That’s business and that’s courage:
http://money.cnn.com/2008/10/06/real_estate/Drastic_plan_slashes_mortgage_costs/index.htm?postversion=2008100616
Think about it Bush, Paulson, Bernanke and whomever is responsible.
Take reponsiblity
Sollten Sie meinem Blog gefolgt sein, wissen Sie daß ich von dem Bailout überhaupt nichts halte.
Offensichtlich nützt er in der Realität ebenfalls nicht, alle Bestrebungen speziell der US Regierung unter – (ihrem unfähigsten Präsidenten ihrer Geschichte) zerschellen an der Wirklichkeit.
Korrigiert durch eine unsichtbare Instanz namens Markt. Es wird geschrieben der Markt hat versagt. Genau im Gegenteil, der Markt zeigt das es Realitäten gibt, die man mit noch so viel Geld nicht auf Dauer verschleiern kann. Jedes Ding hat seinen Wert, in verschiedener Hinsicht, selbst anscheinend gleiche Dinge können aber unterschiedliche Werte haben. Im Grossen Monopoly ist die Realität durch „zuviel“ Geld verschleiert worden. Nun erfolgt mit unglaublicher Wucht der Umschwung.
Ich schlage vor Sie schauen sich mal folgendes Buch an: Systems Thinking. Es ist ziemlich „erhellend“.
Haben wir das Gröbste ausgestanden? Nun diese Frage wird uns die Zukunft beantworten.
Ich für meinen Teil vertraue der Stabilität des Marktsystems. Wir müssen allerdings hinterfragen, ist vom Marktsystem genügend abgedeckt? Da sehe ich für Alle Politiker, Wirtschaftseliten Ihnen und mir den weitaus größten Handelsbedarf.
Ich sehe, daß eigentlich zu wenig abgedeckt ist. Man betrachte die völlig unzureichende Absicherung von Unfällen in AKW, man sehe wie man die Umwelt ohne Sanktionen überstrapazieren kann. Ich bin strikt dafür auch Umweltgefährdungen in den Markt einzubeziehen. Wir brauchen einen Wert für „gute“ Luft, gesunde Böden uvm. Sollte dieses System kollabieren, wird es auch für uns Menschen keine Lücke mehr geben. Man beachte: Unser exponentielles Wachstum kann niemals von Dauer sein. Es gibt Grenzen und die werden bei exponentiellen Wachstum immer erreicht. Vielleicht sollte uns der derzeitige Abschwung da eine Lehre sein…
Kurioserweise habe ich in diesem Jahr einige weitreichende Entscheidungen getroffen. So bin ich gerade dabei meine Heizung auf Holz umszustellen. Ich fahre weitaus weniger Auto, (dafür Bahn ) und mit reichlich weniger Aufwand auch Motorrad. Damit fahre ich auch bei Kunden vor, und jedes Mal muß ich grinsen wenn ich verzweifelte Autofahrer auf der Suche nach einem Parkplatz sehe. Offensichtlich arbeitet der Markt, es regelt sich über den Preis. Was lese ich heute in der Zeitung, Zweirräder werden mehr und mehr verkauft speziell Roller… 2-4 l /1000 km vs. > 10 l /100 km. Die Wahl ist offensichtlich klar. Wie wäre es mit einer zweiradfreundlicheren Einstellung?
Jeder Eingriff der jetzt vorgenommen wird, könnte negative rückwirken. Wie heißt das alte Sprichwort: „Der Weg zu Höllle ist mit guten Vorsätzen geplastert.“
Es kann sein das gerade die Aktionen der „Eliten“ im Augenblick negative rückgekoppelt wirken. Bitte beachten Sie auch wiewenig derzeit noch so große Einsätze bringen. Es fing an mit der Verstaatlichung von „arg“ Großen Brocken und kumluliert mit dem großen Failout Plan.
Ich schlage folgenden Vergleich vor:
Stellen Sie sich vor einen Dorf in den Bergen, immer gefährdet durch Lawinen und Muren. Wo kann man mit geringstem Aufwand das Dorf sichern. Mit Mauern vor dem Dorf oder mit Verhauen oben in den Bergen? Nun könnnen aber auch die Sicherungssysteme am Berg versagen, somit bleibt nur eins da man sich der Wucht nicht stellen kann, man muß sie ableiten und somit ist es allemal effizienter Gräben zu ziehen und speziell natürlich auch in diesen nicht zu bauen und den Dingen Ihren Lauf zu lassen. Funktioniert ziemlich eindrucksvoll.
