then let me sell it back to you at double the price. we can do our own little bailout right now.

[Don Kabz]

The discussions over, it finished at like page 9.

[SeeSon]

Originally Posted by Wargasms

i review, track and help draft legislation for a living, im looking at a hard bound legal text that i co-wrote for the state government right now that just came back from the press.


kabz you need to get the fuck out because you are the most clueless nigga in the entire thread.

Since we are throwing around credentials. I work in the financial services industry, degree in economics. I can tell you that this bail out bill has the potential to be even worse than what will happen without it. With this bail out bill at a maximum of two years, the dollar will plummet, if it doesn't plummet sooner. Then we will end up with a situation where we not only have 25% unemployment, but we also have hyperinflation. This will make the recession/depression even deeper. The global marketplace will have zero confidence in the U.S. making it impossible for the govt to borrow. It would basically be what happened in Argentina except multiply it by ten.

Also, I really take offense to you arrogantly assuming that Americans don't understand what's going on. There are a large group that understands and aren't supporting it regardless of the consequences. If these scam artists really wanted to solve problems. They would do these steps before asking for 700 billion. 1) Suspend the mark to market rule. 2) Bring back the uptick rule. 3) Increase FDIC protection, but none of that is even on the table, which basically spells out that this is a power grab by the bankers, plain and simple.

[Wargasms]

kabz, do you honestly believe that you even understand ANYTHING that has been said in this thread, by anyone?

even the stupidest niggas in this thread have gone over your dumb ass head.

[Don Kabz]

lmaoooooooooooooooooooooooooooooooo oo

[SeeSon]

Originally Posted by menaz

I've actually read the bailout plan. It's 110 pages. And I was against the bailout from the jump start. And I'm indeed glad it failed.

You people for the bailout aren't thinking critically at all.

Exhibit A.) "The Dow closed the day down 777.68 points, or 6.89 percent, beating its previous record for an intraday drop of 721.56 points, set during the first trading day after the Sept. 11, 2001, terror attacks. Still, in percentage terms, the decline remained well below the more than 20 percent drops seen on Black Monday of October 1987 and the Depression. This is panic, and fear is running amok, one trader told CNBC. “We are in a classic financial meltdown, and it’s panic-based. We’re seeing panic selling.”


The Dow "plunged" 400 points that's not a catastrophic drop by any means. The total drop for the day may end up in the 600 point-plus range, certainly a very bad day on the market, but only roughly a 5% drop.

Yet here we are with no bailout plan passed. Where's the economical callapse? Where the great depression? Remember Y2K? Point being we still have more time to critically think about how to make this a WIN-WIN situation. And a government socialist bailout isn't vaild. It just sends a message to washington that everytime failing financial institutions loom tax payers are going to flip the bill and bail everyone out. Whatever happen to individual responablity? Oh That's right, Democrats killed it.

To me pouring 700 billion of our money into failing financial institutions seems akin to throwing spaghetti against the wall. Keep throwing until something sticks. They tell us that credit will dry up if we don't inject cash. No credit would be disastrous for the economy, but they have not explained well enough why the banks have failed so suddenly and drastically that emergency room surgery is required. Knowing why would help us poor taxpayers feel better about how the problem should be solved. Ever wonder how many other bank failures are out there waiting behind the curtain to take their bows? Are we going to throw even more money at them too?
When does passing the buck end alfie?!

What the economically illiterate don't understand is this revised-bailout plan was very nonsensical because it didn't address any of the problems that led to this financial mess in the first place. Therefore, it was political fodder and not meant to correct the actual government meddeling, greedy incompetent wall street ceo's and borrowers problem which actually caused this crisis. If their bailout plan doesn't define the crisis how can it fix it? It can't. They're simply denying the inevitable for their own cynical gain. (here's a clue, the definition is not 8 years of Bush) The facts are much different.

Therefore, now is time to consider a alternative approache to the credit market problems, including changes to an accounting rule adopted in reaction to Enron, the mark-to-market rule. The big lie here is laissez faire caused this. Not true. government meddeling caused this, among et al....

