The coming financial crisis

[fansince61]

Too bad no one in their right mind would ever want to live in NJ.

maybe thats why I like here so much   I can complain to anyone I want and they understand

[Diomedes]

So now the Fed bails out AIG...wtf?

bizarre times

[ATV]

This country is running on fumes.

If the Repubelicans can just.....keep it......going......a little......longer, buy a little more time, ........they just......might......extend their deceitful, disastrous, reich.

[Diomedes]

On a tangent....remember when the Bush Republicans (which is to say most Republicans) wanted to hand over management of Social Security to Wall Street?    Anyone still wanna argue it's a good idea?

[PoopyfaceMcGee]

Actually, with where the market is now, using some private investment would not be a bad idea at all.

In fact, Social Security could be a good test for improved regulation of the sector.  Honestly, with the current state of the Social Security system, it has a 99% chance of being an improvement.

[Diomedes]

Putting taxpayer money in the stock market is a bad idea.

I knew you'd support it.

[rjs246]

In fact, Social Security could be a good test for improved regulation of the sector. 

Dio, you missed the most shocking thing about FF's post. The board's most vocal capitalist is talking about industry regulation. Bob Barr would not be pleased.

[PoopyfaceMcGee]

Bob Barr can suck it.  I'm not an anarchist; I'm a capitalist.  Regulation on Wall Street is failing.  It's not that we need to throw more money or government programs at the problem... It's that the regulation already in place is a crock of shtein and needs to be overhauled.

[fansince61]

On a tangent....remember when the Bush Republicans (which is to say most Republicans) wanted to hand over management of Social Security to Wall Street?    Anyone still wanna argue it's a good idea?

I'll put my vanguard SEP plan up against soc secur anytime

[Seabiscuit36]

Morgan Stanley despite good earnings is in deep shtein right now, the market is crazy

[Father Demon]

http://www.youtube.com/watch?v=ERtDaAtkvhQ&feature=related

The financial mess is making at least a couple of guys happy.

[Diomedes]

pair that with the galveston bear and I hope we are seeing a trend in modern activism....interruption of idiotic media reports by jackasses worldwide

[rjs246]

Unreal.

Stocks swayed on both sides of unchanged throughout the session. But they spiked in the final hour on a news report that Treasury Secretary Henry Paulson is looking to create a more long-term solution to the current credit crisis, perhaps creating an independent agency to take bad loans off bank balance sheets.

So, rather than address the regulations (or lack thereof) that caused the problem, they are considering creating a government agency to just absorb the bad loans and let the companies who dished them out get off without any repercussions? That the bloody farg is wrong with people?

Corporate accountability is one of the keystones of the success of a capitalistic economy. If a company does wrong by it's customers it fails, which keeps companies acting in a way that benefits their customers, thereby benefiting themselves. This type of bullshtein completely undermines that by valuing the almighty dollar over sound financial behavior.

[Phanatic]

True fiscal conservatives everywhere should be outraged with this. It's exactly why I think he's a big government social conservative. His answer to every major crises is to create another government agency rather then make the existing ones so their freaking jobs.

See home land security... liberal conservative and an absolute disaster as he's opposite of what is needed in every way. I have hate now...

[Cerevant]

Bob Barr can suck it.  I'm not an anarchist; I'm a capitalist.  Regulation on Wall Street is failing.  It's not that we need to throw more money or government programs at the problem... It's that the regulation already in place is a crock of shtein and needs to be overhauled.

And it was those tax and spend liberals who pulled what little regulation there was apart, right?  Right?!?