Bailout BullShit

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Faramarz_Fateh
by Faramarz_Fateh
27-Sep-2008
 

A few weeks ago, some dumbass Iranian so called Dr. on Radio Iran LA mentioned that everyone should get rid of their microwave ovens because microwave rays change the properties of water. His assertion was based on an experiment performed at a reputable U.S. university in which they showed wheat grass does not grow in microwave boiled water.  It took a very simple experiment at home and 10 days to prove this crazy theory wrong to my wife and mother-in-law.

If you are asking gooz be shaghighjeh che rabti dareh, indulge me for a couple more paragraphs.

On Thursday and Friday I must have received 15 copies of the same damn email about someone proposing that the government should have divided $85 billion dollars among 200 million adult U.S. citizens instead of bailing out AIG.  The proposal looked good until you realized the moron who wrote it did not know math even at the level of a 5th grader.  By his calculations, everyone would have gotten $425,000 as a result of distribution of $85B whereas in reality, everyone would have received $425.  Everybody was talking about this fantastic proposal without slightest thougtht. Even our neighbour, a UCLA trained MD had read and believed this crap without slightest thought.

Now we get to the proposed $700 billion bailout plan.  Currently, less than 11% of home and commercial mortgages are in default.  The bail out proposes that the U.S government buys mortgage back securities so that institutions owning bad or toxic securities remain solvent or liquid (ie. don't run out of $$$).  Them remaining solvent is apparently of paramount importance but no one knows why or asks why!!

The U.S. economy is weak.  More and more people are losing their jobs and therefore more and more people are going to default and or go into foreclosure.  Another 10% default would mean another bail out package of $700 in a year or less.  What then?  Another bail out?

Instead of bail out, the government should let all these financial institutions go under.  They should honor the FDIC guarantee and insure money accounts up to $100,000   Anything more, so be it.

Instead of bail out, new industries and technologies should be funded so that high paying competitive jobs are created. 

If someone or some bank took a risk to double or triple their money in a short time and it didn't work, let them pay the price for risking.  I sure as hell don't want to bail out rich Wall Street bastards or greedy home flippers.  Do you?

Tell your political leaders, NO BAIL OUT. 

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default

I’m sick of it, sick of it

by Myself (not verified) on Sun Sep 28, 2008 12:35 PM PDT

When price of houses were doubling up every year and everyone was mad with insatiable apatite to purchase those inflated properties I refused to buy a house at those prices because when I was taking economic classes in college I paid attention.

When on the average value of real estate property in this country in the last 150 years had gone up at a rate of 1.5% a year it was insane to believe that 100% increases in value was realistic and sustainable. So I didn’t buy a house and now the house of cards has come crashing down and they expect reasonable people like me to participate in this bull shit bail out scam. I’m just sick of it. Sick of this bull shit economy.


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samsam1111

Dear F.F Obama is the poster child of big brokergae boys.I know

by samsam1111 on Sat Sep 27, 2008 12:15 PM PDT

 As a former active independent Equity, Index, future  trader for a few yrs who ultimatly lost a fortune in the end I can shed some light on Your argument. since 1992 and onward the SEC has continued on the path of relaxing rule for bulk equity traders such as Goldman sachs JP Morgan...etc with the help of the type of senators such as Joe Biden (His CITI connection).. the combination of all powerful future traders & co conspirator media such as CNN , MSNBC, Bloomberg TV, Briefing.com , Reuter finance...etc..have created a duet entity so powerful that it creates it,s own fake hyped headlines (called the red meat) for Future markets to feed on and drive the future market be it commodity, index, tech ...etc up or down depending what stake the big players have on it .Believe it or not I know of guys in LM(Leg Mason) & others who hired farsi translators to go through hezbollahi sites in Iran such as Baztab to pick , fabricate news & hype for pimping a surge on Oil,Gold & commodity stocks quoting some hard liner in Mullah land...case & point; the whole sub prime melt down (As I was in it when started) started with small firms such as NFI reprting a tiny bit higher than norm bad debt ration in their quarterly earning report hence the big boys such as GS ,MS,CIT, BEN, BAM, TROW deceided it to be the time to cash out their huge gain bubble and change direction on Shorting (investing on the bet that companies share goes down)..hence the mayhem was disproportionaly hyped (MSNBC pundits a big culprit) to the benefit of Short crowd and the loss of at times %80 of the values of equities of 34 sub prime & Alt A mortgage companies which in turn created a cash crunch that gave way to some bankruptcies & real subprime & prime crisis..this was truly an artificial crisis at 1st instigated by big future traders & their culprit mass media to benefit both way on the way up , cash out , and on the way down short postion. ..The same goes for commodity and oil surge...A section of big brokerage firms such as BS bear stern who missed big on sub prime short rush Poured $550Billion into oil & gold stocks to drive the prices higher in order to make the loses on their subprime & lending equity minimal yet at the end the remedy was not nearly enough and they bacame insolvent...in short it was a battle between the majority big money cream da la crop to filter out some of their opponents outa of the market...Now as You see the same big boys through coreographed media hype are black mailing the public & government to go their way or else armagedon in the market..and guess who is spearheading the battle..Mr Paulson aka the former CEO of the big cat Goldman Sachs singing the doomsday song for the panicked public...

Now I have one surprise for you all...You be surprised to know who is the candidate of choice for the big oil equity, blue chip & future traders ...Mr Obama..I KNOW because I talk to them weekly & if You check to see who made the most contributions to his campaign You will certainly see the top 5 are the Asset managers, Diversified investment brokerage houses & big Oil index traders...one of the reasons being that they see in him the chance to open the huge Iranian oil & gas exploration & investment market via dialogue with mullahs...They love him..He is the poster child of the types of Goldman Sachs...

cheers pal!!


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IRANdokht

Democracy inaction

by IRANdokht on Sat Sep 27, 2008 10:57 AM PDT

The government of the people, by the people for the big banks. Funny how they're not listening to people who say NO!

The investors make money off people's life savings, if they do well, the money is theirs, if they fail and lose our savings, we still have to pay them and make up for their losses too?

F 4 T that was a great clip you provided.

Thanks

IRANdokht


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Food for Thought

Agree 100%

by Food for Thought on Sat Sep 27, 2008 10:33 AM PDT

Watch this:

//www.youtube.com/watch?v=NMrJSE9GyA8

Are all politicians corrupt? Will they listen?

This is an incredible lie! Don't let them get away with it Americans... Do something about it...


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