Comments on: The Unfinished Bail-Out Bill And Some History Of Another Crisis http://thedemocraticdaily.com/2008/09/21/the-unfinished-bail-out-bill-and-some-history-of-another-crisis/ Political News, Progressive Commentary, Liberal Opinions and Common Sense Conversation... Sat, 26 May 2012 16:39:06 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: Dave Zickefoose http://thedemocraticdaily.com/2008/09/21/the-unfinished-bail-out-bill-and-some-history-of-another-crisis/comment-page-1/#comment-21375 Dave Zickefoose Mon, 29 Sep 2008 18:26:33 +0000 http://thedemocraticdaily.com/?p=2907#comment-21375 If the bill is so great why don't Democrats vote it in?  Democrats control both the House and Senate.The bill didn't make it because a number of  Democrats to vote 'no.' If the bill is so great why don’t Democrats vote it in?  Democrats control both the House and Senate.The bill didn’t make it because a number of  Democrats to vote ‘no.’

]]> By: jason http://thedemocraticdaily.com/2008/09/21/the-unfinished-bail-out-bill-and-some-history-of-another-crisis/comment-page-1/#comment-21363 jason Mon, 29 Sep 2008 10:27:02 +0000 http://thedemocraticdaily.com/?p=2907#comment-21363 Ron Paul has been warning about this for 30 years, listening yet>? Ron Paul has been warning about this for 30 years, listening yet>?

]]> By: jason http://thedemocraticdaily.com/2008/09/21/the-unfinished-bail-out-bill-and-some-history-of-another-crisis/comment-page-1/#comment-21362 jason Mon, 29 Sep 2008 10:24:06 +0000 http://thedemocraticdaily.com/?p=2907#comment-21362 Greatest heist in history. Planned with precision. Bail out or no bail out, the real assets goin out the back door, and here is a piece of the bill, (the draft anyway) Sec. 8. Review. Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency Greatest heist in history. Planned with precision. Bail out or no bail out, the real assets goin out the back door, and here is a piece of the bill, (the draft anyway)
Sec. 8. Review.
Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency

]]> By: nevermind http://thedemocraticdaily.com/2008/09/21/the-unfinished-bail-out-bill-and-some-history-of-another-crisis/comment-page-1/#comment-21209 nevermind Wed, 24 Sep 2008 18:28:06 +0000 http://thedemocraticdaily.com/?p=2907#comment-21209 Obama enough is enough your words - bail out people not wall street. We were screwed twice once on mortgage fraud and then on gas manipulation. You want my vote - take a stand OHIO Obama enough is enough your words – bail out people not wall street. We were screwed twice once on mortgage fraud and then on gas manipulation.

You want my vote – take a stand

OHIO

]]> By: Pamela Leavey http://thedemocraticdaily.com/2008/09/21/the-unfinished-bail-out-bill-and-some-history-of-another-crisis/comment-page-1/#comment-21149 Pamela Leavey Mon, 22 Sep 2008 21:18:20 +0000 http://thedemocraticdaily.com/?p=2907#comment-21149 <p>Stuart<br /><br />Where exactly do you get that Bush is not involved? His administration is involved - his appointed financial leaders are involved. <em>He IS involved</em>. <br /><br />NY Times today: "<a href="http://www.nytimes.com/2008/09/23/business/23paulson.html?partner=rssnyt&emc=rss" rel="nofollow">President Bush urged</a> the legislators to resist the temptation to add provisions that, he said, “would undermine the effectiveness of the plan.”" <br /><br />This plan does nothing - absolutely didly squat to help the home-owners and the little people hurt by this big mess and the corporate ho's get to keep all their big bonuses. <br /><br />The market dropped again today by I think 370 points - see NY Times. Maybe you see this as good plan, but the majority of the public and the Dems do not. See my post.</p> Stuart

Where exactly do you get that Bush is not involved? His administration is involved – his appointed financial leaders are involved. He IS involved.

NY Times today: “President Bush urged the legislators to resist the temptation to add provisions that, he said, “would undermine the effectiveness of the plan.””

This plan does nothing – absolutely didly squat to help the home-owners and the little people hurt by this big mess and the corporate ho’s get to keep all their big bonuses.

The market dropped again today by I think 370 points – see NY Times. Maybe you see this as good plan, but the majority of the public and the Dems do not. See my post.

