Oppose the Beard and Bald? Then join your friends outside the NYSE! Union workers are down on Broad Street circa now chanting “no bailout!” Lots of signs reading “protect our workers,” “protect our homes” and “no blank checks for Wall Street.”
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- Use the Bloomberg command
NH BLG_DEALBREAKER <GO>
to access Dealbreaker
great reporting bess
Those people haven’t got the slightest clue as to the ramifications of what “no bailout!” means for them or the rest of the world economy.
which union? who organized?
no bailout fo rwall street
no bail out for main street
no bailout for overpaid under productive union workers.
That should make everything right in the world!
A day late and 200 miles too far North.
@2 Neither do you, considering its unprecedented. “No one understands the ramifications of what a counterparty default means to the rest of the world economy” is what I heard before and after the bear bailout….until Lehman.
vox populi, vox dei.
this is ridiculous. the people are wrong, and dumb, which is an awesome combination.
let them die of starvation for their stupidity.
Hey,
Speaking of that Cody Willard (an anchor with Fox Business is always funny when he’s yelling at bernanke & hes always trasing him on codywillard.com
hes also got a great newsletter at http://thecodyreport.net/
@2 you mean what will happen to your bonus pool, right?
awesome
@8=Cody
@2
you are right. no idea at all. kind of like a slave that just escaped. things will be tough but hey, not having that gun pointed at your head sure is nice.
also a certain satisfaction in knowing that the “masters” will fall much farther on a relative basis.
awesome
Awesome!
Instead of just Wall Street bankers they want to bring down the entire country.
Doing this will only lead to the next bailout for $1.4 Trillion.
Then we will have to repudiate the nations debt to fix it.
Awesome!
TAXPAYERS ARE GOING TO MAKE MONEY OFF OF THIS DEAL….
it’s shocking how naive they are
Check this story out. Since the ban on shorting, bookies that make markets on financials are reporting huge increases in business. Nicely done, Cox. Send it offshore or to the bookies.
http://www.independent.co.uk/news/business/news/ban-on-shorting-financialstocks-sends-betting-soaring-941482.html
@2
Canned beans taste the same whether I eat them at the kitchen table or in the bomb shelter. Screw the donkeys who got us into this mess. Let them all fail. NO BAILOUT!
I just walked through it to grab some lunch.. its a mis-mosh of anti bailout protesters and obama-supports in one of the most unorganized protests I have ever seen. Only news channel i saw there was CCTV.. go figure.
@9 banks fail, suddently the line of credit your non-bank company had was gone, your business fail, you get laid off, GDP goes way down … sounds like a great idea. Financial system is the life blood of the economy, you can’t drain it out and expect the hands, feet and the head won’t die. the country is in this together.
repost to shake some sense into you main st idiots…
Posted by merkin capital partners, Sep 25, 2008 10:27AM
Where is this main street? I think you actually mean people who work hard physically (v. mentally) as penance for having the mental capacity of my Siamese cat.
Stealing wealth my ass…In 2006, the top 5% of U.S. taxpayers, those with gross annual incomes of at least $153,500, paid about 60% of all income tax collected. In contrast, the 50% of taxpayers with incomes under $32,000, paid less than 3% of the total taxes collected.
Thanks for kicking in your 3% main street, you guys are really keeping this thing humming.
Awesome!
haha we have a pigman!
HOW DO WE KNOW THERE WOULD BE A DEPRESSION? HOW DO WE KNOW THAT THE BANKS WOULD FAIL? HOW DO WE KNOW THE VALUE OF THESE MBS BUSH TALKED ABOUT LAST NIGHT? WE DON’T.
THIS IS THE IRAQ SEQUEL. BUSH ALSO SAID THERE WERE WMD IN IRAQ. OOOPS.
22 – well put.
Bess- did take that pic with an etch-a-sketch? WTF?
People are so f*cking stupid it is incredible. It’s amazing that we even exist as a species.
haha we have a douchebag pigman!
haha we have a douchebag pigman!
It isn’t even really a protest. It’s just a bunch of people milling around. I saw lots of Obama supporters and several Paul supporters. I’m sure the NYSE will get the message and not approve the bailout.
EAT THE RICH! REVOLUTION!
@25 Are you really asking ‘how do we know banks will fail?’. Bravo. And if banks fail, depression won’t be far behind – oh sorry, we don’t know that either. Good one buddy.
If this deal passes, it will save nothing, except insure we enter into a Great Depression 2.
World will dump our debt, as they should, since we are turning into a banana republic printer.
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=anZHfo6tQi60
China has it’s own agenda to take over as world leader with the USA hurting, but still, they are a big buyer of debt, the USA can’t exist without.
http://www.marketwatch.com/news/story/china-asks-local-lenders-not/story.aspx?guid={389CCD2E-9D08-4A8B-A512-F1B3E0B0BE19}&dist=hplatest
The fact these people are protesting outside the NYSE shows how stupid they are. When did the stock exchange start underwriting MBS?
nice picture. only the best from dealbreaker.
