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Author Topic: Obama's first real mistake?
glassman
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Stocks rise on reports of Obama plan for bad bank assets
The Dow gains 200 points on speculation that the administration may set up a 'bad bank' to acquire soured assets and on the Fed's statement that it expects to keep interest rates low 'for some time.'
By Walter Hamilton
January 29, 2009

Reporting from New York -- White-hot worries about the country's banks have cooled noticeably as expectations have grown that the Obama administration will create a "bad bank" to clean all the toxic debt off the financial sector's balance sheets.


http://www.latimes.com/business/investing/la-fi-markets29-2009jan29,0,6506660.st ory


we've been robbed.

the bailout last fall was supposed to do this.

instead Paulson bought stock, and now they are coming back asking to do this (again?).


the banks are going to have to bite the bullet and get themselves out of this IMO.

maybe i was wrong to support the first bailout.

i still firmly beleive that our system would have collapsed, and i think i was being even more pessimistic than most, but it is becoming clear that i wasn't even close on my estimate of how bad it really was/is.

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bdgee
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Had Paulson and dubya done as they were supposed to and as they told Congress they would, that funding would not have been diverted into trying to reclaim the freemarket dream (the freemarket lie) of being a perfect economic system. (That's what is doomed to happen if you put any religious fanatic in charge of any governmental effort or program.) It isn't the failure of the first bailout that is the faulty element here, it is the previous administrations willingness to keep on believing religiously in the freemarket and to lie to the people , AGAIN!
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Lockman
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Hopefully this time it works.

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CashCowMoo
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Glass, dont you know Obama is incapable of making mistakes? Just ask some on the board im sure they will do whatever they can to assure you wont ever make just one.

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glassman
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quote:
Originally posted by CashCowMoo:
Glass, dont you know Obama is incapable of making mistakes? Just ask some on the board im sure they will do whatever they can to assure you wont ever make just one.

LOL, yeah, under slick willie i lived in socali at a university, i used to get into some interesting debates at cocktail parties [Big Grin]

nothing like whipping out a big fat cigar to "stimulate" conversation [Roll Eyes]

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J_U_ICE
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quote:
Originally posted by CashCowMoo:
Glass, dont you know Obama is incapable of making mistakes? Just ask some on the board im sure they will do whatever they can to assure you wont ever make just one.

 -

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bdgee
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quote:
Originally posted by J_U_ICE:
quote:
Originally posted by CashCowMoo:
Glass, dont you know Obama is incapable of making mistakes? Just ask some on the board im sure they will do whatever they can to assure you wont ever make just one.

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Then too, maybe you and cow should wait and see how things go first?
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Propertymanager
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quote:
Had Paulson and dubya done as they were supposed to and as they told Congress they would, that funding would not have been diverted into trying to reclaim the freemarket dream (the freemarket lie) of being a perfect economic system. (That's what is doomed to happen if you put any religious fanatic in charge of any governmental effort or program.)
Let's see - who exactly was in charge of the congress that passed the first bailout? Who is in charge now and is about to pass another one? We got screwed out of $700 Billion and we're about to get screwed again. This time, you don't have dubya to blame. Look in the mirror bdgee - you and your beloved socialists have been squarely in the driver's seat for both bailouts! You have only yourselves to blame!
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The Bigfoot
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Who is the one who asked for the first bailout in the first place PM? Which President was it that told congress that if they failed to act it could mean the destruction of the American financial industry? Which congressional leaders insisted on making the second half of the bailout money off limits until they were satisfied that it was being used appropriately which is why only 350 Bill has been wasted so far?

Oh yeah....now we remember don't we?

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The Bigfoot
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P.S. Wheeler Dealer Harry Reid is not a man I defend. You can trash him to your hearts content PM.

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bdgee
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quote:
Originally posted by Propertymanager:
quote:
Had Paulson and dubya done as they were supposed to and as they told Congress they would, that funding would not have been diverted into trying to reclaim the freemarket dream (the freemarket lie) of being a perfect economic system. (That's what is doomed to happen if you put any religious fanatic in charge of any governmental effort or program.)
Let's see - who exactly was in charge of the congress that passed the first bailout? Who is in charge now and is about to pass another one? We got screwed out of $700 Billion and we're about to get screwed again. This time, you don't have dubya to blame. Look in the mirror bdgee - you and your beloved socialists have been squarely in the driver's seat for both bailouts! You have only yourselves to blame!
OK, smartazz, explain to me exactly who it was that, after he got the money, then, to please his own religious bent to freemarketism, and with dubya's agreement, ignored the assurances they both gave to Congress in order to get the money, changed what was supposed to be done with it. Under their management, it became nothing but a multi-billion dollar present to wall street and the big banks so they could buy out competition, swamp the little guys, and use it to buy corporate perks, and pay huge bonuses to the directors of the banks.

