Hope This Helps Everyone

[trip]

TweetWTF is going on?

that's the big question because this is shocking financial news we are dealing with

fwiw, i support both of them going back and working on it, it is that big

I'm going to try and simplify it.


Warren Buffet has a famous quote, "Derivatives are a financial form of mass destruction"


All these derivatives, which were side insurance bets leveraged to the max on the sub-prime loans have blown up like a nuclear bomb.

In simple terms the BANKS ARE GOING BROKE, and they need money, period plain and simple.

We have two ways too help the bank, we can give them capital, ie, money so they can stay in business, or in one fell swope we but all of the bad debt, and all the banks are back in business.

All of us, all of america will own the bad debt, over time it will have some value and most likley we will not lose money.


We are at a Cross Roads and here are the two options.

Road 1 - we do nothing, and do not put the taxpayers on the hook for it. Now, no one can predict the future and no one knows for certain what will happen, heck it could be the best thing to do and it all works out. Some banks go belly up and it all works out.

THE WORST CASE SCENARIO on Road 1 is a PAIN FACTOR OF TEN, massive massive massive job losses

we will survive it, and come out better, yet, there could be, maybe huge unemployment, my gut says they don't want too say it, yet, over 10% maybe even 12% or higher, another 6-7 million amreicans out of work, devasting for families, taxes, everything.

If it happened all of the excesses of the system will be wrung out and probably five years down the road we would start to get back on our feet.

that is the pain factor of ten


Road 2 - This road has a pain factor of if things work out well too be a pain factor of 3. It will not all be good but we think we can only expereince a pain factor of 3. Yet, there is a huge huge huge price too pay. WE MUST SUSPEND THE RULE OF LAW, and after we suspend it, we have too work fast and quick and at the spped of light too fix the crack in the damns.

While the cracks are fixed, we also need to enact laws that this never ever happens again, and as soon as those laws are enacted, we need too fix the cracks, and then OUTLAW THE SUSPENSION OF THE RULE OF LAW

and of course we have too get our collective shyte together


So, as a whole as a nation do we trust ourselves.

do we go down Road 1 or Road 2 because we are no doubt about it, a fact at THE CROSSROADS OF OUR LIFETIME.................so far, lol.


That's what are representatives are wrangling with.

It's tough, cause we have not been good stewards, and we have little faith and trust in one another let alone ourselves.


GUYS AND GIRLS, It's time too man up and stand up.

this is seious, whichever way we go we have too go together, or it will not work

whoever wins this election we have too work together, or it will not work


WE NEED TO BE OUR BEST, and we can do it


I hope this helps some of u. if you have questions let em rip


fwiw, it took me about 16 hours of listening and doing research to even begin too get a handle on this, so it is very understnandable how everyone else feels, u most likely feel u got a gun to your head, or u are being forced to do something against your will, both bad feelings

i don't know if this post will help, yet, have some faith there are folks around who understand this and what is really going on, and that it is a real and viable solution, and not alot of crap

god bless all

[daved150]

Tweetthe only question ever was...do we do a band-aid, or fix it right? common sence say's fix it right, but my mortgage company says get a band-aid on that shyt becouse we dont want d150's house back!!!

[956Vette]

TweetThanks for that post buddy

[trip]

Tweet

the only question ever was...do we do a band-aid, or fix it right? common sence say's fix it right, but my mortgage company says get a band-aid on that shyt becouse we dont want d150's house back!!!

they will fix it right

i know sentiment on govt is not high

yet, for me i feel we have been our best in the last 3 month

we have responded too 3 big problems in a non-partisan way

1. they are working on a good energy policy
2. they finally decided we need too talk before war
3. they all know now, there is no more money and they have too get the checkbook in order

the pendulum swings both ways, too lax for too long, we will be cleaning up, and fixing up everything

watch, they will go big and fix it right, these are gargantuan numbers, yet, we will over time probably break even on this

fwiw, i though bush gave his best speech in 4-5 years, just the facts mame, no blaming, and the road ahead, and for better or worse we are all in it together

[daved150]

TweetI'LL TAKE YOUR WORD FOR IT, BUT I WONT HOLD MY BREATH