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View Full Version : Bailout Could Deepen Crisis, CBO Chief Says



MDFINFAN
09-25-2008, 04:13 PM
Orszag offered alternatives, such as equity injections into particularly troubled companies, but allowed that those could lead to further problems, as well. In the end, he said, Congress must pass some sort of relief, if only because Wall Street is expecting it.

"If we did nothing, there is a significant risk of another collapse of confidence in the financial markets," he said.

Poornate nailed that on point in another thread...

http://www.washingtonpost.com/wp-dyn/content/article/2008/09/24/AR2008092402799.html?hpid=topnews

Dolphins9954
09-25-2008, 07:33 PM
Poornate nailed that on point in another thread...

http://www.washingtonpost.com/wp-dyn/content/article/2008/09/24/AR2008092402799.html?hpid=topnews



Bush, Mccain, Obama, The GOP and The Dems have released a photo showing their bipartinsanship with this bailout.



http://www.finheaven.com/clear.gif

Finfang
09-25-2008, 08:08 PM
:lol:


Hey my answer is to give $1 million dollars to every tax payer in this country. That would only cost the government $138 million and would saturate the economy with a ton of cash.

I know inflation would soar and everyone would quit their jobs so it's not a good idea but is it really any worse than Wallstreet Welfare.

Why punish taxpayers. Throw them a bone.

ArmyFin7
09-25-2008, 08:27 PM
Does anyone have a backup plan for this thing when it doesn't work?? I'm not overly concerned about it considering Im paid by the gov't and I don't have anything invested in the stock market. But If this thing fails miserably....then what?

Dolphins9954
09-25-2008, 08:47 PM
Does anyone have a backup plan for this thing when it doesn't work?? I'm not overly concerned about it considering Im paid by the gov't and I don't have anything invested in the stock market. But If this thing fails miserably....then what?


More bailouts and stimulus checks. All this debt and printed money out of thin air will work eventually. I promise you. The government told me so.

Dolphins9954
09-25-2008, 08:49 PM
:lol:


Hey my answer is to give $1 million dollars to every tax payer in this country. That would only cost the government $138 million and would saturate the economy with a ton of cash.

I know inflation would soar and everyone would quit their jobs so it's not a good idea but is it really any worse than Wallstreet Welfare.

Why punish taxpayers. Throw them a bone.

As crazy as that sounds. It's a better idea than this one.

milldog
09-25-2008, 09:00 PM
Does anyone have a backup plan for this thing when it doesn't work?? I'm not overly concerned about it considering Im paid by the gov't and I don't have anything invested in the stock market. But If this thing fails miserably....then what?

I'd buy as much as you could possibly afford. That's what I'm doing. Thanks to our super government, they'll never let the stock market fail! Guarantee that's what the rich are doing these days. We'll probably never see the Dow at 10,000 again.

Dolphins9954
09-25-2008, 09:07 PM
Prestigious Group of 192 Economists - Including Nobel Prize Winners - Slams Bailout (http://georgewashington2.blogspot.com/2008/09/prestigious-group-of-economists-slam.html)


The following group of prominent economists, including numerous Nobel Prize winners, has written a letter slamming the bailout proposal:


http://georgewashington2.blogspot.com/2008/09/prestigious-group-of-economists-slam.html

milldog
09-25-2008, 09:09 PM
I'd buy as much as you could possibly afford. That's what I'm doing. Thanks to our super government, they'll never let the stock market fail! Guarantee that's what the rich are doing these days. We'll probably never see the Dow at 10,000 again.

I'vew got a buddy of mine who went to college (Florida State, sorry!), has a good job, and makes a decent living. He told me since gold is at an all time high, he would like to invest in some. I told him at his young age (32), he'd be better off buying mutual funds due to their ability to go up. Gold will only go down. I really can't believe what thier teaching with a comment like that. Yeah maybe you'll lose money in the short term due to no one knowing where the bottom is, but unless you believe the market will go belly-up, your chances of making some good money right now are as good as it gets!

Ferretsquig
09-25-2008, 09:10 PM
Hey my answer is to give $1 million dollars to every tax payer in this country. That would only cost the government $138 million

um....... I guess since it would be so difficult to respond to this in a non insulting and derogatory manner it is best left alone. Ah you do tempt me so...

Dolphins9954
09-25-2008, 09:17 PM
um....... I guess since it would be so difficult to respond to this in a non insulting and derogatory manner it is best left alone. Ah you do tempt me so...