@33-YOU’RE SO DUMB IT HURTS. THERE IS NO EVIDENCE WHATSOEVER THAT IF WE DON’T APPROVE THE BAILOUT, THAT BANKS WOULD FAIL. ALL OVER THE COUNTRY, NO ONE IS REPORTING FAILURE OR SLOWING CREDIT PROBLEMS. APPARENTLY THE ONLY ONES COMPLAINING ARE THE PEOPLE AT GS WHO MIGHT NOT GET AS FAT A BONUS. THIS IS A HYPED UP CRISIS FROM PEOPLE WHOSE AVARACIOUS APPETITES KNOWS NO BOUNDS. THERE IS NO CRISIS. WMD.
Damned if we do and damned if we don’t?
Then why bother with the bailout? Why is the prez saying it is so important and scaring the crap out of the country, again.
jesus h. christ this is incredible, but completely futile are any efforts to attempt to explain this situation to idiots.
Just remember kids, never argue with idiots, they drag you down to their level and then beat you with experience.
Write that down.
Those aren’t union goons…they are “community organizers”.
@36/FUNdamental– oh, the pic’s not good enough for you? why don’t you find it elsewhere, you whiney little bitches.
#35. Simple. They have more opportunity to have their protest covered in NY than they would anywhere else.
See.. this really says something. Everyone in finance (we’ll call us, us) thinks this should happen, because we know what the fuck we’re talking about.
Meanwhile, anyone who isn’t “us” thinks this is a government thing, proposed by Bush, and thus the rules of politics are involved. Not the case. Very simply, if we don’t get money from the gov, we are screwed.
@37 = Congratulations, you have made no point except for the fact that you don’t know how to turn off the caps lock on your crusty keyboard. Seriously though, it obviously sounds like you have some insider knowledge. Please, pray tell.
@37 – Every quarter, the Federal Reserve surveys loan officers at more than 80 large banks. The last survey, in July, found one of the broadest movements toward stricter credit standards ever reported.
About 75 percent of the banks indicated they had tightened requirements on prime residential mortgages in the past three months. Two-thirds said they had clamped down on credit cards. A similar proportion toughened criteria for small-business loans.
Credit lines on home-equity loans and credit cards are being slashed. A survey of more than 1,000 people nationwide conducted by the San Francisco group Consumer Action found that almost 10 percent had had credit card limits lowered in 2008. And rates on credit card balances are getting boosted even for customers who follow the rules.
Note that the survey came out in July, BEFORE this mess got even messier. If you prefer pictures, look at the charts accompanied in this article.
http://online.wsj.com/article/SB122235295272975207.html
But I suppose you are too stupid to even look at pictures.
@ 43
The problem, as I’ve poitned out on multiple occassions, is that for “them”, “we” were ALL responsible, when in reality, it was like 5-10% of “us” that had any real hand in our current prediciment.
I-banks overvalued MBSs on their books. Union folks should understand the benefit of overvaluing things with little economic substance.
Also, thank god we are a republic and not a democracy.
@46
cheers!
@37 you could be a little smarter by removing that thumb off the shift-key, and putting it up your you know. Ladies and gentleman on this forum, I present you the best comment I’ve seen in this forum (credit to @37): “NO ONE IS REPORTING FAILURE OR SLOWING CREDIT PROBLEMS”. Bess, follow this one – you might get a lot more T-shirt/Mug quotables.
@17: Why do you think Treasury, which is filled with a bunch of academics with no profit motive, can value securities better than private investors?
@21: Stop it with this finance is critical to the economy crap. There was no bailout after the dot-com crash and, what do you know, we still have computers and telephones and the internets, which are somewhat critical to the economy as well.
@22: Ok, so it’s redistributing wealth among the top 5%. It’s still wrong. Believe it or not, not everyone in that top 5% works in finance.
@44. Under your conspiracy theory, what does President Bush have to gain from this bailout?
@ 43 – but we’re turning the corner in the War on Civil Rights! I can smell victory…
Dick in CLT
#46. This is true. My bank did not lower my credit limit but they did call to make sure that I “could handle” my credit limit. I was a little surprised as I have purposely fought them each and every time that they wanted to raise it. It is a negligible amount in case of a real emergency. However, almost every one of my friends has had their limits slashed and some have literally been told to pay off their cards as they have frozen their ability to charge further.
You know what? I almost half wish that TARP doesn’t pass just so that I could tell these idiots I told you so. Darwinism, it’s a real doozy.
@47 (Anal)
Yeah, I’m with you. I mean I didn’t have anything on the Level III market — I think most of us are in the same boat in re: that.
Another standing issue we’ve got to look at here is that most of the American public doesn’t understand Finance (evidenced by credit card debt, etc) much less market dynamics. This is very much a “Painting the Barn” scenario, whereby if you try to petition the city council to paint your barn the entire city will have an opinion because they think they know enough to tell you what to do.
-@43
I’m about to sign up for an account — this “guest” thing is hard to track.
