I was with you on that point right up to the point until they actually did do the bailouts. At that point, the bubble theory became wishful thinking. Bailouts for the giants began a long time ago. In 1979 Jimmy Carter Bailed out Chrysler. Here is an article on that one and how it turned out.
I'm still with you when it comes to not wanting these bailouts to happen. I'm afraid we're out-gunned here though and just want the government to do something to prevent the need for future bailouts. In my opinion, they could at least make these companies reorganize in a way that would stop them from putting us in this position again.
ND, this is what I'm talking about. In your scenario we're asking government to step in and try and fix something that should essentially fix itself. I think what we really want to see is a freeze on government aid to the companies and for government to simply step back and let Capitalism take its course, which SHOULD prevent companies from making the same mistakes. Getting more involved like the scenario you pointed out will only create more precedences for government to point back to later.
It's funny you mention Jimmy Carter...there's a piece of history this admin should have taken from. Excellent article by the way. Thank you for that.
__________________
Do nothing out of selfish ambition or vain conceit, but in humility consider others better than yourselves. Each of you should look not only to your own interests, but also to the interests of others. – Philippians 2:3-4
Couldn't even watch it, Vko so I have no say about him. Had all I can take of him on 60 minutes the other night, and how he thinks every thing is sooo dang Funny.
President Obama tonight on TV - what do you think about his Presidential news conference . How the People in the news departments treat there question to him and how they treated Bush.
I'm going to use a few buzzwords here, for those of you playing "buzzword bingo".
Bubble
It's what is supposed to go "pop" when a company grows too large for it's own good and can't manage it's finances anymore.
This is when you see Capitalism work at its best as other companies eat up the "toxic assets" and keep our economy moving forward.
At no point should government stick it's nose in when a companies greed causes itself to fail.
__________________
Do nothing out of selfish ambition or vain conceit, but in humility consider others better than yourselves. Each of you should look not only to your own interests, but also to the interests of others. – Philippians 2:3-4
I have had my News and TV shut off for a week.. it seems like a week, stayed off Williston Herald - other than today. I only look at weather and the flooding. Tonight I put it back on.. Wow what a difference a week makes.. AiG and White House ..... Ouch.. I have already chewed on North Dakota Democrates... (who I voted for) Mrs. Thue wrote a very good letter.. If weather ever straightens out - may shut the TV down again.. President Obama is doing exactly what he said he would do.. and more...God help us.. And our elected officals have spines like noodles.. Am waiting for the next election.
Senator Dodd is a snake that will make himself out to be the good guy and will throw some poor sap in the treasury under the bus.
__________________
Do nothing out of selfish ambition or vain conceit, but in humility consider others better than yourselves. Each of you should look not only to your own interests, but also to the interests of others. – Philippians 2:3-4
We can only hope Senator Dodd from Conneticut will be fired. Or just not voted for again. And the rest behind closed doors who signed this bill. Which I already wrote Dorgan Conrad and Pomeroy. And Gov. Hoeven. And our President for as smart as he is supposed to be is struggling, and Pelosi is someone that in my mind is a sister to satin. So Dorgan and the rest got a earfull about E-verify - AIG - raising taxes - bringing back in Estate Taxes and trying to tax mineral owners. And other stuff. I will be surprised this time if I will hear from them.. Either way I said I thought they actually cared about little ND and now feel they are selling us down the road to line their own pockets.
Is not a person here thinking about the AIG bailout? Are we still paying for the Rich to get richer - Just because their the best. It put's a whole new label on the "Professional's that can help you through your investing.
