September 14, 2008

HousingPANIC Stupid Question of the Day

Should you, the taxpayer, bail out the fools who made stupid decisions at:

1) GM
2) Lehman
3) WaMu
4) Ford
5) United Airlines
6) Merrill Lynch

Bonus: Are we done with the bailouts, or are we still just getting started?


christiangustafson said...

Bailouts are over!

Got puts?

Yoski said...

Yes, bail everybody out. Hey uncle Sam, while you're at it, I could use a cool million. Screw it, make that a billion.
Eventually international investors (OPEC, China to name a few) will lose confidence and trillions of dollars are flooding back into the US. On top of that you will have the US government printing up a bunch of money to finance the deficit & bailouts 'cos nobody in their right mind will loan them any more money. We'll have hyperinflation on our hands. If you're hedging against deflation you'll be toast. PM sells at bargain prices right now, last call.

consultant said...

If McCain/Palin gets elected, the faucet will open even wider.

The Republican Party (not most Republican voters) wants to win to get power. It doesn't care about governing. They'll use the power to continue to enrich their corporate friends.

Crony capitalism.

Anonymous said...

I can't believe we are bailing out another crooked investment bank.


help save wamu said...

But what about my retriement fund? I work at wamu as a loan officer and I'm having a hard time right now.I pity all the fools who took out arms, neg am, and option payment loans.They are calling me looking for help.all I can tell them is you signed on the bottom line.Please help support our company by buying our 5% cds so we can stay affloat and I can retire in 2 years.

Anonymous said...

Socialism for the rich and the big corporations. Everyone else can enjoy capitalism.

Meet your new boss. Same as the old boss.

Anonymous said...

As GM goes so goes the country

i've had it said...

no bailouts for anyone! and prosecute the folks in those companies who created this disaster.

re: what Consultant said: don't be stupid, the Dems will bailout much more than the Repubs. In fact, they are salivating over nationalizing another industry in this country. you are showing you are politically naive. just look at what Barney Frank has been doing on the Finance Committee, driving the various bailouts and rubber-stamping everything that comes out of the Treasury.

Anonymous said...

We should of got rid of Congress and the Senate before it was to late . Freddie and Fannie was the real prize that the powers wanted to get their hands on . This was a way to throw all the bad loans and debt to the taxpayers while having a means to give easy money and bogus re-writes in the future .Biggest Obstruction of Justice I have ever seen.
All the investors would of sued the US investment firms and Lenders.Contracts aren't valid if
they are fraudulent ,or a defective product .Can't sue if your made whole again by the taxpayers . We would of seen the biggest lawsuits in History ,and the natural order of the Judicial system being the remedy has been averted . No arrests ,crime does pay.

Anonymous said...


And just getting started.

the moral hazard was created when bear was bailed out. it was reinforced when fannie and freddy were bailed out. bailout is now the expectation and decisions at large companies are being made with the expectation that there is a government bailout waiting for them if they fail.

I wish my small company could get a bailout if I made some poor decisions. I guess I just need to grow it so that it is too large to let fail.

Anonymous said...

If McCain/Palin gets elected, the faucet will open even wider.


take this horsesh*t over to americapanic (or whatever the new blog is). obama will open the faucets wide too.

Anonymous said...

When GMAC calls to offer me 'special deals' about my current paid-up-mortgage, I figure I'll offer them about .02 on the dollar.

Think I'm too optimistic?

Stuck in So Pa said...

There was an article today on MSM that WAMU charges $2 a visit to talk to a teller in one of their branches. Depositors are allowed 2 free visits per month, after that they pay for all. In other words, 1-2 visits to the bank = 0, 3 visits = $6, 4 visits =$8, and so on.


Keep pounding those nails in your own lid.

The Housing Bubble Ate My Balls. said...

Solve all the problems at once!

Bail it all out!! Alphabet Agencies Anyone?

In return every American, thanks to the government gets a job (no choice, you do what you are assigned), a place to live, transportation, food, clothing, and electricity rations, medical care, education, retirement. (social security is eliminated and the trust fund is applied to the debt).

In return, every American pays a flat tax on income of 100% directly deducted from their "pay check", no deductions, exemptions, or tax refunds.

Abolish the corporate income tax but, in return corporate assets fall under the management of the NCPT (National Commerce & Productivity Department). Every company must meet government production and hiring quotas. Outsourcing is forbidden by law as is the importation of all goods and services. The goal becomes to cover national ration quota requirements, any excess is sold on foreign markets at prices unbeatable by any other world producer. This is applied to the debt.

The Nation's energy infrastructure falls under the authority of the NDOEMPD (National Department of Energy Management, Production, & Distribution, Formerly the department of energy, Nuclear Regulatory Agency, etc) The Government mandates drilling for oil everywhere takes over the nation's drilling and refining. any any wildlife that could be impacted is rounded up and added to national food stocks (McCaribou anyone). The government collects any and all revenues / profits when excess supply (once required national ration quotas are met) from foreign sales. These are applied to the debt.