From Paul Kasriel at Northern Trust:
“there has been a sharp slowdown in commercial bank credit creation in recent months. After growing at an annualized rate of 22.6% in the three months ended October 2007, commercial bank credit to the private sector contracted at an annualized rate of 1.0% in the three months ended August 2008.”
@ 44, that is.
Dick
@46 1.) WELL OF COURSE CREDIT IS GOING TO GET TIGHTER. THERE WERE LOANS GIVEN TO PEOPLE THAT SHOULD NOT HAVE RECEIVED THEM IN THE FIRST PLACE. 2.) DITTO FOR CREDIT CARDS. CREDIT CARDS SHOULD NOT BE GIVEN OUT AS CANDY TO ANYONE WHO CAN FOG A MIRROR 3.) MORE IMPORTANTLY-THERE IS A LARGE DIFFERENCE BETWEEN A SLOWDOWN AND A DEPRESSION. IDIOT, BALD, BEARD TALKING OF DEPRESSION IS OVERKILL. LIKE USING A NUKE INSTEAD OF A FLY SWATTER.
4.) DESPITE THESE TIGHTER CREDIT STANDARDS YOU SPEAK OF, SINCE JULY MIND YOU, THE RESTAURANTS ARE PACKED, THE CAR DEALERSHIPS ARE PACKED, THE RETAIL OUTLETS ARE PACKED, BARS, ETC.
5.) HARDLY A SLOWDOWN OR DEPRESSION.
Here is what sucks: 9/11 causes Greenspan to keep rates low after attack and get economy going. Low rates creates housing bubble. Housing bubble facilitates the derivatives market. Derivatives market causes this whole debacle we have on our hands known as the U.S. economy.
Have the terrorists won?
lovely picture Bess!
I’m blogging you up right, here and now :
http://lacrisepourlesnuls.blogspot.com/2008/09/dmocrates-comme-rpublicains-les.html
@22: Hey I’m an arrogant elitist too, but your argument is weak. This bailout won’t be paid for with taxes, it will be paid for the only way it possibly can: with inflation. Inflation hurts the poors and the middle class much more than it hurts the top 5%.
There is a guy on one of the boards that I read who claims he is an attorney and is mad as hell that he can’t access the HELOC attached to his mortgage agreement. He claims the bank held his check, sent on time, cashed it the day after it was due and then used this as an excuse to yank his line of credit. He has said that he is thinking of suing the bank.
@44 – waited until after Labor Day when they are lame ducks and the public can’t do anything? What planet are you on? In your altered world, was the election moved from Nov 4th to Labor Day?
60- Try google search:
One of the nation’s largest car dealership chains has closed down operations, possibly forever.
The Bill Heard Chevrolet dealership in Plant City closed its doors Wednesday, along with 12 other Bill Heard dealerships across the nation. The chain, in a statement Wednesday, cited rising fuel prices, a bad economy, credit problems and inventory heavy with unpopular trucks and SUVs for its decision to close.
http://www2.tbo.com/content/2008/sep/25/na-bill-heard-dealerships-shut-down-operations/
Hard Rock Park last night filed for bankruptcy protection, with management blaming the downturn in overall consumer spending, slow tourism and limited financial resources for marketing efforts on account of global financial turmoil and frozen credit markets.
S&P LCD
@53. Well, for one, he doesn’t go down as the next Hubert Hoover, presiding over the greatest economic boom in modern history, destroying the Republican party for the next 60 years. Two, his wealthy friends can still continue to contribute to his fund raisers (yes politicans have them long after they are in office) for his library, whatever other pet projects he has in mind. Primarily, he and his social ilk gain in maintaining their social status and in monetary power. Nothing is more sad than a million/billionare losing everything and having to go back to work?
@60
Where do you live? Depression may be a strong word, but things are DEF slower than in more prosperous times.
The good folks at CNBC have been telling Jane and Joe Sixpack to pay off their debts and not to take on anymore debt. So, that is what they are doing, they are cutting back, big time. Small business will suffer first.
wsj scoops gasbags on details of the bailout -
@63
inflation is too complex a concept for these people to understand
they hear $7000 per person for the bail out and raise hell even though it will probably cost them less in taxes than what they were already given in the stimulus package
@65. In my “altered world” the Bushes can’t run for a third term. Thus, lame duck. In my “altered world”, the public can’t do anything about the phony bailout-get mad at whom? Both parties voted for the bailout. What do you do-vote for the libertarians? Constitutionalists? Oh, that will show them. Bulletproof.
@71
Inflation can be a complex concept period. The mix of Ms/Md, FX rates, and Bond parity is just too much for the average consumer to digest.
$7000 per person is a lot of money (to anyone not in NYC) — but there’s an inherent danger in looking at anything Governmental as a per person stake. A comparable error would be to say that because you own 1/2 of a Mutual Fund, and the Mutual Fund owns 1/4 of GE, you own 1/8th of GE.
-formerly known as @43.
