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#250645 - 09/22/08 09:12 PM Re: About the Banking Crisis/Bailouts [Re: Still]
pufferfish Offline
Member
MaleSurvivor

Registered: 02/26/08
Posts: 6875
Loc: USA
Originally Posted By: Robbie Brown
You ever feel a bitch of a storm coming?


perfect storm

Allen

puffer


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#250685 - 09/23/08 03:23 AM Re: About the Banking Crisis/Bailouts [Re: Hauser]
Trucker51 Offline
Member
MaleSurvivor

Registered: 05/20/08
Posts: 2826
Loc: Denver, CO
Might I suggest buying gold or a gold mutual fund, like Van Eck Global's Int'l Inv. Gold Fund, which was up 7.5% yesterday. Too bad that you didn't do this a week ago. If you can't afford gold, silver is much more affordable. And I know where you can buy a quality-built 50 year-old house just 20 miles south of where you are living for under $125K, but you will have to put 30% down and have a credit score of 780 to qualify for the financing, and it is in a questionable neighborhood.

My wife is trying to get rid of her parent's old house in SW Denver and she would be willing to take a rent-to-own buyer if she can't find anyone to qualify for what she wants for the house. The house is right off of Sheridan and US 285. It has 4 bedrooms and 2 baths, and is around 2600 sq ft including the partially-finished basement. The house is in move-in condition. True, it is 50 years old, but it has all new mechanical, electrical, roof and appliances, plus it is set-up with grab bars in the baths for seniors/handicapped. On a rent-to-own she might take $187K for it. It is walking distance to major shopping, a public library, public transport, and a casino bus!

I would hurry up and buy before our monetary system and our currency collapses, and rents skyrocket. In Brazil a few years back, their currency was loosing value by half every week. And several international currency traders came out today and said that the Dollar would be "crushed" if the bailout bill passes. If it doesn't pass, an even worse scenario is possible. I am still hoping that Uncle Sam will see fit to make about a year of my house payments for me so that I can catch-up too!!!

My Iraqi Dinars are looking better every minute that this goes on!!!

Mark

_________________________
"We stay here, we die here. We've got to keep moving". Trucker Mark



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#250698 - 09/23/08 08:07 AM Re: About the Banking Crisis/Bailouts [Re: Trucker51]
Hauser Offline
Member
MaleSurvivor

Registered: 11/12/05
Posts: 2962
Loc: United States
I could afford those overpriced homes if:

I weren't taxed for anything
If I didn't buy food
If I didn't have a car to maintain or gas to buy
If I didn't have to pay for any kind of insurance

Trust me Mark, I'm not in the market for a house


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#250782 - 09/23/08 08:04 PM Re: About the Banking Crisis/Bailouts [Re: Hauser]
Hauser Offline
Member
MaleSurvivor

Registered: 11/12/05
Posts: 2962
Loc: United States
DEAR AMERICAN:

I NEED TO ASK YOU TO SUPPORT AN URGENT SECRET BUSINESS RELATIONSHIP WITH A TRANSFER OF FUNDS OF GREAT MAGNITUDE.

I AM MINISTRY OF THE TREASURY OF THE REPUBLIC OF AMERICA. MY COUNTRY HAS HAD CRISIS THAT HAS CAUSED THE NEED FOR LARGE TRANSFER OF FUNDS OF 800 BILLION DOLLARS US. IF YOU WOULD ASSIST ME IN THIS TRANSFER, IT WOULD BE MOST PROFITABLE TO YOU.

I AM WORKING WITH MR. PHIL GRAM, LOBBYIST FOR UBS, WHO WILL BE MY REPLACEMENT AS MINISTRY OF THE TREASURY IN JANUARY. AS A SENATOR, YOU MAY KNOW HIM AS THE LEADER OF THE AMERICAN BANKING DEREGULATION MOVEMENT IN THE 1990S. THIS TRANSACTIN IS 100% SAFE.