Any and all natural resources anywhere fall under the Department of Interior and The National Park System and Department of Agriculture, which is transformed into the NDONRPM "National Department of Natural Resource Production & Management ". They manage the production of natural resources on all public and private lands (and again, any and all edible wild life is added to the national food supply). All possible rivers are damned for electricity production. Natural resources in excess of national quotas are sold on foreign markets for profit.

Eliminate Welfare, Social Secutiry and insurance companies, auto, health, life, home, etc. The government becomes the safety net, all persons are "made whole" regardless of hardship. This will be called the CNWDD (Citizens National Welfare & Defense Department). This can be expected to be relatively small as each person is guaranteed a job, food, transportation

Eliminate all retail outlets for food, clothing, etc. Centralize and privatize distribution of food and all consumer goods, put Walmart in charge as they are best positioned. Walmart becomes the NFCGDA (National Food & Consumer Goods Distribution Authority)

Money and banks are replaced by the NBDMD (National Bank and Debt Management Authority, The Federal Reserve and Treasury now become the nation's banker), Currency, credit cards, bank accounts are replaced by a national id card that Americans swipe at the NFCGDA (Walmart), instead of debiting a bank account it debits each American's ration allotment. No proof of citizenship, No ID Card! (immediately send 12-21 million illegals running for the borders.)

All civilian first responders (police and fire), The Department of Defense, FEMA, Depart of Homeland Security, Courts, Penal System, FBI, and CIA are folded into the NSDLEDMIF (National Self Defense Law Enforcement Disaster Management & Intelligence Force) The Intelligence part will be both foreign and domestic. Conscription will be used to fill it's ranks.

The House and Senate become the NPPMA (National Precinct Productivity Management Authority)

The Health Care System, Surgeon General's Office, FDA, Health and Human Services become the NHWA (National Health and Wellness Authority). Along with maintaining the Health Care Infrastructure they are also responsible for the management of each citizen's health care allotment, and adherence to national fitness guidelines (in which things like cholesterol levels, body fat indexes, drinking and smoking cessation are managed and enforced).

The public and private educational systems are rolled up into the NEYA (National Education & Youth Authority). NEYA will be responsible for Pre-School thru Post Graduate education, and vocational skills training. The Authority will also be responsible for child care and after school programs. Beyond the function of education NEYA will be responsible for the evaluation and selection of Youth to be trained and educated in order to meet workforce demands and instill "National Pride" starting at a young age.

Transportation Infrastructure and Manufacturing will fall under the management of the NLTA (National Logistics & Transportation Authority). The NLTA will be comprised of Detroit's Big 3 and all transportation related manufacturing, Amtrack, National Highway Traffic Safety Administration, State and Local Departments of Highway and Transportation, Trucking, Rail, and Bus Companies. Ownership of personal vehicles will be limited and tightly controlled. Personal transportation will be replaced by the national public transportation system.

Fannie Mae, Freddie Mac, Federal Housing Authority, Housing and Urban Development, etc become the NHA (National Housing Administration) responsible for assigning domiciles to citizens and constructing new multifamily housing units. Single family homes will be tightly allocated, no longer constructed and in many cases demolished to make way for multifamily buildings and to reuse or sell of their materials.

The GDP is abandoned for the NDPPI, "National Debt Payoff & Productivity Index". The NDPPI becomes the single goal for the country, constantly updated, it televised, on electronic billboards, and announced on radio. So that all Americans are constantly aware of the tally, never loose sight of it and keep their productivity up.

It'll Work!!!

"Communism, The New Capitalism!"

SeattleMoose said...

Is this a trick question?

k.w. - Southern Ca. said...

No amount of tax payer dollars will fix this problem - it will only lead to lower purchasing power, and a much lower living standard for many Americans.

However, our system has always relied on those who earn money honestly to pay for those who don't.

When that scheme stops working, our system no longer functions - we are seeing just the beginning of that now.

Agent 99 said...

Dear the housing bubble ate my balls,

Finally, someone with a specific plan.

Hey, you don't work for Obama do you?

Anonymous said...

What happens when these companies start to show a profit again? Privatization??

consultant said...

I've had it said..

Get a better handle.

Barney Frank is an idiot. There are others in the Democratic Party. But their numbers are small compared to the THOUSANDS of idiots, criminals, lobbyists and fanatics who have wrecked this country over the last 8 years as Republicans (say hello to Bush/Cheney who have destroyed this country).

Hear this Mr. said, I know a lot of Republicans who are mad as hell over what has become of the Republican Party, and they don't see McCain/Palin as a move that will return the Party to its traditional positions.

Anonymous said...

No, the disgusting unions (Democratic party base) should bailout automakers and airlines. No more high school dropouts earning six-figure salaries to press button on machines. Are you happy now greedy and retarded unions?

Anonymous said...

"Communism, The New Capitalism!"
Yeaaaa....right. Now face Washington D.C., bow, and beg your Libertarian overlords for forgiveness.

All hail the Libertarian New World Order.

War is Peace.

Peace is War.

Debt is Wealth.