Since we already live in some version of France getting banged in the ass by the Soviets, we might as well finish the job and elect the biggest Socialist around…I’m sure Barry Obama will fix this mess. I mean, Chicago politics are the closest thing to the Politburo we have. The analogies are endless.
The guy writing in all caps is a moron — tough to even know where to start…
How about @60…
“Car dealerships are packed”?
In August, the auto industry ended the
month with a SAAR of 13.7mm units, well below the 16.3mm sold in August 2007. While that was the first increase in SAAR this year, sales benefitted from extremely aggressive manufacturer incentives.
@17
Don’t be an idiot. Profit making levels on this would ensure bank failures. This is a BAILOUT, not a fucking profit play.
@33
Banks have failed. Without this legistlation (which should be tweaked) many more banks will fail. We will then experience a monetary contraction that will dwarf the depression. If you want to learn more about modern finanz, see CFA tests levels 1-3. Thanks.
@44
DEFCON 5 means we are at absolute peace. I believe you mean DECON 1, you dolt.
@68 EXACTLY. IF IT IS A SLOWDOWN, AND EVEN THEN, THAT IS ARGUABLE, THEN IT DOES NOT NEED A $700B MAKE BELIEVE CURE- ALL PACKAGE THAT GIVES UNLIMITED AUTHORITY TO THE TREASURY. I AM IN BANKING AND LIVE IN CHICAGO. MY CLIENTS ARE IN THE MID-WEST, MID-ATLANTIC REGIONS AND HAVE NOT EXPERIENCED, WITNESSED, MAJOR SLOWDOWNS THAT REQUIRE THIS ACTION. A FEW DEALERSHIPS, CHEESY RESTAURANT CHAINS LIKE HARD ROCK, BENNIGAN’S, AND FEW RETAILERS LIKE BOMBAY COMPANY HARDLY QUALIFY AS DEPRESSION-STOP THE PRESSES-OR RATHER CRANK THE PRINTING PRESSES-FOR $1T BAILOUT ($300B IN JULY, $700B IN SEPT). NORMAL BUSINESS CYCLE TO ME.
@75 IF PEOPLE ARE BUYING CARS-THAT’S HARDLY A DEPRESSION!! EVEN IF IT’S A SLOWDOWN FROM A YEAR AGO, IT HARDLY REQUIRES $1T HANDOUT FROM THE GOVT!!
@76. I HAVE A MBA FROM WHARTON. WHAT IS THIS CFA YOU SPEAK OF?
All caps should be neutered as part of the bail-out.
All caps should be neutered as part of the bail-out.
@ 22,
Disclaimer: This is coming from a member of the middle class whose job requires muscle mixed in with brain (i.e., the middle class).
Even though you didn’t cite it, I’m pretty confident this is your source for the figures you quoted:
http://www.ntu.org/main/page.php?PageID=6
I invite you and other readers to examine this chart. Simply put, you sir (or madam), are an idiot for basing your conclusions from a partisan website.
There is another statistic that the Obamamaniacs will throw at you that you never like to cite — despite your elite status and desire to see the less-educated starved into submission.
And here it is:
http://www.kiplinger.com/features/archives/2007/11/taxrank.html
Take note of the third column: % of all income.
So boo-hoo the top 1% and 5% pay the most in income taxes. You can afford it.
Also, who defines the middle class as under $32k? Depending on geography, it’s the folks making up the top 10% and 25%. And by my reasoning, they’re doing more than their fair share at 71% and 86%, respectively.
Dude, you do not have an MBA from Wharton. I’m of that opinion mostly because 1) you’re an idiot, and 2) you would know at an “M” is pronounced “emm” and thus you would have “an MBA” not “A MBA” — You would however have a Masters.
Go Home.
All who think 78 is a lie say ‘I’.
@77 – “NORMAL BUSINESS CYCLE TO ME.”? Another awesome quote. Pray tell me in which other normal business cycle have you have seen home price take a 25% nose dive? Wait, that did happen during the great depression no?
@52 – we have computers after dot com crash, but that only wiped out stupid companies with almost no value. Would you think we would be unaffected if IBM, Microsoft and Apple never survived? On top of that, tech companies only affect a particular sector – banks affect everything, including tech companies.
@ 22,
Disclaimer: This is coming from a member of the middle class whose job requires muscle mixed in with brain (i.e., the middle class).
Even though you didn’t cite it, I’m pretty confident this is your source for the figures you quoted:
http://www.ntu.org/main/page.php?PageID=6
I invite you and other readers to examine this chart. Simply put, you sir (or madam), are an idiot for basing your conclusions from a partisan website.
There is another statistic that the Obamamaniacs will throw at you that you never like to cite — despite your elite status and desire to see the less-educated starved into submission.
And here it is:
http://www.kiplinger.com/features/archives/2007/11/taxrank.html
Take note of the third column: % of all income.
So boo-hoo the top 1% and 5% pay the most in income taxes. You can afford it.
