Doug4.7
Hartselle, AL, USA
Senior Member
Joined: 10/02/2003
View Profile
|
Can we do this for all the other common topics? Say one thread for jokes, one thread for songs, one thread for games, one thread for college football, one thread for pro football, one thread for TV shows, one thread for movies.....
We can get this forum down to maybe 5-10 threads total that way.
|
Cloud Dancer
San Antonio and Livingston TX USA
Senior Member
Joined: 06/08/2001
View Profile
|
No guts, no glory...?
I got skeered, and distributed all our money into several FDIC-guaranty establishments. Today, life is less stressful.
Willie & Betty Sue
Miko & Sparky
2003 41 ft Dutch Star Diesel Pusher/Spartan
Floorplan 4010
Blazer toad & Ranger bassboat
|
my3sons
Raleigh, NC
Senior Member
Joined: 02/08/2003
View Profile
 Offline
|
I calculated the bailout to cost each taxpayer $2,333. Given that I have a family of 5, my cost is $11,667.
Where do I send my check? Seriously, I would rather pony up $11,667 today than be standing in a soup line with my family in 4 months.
We don't have a choice. Hopefully, a new deal will be crafted such that we, the citizens, get stronger equity stakes in the banks as a result of this bailout.
1 dog, 3 sons, 1 wife
Life is good
|
JPhelps
SE of Monkeys Eyebrow & Possum Trot
Senior Member
Joined: 10/01/2002
View Profile
|
My take is that the fed should just send each taxpayer $2,333 and let us put it into circulation. It would help the liquidity crisis just as much as giving it to the banks. That would solve two problems really, the liquidity crisis and it would get rid of some of those bank managers that like to gamble with other peoples money.
|
dave Stringham
I was hoping you'd know, California
Senior Member
Joined: 07/13/2005
View Profile
Offline
|
Before the thread was closed, topflight asked about what credit crunch, he got 3 offers in the mail today for credit cards.......but what he is missing is that businesses both large and small cannot get their standard lines of credit that they use daily as they leverage their cash flow. Granted, individuals who are making payments to the bank whether credit card, car payment, or house payments certainly contribute to the banks income, but I am thinking that the amount of money that moves between banks in the business community is staggering. I believe Capps is right, we need to bailout the banking system, if we continue on this line, soon banks will cease to function, the checks my company pays to buy materials will not be honored, the checks that vendor paid the manufacturer will not be honored, and the checks that manufacturer paid their employees will not be honored and this just snowballs....
|
|
|
JPhelps
SE of Monkeys Eyebrow & Possum Trot
Senior Member
Joined: 10/01/2002
View Profile
|
It doesn't matter where the money comes from as long as it gets into circulation. It can come from individual taxpayers just as well as it can come from the banks. As long as people spend the money it will get to the banks as deposits. Didn't you watch the cartoon on the news that explained it all?
Basically what fed was geting from the banks for their 700 billion was a post dated IOU that would come up for review by congress at the end of the IOU's 5 year term. Not for repayment, just for review. They can do that for taxpayers as well as they can do it for banks.
There are too many banks around anyway. The little berg up the road from me isn't even large enough to have a post office, I don't think it is even incorporated, but it has 3 banks, 2 grocery stores, 3 gasoline stations, etc. Why do they need so many banks?
The market is already up over 2% this morning. I think the lack of trust in the federal government is just as much a factor in the markets volatility as the lack of trust in wall street. Since the H.R. voted down the bailout it has restored some trust in the government, and therefore some trust in the market. Losing those large banks will be no problem to the economy as long as people trust the market enough to spend their money. The large majority of taxpayers don't trust wall street banks or the federal government. The action yesterday restored some of that trust.
|
Kajtek1
CA
Senior Member
Joined: 12/04/2002
View Profile
|
2 days ago I got CC offer from Washington Mutual.
Pessimist sees dark tunnel, optimist sees a light at the end, realist sees lights of coming train.Engineer sees 3 idiots on the tracks.
|
8.1 Van
Millstone NJ
Senior Member
Joined: 03/20/2008
View Profile
 Online
|
"My take is that the fed should just send each taxpayer $2,333 and let us put it into circulation."
FKA PSDExcursion
2002 Chevy Express LS 3500 8.1 155" WB passenger van 3.73 posi (GT4/G80)
41 Ft 2003 Thor Citation 41-ZBSR TT w/ Hensley Arrow
|
topflite51
In The Desert of Nevada
Senior Member
Joined: 05/13/2004
View Profile
|
dave Stringham wrote:Before the thread was closed, topflight asked about what credit crunch, he got 3 offers in the mail today for credit cards.......but what he is missing is that businesses both large and small cannot get their standard lines of credit that they use daily as they leverage their cash flow. Granted, individuals who are making payments to the bank whether credit card, car payment, or house payments certainly contribute to the banks income, but I am thinking that the amount of money that moves between banks in the business community is staggering. I believe Capps is right, we need to bailout the banking system, if we continue on this line, soon banks will cease to function, the checks my company pays to buy materials will not be honored, the checks that vendor paid the manufacturer will not be honored, and the checks that manufacturer paid their employees will not be honored and this just snowballs.... I still have to ask that very same question, as I believe a significant amount of this so called crisis was planned. The declaring that there was a crisis 3 days before Congress was to go into recess was planned. I have read recent articles calling Paulson nothing more than a day trader, I believe that to be true. Probably the real reason why THE PLAN originally only had 3 pages. If you have ever known successful day trader's most do it by the seat of their pants, thanks but no thanks. They had nothing worked out other than the fact they were going to spend 700 billion dollars. That is quite some plan. A bailout of some kind is probably needed and maybe if they take their time they will come up with one that is more palatable and easier for us taxpayers to swallow without choking on it. In addition to all of this, today the Federal Reserve has supposedly announced that they are pumping an additional 600 BILLION dollars into the economy, one has to wonder if this was part of the original plan that they didn't tell us about. More FREE money. I wish they would send a couple of million my way I need some wallpaper. They have somebodies best interests in mind, BUT it is not the American taxpayer, and in any plan THEY need to be first and foremost, not some investment banker nor some CEO of a mega corporation. JMHO and I'm sticking too it, even though it has cost me on paper over 15K this past week.
* This post was
edited 09/30/08 02:22pm by an administrator/moderator *
 David
Just rolling along enjoying life
|
dave Stringham
I was hoping you'd know, California
Senior Member
Joined: 07/13/2005
View Profile
Offline
|
Maybe you are right, this was planned, there is no crisis, so congress went ahead and took a holiday.....which if true, is very disappointing. I know I have had to go to work on Christmas when an emergency arose. I would think that those who run our government would behave the same. Whether a crisis or not, I think this is a real issue where the government does need to step in vs wasting their time on whether they should regulate the calorie intake of those who elect to eat fast food. Regs need to be put in place so those who dont qualify for a loan cant get one, laws need to be in place so when a major business tanks because of poor managment, the CEO doesnt walk out with a fat pay check while those who trusted him suffer because their life savings are gone and they lose everything and jail sentence is certainly required if proof can be provided that shows those in management did just that. In fact, there are laws, Enron helped with that, now why these banking CEO's can get away with it is beyond me. The banks have to be solvent, people need to trust them and not hoard their cash in a mattress. Business has be conducted and lines of credit for those who deserve it extended.
* This post was
edited 09/30/08 10:35am by dave Stringham *
|
|
|
|
