i ditching law to sell apples
― low ranking monkeys don't look at high ranking monkeys (Hunt3r), Monday, 29 September 2008 20:06 (fifteen years ago) link
mortuary science? (xxpost)
― Radiant Flowering Crab (Rock Hardy), Monday, 29 September 2008 20:07 (fifteen years ago) link
so stfu about what kind of speech you'd like the little lady to give
easy, tiger. Your little lady can defend herself just fine without you puffing your chest.
― Dandy Don Weiner, Monday, 29 September 2008 20:09 (fifteen years ago) link
You should be ok. In 2012 we will all vote on a public bill that forgives every American citizen of his or her debts, it'll be swell.
― Adam Bruneau, Monday, 29 September 2008 20:09 (fifteen years ago) link
this would make for a cracking good 3-4 episode west wing story arc
― Barack HUSSEIN Obama (max), Monday, 29 September 2008 20:10 (fifteen years ago) link
looks like the 'Murrican ppl agree w/ Nader after all, huh huh huh
― Dr Morbius, Monday, 29 September 2008 20:12 (fifteen years ago) link
Waiiit a moment, you live in the U.S., right?
― Abbott, Monday, 29 September 2008 20:14 (fifteen years ago) link
Sen. John McCain (R-Ariz.) and his top aides took credit for building a winning bailout coalition – hours before the vote failed and stocks tanked.
The rush to claim he had engineered a victory now looks like a strategic blunder that will prolong the McCain’s campaign’s difficulty in finding a winning message on the economy.
Shortly before the vote, McCain had bragged about his involvement and mocked Sen. Barack Obama for staying on the sidelines.
“I've never been afraid of stepping in to solve problems for the American people, and I'm not going to stop now,” McCain told a rally in Columbus, Ohio. “Sen. Obama took a very different approach to the crisis our country faced. At first he didn't want to get involved. Then he was monitoring the situation.”
McCain, grinning, flashed a sarcastic thumbs up.
http://dyn.politico.com/printstory.cfm?uuid=AF9F10EC-18FE-70B2-A82949C5A24271A8
― James Mitchell, Monday, 29 September 2008 20:27 (fifteen years ago) link
yay! mission accomplished!
― dell, Monday, 29 September 2008 20:27 (fifteen years ago) link
Let's keep in mind that "Main Street" was directly incenting the banks in all this. Whoever blinked first was going to see their shares dumped. Fuck just blaming Wall Street - Wichita is just as culpable.
― rogermexico., Monday, 29 September 2008 20:28 (fifteen years ago) link
"We had to destroy that village to save it. From socialism!"
I'd gather most people agree with Nader, but people are too lazy to take action to work for society on any level other than -maybe- sometimes getting off the couch to vote once every four years for the president. IT'S UP TO US PEOPLE. LET'S TAKE 2 THE STR33TS. first we'll take whole foods, then the G8 summit. i need some vegan burtos man
― sturt banton (burt_stanton), Monday, 29 September 2008 21:07 (fifteen years ago) link
Morb's America is sort of like the Kingdom of the Now and Not Yet.
― Eric H., Monday, 29 September 2008 21:11 (fifteen years ago) link
If the bailout passes and it doesn't help, congress will be blamed for passing it.If the bailout passes and it helps, congress will still be blamed for passing it.If the bailout doesn't pass and things go to shit, congress will be blamed for not passing it.But if the bailout doesn't pass and things don't go to shit, only then will congress actually receive any credit for not passing it.
― Everything is Highlighted (Hurting 2), Monday, 29 September 2008 21:13 (fifteen years ago) link
But if the bailout doesn't pass and things don't go to shit, only then will congress actually receive any credit for not passing it.
that is why we have checks and balances and a two-house legislature!
― El Tomboto, Monday, 29 September 2008 21:16 (fifteen years ago) link
I mean congress' ultimate goal should always be to retard the executive branch, and vice versa, this is a nation founded on fairly conservative principles that unilateral govt action is bad news
― El Tomboto, Monday, 29 September 2008 21:17 (fifteen years ago) link
Their inaction this past week has allowed the market to finally incorporate known problems into market valuation. the worse the dow dives the better off we are for the long run IMO
― El Tomboto, Monday, 29 September 2008 21:18 (fifteen years ago) link
If the scarier claims floating around aren't actually true, then I agree.
