09-29-2008, 10:52 PM | #1 |
Join Date: Jan 2006
Location: Seattle, WA
Posts: 10,665
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Root of the mess
Keynesian economics, the very thing being employed by the bail out supporters, caused this mess. Let's mainline some heroin to cure our addiction to morphine.
http://www.cnn.com/2008/POLITICS/09/...out/index.html
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Interrupt all you like. We're involved in a complicated story here, and not everything is quite what it seems to be. —Paul Auster |
09-29-2008, 10:54 PM | #2 |
Join Date: Jan 2006
Location: Seattle, WA
Posts: 10,665
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"A bailout transfers enormous wealth from taxpayers to those who knowingly engaged in risky subprime lending. Thus, the bailout encourages companies to take large, imprudent risks and count on getting bailed out by government. This "moral hazard" generates enormous distortions in an economy's allocation of its financial resources."
If this doesn't make your blood boil what's wrong with you?
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Interrupt all you like. We're involved in a complicated story here, and not everything is quite what it seems to be. —Paul Auster |
09-29-2008, 10:57 PM | #3 | |
Board Pinhead
Join Date: Jan 2006
Location: In the basement of my house, Murray, Utah.
Posts: 15,941
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Quote:
Like I say, let's shoot 'em all, though there is something very appealing about allowing all the greedy folks on Wall Street and in DC to have to stand in line at the soup kitchen, as you've suggested.
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"The beauty of baseball is not having to explain it." - Chuck Shriver "This is now the joke that stupid people laugh at." - Christopher Hitchens on IQ jokes about GWB. |
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09-29-2008, 10:57 PM | #4 |
Demiurge
Join Date: Aug 2005
Posts: 36,368
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The market thrives on certainty.
We should make it clear that there is no bailout coming. Do what's best for your company now! Don't try and angle for public money. |
09-29-2008, 10:57 PM | #5 |
Demiurge
Join Date: Aug 2005
Posts: 36,368
|
The market thrives on certainty.
We should make it clear that there is no bailout coming. Do what's best for your company now! Don't try and angle for public money. |
09-30-2008, 12:03 AM | #6 |
Senior Member
Join Date: Nov 2007
Posts: 2,326
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Tell the CEO's and other top execs
earning over $50K, they get nothing until the taxpayer gets paid back.
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