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Friday, September 26, 2008

Comments

They came out with a poll today saying that only 11% oppose the bailout. All the "conservative" radio shows are calling for this great bailout plan to go forward. What is going on here?

http://www.guardian.co.uk/business/2008/sep/26/executivesalaries.wallstreet

Goldman and Morgan Stanley will spend 40B for this year's bonuses. They have the money to fix the problem they created. No bailout.

The $700 billion is simply the largest theft in the history of mankind.
Paulson is going to force you, at the point of a tax-collector's gun,
to hand over more than $5,000 to banks who gambled and lost. To his
friends. It's horrifying.

Our representative democracy has completely failed. Our representatives
are representing the banks, not us

they are going to pass this bill regardless of widespread opposition. is it because they know something we the public don't? the least they could do is tell us why they are going against the will of their constituents.

I have tough time believing that Paulson and company are working in public interest here. Though I am not positive, I would not be surprised if Bush/Paulson is resorting to fear mongering mainly for the interests of the few. This is the same Bush administration who knowingly mislead to the country that Iraq had WMD to make their case for the invasion.

I always expect politicians to hit newer and newer lows. However, Paulson managed to shock me by his sheer arrogance when he proposed the 700B deal with blanket authority and then had the audacity to try to oppose anything for taxpayers in return.

You are telling me such a guy can be concerned for the masses. I dont think so!!

PK, SFO

I can smell a Jeffersonian revolution brewing.

The federal reserve has cut the amount of temporary borrowing available to the banks in half during the past week.

This statistic is published by the New York federal reserve: http://www.gmtfo.com/reporeader/OMOps.aspx

Paradoxically, the fed is selling Treasuries at unheard of low interest rates that are effectively zero.

If the fed can sell treasuries at half a percent yield why is it curtailing temporary borrowing by banks?

Is the fed making things worse on purpose?

Credit will be available at the right interest rate.

Citigroup got rid of their toxic assets let the market correct itself. The fed cannot be trusted to regulate itself.

Listen to Marcy Kaptur and Thaddeus McCotter and vote no to the bailout.

We have always had this corruption for decades. Our owners, scuse me, leaders have always been lining their pockets on our dime; it's just that this is so massive and much too big to hide; kind of like King Kong just strolling through Manhattan.

Honestly, I think that if everyone voted for Ron Paul, he still wouldn't have won. We are all owned by our government and we will continue to be until "we the people" stand up and start a revolution!

Alas,

We are in a negative feedback loop. Bank losses mean lower capital, lower capital means banks must reduce assets, illiquid assets must sold at firesale prices and drive more losses. Lather, rinse repeat.

If this feedback loop is not arrested, we could be in for a depression worse than the 1930's.

The problem is that we live in an unregulated society that inevitably leads to too much power in too few hands. While I believe in capitalism, it should not be so unfettered that special interests can buy government and media. "Absolute power corrupts absolutely"

If there is a crime here, it is that the compliant corporate media disseminates dogma that a gullible and titillated public laps up without question. No serious discussion that we are a declining empire and need to learn modesty.

The bailout is simply a symptom of the fact that we are hitting the wall. It is a moral hazard but also necessary to slow down this negative feedback loop and
avoid a disaster.

Our cure will be complete when we can set aside our hubris and politicians can publicly acknowledge that we are no longer the world's dominant superpower.

Does anyone know why the Federal Reserve stopped publishing the M-3 money supply figures over 2 years ago?
http://www.newyorkfed.org/aboutthefed/fedpoint/fed49.html

Did they realize they lost control of the money supply?

Congress should answer to the citizens why they allowed their constitutional right and duty to control the currency to be taken over by the executive branch in the form of a corporation known as the Federal Reserve.

The Federal Reserve is not Federal and it has no Reserves!

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