As someone I know that works with these liars and thieves on Wall Street, I'd be interested in your take on "The Bailout Plan". I'm obviously opposed to allowing ANY asswads who sit atop of any of these company's get a single taxpayer nickle as the result of any deal, but obviously there's more to it than that.
The Bailout Plan is appalling because it is so broad and so unclear that it allows Paulson to do anything. I understand the idea, but I don't think the plan is well thought out yet and the Congress is right to balk at such a vague idea of what to do.
That being said, the issue is more serious than people believe. If credit tightens and companies start to default on debt because they cannot refinance, the great pyramid scheme of credit default swaps will come tumbling down and things will truly be ugly.
I say they make me CEO of a re-capitalized Lehman Brothers. Sure, I could make a mess of it, but I could hardly do worse than Dick Fuld and I could make a lot of money.
4 comments:
As someone I know that works with these liars and thieves on Wall Street, I'd be interested in your take on "The Bailout Plan". I'm obviously opposed to allowing ANY asswads who sit atop of any of these company's get a single taxpayer nickle as the result of any deal, but obviously there's more to it than that.
The Bailout Plan is appalling because it is so broad and so unclear that it allows Paulson to do anything. I understand the idea, but I don't think the plan is well thought out yet and the Congress is right to balk at such a vague idea of what to do.
That being said, the issue is more serious than people believe. If credit tightens and companies start to default on debt because they cannot refinance, the great pyramid scheme of credit default swaps will come tumbling down and things will truly be ugly.
So we have to so something here, check. How do we head it off and turn it around?
I say they make me CEO of a re-capitalized Lehman Brothers. Sure, I could make a mess of it, but I could hardly do worse than Dick Fuld and I could make a lot of money.
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