Exhibit B.)Easy to Understand Video Explanation of What and Who Caused the Financial Meltdown (video embed) | DARK SKIES BLOG

Exhibit C.) Hot Air Blog Archive The Ed Morrissey Show: Kevin McCullough, debates, bailouts, and Truth Squads
Warning: roughly 60 mins running time, but they do break it all down.

Exhibit D.) Hot Air Blog Archive Video: Democrats insist “nothing wrong” at Fannie Mae, Freddie Mac in 2004

You wanna fix this problem and stay out of the democrat's big government wel-fare reach which got us into this mess in the first place. Well then I ask of you should we consider a solution that requires no money, or at least a lot less? Here's one. Have the SEC suspend the accounting rule called mark-to-market. By a relatively simple accounting adjustment, troubled banks assets and capital could be increased and credit kept available. Suspending the mark-to-market rule would allow banks and accountants to revalue their assets based on more sound criteria than the euphoria or panic that pervades the floor of the New York Stock Exchange minute-by-minute. Sub-prime mortgages will likely have much higher values if considered in a longer-term perspective, such as hold-to-maturity. I believe that the vast majority of mortgages will perform in the long term. Presto. Up goes assets; up goes capital; banks can make loans again. Cash infusions may still be required, but this will buy us enough time to seriously examine what steps need to be taken to get runaways like Fannie and Freddie under control, how to renegotiate rates with distressed borrowers who really can handle a mortgage, and how to keep this from happening again. I think this can be done. If we can approve 700 billion, surely we can do this and keep our money.

I can't believe you are that knowledgeable and can't see past partisan bullshit. Both parties were responsible. From the republican congress in the 90s repealing the glass stegal act, to the dems pushing for more home ownership, to Greenspan pushing rates too low for too long. This has zero to do with the democrats screwing up the country or the republicans screwing it up, this has everything to do with everybody in concert with each other fucking us over and taking away our liberties. This isn't even socialism it is fascism.

[Don Kabz]

Originally Posted by SeeSon

Since we are throwing around credentials. I work in the financial services industry, degree in economics. I can tell you that this bail out bill has the potential to be even worse than what will happen without it. With this bail out bill at a maximum of two years, the dollar will plummet, if it doesn't plummet sooner. Then we will end up with a situation where we not only have 25% unemployment, but we also have hyperinflation. This will make the recession/depression even deeper. The global marketplace will have zero confidence in the U.S. making it impossible for the govt to borrow. It would basically be what happened in Argentina except multiply it by ten.

Also, I really take offense to you arrogantly assuming that Americans don't understand what's going on. There are a large group that understands and aren't supporting it regardless of the consequences. If these scam artists really wanted to solve problems. They would do these steps before asking for 700 billion. 1) Suspend the mark to market rule. 2) Bring back the uptick rule. 3) Increase FDIC protection, but none of that is even on the table, which basically spells out that this is a power grab by the bankers, plain and simple.

but they dont see that. They think the sky is falling and we'll have armaggedon if we dont apporve this shitty bill.

[yayo 2]

skrybe >

[Wargasms]

Originally Posted by SeeSon

Since we are throwing around credentials. I work in the financial services industry, degree in economics. I can tell you that this bail out bill has the potential to be even worse than what will happen without it. With this bail out bill at a maximum of two years, the dollar will plummet, if it doesn't plummet sooner. Then we will end up with a situation where we not only have 25% unemployment, but we also have hyperinflation. This will make the recession/depression even deeper. The global marketplace will have zero confidence in the U.S. making it impossible for the govt to borrow. It would basically be what happened in Argentina except multiply it by ten.

Also, I really take offense to you arrogantly assuming that Americans don't understand what's going on. There are a large group that understands and aren't supporting it regardless of the consequences. If these scam artists really wanted to solve problems. They would do these steps before asking for 700 billion. 1) Suspend the mark to market rule. 2) Bring back the uptick rule. 3) Increase FDIC protection, but none of that is even on the table, which basically spells out that this is a power grab by the bankers, plain and simple.

Obama has proposed to Increase FDIC protection, but FDIC cant even realistically cover the protection they supposedly provide now, because of the government's own financial situation.

Americans DONT understand. Americans arent paying attention, or are not able to understand the implications. Most americans think this shit doesnt even effect them.