Also, who defines the middle class as under $32k? Depending on geography, it’s the folks making up the top 10% and 25%. And by my reasoning, they’re doing more than their fair share at 71% and 86%, respectively.
I would venture to guess most Wharton MBA grads might have an inkling as to what the CFA is…
@78 It’s not a handout. On a held to maturity basis, these assets could result in a net GAIN of trillions of dollars. This has been overlooked by most media sources. I’d encourage you to take a look at Andy Kessler’s well-written opinion piece in today’s WSJ. That is, as soon as you get a break from the drive-thru teller window at your midwest commercial bank….
Know WTF I think? I think that I don’t know WTF to think.
Confused
Know WTF I think? I think that I don’t know WTF to think.
Confused
@ 22,
Disclaimer: This is coming from a member of the middle class whose job requires muscle mixed in with brain (i.e., the middle class).
Even though you didn’t cite it, I’m pretty confident this is your source for the figures you quoted:
http://www.ntu.org/main/page.php?PageID=6
I invite you and other readers to examine this chart. Simply put, you sir (or madam), are an idiot for basing your conclusions from a partisan website.
There is another statistic that the Obamamaniacs will throw at you that you never like to cite — despite your elite status and desire to see the less-educated starved into submission.
And here it is:
http://www.kiplinger.com/features/archives/2007/11/taxrank.html
Take note of the third column: % of all income.
So boo-hoo the top 1% and 5% pay the most in income taxes. You can afford it.
Also, who defines the middle class as under $32k? Depending on geography, it’s the folks making up the top 10% and 25%. And by my reasoning, they’re doing more than their fair share at 71% and 86%, respectively.
22 You and the WSJ always conveniently focus on income taxes and leave payroll taxes out of the mix. Add them in and you will see that taxation is quite regressive.
@ALL CAPS
no you don’t. Intelligent people use data to back up claims, not ‘caps lock’.
I’m gettting an Eastern European vibe from ALL CAPS. He could be one of the doormen in my building. Anyone?
@78 PROVE IT!
@88
Key word: COULD. Not GAIN. The media has been reporting on this fact. This COULD = GAMBLE.
Know what else? Had there been stricter regulation, better laws, competent CEOs and boards, etc. this whole crisis COULD have been avoided.
@ALL CAPS
Thank you for exposing how idiotic the “anti-bailout” crowd is. Could you please share your thoughts on national TV? I am sure that’d do plenty of good for the economy.
xoxo
@97
Free Market Theory 101: impediments to a free marketplace create disastrous results.
In other words stricter regulations, NO. Better Laws? Perhaps (see Kennedy and re-write of SEC R&R ala 1930s) – Avoided, No. Downsized? Perhaps (1999 Clinton push for better housing opportunities for lower income people helped create this, via Maes)
@78
I have an MBA from a better school that is so great not even a $150m donation could name it. . .
@ All CAPS
So you are in banking. Tell me what is going to be the effect when WaMU fails -probably tomorrow. They have $310 billion in assets and will be the largest single bank failure in this country. They will also take down the FDIC when they go.
My suggestion if you do work for some midwest bank – get ready for a run on the bank, next Monday or Teusday.
Then come back and report how the “normal business cycle” is working for you.
Come back CAPS!!! SO ENTERTAINING!!!
Must have stepped out for a cocktail reception at Wharton.
F- the bailout. I want to see the anti-bailout crows get what they ask for. Sure, I won’t be upgrading to a new condo this year or next year but it would be worth it 10 fold just to see these idiots kill each other in the unemployment line riots. I will be sitting in Puerta Vallarta in the mean time living off of what’s left of last years bonus, my oil stocks, and slutty 19 year old college girls.
@104 perfect
ALL CAPS = Spineless quitter/in hiding
@104. See you there.
@104/108
Is that the rally point? Puerta Vallarta?
I’ve always wanted to own a fishing company — something laid back.
this shows the lack of knowledge most Americans have of the current situation.
Are those Wharton college girls?
@ cluless
Do you mean that not everyone should have a piece of the American dream?
But i want my super sized SUV so i can drive to Costco and buy enough super sized food to feed my 2 fat ass kids and Siamese cat spouse, while we each watch one of our 6 flat screen tv’s, in our 4000 square foot house and bitch to one another about a “wall street” bailout.
The good thing about real protests is the don’t happen much in the USA anymore. Most people are just too damm fat and too lazy to walk very far.
CAPS!
“Those people haven’t got the slightest clue as to the ramifications of what “no bailout!” means for them or the rest of the world economy.”
You don’t know have the slightest clue as to the ramifications of what the bailout means to the economy…
Go to FEDupUSA.org and read a little, then come back and say we should just pass a bailout to reward the rich bankers for ruining our country…
I make $200K per year (live in WI) and I say NO BAILOUT FOR THE PIGS!
Let our economy tank…we’ll rebuild. No more TAXATION WITHOUT REPRESENTATION!
F*CK THE PIGMEN!
I make $200K per year (live in WI) and I say NO BAILOUT FOR THE PIGS!