IT WAS NOT CONGRESS THAT DID THAT, YOU DOLT!!!!

It was Paulson THAT DID IT AND and dubya was the only person that could have made him do as they had both guaranteed they would with that money. And your hero, similarly worshiping freemarketism and its first commandment "Trust big business always and absolutely", dubya didn't bother to stop him.

That freemarket religion has been proved to be a very dangerous fantasy. It's why the world is busted financially.

Only myself to blame, you say? Don't be as stupid as you act. I have the republican party, dubya, and Paulson to blame, since it was them that told the lies and stoled the money.


You are a complete fool.

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Propertymanager
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quote:
OK, smartazz, explain to me exactly who it was that, after he got the money, then, to please his own religious bent to freemarketism, and with dubya's agreement, ignored the assurances they both gave to Congress in order to get the money, changed what was supposed to be done with it. Under their management, it became nothing but a multi-billion dollar present to wall street and the big banks so they could buy out competition, swamp the little guys, and use it to buy corporate perks, and pay huge bonuses to the directors of the banks.
WRONG AGAIN BDGEE (as usual)! The Democratic Congress gave the money to Paulson without proper restrictions. In essence, they gave him a blank check. Now, they are working on another nearly Trillion dollars of stimulus which will do almost nothing to stimulate the economy or create jobs - especially in the near term. Depending on which number you hear, no more than 17% of that money will even be spent this year. It's just another huge bunch of socialist spending!

I, for one, am thrilled that Obama (the socialist) is President and the socialists are in charge of both houses of congress! He's going to be sitting in the Captain's seat as this economy crashes and burns in a way never seen before. The great socialist experiment is about to have it's final flight!!!

After the total collapse of our economy and our country, just maybe we can put this country back together under conservative principles. Sanity may once again reign. Entitlements will be a thing of the past and that entrepreneurial spirit that built this country may once again be allowed to flourish!

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raybond
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You throw around the word socialist like a real six gun buckaroo I don't think you know what socialism is better be careful or if things really get bad you might get a real taste of it and its not pretty how it gets onboard I don't like it and I am a lefty I don't think some like you will make it to see the end

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thinkmoney
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I do not want to fingerpoint but spend and spend will collapse the dollar and bye bye USA...

Spending got us in this mess and more spending will collapse the USA. I for one said let those that did what they did fail and then jail and fines...

But, so many say spend and bye USA - OMG - why?
Does anyone think that socialism will solve this mess? Capitalism didnt fail.. True Capitalism would of let those jerks fail and the USA would of survived --but now spending and dollar collapse--and USA depression-

Obama dont get it and republicans didnt get it - OMG - what is an American to do??

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glassman
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Obama dont get it and republicans didnt get it - OMG - what is an American to do?

you really think Obama can afford to "allow" the sytem to collapse any more than Bush could have?

you know? i've been posting here for five years now that we cannot keep running a deficit, that we cannot have trade deficits,

it's all coming home to roost.

the bankers took that money and did WHAT? with it?

now? they need more?

none of this makes sense unless you beleive they stole all of it.

it's really sad to have children like PM trying to blame everybody but the real culprits...

trying to justify some idiotic us against them argument while the thieves sit there and laugh...

people need to be going to jail. starting with Bush and Cheney.

the money went somewhere.

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glassman
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quote:
Originally posted by Propertymanager:
quote:
OK, smartazz, explain to me exactly who it was that, after he got the money, then, to please his own religious bent to freemarketism, and with dubya's agreement, ignored the assurances they both gave to Congress in order to get the money, changed what was supposed to be done with it. Under their management, it became nothing but a multi-billion dollar present to wall street and the big banks so they could buy out competition, swamp the little guys, and use it to buy corporate perks, and pay huge bonuses to the directors of the banks.
WRONG AGAIN BDGEE (as usual)! The Democratic Congress gave the money to Paulson without proper restrictions. In essence, they gave him a blank check. Now, they are working on another nearly Trillion dollars of stimulus which will do almost nothing to stimulate the economy or create jobs - especially in the near term. Depending on which number you hear, no more than 17% of that money will even be spent this year. It's just another huge bunch of socialist spending!