]]> By: Stuart O'Neill http://thedemocraticdaily.com/2008/09/21/the-unfinished-bail-out-bill-and-some-history-of-another-crisis/comment-page-1/#comment-21146 Stuart O'Neill Mon, 22 Sep 2008 20:42:06 +0000 http://thedemocraticdaily.com/?p=2907#comment-21146 Of course I agree that a R win would be the ultimate disaster, but Bush isn't even involved in these negotiations and wouldn't have enough Wall Street knowledge to even try to give direction. <br /><br />The conversion today of Major Firms to banks rather than investment banks means more money to lend at the street level not this bullshit 20-1 leverage possible with some securities. Back to some form of basics is the name of the game. Yes stopping the foreclosure crisis is a major part of the path. I am still a believer that a major if this money will be ASSET backed. Whether someone wants to believe that it will be invested in somesort of unsecured instrument is up to them. Perhaps some of it will on a limited basis. But everyone knows that this is a RE lead recession and sooner that's addressed and the restructure of Wall Street is over the better.<br /><br />Great article on <a href="http://www.bloomberg.com/apps/news?pid=20601087&sid=aoHW3zyqTeAA&refer=home" rel="nofollow">Bloomberg</a>. Some take it as a negative that Goldman Sach's and Morgan Stanley changed business models last night and I think it's the best news in town. The last two decades of nearly unregulated, innovative bullshit on Wall Street is ending. Two decades folks starting right after the S&L bullshit. Two decades was enough for the consequences to come home.  But it was on our watch too. But most of the real shit has happened in the last 8 years. That's when the mortgage business began to rely on subprime business and Internet phone room mortgage companies became the norm rather than just a blip on the radar.<br /> Of course I agree that a R win would be the ultimate disaster, but Bush isn’t even involved in these negotiations and wouldn’t have enough Wall Street knowledge to even try to give direction.

The conversion today of Major Firms to banks rather than investment banks means more money to lend at the street level not this bullshit 20-1 leverage possible with some securities. Back to some form of basics is the name of the game. Yes stopping the foreclosure crisis is a major part of the path. I am still a believer that a major if this money will be ASSET backed. Whether someone wants to believe that it will be invested in somesort of unsecured instrument is up to them. Perhaps some of it will on a limited basis. But everyone knows that this is a RE lead recession and sooner that’s addressed and the restructure of Wall Street is over the better.

Great article on Bloomberg. Some take it as a negative that Goldman Sach’s and Morgan Stanley changed business models last night and I think it’s the best news in town. The last two decades of nearly unregulated, innovative bullshit on Wall Street is ending. Two decades folks starting right after the S&L bullshit. Two decades was enough for the consequences to come home.  But it was on our watch too. But most of the real shit has happened in the last 8 years. That’s when the mortgage business began to rely on subprime business and Internet phone room mortgage companies became the norm rather than just a blip on the radar.

]]> By: WillCJustice http://thedemocraticdaily.com/2008/09/21/the-unfinished-bail-out-bill-and-some-history-of-another-crisis/comment-page-1/#comment-21145 WillCJustice Mon, 22 Sep 2008 19:42:06 +0000 http://thedemocraticdaily.com/?p=2907#comment-21145 <strong>I am not a young man, but never in my lifetime have I seen anything as reminiscent of </strong><strong>Hoover</strong><strong>'s Great Depression as </strong><strong>America</strong><strong> today--banks failing and hundreds of thousands of Americans losing their homes.  For the first time in my lifetime, people are worried about whether the money they have in the bank is safe. </strong> <strong>This nation cannot afford four more years of Republican rule.  And there's one big reason. </strong> <strong>Forget personalities, inexperience. racism, sexism, and war hero talk.   It's the ideas that the candidates and the parties cherish that really matter.</strong> <strong>The same ideas that produced the </strong><strong>Hoover</strong><strong> Depression are alive and well in today's Republican party--no taxes for the rich, subsidies for big corporations, no government regulation by the federal government, and the supremacy of states rights. </strong> <strong>Change the name from </strong><strong>Hoover</strong><strong> to McCain to Palin on  the economy, and the answers they give are interchangeable.</strong> <strong>I’ve shortened my comments here because I know I’m blogging, but if you want to see more on this subject, go to a great website I found with the url <a href="http://www.howtotalkback/" rel="nofollow">www.howtotalkback</a>. </strong> <strong>I personally heard Rush Limbaugh say that it was his goal to undo everything that FDR did. </strong> <strong>Now it's no secret that nobody has more influence over Republican thought than Rush.  And it's no secret what Rush believes: government is bad and federal regulation is a plague. </strong> <strong>But I wonder if Rush realizes that the FDIC--a program of the federal government put in place by FDR--is the main thing right now that's keeping America from an economic collapse.</strong> <strong>One of my friends asked me why I wasn't voting Republican.  "Don't you want to keep more of your money?" </strong> <strong>My answer? </strong> <strong>If Republicans continue to rule, and they follow the </strong><strong>Hoover</strong><strong>, McCain, Palin script, AND THE BANKS FAIL, neither she nor I will have any money to keep.</strong> <strong>What we need is a President who sounds like FDR, not a </strong><strong>Hoover</strong><strong> sound-alike.  --Will C. Justice </strong> I am not a young man, but never in my lifetime have I seen anything as reminiscent of Hoover‘s Great Depression as America today–banks failing and hundreds of thousands of Americans losing their homes.  For the first time in my lifetime, people are worried about whether the money they have in the bank is safe.
This nation cannot afford four more years of Republican rule.  And there’s one big reason.
Forget personalities, inexperience. racism, sexism, and war hero talk.   It’s the ideas that the candidates and the parties cherish that really matter.
The same ideas that produced the Hoover Depression are alive and well in today’s Republican party–no taxes for the rich, subsidies for big corporations, no government regulation by the federal government, and the supremacy of states rights.
Change the name from Hoover to McCain to Palin on  the economy, and the answers they give are interchangeable.
I’ve shortened my comments here because I know I’m blogging, but if you want to see more on this subject, go to a great website I found with the url http://www.howtotalkback.
I personally heard Rush Limbaugh say that it was his goal to undo everything that FDR did.
Now it’s no secret that nobody has more influence over Republican thought than Rush.  And it’s no secret what Rush believes: government is bad and federal regulation is a plague.
But I wonder if Rush realizes that the FDIC–a program of the federal government put in place by FDR–is the main thing right now that’s keeping America from an economic collapse.
One of my friends asked me why I wasn’t voting Republican.  “Don’t you want to keep more of your money?”
My answer? If Republicans continue to rule, and they follow the Hoover, McCain, Palin script, AND THE BANKS FAIL, neither she nor I will have any money to keep.
What we need is a President who sounds like FDR, not a Hoover sound-alike.  –Will C. Justice

