We need to act quickly on the Bailout!
Wednesday, October 01, 2008 | 05:47 PM | Permalink
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There comes a point when you give up on saving the beached whale and start to trim the fat.
Posted by: bcasey | Oct 1, 2008 5:56:11 PM
The Idiot on tv...named Cramer, suggest throwing everything against this "problem." What a joker... He ask what will work? I've been saying it all along Jim, let the system fail and then pick it up; your acting too premature.
Wow! he's really using emotion to support his argument...along with his hyperbolishes Ego! When will this guy get the hell off the tv...????????????
Posted by: JustinTheSkeptic | Oct 1, 2008 6:06:24 PM
Oh!!!! Thank God for Bloomberg...
Posted by: JustinTheSkeptic | Oct 1, 2008 6:08:03 PM
Let the whole damned thing fail - I'm long canned goods, bottled water, and bullets.
Posted by: Winston Munn | Oct 1, 2008 6:19:59 PM
I just opened the pdf of the "revised" bill. What a load of crap!!!!
I called both Boxer and Feinstein's DC offices to tell their aide where they should put the bill. (actually to remind them NO on the BAILOUT!)
I could only leave a msg. @ Boxer's Ca. office.
My message was "This revised pork barrel filled bill makes me physically ill and ashamed to be an American".
I say vote all incumbents out of office if they vote for this BS plan.
I cannot even believe they would consider doing this...."during such a crisis" or is there one at all???????
Posted by: 451 pgs. of CRAP | Oct 1, 2008 6:21:21 PM
Well it appears the bill's passing is basically a given in the Senate I wonder whether the House will agree.
C-Span is interesting to watch.
Obama is now on the "We may even make a profit" lies-are-reality side as well it appears. Pretty scare if you ask me.
I'm amazed there are actually still outspoken voices against the bill. The markets are so programmed on this thing passing the world would literally end if it didn't. This is now a MUST.
Futures and real stocks are up; no surprise.
Cartoon = epic.
Posted by: EasyPeasy | Oct 1, 2008 6:26:08 PM
I'm looking for the bailout bill text... and can't seem to find it. I'm looking at
http://www.senate.gov/pagelayout/legislative/b_three_sections_with_teasers/active_leg_page.htm
There, it lists "Financial industry bailout package" as H.R.1424 but 1424 does not seem to be the right bill.
Could someone point me in the right direction?
Posted by: Nick - Los Angeles | Oct 1, 2008 6:28:22 PM
Why are they calling this a crisis? A Russian nuke headed this way is a crisis, not an economic recession or depression.
Posted by: Jonathan | Oct 1, 2008 6:35:42 PM
Now please people dont' get me wrong I care about my fellow man/woman, but there comes a time when one has to realize that the best that can be done is nothing. I believe they call it "empty space." Right now the world needs come empty space.
Posted by: JustinTheSkeptic | Oct 1, 2008 6:39:45 PM
This is not about being a bullshit or bearshit anymore. This is serious. We still want to play this great stock market game, don't we?
This is one of those times where the bulls and bears have got to hold hands (yuk!) and work toward a common goal, to preserve the game.
I love Starbucks and all the nice coffee houses and i still want them to be around.
We don't want to end up sharing park benches, do we? yuk!
Get the bill approved!
http://beanieville.blogspot.com/2008/10/following-article-i-just-found-is.html
Posted by: beanieville | Oct 1, 2008 6:45:19 PM
This is not about being a bullshit or bearshit anymore. This is serious. We still want to play this great stock market game, don't we?
This is one of those times where the bulls and bears have got to hold hands (yuk!) and work toward a common goal, to preserve the game.
I love Starbucks and all the nice coffee houses and i still want them to be around.
We don't want to end up sharing park benches, do we? yuk!
