Comments on: Economic Consequences of the Bailout Plan http://firedoglake.com/2008/10/03/economic-consequences-of-the-bailout-plan/ Firedoglake weblog Wed, 25 Nov 2009 22:21:06 -0600 http://wordpress.org/?v=2.8.6 hourly 1 By: acquarius74 http://firedoglake.com/2008/10/03/economic-consequences-of-the-bailout-plan/#comment-1665965 acquarius74 Sat, 04 Oct 2008 14:50:25 +0000 http://firedoglake.com/2008/10/03/economic-consequences-of-the-bailout-plan/#comment-1665965 <p>Thank you, Ian.</p> <p>I must now try to follow the money. What are Carlyle Group’s investments? What are current financial endeavors of Jeb, Marvin, and Neil Bush?</p> <p>I can’t shake the feeling that the citizenry has been hustled in history’s biggest scam, and that the hustlers are those elected and appointed to guard the securities of America.</p> <p>Thank you for all your articles, one of the few sources of truth on this subject.</p> Thank you, Ian.

I must now try to follow the money. What are Carlyle Group’s investments? What are current financial endeavors of Jeb, Marvin, and Neil Bush?

I can’t shake the feeling that the citizenry has been hustled in history’s biggest scam, and that the hustlers are those elected and appointed to guard the securities of America.

Thank you for all your articles, one of the few sources of truth on this subject.

]]> By: ClusterTim http://firedoglake.com/2008/10/03/economic-consequences-of-the-bailout-plan/#comment-1665896 ClusterTim Sat, 04 Oct 2008 14:02:06 +0000 http://firedoglake.com/2008/10/03/economic-consequences-of-the-bailout-plan/#comment-1665896 <p>Pretty sad. What have the idiots of Wall Street EVER doen for Main Street America? NOTHING! yet now we have to bail them out of a hole they dug themselves. Pretty pathetic isnt it!</p> <p>JIff</p> Pretty sad. What have the idiots of Wall Street EVER doen for Main Street America? NOTHING! yet now we have to bail them out of a hole they dug themselves. Pretty pathetic isnt it!

JIff

]]> By: Ian Welsh http://firedoglake.com/2008/10/03/economic-consequences-of-the-bailout-plan/#comment-1665793 Ian Welsh Sat, 04 Oct 2008 09:21:29 +0000 http://firedoglake.com/2008/10/03/economic-consequences-of-the-bailout-plan/#comment-1665793 <p>I think if he ever gets call to account it will be for his decisions on who to live and die. I’m hearing people on Wall Street are alternately livid and scared spitless by the way he’s deciding which companies survive, which die and which get to buy up their competitors on the cheap. Particularly vicious rumors swirl that Lehman Brothers being allowed to die (which, in the way they did it, turned out to be a mistake) was payback for past grudges with the CEO, for example.</p> <p>No proof, of course, but if there is any it may come out in time.</p> <p>I’m not a fan overall.</p> I think if he ever gets call to account it will be for his decisions on who to live and die. I’m hearing people on Wall Street are alternately livid and scared spitless by the way he’s deciding which companies survive, which die and which get to buy up their competitors on the cheap. Particularly vicious rumors swirl that Lehman Brothers being allowed to die (which, in the way they did it, turned out to be a mistake) was payback for past grudges with the CEO, for example.

No proof, of course, but if there is any it may come out in time.

I’m not a fan overall.