Ich denke im Augenblick wäre es gut, umzuleiten statt sich dagegen zu stemmen. Das Erste verspricht sicherlich weitaus mehr Erfolg….
Dazu werde ich meiner Bank heute einen Vorschlag unterbreiten, mal schauen….
Paulson can not be respected as not being in an interest of conflict. I can not understand how that was overseen, but now here we go the next open question:
„The irony is, Paulson will not be able to find asset managers to run this that don’t already have distressed assets on their own books; there’s no one else to do it,“ says one source who is closely following the talks. This person warns that Paulson has to be careful in how he brings those people in, ensuring there are strong enough firewalls and other safeguards to avoid a further public backlash: „If Main Street was already concerned about writing a big check to Wall Street, imagine how they are going to feel when they hear the government is now hiring the guys who created the problem in the first place, and, by the way, their firms will benefit?“
Paulson can not be trusted and no one of the other asset managers. Do they grow on trees? Hardly….
So whom to trust?
Could it be?
The most speacking is IMHO this:
„One of the least attractive elements is a section designed to curb executive pay at banks that participate in the bail-out package. These include limiting stock-related pay and banning ‚golden parachutes‘ for executives.“
So enjoy….
Anything unclear about bailout?
It’s a shame especially for all our economy „leaders“. There „leadership“ obviously is those of the captain on the Titanic, just move faster to win the blue band. I’m a bit proud on our (Germany) politicians, first time in ages. After they have got the promises of the private sector, the private sector does not want to stick to that plan. I guess they were thinking, let’s do like the Americans, let the tax payer pay dearly. Well at least this was denied. The danish governement and the private sector have an agreement with which I could live (although I think the private part gains more from it (danish solution)
So I’d take the private bank in responsibilty. If it’s true that in Amercica Bankers are liable with the private property, then I wonder why nothing has happened in that regard. IMHO it’s very easy they’ve gained most and this was not by work but by chance. The sold as many credits as they could and have initiated the failure of them. Then those having gained from immoral contracts, have to bear the consequences.
Let’s see what’ll happen….
To accept the failout plan. despite the wish of the majority. What’s your turn now?
At first you are the voter and you have voted for the curren congressmen and women. As you know they have to „obey“ their conscience. So it’s their right to ignore your wishes.
However they are obliged to serve you also. If you feel they served you well, you must accept their choice. If you don’t feel served well, you must stand up and outvote them. I for my part would outvote them. They have lied to you mor than once and hardly anything they deciced the last few years have brought anything good to America. They said yes to the Iraque war (which was founded on lies of His Insanity), they did not impeach His Insantiy after that and they did not impeach him after he has to admit to allow torture as an interrogation means. He has shown over and over again that he did not have clues about things he decided.
The chances are very slim he’s got that this time. Noone have come up in Congress with an readl alternative plan. So they all seem more or less accept the lies His Insanity and crew have given them.
Now even McCain or Obama havn’t come up with an alternative. So if you really feel that this was all ok, then you can vote for any of them. If you do not feel it was ok, then you have not choice but not to vote at all or vote for some other party. There are other parties, you may loose your vote, but at least you set a hallmark about your wishes. Let that be enough and none of them will get voted. Very slim chance, but still there it is.
I wish you better luck with your next president.
Heute wurde die Verabschiedung als „Durchsetzen der Staatsräson“ kommentiert.
Wenn man denn möchte fragt, sich ob es die Staatsräson zulässt Initialtoren von Schneeballsystemen zu sanktionieren. Es wird sich in Kürze zeigen, daß dieser Failaout Plan
fehlschlagen wird. Vielleicht hat man sich ein paar Monate oder eher wahrscheinlich nur ein paar Wochen gekauft. Da nichts weiter daraus folgen wird, ist das Resultat schon absehbar. Geld weg und noch größere Misere.
Die politische Führungin Amerkia hat nicht „gewonnen“ sondern einen ihrer letzen Pyhrussiege errungen…
They did it, they accepted the Failout plan. Now let’s see what bad comes from it…
That’s democracy also, one must live with it. Howerver if you do not agree you do not have to vote your congressmen/women again. I’d know what I’d do.. Are you brave enough to stand this round?
The Failout plan can not expected to work with a acceptable certainty. In fact I’d bet 1:10 it’ll fail.