]]> By: John Stone http://thedemocraticdaily.com/2008/09/21/the-unfinished-bail-out-bill-and-some-history-of-another-crisis/comment-page-1/#comment-21137 John Stone Mon, 22 Sep 2008 14:27:40 +0000 http://thedemocraticdaily.com/?p=2907#comment-21137 I have heard numerous right wing nuts say that this crisis is the fault of the Bill Clinton and our Democratic Congress.Get real people, Bill Clinton has been out of office since 2000 and the Democrats have had a majority in both  the House and Senate only since January 2007.  This is   just another of the  effects of the failed Bush-Cheney Administration, in letting Corporate America run wild and unregulated!  I have heard numerous right wing nuts say that this crisis is the fault of the Bill Clinton and our Democratic Congress.Get real people, Bill Clinton has been out of office since 2000 and the Democrats have had a majority in both  the House and Senate only since January 2007.  This is   just another of the  effects of the failed Bush-Cheney Administration, in letting Corporate America run wild and unregulated! 

]]> By: Pamela Leavey http://thedemocraticdaily.com/2008/09/21/the-unfinished-bail-out-bill-and-some-history-of-another-crisis/comment-page-1/#comment-21130 Pamela Leavey Mon, 22 Sep 2008 02:58:30 +0000 http://thedemocraticdaily.com/?p=2907#comment-21130 Here's another link - <a href="http://www.democrats.com/paulsons-plunder" rel="nofollow">Paulson's Plunder</a><br /><br />Honestly I am too pissed off about this mess to even write about it in the past couple of days. The economic crisis has hit my business big time. I'm not a happy camper. Here’s another link – Paulson’s Plunder

Honestly I am too pissed off about this mess to even write about it in the past couple of days. The economic crisis has hit my business big time. I’m not a happy camper.

]]> By: Jack Bailey http://thedemocraticdaily.com/2008/09/21/the-unfinished-bail-out-bill-and-some-history-of-another-crisis/comment-page-1/#comment-21129 Jack Bailey Mon, 22 Sep 2008 02:50:15 +0000 http://thedemocraticdaily.com/?p=2907#comment-21129 The bailout isn’t a giveaway of taxpayer dollars. The government is going to buy mortgages and mortgage backed financial documents from banks and financial institutions MARKED DOWN below 40% of their original value. The government will hold collateral, residential and commercial reale state MARKED DOWN to 40% or below its original value. Foreclosed properties can be sold at bargain prices of 50% or more of its orginal value. As the economy begins to stabilize, the financial documents will increase in value. This so-called bailout is a win-win situation for most takpayers and house hunters. Even strapped homeowners will have an opportunity to readjust the their mortgages. The losers: Shareholders in financial instutions, holders of mortggage backed securities and housing speculators. The bailout isn’t a giveaway of taxpayer dollars. The government is going to buy mortgages and mortgage backed financial documents from banks and financial institutions MARKED DOWN below 40% of their original value. The government will hold collateral, residential and commercial reale state MARKED DOWN to 40% or below its original value. Foreclosed properties can be sold at bargain prices of 50% or more of its orginal value. As the economy begins to stabilize, the financial documents will increase in value.
This so-called bailout is a win-win situation for most takpayers and house hunters. Even strapped homeowners will have an opportunity to readjust the their mortgages.
The losers: Shareholders in financial instutions, holders of mortggage backed securities and housing speculators.

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