Thats just dandy, the Supreme Court lets Exxon off the hook for the clean up costs for their drunken captain's misshap, and now the tax payers are picking up the tab for the fisherman?
Yes, that part does make sense about short term loans and cash flow. However, It still seems to me that if you are borrowing money to hire or make payroll your company is living a little too close to the edge? Perhaps should be considering headcount reduction or hiring freezes?
I keep hearing this "borrowing to hire" meme as a reason given to support the bailout on TV and even NPR and going unchallenged
I wrote about this last night. They put some things in which are sorely needed and I think tried to target Oregon specifically with a veiled threat because a lot of Oregon House members plus 1 Senator voted against the Bill...
See the bullying Congress post...this is critical money that rural Oregon needs to even run...it's massive federal lands and they save timber...so instead of bringing in other industries in these areas they are dependent upon these payments to run the local city and county governments...
(I'm not saying the lack of new developments is Oregon's fault either because as you know....the focus has been offshore outsourcing jobs, investment everything external too the US while leaving entire states, huge areas of the country with no jobs and no investments to grow new jobs).
Last tally I read was about $150B is tacked on. One of these is AMT modifications, which is a tax which hits upper middle class incomes severely and needed reforms...
but then there is additional pork. The real nightmare still is the $700B credit card Paulson gets to go shopping and buy and how he does it is critical and he still can do pretty much what he wants....to go buy up worthless assets (like distressed properties).
beyond try to stave off bankruptcy for insolvent institutions....how exactly this is going to relieve the credit crunch.
If I was placing bets this is going to buy just a little time and will dump this entire mess, probably worse, onto the next administration, now minus $700B which surely Paulson will spend before out of office.
From what I have heard: the "Rescue" bill started at 3 pages long. It is now up to 451 pages. It includes tax breaks for Alaska fishermen ($200,000,000+) impacted by the Exxon Valdez oil spill. It includes funds for wool research. It includes funds for (some offshore country) rum producers, etc. etc. etc. Both Obama and McCain strongly favor this bill.
Is that accurate? Is this bill really about pork barrel spending?
I found this on Mankiw's blog and I don't know if you're supposed to laugh or cry....but I really would like to see a comparison of Standard Oil acquisitions in the 1800's as a comparison.
But small business does do short term loans all of the time to deal with cash flow. I don't see what the SBA can't open up something to help in these cases. But anyone hiring a lot of employees, unless they are a start up, long term isn't borrowing money to do it. One of those half truths.
An "opinion" piece is now blaming the victim as if people just recklessly went into debt. People went into debt to survive in most cases. The got home equity loans to pay bills, they used their credit cards for medical bills and groceries, they got into bad mortgages because housing, generally is way more expensive than incomes can handle.
So, they want their bail out so here it comes...oh, the people are just irresponsible.
Ludlow Massacre and many stories like this is what happened in the 19th century.
Do me a favor and don't even hint at advocating violence on this site...I know people are frustrated but that is not where I want at least this site to go to.
If anybody, think of Gandhi if you want to talk about the public rising up.
That's not what the Paulson plan does at all, but it is what Sweden did and economists are saying it was the most effective way...but they stripped completely any money from executives and shareholders. They lost it all in the process. Paulson bails out the shareholders (he has a bunch of "options" at his discretion but this is what it looks like will happen).
Although that is what he did with the GSEs and in essence, AIG.
it seems like we're going to do the same thing with a number of mortgage lenders here in the United States. However, it does not appear that this is in the best interests of the American taxpayer. Rather it seems that the tax burden will be increased to line the pockets of the elite yet again.
Goldman Sachs is playing both sides of the field. Paulson is an ex-CEO, Rubin is an ex-CEO, Furman I believe was involved ....they are clearly running the country. Look at Paulson, isn't all of his behavior, not that of a government Treasury Secretary and that of a CEO who is now becoming a hedge fund manager?
Here's what kills me, they are all saying the credit market is frozen....but ya know wiping out the middle class, bleeding them dry, putting together mortgages with hidden balloon payments, credit cards that suddenly jump to 30% interest rates....
I mean they have bleed the world dry and are now after the taxpayer revenues.
Bummer they squeezed all of the money from the middle class...but of course now there is a credit crisis because they wiped out their customers.
It doesn't take a rocket scientist to figure this out.
Well, seems Ireland has upped the ante and all other countries should simply follow suit?
There is a clause in the Senate bail out bill to reduce (holiday? - haven't found this one yet) taxes on capital repatriated back into the US. Many corporations play global tax games and manipulate local economies, tax policies and keep a lot of capital offshore as a result.
Thats just dandy, the Supreme Court lets Exxon off the hook for the clean up costs for their drunken captain's misshap, and now the tax payers are picking up the tab for the fisherman?
Yes, that part does make sense about short term loans and cash flow. However, It still seems to me that if you are borrowing money to hire or make payroll your company is living a little too close to the edge? Perhaps should be considering headcount reduction or hiring freezes?