But if you throw out the money now , you have nothing else if this failout plan fails. It’s high time to prepare for a recession phase. The prices for home equity will fall, maybe crumble. At least down a third IMHO. That will distroy a few Trillions of value, this fall can not be held with 700 Billions.
So keep the money, now and see how to spend it one something which will work with higher probability. Building of houses will dry out, however the US infrastructure needs some overhaul.
You have to face the fact that Oil is sparse, and you have to face the fact that Water is sparse also in many regions. In the forseeable future California and especially Las Vegas will suffer under water shortage. You’ve to come back an invest in your own country in the producing industries. The cars are build sloppy, the houses often also, this sloppyness will cost you dearly.
You can not help, but the chinese have over a trillion US-$ to spend, you must be prepared that they will buy cheaply if not now than just a bit later. Use the money for an „american“ solution. Tha means give the people the means to help themselves. That means „fair paid“ jobs, „fair prices“, you need as every developed country craftmanns which can build, repair and maintain the ideas engineers invent. So spend money wisely on education for your children and grown-ups also.
It’s not worth hanging to just one plan, (which in fact is none). Search for alternatives, discuss them and then make an educated choice. Currently you give yourself none but one choice and that’s exactly as useful as none plan at all. If in doubt, do nothing, that’s at least an alternative….
A…. word
Food for thought, for people caring yes, for the others….
Yeah I chilled out yesterday and read this 450 pages. To be true I have read the half. The poison is just layed out on the first 110 pages or so. I can agree with that plan to 0.15714 %. (Come back to this figure later)
The meshed everything together, to „heal the world“ be it some tax relieve stupidity, or some „writing “ about power from regenerate means. If I understand this paper correctly the whole is what will be decided upon. I can why they handle it that way, but I just disagree.
The „plan“ is still absolutly unacceptable (at least it would for me as Congress man). Sure there are definitly improvements, but the base line still is bailing out 700 Billions to cover „troubled assets“ more or less to the mecy of Mr Paulson (at least currently).
Now let’s just point out a few „oversights“.
P 9 (e) Prevent Unjust enrichements. …. including by preventing the sale of a troubled asset to the Secretary at a higher price than what the seller paid to purchase the asset.
Ok with that Mr Paulson get the right to pay for junk exactly as for non junk. So the ceiling is 100 the worth of the papers maybe 30 or less. Unjust enrichment, „don’t try me devil“….
This stuff is repeated on p 10 3). Shame on you if you find something disturbing you.
Very nice Sec 103 (1) protecting the interests of taxpayers by maximizing overall returns and minimizing the impact on the national deb.
Could it be in the interest of taypayers to give out 700 B. ? The while thing spreads FUD in every comma. The implication is It’b better to give out 700 B now then to suffer … what?
I spare you to cite (6) in that thing, which just adds sugar for the „not to reach“. If you don not have bread eat some cake…
Then follows the improvements I mentioned. At least Paulson has to report to the congress has to work with some overview etc. Howerver we come back to Paulson a bit later ….
Now again comes something disturbing. The secretary should decide whom to put under stricter regulations, but later the mention also that it’s up to the secretary to relax other regulation on coroprations taking part with this program. You got it. He has to justify himself, but he can decide whom to support and whom not….
Now we come to the mentioned rols of Mr Paulson Sec 108 Conflicts of Interest.
Heavens the secretar itself falls under this, he can not be trusted in any way with decisions here.
It’s absurd, the secretary full in favour of helping his fellow friends in the banking sector should take care not too choose someone not beeing in a conflicts of interest.
The only one you can trust the secretaries position is an investment banke, standing strictly against this „plan“, one may ask him/er if he/sh is „willing to serve“. Paulson is way too willing to serve ….
Then comes anothe small improvement. Putting caps on the income of the highest paid executive officers, but just as long as they are on this plan…. Hear, hear
Sec 112 ask other countries to help with this program… Well I guess we’ve taken our share of foul debts, but what shall’s one can always try….
Now comes ss a „wonderful“ part Sec 113. (1) Minimizing negative impact „The Secretary shall …. use … under this Act in manner that will minimize any potential long-term negative impact on the taxpayer…
It get’s a bit worse in (2) and is overtuned in (3) by a few magntitudes.
(3) Private Sector Participations. The Secretary shall encourage the private sector to participate in purchases of troubled assets.
