Here We Go Again....

[ctenidae]

A Moral on finance

That's really more of a parable...

 

[Warp Daddy]

That's really more of a parable...

I stand corrected :wink:

 

[GrilledSteezeSandwich]

Things should get better once Bush is out of the white house...and the darn moneypit that is the war in Iraq is over..

 

[ComeBackMudPuddles]

Looks like Bank of America is getting another $20 billion or so from the feds for a bailout. In my experience as a former credit card customer, they do a sh^&ty job and seem to screw up everything they touch.

something tells me it wasn't their consumer credit cards that got them into this mess....

 

[andyzee]

Oh what a bunch of whiney lil babies. We have to look at grass roots problems, such as reciept checkers, how much are they paid, what do they produce?

 

[drjeff]

As long as Obama gives us all $1,000 I'm happy..

You mean as long as the folks that actually pay taxes give the government money and then the folks that WE first "hire"(elect) and then pay choose to give those of us that pay taxes back $1000(and then also give that same $$ to those that DON'T pay taxes), you'll be happy.

 

[drjeff]

Things should get better once Bush is out of the white house...and the darn moneypit that is the war in Iraq is over and alot of those funds/troops move onto Afganistan

Fixed it for 'ya there GSS

 

[ctenidae]

something tells me it wasn't their consumer credit cards that got them into this mess....

Not yet, anyway...

 

[TheBEast]

I just heard that BOA said they needed a loan "to balance their books" after buying ML. :roll: I need to balance my books after three years of grad school. Give me a bailout. :roll:

And BOA has said that they are going to use some of the money to pay a dividend to shareholders....if I read that right....

They slashed the dividend to a penny a share and the stock has dropped like a rock so shareholders aren't exactly making out in any of this. They're getting diluted if anything.

 

[GrilledSteezeSandwich]

bump

 

[andyzee]

Oh what a bunch of whiney lil babies. We have to look at grass roots problems, such as reciept checkers, how much are they paid, what do they produce?

 

[mondeo]

Oh what a bunch of whiney lil babies. We have to look at grass roots problems, such as reciept checkers, how much are they paid, what do they produce?

Oh what a bunch of whiney lil babies. We have to look at grass roots problems, such as reciept checkers, how much are they paid, what do they produce?

Today's sign of the apocalypse: inflation is so bad, what used to be worth one andyzee post now costs two.

 

[andyzee]

Today's sign of the apocalypse: inflation is so bad, what used to be worth one andyzee post now costs two.

:lol:

All kidding aside. I think initially what the government did was a good thing, They had to act quick to stop the stock market slide, once accomplished they need to provide more meaningful assistance and guidance. Some of the issues I see with what was done is:

• Money was thrown at banks to stop the credit crisis. Yet the banks made it tougher to get credit. They started raising rate and cutting back on credit, that is not helping the economy, it's helping the banks.
• Major banks such as BoA and Citi are no longer American entities, they are owned by stockholders and have holdings and business around the world.
• The government also bailed out America's big three automakers, guess what, they're about as American as Toyota or Honda.

Yes in a crisis like this government assistance and guidance is required, but it should not just be throwing money at big business, it needs concessions from them. I believe they have been moving in that direction but more needs to be done.

• Money should be given to banks to help them out in these hard times, but Americal should not be the only ones stepping up and indeed other countries have started, but we need more.
• If a bank accepts money, they should also accept terms that would allow offering of credit to the consumer easier. For God's sake, the prime rate has dropped to an all time low, yet banks are raising their rate to ridiculous levels.
• If the American government helps a business out, it should request some guarantees that jobs will be kept in this country
• Obama has the right idea with putting money into federal projects such as building roads. That kind of thinking not only got us out of the Great Depression, it also got us some damn nice Ski Resorts
• And lastly, the government should be throwing me some money, for those that don't know, I'm a freaking shopaholic. Damn, give me money, I won't save it, I will spend and spend and spend. Damn I'll do anything I can to get the economy moving again, provided I have the proper tools (American Dollars)

 

[Glenn]

A wise man once said:

Governments tend not to solve problems, only rearrange them

and

Government is not the solution to our problem. Government is the problem.

 

[ski_resort_observer]

Don't worry AZ a massive stimulus plan is in the works so you can buy more crap...will be announced soon.

Part of what BAC absorbed with the assimilation of ML, resistance is futile, is 31B in sub-prime toxic mortgages. Ken was all smiles today in front of the cameras but behind the scenes he ain't so happy.

The fun bet will be who comes back for more money first, BAC or the auto companies.

Speaking of AIG and Stowe...talked to some nice folks today at Mellon who are staying at the new Stowe Mountain Lodge. A bunch of pipes froze up so they have no heat in their units.