Let our economy tank…we’ll rebuild. No more TAXATION WITHOUT REPRESENTATION!
F*CK THE PIGMEN!
I HAVE AN MBA FROM WHARTON! YOU SHOULD BE REFERRING TO ME AS LORD GOD KING!
I make $200K per year (live in WI) and I say NO BAILOUT FOR THE PIGS!
Let our economy tank…we’ll rebuild. No more TAXATION WITHOUT REPRESENTATION!
F*CK THE PIGMEN!
@114 – Karl…pipe down…
I make $200K per year (live in WI) and I say NO BAILOUT FOR THE PIGS!
Let our economy tank…we’ll rebuild. No more TAXATION WITHOUT REPRESENTATION!
F*CK THE PIGMEN!
I make $200K per year (live in WI) and I say NO BAILOUT FOR THE PIGS!
Let our economy tank…we’ll rebuild. No more TAXATION WITHOUT REPRESENTATION!
F*CK THE PIGMEN!
What’s a union? I am a hedge fund manager.
I make $200K per year (live in WI) and I say NO BAILOUT FOR THE PIGS!
Let our economy tank…we’ll rebuild. No more TAXATION WITHOUT REPRESENTATION!
F*CK THE PIGMEN!
#112…the word “damn” is spelled with an “n” not two “m’s”. Nice outrage, though.
What’s up with St. Patricks day reference?… just because they’re drunkin white guys?…
Where is the bailout rally?… 85 Broad, Tel Aviv, or Riyadh?
@118
I’ll bury you like the last Wharton graduate I knew. . . my grandfather
@104 re rallying point: If you’re looking for a coastal town in a Spanish speaking country, Corunna might be a more appropriate.
@127
hilarious.
SPODE
@124 and similar ones. 200k in WI? You must shovel a lot of driveways.
@78
I have a GED. What is this Wharton MBA of which you speak?
Sincerely,
S&P MBS analyst
@112
yeah, if “they” make $12/hr (or whatever it is that the masses make for a living), “they” should learn to live within “their” means & if “they” give “us” fodder (i.e. their own bad mortgages) to fatten up “our” paychex, then why do “they” blame “us”?
no. not everyone moron should have a piece of the american dream. if u make $30k/yr & encumber yourself with $180k+ in debt & toys like an atv etc, u r a moron & deserve only the american nightmare.
@112
yeah, if “they” make $12/hr (or whatever it is that the masses make for a living), “they” should learn to live within “their” means & if “they” give “us” fodder (i.e. their own bad mortgages) to fatten up “our” paychex, then why do “they” blame “us”?
no. not everyone moron should have a piece of the american dream. if u make $30k/yr & encumber yourself with $180k+ in debt & toys like an atv etc, u r a moron & deserve only the american nightmare.
I am a retired mortgage broker. What is an asset backed security?
Depression hurts.
Look at the bright side, alot of shit is gonna hit ebay and craigslist
folks, these protesters represent the average American voter…scary, huh?
You people have have mentioned Darwinism several times. I’m all for it. Is this going to hurt? Probably, but I do know that shoring up failing industries is a short term solution. Even if it works years, down the road these companies are going to fail again even more spectacularly. They have to be allowed to die so that better people with better ideas can step into the gap instead of being pushed out by those with “experience” who “know better” and are only there because of a subsidy. This is the free market, this is what they preached as they acted the way they did. Beware what you wish for because very often you get it.
This is supposed to be government of the people, for the people, and by the people. So since congress reports that they are receiving 300 to 1 votes against this….get a CLUE!
If the ramifications are as bad as Bush jr says, then people are obviously letting their representatives know that they don’t really care!
What they are telling Bush and the rest of the plutocracy is that we can live without the credit and the with job losses and on and on and on. They would just as soon have that than giving up on life, liberty, and freedom.
Get a CLUE!
@77, 78
Stop embarrassing us.
-Wharton dickwad
NO BAILOUT!
Don’t make the “HAVE-NOTs” bail-out the “HAVES”
Any bank dumb enough to make a NINJA loan (no income, no job) deserves to go out of business- as does any bank dumb enough to buy one of these loans.
Let the market correct itself. That will put an end to stupid loans.
Companies come and go all the time– to bail them out, or “enable” them, is like buying more booze for an alcoholic!
Write your congressman today! Tell them you will not be voting for them again if they give your money away in a wall street bailout!
NO BAILOUT!
Don’t make the “HAVE-NOTs” bail-out the “HAVES”
Any bank dumb enough to make a NINJA loan (no income, no job) deserves to go out of business- as does any bank dumb enough to buy one of these loans.
Let the market correct itself. That will put an end to stupid loans.
Companies come and go all the time– to bail them out, or “enable” them, is like buying more booze for an alcoholic!
Write your congressman today! Tell them you will not be voting for them again if they give your money away in a wall street bailout!
NO BAILOUT!
