A-train railing against free-market realities. Okay, so it’s not truly a free market, but there are limits to what banks receiving funds under TARP can do; limits designed to protect the American taxpayer as a senior investor (the investments are in preferred securities after all), whilst not placing excessive limits on free-market flexibility for the [...]
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This week was totally unreal. Over the course of the past 6 weeks, since the beginning of September, I have lost over 50% of my net-worth; almost all of which is in my retirement plan. On the other hand, I have been averaging my cost-basis down in Morgan Stanley, picking up another 150 shares yesterday, [...] Perhaps this plan will make Art a little happier … but I’d like to read the actual text of the bill before I make any judgments. Democrats offer alternative ‘no bailouts act’ – CNN.com WASHINGTON (CNN) — A small group of Democratic House members put together an alternative to the $700 billion financial bailout measure [...] From this morning’s Wall Street Journal: ‘No’ Votes Came From All Directions The fatal “no” votes to the financial rescue package came from a strange-bedfellows coalition of lawmakers, from the most conservative to the most liberal members of the House, with a large number of representatives from low-income districts angry that Wall Street seems to [...] Without a Bailout Plan, What Will the Cost Be? – TIME By voting down the proposed $700 billion financial bailout package — and causing a spectacular stock market rout — a majority of members in the House of Representatives made a clear statement that they didn’t want to put taxpayers on the hook for the [...] As I’m sure you’re all aware, the House of Representatives voted down the Emergency Economic Stabilization Act of 2008 (H.R. 3997) today. People have no idea how screwed we are if the EESA 2008 doesn’t get passed. “Bailout” was the worst marketing technique anyone could have chosen. The plan is not a taxpayer bailout of [...] This nation’s economy is fucked … Republicans created this mess, Republicans came up with a solution to this mess, and yet Republicans are refusing to fix this mess, even though almost every thing the members of the House that revolted asked for was included in the bill being presented and voted. What are they thinking? [...] This sounds promising. Summary of the Draft Proposal To Rescue U.S. Financial Markets – WSJ.com IMPROVING THE FINANCIAL RESCUE LEGISLATION Significant bipartisan work has built consensus around dramatic improvements to the original Bush-Paulson plan to stabilize American financial markets — including cutting in half the Administration’s initial request for $700 billion and requiring Congressional review [...] I need a transcript!!! I did agree with this statement: “I understand the frustration of responsible Americans who pay their mortgage on time, file their tax returns every April 15th and are reluctant to pay the excess costs on Wall Street,” he said. But, he added, “given the situation we’re facing, not passing a [...] |
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