It’s so insane that one can not believ this was written down. Paulson should encourage „his“ fellow people to take part. What part should they pick. One could imaging the worst… Do you believe that. They are encouraged to „cherry picking“ and that’s about unjust enrichement.
Then it goes a long way on how the plan should be decided upon, who else may supervise it and the like.
Sec 119 is another improvement, named Judical Review and Related Matters. That’s appropriate… IMHO.
It goes to some Special Inspector General, which I have no idea about. I hope the congressmen and women do…
Then comes a congress oversight panel, that’s another improvement
Then after another 10 or so pages we strand on p 84 and there we have Sec 127 Cooperation with the FBI. In the next 4 lines everything about criminal background is written down.
Guess that 110 pages and 4 lines about „taking care of the guilty“. It the only time something negative is written „fraud. malfeasance…
Now think about the secretary — how was his name . Ah yes Paulson, ex-CEO of Goldmann Sachs….
You bet throwing out will have impact on the inflation. No way read Sec 136 (c).
Sec 302 is again sugar for the Congressmob, it’s about tax treatement of compensation of the corporations taking par in this program.
After that we com to a completly unrelated Divison B part Engergy Improvement and Extension ACT of 2008.
I’ve not cited every part and I’m sure I missed some real important things. I do not know enough about how decisions are cared out in congress and how and if one can repeat them. Howerver in some of the pages I mean to understand if the congress has decided this will not be possible to take back. I can not understand this.
Now at last let’s come back to the 0.15714 %. Well the figures of Div B and C cover around 1.1 Billion, that sounds „reasonable“. Div A asks for maximal 700 B. So 1.1/700 * 100 = the magic number above.
All in all my objections have not been stilled a bit. The plan is not a plan it’s a „Golden Parachute“ for gamblers. Paulson itself can not take the lead in this work. So in that way it’s absolutly beyond repair.
I hope Congress decides against it and start looking for real enhancements. Rule one should be let, those pay who have gained through this sham.
Guess what the Failout plan has now extended to 451 pages!!! They want to vote about it Friday. Who the hell should be able to read and comprehend. None, so the new strategy is making much word without any base. Hell what’s going on over there. Are they follwing His Insanity?
It’s mass hysterie, fraud, disinformation, misinformation, lies. Hey Congress men and women, do you know whom want to make you act to his „pipe“?
Do you remember the last years, and what is has brought?
Don’t let you be fooled by the sheer mass of it. Say no, stick to it and make and investigate alternatives.
For now say no, till the water clear up.
Just the last page does not give much hope:
“ Amend the title so as to read: ‘‘To provide authority
for the Federal Government to purchase and insure cer-
tain types of troubled assets for the purposes of providing
stability to and preventing disruption in the economy and
financial system and protecting taxpayers, to amend the
Internal Revenue Code of 1986 to provide incentives for
energy production and conservation, to extend certain ex-
piring provisions, to provide individual income tax relief,
and for other purposes’’.“
Oh, my god the all and one plan for all an any problem. Hell this gets even more ridicoulous every minute…..
Oh, I’m sorry my brain is sometimes a bit „absent“ especially if I hear about the Failout plan.
Of course they need the 450 pages to strike dead those against it — stupid me…
Don’t despair.
Go here and force f(b)ailouts on you:
http://www.buymyshitpile.com/
End of your problems, maybe
It seem quite a few nerves were laid open
See this
http://www.theybrokeityoubuyit.com/
Astonishing….
From
http://biz.yahoo.com/ap/081002/financial_meltdown.html
„This is what we need to do right now to prevent the possibility of a crisis turning into a catastrophe,“ Obama said on the Senate floor. In Missouri, before flying to Washington to vote, McCain said, „If we fail to act, the gears of our economy will grind to a halt.“
It shows that none of the candidates have their own idea about economy. If it’s the economy stupid, how could you vote any of them? If one of it has stand up with another plan, just a bit less insane than the current, I’d know whom to vote…
But you still have the vote. You do not have to vote any of them… It would deserve them well to be not voted at all….
See http://en.wikipedia.org/wiki/U.S._presidential_election,_2008
And guess who has taken the most money of them all Obama and McCain, you can’t see the conflicts of interest? Money has financed them their election campaign, money will buy them the presidents chair?
