Quote:
Originally Posted by TheMercenary
First the Democrats in Congress Bail out the big corps, now they are going to bail out the Automakers,
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This was Paulson's plan to save America. Now that TARP and $700billion has not solved anything, he is responding to Democratic calls (more stupidity) to bail out companies without any requirements to fix their problems. Did no one learn from 1979 Chrysler and 1981 Ford? Even NPR tonight discussed the severe medicine that saved those companies. Does everyone still worship myths from the MBA schools?
"Ford to NYC: Drop Dead" - a headline on the NY Post that actually saved NYC. Why is this poster who some called a liberal, instead, such a hardass and more conservative than even our wacko conservatives? Maybe there wacko liberals and conservatives - and then others who deal in reality?
What has become apparent: Paulson's (a George Jr man) only plan was ill conceived (in a three page memo), was only supposed to be a temporary solution, and remains the only plan on the table. Why? He and Bernanke have no idea what to do. That realization is starting to scare the many and the markets.
This sudden revelation on Wall Street combined with Intel's hours old announcement may create but another massive sell off.
Oh. Last of the banks given special exemption (deregulation) by George Jr on equity requirements - both Morgan Stanley and Goldman Sachs - may need to concede. Neither appear to be solvent enough to become a commerical bank. That would mean all five investment banks, provided George Jr liberation from equity requirements, will disappear.
Just another example of economics taking revenge on a nation who let their leaders play money games - who said "deficits don't matter". As Warren Buffet said, the only [real] tax cut is one that cuts spending. We have yet to pay for that $1trillion war. And so our illustrious leaders spend more money than any Democrat ever did AND will now use more debts to pay for that bailout. The rooster has come home to ... shit? George Jr's legacy.
Notice another example promoted by MBAs. Drill, Drill, Drill. Notice that solution also completely ignored the problem. Welcome to Paulson's latest plan. It's getting scary again.
If only Palin replaced Cheney. Then all this would go away.