7
   

$700 Billion BAIL-OUT Legislation

 
 
CalamityJane
 
  4  
Reply Sun 28 Sep, 2008 12:19 pm
@dyslexia,
Why dys? I mean, why are you a fan of Paulson?
cicerone imposter
 
  3  
Reply Sun 28 Sep, 2008 01:00 pm
@CalamityJane,
dys must be giving it alot of thought. LOL
dyslexia
 
  4  
Reply Sun 28 Sep, 2008 01:02 pm
@CalamityJane,
well first of all i don't have hero worship re Paulson, in fact I disagree with many of his positions, however i think he is unusally ethical as well knowlegeable. If you have any interest, I can give more specific answers.
dyslexia
 
  2  
Reply Sun 28 Sep, 2008 01:05 pm
@cicerone imposter,
cicerone imposter wrote:

dys must be giving it alot of thought. LOL
? lol
0 Replies
 
cicerone imposter
 
  2  
Reply Sun 28 Sep, 2008 01:06 pm
@dyslexia,
A "fan" but not "worship?"
hamburger
 
  1  
Reply Sun 28 Sep, 2008 05:22 pm
@cicerone imposter,
yesterday an article by an old BAY STREET FOX caught my attention ,
(BAY STREET is the little canadian brother of WALL STREET) .

the writer claims that the main risk to the U.S. economy are the DERIVATES - of which several TRILLION dollars are floating around .

i'm not enough of an expert to assess he true risk , but do see his point .

he compares the crisis to hannibal standing at the gates of rome .
the roman state confiscated all personal property and drafted every able body to fight off hannibal . in the end the roman state allowed hannibal to devaste the country-side while they stayed securly inside the walls of the city .

i'm not going to fill up much space but simpoly give the link (i have also filed the report and can post it later if you can't get free access to it) .

your comments would be appreciated as usual .
hbg

link : http://www.theglobeandmail.com/servlet/story/LAC.20080927.STBUYSIDE27/TPStory/?query=avner+mandelman

from wiki : DERIVATIVES
Quote:
Derivatives are financial instruments whose values change in response to the changes in underlying variables. The main types of derivatives are futures, forwards, options, and swaps.

The main use of derivatives is to reduce risk for one party. The diverse range of potential underlying assets and pay-off alternatives leads to a wide range of derivatives contracts available to be traded in the market. Derivatives can be based on different types of assets such as commodities, equities (stocks), bonds, interest rates, exchange rates, or indexes (such as a stock market index, consumer price index (CPI) " see inflation derivatives " or even an index of weather conditions, or other derivatives). Their performance can determine both the amount and the timing of the pay-offs.


0 Replies
 
CalamityJane
 
  2  
Reply Sun 28 Sep, 2008 08:05 pm
@dyslexia,
dyslexia wrote:

well first of all i don't have hero worship re Paulson, in fact I disagree with many of his positions, however i think he is unusally ethical as well knowlegeable. If you have any interest, I can give more specific answers.


It's because he likes snakes, isn't it? Very Happy
Fun aside, yes I would like to know more about you favoring Paulson.
I know you're very liberal and so it surprises me that you have an affinity
for Paulson.

To me, he's got a conflict of interest here, being the CEO of Goldman Sachs
prior to becoming secretary of treasury. He certainly is an intellectual and
as such he should have known better than telling us in July 2008 that
we're having a safe and sound banking system. A few weeks before Fanny
Mae and Freddie Mac went into conservatorship, Paulson had no plans
whatsoever to supply them with any capital. That changed quickly, didn't it?

Paulson is the driving force to have the US Government bailout the financial institutions who are threatened by the mortgage crisis. I think
this is fundamentally wrong and Paulson is not to be trusted.
cicerone imposter
 
  2  
Reply Sun 28 Sep, 2008 08:07 pm
@CalamityJane,
CJ, Glad to see someone in agreement with my assessment of Paulson. I owe you a drink or two.
CalamityJane
 
  3  
Reply Sun 28 Sep, 2008 08:55 pm
@cicerone imposter,
cicerone imposter wrote:

CJ, Glad to see someone in agreement with my assessment of Paulson. I owe you a drink or two.


