These losses were expected and are the reason for the TARP program. The banks were expected to write off assets. The stocks were expected to fall. TARP was meant to keep them SOLVENT - not profitable. Accurate info, but not relevant.
You and Rush are indeed two peas in a pod - both mis-guided fools.. The policies you put forth are exactly those which have resulted in the economic collapse Bush and the Republican party have led this nation to. We cannot recover with the same mis-guided thinking that has gotten us here. The plan Obama has laid out will lead to a recovery, but be mindful it will take years, if not a decade, to recover from the Bush presidency.
Should We Really Bail Out the Big Three Automakers with $73.20 Per Hour Labor? [View article]
Apparently there are a number of pro-union folks who read this. Fact is the US auto makers make money in every market they produce in with the exception of the United States. The $78/hour should include health care and all other benefit costs associated with the employees. The amount is double what it should be and unless it changes, we'll all be driving foreign vehicles and these workers will be out of work. If that's preferable to them, then ok.
Should we bail them out? No, not with the current expense base and not without demands placed upon them to streamline their product mix. Manufacturing should move to more economical places and labor expenses should be brought into line with the actual skill associated with the jobs. In short, they need to run this like a business and not an entitlement zone for the unions.
The Main Street - Wall Street Bout, Round Two [View article]
Politicians don't get, or don't want to admit, that this is not a bail out of wallstreet but rather the American people who have been hurt by other Americans who did not live up to their obligations and pay their debts. These low-lifes are costing the majority of honest Americans significant percentages of our life's savings because they have failed to pay back the debt they promised to repay.
The bailout/rescue plan needs to take steps to protect honest Americans and at the same time ensure that those who did not meet their obligations can never again get a loan! Regulation is needed to set lending standards. I don't want to hear in the future that some poor person, or population segment, is not able to achieve the American dream. They've proved they don't deserve it by not repaying their loans and now the rest of us are paying the price!
Bringing in the FDIC to Bail Out the Bailout [View article]
Not really relavant to the cause of the mortgage failures. It wasn't people who have $100K in the bank that did not pay their mortgages and cause the financial mess we are in.
Politicians don't get, or don't want to admit, that this is not a bail out of wallstreet but rather the American people who have been hurt by other Americans who did not live up to their obligations and pay their debts. These low-lifes are costing the majority of honest Americans significant percentages of our life's savings because they have failed to pay back the debt they promised to repay.
The bailout/rescue plan needs to take steps to protect honest Americans and at the same time ensure that those who did not meet their obligations can never again get a loan! Regulation is needed to set lending standards. I don't want to hear in the future that some poor person, or population segment, is not able to achieve the American dream. They've proved they don't deserve it by not repaying their loans and now the rest of us are paying the price!
The Housing Crisis: Personal Responsibility and Wishful Thinking [View article]
Thanks for telling it like it is. The root of the majority problem is people borrowed more than they could afford and lenders provided funds to people that did not qualify and could not pay it back. Standard unethical behaviors driven by greed and to some extent an entitlement mentality.
In Defense of Jim Cramer on Bear Stearns [View article]
When watching the show and knowing that Bear is a brokerage I thought the question related to keeping his money in the brokerage account. I do think that Jim should be aware that a lot of people who watch him do so because they may not be so aware and he should have been clearer potentially in his comment.
I also think that if you're concerned about your 200 shares in any financial institution you should probably sell it and put it somewhere safer for the time being. This message is at least 6 months old now.
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Latest | Highest ratedGeneral Electric Generally Down [View article]
TARP Has Lost 40% Since Inception [View article]
Obama: Rush to Judgment [View article]
Should We Really Bail Out the Big Three Automakers with $73.20 Per Hour Labor? [View article]
Should we bail them out? No, not with the current expense base and not without demands placed upon them to streamline their product mix. Manufacturing should move to more economical places and labor expenses should be brought into line with the actual skill associated with the jobs. In short, they need to run this like a business and not an entitlement zone for the unions.
The Main Street - Wall Street Bout, Round Two [View article]
The bailout/rescue plan needs to take steps to protect honest Americans and at the same time ensure that those who did not meet their obligations can never again get a loan! Regulation is needed to set lending standards. I don't want to hear in the future that some poor person, or population segment, is not able to achieve the American dream. They've proved they don't deserve it by not repaying their loans and now the rest of us are paying the price!
Call it what it is!
Bringing in the FDIC to Bail Out the Bailout [View article]
Politicians don't get, or don't want to admit, that this is not a bail out of wallstreet but rather the American people who have been hurt by other Americans who did not live up to their obligations and pay their debts. These low-lifes are costing the majority of honest Americans significant percentages of our life's savings because they have failed to pay back the debt they promised to repay.
The bailout/rescue plan needs to take steps to protect honest Americans and at the same time ensure that those who did not meet their obligations can never again get a loan! Regulation is needed to set lending standards. I don't want to hear in the future that some poor person, or population segment, is not able to achieve the American dream. They've proved they don't deserve it by not repaying their loans and now the rest of us are paying the price!
Call it what it is!
In Spite of Rally, Financials Not yet out of the Woods [View article]
The Housing Crisis: Personal Responsibility and Wishful Thinking [View article]
In Defense of Jim Cramer on Bear Stearns [View article]
I also think that if you're concerned about your 200 shares in any financial institution you should probably sell it and put it somewhere safer for the time being. This message is at least 6 months old now.