I will need some sort of financing to get it done. :\
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I will need some sort of financing to get it done. :\
credit might be too tight to get it done now. i think this bailout is passing so credit should relax. the consequences otherwise are too dire to comprehend.
Quote:
Originally Posted by burgundy
I wasn't really saying that at all. I think unemployment is a good thing for those who are out of work and are looking, but need a way to take care of themselves in between (like I will in a few days). And my friend was in the Air Force, so perhaps that has a factor on how much he gets too.
And to frog, I understand the concept of "rainy day" saving and whatnot, but idealistically I'd wish people would do that for themselves rather than pay out to something they may or may not need later down the line.
So is it cool that I understand the use and importance of unemployment, but feel that there must be a way to better implement such an idea?
I'm honestly not too worried about the bailout going through in its current form. Golden parachutes are gone, the risk to the taxpayer is minimized, the FDIC limit raise discourages reactionary fooferah that only worsens an already hurting market, and most importantly, a timetable is included for any banks that don't contribute a net profit by a certain time to go back in front of the firing squad and answer for it.
You can contend that it's going to go right back to business as usual, that it won't work because all of them will fall through on that agreement and we'll be in the same boat we are now, but I don't see it. This crisis was borne of hubris, the idea that banks are incapable of failing. It has been proven in no uncertain terms that that is false, and regardless of how many more banks may have failed with no bailout, the fact remains that several heavy hitters are gone. The message has been delivered loud and clear that operating as they were is not a tenable business plan and continuing to do so could very well put any bank on the chopping block others found themselves on. Examples have been made, attitudes have been changed.
I agree that the private sector stepping in would be a more optimal solution, but they're not stepping up now and it's dangerous to sit idly by while they play a game of "how low can they go?" before swooping in for acquisitions. Many businesses will be caught in that crossfire, many jobs lost. Furthering a point that's already been made isn't worth the toll it will take on the lower end of the spectrum.
Apples are red.
NO THE SKY IS BLUE!
isn't what we're talking about hereQuote:
Originally Posted by Hero
It'd be cooler if that idea was a bit more specific.Quote:
Originally Posted by Hero
who owns my bank? THE DRAMA
bailout passes as dow slides off session highs