Should the Federal Govt. Spend $1 Trillion Bailing Out US Financial Institutions?

reefraff

reefraff

Active Member
Originally Posted by bionicarm
http:///forum/post/2772104
Come on. You're saying that your current 401K is perfectly balanced, and you've lost absolutely NOTHING regarding your bottom line? !

Try reading the post. I haven't lost a cent because I haven't sold any of it and don't plan to do so for a long time. If I sold one IRA that was bought within the last 4 years I would be up 20.4% at this exact moment in time. The 401K is up a lot more than that. So I am down something like 9% on that one this year but we have made better than 30% in a couple years too. I ain't going to cry over 9% downside in a year.
On the individual stocks I play with I am up a bit for the year even after making a couple of bad trades. Right now I am only holding one that pays less than a 5% dividend, one is paying better than 15%. Try making that at the bank. I can't work the mutual funds quite as actively as the individual stocks but there is still plenty of flexibility to take advantage of market swings if you work the account.
 
reefraff

reefraff

Active Member
Well I started out in favor of this plan but now I am somewhat against it. Of all people leftwinger Mark Cuban is the one that changed my mind. He said he was supportive of the bill but then started talking about the details and in particular how pathetic the oversight provisions are. What does it say about the deal when the democrats don't want to bring it up for a vote unless 100 Republicans are on board because the Dems don't want to take the blame for it?
 
1knight164

1knight164

Member
Originally Posted by reefraff
http:///forum/post/2773563
What does it say about the deal when the democrats don't want to bring it up for a vote unless 100 Republicans are on board because the Dems don't want to take the blame for it?

That blew my mind also. Sounds like the Dems aren't too proud of this bill either and don't want to take the full blame when things go south. There's something in this plan that's scaring them.
 
freeweights

freeweights

Member
This is not a bailout my friends. It is ransom money. There are a few rich and powerful people and large bissinesses that have the American people by the ba--s and we are all held captive by these people. We are being held hostage. If our Goverment does not pay the ransom money (and I would say there is a time limit) they will put this country on their knees. Sounds a little like terrorism to me. Bush knows that thoes people will do it if they don't get what they want, That's the reason he wants it done now. These people cant be American What American would do this to a fellow American. If they do not get just what they want and when they want it they will begine the countdown to another great Depression .Who gives these people this sort of power to cripple an entire nation?? and perhaps the entire world .sad, sad, sad.Soup lines and bread lines all over again sick aint it?
 
darthtang aw

darthtang aw

Active Member
Originally Posted by bionicarm
http:///forum/post/2773520
You obviously don't undertsnd investment strategies or how to invest for your future or retirement. If you are under 30, I'd highly suggest you start researching it, and more importantly, start puttting your own money in a retirement plan.
My brother is stock broker...
. He is one of the few doing really well this year...hence he operates my retirement. Oh he calls to let me know and get my input and concerns, but to date I am down about 6%. But the past 8 years I was up about 15-20% each year. My money has been moved to slower safer areas now, did this at the start of the year as I knew every election year the market slows down...
In 10-15 years the value of the dollar will climb back up....it always has. After the depression what was the value of the dollar 15 years later? even with inflation I will be able to live really well on my retirement. Because I am paying everything off, switching to energy saving devices such as pellet stoves instead of heating my home with Natural gas and paying that high bill. I am planning my retirement around NOT receiving social security. If I do receive it, I am better off. Please don't tell me I have no clue, obviously my plan is working, it is slowing down some, yes, but I have no worries about loosing everything....like you seem to have.
 
darthtang aw

darthtang aw

Active Member
Originally Posted by 1knight164
http:///forum/post/2773580
That blew my mind also. Sounds like the Dems aren't too proud of this bill either and don't want to take the full blame when things go south. There's something in this plan that's scaring them.