THIS IS A MATTER OF GREAT URGENCY. WE NEED A BLANK CHECK. WE NEED THE FUNDS AS QUICKLY AS POSSIBLE. WE CANNOT DIRECTLY TRANSFER THESE FUNDS IN THE NAMES OF OUR CLOSE FRIENDS BECAUSE WE ARE CONSTANTLY UNDER SURVEILLANCE. MY FAMILY LAWYER ADVISED ME THAT I SHOULD LOOK FOR A RELIABLE AND TRUSTWORTHY PERSON WHO WILL ACT AS A NEXT OF KIN SO THE FUNDS CAN BE TRANSFERRED.

PLEASE REPLY WITH ALL OF YOUR BANK ACCOUNT, IRA AND COLLEGE FUND ACCOUNT NUMBERS AND THOSE OF YOUR CHILDREN AND GRANDCHILDREN TO WALLSTREETBAILOUT@TREASURY.GOV SO THAT WE MAY TRANSFER YOUR COMMISSION FOR THIS TRANSACTION. AFTER I RECEIVE THAT INFORMATION, I WILL RESPOND WITH DETAILED INFORMATION ABOUT SAFEGUARDS THAT WILL BE USED TO PROTECT THE FUNDS.

YOURS FAITHFULLY MINISTER OF TREASURY PAULSON

(courtesy of lewrockwell.com)


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#250852 - 09/24/08 03:15 AM Re: About the Banking Crisis/Bailouts [Re: Hauser]
Trucker51 Offline
Member
MaleSurvivor

Registered: 05/20/08
Posts: 2826
Loc: Denver, CO
Just as long as they will kick-in $50K or so to be applied to my debts I am all for the bailout. If there is no benefit for the little guys, why should we all be forced to bail-out the big guys? I have heard Republicans deriding the average Joe's who bought way more home than they could afford, but whose fault is it that Treasury and the Federal Reserve approved printing-up the huge amounts of extra cash that made all of those risky loans and the great rise in home prices possible in the first place? Deregulation of the financial markets, massive outsourcing of our manufacturing jobs, the tech bubble, massive speculating on oil futures and housing, and the many factors that led to 9/11 were all the little guy's fault too, right? If a lot of us don't have jobs or jobs where pay keeps pace with inflation, it isn't any wonder that many of us can't buy houses, let alone afford to vacation or splurge on restaurant meals, credit crisis or not.

It was amazing to watch as one of the business channels today lambasted Bush's failed Presidency. He has presided over 4 huge crisises that have been poorly dealt with and led us into an expensive and unnecessary war on purposely flawed evidence, mainly to benefit the financial fortunes of a number of his close supporters. Like Senator Bernie Saunders has said, maybe they should be the ones to pay the lion's share of the cost of the bailout, if indeed one is warranted. Late today it was announced that the FBI was looking into allegations of massive fraud at a number of big financial firms including all of the most recent casualties so this thing could get really ugly yet. So far it sounds like one last attempt to raid the cookie jar one last time before the money train stops come January, and to saddle the next President with such a huge debt that no real increase in social spending will be possible for many years.

Wait and see, it's not over yet.

Mark

_________________________
"We stay here, we die here. We've got to keep moving". Trucker Mark



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#251195 - 09/26/08 09:19 AM Re: About the Banking Crisis/Bailouts [Re: Trucker51]
Trucker51 Offline
Member
MaleSurvivor

Registered: 05/20/08
Posts: 2826
Loc: Denver, CO
Three out of three so far. Who is next???

Wachovia has triple the bad mortgage debt that WaMu had.

Another Chrysler bailout possibly followed by....

General Motors???

Stay tuned.

Mark

_________________________
"We stay here, we die here. We've got to keep moving". Trucker Mark



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#251811 - 09/29/08 11:32 AM Re: About the Banking Crisis/Bailouts [Re: Hauser]
Marissa Offline


Registered: 05/06/08
Posts: 67
I (sort of) wish I knew and understood more about how all of this works.

I guess the question that comes to my mind is - why are we blaming the governement, the politicians, and whoever else instead of just going to directly to the jackass(es) that signed the loan papers giving people money when they really couldn't afford it?

