Hurray! Grassley to investigate Bear paper

[chinaco]

Something occurred to me. Do you agree with this idea?

The government is helping out the miscreant (or incompetent) corporations (and management) that scr3wed up.

Shouldn't a stipulation of the government bailout (help with loans) be that most of upper management be fired to get the assitance? Fired with the company refusing any golden parachute?

It seems only fair... Why should the perpetrators be left in power?

 

[Tadpole]

I'm with chinaco. When I read this discussion I wonder if people are trying so hard to be "conservatives" and "personal responsibility" that they can't see their navels for their bellies.

 

[W2R]

Something occurred to me. Do you agree with this idea?

The government is helping out the miscreant (or incompetent) corporations (and management) that scr3wed up.

Shouldn't a stipulation of the government bailout (help with loans) be that most of upper management be fired to get the assitance? Fired with the company refusing any golden parachute?

It seems only fair... Why should the perpetrators be left in power?

YES!!! You are so right about that. Upper management should not be allowed to walk away from these bail-outs and retire in unbelievable luxury, which seems to happen a lot. It almost seems like a scam. Even if it is not their fault (which I find it hard to believe), they should still bear the responsibility. Bad things happen to all of us (except these guys).

 

[Zipper]

I watched a news show on HDnet a couple of weeks ago that made me sit up and take notice. I think it was a Dan Rather's news programme.

It showed a U.S. army captain (female) handing out stacks and stacks of newly minted $100 bills to some tribal leaders in Iraq. They were supposed to distribute it to locals to keep highways open and buy the peace. We are talking about 10's of $millions in just this one area.

I looked at those stacks of paper and realized that the printing presses must be going full full tilt.

Makes me glad I have some gold in the portfolio.

Here I am quoting myself!

Who on this forum wouldn't like one of those stacks?? (about 6" of mint $100's)

 

[Notmuchlonger]

Dun dun dun The Fed might get more bullets.


Bush proposes financial regulation overhaul - Stocks & economy - MSNBC.com

 

[HFWR]

Quick, close the barn door. The horse is out...

 

[al_bundy]

I'm not so sure of that. My feeling is that the average american, as opposed to the Wall Street crowd, is pretty fed up with high prices, dropping home prices, and a looming recession. To see the Government giving away money to bail out a Wall Street firm that made stupid loans and took on 30 to 1 leveraged risk isn't sitting well. The Dems will start beating it like a drum. I think it may have legs. Since Bear got a bailout watch out for everyone else asking for a handout. Homeowner bailout plans are already stirring, Bush sounded today like even he wouldn't fight it too much. Time will tell. I expect some intensive regulation as a minimum. Especially if it becomes obvious Bear unloaded junk paper on the Fed.

we have had all this when the US was on the gold standard and before we had a Fed

 

[saluki9]

No I wouldn't trust his word if that's all I got. He said he wants "full public disclosure", if I heard him right. Full sunshine.

The average American doesn't have even the most basic understanding of public debt, our tax system, or What the Fed does.

I can't wait until Mr. Grassley starts trying to explain CDO tranches to them, I'm sure it will be enlightening to the point of unconsiousnes.

 

[HFWR]

Well, I think it's okay to hold some feet to the fire, including the tootsies of Congress...

Something must be done...

Apparently, a lot of risk in these instruments was not accounted for properly, or at all. So now the Fed has to punt...

All you can do is hold your nose...

 

[barbarus]

The average American doesn't have even the most basic understanding of public debt, our tax system, or What the Fed does.

I can't wait until Mr. Grassley starts trying to explain CDO tranches to them, I'm sure it will be enlightening to the point of unconsiousnes.

I say get Britteny Spears to explain these things and America will be a better place.

After all, she knows as much about finance as any of the current candidates for our next fuhrer, no?

 

[brewer12345]

The average American doesn't have even the most basic understanding of public debt, our tax system, or What the Fed does.

I can't wait until Mr. Grassley starts trying to explain CDO tranches to them, I'm sure it will be enlightening to the point of unconsiousnes.

Heh. And now the administration wants to consolidate all regulation under the Fed. Imagine explaining to the public the difference between the OTS, the OCC, the FDIC, and the Fed. And I cannot wait for the 50 way dag nasty fight that will result from the proposal for a national insurance regulator. Can't see that working with all the entrenched interests, but I will make sure to have some popcorn popped before the insurance cage match starts.

 

[RockOn]

YES!!! You are so right about that. Upper management should not be allowed to walk away from these bail-outs and retire in unbelievable luxury, which seems to happen a lot. It almost seems like a scam. Even if it is not their fault (which I find it hard to believe), they should still bear the responsibility. Bad things happen to all of us (except these guys).

Almost? That's movin out there on the wild side. Tryin to avoid the Reynolds wrap?

 

[W2R]

Almost? That's movin out there on the wild side. Tryin to avoid the Reynolds wrap?

I suppose I am just not all that full of myself. Odd to some, I know!!