Crunch

[Strangelet]

Originally Posted by bas_I_am

sarcasmo, you need to study economics.

one thing I like about dirty is how no one starts their posts with functionless condescending remarks. makes a distinct difference between itself and the software development forums I read out of necessity. where people are obviously skipping showers in order to make the time to make devastating attacks on people's intelligence so they can proudly say "so I said [insult]" to their plastic real doll that night.

[Sean]

Originally Posted by Strangelet

one thing I like about dirty is how no one starts their posts with functionless condescending remarks.

ALMOST no one...

Anyway, maybe I was completely wrong. Although they are saying that the rise was due to confidence that a bailout deal would be reached by weeks end.

[jOHN rODRIGUEZ]

Has anyone else been able to read this? financialservices.house.gov.

[bas_I_am]

Originally Posted by Strangelet

one thing I like about dirty is how no one starts their posts with functionless condescending remarks.

I am assuming that you are being sarcastic. In my defense, I started with a conjecture. Made three supporting arguments (full of typos, I admit.) And finished with a conclusion.

Originally Posted by Sean

Anyway, maybe I was completely wrong. Although they are saying that the rise was due to confidence that a bailout deal would be reached by weeks end.

I'm thinking that it is just a rebound based on 'bargain' hunting by unsophisticated investors spurred by shorts picking up their marks.

Note, it hit the 10800 resistance; if it goes through to 11000 it should hold on confidence. My bet, it is back down to 10300 by friday. If we break through 10200 it will fall to 9900.

[Rog]

Originally Posted by bas_I_am

Third this is not about bailing out the greedy mortgage brokers and bond insurers.

yes it fuckin is! the time has come for a great change in world economics.... if this, and other, 'bail-outs' occur in the form that has been put forward then the people with the money will not suffer, they will learn nothing except they can rip us all off at will and we will get more of the same.

[bas_I_am]

Originally Posted by Rog

yes it fuckin is! the time has come for a great change in world economics.... if this, and other, 'bail-outs' occur in the form that has been put forward then the people with the money will not suffer, they will learn nothing except they can rip us all off at will and we will get more of the same.

It was regulatory failure.

Eight years of lassez-faire (sp?) policy by a collusive presidency allowed this to happen.

The "people with money" will hurt a little but they will weather the storm. The people without will be the ones that suffer.

[Deckard]

Sounds like the ultimate gun to our heads.

I don't care if the rich are doing well. I only care if the rest of us are doing bad.

I just lost one of my longest standing clients this morning - a family business of 25+ years went bust. And only a fortnight ago, another one ceased trading.

Just hoping things don't snowball.

[Strangelet]

Originally Posted by Rog

yes it fuckin is! the time has come for a great change in world economics.... if this, and other, 'bail-outs' occur in the form that has been put forward then the people with the money will not suffer, they will learn nothing except they can rip us all off at will and we will get more of the same.

i'm with you, rog. Granted I have to appeal to authority for my opinion. But I'm also appealing to arguments that make the most common sense (to me). Either way this bailout is wrong.

Check this chick out. Whether you agree with the bailout or not. She's going to succeed in getting you pissed the fuck off.

[bas_I_am]

I am not for a bailout that puts the onus on the taxpayers. I am anything but that. My argument is something has to be done. Any action taken must protect the common man and not reward credit insurers, mortgage bankers etc.

But this is not about bailing them out, its about preventing their maleficence from destroying everyone (which it will). At the same time, addressing the US executive branch regulatory malfeasance.

Any argument that says "money is bad! Let 'em all burn" is infantile. Now is the opportunity to fix things. Its the carrot-stick approach - "Ok, here's the money, but in order to get it, we are going to have some significant rule changes!" Then we investigate and prosecute the perpetrators.

If we do nothing, the greedy rich will remain rich, though they may feel a slight pinch. When things begin to rebound, which inevitably it will, it will be only the guys who screwed it up that will have the resources to benefit from it. Meanwhile, everything will be drained from the poor.

If you listen to Rep. Kaptur, she doesn't say do nothing, she is saying what we do has to be done in a manner that protects the people. At the same time she says we have to do something.

The only other alternative is to create a world war.

[Sean]

Wow. I agree with this last post from bas_I_am. I think that's a first for me...