I, for one, am thrilled that Obama (the socialist) is President and the socialists are in charge of both houses of congress! He's going to be sitting in the Captain's seat as this economy crashes and burns in a way never seen before. The great socialist experiment is about to have it's final flight!!!

After the total collapse of our economy and our country, just maybe we can put this country back together under conservative principles. Sanity may once again reign. Entitlements will be a thing of the past and that entrepreneurial spirit that built this country may once again be allowed to flourish!

sick

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glassman
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it wasn't "socialism" that got us where we are and socialism isn't the plan to get us out.

if the GOP president says to the congress we need money?

and the (democratic) congress, in a nonpartisan way responds? the president is to blame.

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CashCowMoo
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MOO MOO MOOOOOO

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It isn't so much that liberals are ignorant. It's just that they know so many things that aren't so.

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Propertymanager
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quote:
the bankers took that money and did WHAT? with it?
They bought other banks; they paid huge bonuses to their buddies; they spent $1 million renovating their offices. In other words, they enriched themselves and the American public and our representatives in government are directly to blame.

now? they need more?

No, they don't need more - THEY WANT MORE! They successfully got the panzies that are the American people to GIVE THEM $700 BILLION with nary an objection. It worked GREAT the first time - why not try again?

quote:
none of this makes sense unless you beleive they stole all of it.
The didn't steal it - the American people were STUPID enough to give it to them. Now, we're going to give them even more! Fool me once, shame on you. Fool me twice....
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Highwaychild
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It should have been decided by the people that's working for it on the ballot last November. Instead of one persons' 'do it or the sky will fall' President. Besides, lies already spent a lot of money for the Worlds biggest embassy in Iraq. And, being he with Obama was pushing this, if Bush wants it, we should have been running like hell from this.

3% for infrastructure, when it was 30% of the campaign...

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glassman
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They bought other banks; they paid huge bonuses to their buddies; they spent $1 million renovating their offices. In other words, they enriched themselves and the American public and our representatives in government are directly to blame.

now? they need more?

No, they don't need more - THEY WANT MORE! They successfully got the panzies that are the American people to GIVE THEM $700 BILLION with nary an objection. It worked GREAT the first time - why not try again?


so, you've accounted for 20 billion...

what about the OTHER 330 billion?

Bush did this and he's still YOUR man PM, you can try to run from him all you want, but that just shows lack of character.

when the President stands on the podium and says the economy will crash and burn if he doesn't get it? the economy will crash and burn if he doesn't get it. that's human nature.

BTW? buying banks didn't make the money disappear, cuz the money stays "in-house"....

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bdgee
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PM, along with being the biggest jerk here, is in contention for being the dumbest fool that has ever posted here.

He's so mentally restricted that one wants to feel sorry for him, but then, that personality rears up to its full ugliness and saves us from that.

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Machiavelli
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quote:
Originally posted by CashCowMoo:
MOO MOO MOOOOOO

I always told ya to stop Mooinggg [Wall Bang] [BadOne]

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The Bigfoot
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Ugh! Did PM just say he hopes that America the Beautiful crashes and burns?

Too Far PM.

I was often seen saying that president Bush was hurting our country. But I never once said I hoped he would so that I could be proved right.

Vindictive Unpatriotic Selfish Vituperation

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T e x
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Slinky is only one in a long line of pretenders who, for whatever reason, fancy themselves as "champion debaters" or "truth bringers" or whatever...

What none of these half-baked cookies seem to understand is that a full-baked argument is what counts. No vet here is gonna stand very long for what really amounts to bee-YUL-krap.

We may not agree on this or that--sometimes energetically so--but that doesn't allow for stoopid, either.

Fun's fun--but you have to know how...

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Adventures in microcapitalism...

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bdgee
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PM is just a simple combination of self centered stupid and mean. He has no ideas, just effusements. His post affront the atmosphere of this forum like loud farts in a springtime flower garden.
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Propertymanager
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quote:
Ugh! Did PM just say he hopes that America the Beautiful crashes and burns?

Too Far PM.

No, I didn't say that (but good try). What I said is:

"I, for one, am thrilled that Obama (the socialist) is President and the socialists are in charge of both houses of congress! He's going to be sitting in the Captain's seat as this economy crashes and burns in a way never seen before. The great socialist experiment is about to have it's final flight!!!"

quote:
No vet here is gonna stand very long for what really amounts to bee-YUL-krap.
Vet? Veteran of Gibberish!

quote:
Bush did this and he's still YOUR man PM, you can try to run from him all you want, but that just shows lack of character.
B.S.! Bush was never a conservative and never my man! Although, he was certainly better than Al (I invented the internet) Gore would have been.

quote:
when the President stands on the podium and says the economy will crash and burn if he doesn't get it? the economy will crash and burn if he doesn't get it. that's human nature.
You guys really miss President Bush, don't you? Without him, you will have no-one but yourselves to blame for the world's problems. You have the presidency and both houses of congress and EVERYTHING that happens from this point forward is your responsibility. Good Luck!
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jordanreed
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grasping at straws?

