What If We Tell Wall Street No?

Mike King's picture

We have a constitutional right to expect a solid separation between church and state, and I propose that we create that separation within the business community. Could it be that those distinguished statesmen/women in Washinton fear the fact that a free enterprise system could possibly still work.

It is not a function of government to continually prop up institutions, and should they fail, we know another would take its place. All the "toxic" home mortgages that seem to be at the bottom of this mess can be auctioned to the public for as little as thirty cents on the dollar and remain a bargain for both sides.

Tossing $700 billion as a crutch, at least to me, is a temporary solution. (Oh, while we're at it, could you bail me out on my credit cards and car payments?) Logically this will be the next step, and it's high time we pulled the plug on those decision makers who cannot differentiate between a credit, debit or, as Cal Beverly would say, bovine manure.

My parents endured the Great Depression as did many others of that Greatest Generation, and by God we can as well.

Tell those big shots on Wall Street that times are tough, and to get off their collective asses and go to work!

Just my two cents worth.

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Mike: Bail-out
Submitted by Nitpickers on Fri, 09/26/2008 - 4:40am.

In this particular case, I think you are correct. The money asked for by Wall Street (700 B now, but how much later?) will not come close to resolving the credit problems we have. All these local companies even would go broke and more would take their place before it was over!

If Congress wants to use that much money to solve a near depression problem, they should use it as FDR did and create jobs--good ones this time.

Let us make our own trinkets we now buy in the Orient. And Toasters!
And TVs! And, and!!!!
But don't let the prices double so that every one can still buy one.
You know: one boss only and a lot of well paid but not overpaid laborers. And a small R & D and Sales department. One eye-shade accountant. Few computers.

Maybe a bigger Army, Navy. Marine Corps, and Air Force, and Coast Guard.

Don't give it to those greedy idiots in New York or in Peachtree City.

We don't need but 2-3 banks here anyway.

You must get my point even though I went too far?

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Hey carbon,
Cyclist's picture
Submitted by Cyclist on Thu, 09/25/2008 - 5:54pm.

God is going to edit you. It's "bovine manure" Smiling

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cyclist
Submitted by Nitpickers on Fri, 09/26/2008 - 4:15am.

Carbon is correct on this one!

Forget the bail-out.
Let the market work this time.
Why?
Because the 700-1000 billion, or more, buyouts aren't going to resolve the problem anyway. It is far bigger than that!

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Cyclist,
carbonunit52's picture
Submitted by carbonunit52 on Thu, 09/25/2008 - 5:59pm.

Sometimes a unit got to say what a unit got to say. It is part of the vernacular.

"I can't wait until tomorrow, because I get more lovable every day."


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carbon,
Cyclist's picture
Submitted by Cyclist on Thu, 09/25/2008 - 6:00pm.

Say no more, I'm upset too.
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Caution - The Surgeon General has determined that constant blogging is an addiction that can cause a sedentary life style.


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Telling Wall Street No:
carbonunit52's picture
Submitted by carbonunit52 on Thu, 09/25/2008 - 5:50pm.

I feel that telling them No would be the best thing to do over the long run. It is not as if we have a bank account with 700 billion dollars in it to lend. This is all borrowed money, on top of what has already been borrowed, and the massive amount we have already borrowed for the senseless wars are the main reason that the dollar has taken a nose dive for the past eight years. What do you think the direction the value of the dollar will be after this bullshit hits the fan of economic reality? I have spent days trying to get my mind around what is going on. The size of the numbers that are being tossed around were only used in astronomy in the recent past. I believe that a new term will have to be invented to label the current administration and its supporters/enablers, because their brand of ignorance and maliciousness is in a class by itself.

"I can't wait until tomorrow, because I get more lovable every day."


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