...Interesting read. Check it out:
Commentary: Bankruptcy, not bailout, is the right answer - CNN.com

Free market my ass.

cant just let things crash or can we?

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a man who wants nothing is invincible

Interesting article, Dave ... thanks.

Here's a key paragraph that stood out at me:

Talk of Armageddon, however, is ridiculous scare-mongering. If financial institutions cannot make productive loans, a profit opportunity exists for someone else. This might not happen instantly, but it will happen.

That's free market thinking, right there.

Vi

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Liberals are people that will believe anything twice.

Bankruptcy means that shareholders typically get wiped out and the creditors own the company.

Of course this is nice for all those broke ass folk that have no 401Ks or retirement accounts, But by yesterdays close, over a trillion bucks in assets had been wiped out, 401Ks, retirement accounts right along with it. My theory would be to guarantee these accounts up to 100K and let the chips fall where they may. If you have millions in the market, oh well, but if your 401K is approaching 100K, or your IRA is at or more than 100K, you would be covered up to 100K. We can't let these hard working folks go down the shitter because of greedy wall street junkies.

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Life is good, the water is sweet. The ground keeps moving beneath my feet.

Well, if you had a fairly conservatively distributed IRA, you lost around six grand per $100k yesterday. Ouch. By far, most of those people were just working joes who lost that trillion dollars plus yesterday, not greedy stock market types. Yeah, refusing to help the markets out will hurt the fat cats a LITTLE...but the price normal joes will have to pay to do that may end up being trillions in lost retirement savings. The quality of life of millions of upcoming retirees, for the rest of their lives, is at stake.

If this ever had anything to do with bailing out the fat cats, it doesn't now. It's about saving our economy so people who rely on such esoteric things as jobs and paychecks will continue to be able to get them. If people wanna tear off both their legs to get rid of a wart on one of them, well, yeah, that works, but...

i guess the fdic dosnt save that ......but do we reallly want government intervention..... We privatized the markets and companies and cornered the market with the new deal.... this was suppose to help us with loan and affordable housing....
i dont know what is best...only time will tell.....

Like Ross Perot would have said: "We're like the guy with the Rattlesnake in his pants. He knows he has to shoot it, but he doesn't want to hit any important parts."

Vi

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Liberals are people that will believe anything twice.

I know a married couple, the wife's IRA's and stocks and bonds have lost 3% in the last 30 days. The husbands still have growth, albeit not as high as before but still growth.

She moved hers around to control the bleeding. Total decline is not inevitable, its just a theory and fear mongering to create a larger more powerful govt. (yes it is possible, see China, Soviet Union, Cuba, North Korea, all those wonderful socialist/communist countries past and present.).

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.Intense feeling too often obscures the truth.
Harry S. Truman

yea my 401 is in foreign markets....but you never know with stocks....

Haha, Yepper, my money is in HKEx, moved it there before the dollar tanked. Lucky move for me.

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.Intense feeling too often obscures the truth.
Harry S. Truman