$700 Billion Bailout Fails. Finger Pointing Begins

[Bluehawk]

Originally Posted by javlin

Oh NNOOO they wanted this to happen quickly.Remember if it does not pass by Friday the NYSE is going to crash,never did.Then it was to pass the following Friday and it has been in the tank since.Now I think I know that the NYSE was probably going to tank regardless it's the point the kongress kritters said "it's going to tank if we don't".Yea and so much of Amerika bought it after the 700pt. drop with a 500 pt. rise the next day.We have been hosed people

Ye have hitted it right on the nose hose.

My brother is a professional stock investor (BTW, he sold ALL of his stock holdings last Friday).

He informed me that the pros sold off everything they possibly could last week to the 700+ drop level, then bought back about half of it the very next day, on purpose.

The remainder of fluctuation is going to occur because of the corporate individual retirement accounts that have started changing in their enrollment profiles as people get their statements and see HOW much they've already lost if they had favored stocks in their distribution of assets.

It will, probably, settle out eventually... but there will be a lot of blood along the way.

[javlin]

Now I think this is how it's suppose to work.I got my eval today and I did not past the the muster,I got no raise.I am not pissed because I evaled myself deficent (sp)in some of the same areas.Now why in the hell do these guys get bailed out?When company's and people have a safety net thay do not try or care to perform better or be a success.Consequences people,consequences.

I will be working that much harder for bonuses now

[Njaco]

Javelin, what resort you going to for your Failure Party? Isn't that how its done?

[javlin]

Now that might be how the big boys do it but its back to work to fix my mistakes and earn my bonuses at least.I got a $733 one com'in next week and that's a 50% mark bonus.

[javlin]

Are we sure Obama is not the Prez right now!Gawd got the bonus and the Guberment clipped me for 42 friggin percent just like a capital gains and trust me my breath'en to the North,Canada,I make well under the $250k mark.That was part of Obama's first tax plan Increase Capital Gains on the rich,get real people.This guy wants all the money and power in DC

[Old Wizard]

They're adding even more 'pork' to the bailout.
Have they no integrity at all?

[Njaco]

the Guberment clipped me for 42 friggin percent just like a capital gains and trust me my breath'en to the North,Canada,I make well under the $250k mark.That was part of Obama's first tax plan Increase Capital Gains

you must be rich. or maybe we just didn't hear him clearly.

Have they no integrity at all?

none whatsoever.

[javlin]

Now who would of figured this...

As the crisis worsens, the government's reaction keeps changing. Lawmakers in both parties are starting to gripe that the bailout is turning out to be far different from what the Bush administration sold to Congress.

and when you take out risk and stick some other sucker(us) with the bill no wonder it's Wellffarrre

But reports surfaced that bankers might instead use the money to buy other banks, pay dividends, give employees a raise and executives a bonus, or just sit on it. Insurance companies now want a piece; maybe automakers, too, even though Congress has approved $25 billion in low-interest loans for them.

FOXNews.com - Uses for $700B Bailout Money Keep Changing - Politics | Republican Party | Democratic Party | Political Spectrum

Then we have this about the 401k plans being batted about
were they(US Governemnt) ask or tell you to sell your 401K to them for a guarantee of 3% in SS fund,WTF.Like they have really handled that fund well over the years.All starting buy a simple bailout that is not doing a stinking thing that most Americans opposed.Get ready people Dem kongress,Dem Senate and most likely Prez it's about to really suck out there.

In the past 12 months, more than a half-trillion dollars have “evaporated” from 401(k) plans as a result of turmoil in the financial markets, said U.S. Rep. George Miller, chairman of the House Education and Labor Committee.

Miller made the statement at hearings he called to look at the impact of the financial crisis on U.S. workers’ retirement security.

Lawmakers have been suggesting they may look at policy changes to 401(k)s — the tax-advantaged plans that are the most widely used retirement vehicle — in coming months.

Miller made it clear he sees flaws in the 401(k) model. About $3 trilion is invested in the plans, the majority of it placed in equity mutual funds that track the stock market.

Washington Wire - WSJ.com : Amid Deep Losses, Congress Examines 401(k)s

[Njaco]

I just saw that too, Javelin. Now did anybody really think that Wall street would play fair?