Don’t make the “HAVE-NOTs” bail-out the “HAVES”
Any bank dumb enough to make a NINJA loan (no income, no job) deserves to go out of business- as does any bank dumb enough to buy one of these loans.
Let the market correct itself. That will put an end to stupid loans.
Companies come and go all the time– to bail them out, or “enable” them, is like buying more booze for an alcoholic!
Write your congressman today! Tell them you will not be voting for them again if they give your money away in a wall street bailout!
NO BAILOUT!
Don’t make the ‘HAVE-NOTs’ bail-out the ‘HAVES’
Any bank dumb enough to make a NINJA loan (no income, no job) deserves to go out of business- as does any bank dumb enough to buy one of these loans.
Let the market correct itself. That will put an end to stupid loans.
Companies come and go all the time– to bail them out, or ‘enable’ them, is like buying more booze for an alcoholic!
Write your congressman today! Tell them you will not be voting for them again if they give your money away in a wall street bailout!
Paulson and Bernanke lied for 2 years straight saying everything was OK, it was “contained”, and our banking system was “sound”. Now these 2 liars show up on the doostep saying that the sky is falling and if we don’t cough up a paltry 700bln the world as we know it will end. There plan is flawed and based on the only thing they know – FEAR and GREED !!!
Wall St. has acted like a bunch of drunken casino gamblers at a hot craps table that has now gone cold. All the money is gone but they refuse to sober up and accept reality. They have this “rich uncle” who can give them all the cash they need to keep the party rolling.
Our forefathers must be turning in their graves knowing that all the wars we fought and all the lives that were lost and sacrifices that were made in tha name of freedom and the American way will have been for nothing as we transform what was once a democratic free market economy into a socialist state. This plan is founded on nothing more than hope. Sounds like a great plan.
We have as a country weathered some serious downturns and this may be no different but the people who landed us here must be prosecuted not bailed out.
Let’s take the 700bln and cut the 200 million or so LEGAL CITIZENS who got a stimulus check a real stimulus check. That would jump start the economy guaranteed. Mortgages would be brought current, cars would be bought, credit card debt would be paid off, tv’s, furniture, all sorts of things would be purchased. Better than the black hole plan of hope they’re ramming down our throats now.
It turned out real well for the French Elite when the populus had reached the point of no return. Nothing is more dangerous than someone who has nothing left to lose, and we all know how eager the French are to become violent. Civilized behaviour only works well in a civilized society. Civil unrest has a way of getting out of hand with folks hangin from light poles before it is all said and done.
The paulson plan is the biggest spin story ever devised. Read between the lines and can u honestly think that this has anything to do with Main Street.
If the idea is to help the average Joe Biden, why not have private equity fund it and promise 0 capital gains and full 100% tax provision?
Why – cause any investor would know it for what it is – pure bs.
Big ben thinks that this will help create a sustainable demand in his experiment.
Yup – a 700 billion dollar experiment.
And the Street will gladly play along until it has ripped off the American tax payer once again.
Good luck
Wenger Khairy
Padedoh-In-Chief
Rembau, Malaysia
The paulson plan is the biggest spin story ever devised. Read between the lines and can u honestly think that this has anything to do with Main Street.
If the idea is to help the average Joe Biden, why not have private equity fund it and promise 0 capital gains and full 100% tax provision?
Why – cause any investor would know it for what it is – pure bs.
Big ben thinks that this will help create a sustainable demand in his experiment.
Yup – a 700 billion dollar experiment.
And the Street will gladly play along until it has ripped off the American tax payer once again.
Good luck
Wenger Khairy
Padedoh-In-Chief
Rembau, Malaysia
John McCain is now turning out to be the hero of the unwashed masses. He’s siding with the House Republicans in sinking the Paulson plan as revised yesterday morning. However, nobody knows exactly what he supports. The House Republicans say they want insurance for the bad bank loans instead of buying them, something that Paulson will not agree to. (Remember that Paulson wants a rigged price discovery to get around the mark to market accounting).
Wait a minute, according to House Republicans it was Frank & Dodd who sunk the plan last night. The unwashed masses are now ditching their new hero for Frank & Dodd.
The whole thing is such a mess that McCain is going to ask Palin to help out. She’s got some great ideas, but first she has to spend some time learning what are assets and liabilities. Someone told her it gets a little confusing when it comes to banks. That’s why she’s going to be canceling her debate next week.
The arrogance of the Wall Street crowd is exactly why they need to fail. They no longer understand that the whole basis for an economy is productive work. Something Main Street has to live with.
You may have been able to get away with ripping us off for years. But you’ve pushed us too far. There are consequences to actions. And there are a lot more of us than there are of you.