You are only looking at what happens if the plan fails. It also has the potential to WORK and to provide the economic stimulation we need to hold us up until new regulation and safeguards can be put in place to prevent future crumbles, and restructure and regulate the industries and institutions that caused the problems in the first place. This isnt an economic FIX, this is to buy us time and keep us from a full crash. This is an evasive action taken by the government. Thats why its only TEMPORARY in nature and has an expiration date.


For every financial expert against it, there are more saying it is necessary, especially as every day, something else crumbles. Im not throwing around credentials, im saying that I understand legislation and that all this conspiracy bullshit and taking little pieces out of context to make it support what you want to believe about the bailout isnt true. Niggas in here spreading that there is no checks or review on secretary of treasury's actions, when thats completely false.

You have a degree in economics and work in the industry. But you cannot predict how things will play out when the variables are unlike they have ever been before.

i have a Juris Doctorate, and i work with legislation on a daily basis. I can read a bill, and interpret it as it reads. There is no guess work. I'm not doing any guess work on whether or not the program will work. I just know that the chance that it WILL work, even temporarily is better than the alternative of doing nothing and seeing major institutions fall, the value of our dollar fall, our businesses fail, our savings, investments and even retirement accounts dissapear and government be trapped in a situation where it is TOO LATE to do anything about it.

[Tequila Jong-il]

All the most recent figures available. Calm down, faggots.

no wargasms...even if the shit does work in the short term its still gonna fuck us in the long run. Its a money grab. Its not needed. They are probably ten things that can be done right now to fix the problem without this fucking bailout.

we are pouring billions into a broken economy instead of just fixing the fucking economy.

if you have a pool with a leak in it, what makes more fucking sense, pouring in billions of dollars of water to try and keep the water high, or fixing the fucking leak first?

[Don Kabz]

Originally Posted by Wargasms

Obama has proposed to Increase FDIC protection, but FDIC cant even realistically cover the protection they supposedly provide now, because of the government's own financial situation.

Americans DONT understand. Americans arent paying attention, or are not able to understand the implications. Most americans think this shit doesnt even effect them.


You are only looking at what happens if the plan fails. It also has the potential to WORK and to provide the economic stimulation we need to hold us up until new regulation and safeguards can be put in place to prevent future crumbles, and restructure and regulate the industries and institutions that caused the problems in the first place. This isnt an economic FIX, this is to buy us time and keep us from a full crash. This is an evasive action taken by the government. Thats why its only TEMPORARY in nature and has an expiration date.


For every financial expert against it, there are more saying it is necessary, especially as every day, something else crumbles. Im not throwing around credentials, im saying that I understand legislation and that all this conspiracy bullshit and taking little pieces out of context to make it support what you want to believe about the bailout isnt true. Niggas in here spreading that there is no checks or review on secretary of treasury's actions, when thats completely false.

You have a degree in economics and work in the industry. But you cannot predict how things will play out when the variables are unlike they have ever been before.

i have a Juris Doctorate, and i work with legislation on a daily basis. I can read a bill, and interpret it as it reads. There is no guess work. I'm not doing any guess work on whether or not the program will work. I just know that the chance that it WILL work, even temporarily is better than the alternative of doing nothing and seeing major institutions fall, the value of our dollar fall, our businesses fail, our savings, investments and even retirement accounts dissapear and government be trapped in a situation where it is TOO LATE to do anything about it.

[Wargasms]

do you no realize that credit has frozen in the past week teq?

[Wargasms]

Originally Posted by Skrybe SK

no wargasms...even if the shit does work in the short term its still gonna fuck us in the long run. Its a money grab. Its not needed. They are probably ten things that can be done right now to fix the problem without this fucking bailout.

we are pouring billions into a broken economy instead of just fixing the fucking economy.

if you have a pool with a leak in it, what makes more fucking sense, pouring in billions of dollars of water to try and keep the water high, or fixing the fucking leak first?

if the shit had passed yesterday, we would have 1.2 trillion more dollars circulating in our economy than we have today

The bill would have more than already paid for itself by providing market stability.

[Wargasms]

i want kabz to post his understanding and theory on the economy and this legislation.

break it down for us homie.