President to discuss financial crisis.

[gimmetela]

ssia.

you can stream it on NPR
http://www.npr.org/newsinbrief/index.html

just go to the homepage.
W = putz.

[gimmetela]

did anyone listen?  thoughts?  I think that he sounded like he actually knew what he was talking about.  he does have an MBA.  I think that he should have driven home a bit more that there is a lot of money going "missing" on wall street, and that businesses that fail often send their ceo's out with a handsome "severance" package--as well as everyone else that goes down with the ship and are white collared.

I didn't like his assertion that the money would be paid back to the fed over the course of the next few years, when the economy bounces back...he seems to have forgotten how much money we owe CHINA.  this could send us economically into a downward spiral that only china can truly bail us out of.  $700 billion dollars is not the amount of money that you ASSUME that you can pay back.  that's something we should know. 

what a mess.  thank god i'm so broke that it won't really affect me.   :|

[sophist]

I thought he really simplified the problem (in terms of how financial engineering failed us).  I honestly despise this "plan" and I'm having trouble understanding how the party of the free market wants to nationalize a private business, and then claim that a profit could be made from it, and to have to audacity to tell us we will see that profit returned to us.  Guaranteeing profit in business is like guessing the number of people you will have sex with over the course of a period of time- it is inaccurate and pointless. 

[rowjimmy]

like guessing the number of people you will have sex with over the course of a period of time- it is inaccurate and pointless. 

I could do this with 100% accuracy.

[sophist]

thats because married men get zero  :-P  :wink:

[rowjimmy]

thats because married men get zero  :-P  :wink:

Shows what you know...

That's just a myth.

[sophist]

thats because married men get zero  :-P  :wink:

Shows what you know...

That's just a myth.

well I"m not married, so everything I hear about it is hear say.  So yes, I know nothing about married life.

[keeb333]

I thought he really simplified the problem (in terms of how financial engineering failed us).  I honestly despise this "plan" and I'm having trouble understanding how the party of the free market wants to nationalize a private business, and then claim that a profit could be made from it, and to have to audacity to tell us we will see that profit returned to us.

That's pretty much what I thought as I listened....I can't believe he was able to keep a straight face the whole time!  The entire idea of rewarding these greedy wall street assholes with MORE taxpayer dollars to flush down the drain is completely ludicrous.  

And wasn't there something else Bush told us that the taxpayers should invest in, but that would end up paying for itself through oil revenue?  Oh yeah, the fucking war.  Look what that shit is costing us now.

And now Bush has the nerve to ask us for another $700 billion?  He can kiss my fucking ass if he thinks I'm going to pay to bail out these mismanaged banking firms.  Fuck them and fuck Bush!  If you fuck up your business, tough shit.  Learn from your mistakes and start over.  True capitalism embraces failure as well as success, for in failure valuable lessons can be learned.

I wish that lying sack of shit and his cronies would just drop dead of heart attacks!  

[keeb333]

thats because married men get zero  :-P  :wink:

Shows what you know...

That's just a myth.

well I"m not married, so everything I hear about it is hear say.  So yes, I know nothing about married life.

yep!  just a myth!  I've gotten way more since I've been married than when I was single  :-D

(Of course, I also got married @ 21  and now I'm 31; ten years is a lot of sex!  :-D)

[gah]

keeb...much appreciation for that fit of anger. awesome. puts into words exactly how many of us are feeling.

[keeb333]

keeb...much appreciation for that fit of anger. awesome. puts into words exactly how many of us are feeling.

Well, it really pisses me off, because I'm at a stage in life where I could be directly affected by this (you know, have a decent job, starting to build up a retirement savings).  I've worked really hard to get where I am, and I don't feel that I should have to pay for the mismanagement and excesses of the Wall Street shitheads that caused the problems to start with!  The CEO's of these companies have all been raking in the cash for years.  I think that they should be held personally responsible and stripped of all wealth and assets, and put THAT money back into the businesses.  What?  They don't want to risk their own savings on possible bad investments?  They can fuck off, then, because they're not taking MINE, either!

[Hicks]

I say we give them the money if we can use their vacation homes, fast cars and trophy wives. 

[keeb333]

I say we give them the money if we can use their vacation homes, fast cars and trophy wives. 

:lol: :lol: :lol:

[Mr Minor]

I say we give them the money if we can use their vacation homes, fast cars and trophy wives. 

They should sell these off to pay off the debt. 
Or rent them out in the case of the trophy wives...

[shoreline99]

Some snippets from around the web on this:

http://www.cnbc.com/id/26857498 - Worth a quick read, "5 Lies About Paulson’s Plan" by Jim Cramer

Opinions abound when it comes to Treasury Secretary Henry Paulson’s proposed $700 billion bailout plan for U.S. banks. And a lot of them are negative. But Cramer’s a strong supporter, and he used part of Tuesday’s Mad Money to clarify what he sees as people’s misconceptions about the plan.

http://www.bloggingstocks.com/2008/09/15/what-the-financial-meltdown-means-to-you-if-youre-not-in-fin/

A good summary of what's going on for people not directly affected by the financial crunch (most of america)

Over the weekend and on Monday, the population of the country suddenly divided. On one side are average folk who aren't involved in financial markets, except for maybe their 401(k), credit card, mortgage or checking account.

and, a good summary of where we are at at the moment:

http://online.wsj.com/article/SB122235295272975207.html

I also think W did a good job of succinctly summarizing the effects on the average American and the trickle down from Wall St. I just hope they get a reasonable plan in place quickly to shore up the markets, or we could be facing the same thing that Japan faced several years back when they had a banking crisis and it could be years before we see the economy rebound to a healthy state.

Found a link to the interview i heard this morning about that: http://www.bloomberg.com/apps/news?pid=20601087&sid=aiqAL.RT7VKU&refer=home