“Why do people think there's some type of conspiracy? Financial markets can move very quickly because it's an issue of confidence at the end of the day.
Plus - to say they need to make it perfectly clear the McCain is not helping and getting in the way?? That's absurd. He (and Obama) belong in Washington trying to craft what Frank and Dodd have called the most important bill they've constructed in their lifetimes.
One of them will be president and will need to implement it. To say that they shouldn't be involved in crafting the bill is completely absurd.”
“Bruce - I have no idea if racism is a problem or not in the election. There's too many other issues out there that are in people's heads which complicates how they answer the question in any survey. My blood curdles when I think about Obama becoming President.
But not simply because of his race. I have read Dreams of My Father and it scared me.
I think after reading that book that Obama is the one focused on white versus black, not the voters”
“We are not bailing them out in the sense we're just giving them money. We're buying their assets at very cheap prices and hopefully we make money if not just get our original investment back. We're providing a market so they can actually realize the massive losses that are currently just paper losses because the marks on their assets are so low
If we don't do this then the banks will stop lending to each other (even the local ones that you use to get a car loan, small business loan or a college loan)”
spqesq on Sep 25, 2008 at 09:34:50
“So morons can't borrow money for shiny crap from China. So the university system of higher education can be non-profit. So people use cash to buy stuff and live within their means. So we no longer send the fruits of our toil to Saudi Arabia. So the sharks can no longer prey on the people.
“Unfortunately if I received $350,000 my problems would not be solved. I would still have a mortgage. I would still be unemployed. And I would still have a hard time making my mortgage payments.
I agree with Paulson and Bernanke that if we don't do this we'll be worse off. Unemployment will be higher. Credit card rates will be higher. And good luck when you go to your local bank to try to get a loan to send your kids to college or to start your own business.”