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RAIT Financial Trust Message Board

  • darnoc1111 darnoc1111 Sep 29, 2008 2:15 PM Flag

    Time to let the market work not congress

    Since this has become so very political it may be better to just let the market handle the current crises. I was all for letting the government bailout the market, but after seeing the current mess that they are making I think it is time to let capitalism work. After all why would you let those who caused this screw up try and repair it? Lack of oversight, pushing for mortgages for those who could not afford it, and a lot of other things. I think that if we let the market work we may actually get through this faster, though there may be causulties, and I will probably lose a lot of my money. Also the American people do not want this bailout, and I think that they do know the consiquences.

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    • No. Its not fair. But we made our bed when we elected a President whose primary relevant experience was bankrupting two companies.

      The problem at this point is that not doing something would be even less fair.

    • I think the answer is "Fairness" I don't think the system is fair to the American people. That's probably why some are against the bill.

    • Look to the 'press' or Media for 'who began using the 'Bailout' term'. Now in an attempt to get the public swayed, media is being asked to 'reframe' the terminology. http://biz.yahoo.com/ap/080930/bailout_all_in_a_name.html
      But of course, being the media, they find scandal in even that simple request of trying to think of the national interest.

    • You are correct, the term "bailout" is a misnomer, it was as originally proposed an asset sale from private corporations to the federal government, or a cash infusion proposal. However, who began using the description "bailout" to describe the transaction?

      If it is simply a sale of mortgages from private holders to the federal government, then it was unnecessary to require caps on executive pay, the issuance of preferred stock, and "help for homeowners" in the bill.

      Who inserted those provisions?

    • You are correct, "bail out" is a misnomer, it is actually a cash sale of assets of a private corporation to the federal government. However, who used the term "bailout" to describe the plan?

      Since it is not a "bailout" we did not need limitations on executive pay, issuance of stock to the government or need help for the "homeowners" in the bill.

      It was simply an attempt to purchase assets and set market prices for the assets at the same time. Who put all the additional conditions on the transaction?

    • gee, and he was one of the only really honest politicians in the past 50 years.

      it is unfortunate that honesty and ethical values do not seem to work well in washington.

      he has been far more of a moral shining light since leaving office. i wonder how many republican office holders spend their post-office years away from the golf course, like Jimmy has?

    • Congratulations. Seriously.

      But that doesn't mean there aren't plenty of companies, and employees of those companies, for which this is not an issue.

      How cyclic is your business? How much work do you need to do during periods when business is down in order to do business when business is up? How many business have a profile that is different than yours?

      I would guess a lot. You aren't just disagreeing with me on this one. You are disagreeing with most economists who actually study the economy and its different sectors.

      But again, you didn't answer the question. Who exactly is getting bailed out?

    • I disagree, I own a business, plenty of cash flow. I have numerous accounts with cash???
      For a Friggin Rainy Day!! Guess what today is? I can last with my employees for about 9 months.
      Do you think the government is going to Fail?
      No. Vets get there pensions, Mom gets her SSN, Welfare Moms bring on those food stamps, WIC, etc.. CASH is flowing, if you don't have cash, bring your gold and silver. Your money is good in my grocery store.
      Your paper bag does not hold water!

    • Who is being bailed out? Seriously.

      Not the banks. Two of them have gone belly up this week.

      Not the big investment houses. They longer exist.

      Not the hedge funds or the naked shorts. Action might actually punish them, but inaction actually works to their advantage.

      Not the brokerages.

      Who exactly is bailed out? Name somebody.

      This is an investment plan. If anybody is getting bailed out, its profitable businesses that may not be able to get revolving credit because of financial manipulations they had nothing to do with.

      But have it your own way. We can create worse problems than we have through inaction.

      I ask you again ... who exactly is getting "bailed out"

    • It is a bailout no matter what you think it is. That may be simplistic but it is acurate. And maybe you do not trust the people of this country, but I think that they may be right. What gurantee do we have that this bailout will work? None Lets give Congress time to do their best as they can and stop pointing fingers, or nothing will get done.

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