Just watched Obama's speech. He is really smooth, but just wrong about the bill. It is simply a theft from the people to the powerful. Just like on FISA, Obama is with the powers-that-be.
Sad!
Posted by Nobody at October 1, 2008 02:17 PMTurkana,
I don't think you'll get a call as temp CEO. They seem to be a pretty tight, somewhat snooty group. However, After Thursday night, there'll be a fella with a track record of careless choices who may be interested in a new partner.
The odds of promotion are stellar! The salary is minimal, but the perks and opportunities for "influence" are staggering. Retirement is great, too! Be ready for a call.
Posted by DeminNewJ at October 1, 2008 03:33 PMi'm not good at perky, but i can try. if the money's good!
Posted by Turkana at October 1, 2008 03:58 PMI've been watching it and it is really sad. The rhetoric is just splendid, but in the end, with all of the talent of the Senate, they were simply unwilling to help the little guy and decided to move some more of my wealth upstream.
Over the last few days, I have put out some ideas that would have helped like funding municipal bond payoffs to get liquidity back, homeowner loan guarantees, and credit card guarantees that would have helped me and others. In the end, it is the decision of the Senate that the Senate will serve its masters and just take ten grand from me and give it to my credit card company so thsy can hound me some more and raise my rates some more.
These guys in the great suits and with flowery speech are really just street thugs who extort what little money I have left so they can continue to concentrate the nation's wealth at the top.
I tried as a citizen to petition by writing and speaking with my congressman and senators. I made no difference. The bill will pass and I will lose my money and perhaps my business and house. We are all interest serfs now.
We have truly lost our liberty and we are nothing but a banana republic. American exceptionalism is dead now we torture, we invade and steal from smaller countries, and most of all, we, as a people, are stolen from because of the greed and skill of the unitary ASP that is now in control.
I'm going to walk home now (no gas in my town) and sulk.
Posted by Nobody at October 1, 2008 04:02 PMIf we just make the Vice Presidential debates
Pay Per View.
We can solve all of our financial problems solved.
Posted by Wily Trax at October 1, 2008 04:45 PMThe problem, nobody, is that our elites talk as though their actions are helping the little guy when there's no doubt it's precisely the opposite. Their actions just keep benefitting the rich, time after time. Wealth distribution stats don't lie.
This bailout is just more of the same, and no leader raised a peep about the "bottom up" method, even though in theory it should have strengthened the bad securities as well, just as you argued.
Sorry and good luck.
Posted by euzoius at October 1, 2008 05:29 PMAnd you may also want to read the lengthy essay post by Hunter at DKos right now: No Faith and No Credit, which pretty much sounds like where you're at---it's where I am, too.
Posted by euzoius at October 1, 2008 05:55 PMThat phone call from my Mother's broker was about WaMu's bonds. They were downgraded to 'junk bonds,' and she lost money. Four months ago, I had questioned WaMu with her broker, but of course was assured they were just fine. I know nothing about investments, but I am finding out, neither do brokers.
Posted by Judith at October 1, 2008 08:57 PMRE: Alan Fishman
Nice work if you can get it. If they're looking for a $19 million patsy to fire after 18 days, I'd gladly volunteer. Hell, I'd even do it for a paltry $1 million.
Congressman Neil Abercrombie, who voted against the bailout, nailed it the other night: "We were never invited to your party in the first place, so explain it to us again why we should pick up the tab."
Posted by Donald from Hawaii at October 1, 2008 09:35 PM