I think it's about as crazy as this bailout plan is. And as crazy as it sounds. It could have better results. Don't take that as an endorsement.

ohall
09-25-2008, 10:50 PM
Wanting us to find a different way than for our children to pick up this bill is not wanting to do nothing.

There has to be some middle ground here than simply passing this onto our children. They already have one hell of a bill to pay.

MDFINFAN
09-25-2008, 11:02 PM
Wanting us to find a different way than for our children to pick up this bill is not wanting to do nothing.

There has to be some middle ground here than simply passing this onto our children. They already have one hell of a bill to pay.

i agree, and I sit with those repubs and dems who are trying to find a different route that doesn't put this all on our kids and grandkids and great grandkids.. I hate this whole mess.. I just don't want to see the main street guys who do what's right get hurt by this thing..

Finfang
09-26-2008, 08:51 AM
Found this. Once again a better idea than giving money to the fat cats on Wall Street.




I'm against the $85 BILLION bailout of AIG. Instead, I'm in favor of giving $85,000,000,000 to America in a "We Deserve It" dividend. To make the math simple, let's assume there are 200,000,000 bona fide U.S. citizens, aged 18+.

Our population is about 301 million counting every man, woman and child. So, 200,000,000 might be a fair stab at adults 18 and up. Now, divide 200 million, 18+ adults into $85 billion - that equals $425,000.00 each! Yes, my plan is to give that $425,000 to every adult as a "We Deserve It" dividend.
Of course, it would NOT be tax free. So, let's assume a tax rate of 30%. Everyone would pay $127,500.00 in taxes. That sends $25.5 billion right back to Uncle Sam! It also means that every adult 18+ has $297,500.00 in their pocket. A husband and wife would have $595,000.00!
What would you do with $297,500.00 to $595,000.00?
Pay off your mortgage = housing crisis solved.
Repay college loans = what a great boost to new grads.
Put away money for college and it'll really be there.
Save in a bank = create money to loan to entrepreneurs.
Buy a new car = create jobs .
Invest in the market = capital drives growth.
Pay for your parent's medical insurance and health care improves.
Enable Deadbeat Parents to come clean and or else.
Remember this is for every adult U.S. citizen, 18 and older (including the folks who lost their jobs at Lehmann Brothers and every other company that is cutting back) and of course, for those serving in our Armed Forces.
If we're going to re-distribute wealth let's really do it! Instead of trickling out a puny $1,000.00 economic incentive.
If we're going to do an $85 billion bailout, let's bail out every adult U.S. citizen!!
As for AIG liquidate it.
Sell off its parts.
Let American General go back to being American General.
Sell off the real estate.
Let the private sector bargain hunters cut it up and clean it up.
We deserve the money and AIG doesn't. Sure it's a crazy idea, but can you imagine the coast-to-coast block party?!
How do you spell Economic Boom? W-e D-e-s-e-r-v-e I-t d-i-v-i-d-e-n-d! I trust my fellow adult Americans to know how to use the $85 Billion "We Deserve It" dividend more than do the geniuses at AIG or in Washington, D.C..
And remember, The Birk plan only really costs $59.5 billion because $25.5 billion is returned instantly in taxes to Uncle Sam.



Bail out Americans!

Dolphins9954
09-26-2008, 09:11 AM
Found this. Once again a better idea than giving money to the fat cats on Wall Street.




I'm against the $85 BILLION bailout of AIG. Instead, I'm in favor of giving $85,000,000,000 to America in a "We Deserve It" dividend. To make the math simple, let's assume there are 200,000,000 bona fide U.S. citizens, aged 18+.

Our population is about 301 million counting every man, woman and child. So, 200,000,000 might be a fair stab at adults 18 and up. Now, divide 200 million, 18+ adults into $85 billion - that equals $425,000.00 each! Yes, my plan is to give that $425,000 to every adult as a "We Deserve It" dividend.
Of course, it would NOT be tax free. So, let's assume a tax rate of 30%. Everyone would pay $127,500.00 in taxes. That sends $25.5 billion right back to Uncle Sam! It also means that every adult 18+ has $297,500.00 in their pocket. A husband and wife would have $595,000.00!
What would you do with $297,500.00 to $595,000.00?
Pay off your mortgage = housing crisis solved.
Repay college loans = what a great boost to new grads.
Put away money for college and it'll really be there.
Save in a bank = create money to loan to entrepreneurs.
Buy a new car = create jobs .
Invest in the market = capital drives growth.
Pay for your parent's medical insurance and health care improves.
Enable Deadbeat Parents to come clean and or else.
Remember this is for every adult U.S. citizen, 18 and older (including the folks who lost their jobs at Lehmann Brothers and every other company that is cutting back) and of course, for those serving in our Armed Forces.
If we're going to re-distribute wealth let's really do it! Instead of trickling out a puny $1,000.00 economic incentive.
If we're going to do an $85 billion bailout, let's bail out every adult U.S. citizen!!
As for AIG liquidate it.
Sell off its parts.
Let American General go back to being American General.
Sell off the real estate.
Let the private sector bargain hunters cut it up and clean it up.
We deserve the money and AIG doesn't. Sure it's a crazy idea, but can you imagine the coast-to-coast block party?!
How do you spell Economic Boom? W-e D-e-s-e-r-v-e I-t d-i-v-i-d-e-n-d! I trust my fellow adult Americans to know how to use the $85 Billion "We Deserve It" dividend more than do the geniuses at AIG or in Washington, D.C..
And remember, The Birk plan only really costs $59.5 billion because $25.5 billion is returned instantly in taxes to Uncle Sam.



