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View Poll Results: Do you support the Paulson Bailout as it currently stands
Yes 49 33.33%
No 71 48.30%
Unsure 26 17.69%
No opinion 1 0.68%
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Do you support the Paulson bail out as it was first presented?
Old 09-25-2008, 12:29 PM   #1
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Do you support the Paulson bail out as it was first presented?

Do you support the Paulson bail out proposal as it stands?

I am trying to start a poll but I am unsure if it will work


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Old 09-25-2008, 12:31 PM   #2
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As it stands how? The thing the administration presented, which is DOA? The compromise with Congress, which nobody seems to know the details of? SOmething else?
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Old 09-25-2008, 12:32 PM   #3
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No, but it makes no difference from the latest news.
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Old 09-25-2008, 12:33 PM   #4
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Quote:
Originally Posted by brewer12345 View Post
As it stands how? The thing the administration presented, which is DOA? The compromise with Congress, which nobody seems to know the details of? SOmething else?

How it was first presented. I don't know the final verdict.
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Old 09-25-2008, 12:40 PM   #5
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How do I change the poll title to match the first post title edit?

can a moderator help on this?
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Old 09-25-2008, 01:53 PM   #6
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Let's see borrowing $700B to buy distressed assets that may have an upside potential in the end, or at the very least a substantial residual value and potentially avoid a complete meltdown of the entire financial system... Hum, yes, that sounds like a good reason to borrow that kind of money. I think it beats borrowing $700B to invade Iraq. But that's just me...
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Old 09-25-2008, 01:55 PM   #7
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Originally Posted by Canadian Grunt View Post
How it was first presented. I don't know the final verdict.

give us money and don't bother to ask how we are going to use it and don't let the courts ask either
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Old 09-25-2008, 02:01 PM   #8
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Let's see, would I rather lose an arm or a leg or a stick in the eye?
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Old 09-25-2008, 02:49 PM   #9
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Heck no. Stick the taxpayers with the tab for other people's foolishness? Bad idea.

Maybe I should mortgage my house to the hilt, run up credit card debt for toys and vacations, and then ask for a bailout because well, gee, I didn't win the lottery, and things just didn't work out the way I wanted them to.
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Old 09-25-2008, 03:27 PM   #10
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I think it would be prudent for anyone with substantial assets in the stock market, or who is still working, or running a business or in fact is exposed in any way to anything other than insured savings and government bonds to support a bailout.

We can hope that it is done with discipline, and at market values. But how many of us want to wake up Monday with our accounts down $100,000 or more?

Get'er done, we'll worry about the rest later. Hey, you kid-free folks should be ecstatic. We breeders have produced the people who will pay for this, if indeed any paying needs to be done.

ha
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Old 09-25-2008, 03:38 PM   #11
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The original Paulson proposal is best. Give all the money to Paulson, no questions asked, no scrutiny ever, then hope for the best.

Risky and crazy as that sounds, I think it's safer than 1) The senate getting involved, 2) the house getting involved, 3) bush getting involved, or 4) any combination of 1,2 & 3. Remember, there is no problem so serious that it can't be made worse when our politicians get involved.

The future is looking grim. I see three options: learn chinese, practice being a Wal-Mart greeter, or get a job a Goldman Sachs.

Edit: I just watched marc Faber and Jim Rogers at Bloomberg. Very enjoyable - they certainly know how to get their points across
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Old 09-25-2008, 04:00 PM   #12
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A lot more of that $700B is going into my pockets than is coming out. I fully support it.
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Old 09-25-2008, 06:24 PM   #13
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i'm unsure. always a saver and never a debtor, i didn't start this mess, didn't flip a house. i understand the $700b bailout as proposed will cost about $2,600 per person. it happens i have that. so even though i didn't cause this, can i just write someone a check and then my life goes back to normal without the fear of collapsing what's left of my little world?

as i understand the conditions of this hostage taking, the world will end if we don't pay up. i hear that the bailout should fix the economy. what that means i don't know: it's gonna take $700b to what, reinstall the smoke & mirrors? does that secure the rest of my future or is this just a delay tactic? i don't have any children to pass this off on but i'd rather go back to work now than when this collapses again in 10 years, you know, when that $700b extortion payment runs out.

if this works, if it does whatever voodoo it is suppose to do, then i suppose, that sounds worth it. but what i'd like to know is why wouldn't the $700b bailout work. what assures me that i am not having the wool pulled over my eyes, besides that gun pointed at my head?

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Old 09-25-2008, 06:59 PM   #14
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I'm unsure and agree with Lazy's comments. Isn't this adding just another layer to the debt pyramid that's been at the root of our faux economy?
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Old 09-25-2008, 07:07 PM   #15
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How about lending them money and use the assets (both good and bad) as collateral?
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Old 09-25-2008, 07:11 PM   #16
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We need to do something and buying paper that has value to keep the market from crashing sounds real good to me.
I'm afraid we are going to get a taste of market lash because of the lack of a plan tomorrow morning.......I don't want to look -- but I will.
Gotta keep reminding myself that I have years of cash, years of cash......
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Old 09-25-2008, 11:39 PM   #17
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Assuming that some of those "give Paulson the money and power and get out of the way" posts are not sarcasm, doesn't anyone ever consider that in 3 or 4 months he may not be the guy with the money anymore?

I used to use this argument on my super-neocon friend, whenever he was defending the Bush usurpation of power de jour. Are you willing to have Hillary (logical at the time) holding all these same powers?

Personally, I don't know if the bailout is the best answer, but I think any quick decision is going to be a mistake. I would rather have the markets fluctuate and twitter for a few weeks in an attempt to create a reasonable bill than just "do something". I always have a bad feeling when the gov't decides it has to "do something".
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Old 09-25-2008, 11:50 PM   #18
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NO!


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Old 09-26-2008, 06:37 AM   #19
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Yes, notwithstanding the sniping of the politicians and economists over this plan, I think it's the only viable game plan at this stage of the 2 minute drill. It's not a Hail, Mary pass, but if you don't execute the plan I think market phobia and panic will descend on us, and personally I see a hit to my retirement accounts in the magnitude of at least 20 percent by the end of the year. (I'm already down around 15 percent, YTD.)

I understand the emotional baggage this issue has to many, but this is business and we need a plan, with modifications, to be adopted by Monday.

This has been a major political screw-up by the current Administration in not selling this plan to the American public. They really needed the financial celebreties that common folk know, like Suzie Orman and Melody Hodson, sell this plan, and they blew it.

I think John McCain threw a grenade into the process yesterday.
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Old 09-26-2008, 08:02 AM   #20
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How about lending them money and use the assets (both good and bad) as collateral?
Seems to me that either buying the assets, or providing loans with those assets as collateral -- these seem to be the two plans proposed at the moment -- amount to the same thing. Either one is a bailout.

This nonsense about the government/taxpayer maybe making a profit in the end is just that. The bailout only works if the bad loans, or securities built on top of them, are purchased at or close to book value, not true value.

I find it delicious irony that Bernie Sanders, self-described democratic socialist, is one of the ones saying "talk to the invisible hand," while many of the erstwhile rugged-free-marketeers are begging for government handouts.
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