― Everything is Highlighted (Hurting 2), Monday, 29 September 2008 21:20 (fifteen years ago) link
the more i repeat aloud to myself what the plan entails the more i become opposed to it and glad it tanked.
banks made a lot of risky bets that failed, and now want the government to magically make those bets profitable by buying them off at a rate to be plucked from the air. the banks get away clean and the taxpayer is left holding a bunch of dirty paper that may never be worth anything. agreeing to a bunch of lefty controls doesn't seem to cover for the central conceptual shittiness of the plan.
the ownership-stake plan seems like a better solution to me.
― goole, Monday, 29 September 2008 21:21 (fifteen years ago) link
eh the market has really only incorporated the the slim probability that the gov wont save it
― \\\\\\\\YES//////// (ice crӕm), Monday, 29 September 2008 21:22 (fifteen years ago) link
The market has not yet incorporated the possibility that government salvation won't save it
― Everything is Highlighted (Hurting 2), Monday, 29 September 2008 21:26 (fifteen years ago) link
Their inaction this past week has allowed the market to finally incorporate known problems into market valuation. the worse the dow dives the better off we are for the long run
Can you explain?
― Alfred, Lord Sotosyn, Monday, 29 September 2008 21:26 (fifteen years ago) link
If they were true, then DJIA should have sucked a lot more wind after the house blew up the plan. There is plenty of business in this country that doesn't necessarily need to rely on i-banks for capital. Tomorrow is a bigger day, as Tom Wolfe noted, since it's a hedge fund gate. We'll see. I am disinclined to believe Hank or Ben's prophecies when both of them have made rather transparent their disdain for the idea that they are accountable to anyone.
― El Tomboto, Monday, 29 September 2008 21:26 (fifteen years ago) link
TOMBOT OTM.
Tomorrow is Bloody Tuesday, a redemption fest for HFs.
― Dandy Don Weiner, Monday, 29 September 2008 21:32 (fifteen years ago) link
If they were true, then DJIA should have sucked a lot more wind after the house blew up the plan.
Hogwash. If the market accurately reflected foreseeable crises in the near future it would have tanked a long time ago.
― Everything is Highlighted (Hurting 2), Monday, 29 September 2008 21:33 (fifteen years ago) link
markets are still betting congress will get something done - theyre just not quite as sure as they were before
― \\\\\\\\YES//////// (ice crӕm), Monday, 29 September 2008 21:35 (fifteen years ago) link
Alfred, I believe that the necessary adjustments will either have to be taken sooner or later, and the "later" option puts us on a path to a Japan-style decade of recession and stagnation. I'd rather just cut the foot off now.
― El Tomboto, Monday, 29 September 2008 21:36 (fifteen years ago) link
The paper this morning was saying the hedge funds are next, people are cashing out so they have to sell assets and this going to send the markets further down, but Tom is right, there's whole segments of the economy that rely on cashflow, supply and demand and not credit and capital investment and they will keep going, they'll feel the bumps but by an large they will keep going.
― Christopher Blix Hammer (Ed), Monday, 29 September 2008 21:37 (fifteen years ago) link
I feel as though all this will impact me in absolutely no way.
― Abbott, Monday, 29 September 2008 21:39 (fifteen years ago) link
Unless somehow fate finally kicks in and I have to start hooking it.
― Abbott, Monday, 29 September 2008 21:40 (fifteen years ago) link
I haven't checked the state of my mutual funds this month yet.
― Alfred, Lord Sotosyn, Monday, 29 September 2008 21:43 (fifteen years ago) link
If I wind up needing non-federal loans next year it could hurt me, although so far that's not very likely. It seems that consumer goods prices will be held down somewhat by sinking demand. I'm assuming crime will go up and government services will decrease. The job market may be still be very shitty in three years when I graduate. My parents retirement will probably suffer, although I don't know if it will be to the point that I'll have to help support them. That's in the non-worst-case-scenario, anyway.
