Which means the bail out was a decision that was not forced upon the Fed, but one the Fed could make with claims to be fulling its obligations.
The issue of course is Palin's understanding of this situation, though the focus should be on address this financial crisis, it is the singular overriding factor facing the world and yet no cohesive plan has even been broached to have complete and exhaustive studies done of how deep seeded this problem is and what can be done, if anything about it. At the moment it is nothing but knee jerk ad hoc efforts, throwing good money after bad. On Sep 9, 1:45 pm, KeithInTampa <[EMAIL PROTECTED]> wrote: > Bear Sterns was private, unlike Freddie Mac and Fannie Mae, which will > continue to trade common stock, (worth nothing) and preferred stock, > (almost worthless). Both entities are government formed corporations, > and were initially secured by government funding and federal tax > dollars, making them semi-private. > > On Sep 8, 11:12 pm, Frank <[EMAIL PROTECTED]> wrote: > > > PPPS. What was Bear Sterns private or public? > > > On Sep 9, 1:09 pm, Frank <[EMAIL PROTECTED]> wrote: > > > > Keith don't be like the others, they have not been semi-private for > > > some years. They have traded as private businesses on the NY stock > > > exchange. Congresses plan does not address the problem regardless of > > > what my political orientations are. Just because capitalism is a > > > system that has irresolvable inner-contradictions that result in > > > economic breakdown and war, (this is the third time in 100 years this > > > has occurred. Depression 1890's war 1914, Depression 1929 war 1939, > > > Depression 2009? war-in progress) does not automatically validate my > > > perspective. The inviability of capitalism and the viability of > > > socialism are not predicated one upon the other. > > > > At this stage all I can do is keep exposing the inevitability of > > > breakdown and the impotency not only of the US government by all > > > governments to improve the lives of humanity and not continually drag > > > them through the unnecessary evil of war. I am patient, as the > > > criminality and impotency of bourgeois politics is already being > > > exposed, (which head of state is not a criminal today) and it will > > > continue inexorably to its own demise, I won't have to do a thing > > > other than document it. So I am all a twitter myself as I watch the > > > degenerate state of US politics, mired in slander and innuendo and > > > devoid of serious political discussion drown in its own filth. > > > > PS Whether these banks are guaranteed or not matters little, the > > > meltdown is global, the 2 to 3 hundred billion pumped into these banks > > > will do absolutely nothing other than make the stock markets rise for > > > a few days and rob public works programs of funding. Long live > > > capitalism. > > > > PPS. A Socialists solution requires the complete rebuilding of society > > > top to bottom, completely changing the socio-economic relationship of > > > mankind. It is not a revised form of capitalism nor is it a band aid > > > or a quick fix. it is a long term permanent fix--a work in progress > > > > On Sep 9, 12:31 pm, KeithInTampa <[EMAIL PROTECTED]> wrote: > > > > > Uhm, P.A. obviously has no clue what the Hell is even going on > > > > here. > > > > > Frank, all of America is atwitter with excitement and anticipation, > > > > awaiting your alternative plan or suggestion, as opposed to what the > > > > Congress has agreed to commit to do.....The government coming in for > > > > the bailout of these semi-private corporations that are in fact, > > > > guaranteed by the federal government..... > > > > > On Sep 8, 10:16 pm, Frank <[EMAIL PROTECTED]> wrote: > > > > > > That's right, where do you draw the line? Ben Bernecke said recently > > > > > the Fed is in a position where it is going to have to decide which > > > > > banks are propped up by the Fed and which allowed to fail. There is a > > > > > huge contradiction which has to be acknowledge. If the Banks are not > > > > > propped up the US and the world economy will spiral into oblivion, no > > > > > one how many trillions in bad debts have not been declared, however > > > > > using taxpayers funds to bail them out is highly undemocratic by its > > > > > very nature. What gives the Fed the right to bail out big business > > > > > without asking those to whom the funds belong, while workers have no > > > > > right to tap into their own resources to help them out their > > > > > difficulties. > > > > > > Ultimately the bail out does nothing to ease the crisis. The crisis > > > > > has developed directly from the polarization of wealth (which is > > > > > caused by global factors) that has the result in increasing the > > > > > financial burden on the working class beyond their capacity to meet > > > > > their basic daily needs. Job layoffs will drive wages down even > > > > > further as the army of unemployed grows and business attempts to > > > > > maintain its profits in a volatile economy. Neither