I keep hearing this "borrowing to hire" meme as a reason given to support the bailout on TV and even NPR and going unchallenged
Blow up globalization the way the Irish have
I wrote about this last night. They put some things in which are sorely needed and I think tried to target Oregon specifically with a veiled threat because a lot of Oregon House members plus 1 Senator voted against the Bill...
See the bullying Congress post...this is critical money that rural Oregon needs to even run...it's massive federal lands and they save timber...so instead of bringing in other industries in these areas they are dependent upon these payments to run the local city and county governments...
(I'm not saying the lack of new developments is Oregon's fault either because as you know....the focus has been offshore outsourcing jobs, investment everything external too the US while leaving entire states, huge areas of the country with no jobs and no investments to grow new jobs).
Last tally I read was about $150B is tacked on. One of these is AMT modifications, which is a tax which hits upper middle class incomes severely and needed reforms...
but then there is additional pork. The real nightmare still is the $700B credit card Paulson gets to go shopping and buy and how he does it is critical and he still can do pretty much what he wants....to go buy up worthless assets (like distressed properties).
beyond try to stave off bankruptcy for insolvent institutions....how exactly this is going to relieve the credit crunch.
If I was placing bets this is going to buy just a little time and will dump this entire mess, probably worse, onto the next administration, now minus $700B which surely Paulson will spend before out of office.
From what I have heard: the "Rescue" bill started at 3 pages long. It is now up to 451 pages. It includes tax breaks for Alaska fishermen ($200,000,000+) impacted by the Exxon Valdez oil spill. It includes funds for wool research. It includes funds for (some offshore country) rum producers, etc. etc. etc. Both Obama and McCain strongly favor this bill.
Is that accurate? Is this bill really about pork barrel spending?
click image to enlarge
I found this on Mankiw's blog and I don't know if you're supposed to laugh or cry....but I really would like to see a comparison of Standard Oil acquisitions in the 1800's as a comparison.
But small business does do short term loans all of the time to deal with cash flow. I don't see what the SBA can't open up something to help in these cases. But anyone hiring a lot of employees, unless they are a start up, long term isn't borrowing money to do it. One of those half truths.
A common justification I am hearing from proponents of the bailout is that people need to borrow money "to hire employees"
Somehow this just doesn't compute with me - if you have to borrow money to hire someone, maybe you should not be hiring at this point?? just sayin'
Can someone please explain how borrowing money helps hire people?
Greece Guarantees All Deposits
Looks like they might all have to follow suit...
except the US of course (sic).
An "opinion" piece is now blaming the victim as if people just recklessly went into debt. People went into debt to survive in most cases. The got home equity loans to pay bills, they used their credit cards for medical bills and groceries, they got into bad mortgages because housing, generally is way more expensive than incomes can handle.
So, they want their bail out so here it comes...oh, the people are just irresponsible.
Predictable strategy.
Ludlow Massacre and many stories like this is what happened in the 19th century.
Do me a favor and don't even hint at advocating violence on this site...I know people are frustrated but that is not where I want at least this site to go to.
If anybody, think of Gandhi if you want to talk about the public rising up.
That's not what the Paulson plan does at all, but it is what Sweden did and economists are saying it was the most effective way...but they stripped completely any money from executives and shareholders. They lost it all in the process. Paulson bails out the shareholders (he has a bunch of "options" at his discretion but this is what it looks like will happen).
Although that is what he did with the GSEs and in essence, AIG.
Get a few hundred vigilantes together, armed with revolvers, storm Goldman Sachs and take our taxes back.
it seems like we're going to do the same thing with a number of mortgage lenders here in the United States. However, it does not appear that this is in the best interests of the American taxpayer. Rather it seems that the tax burden will be increased to line the pockets of the elite yet again.
Goldman Sachs is playing both sides of the field. Paulson is an ex-CEO, Rubin is an ex-CEO, Furman I believe was involved ....they are clearly running the country. Look at Paulson, isn't all of his behavior, not that of a government Treasury Secretary and that of a CEO who is now becoming a hedge fund manager?
....not the same Goldman Sachs who is the largest contributor to 'The One's' campaign. Cannot be. Obama has repeatedly
liedsaid that....'I am the one you've been waiting for!'
I thought he was talking to me...not Lloyd C. Blankfein. Ah well...
A.Citizen
US headed for "deep" recession.
Here's what kills me, they are all saying the credit market is frozen....but ya know wiping out the middle class, bleeding them dry, putting together mortgages with hidden balloon payments, credit cards that suddenly jump to 30% interest rates....
I mean they have bleed the world dry and are now after the taxpayer revenues.
Bummer they squeezed all of the money from the middle class...but of course now there is a credit crisis because they wiped out their customers.
It doesn't take a rocket scientist to figure this out.
Who feels like this is a huge smoke screen to get the "Standard Oil" of banks....namely Goldman Sachs?
I feel like I'm in a PBS documentary tabulating the carnage from the 1880's Robber Barron era.
Well, seems Ireland has upped the ante and all other countries should simply follow suit?
There is a clause in the Senate bail out bill to reduce (holiday? - haven't found this one yet) taxes on capital repatriated back into the US. Many corporations play global tax games and manipulate local economies, tax policies and keep a lot of capital offshore as a result.
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