Why is the Senate Debating the Bailout

[WillowTree]

You know I have been listenting to this and has the thought occured to anyone there that, okay this is a credit crisis. so how then do you take care of a credit crisis by betting that the money your going to buy all these bad mortgage back securities is going to somehow incent banks to suddenly start lending money?

exactly, I said it yesterday, this is a fight to make credit available to those who least pay back the money they borrow. the bitch about de-regulation and now want us to spend 700 Billion dollars so the poor can still borrow money they cannot pay back.

 

[Navy1960]

Something else, you have all these Senators up there bitching about how bad Wall Street is and at the same time are getting on the knee's to jockey for the best ass kissing position. I have an idea let's pass a bill that give away 700 billion doallrs without any oversight or rule changes. Thats a good idea don't you think? Anyone hear Mel Martinez say we can come back in Jan. to make the needed rule changes?

 

[Care4all]

You know I have been listenting to this and has the thought occured to anyone there that, okay this is a credit crisis. so how then do you take care of a credit crisis by betting that the money your going to buy all these bad mortgage back securities is going to somehow incent banks to suddenly start lending money?

Was it Bill Neslson from florida that was explaining that there really weren't the safeguards that were truely needed and investigations that were truely needed like the ratings agencies...and as you said, there is no guarantee this will unfreeze the credit market...

plus i heard all these local banks on a finance show and they were saying they have plenty of money, they are loaning left and right, have plenty of money and always will have plenty of money because they never get entangled in these money making schemes of the mega banks...

 

[Navy1960]

Guess who I got a call from today? A real estate agent wanting to sell my house!! lol I said don't you watch TV, and she said there is a lot of inventory out there and people are scooping up bargins at the moment. She has not had one problem getting her people financed. and now Ms. Boxer the savior of Ca. lol

 

[Navy1960]

LMAO guess what Boxer is doing, she is doing the same thing Pelosi did the other day, pissing people off. lol I love it.

 

[WillowTree]

there's Barbara Boxer up there bitching after she and fienstien and pelosi have run California into the shit hole. they have about a 4 billion dollar deficit.

 

[WillowTree]

Was it Bill Neslson from florida that was explaining that there really weren't the safeguards that were truely needed and investigations that were truely needed like the ratings agencies...and as you said, there is no guarantee this will unfreeze the credit market...

plus i heard all these local banks on a finance show and they were saying they have plenty of money, they are loaning left and right, have plenty of money and always will have plenty of money because they never get entangled in these money making schemes of the mega banks...

correct, credit unions and small town banks didn't participate in this fiasco they are sitting pretty.

 

[Care4all]

there's Barbara Boxer up there bitching after she and fienstien and pelosi have run California into the shit hole. they have about a 4 billion dollar deficit.

nahhhh willow, they have nothing to do with state law or appropriations

 

[Navy1960]

nahhhh willow, they have nothing to do with state law or appropriations

Ca. is in deep because of the Governator and the statehouse in Sacremento who can't manage their way out of a box. They look great on TV though when it comes time for those photo ops.

 

[Navy1960]

You realize the feel good part of this legislation is when they tell you they are going to limit golden parachutes. Starting tomorrow. !

 

[WillowTree]

Something else, you have all these Senators up there bitching about how bad Wall Street is and at the same time are getting on the knee's to jockey for the best ass kissing position. I have an idea let's pass a bill that give away 700 billion doallrs without any oversight or rule changes. Thats a good idea don't you think? Anyone hear Mel Martinez say we can come back in Jan. to make the needed rule changes?

I heard it. He's my Fl. Senator with an R. Bill Nelson made a lot more sense.

 

[WillowTree]

nahhhh willow, they have nothing to do with state law or appropriations

?????

 

[DiveCon]

Ca. is in deep because of the Governator and the statehouse in Sacremento who can't manage their way out of a box. They look great on TV though when it comes time for those photo ops.

what Cali needed was a real conservative, not the governator
TOm McClintock was the man that should have won

 

[DiveCon]

?????

shes right in that
but they support the same basic policies that CA is doing but for the nation as a whole

 

[Navy1960]

I heard it. He's my Fl. Senator with an R. Bill Nelson made a lot more sense.

you know Willow it seems to me if they can come back in Jan. to make the rule changes then make them now before you hand out the money. Or is this case like they keep harping about, they are purchasing Assets. If these are such wonderful assets then why don't the banks keep them? I suspect they are buying the L side of the lending institutions P&L and on bended knee begging that they will lend even more money with no rules in place.

 

[DiveCon]

you know Willow it seems to me if they can come back in Jan. to make the rule changes then make them now before you hand out the money. Or is this case like they keep harping about, they are purchasing Assets. If these are such wonderful assets then why don't the banks keep them? I suspect they are buying the L side of the lending institutions P&L and on bended knee begging that they will lend even more money with no rules in place.

if the rules changes can wait till Jan, then so can the money

 

[Chris]

you know Willow it seems to me if they can come back in Jan. to make the rule changes then make them now before you hand out the money. Or is this case like they keep harping about, they are purchasing Assets. If these are such wonderful assets then why don't the banks keep them? I suspect they are buying the L side of the lending institutions P&L and on bended knee begging that they will lend even more money with no rules in place.

The lending of money with no rules in place is over. That ended over a year ago.

 

[Navy1960]

Watching this the Senate had no intention of not letting this 700 billion dollars go through.

 

[WillowTree]

you know Willow it seems to me if they can come back in Jan. to make the rule changes then make them now before you hand out the money. Or is this case like they keep harping about, they are purchasing Assets. If these are such wonderful assets then why don't the banks keep them? I suspect they are buying the L side of the lending institutions P&L and on bended knee begging that they will lend even more money with no rules in place.

yep and like the gentlelady from Washington just said the shareholds are out in the cold. Now that's just not right. These companies were given triple A ratings and kept right on selling stock. Somebody needs to do jail time.

 

[Navy1960]

The lending of money with no rules in place is over. That ended over a year ago.

There are no new rules in place till they come back in Jan. to make them Chris. unless the lenders decide to self impose. lending rules between now and then.