I repeat myself. None of them has stand against it, none of them had offered an own plan, both expect you to choose them……. It’s up to you to write your congressman not to vote for them. They may or may not choose to follow you, but you’d tried and stand up. You may fail standing up but you can do so in pride. You can fail in shame, Pick your choice
Senators passed the failout plan, I hope they fail miserably in Congress …
It’s a shame that no other plan is discussed. Indeed it seems every other plan seemed to be
swept under the carpet.
If anyone believes that this can be „healed“ with more money, you’ll have a harsh awakening, and
easily another trillion down the drain, for nothing.
US citizens emigrate to your nothern neighbour…..
You can come back in a few years in a devastated region, maybe then it’s high time to spend again some money in Jeeps, you may need them on the dusty roads. Don’t expect you can trust any bridge…
And if you come into the regions of those gangster, you may have some fun driving through their nice mansions…
Keep in mind both McCain and Obama have said yes. So you may have seen the worst president in the history of the US (His Insanity), one could think it won’t get worse…. — think again.
Unverblümter geht es wohl kaum noch:
http://de.biz.yahoo.com/30092008/3/analyse-us-wirtschaft-schockzustand.html
Was sind Politiker Schoßhündchern für Spieler? Die Witschaft selber hat sich „reingeritten“. Immer verbaten sie sich Einmischungen der Politik, und nun?
Ich denke die Politiker sollten mal richtug unpopulär bei diesem Verbrecherpakt werden.
Politisches Scheitern? Ein Witz gescheitert ist die Wirtschaft und Politik in den letzten 5 Jahren und die „Wirtschaftseliten“ wissen nichts besseres als nun den schwarzen Peter den Politikern zuzuschieben.
Es gilt als nicht nur
Manager = Feiglinge.
Manager = Erpresser = Feiglinge.
Als Politiker wüßte ich ganze was ich jetzt täte.
Warum stehen Sie nicht auf, und sagen mal ganz klar wer für diese Katastrophe verantwortlich sind, die Leute die auf Teufel komm rau, Geld geliehen haben und mit dem Geld dann „spielten“.
Nun tragen Sie halt mal die Verantwortung. Ich kann in den Aussagen nur ein sehen Alle Schuld von sich weisen und einen Dritten die Schuld zuzuweisen.
Die Politiker haben natürlich Ihre Scherflein daszu beigetragen. Sie sind nicht gegen Bush aufgestanden und haben dem Monopoly einhalt geboten wie sie es hätten tun sollen. Aber sie sind definitv nicht verantwortlich offensichtlichen Verbrechern Straffreiheit zuzusichern.
Guess what Mr Insanity itself does not accept the vote. And so he will fight for it. Hello you reach bankers, keep in mind to what extend his Insanity goes for you. I guess you can give him some job about Public relations. He just sings. „All is fine, anything is ok, the fundamentals of my employer are strong, it’s not darlk and I’m not afraid“. Should be enough for at leas a few Millions a year.
The horse was still alive, His Insanity does anything to realyl see it dead.
Just guess what the 700 Mrd were lost in one day and nearly regained the other day. The worlds still turning and business still has not collapsed. You want it to stay running. DON’T B(F)AILOUT.
Keep your heads up and „invest“ the money. Don’t burn it. Give it to the banking system and they will come back tomorrow asking for another 700 Mrd „round.“
Just say no. Don’t let Mr Insanity take you over again. Make suggestions on how to really cure the stuff and not just treat the symptoms
Als Kommentar in den BNN vonFrank Herrmann..
„Acht Jahr konnte sich George W. Bush auf sein republikanischen Fußsoldaten verlassen… segneten die Konservativen im Schnelldurchgang ab. … Es ist ein Aufstand der Populisten, der Sprücheklopfer. … Momentan sieht es so aus, als gehe im Kongress die Vernunft über Bord….
Was hat den „Fußsoldaten“ (wie kann man gewählrten Vertretern noch wenig Respekt entgegenbringen) ihr abnicken gebracht? Billionen an Ausgaben, Zehntausende hingemordete Soldaten. Wie soll man das anders bewerten als Disinformation, oder Lobbyismus?
