Not all, but clearly the vast majority of it. What kind of colossal idiot votes against a measure like this simply because of a partisan speech? This is a sad day for the Republican Party.
I do. And I'm willing to take the acute pain now instead of in 12 months when this bailout fails to fix the economy like the rest of them did.
I used to, but I was in Tech. I am not a "banker" I did risk managment technology support for JPMChase. I mostly helped out fixing problems with Murex.
it takes a little longer than 12 months to work out decades of credit issues...edit...especially when the people that helped create the mess (the govt) don't have a freaking clue how to get out of it. also, you do understand the govt was trying to ok the purchasing illiquid assets, correct?
http://politicalticker.blogs.cnn.com/2008/09/29/mccain-camp-says-obama-not-leading/#more-21409 LOL, so it's Obama's fault? I thought McCain was just as confident, if not MORE confident that this bill would pass. He was bragging about it, after all.
paulson has to bs a lot. today was the first time i had really seen him mad and not really caring about what others thought. he understands what is at stake more than he let's on in the media. it's not like the guy is going to start screaming fire in a crowded room if he doesn't have to.
The thing is the traders are not hurt. They make their money whether you buy or sell. As long as people are doing one of those two things, the traders make money.
Like the rest of them did? The only thing remotely similar is the S&L bailout, which by and large was generally considered to be a success. The other similar situation, in which the government didn't really opt for a bailout and instead let nature take its course, the course you are urging, was Japan's credit crunch of the 1990's. It didn't get resolved in 12 months - it was closer to 12 years.
I understand exactly what the plan is. I just don't understand how it will work beyond the next few weeks.
Yeah, it's millions of people's retirement accounts that are getting wiped out here, not a bunch of traders who were well prepared for the possibility of this happening to begin with.