Yeah, we should have the next gathering in San Diego! Wink
cicerone imposter
 
  1  
Reply Sun 28 Sep, 2008 08:57 pm
@CalamityJane,
Sounds great, but my traveling days are going to be reduced to one or two trips next year. In addition to paying off major renovations, I want to help our son in Austin buy a home.
0 Replies
 
dyslexia
 
  2  
Reply Sun 28 Sep, 2008 09:01 pm
@CalamityJane,
CalamityJane wrote:

cicerone imposter wrote:

CJ, Glad to see someone in agreement with my assessment of Paulson. I owe you a drink or two.


Yeah, we should have the next gathering in San Diego! Wink
we would come if we can park our rv in front of your house My brother lives in SD
CalamityJane
 
  1  
Reply Sun 28 Sep, 2008 09:04 pm
@dyslexia,
Of course dys, we have a safe place for your RV here.
0 Replies
 
JTT
 
  1  
Reply Sun 28 Sep, 2008 09:27 pm
This ain't over, nor is it gonna be over soon.

Quote:

Is the bailout needed? Many economists say 'no'
Posted on Thursday, September 25, 2008

By Kevin G. Hall | McClatchy Newspapers

WASHINGTON " A funny thing happened in the drafting of the largest-ever U.S. government intervention in the financial system. Lawmakers of all stripes mostly fell in line, but many of the nation's brightest economic minds are warning that the Wall Street bailout's a dangerous rush job.

President Bush and his Treasury secretary, former Goldman Sachs chief executive Henry Paulson, have warned of imminent economic collapse and another Great Depression if their rescue plan isn't passed immediately.

Is that true?

"It's more hype than real risk," said James K. Galbraith, a University of Texas economist and son of the late economic historian John Kenneth Galbraith. "A nasty recession is possible, but the bailout will not cure that. So it's mainly relevant to the financial industry."

The Paulson plan will get some bad assets off the balance sheets of troubled Wall Street institutions and commercial banks. That may help thaw the lending freeze.

But it wouldn't reduce the crush of homes in or near foreclosure, said Simon Johnson, a professor at the Massachusetts Institute of Technology. That's a problem that will surely grow worse if the U.S. economy enters recession, leading to greater job losses, which feed a vicious downward spiral of even more foreclosures and defaults on car loans and credit-card debt.

Americans are spooked by talk that financial Armageddon awaits.

The global financial system nearly melted down last week when investors pulled out en masse from money market funds and the short-term debt markets that help corporate America fund its day-to-day needs.

These traditionally have been viewed as safe investments for ordinary Americans, so the flight from them struck fear in the hearts of policymakers.

Few economists, including Galbraith, are willing to discount completely the chance of a financial collapse, given the turmoil in credit markets and banking.

"My sense is it will delay a disaster, given that you only have three months left in this administration. But it will not cure the problem in the (financial) industry or prevent the shakeout and downsizing of the industry," Galbraith said.

Many lawmakers also expressed skepticism.

http://www.mcclatchydc.com/227/story/53107.html

JTT
 
  2  
Reply Sun 28 Sep, 2008 09:36 pm
@JTT,
Has anyone noticed the complete disappearance of the whole Bush team, all those smart-ass neocons? Incompetence this stunning is criminal.

Grandpa and Grandma Bush must be in a constant state of acute embarrassment.

Hell, even the voluble Finnspinmeister confines himself to the back pages of A2K.
cicerone imposter
 
  1  
Reply Mon 29 Sep, 2008 11:46 am
@JTT,
Grandma and grandpa have learned to "live" with it; George has been an embarrassment for most of his life. Even pops gave up long ago.

Seniors' work with Bill on important issues is a dig towards his own son, but it goes way over his head.
0 Replies
 
squinney
 
  1  
Reply Mon 29 Sep, 2008 02:57 pm
@cicerone imposter,
cicerone imposter wrote:

Obama needs to remind McCain and Americans that Gramm is McCain's top economic's guru during the debate, and repeat what Gramm said about Americans.


The ad just ran here (NC) on msnbc drawing all of the connections.

0 Replies
 
 

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