party can address > > > > > this problem as it is of global proportions. > > > > > > On Sep 9, 11:49 am, PoliticalAmazon <[EMAIL PROTECTED]> wrote: > > > > > > > Frank, the fact is if Gaar uses the argument that the two > > > > > > institutions > > > > > > are "taxpayer funded" because their bad loans have caused an > > > > > > increase > > > > > > in interst rates, then there are many other companies, such as > > > > > > CountryWide, which can be defined as "taxpayer funded." > > > > > > > ------ > > > > > > > On Sep 8, 2:49 pm, Frank <[EMAIL PROTECTED]> wrote: > > > > > > > > Gaar, > > > > > > > If the GES (which I only understand as a collective term for the > > > > > > > two > > > > > > > banks) have traded as private enterprises for years, with implicit > > > > > > > government backing, in other words government backing was never an > > > > > > > absolute or formally guaranteed. it was implied at most. In fact > > > > > > > one > > > > > > > was introduced as a competitor for the other (can't remember which > > > > > > > came first). > > > > > > > > Money for the bail out is coming from the treasury, in other > > > > > > > words it > > > > > > > is tax payers money. It would be nice to see that $2-$300 billion > > > > > > > going to the tax payers (seeing it is their money)rather than the > > > > > > > banks that helped caused this dilemma > > > > > > > > You, yourself have never made claim that these banks are 100% > > > > > > > government guaranteed, only now that Palin has egg on her face > > > > > > > you are > > > > > > > desperately attempting to cover her behind. > > > > > > > > everyone in America knows the status of these banks in > > > > > > > relationship to > > > > > > > guarantees, everyone except for Palin it seems. > > > > > > > > On Sep 9, 8:27 am, Gaar <[EMAIL PROTECTED]> wrote: > > > > > > > > > You obviously don't know, or even understand what a GSE is... > > > > > > > > > Or that the Entity you are talking about was in FACT a Govenment > > > > > > > > Agency for 30 YEARS!!!! > > > > > > > > > Or that it HAS in FACT cost us, by the increase in INTEREST > > > > > > > > RATES they > > > > > > > > are causing by the Bad Loans they gave out. > > > > > > > > > Where the Hell do YOU believe the "Bail Out" money comes from? > > > > > > > > > On Sep 8, 3:24 pm, PoliticalAmazon <[EMAIL PROTECTED]> wrote: > > > > > > > > > > The scary part is this: she launced right into it, bold as > > > > > > > > > brass, and > > > > > > > > > made a fool of herself. She didn't know enough to even keep > > > > > > > > > quiet. > > > > > > > > > > ------- > > > > > > > > > > On Sep 8, 3:18 pm, Frank <[EMAIL PROTECTED]> wrote: > > > > > > > > > > > If she really believed them to be tax payer funded there is > > > > > > > > > > nothing to > > > > > > > > > > excuse such uninformed ineptness. How can she possibly be > > > > > > > > > > put in a > > > > > > > > > > position of trust. I must admit I thought Bush was a red > > > > > > > > > > neck > > > > > > > > > > simpleton the first time I saw him. I yelled out to my wife > > > > > > > > > > "come and > > > > > > > > > > look at the the redneck that has been elected president of > > > > > > > > > > the US on > > > > > > > > > > TV." How wrong I was, he has been a consumate president and > > > > > > > > > > statesman. > > > > > > > > > > > On Sep 9, 6:49 am, Gaar <[EMAIL PROTECTED]> wrote: > > > > > > > > > > > > It was in FACT a Government Agency that was > > > > > > > > > > > "Privatized"... > > > > > > > > > > > > So it was in FACT started by Public Funding, and was even > > > > > > > > > > > still > > > > > > > > > > > considered a "quasi" Governmental Agency even after > > > > > > > > > > > Privatization. > > > > > > > > > > > > Your ignorance of its History notwithstanding. > > > > > > > > > > > > On Sep 8, 1:14 pm, PoliticalAmazon <[EMAIL PROTECTED]> > > > > > > > > > > > wrote: > > > > > > > > > > > > >http://www.huffingtonpost.com/2008/09/08/palin-makes-her-first-gaf_n_... > > > > > > > > > > > > > On a campaign stop in Colorado, Palin said that > > > > > > > > > > > > FannieMae and > > > > > > > > > > > > FreddieMac have gotten too big and expensive to the > > > > > > > > > > > > taxpayers. > > > > > > > > > > > > > My God, she couldn't even read the headlines about the > > > > > > > > > > > > takeover? > > > > > > > > > > > > > Yep, that's what being a leader of Alaska does for > > > > > > > > > > > > you--makes you dumb > > > > > > > > > > > > as a freaking box of rocks. > > > > > > > > > > > > > No wonder they are keeping her away from real > > > > > > > > > > > > interviewers.- Hide quoted text - > > > > > > > > > > > - Show quoted text -- Hide quoted text - > > > > > > > > > > - Show quoted text -- Hide quoted text - > > > > > > > > - Show quoted text -- Hide quoted text - > > > > > > - Show quoted text -- Hide quoted text - > > > - Show quoted text - --~--~---------~--~----~------------~-------~--~----~ Thanks for being part of "PoliticalForum" at Google Groups. 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