Ich zitiere noch einmal „Vielleicht wirkt es wie ein heilsamer Schock, dass das Nein aus dem Kapitol den Aktienindex Dow Jones rekordschnell abstürzen lies.“
Wer hat den die Aktien verkauft die Abgeordneten, nein alle möglichen die schon fette Beute witterten. Da hatten sie es sich so schön ausgerechnet. Wir machen Sch… und lassen uns dand dafür noch gut von Allen bezahlten. Auch hat Herr Herrman wohl den letzten Tag verschlafen. Da ging es 4,6 % nach oben. Also wenn die 7 % ca 1 Billion „Wert vernichteten“ hat der „Rückschwung ca 400- 500 Mrd wieder „gut“ gemacht. Also machen die 700 Mrd gerad mal ca 6 Prozent im Markt aus. Da soll reichen? Da wird inhaliert und wieder rausgepustet und niemand hat gemerk, daß da etwas gewesen wäre.
Selten hab‘ ich einen weniger durchdachten Kommentar gesehen. Der in sich schon anzeigt, daß es nicht ums System geht sondern die Brieftasche einiger weniger darin. Offentsichtlich hat das aber schon viel zu lange Schule gemacht.
From http://biz.yahoo.com/ap/080930/financial_meltdown.htm
I cite:
„Because the government would be purchasing troubled assets and selling them once the market recovers,“ he said, „it is likely that many of the assets would go up in value over time. Ultimately, we expect that much – if not all – of the tax dollars we invest will be paid back.“
If it’s likely to make a profit why shouldn’t everyone take the chance? Or at least most of them, it‘ old good doing „buy low, sell high“. So let me say if the stuff bounces back why must it be bought from governement?
This is IMHO as clear, that he does not even see this contradiction. There are also a few assumptoins:
1) market will recover (well somehow, someday it surely will)
2) they get the assets below their value, and can wait long enough to wait for their recovery (let me ask why can’t Mr Paulson as private person wait for recoverey. If he’s spend 100 Mio he would not even notice that much less money. Does he own a few planes, boats etc.
3) it also implied that there will be some losses (may be/ may be not)
4) but buying them overprices would give those having collected this fould credits a premium. What should prevent them trying the same again?
I’m sorry but His Insanity simply does not get this things
Who is not going to start blaming whom? What are the rules for the elected. Do they just have to sit and nodding to whatever idiocy comes along. Who has lied to the parliament, it was Mr Insanity itself. Who declared that the Iraque war is too all good? Who has driven down all sane budget rules?
It was His Insanity. And who has followed nearly all in congres… Who has stand up against him?
No one, now the may see the light at the end of the tunnel. The Republicans and His Insanity, are accountable for that mess. Now, he got what he has deserved since at least five years.
So I ask you watch closely who’s not blaming whom, keep that in mind and see how the same people have done in the past…
http://www.nytimes.com/2008/09/30/opinion/30brooks.html?partner=rssnyt&emc=rss
Obviously leadership means just throwing out money to his guy. I wrote about why I’m against it and it is no plan at all it’s not doing anything to cure it’s just to borrow all sorrow under a mountain of money. Leadership != Money, so if David Brooks does not get it he’s in quite some trouble.
It’s dead it won’t stand up and run afresh. Don’t mess around with the failout plan any longer, take another way. If I read they are planning to „refresh“ the b(f)ailout plan I start shivering again. See my other entry on how I’d think you should proceed.
Well step one was a good one, but where are the alternatives. Just saying „No“ is not easy but not mind-bending also. So how to get out that mess. I strongly suggest to discuss drastic steps. At first it must be stated clearly who has gained most during this bubble. That were in fact quite a few but in the end it „stranded“ in the hand of the very rich. They got much reacher, than ever before. The money taken out by incompentent Middle , upper and highest management was way out of line. So
if you follow that, thos who have gained the most should not be taken and „give“ back. The proposal of Senator Sanders would be one alternative.
Howerver everyone taking part in this Monopoly, should take their share. So this means also those having loans they could not afford, have to feel this. But also those whow have sold them this „credits“. They must have seen that many can not affort it. So get to them and let them pay also.
Then you need an „american“ solution. It’s clear that you can not go the chinese way or maybe even some „european“ way. Especially in Germany and France the politics stil have way too much to say and decide. So you can not just go and b(f)ailout everyone. The LB way is harsh but they have taken their chance and they loosed. However the only thing you should concentrate on is letting those not having spend in this monopoly their money. So you must not look after foul credits but those „savings“ people have done. If they spend it in falling bank, well that’s bad luck, every investement can to wrong. Not every idea turns out to have some value, failure must be allowed. I’m aware the line between failure and deception is a very thin one. But betting on ever growing hous prices is way beyond failure it’s deception.
