Why is the Senate Debating the Bailout

[Navy1960]

Buffet is making a killing on this, because he is buying up stuff for way cheap while others are panic selling



btw, if you think THIS bill is full of crap, it ws full of crap in the house too

GE today announced plans to offer at least $12 billion of common stock to the public. The underwriters will have a 30-day option to purchase shares representing an additional 15%of the offering amount from GE to cover over allotments, if any. The offering is expected to be priced prior to tomorrow's market open in the U.S.

Warren Buffett To Invest $3B In GE, Similar Perks To His Goldman Deal

What do they say? Buy low, Sell high? So why do you think on the very day the Senate is going to pass along 700 billion Warren Buffet swoops in?

 

[Care4all]

this is just crap....no transparency...

no transparency means done in darkness not in the daylight, no sunshine...senate is caving to paulson's plan....

any thing in business done in darkness with no transparency, is FROM DARKESS, is what mama would be saying....The Devil was in it, in the details unseen!

 

[Navy1960]

silly though, to do it this way...first they pay the $700 billion THEN THEY pull out more money from the tax payers to write down these people's mortgages?

Why not just do the mortgages now which would trickle up to the banks and pay for it only ONCE instead of TWICE?


i just don't get the reasoning to not go trickle up verses this trickle down crap?

It seems to me that if they really wanted to go into the banking business they would take 700 billion and create a mortgage pool and refinance any mortgage at 6% fixed. Then sell the ones to banks willing to buy them. This would have the effect of easing the foreclosures and freeing up the housing market and allow others to purchase homes that are on the market bringing down the inventory and raising home values. If a bank is failing because it is over extended let it fail. Credit will ease as the mortgage market becomes stable. If you just address the Credit Market and do not address the mortgage mess then all your doing is delaying things.

 

[Care4all]

GE today announced plans to offer at least $12 billion of common stock to the public. The underwriters will have a 30-day option to purchase shares representing an additional 15%of the offering amount from GE to cover over allotments, if any. The offering is expected to be priced prior to tomorrow's market open in the U.S.

Warren Buffett To Invest $3B In GE, Similar Perks To His Goldman Deal

What do they say? Buy low, Sell high? So why do you think on the very day the Senate is going to pass along 700 billion Warren Buffet swoops in?

thought i heard it was a loan, at 7% interest rate, for GE?

 

[DiveCon]

GE today announced plans to offer at least $12 billion of common stock to the public. The underwriters will have a 30-day option to purchase shares representing an additional 15%of the offering amount from GE to cover over allotments, if any. The offering is expected to be priced prior to tomorrow's market open in the U.S.

Warren Buffett To Invest $3B In GE, Similar Perks To His Goldman Deal

What do they say? Buy low, Sell high? So why do you think on the very day the Senate is going to pass along 700 billion Warren Buffet swoops in?

what i'm wondering is why does it always go to $700 billion.
why cant they reduce that amount some

 

[Navy1960]

The bottom line is we can all sit here and voice our opinions but they know whats good for us better than we do. So they are going to pass this it looks like, no matter what.

 

[Care4all]

what i'm wondering is why does it always go to $700 billion.
why cant they reduce that amount some

GOOD question!?

 

[Care4all]

The bottom line is we can all sit here and voice our opinions but they know whats good for us better than we do. So they are going to pass this it looks like, no matter what.

i really hate not having any say or control on decisions that affect my immediate life.....

 

[Navy1960]

GOOD question!?

It's the amount that Treasury asked for.

 

[DiveCon]

It's the amount that Treasury asked for.

all the more reason it needs to be cut
remember $600 toilet seats

 

[Navy1960]

all the more reason it needs to be cut
remember $600 toilet seats

Now your talking about a subject that I so far have not been able to get anyone to talk about and that DoD contracting. Which has been a complete keystone cops operation for a number of years. The 600.00 dollar seats your talking about was from the 80's just think adjusted for inflation how much it is now? Here is one for you, want to get really upset. see how much money the DoD spent on the Comanche project over a number of years before they cancelled it. Or the V-22.

 

[Care4all]

It's the amount that Treasury asked for.

yes, but treasury itself said it was pulled out of thin air....they really said that!!! paraphrased

 

[Navy1960]

yes, but treasury itself said it was pulled out of thin air....they really said that!!! paraphrased

It show's you where priorty is Care ? Tom Coburn just got up and said this is outside the bounds of the constitution but he's voting for it. That sort of shows you the mentality your dealing with in congress.

 

[DiveCon]

Now your talking about a subject that I so far have not been able to get anyone to talk about and that DoD contracting. Which has been a complete keystone cops operation for a number of years. The 600.00 dollar seats your talking about was from the 80's just think adjusted for inflation how much it is now? Here is one for you, want to get really upset. see how much money the DoD spent on the Comanche project over a number of years before they cancelled it. Or the V-22.

oh, i know
i was not happy that the comanche was canceled
but they claimed they could get more bang for the buck by buying more apaches

but we dont want to divert too mach away from this bailout crap
i want to see some details as to why they need $700 BILLION
why wouldnt $500 BILLION be enough, or even less

 

[DiveCon]

It show's you where priorty is Care ? Tom Coburn just got up and said this is outside the bounds of the constitution but he's voting for it. That sort of shows you the mentality your dealing with in congress.

