The gov't should take responsibility for the banking economy, because clearly the greedy douchebags running the show are incapable. gov't take over = nonprofit. No profit motive, no need to worry about return, thusly the ability to direct the economy out of the tailspin its in.

Once things are stabilised, they can re-privatise them, but under intensive regulation equal to that of the Fed directly lending.

With the gov't running banking, there would be no problem with CDOs and similar idiotic propositions. Need a loan? go to the Fed, make your case. If it makes sense, bingo - loan. No worry about if the "bank has money or not" to lend, as it's the gov't - they can print more of it at will.

Socialism works.

Eliot Spitzer wrote:

The Obama administration, which has spent much of the past year bailing out banks and protecting the markets, has done shockingly little to help the middle class that has borne the brunt of the financial meltdown. Two acts are particularly revealing. First, the administration failed to go to the mat to give judges the power to reform mortgages in the bankruptcy context. The administration barely winced as the Senate caved to the banks on this critical issue, risking no political capital to protect one of the few reforms that could have totally transformed the mortgage crisis. As the foreclosure wave continues, and as adjustable-rate mortgages hit reset points that are going to cause havoc for millions of additional families, this failure of political leadership by the administration stands as one of the early warning signs that things were amiss.

The second act is the recent—equally difficult to understand—concession to the banks, allowing them not to be required to offer what are called "plain vanilla" mortgages and other products to consumers. These products are simpler, more understandable, less ridden with fees, and less prone to long-term risk than most of what banks try to sell consumers on a regular basis. These are the very products consumers need.

Trillions of dollars of taxpayer infusions—direct cash, loan guarantees, capital purchases, policies to keep banks' cost of capital at virtually zero—have kept the banks afloat. It is amazing that the administration didn't leverage these infusions to negotiate these two simple policies that would have made banking more sensible for the middle-class Americans whose tax dollars have bailed out the banks.

Read entire article: http://www.slate.com/toolbar.aspx?action=prin...

... and on...

It was fully expected when Bush wanted to hand them the full $780 billion based on a three page promise to be on the up and up.

"No really, we'll spend it wisely and account for every dime"

(same old song and dance my friends)

Oh yeah, they deliver friggen sharks with lasers on their heads and flying cars ASAP!

:)

Wall Street gets away with more and more dirty tricks. Where the hell is the outrage against Paulson and his cronies? Where are the populist cries for fairness for the average Joe? I guess they're too busy trying to destroy the careers of African-American and gay administration employee's.

To Glenn Beck, Wall Street and Health Insurance companies need the freedom to pillage taxpayer's so corporations can fight the socialist-fascists who have illegally orchestrated a communist Muslim takeover of the White House, which by the way is setting up FEMA concentration camps to imprison gun owners and tea-bag fetishists.
Keep your eye on the prize Glenn, way to keep your eye on the ball!

Come on down and let us show you our large selection of new and used Pitchforks -- especially design for that "Bankster" you've been thinking about skewering!

Remember we're open everyday that Wall Street is open. Let us find one to fit your needs!

I blame ACORN.

I believe that the bailout as well as the near collapse of the economy has something to do with the US presence in Afghanastan and Heroin production in that country. Sibel Edmonds made the point that a number of large financial instutions were laundering drug money for those that are behind it. Those same companies had to cover it up some way.

I believe it also ties in with some of the methods that those banks used to "show profit" even though we now know the were broke. The Heroin production in Afghanastan in July of 2001(just before the invasion) was non existent. Within 2 years there were 150,000 acres of poppys. It happened in the 80's as well. Remember the Savings and Loan scandal. It seems that every time the US is in Afghanastan a shit load of money goes missing at some financial level and there's a bailout. Not a coincidence in my opinion.

The "Real" Economy Is Dying: Q4 "Going to Be a Bloodbath," Whalen Says
Watch Video -
http://finance.yahoo.com/tech-ticker/article/...

"Investors should think about this because the fourth quarter in the banking industry is going to be a bloodbath," says Whalen, who believes smaller and regional banks like Hudson City Bancorp may come into favor vs. larger peers, which have dramatically outperformed since the March lows.

"When you see the markets rallying when the real economy is shrinking that tells you this [recovery] is not going to be very enduring," Whalen says.

In this regard, Whalen finds himself in philosophical agreement with Nouriel Roubini, George Soros and Meredith Whitney, among other "prophets of the apocalypse" who've once again been raising red flags in recent days.

of course they lied. the current administration has been doing the same thing. if events repeated themselves, they'd lie and bail them all out again.

why? because this merry go round functions on money. money is based on the dollar. fuck with this system, and the dollar collapses. if the dollar collapses, this government loses it's ability to micromanage its own citizens, other governments, and the global economy. and governments are very good at predicting challenges to their power.

obviously this was going to happen. and while it was happening a majority of Democrats, liberals, progressive were advocating bailouts because of the fear of total economic meltdown. same as the GOP and conservatives, who if they really believe in capitalism, should have been advocating capitalism's prescription for making mistakes: you lose your fucking money and/or go out of business.

Look this was never a bailout that was stated as soon as the first diversion of the TARP funds, we were warned it was a SNOW JOB, this is the NAZI RACIST FASCIST COMMUNIST Breaking America through its Treasury. You can easily identify the TRAITORS by the smoke screen and attacks on anyone trying to sort this out.

Pull the TARP money start IMMEDIATE investigation with CRIMMINAL and Jail time sentences and JAILS can NOT be negotiated all fines paid up front, and the CONFISCATION of personal assets that were accumulated during the course of this BOGUS crash.

Remember we were not allowed to think ask questions or put restrictions on the use this is intentional fraud on the part of those that proposed the limited regulation and conspiracy to defraud on behalf of the Banks involved.

Kind of like our health industry?

The article names "Senior Officials". Names Bernanke and paulson. But who are those "senior officials"?