Let the Market work. And meet it's fate of headless chicken.
Bailout
Let the Market Work
Re: BAILOUT: Yes or No?
Let the Market work. And meet it's fate of headless chicken.
"Les Cons ça ose tout, c'est même à ça qu'on les reconnait"
Kentoc'h Mervel Eget Bezañ Saotret - Death feels better than stain, motto of the Breton People. Emgann!
Re: BAILOUT: Yes or No?
As much as I hate the thought of a serious and long economic depression, and what that may mean to my retirement plans and investments I've accumulated and worked for toward those goals...I hate the thought of giving a taxpayer financed blank check to these robber barons even more. Let them fleece their own company shareholders for that golden parachute, because the Got Rocks will always be first in that line no matter who the rube happens to be. The future generations don't deserve this burden.
That is an excellent letter Div A. Respectful, firm and to the point.
"He is no fool who gives what he cannot keep to gain that which he cannot lose." *Jim Elliot*
Re: BAILOUT: Yes or No?
Let us burn. Maybe we'll be better for it.
"That rifle hanging on the wall of the working-class flat or labourer's cottage is the symbol of democracy. It is our job to see that it stays there."
-Eric "George Orwell" Blair
"If the policy of the government, upon vital questions affecting the whole people, is to be irrevocably fixed by decisions of the Supreme Court...the people will have ceased to be their own rulers, having to that extent practically resigned the government into the hands of that eminent tribunal."
(Lincoln's First Inaugural Address, 1861).
ΜΟΛΩΝ ΛΑΒΕ
Re: BAILOUT: Yes or No?
What Lemur and Tuff said. Let it burn and if we have half the mettle we boast, let's wait and see what rises from the ash.
Re: BAILOUT: Yes or No?
That which does not kill...Originally Posted by TuffStuffMcGruff
I'm leaning towards the no-bailout side. There's too much coming down the pike to blow our wad now. Once the mortgage securities are dealt with, what's next? IIRC, there is approximately $700 billion in securitized credit card debt. Ford and/or GM may bite it soon, they are already asking for loans. State and local governments are struggling.
Plus, we are going to need this money to build a wall big enough for all the backs that need to put up against it.
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