― Everything is Highlighted (Hurting 2), Monday, 29 September 2008 21:44 (fifteen years ago) link
Is there a Rolling Mutual Funds Hit The Shitter thread?
― Alfred, Lord Sotosyn, Monday, 29 September 2008 21:45 (fifteen years ago) link
Ihaven't checked my IRA for the last 6 mos.
― Every Day Jimmy Mod Is Hustlin' (Jimmy The Mod Awaits The Return Of His Beloved), Monday, 29 September 2008 21:46 (fifteen years ago) link
and I just did lol
― Every Day Jimmy Mod Is Hustlin' (Jimmy The Mod Awaits The Return Of His Beloved), Monday, 29 September 2008 21:47 (fifteen years ago) link
Yeah, I pledged to myself not to check mine, although I have a ROUGH idea how ugly it is.
― Everything is Highlighted (Hurting 2), Monday, 29 September 2008 21:49 (fifteen years ago) link
my company chose this week to transfer our 401ks from massmutual to fidelity; maybe a good choice, but we're also locked out of them all this week.
― akm, Monday, 29 September 2008 21:50 (fifteen years ago) link
I think my 401(k) is beating the national average! And that is the only good news.
― i am the small cat (HI DERE), Monday, 29 September 2008 21:51 (fifteen years ago) link
yes, Congress will definitely get something done. but the GOP wants to play footsy with the credit markets for a couple of days by faking Democrats into voting for something that they said they'd vote for too. their little game of chicken is to force more Dems in opposing districts to vote for the thing that, while elsewhere pushing the meme that Dems are obstructionist/responsible for the failure.
― gabbneb, Monday, 29 September 2008 22:08 (fifteen years ago) link
in the meantime, people like Don mouth GOP talking points about how Pelosi is responsible for their little stunt
― gabbneb, Monday, 29 September 2008 22:09 (fifteen years ago) link
Your little lady can defend herself just fine without you puffing your chest.
i'm not 'defending' Pelosi, though of course you would frame it that way, i'm telling you to stop spouting bullshit
― gabbneb, Monday, 29 September 2008 22:11 (fifteen years ago) link
http://www.nytimes.com/2008/09/28/business/28melt.html
a few dudes going buck in a room bring down aig / goldman exposed / feds step in
great article!
― \\\\\\\\YES//////// (ice crӕm), Monday, 29 September 2008 22:11 (fifteen years ago) link
Don's Pelosi comment was wrong, but, still, why are you in such a hurry to defend these guys? The whole pack of'em got us in this mess in the first place, so excuse me if I'm not being so charitable to Barney Frank and his rapier wit.
― Alfred, Lord Sotosyn, Monday, 29 September 2008 22:12 (fifteen years ago) link
sorry, Al, I know you believe the "whole pack of'em" bullshit just must inherently be true, but it's wrong
one party voted for this. one party voted against it. simple as that.
― gabbneb, Monday, 29 September 2008 22:14 (fifteen years ago) link
of course we've seen the House GOP being political babies before, haven't we?
http://thecaucus.blogs.nytimes.com/2008/08/05/house-republicans-continue-vacation-protest/
― gabbneb, Monday, 29 September 2008 22:15 (fifteen years ago) link
and oh for the good old days
http://politicalwire.com/archives/2008/08/06/gingrich_threatens_government_shutdown.html
― gabbneb, Monday, 29 September 2008 22:16 (fifteen years ago) link
Frank is chairman of the House Finance Committee, gabbs; whether he deserves blame for this incarnation of the bill, he was in charge as this meltdown occurs, and received thousands of dollars from these banks. What's so hard to understand? You're goddamn right I'm blaming everyone.
― Alfred, Lord Sotosyn, Monday, 29 September 2008 22:17 (fifteen years ago) link
hey guess what this thread is about economics
― El Tomboto, Monday, 29 September 2008 22:17 (fifteen years ago) link
and we alllllll pay.
― Alfred, Lord Sotosyn, Monday, 29 September 2008 22:18 (fifteen years ago) link
it's just nice to see congress acting like itself again after seven long years of weak sauce intermittently broken up by lockstep with the administration
― El Tomboto, Monday, 29 September 2008 22:18 (fifteen years ago) link