This is not a Wall Street Bailout! I am not suggesting that things were done right. I am simply pointing out where we are today. If we, as a people, do not step in and “stabilize” our US Economy, then please know, those with “liquidity” (cash) will. Do you know who has cash? I do. Foreign entities. Remember you only pay taxes if YOU MAKE MONEY. Taxes will be the least of our issues. Homeland Security? There will be none. Control the economy and you control everything. This is the bailout of the United States as we know it. Every single one of us should be insisting that this “bailout” be passed immediately. Understand that at this point it is a necessary defensive act that demonstrates “our country is not for sale.” We will step in, stabilize, arrange an orderly booking of the losses, and manage the areas that are producing. This deal doesn’t pass – and I MEAN SOON – we will have lost a world war we didn’t even know started. Worry about taxes? NO you will have to worry about what language you will need to learn! akraynor
This is ridiculous!
I am noticing all the news channels pumping the public with scare tactics just to convince the American people that this bail out is necessary.
What a load of garbage!
They keep blaming the people of this country for these problems..nevermind it was George Bush that put us in a war that costs BILLIONS..nevermind that it was Bush that blocked all proposals for alternative fuel research which allowed them to raise prices of oil to such levels that no one could afford to pay their bills AND BUY GAS FOR THEIR CARS SO THEY COULD GO TO WORK!..nevermind that it was Bush that got on T.V. and told the American people everything was fine..nevermind that Pelosi just mentioned openly that this money would NOT GO TO HELP AMERICANS THAT LOST THEIR HOMES..nevermind that
Washington Mutual (just one of many) PAID THEIR NEW CEO A 20 MILLION DOLLAR PACKAGE AND THEN TURNED AROUND TO ASK THE GOVERNMENT FOR A BAIL OUT..nevermind that this bail out legislation would go to help ALIENS to purchase foreclosed homes of AMERICANS..nevermind that the President is now trying to STEAL PUBLIC TAXPAYER MONIES TO PAY FOR PRIVATE INDUSTRIES THAT HAVE LIED AND CHEATED FOR YEARS AGAINST THE PUBLIC OF THIS COUNTRY.
Yeah..
nevermind all that..
just give King George what he wants or else we will all have to pay.
WELL WE HAVE AND CONTINUE TO PAY!!
It’s all OUR FAULT THIS MESS RIGHT?
Nothing at all to do with the government elected officials that have proven time and time again to be the real enemy to the American people!
And now..under closed and secretive doors..they try to hatch another plan to harm each and every one of us!
I say hanging is too good for them!
@22 -
All those dumb asses marching outside your office? They will be PAYING YOUR SALARY NEXT MONTH, so you might want to suck up to them big time.
Btw, your turn to serve: Chilled Evian, lemon wedges, water glasses…all on a silver tray, please. Chop chop.
Bailout means never having to say you’re sorry.
Now that our imminent downfall has been broadcast to the entire world (compliments of GWB), how long before China, Japan, S.Korea, etc. etc. make a run on the Treasury? We have lost all credibility.
yay for the nationalization of a broken industry! woot for government endorsement of shitty business practices!
neo-fascism is totally the new black!
how ’bout some equity for the tax-payers in these companies?
I’ve just got to tell everyone how incredibly ecstatic I’ve been lately. It’s so wonderful to see thousands and thousands of dumb-as-fuck financial twits thrown out on their ass. This whole crisis doesn’t affect me in the least and I’m looooovin’ it. Bring on the RUIN!!! Hahahahaha, you stupid fucks.
5% of the population earn enough to pay 60% of the taxes.
These taxes pay for your unemployed trailer park asses to get your oven ready meals each night and your tins of beer at the pool club, and pay for your inbred kids to play online video games all day instead of going to school.
Ok not all of the 5% work in finance, but I’d wager that 99% of finance jobs are in that 5%.
Sure … US Socialists…wake up. Youre in a depression/recession already… jobs are being lost, and you “No to Bailout” communist shitbags want to put so many tax dollar earners on the street, and will no doubt cry and whinge when the Govt doesnt have the tax dollars to buy your beer next year, or plug the cable into your shithole trailers…
Fucking arseholes
I wonder if those of you selling worthless paper were making $12 an hour would agree to this bailing party.
I wonder if those of you selling worthless paper were making $12 an hour would agree to this bailing party.
Did you here the news?
The new $1000 dollar bill has a picture of Bush on it.
Dear “Main Street”,
Us “Wall Street” guys have apparently acted irresponsibly; we may have screwed things up a bit giving away money to you between 2002 and 2007. You didn’t have anything to do with this mess and our problem is clearly not your problem, but since you are such a great American taxpayer, we think we have a solution to our current crisis without costing you a dime in future taxes!
I’m not sure how to put this, but do you remember the cash you pulled out of your home’s equity? We do. Please surrender it back to the bank as soon as possible and we’ll call it even.
Thanks,
“Wall Street”
what happened to the rugged individuals? Is there no John Galt among us? Where are the libertarians on this one?
@158
“”No to Bailout” communist shitbags”
oxymoron
all those who are against bailout are thinking about future,
those who are with the bailout are thinking about the past,
why should taxpayers money go to such stupid things done by some bloody basterd banks, let them suffer for their deeds.
Anyone who thinks that taxpayers won’t suffer if the bill fails is woefully under-informed.
It is unfortunate, but neccessary.