]]> By: AYung http://firedoglake.com/2008/10/03/economic-consequences-of-the-bailout-plan/#comment-1665464 AYung Sat, 04 Oct 2008 04:27:27 +0000 http://firedoglake.com/2008/10/03/economic-consequences-of-the-bailout-plan/#comment-1665464 <p>HOW TO SAVE THE ECONOMY!!!!!!!!!!!!!!!</p> <p>Does $700 Billion dollars worth of toxic assets sound absurd to you?</p> <p>Look no further.</p> <p>What the Federal Reserve is imposing IS NOT the only way to solve this crisis. Instead of shutting Main Street out of the equation, this proposed plan lifts the heavy weight of mortgages off of homeowner’s backs temporarily while covering all mortgages (Freddie, Fannie, Bear Stearns, Lehman, WAMU, etc.).</p> <p>It’s a plan where the Government and the Homeowner work together to funnel revenue back into the economy.</p> <p>1. Revise mortgage loans at 75% of the original value, with a new 30 yr, 6.5% fixed interest rate<strong>.(Current average monthly payment: $1,389)</strong><br /> 2.The Government pays the difference of new mortgage and old for 7 years <strong>(NEW average monthly payment for YOU: $846)</strong></p> <p>3. Original debt held by Government as a second note. Then a 40 year note with payments starts after the seven years. You can pay this debt off at anytime, but can not refinance without paying down.</p> <p>It’s simple.</p> <p>It gives the economy 7 years to recover. It relieves the heavy mortgage debt on YOU. It cost CONSIDERABLY less on YOU and the Government than this $700 Bailout plan. Think about it. Less cents equals MORE SENSE!!!!</p> HOW TO SAVE THE ECONOMY!!!!!!!!!!!!!!!

Does $700 Billion dollars worth of toxic assets sound absurd to you?

Look no further.

What the Federal Reserve is imposing IS NOT the only way to solve this crisis. Instead of shutting Main Street out of the equation, this proposed plan lifts the heavy weight of mortgages off of homeowner’s backs temporarily while covering all mortgages (Freddie, Fannie, Bear Stearns, Lehman, WAMU, etc.).

It’s a plan where the Government and the Homeowner work together to funnel revenue back into the economy.

1. Revise mortgage loans at 75% of the original value, with a new 30 yr, 6.5% fixed interest rate.(Current average monthly payment: $1,389)
2.The Government pays the difference of new mortgage and old for 7 years (NEW average monthly payment for YOU: $846)

3. Original debt held by Government as a second note. Then a 40 year note with payments starts after the seven years. You can pay this debt off at anytime, but can not refinance without paying down.

It’s simple.

It gives the economy 7 years to recover. It relieves the heavy mortgage debt on YOU. It cost CONSIDERABLY less on YOU and the Government than this $700 Bailout plan. Think about it. Less cents equals MORE SENSE!!!!

]]> By: acquarius74 http://firedoglake.com/2008/10/03/economic-consequences-of-the-bailout-plan/#comment-1664912 acquarius74 Fri, 03 Oct 2008 22:34:19 +0000 http://firedoglake.com/2008/10/03/economic-consequences-of-the-bailout-plan/#comment-1664912 <p>Thank you, Adie. Years ago I put those people without conscience into a category labeled “mutants”. Any who get so pigeon-holed I will have nothing to do with.</p> <p>Yes, thanks, I am well - tough old turkey! </p> <p>May The Force be with you and all here, for always.</p> Thank you, Adie. Years ago I put those people without conscience into a category labeled “mutants”. Any who get so pigeon-holed I will have nothing to do with.

Yes, thanks, I am well – tough old turkey!

May The Force be with you and all here, for always.

]]> By: otchmoson http://firedoglake.com/2008/10/03/economic-consequences-of-the-bailout-plan/#comment-1664868 otchmoson Fri, 03 Oct 2008 22:07:21 +0000 http://firedoglake.com/2008/10/03/economic-consequences-of-the-bailout-plan/#comment-1664868 <p>My Dad (born in 1923) passed the story that one way he and his Mom dealt with the shortage of food: go to bed early, get up late, and you only had to do without 2 meals. Evidently the only staple was turnips . . . and they were prepared raw, mashed, steamed, fried, boiled. Consequently, turnips were never prepared as I was growing up. Even when Alzheimers impaired Daddy’s mind, neither Mom nor eventually healthcare professionals could ever sneak a turnip onto his plate that he didn’t refuse to eat.</p> My Dad (born in 1923) passed the story that one way he and his Mom dealt with the shortage of food: go to bed early, get up late, and you only had to do without 2 meals. Evidently the only staple was turnips . . . and they were prepared raw, mashed, steamed, fried, boiled. Consequently, turnips were never prepared as I was growing up. Even when Alzheimers impaired Daddy’s mind, neither Mom nor eventually healthcare professionals could ever sneak a turnip onto his plate that he didn’t refuse to eat.