Bail out Americans!


I like this plan better. Though it would only be a temporary fix. And wouldn't solve the problem. Because the real problem is our fiscal and monetary policies. What this shows is how Americans would spend the money better than the government and wall street fat cats. But in the end it's only a pipe dream that would never happen.

Ferretsquig
09-26-2008, 11:30 AM
I'm against the $85 BILLION bailout of AIG. Instead, I'm in favor of giving $85,000,000,000 to America in a "We Deserve It" dividend. To make the math simple, let's assume there are 200,000,000 bona fide U.S. citizens, aged 18+.

Our population is about 301 million counting every man, woman and child. So, 200,000,000 might be a fair stab at adults 18 and up. Now, divide 200 million, 18+ adults into $85 billion - that equals $425,000.00 each! Yes, my plan is to give that $425,000 to every adult as a "We Deserve It" dividend.

Lets also assume there exists people in this country who can add, subtract, and even divide large numbers. My goodness....are people really this stupid?

If you have this much trouble with third grade math, I'm sure your computer comes with a calculator.

Finfang
09-26-2008, 01:21 PM
Lets also assume there exists people in this country who can add, subtract, and even divide large numbers. My goodness....are people really this stupid?

If you have this much trouble with third grade math, I'm sure your computer comes with a calculator.

Well I didn't write it nor did I check the math. :err:

It was the concept I was focusing on. You know give the money back to the people instead of making us pay to save the butts of the criminals on Wall Street. :up:

Just wondering, If I go out and piss all my money away, go broke and can't pay my bills will you cut me a check to bail me out.

Didn't think so! :D

Eshlemon
09-26-2008, 03:38 PM
Well I didn't write it nor did I check the math. :err:

It was the concept I was focusing on. You know give the money back to the people instead of making us pay to save the butts of the criminals on Wall Street. :up:

Just wondering, If I go out and piss all my money away, go broke and can't pay my bills will you cut me a check to bail me out.

Didn't think so! :D

Already cut you a check and more might be on the way. $600 each on a $150 billion stimulus plan. Even if your like me and tend to be math defecient, $85 billion isn't going to give you $425,000.

AIG isn't being given the money, it's a loan. And despite the rhetoric on the government bailing out a few wall street fat cats. AIG holds pensions and insurance owned by a lot of people. Would really suck if the company bankrupted and all those where lost or discounted.

BAMAPHIN 22
09-26-2008, 07:53 PM
A Bailout for All Our Bad Decisions?



It seems that each new crisis is met with a new answer from the government. After Hurricane Katrina (http://www.washingtonpost.com/ac2/related/topic/Hurricane+Katrina?tid=informline), the federal government assumed roles traditionally handled by state and local governments. After the Sept. 11, 2001, attacks, the government federalized 25,000 workers through the Transportation Security Administration (http://www.washingtonpost.com/ac2/related/topic/Transportation+Security+Administration?tid=informline). The example of security-focused countries such as Israel, which elects to have that function handled by the private sector, did not matter. Now, our federal government is likely to commit three-quarters of a trillion dollars -- more than last year's Pentagon budget -- to a bailout based on what happened in the credit markets last week.




An ever-expanding scope of federal commitment and power is not what made this country great. Expanded power in one place comes at a cost in other places. American cornerstones such as individual initiative and an entrepreneurial spirit -- born in free and open societies with private property rights and the rule of law -- have never fit particularly well within the context of an ever-growing federal government.


http://www.washingtonpost.com/wp-dyn/content/article/2008/09/25/AR2008092503602.html