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Reply #8: We're all ignorant now ... [View All]

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Home » Discuss » Archives » General Discussion: Presidential (Through Nov 2009) Donate to DU
RoyGBiv Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Sep-29-08 07:30 PM
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8. We're all ignorant now ...

This is new territory.

Anyone who tells you they *know* what is going to happen next is trying to sell you some mortgage backed securities built on sub-prime loans.

The answer to your first question, though, is a political one. The enormous unpopularity of the idea of a bailout of this magnitude puts them at risk in the upcoming election. The votes on this were cast less for "do what's right" reasons than "do what makes me look good" reasons. That's not true of *all* of those votes, of course, but it is true of a significant number of them on both sides of the aisle.

Whether it is good for Obama is a short term/long term question. In the short term, it probably helps him because it keeps the disaster that is the American economy front-and-center and constrasted sharply against John "the fundamentals are sound" McCain.

Long term, who knows?
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  -I admit to being ignorant. I have no fucking clue if the bailout bill failing to pass is good or bad Elrond Hubbard  Sep-29-08 07:25 PM   #0 
  - Same here.  MPK   Sep-29-08 07:28 PM   #1 
  - I say pass it. Scrap it in Jan. and do what we want after we win.  SIMPLYB1980   Sep-29-08 07:29 PM   #2 
  - Second that I say pass it. Scrap it in Jan. and do what we want after we win.  Vincardog   Sep-29-08 07:36 PM   #17 
     - Can't just hand over $250 billion now and ask for it back in January  endthewar   Sep-29-08 07:57 PM   #35 
  - I guess we will see...  kirby   Sep-29-08 07:29 PM   #3 
  - Economists are already saying $700 billion isn't near enough...  Juniperx   Sep-29-08 07:35 PM   #15 
     - The plan was for $700 Billion outstanding at any one time...  kirby   Sep-29-08 07:41 PM   #22 
        - You need to read the whole thing... the tranches were a big joke...  Juniperx   Sep-29-08 07:44 PM   #23 
        - Did you read my post?  kirby   Sep-29-08 07:50 PM   #28 
        - why is it 700 - not 694 or 714? how'd they come up with that?  Sodan   Sep-29-08 07:59 PM   #37 
           - It was a SWAG. n/t  kirby   Sep-29-08 08:00 PM   #38 
  - Thank you  TXN in WA   Sep-29-08 07:29 PM   #4 
  - THere are many sides to this "diamond". Dennis even voted against it.  The_Casual_Observer   Sep-29-08 07:29 PM   #5 
  - I want to know if this is good or bad for us.  Inspired   Sep-29-08 07:30 PM   #6 
  - Good for Obama.  tekisui   Sep-29-08 07:30 PM   #7 
  - We're all ignorant now ...  RoyGBiv   Sep-29-08 07:30 PM   #8 
  - They'll put together another bail out--this time with the Bob Rubin crowd & our liberal wing  Bucky   Sep-29-08 07:31 PM   #9 
  - Yep.  Erin Elizabeth   Sep-29-08 07:32 PM   #10 
  - Nobody knows for sure.....  Jade Fox   Sep-29-08 07:33 PM   #11 
  - Me too. I have no clue. I don't know who to believe.  Oregonian   Sep-29-08 07:33 PM   #12 
  - It had the Bush/McCain Good Houskeeping Seal of Approval  BrotherBuzz   Sep-29-08 07:34 PM   #13 
  - Two choices:  Patsy Stone   Sep-29-08 07:34 PM   #14 
  - In times like these we have to go with what we know.  Juniperx   Sep-29-08 07:35 PM   #16 
  - But then why are Repukes AGAINST him?  Elrond Hubbard   Sep-29-08 07:53 PM   #30 
     - i see two possibilities  Juniperx   Sep-29-08 07:58 PM   #36 
  - Me too.  Sparkly   Sep-29-08 07:37 PM   #18 
  - If Bush and the repukes look bad, then a failing bailout is good. Democrats were in a win/win  whistle   Sep-29-08 07:37 PM   #19 
  - I'm no economist, so I don't know enough about the issues to decide.  kestrel91316   Sep-29-08 07:40 PM   #20 
  - I don't think ANYONE really have a clue.  Sodan   Sep-29-08 07:40 PM   #21 
  - We have Michael Moore  Bryn   Sep-29-08 07:45 PM   #24 
  - Ooops!  Bryn   Sep-29-08 07:47 PM   #25 
  - I can't buy a fucking clue  mokawanis   Sep-29-08 07:48 PM   #26 
  - This is what chaos is like I guess.  Sodan   Sep-29-08 07:52 PM   #29 
  - Me too. It's quite a cluster. Who knows if it would even work if they passed it.  NC_Nurse   Sep-29-08 07:50 PM   #27 
  - This is why we don't put these issues on voter ballots. lol  msallied   Sep-29-08 07:54 PM   #31 
  - I doubt they know any better than you do.  Elrond Hubbard   Sep-29-08 07:55 PM   #32 
  - If anybody says they do --- they're LYING  democrat2thecore   Sep-29-08 07:55 PM   #33 
  - This is all about selling the best guess. lol  msallied   Sep-29-08 07:57 PM   #34 
  - Here's my simple (non-economic guru) take  Hardhead   Sep-29-08 08:24 PM   #39 

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