Opposed to the bailout? Sign a petition...

ipoplaya_IHB

ipoplaya_IHB

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I posted these in another thread but wanted them to get more attention...



<a href="http://www.stopthehousingbailout.com/ ">http://www.stopthehousingbailout.com/ </a>



<a href="http://www.stopthehousingbailout.com/ ">http://www.petitiononline.com/bailout/petition.html </a>



<a href="http://www.stopthehousingbailout.com/ ">http://www.angryrenter.com/</a>
 
And if you need some motivation, watch this:



<object width="325" height="250"><embed src="http://www.youtube.com/v/youtube" type="application/x-shockwave-flash" width="325" height="250"></embed></object>
 
I had a timeout issue with Senator Feinstein's e-mail form, but it eventually cleared up. I would suggest not stopping with Campbell. My rule of thumb is to hit up my five with a copy and paste with some tweaks: Senator Harry Reid (Senate Majority Leader), Nancy Pelosi (Speaker of the House), Senators Barbara Boxer and Dianne Feinstein, and Congressman John Campbell. A quick Google search will find them all.
 
I saw a democratic congressman from CA on CNBC today report that opposition to the bailout was running 300 to 2 in his email/correspondence.



He said that wall street and the leadership were calling the shots right now and if this bill doesn't pass by this weekend, by next week there will be too much opposition to pass it.
 
[quote author="optimusprime" date=1222382625]Financial Armageddon and the destruction of the USA Debt Market is a better alternative.



Right!</blockquote>
I think some people don't understand how big the blackhole would be if nothing would happen. I'm not a huge fan of the bailout, but I don't want to find out how bad things could get if nothing was done.
 
[quote author="alan" date=1222385951]I saw a democratic congressman from CA on CNBC today report that opposition to the bailout was running 300 to 2 in his email/correspondence.



He said that wall street and the leadership were calling the shots right now and if this bill doesn't pass by this weekend, by next week there will be too much opposition to pass it.</blockquote>


Dude is an idiot. 300 to 2...he can't count. I saw it this morning as well.
 
[quote author="usctrojanman29" date=1222386108][quote author="optimusprime" date=1222382625]Financial Armageddon and the destruction of the USA Debt Market is a better alternative.



Right!</blockquote>
I think some people don't understand how big the blackhole would be if nothing would happen. I'm not a huge fan of the bailout, but I don't want to find out how bad things could get if nothing was done.</blockquote>


Jack Welch pointed out the problem this morning with the bailout... the Media has ran with the term "Wall Street Bailout" which doesn't work w/the public. The term should be "American Restructuring Plan".



Joe Blow on the street doesn't care and doesn't know how badly affected he will be.
 
[quote author="usctrojanman29" date=1222386108][quote author="optimusprime" date=1222382625]Financial Armageddon and the destruction of the USA Debt Market is a better alternative.



Right!</blockquote>
I think some people don't understand how big the blackhole would be if nothing would happen. I'm not a huge fan of the bailout, but I don't want to find out how bad things could get if nothing was done.</blockquote>


I think something has to be done but taking the toxic paper off the lenders books at even current market value is idiot. There have to be better and more prudent ways of injecting $700B into the system...
 
[quote author="ipoplaya" date=1222391366][quote author="usctrojanman29" date=1222386108][quote author="optimusprime" date=1222382625]Financial Armageddon and the destruction of the USA Debt Market is a better alternative.



Right!</blockquote>
I think some people don't understand how big the blackhole would be if nothing would happen. I'm not a huge fan of the bailout, but I don't want to find out how bad things could get if nothing was done.</blockquote>


I think something has to be done but taking the toxic paper off the lenders books at even current market value is idiot. There have to be better and more prudent ways of injecting $700B into the system...</blockquote>


I think the "toxic paper" price tag will be determined later. I think you go in buying the best tiers on down..meaning use a top down approach in rating the paper. Maybe 30 cents to 60 cents range.
 
[quote author="ipoplaya" date=1222391366][quote author="usctrojanman29" date=1222386108][quote author="optimusprime" date=1222382625]Financial Armageddon and the destruction of the USA Debt Market is a better alternative.



Right!</blockquote>
I think some people don't understand how big the blackhole would be if nothing would happen. I'm not a huge fan of the bailout, but I don't want to find out how bad things could get if nothing was done.</blockquote>


I think something has to be done but taking the toxic paper off the lenders books at even current market value is idiot. There have to be better and more prudent ways of injecting $700B into the system...</blockquote>
I agree...not that it would happen, but I couldn't mind so much if the gov't stepped in to become a lender or used banks to flow that $700B into consumer, business, and other loans. The banks would be servicers for the gov't loans makes .25-.50 basic points.
 
[quote author="skek" date=1222397268][quote author="optimusprime" date=1222392805][quote author="ipoplaya" date=1222391366][quote author="usctrojanman29" date=1222386108][quote author="optimusprime" date=1222382625]Financial Armageddon and the destruction of the USA Debt Market is a better alternative.



Right!</blockquote>
I think some people don't understand how big the blackhole would be if nothing would happen. I'm not a huge fan of the bailout, but I don't want to find out how bad things could get if nothing was done.</blockquote>


I think something has to be done but taking the toxic paper off the lenders books at even current market value is idiot. There have to be better and more prudent ways of injecting $700B into the system...</blockquote>


I think the "toxic paper" price tag will be determined later. I think you go in buying the best tiers on down..meaning use a top down approach in rating the paper. Maybe 30 cents to 60 cents range.</blockquote>


So you view this as a re-capitalization plan, not an attempt to solve insolvency problems, except maybe as a haphazard byproduct of the plan? If the feds are recapitalizing the banks, do you favor equity participation (apologies if you've already answered that question)?</blockquote>


Well the cause of insolvency is pretty much due to the lack of capital to cover your operations. So yes, by the Treasury freeing up capital to the financial institutions, they are re-capitalizing the banks. The next step is to over-regulate bank lending and then to find the happy medium of good regulation down the road after the markets have settled down.



I do favor equity participation...in the form of warrants to the treasury...I believe RTC I had a similar component.
 
No bailout. It?s time this country grew up and stopped putting our debt onto our children?s backs, no matter how painful that may prove to be in the short term. I have faith that the cleansing process will result in a better outcome than trying to rescue this mess we have now.
 
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