Are certain lives in danger?
#11
Posted 21 September 2008 - 09:58 PM
#12
Posted 21 September 2008 - 10:02 PM
"The power of accurate observation is commonly called cynicism by those who have not got it."
--George Bernard Shaw
"None are so hopelessly enslaved as those who falsely believe they are free."
--Johann Wolfgang von Goethe
#13
Posted 21 September 2008 - 10:09 PM
There is no point in my coming up with arguments as to why the bailout is not a good idea. Those arguments are pretty common around here. I am not likely the come up with a thought that most traders haven't already entertained.
It is just amazing to me that there is this much agreement among lawmakers so fast.
Even if the idea that the problems will work themselves out best without intervention is truly idiotic, odds favor that at least one lawmaker would express that view.
So far the panic has been much greater than the crash. So far this has been a pretty mild bear market as far as bear markets go. I wouldn't expect this much concern over a situation by lawmakers without people lying sidewalks bleeding.
James
I'm all eyes James. What is "the other side of the issue." What is the alternative to the "essence of this plan" that cannot be spoken for fear of death?
I would guess that others might argue something like this.......
"Mr. Paulson, I think that the damage being done by government intervention in the financial markets will outweigh the short term benefits of a bailout."
Or, "Mr. Paulson, my understanding of free market economics is that suffering the consequences of poor decisions is an essential ingredient, to a strong economy. I think it is best that the government remain on the sidelines. My vote is no! A bailout would hurt my constituents."
Or, "Mr. Paulson, in my recollection there has never been a Treasurary Secretary who has assumed the kind of duties you are now perfoming. Sorry, but I don't trust your motives. I would rather put my faith in market generate outcomes. Thank you, but I am voting no."
I would guess that at least one or two comments along those lines would bubble to the surface.
James
We don't know they or other ideas weren't brought up. The three "arguments" you make have no back up as to why they are realistic solutions (even though they may be valid on principle), as opposed to the one proposed by Paulson.
I would not characterize your three as alternatives that one would be killed for making. I doubt seriously you'd get anywhere near a majority behind any of those three.
It was Paulson's job to convince those congressmen in the meeting as to why this had to be the way. Call me naive but, I assume questions were asked. Numbers including debits versus assets were itemized. There are details that are not agreed on by all and will take days to work out.
#14
Posted 21 September 2008 - 10:14 PM
Even if the idea that the problems will work themselves out best without intervention is truly idiotic, odds favor that at least one lawmaker would express that view.
I thought I saw a few lawmakers on the news tonight who are opposed.
They are in the minority.
BIGGEST SCIENCE SCANDAL EVER...Official records systematically 'adjusted'.
#15
Posted 21 September 2008 - 10:18 PM
http://articles.mone...guidedPath.aspx
#16
Posted 21 September 2008 - 10:19 PM
#17
Posted 21 September 2008 - 10:30 PM
#18
Posted 21 September 2008 - 10:35 PM
Have any of you guys read "Empire Of Debt" by William Bonner? I think it's time for me to find it and read it again.
Why bother reading it? You are watching the live action version.
#19
Posted 21 September 2008 - 10:37 PM
#20
Posted 21 September 2008 - 10:59 PM