Quote:
Originally Posted by cobra bill
They tried this same bail out just before the depression, Hoover and his cronies asked for the same bail out for the banks, and it FAILED the Japanese tried the same thing in the 80'S and it too failed, this is just to bail out the fat cats at the expense of the tax payers, been there done that got the T shirt! we should not make this mistake again.
I agree with VRM, they will not learn a thing from it, it will only give them incentive to do it all over again.
|
Cobra Bill, it is because the goverment did NOT bail out the banks that the infamous run on the banks resulted in the crash and depression. I am undecided on what should happen here. I can hardly get my head wrapped around the problem, let alone the proposed solution. These are different times (than ~1929). I rememeber the whole country freaking out when Reagan considered
loaning Chrysler 2 billion dollars (turned out good, huh?)
Investing 700billion dollars in assets worth zero dollars is something ORDERS of magnitude different. What will be the inflationary impact of printing THAT much money?
I for one will be looking at purchasing some of these "assets". So should the rest of us. Pennies on the dollar. I just want to "own" something out of this deal. There is an opportunity here.
Mike