I explained it to you in PM, LW.  If you do not want to accept or understand the underlying issues that both myself and Jafo has made clear, then there's nothing else I can do.  Making it public in some attempt just to draw attention does not do anything, and is not the place for discussions like this.  Anything else needs to be taken to PM, or just leave it alone.

The last I heard was that if a foreighn bank had branches in the USA with employees etc, they too would be eligable for the "bailout".  I have not checked if this made it to the final package.

I do believe that they removed the nonsense about giving 20% of any profits that might result to ACORN and other low income housing groups.  I find it incredible that that was even in there. ACORN has been convicted of voter fraud in 3 states! Obama was their attorney in Chicago and also a trainer for the Chicago branch and maybe that is how it got in there in the first place.  I do not know one way or the other.

I agree with you on the CEO thing, but i do not think that there  is any requirement to prove greed as a motive.  Any CEO involved cannot get any more that $500K in compensation as I understand it.  The problrm with this bit is that it is to include any CEO that participates in the bailout and that would include CEO's of comapnies that buy the debt from the government at some time in the future.  This will only have the effect of keeping good companies away from buying the debt I fear.  We shall see.

I think they were just trying to protect the really poor, Ken. As for ACORN, as a Community Organizer and Harvard trained lawyer, it doesn't surprise me he was involved with them...but that doesn't mean that a) he got that language in the compromise nor that he was involved in any illegal actions.

As I feared, the greed thing will affect the outcome. I don't think it's truly buying debt, rather redeeming insurance .... a thin distinction (if any) and I might be all wrong on that part. I haven't read what (if anything) has been made available. They'd better be pretty darned transparant about this, though.

Yes indeed!  But I rather doubt it.  I just don't trust any of them to do anything other than try to get re-elected. I have had it with the blame game and the result from same that we never get to the truth of anything that happens.  It will always be through the prism of whomever chairs the investigating committee. If the republicans head the committee they will blame the dems and vice versa.  All the after the fact investgations are usually attempts to t rewrite history in favor of whomever is on top at the moment.

Agreed. Probably another thing we will never know for sure.

Quite a roller coaster ride for sure! Just remember, you only get hurt on a roller coaster when you try to get off in the middle of the ride!

Too true!

To quote an infamous Roman Governor, "Truth? What is truth?".

History is generally written by the guy who wins the war. .

Or when the restraints fail.... .

There's only one way to be sure a politician is honest.... attend their funeral, to be sure, to be sure.

Did that.... coupled with a one-way bus ticket outta town.  It would have been outta State... but she didn't leave me enough cash.

A stowaway, eh!   Well us'd 'ave ter 'ave sum entertainment first... so it'd ave ter be tha keel'aulin, follered up by a leaded swan dive orf tha high spring boar.... er, plank.

Being serious now, I am also afraid that this bailout won't work, that it would be a temporary 'quick' fix that doesn't address the unlerlying issues.  There needs to be stronger and enforcable regulatory controls that prevent financial institutions awarding themselves fat bonuses while trading in high risk bad debts... as in selling off blocks of delinquent mortgages to other financial institutions/investors as a way of offloading debts they'd rather not have to bother with.  Independent companies, yes, but the whole financial sector is interdependent and it can not trade itself out of trouble by bandying bad debts off to one another.

Frankly, I see this issue rearing its ugly head again in the not too far off in the distant future... there is no quick fix bailout because the problem is caused by decades of greed, economic mismanagenent, poor investment choices and the deregulation of banks, etc. The better way to resolve this crisis would be to assist the struggling home buyers to make their mortgage repayments, thus generating capital for these institutions, with regulatory controls, to trade their way out of trouble. Sadly, however, the dickhead powers that be will prop up the wealthy financial entreprenuers who have lost billions of other peoples money, NOT THEIR OWN, and the problem will continue to spiral downhill.

This is exactly what I've been saying as well. There's not much to add except that this was our totally useless government's regulatory function that was bypassed by ideology freaks.

LW and I are in total agreement on this. No noose, though...but I will say LW is developing the proper bloodthirsty attitude required of a Pirate crew member! Now, if we can just teach her our lingo, there's a spot open for a good cannoneer on H.M.S. Oz Boss. .

I feel it was the negotiator's function to get to a reasonable severance and benefit/salary package for the CEO's and the Boards of Directors who dropped the ball on that one. I believe that the mechanism of public/stockholder review breaks down due to secrecy, distance and impossibility of keeping track of it all. If that's true, and I believe it is, what is the alternative to a division of the SEC reviewing these matters? I'm open to all proposals, mates!

Now you're talking, LW... in fact, I couldn't have said it better myself.  I had similar thoughts but (with the black van with blacked out windows parked outide), I was just being diplomatic before.  I'm glad you recommended the noose, tho, as opposed to firing squad or 'the chair'   In these tough economic times, bullets are costly and not reusable, and electricity is a resource that needs to be conserved to save price hikes to consumers.... however, a rope can be reused, thus saving taxpayer dollars.

Seriously, the protectionism (in-house & govt) needs to stop, as do the secret handshakes, backroom deals and self-serving bonus/salary pakages these financiers believe is their right to skim from other peoples money/investments.... and should any of them have broken the law, then they should face full extent of the law, just as those without money and fancy lawyers would have to... no special deals or plea bargaining just because they have money and influential ties with powerful/connected people

Sorry to hear about the health issues, LW...and I truly hope that improves.

As for the Mods....well, LW....just a friendly suggestion (not trying to score points)....maybe dialing it down a notch or two, or less personalization might please them more. I don't believe they're after you personally. Really. They are a pretty reasonable crowd. They seem to leave things pretty much alone (naturally lazy, I say) until the begins.

This is the right stuff! Not all the time...as you can see from the thread above. As for the politics, whispers are listened to whereas shouting causes cringing. Maybe stating things softer and allowing for the possibility that others hold valid opinions which might be as right for them as yours are for you will catch more mates .... after all. honey/vinegar don'tcha know....

I'd certainly extend the hand of welcome....if you promise not to bite it off. .

P.S. That Starkers types bloody fast! But his stuff ain't as good as mine!

Hey! I found a pic of Moose at Sarah's place....I think they were praying for mercy or maybe for her to go to D.C. and away from them!

Yep, this bailout crap has people all over the Word steamed... worried as hell more like it, and I'm sorry to hear you're not feeling too well, but when you're feeling better/more humourous, you'd be welcome to join in a bit of 'pirate banter' if youd like to. We only started it to lighten the mood when things started getting heavy and/or angered - nothing like a bit of tongue in cheek BS to help steer it on a different course (eg. TheGuyPc) - and that's the whole idea here, a bit of levity to (hopefully) help cheer up those who are hurting, angry and worried.

Nope... I'm a one finger typist and quite slow.  As for my stuff not being as good as yours... only in your dreams. Hehe

Hey! I'm a "Legend In My Own Mind" and I'll brook no arguments!

Did that come out right?

I thinks me Cap'n got a figger  up 'is nose, I do!

My solution to our Do nothing and Do less Congress?

Take yer booty and  R U N  me mates!

And Wot T'do about them Politico Buggers?

The Government.

Who cares, it sounded good.

Aye matey!  Me finks I lost sum o' me booty up thar... an' I be tryin' t' dig it out.

Aye...RUN straight inta tha arms o' cap'n starkers wiv it.  I be tha Robin 'ood of pirates.. I'd give it t' tha poor... its rightful owners.

As fer sh!ttin' on tha politicos... they already be up t' thar necks in thar own BS n' diggin' 'emselves deeper... soon tha buggers 'll choke on thar own excrement, me finks.