Join Early Retirement Today
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%
Voters: 147. You may not vote on this poll

Reply
 
Thread Tools Search this Thread Display Modes
Do you support the Paulson bail out as it was first presented?
Old 09-25-2008, 01:29 PM   #1
Recycles dryer sheets
Canadian Grunt's Avatar
 
Join Date: May 2007
Location: Edmonton
Posts: 197
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


Air your opinion
__________________

__________________
it's the journey that matters
Canadian Grunt is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 09-25-2008, 01:31 PM   #2
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
brewer12345's Avatar
 
Join Date: Mar 2003
Posts: 16,391
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?
__________________

__________________
"There are three kinds of men. The one that learns by reading. The few who learn by observation. The rest have to pee on the electric fence for themselves."



- Will Rogers
brewer12345 is offline   Reply With Quote
Old 09-25-2008, 01:32 PM   #3
Thinks s/he gets paid by the post
OAG's Avatar
 
Join Date: Jun 2006
Location: Central, Ohio, USA
Posts: 2,598
No, but it makes no difference from the latest news.
__________________
Vietnam Veteran, CW4 USA, Retired 1979
OAG is offline   Reply With Quote
Old 09-25-2008, 01:33 PM   #4
Recycles dryer sheets
Canadian Grunt's Avatar
 
Join Date: May 2007
Location: Edmonton
Posts: 197
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.
__________________
it's the journey that matters
Canadian Grunt is offline   Reply With Quote
Old 09-25-2008, 01:40 PM   #5
Recycles dryer sheets
Canadian Grunt's Avatar
 
Join Date: May 2007
Location: Edmonton
Posts: 197
How do I change the poll title to match the first post title edit?

can a moderator help on this?
__________________
it's the journey that matters
Canadian Grunt is offline   Reply With Quote
Old 09-25-2008, 02:53 PM   #6
Moderator Emeritus
 
Join Date: May 2007
Posts: 11,044
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...
__________________
FIREd is offline   Reply With Quote
Old 09-25-2008, 02:55 PM   #7
Thinks s/he gets paid by the post
 
Join Date: Jun 2005
Posts: 1,543
Quote:
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
__________________
al_bundy is offline   Reply With Quote
Old 09-25-2008, 03:01 PM   #8
Full time employment: Posting here.
tightasadrum's Avatar
 
Join Date: Aug 2006
Location: athens
Posts: 802
Let's see, would I rather lose an arm or a leg or a stick in the eye?
__________________
Can't you see yourself in the nursing home saying, " Darn! Wish I'd spent more time at the office instead of wasting time with family and friends."
tightasadrum is offline   Reply With Quote
Old 09-25-2008, 03:49 PM   #9
Moderator
Walt34's Avatar
 
Join Date: Dec 2007
Location: Eastern WV Panhandle
Posts: 16,579
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.
__________________
I heard the call to do nothing. So I answered it.
Walt34 is offline   Reply With Quote
Old 09-25-2008, 04:27 PM   #10
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
haha's Avatar
 
Join Date: Apr 2003
Location: Hooverville
Posts: 22,387
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
__________________
"As a general rule, the more dangerous or inappropriate a conversation, the more interesting it is."-Scott Adams
haha is offline   Reply With Quote
Old 09-25-2008, 04:38 PM   #11
Moderator
MichaelB's Avatar
 
Join Date: Jan 2008
Location: Rocky Inlets
Posts: 24,492
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
__________________
MichaelB is offline   Reply With Quote
Old 09-25-2008, 05:00 PM   #12
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Jun 2005
Posts: 8,627
A lot more of that $700B is going into my pockets than is coming out. I fully support it.
__________________
LOL! is offline   Reply With Quote
Old 09-25-2008, 07:24 PM   #13
Thinks s/he gets paid by the post
lazygood4nothinbum's Avatar
 
Join Date: Feb 2006
Posts: 3,895
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?

a contract is only good when it is not signed under duress.
__________________
"off with their heads"~~dr. joseph-ignace guillotin

"life should begin with age and its privileges and accumulations, and end with youth and its capacity to splendidly enjoy such advantages."~~mark twain - letter to edward kimmitt 1901
lazygood4nothinbum is offline   Reply With Quote
Old 09-25-2008, 07:59 PM   #14
Full time employment: Posting here.
 
Join Date: Apr 2005
Posts: 524
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?
__________________
JB is offline   Reply With Quote
Old 09-25-2008, 08:07 PM   #15
Thinks s/he gets paid by the post
Spanky's Avatar
 
Join Date: Dec 2004
Location: Minneapolis
Posts: 4,046
How about lending them money and use the assets (both good and bad) as collateral?
__________________
May we live in peace and harmony and be free from all human sufferings.
Spanky is offline   Reply With Quote
Old 09-25-2008, 08:11 PM   #16
Full time employment: Posting here.
 
Join Date: Apr 2006
Posts: 944
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......
__________________
Freed at 49. You only live once - live it
Donzo is offline   Reply With Quote
Old 09-26-2008, 12:39 AM   #17
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
harley's Avatar
 
Join Date: May 2008
Location: Following the nice weather
Posts: 6,441
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".
__________________
"Good judgment comes from experience. Experience comes from bad judgement." - Will Rogers, or maybe Sam Clemens
DW and I - FIREd at 50 (7/06), living off assets
harley is offline   Reply With Quote
Old 09-26-2008, 12:50 AM   #18
Recycles dryer sheets
barbarus's Avatar
 
Join Date: Aug 2007
Posts: 433
NO!


Thursday's Hudson - iTulip.com Forums
__________________
Consult with only myself as your adviser or representative. My thoughts should be construed as investment advice of the highest caliber. Past performance is but a pale shadow and guarantee of even greater results in the future.
barbarus is offline   Reply With Quote
Old 09-26-2008, 07:37 AM   #19
Full time employment: Posting here.
 
Join Date: Oct 2006
Posts: 898
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.
__________________
Someday this war's gonna end . . .
ChrisC is offline   Reply With Quote
Old 09-26-2008, 09:02 AM   #20
Recycles dryer sheets
 
Join Date: May 2007
Posts: 290
Quote:
Originally Posted by Spanky View Post
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.
__________________

__________________
bpp3 is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
So Will the Gov't Bail ME Out... tgotch Other topics 2 05-22-2008 09:05 PM
Bank bail-outs to be kept secret spazz FIRE and Money 0 05-05-2008 11:25 PM
Can I bail in July???? Cattusbabe Hi, I am... 21 04-28-2006 03:03 PM

 

 
All times are GMT -6. The time now is 11:45 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.