Why Would Anyone

MnJetFan · 10-11-2008, 08:54 PM

Look to the Federal Govt to fix the economic disaster we find ourserlves in?
Isn't this the same government that has screwed up our financial systems in the first place. FRB, Fannie and Freddie the government that did no oversight because they were being bought off! :confused:

SantanaMoss83 · 10-11-2008, 09:10 PM

What other option do we have?

MnJetFan · 10-12-2008, 01:07 AM

Because it is a pipedream. The more the Federal govt, involves itself the more it screws it up. Let the system fix itself.

PlumberKhan · 10-12-2008, 08:30 AM

[QUOTE=MnJetFan;2799736]Because it is a pipedream. The more the Federal govt, involves itself the more it screws it up. Let the system fix itself.[/QUOTE]

Yup. Just like we should of let Iraq fix itself. If only there was someway Halliburton could profit off of fixing Wall Street than you would be on board.

I have an idea. Lets bomb Wall Street!

cr726 · 10-12-2008, 09:29 AM

Because Wall Street is failing, they need money and they will take it from anyone willing to give to them.

[QUOTE=MnJetFan;2799577]Look to the Federal Govt to fix the economic disaster we find ourserlves in?
Isn't this the same government that has screwed up our financial systems in the first place. FRB, Fannie and Freddie the government that did no oversight because they were being bought off! :confused:[/QUOTE]

long island leprechaun · 10-12-2008, 05:29 PM

[QUOTE=MnJetFan;2799736]Because it is a pipedream. The more the Federal govt, involves itself the more it screws it up. Let the system fix itself.[/QUOTE]

Since you're so savvy about economics, tell us how the market will fix itself without completely destroying us along the way? You seem to be happy to mouth rather idiotic platitudes, but don't seem to have an substantial knowledge of the subject you are railing about... time to step up and show us your sophistication.....

MnJetFan · 10-12-2008, 10:01 PM

How would you fix it? Throw more of our tax money at it, pass more regulations but dont enforce them. Let Fannie and Freddie run roughshod and give loans to every tom dick and harry! Come on genius show us that college education!

PlumberKhan · 10-13-2008, 06:53 AM

[QUOTE=MnJetFan;2802219]How would you fix it? Throw more of our tax money at it, pass more regulations but dont enforce them. Let Fannie and Freddie run roughshod and give loans to every tom dick and harry! Come on genius show us that college education![/QUOTE]

C'mon Minnesota...this post sounds like random words selected from a Rush Limbaugh transcript. Does your entire political worldview need to be dictated to you by a prescription drug addict? C'mon man...think for yourself!

MnJetFan · 10-13-2008, 08:23 PM

Actually I dont listen to him. I try to listen to both sides of the argument not just Obama or McCain.

2foolish197 · 10-13-2008, 08:31 PM

[QUOTE=cr726;2799822]Because Wall Street is failing, they need money and they will take it from anyone willing to give to them.[/QUOTE]let the banks handle deriative swaps.they know the true value of these loans..they'll ferry out the really bad ones from the salvagable ones.re-capitilize the banks like we have been saying for three weeks on these threads.suspend dividends.,let the banks catch up.thats where you should throw the money.but i have no idea if this will ultimatley work.no one does.we are in for some hard times.

jetstream23 · 10-13-2008, 08:34 PM

[QUOTE=long island leprechaun;2801450]Since you're so savvy about economics, tell us how the market will fix itself without completely destroying us along the way? You seem to be happy to mouth rather idiotic platitudes, but don't seem to have an substantial knowledge of the subject you are railing about... time to step up and show us your sophistication.....[/QUOTE]

There is no painless option here. Full government intervention kills taxpayers by adding huge obligations to the future and stifling innovation as the free market is essentially killed. A full market solution (no action by the gov't.) would create massive "constructive destruction" by seeing only the most pristine of banks and firms survive -- meaning well-capitalized companies with great balance sheets and stable income in times of economic slowdown. At the same time, only the most pristine of consumers would likely fair well also - meaning that if you don't have any debt, can survive without access to credit and have saved enough for hard times you'd be okay.

Neither way is perfect and I think the gov't is trying to find the least disruptive approach that will work and still maintain some semblance of the banking system that, until recently, worked fairly well. But, as a free market guy, if my choice is to have the Treasury own some pieces of banks for a while and buy their debt OR to watch a run on all the banks and the destruction of basic financial systems....I'll choose the former.

MnJetFan · 10-14-2008, 01:11 AM

I just want to know where was the oversight? Some claim it will be better under Obama but the Oversight committees have been run by Democrats for years and see where that has got us. If you have regulations how about enforcing them!

10-11-2008, 08:54 PM	#1
MnJetFan All League Join Date: Feb 2005 Posts: 4,302	Why Would Anyone Look to the Federal Govt to fix the economic disaster we find ourserlves in? Isn't this the same government that has screwed up our financial systems in the first place. FRB, Fannie and Freddie the government that did no oversight because they were being bought off! :confused:

10-11-2008, 09:10 PM	#2
SantanaMoss83 All League Join Date: Apr 2004 Posts: 608	What other option do we have?