So what other things can you do. Obviously you need not worry to much about Wall Street, they have had their fun, now let them having their hangover. See how much decption was there and you’ll cover quite a mass of the losses. But now what’s left for the Governement. The answer is :
Spend money on your infra-structure, spend money on your people. As everyone knows the infrastructure is terribly wrotten, this was money spend ages ago, but then let down by givign them away. Take them back and build them anew. Ten thousands of bridges are wrotten, the streets are bumpy. Then start getting away from oil, see that you get a functioning railroad and get a functionaing local traffic system. Do encourage people to go by bike, or maybe scooter. You space is sparse, you can not affort just let it be used up by 3 tons of metal. Spend money on education, teach children and grown-ups. Make it’s your primary task to get rid of debts instead of piling layers of debts over other layers of debt. Just imagine you hadn’t all the debt, how much could you spare. All the interest could be not just be to whomever owns the stuff (which you’ve spread all over the world) but things which.
Do start on a sustainable economy. You can not use the whole world as your „money lender“, someday you’ve to pay back, Ask yourself if the billions spend on unsustainalbe stuff really makes any thing better? Get rid of your enormous spendings on weapons, defense against weapons. Forget your star-wars. Spend on thing preserving life, not on things destroying it..
Get back to „civilized“ manners, All Guantamos and „other“ ways of torture must driven back. Those having initiated that must take the responsbility and it would not harm them to see jail from the inside.
So use this breakdown, and don’t repeat your former errors.
If you’re willing to spend 700 Mrd then do it with horse sense.
Stand up take the banner for freedom and democracy. Say no to dictatorship, say no do torture simply learn to say not to quite a few other things. Stand up now or … fail
Netherlands/Belgium/Luxemburg
Hypo Real Estate
at least here the banks having started this gambling take responsibility.
Now according to some comments from Paulson, McCain, Merkel, Ackermann you name them.
„There is no problem“…..
As written before he sketch was done. Now they all go wild:
Bingeley (F)ailout
Bis auf das folgende Fehler im Ergebnis (SPD 19 Prozent zuviel, CSU ca 43,7 Prozent zuviel) geht die Wahl in Bayern schon in Ordnung. Leider ist die Wahl in Österreich voll daneben. SPÖ zu viel, ÖVP zu viel, FPÖ viel zu viel und BZÖ viel zu viel.
Und die Interviews am Wahlabend waren selbst im Verhältnis zu sonst noch schlechter. Wie heißt es doch so schön „Schlimmer geht immer“ — pass scho‘
the Failout plans looks for around 700 MRD, but still and without any word
another 25 Mrd were given to the GM, Ford, credits for low consumption cars.
Guess what this car managers are not able to manage also. Their business is to build cars people want to buy. They failed and got b(f)ailed out also.
You got the smell?
The Big-Bailout was minomed, while getting through that mess again I realized.
It had to be write as the Big-Failout
Or is it Fallout?
Bad, the link is gone, so be it. No idea how to get it back. Sorry guys…
Yes Paulson and Bernake surely knew what’s going on. Their only plan is to avoid that, and read the fine print „it’s the end of your econmic system“. Let’s assume it’s true. Then the system has proved to be unsustainable now. It does not mean it will show this unstustanability later. But guess one enlarges it’s life artificially . Will the end be more merciful?
This plan does nothing for a softer landing, it’s just prolonging the suffering. If at least one could see some effort addressing the base problem: too much money creation. Is there anything provided for limiting it? What’ll happen if banks has to back up their loans with much more own capital. Even a larger distrust could be suspended. The leverage in all the loans and assets is it what has lead to this plight. The leverage must be broken. The bailout-plan has nothing in it for that. So it’s not a plan it contains no „healing“ component. It’s making the same error over and over again just with „more hot air“.
Now let’s see. If the system would be fundamentally fine. Why the hell can it not cope without this „money infusion“? The 700 Mrd are nothing in comparisan to the „real“ money held in the system. How comes that this system can not even deal with less than a few per cent of what they deal with every day?
You won’t get any help from politicians nor any of the manager bastards. So bail out, make your own business, or if you must work for this bastards, make your personal bail-out. Get rid of your debt, let everyone laugh at you. You know whom will laugh last. If you are going to buy any of their arguments you have surrenderd to a slaves live.
So make your personal bail-out. The sooner the better….