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jordan

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bdgee
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" quote:Ugh! Did PM just say he hopes that America the Beautiful crashes and burns?

Too Far PM.

No, I didn't say that (but good try). What I said is:

"I, for one, am thrilled that Obama (the socialist) is President and the socialists are in charge of both houses of congress! He's going to be sitting in the Captain's seat as this economy crashes and burns in a way never seen before. The great socialist experiment is about to have it's final flight!!!"
"


Yeah, ya did, PM. You try to deny the disgusting hateful trash you put out, but, unlike you, some people can read and interpret the English language, even without having to mouth every syllable as you must.

" quote:No vet here is gonna stand very long for what really amounts to bee-YUL-krap.

Vet? Veteran of Gibberish!

quote:Bush did this and he's still YOUR man PM, you can try to run from him all you want, but that just shows lack of character.

B.S.! Bush was never a conservative and never my man! Although, he was certainly better than Al (I invented the internet) Gore would have been.

quote:when the President stands on the podium and says the economy will crash and burn if he doesn't get it? the economy will crash and burn if he doesn't get it. that's human nature.

You guys really miss President Bush, don't you? Without him, you will have no-one but yourselves to blame for the world's problems. You have the presidency and both houses of congress and EVERYTHING that happens from this point forward is your responsibility. Good Luck!


And what happened for the last eight years is your responsibility!

You are a total azz (and I mean that in EVERY sense but the literal, my apologies to donkees) and a classless low level idiot, at best.

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Propertymanager
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Sorry Jordan, I forgot that you lefties are NEVER RESPONSIBLE for your actions. You're absolutely right, I am grasping for straws if I thought that you lefties would accept responsibility for anything. You are helpless victims who are entitled to our sympathy and our welfare dollars. President Obama and the democratic congress can't be held responsible for anything. It must be big business; entrepreneurs; or George Bush (even though he's not in office). LOL!
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bdgee
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Talk about shirking responsibility!!!

Man, you are either blatantly ignorant or blatantly lying.

We, the people of this Nation. have been helpless victims of Party first, to hell with Country, republicans for a decade and the republican party is exactly who is guilty.

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Propertymanager
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quote:
We, the people of this Nation. have been helpless victims of Party first, to hell with Country, republicans for a decade and the republican party is exactly who is guilty.
Wrong Bdgee! I, and other conservatives, are not victims! Only you whiney lefties see yourselves as helpless victims that need the productive citizens of the country to subsidize you.

Having said that, BUSH IS NO LONGER PRESIDENT! Stop whining and complaining and FIX THINGS! Socialists now have the Presidency and both houses of congress. You have all the power. What are you going to do with it?

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jordanreed
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it'll take more than 2 weeks to fix the bushs' mistakes..lol..give it years and stop trying to undermine Obama and his solutions before they have a chance to work...step one would be to stop this idiotic socialist,ie,communist, talk.

it'll take the nation(people) as a whole to try and correct this repuplican mess!

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jordan

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Propertymanager
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Obama will have at least 4 years to correct things, unless the country collapses before that time. Of course, since you lefties have all the answers and all the power, it certainly shouldn't take 4 years to fix things. You don't need a single republican vote to pass your agenda, so why not just pass what you like and fix things now? Why does Obama want republican votes on the stimulus package? Answer: because it is nothing but socialist spending that will do absolutely nothing to fix our problems. He needs republican cover so that when it fails, he can claim it was bipartisan.

The only thing that will fix this mess is a return to sanity. Cut out the spending on social programs we can't afford and pay for what we do spend. That's the only solution that will work, but we won't have the political will to do that until the economy completely collapses!

Posts: 1577 | From: Ohio | Registered: Oct 2007  |  IP: Logged | Report this post to a Moderator
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p.s. The democrats had control of the congress the past two years and could have voted against the first bailout if they so chose. They had been claiming for years that Bush was a liar, so why would they accept his word that they must pass the stimulus package or the world would end??? Stretches credibility, doesn't it?
Posts: 1577 | From: Ohio | Registered: Oct 2007  |  IP: Logged | Report this post to a Moderator
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