10-12-2008, 01:07 AM	#3
MnJetFan All League Join Date: Feb 2005 Posts: 4,302	Because it is a pipedream. The more the Federal govt, involves itself the more it screws it up. Let the system fix itself.

10-12-2008, 08:30 AM	#4
PlumberKhan BRACE YOURSELVES FOR 12... Banned Join Date: Feb 2006 Location: Van down by the river Posts: 21,013	[QUOTE=MnJetFan;2799736]Because it is a pipedream. The more the Federal govt, involves itself the more it screws it up. Let the system fix itself.[/QUOTE] Yup. Just like we should of let Iraq fix itself. If only there was someway Halliburton could profit off of fixing Wall Street than you would be on board. I have an idea. Lets bomb Wall Street!

10-12-2008, 09:29 AM	#5
cr726 Jets Insider VIP Join Date: Jan 2005 Posts: 13,295	Because Wall Street is failing, they need money and they will take it from anyone willing to give to them. [QUOTE=MnJetFan;2799577]Look to the Federal Govt to fix the economic disaster we find ourserlves in? Isn't this the same government that has screwed up our financial systems in the first place. FRB, Fannie and Freddie the government that did no oversight because they were being bought off! :confused:[/QUOTE]

10-12-2008, 05:29 PM	#6
long island leprechaun Don't mess with Angel Eyes. All Pro Join Date: Jan 2006 Location: greenwich village, NYC Posts: 7,222	[QUOTE=MnJetFan;2799736]Because it is a pipedream. The more the Federal govt, involves itself the more it screws it up. Let the system fix itself.[/QUOTE] Since you're so savvy about economics, tell us how the market will fix itself without completely destroying us along the way? You seem to be happy to mouth rather idiotic platitudes, but don't seem to have an substantial knowledge of the subject you are railing about... time to step up and show us your sophistication.....

10-12-2008, 10:01 PM	#7
MnJetFan All League Join Date: Feb 2005 Posts: 4,302	How would you fix it? Throw more of our tax money at it, pass more regulations but dont enforce them. Let Fannie and Freddie run roughshod and give loans to every tom dick and harry! Come on genius show us that college education!

10-13-2008, 06:53 AM	#8
PlumberKhan BRACE YOURSELVES FOR 12... Banned Join Date: Feb 2006 Location: Van down by the river Posts: 21,013	[QUOTE=MnJetFan;2802219]How would you fix it? Throw more of our tax money at it, pass more regulations but dont enforce them. Let Fannie and Freddie run roughshod and give loans to every tom dick and harry! Come on genius show us that college education![/QUOTE] C'mon Minnesota...this post sounds like random words selected from a Rush Limbaugh transcript. Does your entire political worldview need to be dictated to you by a prescription drug addict? C'mon man...think for yourself!

10-13-2008, 08:23 PM	#9
MnJetFan All League Join Date: Feb 2005 Posts: 4,302	Actually I dont listen to him. I try to listen to both sides of the argument not just Obama or McCain.

10-13-2008, 08:31 PM	#10
2foolish197 i suspect hanky-panky All League Join Date: Mar 2006 Location: astoria Posts: 4,528	[QUOTE=cr726;2799822]Because Wall Street is failing, they need money and they will take it from anyone willing to give to them.[/QUOTE]let the banks handle deriative swaps.they know the true value of these loans..they'll ferry out the really bad ones from the salvagable ones.re-capitilize the banks like we have been saying for three weeks on these threads.suspend dividends.,let the banks catch up.thats where you should throw the money.but i have no idea if this will ultimatley work.no one does.we are in for some hard times.

10-13-2008, 08:34 PM	#11
jetstream23 recovering from turf toe Jets Insider VIP Join Date: Dec 2005 Location: Phoenix, AZ (New Jets Stadium Section 246) Posts: 31,582	[QUOTE=long island leprechaun;2801450]Since you're so savvy about economics, tell us how the market will fix itself without completely destroying us along the way? You seem to be happy to mouth rather idiotic platitudes, but don't seem to have an substantial knowledge of the subject you are railing about... time to step up and show us your sophistication.....[/QUOTE] There is no painless option here. Full government intervention kills taxpayers by adding huge obligations to the future and stifling innovation as the free market is essentially killed. A full market solution (no action by the gov't.) would create massive "constructive destruction" by seeing only the most pristine of banks and firms survive -- meaning well-capitalized companies with great balance sheets and stable income in times of economic slowdown. At the same time, only the most pristine of consumers would likely fair well also - meaning that if you don't have any debt, can survive without access to credit and have saved enough for hard times you'd be okay. Neither way is perfect and I think the gov't is trying to find the least disruptive approach that will work and still maintain some semblance of the banking system that, until recently, worked fairly well. But, as a free market guy, if my choice is to have the Treasury own some pieces of banks for a while and buy their debt OR to watch a run on all the banks and the destruction of basic financial systems....I'll choose the former.

10-14-2008, 01:11 AM	#12
MnJetFan All League Join Date: Feb 2005 Posts: 4,302	I just want to know where was the oversight? Some claim it will be better under Obama but the Oversight committees have been run by Democrats for years and see where that has got us. If you have regulations how about enforcing them!