]]> By: acquarius74 http://firedoglake.com/2008/10/03/economic-consequences-of-the-bailout-plan/#comment-1664867 acquarius74 Fri, 03 Oct 2008 22:06:47 +0000 http://firedoglake.com/2008/10/03/economic-consequences-of-the-bailout-plan/#comment-1664867 <p>Ian, do you see at any time in the future the prosecution of Henry Paulson for his part in bringing on the death of Wall Street?</p> <p>Ref: NY Times (online), article: Agency’s ‘04 Rule Let Banks Pile up Debt, and Risk 10/03/2008 by Stephen Labaton. (link is obscenely long)</p> <p>Now HE’s the man with the bag of $700 Billion to spend as his “judgment” determines. I bet that Goldman-Sach’s toxic assets get bought early on. </p> <p>When watching him testify in Senate hearings I became fascinated with his continuous hand movements - shaping, re-shaping, piling up, smoothing out, raising up, etc. Now I know exactly what that invisible matter was that he was sculpting!</p> Ian, do you see at any time in the future the prosecution of Henry Paulson for his part in bringing on the death of Wall Street?

Ref: NY Times (online), article: Agency’s ‘04 Rule Let Banks Pile up Debt, and Risk 10/03/2008 by Stephen Labaton. (link is obscenely long)

Now HE’s the man with the bag of $700 Billion to spend as his “judgment” determines. I bet that Goldman-Sach’s toxic assets get bought early on.

When watching him testify in Senate hearings I became fascinated with his continuous hand movements – shaping, re-shaping, piling up, smoothing out, raising up, etc. Now I know exactly what that invisible matter was that he was sculpting!

]]> By: Jesterfox http://firedoglake.com/2008/10/03/economic-consequences-of-the-bailout-plan/#comment-1664844 Jesterfox Fri, 03 Oct 2008 21:54:48 +0000 http://firedoglake.com/2008/10/03/economic-consequences-of-the-bailout-plan/#comment-1664844 <p>Cool, I’ll go check mine.</p> Cool, I’ll go check mine.

]]> By: acquarius74 http://firedoglake.com/2008/10/03/economic-consequences-of-the-bailout-plan/#comment-1664824 acquarius74 Fri, 03 Oct 2008 21:46:13 +0000 http://firedoglake.com/2008/10/03/economic-consequences-of-the-bailout-plan/#comment-1664824 <p>I was born in February, 1934 when the Depression was at its deepest. Mostly as a child I remember being hungry. I suggest that all read again the book, Grapes of Wrath. (Also the movie starring Henry Fonda as Tom Joad). The conditions described there are no exaggeration.</p> <p>My own children, now in early 50’s, have never known hunger or need; nor have their children. Most have learned some of my toughness, but whether they could survive if real want had to be faced, I don’t know.</p> <p>I hope that the Bush Dynasty, Cheney, all the PNACers, Henry Paulson and all their enablers burn in the hottest of Hot Hells!</p> I was born in February, 1934 when the Depression was at its deepest. Mostly as a child I remember being hungry. I suggest that all read again the book, Grapes of Wrath. (Also the movie starring Henry Fonda as Tom Joad). The conditions described there are no exaggeration.

My own children, now in early 50’s, have never known hunger or need; nor have their children. Most have learned some of my toughness, but whether they could survive if real want had to be faced, I don’t know.

I hope that the Bush Dynasty, Cheney, all the PNACers, Henry Paulson and all their enablers burn in the hottest of Hot Hells!

]]> By: Adie http://firedoglake.com/2008/10/03/economic-consequences-of-the-bailout-plan/#comment-1664786 Adie Fri, 03 Oct 2008 21:21:06 +0000 http://firedoglake.com/2008/10/03/economic-consequences-of-the-bailout-plan/#comment-1664786 <p>master of the understatement.</p> <p>sounds like us.</p> master of the understatement.

sounds like us.

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