 

[CrimsonWhite]

Now your talking about a subject that I so far have not been able to get anyone to talk about and that DoD contracting. Which has been a complete keystone cops operation for a number of years. The 600.00 dollar seats your talking about was from the 80's just think adjusted for inflation how much it is now? Here is one for you, want to get really upset. see how much money the DoD spent on the Comanche project over a number of years before they cancelled it. Or the V-22.

Sorry fellas, but military appropriations is an area that I feel we can't skimp on? The two systems that you use as examples were not failures in themselves. The Comanche did not fail, it was failed. The V-22 to my knowledge is operational and expected to be delivered. The reason for the outlandish spending on these projects is the outlandish requirement for safety by those that do not understand. As for $600 toilet seats? Yes there are areas that could be shored up, but guess what? I like to think that the profit is being siphoned into black projects that cannot be funded publically. Projects that are just as vital to National Security as anything else.

 

[Navy1960]

Sorry fellas, but military appropriations is an area that I feel we can't skimp on? The two systems that you use as examples were not failures in themselves. The Comanche did not fail, it was failed. The V-22 to my knowledge is operational and expected to be delivered. The reason for the outlandish spending on these projects is the outlandish requirement for safety by those that do not understand. As for $600 toilet seats? Yes there are areas that could be shored up, but guess what? I like to think that the profit is being siphoned into black projects that cannot be funded publically. Projects that are just as vital to National Security as anything else.

Don't get me wrong on this Crimson, my feelings are is it's just a screwed up mess. Just look at the visable example of the KC-X program which has now been passed onto the next administration. You have programs who's pre production test phase is so long now it just becomes this giant money siphon. Take the F-35 for example, the frist aircraft that were test flown in that project are in the Air and Space museum and the project is not even in porduction yet. You have a congress who wants to fight wars on the cheap and keep these programs stretched out for years till the initial costs skyrocket. Granted the lease deal on the KC-767 was not the best in the world but had McCain not killed that deal you would have several of them online right now. So again, don't misunderstand me DoD needs a big time management change.

 

[Navy1960]

The Department of Defense began the V-22 program in 1981, first under Army leadership, then the Navy/Marine Corps later took the lead in developing what was then known as the Joint-service Vertical take-off/landing Experimental (JVX) aircraft.[3][4] Full-scale development of the V-22 tilt-rotor aircraft began in 1986.[5]




On 28 September 2005, the Pentagon formally approved full-rate production for the V-22. The plan was to boost production from 11 a year to between 24 and 48 a year by 2012. Planned production quantities include 360 for the Marine Corps, 48 for the Navy, and 50 for the Air Force. The U.S. Army, originally the lead service for the then-named JVX program, is a possible candidate for use.

The V-22 had a flyaway cost of $70 million per aircraft in 2007,[2] but the Navy hopes to shave about $10 million off that price after a five-year production contract starts in 2008.[11]

A total of 458 V-22s are expected to be built for the Marines, U.S. Air Force and U.S. Navy at an average unit cost of $110 million per aircraft.[1]

Israel has shown interest in the purchase of an undisclosed number of MV-22s, but an order has not been placed or approved.[12]

Little bit of a long development time there don't you think?

V-22 Osprey - Wikipedia, the free encyclopedia

 

[Care4all]

It show's you where priorty is Care ? Tom Coburn just got up and said this is outside the bounds of the constitution but he's voting for it. That sort of shows you the mentality your dealing with in congress.

this is a scam....the administration went before the public and told everyone the sky is falling the sky is falling, the great depression is here if the 700 billion isn't given...

then the president did a national address saying the same thing, it was so dire that i thought his gloomy, scarey outlook was gonna give us a run on the banks....

then some congressmen and senators are repeating what the administration is saying and all the news is covering it and saying the sky will fall if not done...

this is dejavue for me, on the iraq vote and weapons of mass destruction going to turn in to mushroom clouds in 45 minutes and be the smoking gun that gets us...

I've been through this, I've seen this, I've heard this....and I ain't buying in to it this time.....even if the idiotic congressmen are voting for it because GOD FORBID they cause a crash like the admin has been saying...

GOD FORBID if they did not pass the iraq resolution or WMD'S in the form of a mushroom cloud, would get to us...

I'm sorry, i gotta good memory, and this is way too familiar...

plus, Paulson knew he was going to be asking for this money 6 weeks ago i heard, 6 WEEKS AGO, but he waited till congress was going home to campaign before bringing it to their attention...

this is what happened with the iraqi resolution vote, right before their election...

I don't trust ANYONE ANYMORE...and this stinks to high heaven....

care

 

[WillowTree]

sounds to me like their are a lot of pissed off people in the Senate today too. more back and forth and finger pointing. It may not pass.