Seems to me that if you lend someone money and then they can't pay you back, you're just SOL. Your loss - lend smarter next time. Close the place down and go live under a rock in a street somewhere until you manage to scrounge up a job at the local fast food chain.

And I compleetly agree with those that say they are privitizing profit and socializing loss. Complete Bullshit.


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#251814 - 09/29/08 11:41 AM Re: About the Banking Crisis/Bailouts [Re: Marissa]
M3 Offline
Member
MaleSurvivor

Registered: 09/04/07
Posts: 1392
Loc: Central Ohio
Dear President Bush, Congress and the Senate,

I could use a bailout too, and I promise that it will be much cheaper than bailing out the bank's stock holders so they don't have to down grade from their Rolls Royce to a Mercedes. So, if you can sneak me into the bailout bill, I'd really appreciate it!

Thank you!

Michael


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#251817 - 09/29/08 11:46 AM Re: About the Banking Crisis/Bailouts [Re: M3]
LN3(SS) Offline
Member
MaleSurvivor

Registered: 06/20/08
Posts: 486
Loc: MD
Let me weigh in on one part of the recent bailouts. I think this could be expanded to include the HUGE package Congress is going to consider this week.

AIG Bailout

I'm against the $85,000,000,000.00 bailout of AIG.

Instead, I'm in favor of giving $85,000,000,000 to America in a We Deserve It Dividend. To make the math simple, let's assume there are 200,000,000 bona fide U.S. Citizens 18+. Our population is about 301,000,000 +/- counting every man, woman and child. So 200,000,000 might be a fair stab at adults 18 and up.

So divide 200 million adults 18+ into $85 billon that hat equals $425,000.00.

My plan is to give $425,000 to every person 18+ as a We Deserve It Dividend.

Of course, it would NOT be tax free. So let's assume a tax rate of 30%.

Every individual 18+ has to pay $127,500.00 in taxes. That sends $25,500,000,000 right back to Uncle Sam.

But it means that every adult 18+ has $297,500.00 in their pocket. A husband and wife have $595,000.00.

What would you do with $297,500.00 to $595,000.00 in your family?
Pay off your mortgage - housing crisis solved.
Repay college loans - what a great boost to new grads
Put away money for college - it'll be there
Save in a bank - create money to loan to entrepreneurs.
Buy a new car - create jobs
Invest in the market - capital drives growth
Pay for your parent's medical insurance - health care improves
Enable Deadbeat Dads to come clean - or else

Remember this is for every adult U S Citizen 18+ including the folks who lost their jobs at Lehman Brothers and every other company that is cutting back and of course, for those serving in our Armed Forces.

If we're going to re-distribute wealth let's really do it.

If we're going to do an $85 billion bailout, let's bail out every adult U S Citizen 18+!

As for AIG - liquidate it. Sell off its parts. Let American General go back to being American General. Sell off the real estate. Let the private sector bargain hunters cut it up and clean it up.

Here's my rationale. We deserve it and AIG doesn't. Sure it's a crazy idea that can "never work." But can you imagine the Coast-To-Coast Block Party!

How do you spell Economic Boom?

I trust my fellow adult Americans to know how to use the $85 Billion We Deserve It Dividend more than I do the geniuses at AIG or in Washington DC. And remember, The Family plan only really costs $59.5 Billion because $25.5 Billion is returned instantly in taxes to Uncle Sam.

I feel so much better getting that off my chest.

Kindest personal regards,
A Creative Guy & Citizen.

Brian

_________________________
"When we go into battle, I will be the first to set foot on the field, and I will be the last to step off, and I will leave no one behind. Dead, or alive, we will all come home together." LTG Hal Moore, Jr., USA (Ret.)

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#251818 - 09/29/08 12:00 PM Re: About the Banking Crisis/Bailouts [Re: LN3(SS)]
Marissa Offline


Registered: 05/06/08
Posts: 67
Damn, Brian - have you faxed that to the White House yet?

It's the best sounding plan I've heard yet.



Edited by Marissa (09/29/08 12:00 PM)

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