Get the bill approved!
http://beanieville.blogspot.com/2008/10/following-article-i-just-found-is.html
Posted by: beanieville | Oct 1, 2008 6:46:29 PM
I consider myself an independent. But the thought of Obama, Pelosi, Reid with no gridlock in congress, scares the shit out of me.
Posted by: Jay | Oct 1, 2008 6:57:26 PM
Beanie--
Don't let them make you afraid.
It's gonna be ok.
Does it really make sense that those who have done all the harm are now going to magically save us--that they know how, that they actually want to?
No, it doesn't.
Like the cartoon reminds us (great f'ing cartoon btw), have they ever delivered what they were promising in these moments of "crisis"? No, they haven't.
Are they lying again?
Yes, they are.
--kb
Posted by: kittyboy | Oct 1, 2008 6:59:10 PM
What do you think of a political debate where the mediator has a book in favor of one party coming out soon?... Is that fair? Gwen Ifill should excuse herself from this embarrassment...
http://www.amazon.com/Breakthrough-Politics-Race-Age-Obama/dp/038552501X/ref=sr_1_1?ie=UTF8&s=books&qid=1222898001&sr=1-1
Posted by: mhm | Oct 1, 2008 7:00:39 PM
Gotta love Cramer! As long as that asshat is preaching long, I'll stay short! The first time he says something negative about the market, I'm all in long!
Posted by: Rob P | Oct 1, 2008 7:00:53 PM
Yes, clearly the most important thing is continued access to five dollar coffee, even if we have to borrow four of those dollars.
Posted by: debreuil | Oct 1, 2008 7:01:38 PM
Beaniville, you act, (as all the others) like there is hope....there is no hope. Get this over with as soon as possible; admit defeat and move on. THAT'S ALL THAT CAN BE DONE DURING THIS CIRCUMSTANCE.
Posted by: JustinTheSkeptic | Oct 1, 2008 7:02:17 PM
I hope all of you cynics are happy when your short sales come through and millions are waiting in bread lines.
Posted by: bsneathj | Oct 1, 2008 7:16:46 PM
One thing is clear over all this. There is no such thing as safety in big cap stocks.
I actually think more was lost on big caps than small caps but I haven't done the math.
GE looking for a $15B handout. Priceless. The CEO 7 months ago was on CNBC saying how fine everything was and now GE looks like it's gonna go bust.
Posted by: John Borchers | Oct 1, 2008 7:17:24 PM
@Nick
"I'm looking for the bailout bill text... and can't seem to find it. Could someone point me in the right direction?"
Nick, you might want to try the Library of Congress and scan under the category of Fiction and/or Fantasy.....
Posted by: Winston Munn | Oct 1, 2008 7:21:54 PM
There is a reason National Parks have "Do not feed the animals" signs up. Once you feed them they become dependent on you for food and forget how to fend for themselves. Wall Street is the same way. If the government had to step in to pay for these losses, they will depend on the government to pay for all future losses and will forget how to fend for themselves.
Posted by: Jonathan | Oct 1, 2008 7:25:01 PM
This cartoon is so spot-on, I will copy it on my blog, hat tip to BR of course. It will be a part of a post I am writing for later tonight on Bill Clinton giving a little of his own constant nonsense, bullshit, and crap at the University of Central Florida today.
Posted by: CNBC Sucks | Oct 1, 2008 7:25:30 PM
Winston: I found it, it is in the "Horror" section.
Posted by: Jonathan | Oct 1, 2008 7:26:23 PM
Warren Buffett is not investing capital, he's taking the cash out of the banks because they aren't safe.
Posted by: John Borchers | Oct 1, 2008 7:27:28 PM
Dear old Beanie,
It must be nice to be so blissfully unaware of the real world.
Don't believe the propaganda. This is a first and only chance to bring about a more just and equitable system.
I get the feeling that the more money you have in stocks, the more likely you are to be for this bailout. Purely driven by self interest in the short term.
Posted by: whaaa? | Oct 1, 2008 7:35:31 PM
