US announces New debt plan to ease financial crisis
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Originally posted by Poh Ah Pak:
That is what you get when you invest in too much USA assets.
Once in a century rip-off
Once in a century rip-off Economist Michael Hudson: the bailout is a giveaway that will cause hyperinflation and dollar collapse
http://therealnews.com/t/index.php?option=com_content&tas
Why the Bailout Will Fail
The Insanity of the $700 Billion Giveaway
Ah well.. all talk and no solution. How typical.
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if the fed dun bail those financial institutions, more of them may fell.. (bear stearns, lehman)
if that happens, more ppl will lose their jobs... and its not just america... some of those institutions have got offices in singapore too... and the ppl employed is not just a few.. its in hundreds....
better to go into further deficit (they are already deep in debt.. wats a few billion bucks more?) than to have a big scale recession =\
looks like usd will go down somemore.....
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personally i dont care if meril lynch or lehman bro fire all singapore office staff. whether or not they are involved in the mess directly or indirectly, they should also pay for the mess. moreoer the note 5 staff sell by DBS are definietly promoted by lehman singapore.
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Originally posted by shinta:
if the fed dun bail those financial institutions, more of them may fell.. (bear stearns, lehman)
if that happens, more ppl will lose their jobs... and its not just america... some of those institutions have got offices in singapore too... and the ppl employed is not just a few.. its in hundreds....
better to go into further deficit (they are already deep in debt.. wats a few billion bucks more?) than to have a big scale recession =\
looks like usd will go down somemore.....
On the other hand, bailing out will only increase competency of top mgts in those financial institutions, the decision makers must answer for their own mistakes and take the blunder of fall. By Fed Reserve spoonfeeding, they just relax and careless about the future, afterall, over the years, they personnally had built a sound financial wealth with those fat bonuses and high paid.The capitalist market should be left alone to figure itself out, if it is down, so be it, for without a downturn, how can there be an upturn on a bell curve, we therefore must let the market takes it natural course, after all, these are flaws in a democratic capitalism society which many fail to realize.
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Originally posted by angel7030:
On the other hand, bailing out will only increase competency of top mgts in those financial institutions, the decision makers must answer for their own mistakes and take the blunder of fall. By Fed Reserve spoonfeeding, they just relax and careless about the future, afterall, over the years, they personnally had built a sound financial wealth with those fat bonuses and high paid.The capitalist market should be left alone to figure itself out, if it is down, so be it, for without a downturn, how can there be an upturn on a bell curve, we therefore must let the market takes it natural course, after all, these are flaws in a democratic capitalism society which many fail to realize.
haven't been following the news recently, but if i'm not wrong, they are gg to do something to address this mgmt issue...
oh well us can die for all i care as long as i'm not affected bwahaha
(not gg to happen i guess)
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I think one of the big concerns now is that the 700bn will be used to bail out foreign banks as well. A lot of talk of "Why American Taxpayers should pay for the mistakes of these foreign banks."
And also the witchhunt to hang those executives for covering up the extent of the Subprime.
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The Road To Hell Is Paved With Good Intentions. --- Dr. Samuel Johnson
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Aiyoh.. actually.. it's not fair for the taxpayers to bail out the banks lah.
The bailout will not be so easily given one.
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the market will crash, but the market will rebuilt itself, and things might change. people might still make the same mistake, but less likely after they see that no one will clear their shit.
you save them, they will confirm do the same shit again.
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moral hazard.
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They need to cut the middlemen banks.. keep feeding fat bankers more money.. that's just plain crazy.
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actually, the middleman lending money at high interest rates... isn't it like professional loan shark?
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Originally posted by skythewood:
actually, the middleman lending money at high interest rates... isn't it like professional loan shark?
high interest rates ? where got ?
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no go ahead with the bailout plan!!
i say hooray!! i hope more of these top financial CEO and executives get fire!! they cause the mess, they have to pay for it!!
The senator represent the PPL, they are voting for the americans ppl. this is what the american want to do. No bailout for american financial markets.
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Originally posted by jojobeach:
high interest rates ? where got ?
if the interest rate not good, how do the middleman earn their money?
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The problem is not just about the institutions, but the entire "debt-centric" economy itself. Their entire spending lifestyle is not about spending within limits, its spending in debt. They charge to credit cards like nobody's business, and the credit card company just earn whatever interest their debt generates.
It was shit that was waiting to hit the fan once everbody realized that they've already emptied their tanks.
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what does alan greenspan has to say about this crisis besides once in a century shit.
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Greenspan can say wadever he wants already.
I'm not American, but I can fully understand why they feel that every a-hole that prevented the proposed bill to provide proper legislation of sub-prime mortgage loans, has to answer!
Foreign governments have to contribute to the situation. Sad to say, its not right for the Americans to solely bear the cost of repairing the financial system. Their banks were partly at fault for the screw up.
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CNBC Poll: What Do You Think?Was the House correct when it voted to defeat the $700 billion rescue package? * 105897 responses Yes
48%/dotRed.gif)
No
43%Not sure
8.4%Not a Scientific Survey.here are polls conducted online by CNBC.
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Global economy, global fix wad. Why should American taxpayers shoulder everything.
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Global economy, global fix wad.
What do you mean?
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Global economy, global fix wad. Why should American taxpayers shoulder everything.
this problem is originate from american irresponsible Investment bank. But it has spread to Europe and some part of asia.
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Well, one of the reasons cited that foreign banks had to be bailed out by the 700Bn package did not sit well with a lot of ppl. The justification is that, the financial industry is very globalized, and hence these foreign institutions based in the US will have to benefit as well.
The thing is, if its a globalized financial industry, shouldn't a solution be considered on a more global level as well? No doubt, whatever the outcome from the US, its gonna affect the rest of the world's financial institutions, if its truly THAT globalized.
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Explaining the toxic crisis of capitalism - questions and answers
I've Watched the Economy for 30 Years. Now I'm Truly Scared
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The Globalization Gamble: The Dollar-Wall Street Regime and its Consequences