It is the earmarks they added to it. That and the fact this is just a bandaid to get them 6 months to a year. anytime you borrow money to pay for money already borrowed the chicken does eventually come home to roost. Borrowing from peter to pay paul does not solve anything, just buys you time, you still owe the money.
 
stdreb27

stdreb27

Active Member
Originally Posted by Darthtang AW
http:///forum/post/2773612
My brother is stock broker...
. He is one of the few doing really well this year...hence he operates my retirement. Oh he calls to let me know and get my input and concerns, but to date I am down about 6%. But the past 8 years I was up about 15-20% each year. My money has been moved to slower safer areas now, did this at the start of the year as I knew every election year the market slows down...
In 10-15 years the value of the dollar will climb back up....it always has. After the depression what was the value of the dollar 15 years later? even with inflation I will be able to live really well on my retirement. Because I am paying everything off, switching to energy saving devices such as pellet stoves instead of heating my home with Natural gas and paying that high bill. I am planning my retirement around NOT receiving social security. If I do receive it, I am better off. Please don't tell me I have no clue, obviously my plan is working, it is slowing down some, yes, but I have no worries about loosing everything....like you seem to have.
She was refering to inflation. Not the exchange rate.
 
1knight164

1knight164

Member
And i'm hearing that Nobel Prize winning economists are urging Congress to slow down and take their time. They think the plan stinks the way it is, but can be improved in time.
 
stdreb27

stdreb27

Active Member
Originally Posted by 1knight164
http:///forum/post/2773625
And i'm hearing that Nobel Prize winning economists are urging Congress to slow down and take their time. They think the plan stinks the way it is, but can be improved in time.
Al Gore has a nobel prize for his, global warming movie. If that tells you anything.
 
sickboy

sickboy

Active Member
And economists in the gov't and business almost always disagree with those in Academia (the ones that win nobel prizes). Theory and Practice in the field are no where close to the same.
 
stdreb27

stdreb27

Active Member
Originally Posted by sickboy
http:///forum/post/2773758
And economists in the gov't and business almost always disagree with those in Academia (the ones that win nobel prizes). Theory and Practice in the field are no where close to the same.
To a point this is true. But they did fully embrace keynes. Greenspan pretty much was a text book follower of freedman.
 
sickboy

sickboy

Active Member
Originally Posted by stdreb27
http:///forum/post/2773788
house didn't pass it...
I have to respect the republican free-marketeers for sticking to their guns on this. I thought they would abandon their ideals, but I was wrong.
So...are we gonna have a major hurricane of foreclosures that furthers the lack of money in the market?
 
stdreb27

stdreb27

Active Member
Originally Posted by sickboy
http:///forum/post/2773809
I have to respect the republican free-marketeers for sticking to their guns on this. I thought they would abandon their ideals, but I was wrong.
So...are we gonna have a major hurricane of foreclosures that furthers the lack of money in the market?
A lot of dems crossed the isle on this one and didn't vote for it either, this is a truely interesting political event.
From what I've read this wasn't going to do anything to stop forclosures. They would still foreclose. Just the govt was going to buy these junk securities. That these morgages were bundled to.
 
stdreb27

stdreb27

Active Member
Originally Posted by sickboy
http:///forum/post/2773809
I have to respect the republican free-marketeers for sticking to their guns on this. I thought they would abandon their ideals, but I was wrong.
So...are we gonna have a major hurricane of foreclosures that furthers the lack of money in the market?
I like this guys argument.
http://www.cnn.com/2008/POLITICS/09/...ef=mpstoryview
If these assets are worth something, however, private parties should want to buy them, and they would do so if the owners would accept fair market value. Far more likely is that current owners have brushed under the rug how little their assets are worth.
this is something I've said here numerous times.
The fact that government bears such a huge responsibility for the current mess means any response should eliminate the conditions that created this situation in the first place, not attempt to fix bad government with more government.Such logic, why can't the leader of the free world think like this.
 
rylan1

rylan1

Active Member
If you were an investor... would you invest in these securities right now?
The problem is that they are no longer being bought or traded and are just there sitting in a warehouse so to speak...
 
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