Re: $700 B Bailout
 

[quote=FRPLG;481335]Well AIG is one of the main PMI insurers and that is basically what brought them down. I think Matty can speak more intelligently to this since he works for them.[/quote]

I guess that makes sense, maybe I just don't know enough about this situation. Just seems to me like our tax dollars are going to the greedy to bail them out. Maybe I am wrong on that.

Although, on a side note, it does seem the government is using real estate to make a profit. If they buy all the notes, eventually the people will buy, and will buy at market price, meaning the gov. "SHOULD" make a profit.

Re: $700 B Bailout
 

I wish I could speak on what exactly brought AIG down. We had an online townhall meeting yesterday with our CEO and I specifically asked if he could explain what credit swaps are and how it caused this crisis and my email went unanswered.

Re: $700 B Bailout
 

[quote=jsarno;481352]I guess that makes sense, maybe I just don't know enough about this situation. Just seems to me like our tax dollars are going to the greedy to bail them out. Maybe I am wrong on that.

Although, on a side note, it does seem the government is using real estate to make a profit. If they buy all the notes, eventually the people will buy, and will buy at market price, meaning the gov. "SHOULD" make a profit.[/quote]

If this was a corporation doing that, I would have absolute faith that that would happen. It's almost foolproof. BUT- This is the G.O.V. we're talking about. They'll find a way to fuck it up. Have no fear.

Re: $700 B Bailout
 

[quote=dmek25;481060]i would like to see a link. because Sen. McCain has been one of the biggest proponents of deregulating. which in turn was part of the cause of this mess[/quote]

[url=http://www.govtrack.us/congress/record.xpd?id=109-s20060525-16&bill=s109-190#sMonofilemx003Ammx002Fmmx002Fmmx002Fmhomemx002Fmgovtrackmx002Fmdatamx002Fmusmx002Fm109mx002Fmcrmx002Fms20060525-16.xmlElementm0m0m0m]GovTrack: Senate Record: FEDERAL HOUSING ENTERPRISE REGULATORY REFORM... (109-s20060525-16)[/url]

Re: $700 B Bailout
 

This thread needs Schneed's contribution

Re: $700 B Bailout
 

[IMG]http://picayune.uclick.com/comics/wpcbe/2008/wpcbe080924.gif[/IMG]

Re: $700 B Bailout
 

[quote=SmootSmack;481434]This thread needs [B]Schneed's contribution[/B][/quote]
yeah, we need some arrogance, and my way is right, and no one else knows what they are talking about, makes for hearty discussion:(

Re: $700 B Bailout
 

[quote=dmek25;481492]yeah, we need some arrogance, and my way is right, and no one else knows what they are talking about, makes for hearty discussion:([/quote]

But wait, you and saden have already contributed....

;)

Re: $700 B Bailout
 

[quote=dmek25;481492]yeah, we need some arrogance, and my way is right, and no one else knows what they are talking about, makes for hearty discussion:([/quote]

It's not bragging if you can back it up.

Schneed has a very keen grasp of the financial industry and explains it very well, from the personal to the corporate/national levels. His knowledge adds tremendous value to these parking lot threads, if you're willing to listen.

Re: $700 B Bailout
 

[quote=SmootSmack;481434]This thread needs Schneed's contribution[/quote]

That was actually who I had in mind with this thread. I expected him to chime in.

Re: $700 B Bailout
 

One of my professors spoke about this in a business class the other night. He said that something like this happened in either Sweden or Finland years ago, and they tackled it the wrong way. Basically, in short, the gov't bailed the banks out, but in return they took PROFITABLE ASSETS until the banks could pay them back. It was hard on the banks, but fair, and their economy rebounded and just a lot of the industrialized world, their economy is crushing ours. Amazing how far you can fall in eight years.

(That comment wasn't meant as a Bush comment. But roughly eight years ago, the dollar was soaring, housing was soaring, the economy was absolutely rolling. For the last 2-4 years. Not so much. This is due to a lot of contributions, some from Clinton, some from Bush, all approved by Congress.

Re: $700 B Bailout
 

[quote=SmootSmack;481536]It's not bragging if you can back it up.

Schneed has a very keen grasp of the financial industry and explains it very well, from the personal to the corporate/national levels. His knowledge adds tremendous value to these parking lot threads, if you're willing to listen.[/quote]

I gotta agree with this. I have a Master's in Finance, and he still teaches me a thing or two. He lives in this stuff, while the rest of us don't.

Re: $700 B Bailout
 

Honestly there are a lot of smart people who can't figure this out. I think if it was easy to figure out it wouldn't have happened.

Right now, in whatever form, the bailout has like a 50-50 shot at righting this stuff at best anways.

That is why it is taking so long. Neither side wants to ram a proposal down not because they want to be seen as working together but more importantly they want to CYA. They both want to be able to say the other side voted for this thing too if it doesn't work.

Re: $700 B Bailout
 

Rejected.


[url=http://money.cnn.com/2008/09/29/news/economy/bailout/index.htm?cnn=yes]Bailout moves towards congressional approval - Sep. 29, 2008[/url]

Re: $700 B Bailout
 

C'moooon free market! Do your thang!