 
Support Wrong Planet Awareness!
| View previous topic :: View next topic |
| Author |
Message |
ooOoOoOAnaOoOoOoo
Phoenix
![]()
Joined: Jun 19, 2008
Posts: 1762
Location: US, midmap
|
 Posted: Fri Oct 10, 2008 6:39 pm Post subject: Government Plans to Invest In Banks. |
 |
|
What do you think of that?
Is it the same as the US government owning the banks? Is this the US government's move to own aquire the banking industry?
What do you all think? |
|
| Back to top |
|
TheMidnightJudge
Ghost in the Machine
Joined: Mar 29, 2007
Posts: 1379
Location: New England
|
| Posted: Fri Oct 10, 2008 7:50 pm Post subject: |
|
|
I would actually trust the government with the banking industry slightly more than the current owners.
_________________
"My witness is the empty sky" |
|
| Back to top |
|
ValMikeSmith
Velociraptor
Joined: May 19, 2008
Posts: 488
Location: Stranger in a strange land
|
| Posted: Fri Oct 10, 2008 9:48 pm Post subject: |
|
|
| Well, what you SHOULD REALLY fear is the banks owning the government! |
|
| Back to top |
|
Inventor
Phoenix
Joined: Feb 16, 2007
Posts: 2822
Location: New Orleans
|
| Posted: Sat Oct 11, 2008 3:26 pm Post subject: |
|
|
It is all in the details, if they buy worthless Common Stock from their friends, like they have been buying worthless debt, it is bailing out the stockholders.
Government regulates the banks, what more control do they need?
The plain fact is, mortgages are worth several hundred trillion less than face value now.
The Dow is down 9 trillion from 14,000, the national debt is now 11 trillion since the bailout, so it is more lost than could be covered.
When banks fail they are taken over by solvent banks, at book value.
There is no need for the government to buy losers from losers.
Business makes money, business loses money. Greed drove them to lose big time.
Now the banks refuse to loan money, they should go out of business.
It is the only way to value assets to the current market.
The government should go out of business, just for thinking of going into business.
They chose between the doners and the People, so they are bankrupt. |
|
| Back to top |
|
Tim_Tex
WP's Resident Simpsons and South Park Aficionado
Joined: Jul 03, 2004
Age: 28
Posts: 22319
Location: San Marcos, Texas
|
| Posted: Sat Oct 11, 2008 3:34 pm Post subject: |
|
|
| ValMikeSmith wrote: | | Well, what you SHOULD REALLY fear is the banks owning the government! |
I agree.
_________________
When you need something, that's a responsibility, that only an adult...of my maturity...Bunnies!!!
~Meatwad, Aqua Teen Hunger Force |
|
| Back to top |
|
Zara
Skyfish
Joined: Jun 24, 2007
Age: 28
Posts: 1583
Location: Deep Dungeon, VA
|
| Posted: Sat Oct 11, 2008 10:14 pm Post subject: |
|
|
I don't know if feel it's a good idea...
What are they going to do if this doesn't work and the shares lose value? We'll be losing even more money...
_________________
Current obsessions: Berserk
Currently playing: Fallout 3
Current Anime Watching: Gundam 00 season 2
Currently building: ...
|
|
| Back to top |
|
Inventor
Phoenix
Joined: Feb 16, 2007
Posts: 2822
Location: New Orleans
|
| Posted: Sun Oct 12, 2008 12:57 pm Post subject: |
|
|
The latest is to nationalize the banks?
Buying bad assets will not work, more are going bad.
Buying stock in banks with bad assets is the same.
I hate to say it, but it makes sense to fund banks.
Highly restricted funds, they can loan them, but not mix them with the losses.
The banks are one problem, getting some float capital moving is another.
Some very sound business runs on short term funding.
Buy materials, pay labor, deliver product, and consumers who can fund the purchase.
We cannot fix housing, stop building and wait.
As most mortgages are performing, little choice but to leave it alone.
Those with subprime collections are going to lose, and should.
Those with good credit should be able to continue borrowing, or we lose the economy.
We the People put up the funds, and as banks fold, We the People buy them, at fair value.
People buy houses, Fanny and Freddie buy the mortgage, so we cut out the middle men.
Banks as a service, like the Post Office.
Next, We the People own the oil in the ground, I can see paying a fee to have it drilled, refined, then it is ours. Then we sell it to people who distribute.
Something is wrong when oil companies make billions a day on the People's oil.
Next, we Nationalize the Government, Of the People, By the People, For the People, via the Internet. |
|
| Back to top |
|
|
|
You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum
|
|
|
